<SEC-DOCUMENT>0001558370-23-004490.txt : 20230324
<SEC-HEADER>0001558370-23-004490.hdr.sgml : 20230324
<ACCEPTANCE-DATETIME>20230324063116
ACCESSION NUMBER:		0001558370-23-004490
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		35
CONFORMED PERIOD OF REPORT:	20230324
FILED AS OF DATE:		20230324
DATE AS OF CHANGE:		20230324

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Suzano S.A.
		CENTRAL INDEX KEY:			0000909327
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPER MILLS [2621]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38755
		FILM NUMBER:		23757614

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tmb-20230324x6k.htm
<DESCRIPTION>6-K
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 3/24/2023 10:14:35 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;border-bottom:1.0pt solid #000000;border-top:3.0pt solid #000000;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Washington, DC 20549</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1" width="25.0%" style="background-color:#000000;color:#000000;height:1pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">FORM&#160;6-K</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1" width="25.0%" style="background-color:#000000;color:#000000;height:1pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">REPORT OF FOREIGN PRIVATE ISSUER</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">PURSUANT TO RULE 13a-16 OR 15d-16</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">For the month of March, 2023.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Commission File Number 001-38755</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1" width="25.0%" style="background-color:#000000;color:#000000;height:1pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">Suzano S.A.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Exact name of registrant as specified in its charter)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1" width="25.0%" style="background-color:#000000;color:#000000;height:1pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SUZANO INC.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Translation of Registrant&#8217;s Name into English)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Av. Professor Magalhaes Neto, 1,752</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">10th Floor, Rooms 1010 and 1011</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Salvador, Brazil 41 810-012</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(Address of principal executive office)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1" width="25.0%" style="background-color:#000000;color:#000000;height:1pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form&#160;20-F or Form&#160;40-F.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Form&#160;20-F <font style="font-family:'Times New Roman';">&#8999;</font><font style="white-space:pre-wrap;">     Form&#160;40-F </font><font style="font-family:'Times New Roman';">&#9723;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Indicate by check mark if the registrant is submitting the Form&#160;6-K in paper as permitted by Regulation S-T Rule&#160;101(b)(1): <font style="font-family:'Times New Roman';">&#9723;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Indicate by check mark if the registrant is submitting the Form&#160;6-K in paper as permitted by Regulation S-T Rule&#160;101(b)(7): <font style="font-family:'Times New Roman';">&#9723;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;border-bottom:3.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="display:none;font-family:'Times New Roman','Times','serif';line-height:0pt;margin:0pt;"><font style="font-size:0pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Enclosures</u>:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Exhibit 99.1&#160;&#8211; <a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="tmb-20230324xex99d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Call Notice</font></a> </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Exhibit 99.2&#160;&#8211; <a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="tmb-20230324xex99d2.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Management Proposal</font></a> </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Exhibit 99.3&#160;&#8211; <a style="font-family:&quot;'Times New Roman','Times','serif'&quot;;" href="tmb-20230324xex99d3.htm"><font style="font-family:'Times New Roman','Times','serif';font-style:normal;font-weight:normal;">Manual for the Attendance of Shareholders</font></a></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">2</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:always;width:79.3%;border-width:0;"><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">SIGNATURE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Date: March 24, 2023</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;" align="center"><tr style="height:1pt;"><td style="vertical-align:bottom;width:49.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:bottom;width:6.5%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:bottom;width:44.36%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:49.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:6.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:44.36%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">SUZANO S.A.</b></p></td></tr><tr><td style="vertical-align:bottom;width:49.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:6.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:44.36%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:bottom;width:49.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:6.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By:</p></td><td style="vertical-align:bottom;width:44.36%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Marcelo Feriozzi Bacci</p></td></tr><tr><td style="vertical-align:bottom;width:49.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;width:6.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Name:</p></td><td style="vertical-align:bottom;width:44.36%;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Marcelo Feriozzi Bacci</p></td></tr><tr><td style="vertical-align:bottom;width:49.13%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.5%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Title:</p></td><td style="vertical-align:bottom;width:44.36%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chief Financial and Investor Relations Officer</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">3</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border-width:0;"></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tmb-20230324xex99d1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 3/24/2023 10:14:35 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:13.9%;padding-right:13.9%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">Exhibit&#160;99.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d1001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.43;text-align:center;margin:0pt;"><a name="_Toc102678635"></a><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0.15pt;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0.15pt;margin:0pt;"><font style="font-size:11pt;">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0.15pt;margin:0pt;"><font style="font-size:11pt;">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0.15pt;margin:0pt;"><font style="font-size:11pt;">NIRE 29.300.016.331</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;line-height:1.19;padding-left:0.5pt;text-align:center;text-indent:-0.5pt;margin:0pt 0pt 0pt -0.5pt;">CALL NOTICE</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;line-height:1.19;padding-left:0.5pt;text-align:center;text-indent:-0.5pt;margin:0pt 0pt 0pt -0.5pt;">ANNUAL AND EXTRAORDINARY SHAREHOLDERS&#8217; MEETINGS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">The Shareholders of (&#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Suzano</u><font style="font-size:11pt;">&#8221; or &#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Company</u><font style="font-size:11pt;">&#8221;) are hereby invited, pursuant to Section 124 of Law No. 6,404, dated as of December 15, 1976, as amended (&#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Brazilian Corporations Law</u><font style="font-size:11pt;">&#8221;), to attend the Annual and Extraordinary General Shareholders&#8217; Meetings, to be held cumulatively on April 26, 2023, at 10:00 a.m. (&#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">AESM</u><font style="font-size:11pt;">&#8221;), </font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">exclusively digitally</u><font style="font-size:11pt;">, pursuant to item I of paragraph 2 of Section 5 and paragraphs 2 and 3 of Section 28 of CVM Resolution No. 81, dated March 29, 2022, as amended (&#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">RCVM 81/22</u><font style="font-size:11pt;">&#8221;), to resolve on the following agenda:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 36pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.3pt;padding:0pt;">1.</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Annual General Shareholders Meeting</b></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 21.3pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">1.1.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Examine the management accounts related to the fiscal year ended December 31, 2022;</font></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 39.3pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">1.2.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Examine, discuss and vote on the financial statements of the Company for the fiscal year ended December 31, 2022, and to review the management report for the aforementioned fiscal year;</font></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 54pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">1.3.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Resolve on the Company&#8217;s capital budget for the fiscal year ending December 31, 2023;</font></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 54pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">1.4.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Resolve on the allocation of net income for the fiscal year ended December 31, 2022 and the distribution of dividends; </font></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 54pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;background:#ffff00;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">1.5.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">If the Fiscal Council is installed, to define the number of members that will compose the Fiscal Council and resolve on the election of its members; and</font></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 54pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">1.6.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Determine the overall annual compensation of the Company&#8217;s management and Fiscal Council, if installed, for the fiscal year of 2023.</font></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.3pt;padding:0pt;">2.</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Extraordinary General Shareholders Meeting</b></td><td style="width:0.2pt;"></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0.2pt 0pt 18pt;"><font style="display:none;font-size:11pt;font-weight:bold;min-width:18pt;white-space:nowrap;">2.</font><font style="font-size:11pt;font-weight:bold;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font><font style="font-size:12pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">2.1.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Resolve on the amendment to the caput of Article 5 of the Company&#8217;s Bylaws, to reflect the number of shares into which the Company&#8217;s share capital is divided, due to the cancellation of treasury shares approved at the Board of Directors&#8217; Meeting held on February 28, 2023;</font></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 39.6pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">2.2.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Resolve on the consolidation of the Company&#8217;s Bylaws, in order to reflect the amendment of its Article 5 object of the resolution described in item 2.1 above; and</font></td><td style="width:0.2pt;"></td></tr></table></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:34.85pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:24pt 0pt 0pt 0pt;"><font style="font-size:11pt;">1</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:13.9%;margin-right:13.9%;margin-top:30pt;page-break-after:always;width:72.21%;border-width:0;"><div style="max-width:100%;padding-left:13.9%;padding-right:13.9%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 36pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:21.6pt;padding:0pt;">2.3.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Authorize the Company&#8217;s management to take all measures necessary to implementation of the approved matters, in accordance with the applicable law.</font></td><td style="width:0.2pt;"></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">It is available to Shareholders, at Suzano&#8217;s head office, in the Company&#8217;s investor relations website (</font><u style="color:#0563c1;font-size:11pt;text-decoration-color:#0563c1;text-decoration-line:underline;text-decoration-style:solid;">www.suzano.com.br/ri</u><font style="font-size:11pt;">), as well as on the websites of the Securities and Exchange Commission of Brazil (&#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">CVM</u><font style="font-size:11pt;">&#8221;) (</font><u style="color:#0563c1;font-size:11pt;text-decoration-color:#0563c1;text-decoration-line:underline;text-decoration-style:solid;">www.cvm.gov.br</u><font style="font-size:11pt;">) and B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o (</font><u style="color:#0563c1;font-size:11pt;text-decoration-color:#0563c1;text-decoration-line:underline;text-decoration-style:solid;">http://www.b3.com.br</u><font style="font-size:11pt;">), (a) the Management Report and the Company&#8217;s individual and consolidated Financial Statements and their respective Notes, all related to the fiscal year ended on December 31, 2022, accompanied by the independent auditor&#8217;s report and the Fiscal Council&#8217;s opinion; (b) the Management Proposal including the capital budget and the information required by Sections 11, 12 and 13, and Annex A of RCVM 81/22 (&#8220;</font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Management Proposal</u><font style="font-size:11pt;">&#8221;); (c) the Shareholder&#8217;s Manual, including instructions for attendance in the AESM; and (d) the form of Distance Voting Ballot for the AESM.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-size:11pt;font-style:italic;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">General Instructions</i><i style="font-size:11pt;font-style:italic;"> </i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-size:11pt;font-style:italic;"> </i><font style="font-size:11pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">Pursuant to RCVM 81/22, the Shareholders may attend the AESM through a digital platform to be provided by the Company for access on the date and time of the AESM or through distance voting. The guidelines and procedures applicable to both types of attendance referred to herein, as well as the other instructions regarding the AESM, are detailed in the aforementioned Shareholder&#8217;s Manual, which is available at Suzano&#8217;s head office, on the Company&#8217;s investor relations website (</font><u style="color:#0563c1;font-size:11pt;text-decoration-color:#0563c1;text-decoration-line:underline;text-decoration-style:solid;">www.suzano.com.br/ri</u><font style="font-size:11pt;">), as well as on the CVM (</font><u style="color:#0563c1;font-size:11pt;text-decoration-color:#0563c1;text-decoration-line:underline;text-decoration-style:solid;">www.cvm.gov.br</u><font style="font-size:11pt;">) and B3 (</font><u style="color:#0563c1;font-size:11pt;text-decoration-color:#0563c1;text-decoration-line:underline;text-decoration-style:solid;">http://www.b3.com.br</u><font style="font-size:11pt;">) websites.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;"> </font><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;white-space:pre-wrap;">In order to attend to the AESM, Shareholders shall submit to the Company a request for access, accompanied by  the following documents, under Section 126 of the Brazilian Corporations Law and as detailed in the Shareholder&#8217;s Manual: (i) valid identification document of the shareholder or its representative; (ii) proof issued by the financial institution depositary of the book-entry shares or in their custody; (iii) documents proving the powers of the legal representative of the legal entity shareholder or of the manager or administrator, in the case of investment funds; and (iv) power of attorney, duly regularized in the form of law, in the event of representation of the shareholder by an attorney-in-fact.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">The access request and the documents indicated above shall be sent to the Company until 10:00 a.m. on April 24, 2023, by means of electronic mail, to </font><font style="font-size:11pt;">ri@suzano.com.br</font><font style="font-size:11pt;">, with a copy to </font><font style="font-size:11pt;">societario@suzano.com.br</font><font style="font-size:11pt;">. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">Without prejudice to the possibility to attend the AESM by electronic means, the Company recommends that the Shareholders exercise their voting rights through the distance voting ballot. In this case, until April 19, 2023 (inclusive), shareholders shall transmit their voting instructions, delivering the respective distance voting ballots: (i) to the bookkeeper of the Company&#8217;s shares; (ii) to their respective custody agents, in the case of shareholders holding shares deposited in a central depository; or (iii) directly to the Company, subject to the rules established in RCVM 81/22 and the procedures described in the form of distance voting ballot provided by the Company.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">Guidance on the procedures to attend and vote at the AESM, as well as other instructions regarding the AESM, are detailed in the Shareholder&#8217;s Manual.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;"> </font><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:11pt;">S&#227;o Paulo, March 24, 2023.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">David Feffer</b></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:34.85pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:24pt 0pt 0pt 0pt;"><font style="font-size:11pt;">2</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:13.9%;margin-right:13.9%;margin-top:30pt;page-break-after:always;width:72.21%;border-width:0;"><div style="max-width:100%;padding-left:13.9%;padding-right:13.9%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:11pt;">Chairman of the Board of Directors</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:34.85pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:24pt 0pt 0pt 0pt;"><font style="font-size:11pt;">3</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:13.9%;margin-right:13.9%;margin-top:30pt;page-break-after:avoid;width:72.21%;border-width:0;"></body></html>
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<DESCRIPTION>EX-99.2
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<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 3/24/2023 10:14:44 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit&#160;99.2</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:110.19%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:100%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr></table></div><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">MANAGEMENT PROPOSAL</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">ANNUAL AND EXTRAORDINARY SHAREHOLDERS MEETINGS</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">OF</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">TO BE HELD CUMULATIVELY</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">EXCLUSIVELY DIGITALLY</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">ON APRIL</b><font style="font-family:'Times New Roman','Times','serif';"> </font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">TABLE OF CONTENTS</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;min-width:5.01%;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">I.</font></font><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Information on matters subject to resolution</font></font><font style="bottom:2.8793945pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">3</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;min-width:5.01%;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">II.</font></font><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Comments from Officers (Section 2 &#8211; CVM Resolution No. 80/22)</font></font><font style="bottom:2.8793945pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">11</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;min-width:5.01%;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">III.</font></font><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Capital Budget</font></font><font style="bottom:2.8793945pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">66</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;min-width:5.01%;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">IV.</font></font><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Exhibit A of CVM Resolution No. 81/22</font></font><font style="bottom:2.8793945pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">68</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;min-width:5.01%;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">V.</font></font><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Management (Section 7.3 &#8211; CVM Resolution No. 80/22)</font></font><font style="bottom:2.8793945pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">75</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;min-width:5.01%;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">VI.</font></font><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Management Compensation (Section 8 &#8211; CVM Resolution No. 80/22)</font></font><font style="bottom:2.8793945pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">81</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;min-width:5.01%;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">VII.</font></font><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Details of the Bylaws&#8217; amendments&#8217; origin and justifications, analyzing its legal and economic effects (Section 12 &#8211; CVM Resolution No. 81/22)</font></font><font style="bottom:2.8793945pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">150</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="display:inline-block;min-width:7.76%;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">VIII.</font></font><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Highlight of the amendments made to the Bylaws and Consolidated Bylaws (Section 12 - CVM Resolution No. 81/22)</font></font><font style="bottom:2.8793945pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">151</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.37;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">The above items are an integral part of this Management Proposal (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Management Proposal</u><font style="font-family:'Times New Roman','Times','serif';">&#8221; or &#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Proposal</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;) and comply with the provisions of Law No. 6,404, of December 15, 1976, (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Brazilian Corporations Law</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;) and CVM Resolution No. 81, of March 29, 2022, as amended (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">RCVM 81/22</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;).</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:8.95pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:-0.07%;position:absolute;top:-5.65pt;width:429pt;z-index:251658240;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:-0.07%;position:absolute;top:0.35pt;width:427.5pt;z-index:251660288;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:16pt;line-height:16pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">I.</td><td style="padding:0pt;"><b style="font-family:'Calibri Light';font-size:16pt;font-style:normal;font-weight:bold;"><a name="_Toc130463271"></a><a name="_Toc97210204"></a><a name="_Toc67081026"></a><a name="_Toc67036340"></a><a name="_Toc35936826"></a><a name="_Toc37862352"></a></b><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Information on matters subject to resolution</b></td></tr></table><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-0.05pt;width:427.5pt;z-index:251662336;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0%;position:absolute;top:5.95pt;width:429pt;z-index:251664384;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Shareholders,</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">The Management of Suzano S.A. (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Company</u><font style="font-family:'Times New Roman','Times','serif';">&#8221; or &#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Suzano</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;) hereby presents to the Shareholders the following proposals to be subject of resolution at the Annual General Meeting (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">ASM</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;) and Extraordinary General Meeting (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">ESM</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;), to be held cumulatively on April 26, 2023, at 10:00 a.m., exclusively digitally pursuant to RCVM 81/22. </font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-style:italic;font-weight:bold;">The Company emphasizes that the presentation of the information contained in this Proposal does not replace, for any purpose, the careful and complete reading of all its Exhibites</font><font style="font-family:'Times New Roman','Times','serif';">.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">(1) Examine the management accounts for the fiscal year ended December 31, 2022 and to examine, discuss and vote on the Company&#8217;s financial statements for the fiscal year ended December 31, 2022, and to review the management report for said fiscal year.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">The Management Report and the individual and consolidated Financial Statements of the Company and their respective Explanatory Notes, all related to the fiscal year ended December 31, 2022 (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">2022FS</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;), accompanied by the independent auditor&#8217;s report, the opinion of the Fiscal Council and the opinion of the Audit Committee are available on the Company&#8217;s website </font><font style="font-family:'Times New Roman','Times','serif';">www.suzano.com.br/ri</font><font style="font-family:'Times New Roman','Times','serif';">,</font><font style="font-family:'Times New Roman','Times','serif';"> the Brazilian Securities and Exchange Commission (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">CVM</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;) </font><font style="font-family:'Times New Roman','Times','serif';">www.cvm.gov.br</font><font style="font-family:'Times New Roman','Times','serif';"> and B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">B3</u><font style="font-family:'Times New Roman','Times','serif';">&#8221;) </font><font style="font-family:'Times New Roman','Times','serif';">www.b3.com.br</font><u style="font-family:'Times New Roman','Times','serif';text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">.</u></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">The individual and consolidated Financial Statements and the Company&#8217;s Management Report were prepared by the Board of Officers, audited by PricewaterhouseCoopers Auditores Independentes and approved by the Company&#8217;s Board of Directors, with favorable statements from the Audit Committee at a meeting held on February 28, 2023, and from the Fiscal Council at a meeting started on February 14, 2023 and ended on February 28, 2023. The aforementioned statements are available at the same electronic addresses referred to herein.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-style:italic;">Other information and the managers&#8217; comments on the Company&#8217;s financial situation in compliance with Section 2 of the Reference Form and with RCVM 81/22 are included in this Proposal under the terms of Exhibit II.</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">(2) Resolve on the Company&#8217;s capital budget for the fiscal year ending December 31, 2023;</b></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">In order to meet the Company&#8217;s investment plan in 2023, the Company&#8217;s management proposes the approval of the Company&#8217;s capital budget for the fiscal year ending December 31, 2023, as detailed in Exhibit III to this Proposal, pursuant to Section 196 of the Brazilian Corporations Law.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-style:italic;">Further information is contained in this Proposal pursuant to Exhibit III.</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">(3) Resolve on the allocation of net income for the fiscal year ended December 31, 2022 and the distribution of dividends.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">In the fiscal year ended December 31, 2022, as evidenced in the Company&#8217;s Financial Statements, audited by PricewaterhouseCoopers Auditores Independentes, a net income of twenty-three billion, three hundred and eighty-one million, six hundred and sixteen thousand, eight hundred and thirty-three reais and seventy-four cents (BRL 23,381,616,833.74) was accrued.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">The Company&#8217;s Management proposes to allocate the net income for the year ended December 31, 2022, pursuant to the resolution of the Board of Directors&#8217; Meeting held on March 23, 2023, being attributed: <b style="font-weight:bold;">(i)</b> to the <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Legal Reserve</u>, the amount of one billion, one hundred and sixty-nine million, eighty thousand, eight hundred and forty-one reais and sixty-nine cents (BRL 1,169,080,841.69), pursuant to paragraphs 1 and 2 of Section 193 of the Brazilian Corporations Law; and <b style="font-weight:bold;">(ii)</b> to the <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Tax Incentives Reserve</u>, the amount of sixty-six million, eight hundred and seventy thousand, five hundred and thirty-four reais and thirty-five cents (BRL 66,870,534.35), in accordance with Section 195-A of the Brazilian Corporations Law.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">From the adjusted net income, corresponding to twenty-two billion, one hundred forty-five million, six hundred sixty-five thousand, four hundred and fifty-seven reais, seventy cents (BRL 22,145,665,457.70), it is proposed <b style="font-weight:bold;">(i)</b> as distribution of <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">dividends</u>, the amount of two billion, three hundred and fifty million reais (BRL 2,350,000,000.00), as described below, corresponding to the amounts of dividends distributed in advance, pursuant to the resolution of the Board of Directors&#8217; Meeting held on December 1<sup style="font-size:7.5pt;vertical-align:top;">st</sup>, 2022; <b style="font-weight:bold;">(ii)</b> allocation to the <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Capital Increase Reserve</u>, the amount of two billion, nine hundred sixty-five million, five hundred sixty-one thousand, one hundred and sixty-six reais and two cents (BRL 2,965,561,166.02), pursuant to letter &#8220;d&#8221; of Article 26 of the Bylaws;<b style="font-weight:bold;"> (iii) </b>allocation<b style="font-weight:bold;"> </b>to the <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Special Statutory Reserve</u>, the amount of one billion, nine hundred ninety-three million, ninety-eight thousand, two hundred and eighty-two reais and fifty-six cents (BRL 1,993,098,282.56), pursuant to letter &#8220;d&#8221; of Article 26 of the Bylaws; and <b style="font-weight:bold;">(iv)</b> <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Retention of Profits</u>, in the amount of fourteen billion, nine hundred seventy-two million, three hundred twenty-three thousand, three hundred and seventy-seven reais and five cents (BRL </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">14,972,323,377.05), pursuant to Section 196 of the Brazilian Corporations Law, based on a capital budget to be approved by the ASM, in accordance with item &#8220;2&#8221; above.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">As indicated above, the Management proposes the distribution of dividends in the total amount of two billion, three hundred and fifty million reais (BRL 2,350,000,000.00), and such amount was declared at the Company&#8217;s Board of Directors&#8217; Meeting held on December 1, 2022 and paid on December 27, 2022, as interim dividends to the net income account for the year determined in the interim balance sheet drawn up on September 30, 2022. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-style:italic;">The Management proposes to You the allocation of the net income of the fiscal year ended on December 31, 2022 pursuant to Exhibit IV of this Management Proposal, in accordance with Exhibit A of RCVM 81/22.</i></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">(4) If the Company&#8217;s Fiscal Council is installed, to define the number of members that will compose the Fiscal Council and resolve on the election of its members.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">As provided for in Article 24 of the Company&#8217;s Bylaws, the Fiscal Council does not operate on a permanent basis and is installed only upon request of the shareholders, according to the applicable legislation. Once installed, the Fiscal Council is composed of three (3) to five (5) effective members and an equal number of alternates.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">As per communication sent to the Company by Dynamo on March 16, 2023, as trustee of investment funds holding outstanding shares issued by the Company, Messrs. Eraldo Soares Pe&#231;anha and Kurt Janos Toth were respectively indicated as candidates to effective and alternate members, to participate in the separate election of the Fiscal Council, pursuant to Section 161, paragraph 4 of the Brazilian Corporations Law,</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">In view of the aforementioned appointment by minority shareholder, if the Fiscal Council is installed, the Management supports that the Fiscal Council is composed of three (3) effective members and an equal number of alternates, and supports the election of Messrs. Luiz Augusto Marques Paes and Rubens Barletta, as effective members, whose respective alternates shall be Messrs. Roberto Figueiredo Mello and Luiz Gonzaga Ramos Schubert, all appointed by the Company&#8217;s controlling shareholders.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">The term of office of the Fiscal Council members elected at the Annual General Shareholders&#8217; Meeting shall be effective until the Annual General Shareholders&#8217; Meeting that resolves on the financial statements for the fiscal year ending on December 31, 2023.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">For further information on this matter, please see the document contained in Exhibit V of this Proposal, prepared pursuant to Section 7 of the Reference Form and RCVM 81/22.</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><a name="_Hlk129764226"></a><b style="font-weight:bold;">(5) Determine the overall annual compensation of the Company&#8217;s management and Fiscal Council, if installed. </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">It is proposed that the Company&#8217;s Shareholders gathered at the ASM, under Section 152 of the Brazilian Corporations Law, approve the overall annual amount of up to one hundred thirty-nine million, five hundred thirty-nine thousand, one hundred ninety-two reais and fifty cents (BRL 139,539,192.50) as compensation for the Management (Board of Directors (including activities as members of the Board of Directors and member of the Advisory Committees, as the case may be) and the Statutory Executive Board of Officers) and members of the Company&#8217;s Fiscal Council, if installed, subject to the provisions in the legislation in force and in the Company&#8217;s Bylaws.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">The proposed amount comprises: (a) up to nineteen million, one hundred sixty-three thousand, one hundred fifteen reais and fifty-eight cents (BRL 19,163,115.58) corresponding to the fees of the members of the Board of Directors; (b) up to one hundred nineteen million, one hundred thirty-three thousand, four hundred thirty reais and twenty-six cents (BRL 119,133,430.26) corresponding to the fixed and variable compensation of the members of the Statutory Board of Officers; and (c) one million, two hundred forty-two thousand, six hundred forty-six reais and sixty-six cents (BRL 1,242,646.66) corresponding to the fees of the members of the Fiscal Council; (d) the corresponding amounts include benefits of any kind; and (e) the corresponding amounts do not include taxes and charges due by the Company accrued on the compensation, as per guidance of the Annual Circular Letter SEP 2023.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Considering the taxes and charges levied on the compensation, it is estimated the total compensation may reach up to one hundred and fifty million reais (BRL 150,000,000.00), therefore, comprising a compensation with tax charges of: (a) up to approximately twenty-two million, three hundred sixty-nine thousand, two hundred forty-five reais and fifty-eight cents (BRL 22,369,245.58) corresponding to the fees of the members of the Board of Directors and </font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">participation in Committees by members of the Board of Directors; (b) up to approximately one hundred twenty-six million, one hundred thirty-nine thousand, five hundred seventy-eight reais and forty-three cents (BRL 126,139,578.43) corresponding to the fixed and variable compensation of the members of the Statutory Board of Officers; and (c) up to approximately one million, four hundred ninety-one thousand, one hundred seventy-five reais and ninety-nine cents (BRL 1,491,175.99) corresponding to the fees of the members of the Fiscal Council.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">The variable compensation to which the Company&#8217;s Management may be entitled corresponds: (i) regarding the Board of Directors, to the long-term incentive plan as Performance Shares; and, (ii) regarding the Statutory Board of Officers, to the short-term incentive as reward for achieving goals that support the Company&#39;s short-term strategy and long-term incentives which, through the mechanisms of Phantom Shares, SAR (Share Appreciation Rights) and Performance Shares, rewards the executives for the achievement of results that support the medium- and long term strategic purposes of the Company, through the appreciation of its shares. Both tranches of the variable compensation work to align the executives with the shareholders&#8217; objectives and the Company&#8217;s sustainability.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Both the fixed and variable compensation of the Company&#8217;s management bodies are established according to the market standards, through research conducted by renowned consulting firms specialized in the subject, and are detailed in Exhibit VI of this Proposal, pursuant to Section 8 of the Reference Form and RCVM 81/22. Therefore, payment of the variable compensation is conditional and proportional to the partial or total fulfillment of the pre-established goals, and may even not be due, in the event that the goals in question have not been achieved.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><a name="_Hlk35107109"></a><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">The compensation of the Company&#8217;s Management aims to make the managers&#8217; alignment, the shareholders&#8217; objectives and the Company&#8217;s strategy and sustainability compatible, while seeking to adequately compensate such executives and retain and reward high performance professionals, with proper skills and market experience, and encouraging a meritocratic culture. To this end, it seeks to balance the managers&#8217; responsibilities, time spent dedicated to their duties, the expertise, professional reputation and value of their services in the market with the fees proposed and evaluated by the Compensation Committee.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">It should be highlighted that the annual global amount proposed above refers to an estimate of the aggregate maximum funds that may be spent by the Company with the compensation of its managers (including the installments of compensation and eventual benefits) in the period </font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">comprised between the months of January and December 2023, in line with the period covered by the Reference Form (fiscal year) referred to in RCVM 81/22.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">As an estimate, even if based on criteria, projections of the value of shares and values known at the time of its assessment (e.g., amount of fixed compensation), such proposed annual global amount is subject to unforeseeable circumstances or not yet definitive on the date of its approval, notably as a result of the following events: (i) the appreciation (or depreciation) of the price of shares issued by the Company, impacting the share-based compensation portion; and (ii) the eventual dismissal of members of the statutory board of officers with the corresponding payment of severance resulting from the dismissals. </font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Therefore, the Company had in the 2022 fiscal year a global expenditure with the compensation of the Management (Board of Directors and Board of Officers) and the the Fiscal Council in the amount of ninety million, three hundred and seventy-three thousand, thirty-three reais and seventy-seven cents (BRL 90,373,033.77) versus the global amount of one hundred and forty million, one hundred and seventeen thousand, two hundred and forty-seven reais and twenty-one cents (BRL 140,117,247.21) approved at the 2022 Annual General Shareholders&#8217; Meeting for such year, therefore representing forty-nine million, seven hundred and forty-four thousand, two hundred and thirteen reais and forty-four cents (BRL 49,744,213.44) less than originally approved. </font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><a name="_Hlk35107161"></a>Considering the issues above, in particular the aforementioned unforeseeable or non-definitive circumstances, as well as the change in the compensation strategy adopted for the Board of Directors and reflected for the 12 months in 2023 which, following the best market practices for the Directors&#8217; compensation with full dedication and also considering the responsibilities attributed by their participation in Advisory Committees, included the long-term variable compensation component to comprise the total compensation of the members of the Board of Directors, the Company proposes to maintain the overall annual compensation amount that may be attributed to the Company&#8217;s Management at the same level as that approved for the 2022 fiscal year, without any increase, thus translating into a clear commitment by the Company to continually offer its shareholders and the market in general scenarios that are as close as possible to the Company&#8217;s reality and its expected performance and of its managers.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-style:italic;">For further information on this matter, please see the document contained in Exhibit VI</i><font style="font-family:'Times New Roman','Times','serif';"> </font><i style="font-family:'Times New Roman','Times','serif';font-style:italic;">of this Proposal, under Section 8 of the Reference Form and RCVM 81/22.</i></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-style:italic;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">(6) Resolve the amendment to the caput of Article 5 of the Company&#39;s Bylaws, to reflect the number of shares into which the Company&#39;s share capital is divided, due to the cancellation of treasury shares approved at the Board of Directors&#39; Meeting held on February 28, 2023.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Due to the cancellation of thirty-seven million, one hundred and forty-five thousand, nine hundred and sixty-nine </font><font style="font-size:12pt;"><a name="_Hlk127516658"></a></font><font style="font-family:'Times New Roman','Times','serif';">(37,145,969)</font><font style="font-family:'Times New Roman','Times','serif';"> common shares issued by the Company held in treasury, acquired within the scope of the Company&#39;s share buyback programs approved in the Board of Directors&#8217; Meetings held on May 4, 2022 and July 27, 2022, without reducing the share capital, approved at the Board of Directors&#8217; Meeting held on February 28, 2023, the Management proposes to amend the caput of Article 5 of the Company&#39;s Bylaws, to reflect the number of shares into which the Company&#39;s share capital is divided, which is now divided into one billion, three hundred and twenty-four million, one hundred and seventeen thousand, six hundred and fifteen </font><font style="font-size:12pt;"><a name="_Hlk127524281"></a></font><font style="font-family:'Times New Roman','Times','serif';">(1,324,117,615)</font><font style="font-family:'Times New Roman','Times','serif';"> common shares, all registered, book-entry and with no par value.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-style:italic;">The abovementioned amendments are attached to this proposal as Exhibit VII, containing the proposed changes, detailing the relevant changes origin and justification, analyzing their legal and economic effects pursuant to Section 12 of RCVM 81/22.</i></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">(7) Resolve on the consolidation of the Company&#39;s Bylaws, to reflect the amendment of its Article 5 object of the resolution described in item 6 above.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">If the resolution described in item 6 above is approved, the Company&#39;s Management proposes the approval of the consolidated version of the Company&#39;s Bylaws, to reflect the amendment of Article 5 regarding the number of shares into which the Company&#8217; share capital is divided, which is now divided into one billion, three hundred and twenty-four million, one hundred and seventeen thousand, six hundred and fifteen (1,324,117,615) common shares, all registered, book-entry and without par value.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-family:'Times New Roman','Times','serif';font-style:italic;">The Bylaws&#8217; consolidated version is attached to this proposal as Exhibit VIII, under article 12 of RCVM 81/22.</i></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Additional Information and Where to Find It </b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">The documents provided in the Brazilian Corporations Law and in RCVM 81/22 were submitted to CVM on the date hereof, through the Periodic Information System (IPE) and are available to </font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">shareholders at the Company&#39;s headquarters, on its investor relations website (</font><font style="font-family:'Times New Roman','Times','serif';">www.suzano.com.br/ri</font><font style="font-family:'Times New Roman','Times','serif';">), as well as on the websites of CVM (</font><font style="font-family:'Times New Roman','Times','serif';">www.cvm.gov.br</font><font style="font-family:'Times New Roman','Times','serif';">) and B3 (</font><font style="font-family:'Times New Roman','Times','serif';">http://www.b3.com.br</font><font style="font-family:'Times New Roman','Times','serif';">). </font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Reinforcing its commitment to sustainability, Suzano informs that the main indicators, policies and positions regarding sustainability are available at the Company&#8217;s Indicators Center. The Company also annually discloses its non-financial information based on internationally recognized reporting frameworks, such as the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), and Global Reporting Initiative (GRI). In 2023, in order to meet the interest for voting guidance in Meetings, Suzano informs that the publication of such information will be made available prior to the Annual and Extraordinary General Shareholders&#8217; Meetings. The Sustainability Center and the Annual Report, with data corresponding to the 2022 performance, can be accessed through the link: http://centraldesustentabilidade.suzano.com.br/.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Marcelo Feriozzi Bacci</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Chief Financial and Investor Relations Office</b><font style="font-size:12pt;"><a name="_Toc67036186"></a><a name="_Toc67036193"></a><a name="_Toc67036200"></a><a name="_Toc67036284"></a><a name="_Toc67036291"></a><a name="_Toc67036342"></a><a name="_Toc67036352"></a><a name="_Toc67036416"></a><a name="_Toc67036343"></a></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">r</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:8.95pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:-0.07%;position:absolute;top:-5.65pt;width:429pt;z-index:251666432;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:-0.07%;position:absolute;top:0.35pt;width:427.5pt;z-index:251668480;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:16pt;line-height:16pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">II.</td><td style="padding:0pt;"><b style="font-family:'Calibri Light';font-size:16pt;font-style:normal;font-weight:bold;"><a name="_Toc130463272"></a></b><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Comments from Officers (Section 2 &#8211; CVM Resolution No. 80/22)</b></td></tr></table><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-0.05pt;width:427.5pt;z-index:251670528;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0%;position:absolute;top:5.95pt;width:429pt;z-index:251672576;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2. Comments from Officers</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:28.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;"><a name="_Toc98941695"></a><a name="_Toc97210206"></a><a name="_Toc97209899"></a><a name="_Toc97209775"></a></font><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">2.1</b></font><b style="font-weight:bold;">General financial and equity conditions</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#8217;s consolidated annual information, which is presented throughout item 2 of the Reference Form, has been prepared according to the standards of the Brazilian Securities and Exchange Commission (CVM) and the Accounting Pronouncements Committee (CPC), and is in compliance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The Company&#8217;s unaudited intermediate and consolidated accounting information, which is also presented throughout item 2 of the Reference From, has been prepared according to IAS 34 &#8211; Intermediate Financial Statements, issued by IASB, and the accounting practices adopted in Brazil for intermediate statements (Technical Pronouncement - CPC 21 - &#8220;Intermediate Financial Information&#8221;). The data contained in this document have been obtained from the financial information made available to CVM. The Company also informs that the information contained in section 2 of the Reference From has been prepared in millions of reais and the balances may differ due to rounding used to maintain the consistency of the document.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">a)</font><a name="_Toc98941696"></a><a name="_Toc97210207"></a><a name="_Toc97209900"></a><a name="_Toc97209776"></a><b style="font-size:11pt;font-weight:bold;">general financial and equity conditions</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Board of Officers understands that the Company has financial and equity conditions sufficient to perform its short and mid-term obligations. The Company has been focusing its efforts on the search of facilities with longer terms and more competitive costs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the fiscal years ended on December 31, 2022, 2021 and 2020, the Company recorded, respectively, a net <font style="font-size:12pt;">profit </font>of BRL <font style="font-size:12pt;"><a name="_Hlk126586469"></a></font>23,394.9 million, a net profit of BRL 8,635.5 million and a loss of BRL 10,714.9 million. Variations in the Company&#8217;s results in 2022 are mostly due to the increase in the operating result of BRL 4,042.6 million by virtue of the greater net price in all business units in Real and Dollar during the year and the positive variation of BRL 15,780.0 million in the financial income, as a result of the exchange valuation on the debt and on the mark-to-market of the derivatives transactions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Adjusted EBITDA in the twelve-month period ended on December 31, 2022 was BRL 28,194.9 million, in 2021 was BRL 23,471 million and in 2020 was BRL 14,949.5 million. The cash generation measured by EBITDA in the twelve-month period ended on December 31, 2022 mainly reflects: (a) increase of the cellulose and paper prices; (b) appreciation of Dollar in relation to Real; and (c) stability of the sales volume. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Company&#8217;s net equity in the year ended on December 31, 2022 was BRL 33,166.4 million, on December 31, 2021 was BRL 15,175.1 million, and on December 31, 2020 was BRL 7,337.4 </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">million. The variation occurred most of all due to the net profit of the year of BRL 23,394.9 million. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On December 31, 2022, the Company had a cash and cash equivalents position and financial investments of BRL 17,471.7 million, on December 31, 2021 of BRL 21,349.1 million, and in 2020, of BRL 9,231.9 million. On December 31, 2022, the consolidated net debt was a total of BRL 57,102.9 million, on December 31, 2021, was BRL 58,280.0 million, and on December 31, 2020, was BRL 63,668.0 million. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Throughout 2022, the Company increased its net debt in USD by 5%, ending the year with a leverage of 2.0x in dollar, measured by the net debt/adjusted EBITDA of the last twelve months. On December 31, 2021, the ratio was 2.4x in Dollar. On 31 December, 2020, the ratio was 4.3x in Dollar. The increase of net debt in Dollar is mostly explained by the impact of the exchange variation on the debt balance and cash in BRL.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Adjusted EBITDA, in turn, was calculated considering Earnings Before Interests, Taxes, Depreciation and Amortization, minus the adjustments of non-recurrent items, as detailed in item 2.5 of the Reference Form.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">b)</font><a name="_Toc98941697"></a><a name="_Toc97210208"></a><a name="_Toc97209901"></a><a name="_Toc97209777"></a><b style="font-size:11pt;font-weight:bold;">capital structure</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The percentage of capital composed by shareholders&#8217; equity (Shareholders&#8217; Equity divided by the Total Liabilities) was 24.9% on December 31, 2022, 12.8% on December 31, 2021, and 7.2% on December 31, 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The percentage of capital composed by creditors&#8217; equity (Creditors&#8217; Equity divided by the Total Liabilities) was 75.1% on December 31, 2022, 87.2% on December 31, 2021, and 92.8% in 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">There is no provision in the Company&#8217;s Bylaws for the redemption of shares.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Historically, the Company funds its operations from a combination of resources arising from: (i) its operating activities; (ii) investments from its shareholders; and (iii) loans and financing contracted with the financial market.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><a name="_Toc98941698"></a><a name="_Toc97210209"></a><a name="_Toc97209902"></a><a name="_Toc97209778"></a><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td colspan="6" style="vertical-align:top;width:58.33%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Consolidated</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">(amounts expressed In million Reais)</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">On December 31,</b></p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.71%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2022</b></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">AV-% </b><sup style="font-size:6pt;font-weight:bold;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2021</b></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">AV-% </b><sup style="font-size:6pt;font-weight:bold;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2020</b></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">AV-% </b><sup style="font-size:6pt;font-weight:bold;vertical-align:top;">(1)</sup></p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;margin:0pt;">Third-parties&#8217; capital (current and non-</p></td><td style="vertical-align:top;width:9.71%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;margin:0pt;">current liabilities) <sup style="font-size:6pt;vertical-align:top;">(2)</sup></p></td><td style="vertical-align:top;width:9.71%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">100,031.6</p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">75%</p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">103,800.0</p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">87%</p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">94,463.4</p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">93%</p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;margin:0pt;">Own capital(net equity)</p></td><td style="vertical-align:top;width:9.71%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">33,166.3</p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">25%</p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">15,175.1</p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">13%</p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">7,337.4</p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">7%</p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">Total Capital (third-parties&#8217; capital + own capital)</b></p></td><td style="vertical-align:top;width:9.71%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">133,197.9</b></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">100%</b></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">118,975.1</b></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">100%</b></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">101,800.8</b></p></td><td style="vertical-align:top;width:9.72%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">100%</b></p></td></tr><tr style="height:3pt;"><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.71%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.71%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:8pt;text-align:justify;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">Vertical analysis (1)</font></p></td><td style="vertical-align:top;width:9.71%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.71%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.66%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:8pt;text-align:justify;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">It includes the balance of liabilities related to non-current assets maintained for sale (2)</font></p></td><td style="vertical-align:top;width:9.71%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.72%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri Light';font-size:16pt;font-weight:bold;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;margin-bottom:3pt;margin-top:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">c)</font><b style="font-size:11pt;font-weight:bold;">payment capacity in relation to the financial commitments undertaken</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#8217;s fundraising and cash management policy is driven by the concept of &#8220;liquidity horizon&#8221;, which provides the time frame during which the available cash resources, added to operating cash generation and funds arising from financing contracted and undisbursed, estimated under unfavorable market conditions, are capable of bearing the payment of all obligations contracted for the period, including all amortizations of principal and interest on short-term financing. The available cash balance as of December 31, 2022 is capable of supporting the next two years of long-term debt, as shown in the amortization chart in item 2.1(f) below. For maturities above these periods, we must consider an estimate of operating cash generation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Based on the above, the Executive Board of Officers is committed to maintaining the Company&#8217;s economic-financial balance, and for this, it relies on existing resources, operating cash generation, access to capital markets and financing at competitive costs, in addition to several alternatives analyzed by the Company whenever necessary. The Company&#8217;s Officers believe that the operating cash flow, added to cash and cash equivalents, are sufficient to meet the financial commitments contracted.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the twelve-month period ended December 31, 2022, and in the fiscal years ended December 31, 2021 and 2020, the Company fully complied with its commitments. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">d)</font><a name="_Toc98941699"></a><a name="_Toc97210210"></a><a name="_Toc97209903"></a><a name="_Toc97209779"></a><b style="font-size:11pt;font-weight:bold;">sources of financing for working capital and investments in non-current assets used</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company raises funds, when necessary, through financial contracts, which are used to finance the Company&#8217;s working capital needs and short- and medium-term investments, as well as to maintain cash and cash equivalents at a level that the Company believes to be appropriate for the performance of its activities. The Company&#8217;s financing and loans are detailed in item &#8220;2.1.f.&#8221; below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Working capital financing, as shown in the Financing and Loans table below, was carried out via export financing operations, which allow the matching of the flows of export receipts with the flows of payments of these financings, bringing as an additional advantage the protection of export receivables against exchange rate risk, and through forfaiting operations and letter of credit discounts, where appropriate.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">For project financing, the Company contracted loans from Development Banks and other project-oriented financing institutions that offer competitive conditions, including principal and interest payment terms compatible with the flows of returns from the projects, in order to avoid its implementation from putting pressure on the Company&#8217;s capacity to pay.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company also used, as financing alternatives, the issuance of senior notes (bonds), such as the placement of debt securities in the international market, and debentures and agribusiness </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">receivables certificates (<i style="font-style:italic;">Certificados de Receb&#237;veis do Agroneg&#243;cio</i> - CRAs), as the placement of debt securities in the domestic market.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">e)</font><a name="_Toc98941700"></a><a name="_Toc97210211"></a><a name="_Toc97209904"></a><a name="_Toc97209780"></a><b style="font-size:11pt;font-weight:bold;">sources of financing for working capital and for investments in non-current assets that it intends to use to cover liquidity deficiencies</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company has an elevated level of liquidity and consistent internal cash generation, which, together with access to the capital markets, as indicated in items &#8220;2.1.a.&#8221; and &#8220;2.1.b.&#8221;, are sufficient to satisfactorily balance its short- and medium-term commitments. If there are any mismatches between cash and amounts maturing in the short-term, the Company may contract new lines of credit for working capital and investments, and these lines of credit will be treated on a case-by-case basis. The sources of financing used by the Company for working capital and for short and long-term investments are indicated in items &#8220;2.1.d&#8221; and &#8220;2.1.f&#8221;.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">f)</font><a name="_Toc98941701"></a><a name="_Toc97210212"></a><a name="_Toc97209905"></a><a name="_Toc97209781"></a><b style="font-size:11pt;font-weight:bold;">Indebtedness levels and the characteristics of such debts</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">(i)</font><b style="font-weight:bold;">relevant loan and financing agreements</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#8217;s consolidated financing and loans as of December 31, 2022, and in the fiscal years ended on December 31, 2021, and 2020, had the following sources (in thousands of Reais): </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt -28.35pt;"><font style="margin-bottom:6pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="align-items:center;display:flex;flex-direction:column;left:0pt;margin-left:auto;margin-right:auto;position:relative;top:12.6pt;width:100%;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:100%;"><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><b style="font-weight:bold;">FINANCING AND LOANS</b></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.05pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.05pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td colspan="3" style="vertical-align:middle;width:25.85%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.05pt 2.25pt 0pt 4.85pt;"><b style="font-weight:bold;">Consolidated</b></p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.05%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.15pt;text-align:center;margin:0pt 2.25pt 0pt 0pt;"><b style="font-weight:bold;">Indexer</b></p></td><td style="vertical-align:middle;width:8.28%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.25pt 2.25pt 0pt 0pt;"><b style="font-weight:bold;">Average Annual interest rate on 12/31/2022</b></p></td><td style="vertical-align:middle;width:10.29%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.25pt 2.25pt 0pt 4.85pt;"><b style="font-weight:bold;">Maturities</b></p></td><td style="vertical-align:middle;width:9.27%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.25pt 2.25pt 0pt 4.85pt;"><b style="font-weight:bold;">12/31/2022</b></p></td><td style="vertical-align:middle;width:8.57%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.25pt 2.25pt 0pt 4.85pt;"><b style="font-weight:bold;">12/31/2021</b></p></td><td style="vertical-align:middle;width:8%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.05pt 2.25pt 0pt 4.85pt;"><b style="font-weight:bold;">12/31/2020</b></p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;">Fixed Assets:</p></td><td style="vertical-align:top;width:18.05%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.57%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.05pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6.15pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.25pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.05pt 2.25pt 0pt 4.85pt;"><font style="font-size:6pt;letter-spacing:-0.1pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.15pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;">BNDES-Finem </p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.15pt;text-align:right;margin:0pt 2.25pt 0pt 0pt;">Fixed rate/TJLP/TLP/SELIC</p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.25pt 2.25pt 0pt 0pt;">12.51%</p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.25pt 2.25pt 0pt 4.85pt;">2023 to 2042</p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0.25pt 2.25pt 0pt 4.85pt;">3,037,238</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0.25pt 2.25pt 0pt 4.85pt;">1,980,986</p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0.05pt 2.25pt 0pt 4.85pt;">3,322,347</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;">BNDES-Finem <sup style="font-size:4.5pt;vertical-align:top;">(b)</sup></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.8pt;text-align:right;margin:0.94pt 2.25pt 0pt 0pt;">Currency basket/USD</p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.55pt;text-align:center;margin:1.2pt 2.25pt 0pt 0pt;">5.22%</p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:center;margin:1.45pt 2.25pt 0pt 4.85pt;">2023</p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">11,207</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">26,351</p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">26,992</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.8pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;">Financial leasing</p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.8pt;text-align:right;margin:0.94pt 2.25pt 0pt 0pt;"><i style="font-style:italic;">USD/Sofr</i></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.55pt;text-align:center;margin:1.2pt 2.25pt 0pt 0pt;">3.76%</p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:center;margin:1.45pt 2.25pt 0pt 4.85pt;">2027</p></td><td style="vertical-align:top;width:9.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">139,972</p></td><td style="vertical-align:top;width:8.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">-</p></td><td style="vertical-align:top;width:8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">-</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.8pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;"><font style="font-size:5.8pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.8pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;"><font style="font-size:5.8pt;font-style:italic;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.55pt;text-align:center;margin:1.2pt 2.25pt 0pt 0pt;"><font style="font-size:5.55pt;letter-spacing:-0.1pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.3pt;text-align:center;margin:1.45pt 2.25pt 0pt 4.85pt;"><font style="font-size:5.3pt;letter-spacing:-0.2pt;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">3,188,417</p></td><td style="vertical-align:top;width:8.57%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">2007.337</p></td><td style="vertical-align:top;width:8%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:right;margin:1.45pt 2.25pt 0pt 4.85pt;">3,349,339</p></td></tr><tr><td colspan="5" style="vertical-align:top;width:83.41%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0.05pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.3pt;text-align:justify;margin:1.35pt 2.25pt 0pt 0pt;">Working capital:</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.3pt;text-align:right;margin:0pt 9.95pt 0pt 0pt;"><font style="font-size:5.3pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:4.85pt;text-align:right;margin:3.5pt 0pt 0pt 10pt;"><font style="font-size:4.85pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;">Export financing <sup style="font-size:4.5pt;vertical-align:top;">(g)</sup></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0pt 2.25pt 0pt 0pt;"><i style="font-style:italic;">USD/Libor</i></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt 2.25pt 0pt 0pt;">5.87%</p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">2023 to 2027</p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0pt;">18,328,727</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0pt;">20,128,018</p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0pt;">21,510,062</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:justify;margin:0.1pt 2.25pt 0pt 0pt;">Export credit note and Agribusiness Receivables Certificates <sup style="font-size:4.5pt;vertical-align:top;">(h)</sup></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.6pt;text-align:right;margin:3.25pt 2.25pt 0pt 0pt;">CDI/IPCA</p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:2.25pt 2.25pt 0pt 0pt;">12.73%</p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:2.25pt 0pt 0pt 1.5pt;">2023 to 2026</p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:2.04pt 6.4pt 0pt 0pt;">3,184,045</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:2.25pt 8.95pt 0pt 0pt;">4,565,064</p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:2.25pt 5.7pt 0pt 0pt;">4,347,912</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:justify;margin:2.04pt 2.25pt 0pt 0pt;">Senior Notes <sup style="font-size:4.5pt;vertical-align:top;">(i)</sup></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:4.19pt 2.25pt 0pt 0pt;">USD/Fixed rate</p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:4.19pt 2.25pt 0pt 0pt;">4.59%</p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:4.19pt 0pt 0pt 1.5pt;">2025 to 2047</p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:4.19pt 6.35pt 0pt 0pt;">44,125,345</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:3.95pt 8.4pt 0pt 0pt;">47,225,060</p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:4.19pt 5.15pt 0pt 0pt;">38,011,600</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:justify;margin:1.54pt 2.25pt 0pt 0pt;">Rural Producer Credit <sup style="font-size:4.5pt;vertical-align:top;">(j)</sup></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:1.54pt 2.25pt 0pt 0pt;">CDI</p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:1.79pt 2.25pt 0pt 0pt;">12.74%</p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.2pt;text-align:center;margin:2.04pt 0pt 0pt 1.5pt;">2025 to 2025</p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.2pt;text-align:right;margin:2.04pt 6.65pt 0pt 0pt;">287,271</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.2pt;text-align:right;margin:2.04pt 8.7pt 0pt 0pt;">281,187</p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:6.2pt;text-align:right;margin:2.04pt 5.25pt 0pt 0pt;">276,316</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:justify;margin:0.69pt 2.25pt 0pt 0pt;">Debentures</p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0.69pt 2.25pt 0pt 0pt;">CDI</p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0.94pt 2.25pt 0pt 0pt;">14.21%</p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:1.2pt 0pt 0pt 1.5pt;">2025 to 2028</p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0.94pt 6.6pt 0pt 0pt;">5,454,806</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:0.94pt 8.4pt 0pt 0pt;">5,440,068</p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:1.2pt 5.4pt 0pt 0pt;">5,422,651</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;">Others </p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:1.45pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:1.45pt 0pt 0pt 1.5pt;">2023</p></td><td style="vertical-align:top;width:9.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:1.45pt 6.35pt 0pt 0pt;">5,980</p></td><td style="vertical-align:top;width:8.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:1.45pt 7.2pt 0pt 0pt;">(18105)</p></td><td style="vertical-align:top;width:8%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:right;margin:1.45pt 4.7pt 0pt 0pt;">(17,998)</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.5pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;"><font style="font-size:5.5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.05pt;text-align:center;margin:1.39pt 0pt 0pt 1.5pt;"><font style="font-size:5.05pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 6.3pt 0pt 0pt;">71,386,174</p></td><td style="vertical-align:top;width:8.57%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 6.25pt 0pt 0pt;">77.621292</p></td><td style="vertical-align:top;width:8%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 3.5pt 0pt 0pt;">69,550,543</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.5pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;"><font style="font-size:5.5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.05pt;text-align:center;margin:1.39pt 0pt 0pt 1.5pt;"><font style="font-size:5.05pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 6.3pt 0pt 0pt;">74,574,591</p></td><td style="vertical-align:top;width:8.57%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 6.25pt 0pt 0pt;">79,628,629</p></td><td style="vertical-align:top;width:8%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 3.5pt 0pt 0pt;">72,899,882</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.5pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;"><b style="font-weight:bold;">Current portion (includes interest payable)</b></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.05pt;text-align:center;margin:1.39pt 0pt 0pt 1.5pt;"><font style="font-size:5.05pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 6.3pt 0pt 0pt;">3,335,031</p></td><td style="vertical-align:top;width:8.57%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 6.25pt 0pt 0pt;">3,655,537</p></td><td style="vertical-align:top;width:8%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 3.5pt 0pt 0pt;">2,043,386</p></td></tr><tr><td style="vertical-align:top;width:37.5%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:5.5pt;text-align:justify;margin:0.94pt 2.25pt 0pt 0pt;"><b style="font-weight:bold;">Non-current portion</b></p></td><td style="vertical-align:top;width:18.05%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:8.28%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 0pt;"><font style="font-size:6pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:10.29%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:5.05pt;text-align:center;margin:1.39pt 0pt 0pt 1.5pt;"><font style="font-size:5.05pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 6.3pt 0pt 0pt;">71,239,560</p></td><td style="vertical-align:top;width:8.57%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 6.25pt 0pt 0pt;">75,973,092</p></td><td style="vertical-align:top;width:8%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;line-height:4.85pt;text-align:right;margin:1.39pt 3.5pt 0pt 0pt;">70,856,496</p></td></tr></table></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt -28.35pt;"><font style="margin-bottom:6pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;text-indent:-28.35pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">a)</font>If the Long-Term Interest Rate (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">TJLP</u>&#8221;) exceeds 6% per year, the excess portion is included within the principal and subject to interest. Transactions subject to the Long-Term Rate (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">TLP</u>&#8221;) are composed of the IPCA and a fixed interest rate from Banco Nacional de Desenvolvimento Social (BNDES).</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">b)</font>Loans and financing are secured, depending on the contract, by (i) factory mortgages; rural </div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;">properties; (iii) chattel mortgage of the asset being financed; (iv) shareholder guarantee; and (v) bank guarantee.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">c)</font>On November 18, 2021, the Company raised from BNDES the amount of BRL 200 million indexed by TLP, plus fixed interest of 1.77 per year, maturing in November 2034. On March 29, 2022, the Company raised from BNDES the amount of BRL 243,000 indexed by the Long-Term Interest Rate (&#8220;TLP&#8221;) plus fixed interest of 2.33% p.a., with two (2) years of grace period of principal, and maturity in May 2036. These funds were intended to industrial projects. On September 29, 2022, the Company raised from BNDES the amount of BRL 50,000 indexed by the Long-Term Interest Rate (&#8220;TLP&#8221;) plus fixed interest of 1.77% p.a., with seven (7) years of grace period of principal, and maturity in November 2034. These funds were intended to forest projects. On November 29, 2022, the Company raised from BNDES the amount of BRL 400,000 indexed by the Long-Term Interest Rate (&#8220;TLP&#8221;) plus fixed interest of 1.75% p.a., with two (2) years of grace period of principal, and maturity in October 2042. These funds were intended to industrial projects. On December 27, 2022, the Company raised from BNDES the amount of BRL 400,000 indexed by the Long-Term Interest Rate (&#8220;TLP&#8221;) plus fixed interest of 1.65% p.a., with seven (7) years of grace period of principal, and maturity in December 2037. These funds were intended to forest projects. </div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">d)</font>On June 29, 2018, the Company carried out the 6th issue of debentures not convertible into shares, of the unsecured type, in the amount of BRL 4,681,100,000.00, with interest corresponding to 112.50% of the DI rate, with the payment of the unit par value occurring in two installments, the first due on June 30, 2025 and the second on June 29, 2026.</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">e)</font>On September 15, 2019, the Company carried out the 8th issue of debentures non-convertible into shares, of the unsecured type, in the amount of BRL 750,000,000.00, with compensatory interest corresponding to 100% of the DI rate plus 1.20%, with semi-annual payments, and payment of the unit face value in a single installment due on September 15, 2028.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">f)</font>In March 2017, Suzano Austria issued Senior Notes in the amount of USD 300 million due on March 16, 2047, with semi-annual interest payments of 7.00% per year and a final return to investors of 7.38% per year. Additionally, in the last quarter of 2017, Suzano, through its subsidiary Suzano Trading, repurchased Senior Notes in the amount of USD 456 million and, through Suzano Austria, reopened the issues of Senior Notes in the amounts of (i) USD 200 million, maturing on July 14, 2026, and interest corresponding to 4.62% per year, to be paid semi-annually, in the months of January and July, and (ii) USD 200 million maturing on March 16, 2047, with interest corresponding to 6.30% per year, to be paid semi-annually in March and September. In September 2018, there was a new issue of Senior Notes, in the amount of USD 1.0 billion, with interest of 6.00% per year and due in 2029. In November 2018, Suzano Austria reopened the issue of Senior Notes due on March 16, 2047, in the amount of USD 500 million, with interest corresponding to 6.85% per year, to be paid semi-annually in March and September. In February 2019, Suzano Austria reopened the September 2018 issue, with a fixed interest rate of 6.00% p.a. in the amount of USD 750 million, maturing in 2029. In May 2019, Suzano Austria reopened the March 2017 issuance in the amount of USD 250 million due in 2047 and payment of semiannual interest of 7.00% per year and issued Senior Notes in the amount of USD 1 billion due in January 2030, semi-annual payment of interest of 5.00% per year. In September 2020, Suzano Austria issued Global Notes in the amount of USD 750 million due in 2031 and paying interest of 3.75% per year from January 15, 2021, and 4.00% per year from July 16, 2026. In November 2020, Suzano Austria reopened the Global Notes due in 2031, issued two months earlier, in the amount of USD 500 million and with the same contractual conditions described above. On July 1, 2021, Suzano Austria issued Senior Notes in the amount of USD1 billion due January 15, 2032, with semi-annual interest payments of 3.125% per year and a final return to investors of 3.280% per year. On September 8, 2021, Suzano Austria issued Senior Notes in the amount of USD 500 million </div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;">maturing on September 15, 2028, with semi-annual interest payments of 2.50% per year and a final return to investors of 2.70% per year.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">g)</font>In December 2018, the Company, through its subsidiary Suzano Europa, contracted a syndicated loan in the amount of USD 2,300 million, contracted in March 2018, with quarterly interest payments and principal amortization between December 2022 and December 2023. In June 2019, the Company, through its subsidiaries Fibria Overseas Finance and Suzano International Trade, contracted a syndicated loan in the amount of USD 750 million with quarterly interest payments and principal amortization between March 2024 and June 2025. On February 14, 2020, the Company, through its wholly owned subsidiaries Suzano Pulp and Paper Europe S.A., Suzano Austria GmbH and Fibria Overseas Finance Ltd., entered into a syndicated export prepayment agreement in the amount of USD 850 million, with quarterly interest payments due in February 2026. On April 2, 2020, the Company, through its subsidiary Suzano Pulp and Paper Europe S.A., withdrew USD 500 million with quarterly interest payments and principal amortization in February 2024, but in August of the same year, settled the amount related to this contract. On February 10, 2021, the Company, through its subsidiary Suzano Europa, contracted a syndicated loan linked to sustainability, in the amount of USD 1,570 million, with quarterly interest payments and principal amortization between March 2015 and March 2027.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">h)</font>In the third quarter of 2018, two Export Credit Notes were contracted with Banco Safra S.A., totaling BRL 1.3 billion, indexed to CDI, with interest of 0.08% per month, amortization of principal and interest on June 25, 2025, and June 25, 2026, maturing in 2026. Regarding Agribusiness Receivables Certificates, Fibria&#8217;s open positions at the end of 2019 were included due to the merger of the companies.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">i)</font>In the third quarter of 2018, a Financial Rural Producer Certificate was contracted with Banco Safra S.A., with a volume of BRL 275 million, indexed to the CDI, with interest of 0.08% per month, amortization of principal and interests on August 28, 2025 and August 28, 2026 and with maturity in 2026.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">j)</font>It mostly refers to the &#8220;added value&#8221; in relation to the Company&#8217;s business combination with Fibria, in 2020.</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><i style="font-style:italic;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Other Financial Agreements</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Between 2018 and 2019, the Company contracted swap transaction notes with Banco Bradesco S.A., with a total volume of BRL 5 billion, with interest of 3.16% p.a., 5.67% p.a., 5.70% p.a., 5.74% p.a., 5.79% p.a. and 5.98% p.a. and maturing on June 22, 2023, December 14, 2023 and June 29, 2026. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On June 6, 2018, the Company entered into an agreement with Banco BNP Paribas Brasil S.A. for derivative transactions, in the amount of BRL980 million, bearing interest of 4.05% p.a. and maturing on February 13, 2023.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On August 10, 13, 16, 20, 2018 and February 20, 2020 and February 22, 2021, the Company signed with Banco Credit Agricole Brasil S.A. contracts for derivative transactions, in the total volume of BRL 3.3 billion, with interest of 4.075% p.a., 4.069% p.a., 4.062% p.a. and 4.057% p.a., 2.488%, 2.35% and maturities on January 2, 2024, February 13, 2026 and March 8, 2027.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Between February and June 2019 and in February 2021, the Company entered into contracts with Banco J.P. Morgan S.A. for derivative transactions, in the total volume of BRL1.3 billion, with an interest rate of 3.25%, 2,89%, 2.33% and 2.52% p.a. with maturities between February and June 2024 and March 2027.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On May 03, 06 and 07, 2019, the Company signed contracts with Banco MUFG Brasil S.A. for derivative transactions, in the total volume of BRL 270 million, with an interest rate of 3.08% p.a., 3.12% p.a. and 3.15% p.a. and maturities on June 22 and August 14, 2023.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On August 10, 13, 16, 20, 2018, the Company entered into contracts with Banco Morgan Stanley S.A. for derivative transactions, in the total volume of BRL 2.5 billion, with interest of 4.069% p.a., 4.057 % p.a., 4.066% p.a. and 4.054% p.a. and maturity on January 2, 2024.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On July 31 and August 31, 2018, the Company entered into contracts with Banco Safra S.A. for derivative transactions, in the total volume of BRL1.5 billion, with interest of 5.705% p.a. and 5.60% p.a. and due on July 31 and August 28, 2026.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In 2018, 2019, 2020 and 2022, the Company entered into contracts with Banco Santander (Brasil) S.A. for derivative transactions, in the total volume of BRL 2 billion, with accrual of interest between 83.7% and 84.10% of the CDI, and interest between 1.76% p.a. and 5.77% p.a., and maturities between February 2023 and November 2034.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Between 2018 and 2020, the Company entered into contracts with Banco Ita&#250; Unibanco S.A. for derivative transactions, in the total volume of BRL 3.1 billion, bearing interest between 1.76% p.a. and 5.79% p.a. and maturities between February 2023 and June 2025.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In 2022, the Company entered into an agreement with Bank of America for derivative transactions, in the total volume of BRL 1.3 billion, bearing interest of 2.88% p.a. and maturing in January 2024.</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"> <font style="font-size:12pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Also in 2022, the Company entered into contracts with Banco XP for derivative transactions, in the total volume of BRL 250 million, with interest of 77.95% of the CDI and maturity in May 2036.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><a name="_Toc98941702"></a><a name="_Toc97210213"></a><a name="_Toc97209906"></a><a name="_Toc97209782"></a><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Amortizations</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The amortization schedule of the financial obligations in effect on December 31, 2022, as well as the exposure of the Company&#8217;s indebtedness by indexers, is presented below: </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2010.jpg" alt="Graphic" style="display:inline-block;height:164.5pt;left:0%;padding-bottom:0.5pt;position:relative;top:0pt;width:361.5pt;"></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:99.88%;"><tr><td style="vertical-align:top;width:50%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Portuguese</b></p></td><td style="vertical-align:top;width:50%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;"><b style="font-weight:bold;">English</b></p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Cronograma de Amortiza&#231;&#227;o (R$ milh&#245;es)</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Amortization schedule (BRL million)</p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Liquidez</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Liquidity</p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Caixa F&#237;sico</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Available Cash</p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">D&#237;vida</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Debt</p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">2028 em diante</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">2028 and on</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941703"></a><a name="_Toc97210214"></a><a name="_Toc97209907"></a><a name="_Toc97209783"></a></font><font style="font-style:italic;font-weight:bold;">Exposure by Instruments and Indicators on December 31, 2022</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2011.jpg" alt="Graphic" style="display:inline-block;height:188.5pt;left:0%;padding-bottom:0.5pt;position:relative;top:0pt;width:364pt;"></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:99.88%;"><tr><td style="vertical-align:top;width:50%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Portuguese</b></p></td><td style="vertical-align:top;width:50%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;"><b style="font-weight:bold;">English</b></p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Exposi&#231;&#227;o por Instrumento</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Exposure by instrument</p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Financiamento de exporta&#231;&#227;o</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Export funding</p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Outros</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Others</p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Deb&#234;nture</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Debenture</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:99.88%;"><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Fixa</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Fixed</p></td></tr><tr><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Exposi&#231;&#227;o por Indicador</p></td><td style="vertical-align:top;width:50%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;text-align:justify;margin:0pt;">Exposure by Indicator</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">(ii)</font><b style="font-weight:bold;">other long-term relationships with financial institutions</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Although there are no other debt-related contracts besides the one described above, the Company maintains commercial relations with the main financial agents in the market, aiming at prompt access to credit facilities for eventual demands for working capital and investment financing.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">(iii)</font><a name="_Toc98941704"></a><a name="_Toc97210215"></a><a name="_Toc97209908"></a><a name="_Toc97209784"></a><b style="font-weight:bold;">degree of subordination between debts</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">As of December 31, 2022, and December 31, 2021 and 2020, the Company&#8217;s indebtedness consisted of secured debt and unsecured debt, with no contractual subordination clause. Thus, in any universal contest of creditors, the subordination between the obligations recorded in the financial statements will take place in the following order, in accordance with Law No. 11,101, of February 9, 2005, as amended: (i) labor claims; (ii) credits with security interest up to the limit of the value of the encumbered asset; (iii) tax credits; (iv) credits with special privileges as provided for in Law No. 11,101/2005; (v) credits with general privilege as provided for in Law No. 11,101/2005; (vi) unsecured credits; (vii) fines and pecuniary penalties; and (viii) subordinated credits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">(iv)</font><a name="_Toc98941705"></a><a name="_Toc97210216"></a><a name="_Toc97209909"></a><a name="_Toc97209785"></a><b style="font-weight:bold;">any restrictions imposed on the Company, in particular, in relation to indebtedness limits and contracting of new debts, the distribution of dividends, the disposal of assets, the issuance of new securities and the disposal of corporate control, as well as whether the issuer has been complying with these restrictions.</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company has no financial covenants in its current financing contracts. In certain financing contracts there are clauses of non-financial covenants, including, but not limited to, restrictions on disposal of control. These clauses essentially provide for the maximum level of assignment of receivables, guarantees to third parties and sale of operating assets, which are also in compliance.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The relevant loans and funding (above 10% of the total gross debt) that have a cross acceleration clause are described bellow:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">9 Bond contracts, in a total of BRL 44,125 million in the consolidated balance sheet on December 31, 2022;</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:36pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">6 Export Prepayment agreements (export funding), in a total of BRL 18,329 million in the consolidated balance sheet on December 31, 2022;</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 54pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The above ratio represents aproximately 84% of the Company&#8217;s gross indebtedness reported as of December 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Additionally, the Company has financial agreements with <i style="font-style:italic;">Banco Nacional de Desenvolvimento Social</i> (BNDES), in which there are certain restrictions and specific obligations, such as (i) prior </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">consent from BNDES for the Company&#8217;s merger, spin-off, dissolution, incorporation, reduction or closing of capital or change in effective control, whether direct or indirect, or any other corporate restructuring process involving the Company; (ii) inclusion of BNDES in corporate agreements, articles of association, or corporate agreement of a provision that results in restriction or impairment to the ability to pay the financial obligations assumed by the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company, in the normal course of its operations, has observed all applicable contractual provisions and states that it follows all obligations assumed in its financial contracts.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">g)</font><a name="_Toc98941706"></a><a name="_Toc97210217"></a><a name="_Toc97209910"></a><a name="_Toc97209786"></a><b style="font-size:11pt;font-weight:bold;">Limits of contracted financing and percentages already used</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">As of December 31, 2022, there were six contracts in force with balances pending disbursement and usage limits. Below are the contracts: </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="padding-left:0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:100.01%;"><tr><td rowspan="2" style="color:#ffffff;vertical-align:middle;width:9.88%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Financial Agent</p></td><td rowspan="2" style="color:#ffffff;vertical-align:middle;width:13.33%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Contract</p></td><td rowspan="2" style="color:#ffffff;vertical-align:middle;width:14.99%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">Financing  </font></p></td><td rowspan="2" style="color:#ffffff;vertical-align:middle;width:9.12%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Indexer</p></td><td rowspan="2" style="color:#ffffff;vertical-align:middle;width:9.06%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Interest Rate (p.a.)</p></td><td rowspan="2" style="color:#ffffff;vertical-align:middle;width:13.3%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Maturity</p></td><td colspan="2" style="color:#ffffff;vertical-align:middle;width:15%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Disbursements Made</p></td><td colspan="2" style="color:#ffffff;vertical-align:middle;width:15.28%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Available Balance</p></td></tr><tr><td style="display:none;vertical-align:middle;width:9.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="display:none;vertical-align:middle;width:13.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="display:none;vertical-align:middle;width:14.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="display:none;vertical-align:middle;width:9.12%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="display:none;vertical-align:middle;width:9.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="display:none;vertical-align:middle;width:13.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="color:#ffffff;vertical-align:top;width:9.7%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Value</p></td><td style="color:#ffffff;vertical-align:top;width:5.3%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">%</p></td><td style="color:#ffffff;vertical-align:top;width:9.8%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Value</p></td><td style="color:#ffffff;vertical-align:top;width:5.47%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">%</p></td></tr><tr><td style="vertical-align:top;width:9.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">ECA</p></td><td style="vertical-align:top;width:13.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;margin:0pt;">Credit Limit</p></td><td style="vertical-align:top;width:14.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">USD 800 million</p></td><td style="vertical-align:top;width:9.12%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">Fixed</p></td><td style="vertical-align:top;width:9.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">4.63%</p></td><td style="vertical-align:top;width:13.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">11/1/2032</p></td><td style="vertical-align:top;width:9.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:5.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:9.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">USD 800 million</p></td><td style="vertical-align:top;width:5.47%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">100%</p></td></tr><tr><td style="vertical-align:top;width:9.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">IFC</p></td><td style="vertical-align:top;width:13.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;margin:0pt;">Credit Limit</p></td><td style="vertical-align:top;width:14.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">USD 250 million</p></td><td style="vertical-align:top;width:9.12%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">SOFR</p></td><td style="vertical-align:top;width:9.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">SOFR + 1.80%</p></td><td style="vertical-align:top;width:13.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">12/22/2030</p></td><td style="vertical-align:top;width:9.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:5.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:9.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">USD 250 million</p></td><td style="vertical-align:top;width:5.47%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">100%</p></td></tr><tr><td style="vertical-align:top;width:9.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">IFC</p></td><td style="vertical-align:top;width:13.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;margin:0pt;">Credit Limit</p></td><td style="vertical-align:top;width:14.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">USD 350 million</p></td><td style="vertical-align:top;width:9.12%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">SOFR</p></td><td style="vertical-align:top;width:9.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">SOFR + 1.60%</p></td><td style="vertical-align:top;width:13.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">12/22/2029</p></td><td style="vertical-align:top;width:9.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:5.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:9.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">USD 350 million</p></td><td style="vertical-align:top;width:5.47%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">100%</p></td></tr><tr><td style="vertical-align:top;width:9.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BNDES</p></td><td style="vertical-align:top;width:13.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;margin:0pt;">Credit Limit</p></td><td style="vertical-align:top;width:14.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BRL 3 billion</p></td><td style="vertical-align:top;width:9.12%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">TLP</p></td><td style="vertical-align:top;width:9.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">IPCA + 1.70%</p></td><td style="vertical-align:top;width:13.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">2/15/2040</p></td><td style="vertical-align:top;width:9.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BRL 800 million</p></td><td style="vertical-align:top;width:5.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">27%</p></td><td style="vertical-align:top;width:9.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BRL 2.2 billion</p></td><td style="vertical-align:top;width:5.47%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">73%</p></td></tr><tr><td style="vertical-align:top;width:9.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BNDES</p></td><td style="vertical-align:top;width:13.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;margin:0pt;">Credit Limit</p></td><td style="vertical-align:top;width:14.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BRL 706 million</p></td><td style="vertical-align:top;width:9.12%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">TLP</p></td><td style="vertical-align:top;width:9.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">IPCA + 3.6%</p></td><td style="vertical-align:top;width:13.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">11/16/2034</p></td><td style="vertical-align:top;width:9.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BRL 650 million</p></td><td style="vertical-align:top;width:5.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">91%</p></td><td style="vertical-align:top;width:9.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BRL 56 million</p></td><td style="vertical-align:top;width:5.47%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">9%</p></td></tr><tr><td style="vertical-align:top;width:9.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BNDES</p></td><td style="vertical-align:top;width:13.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;margin:0pt;">Credit Limit</p></td><td style="vertical-align:top;width:14.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BRL 432 million</p></td><td style="vertical-align:top;width:9.12%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">SELIC</p></td><td style="vertical-align:top;width:9.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">SELIC + 1.96%</p></td><td style="vertical-align:top;width:13.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">2/15/2040</p></td><td style="vertical-align:top;width:9.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">BRL 432 million</p></td><td style="vertical-align:top;width:5.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">100%</p></td><td style="vertical-align:top;width:9.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:top;width:5.47%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;text-align:center;margin:0pt;">-</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">h)</font><a name="_Toc98941707"></a><a name="_Toc97210218"></a><a name="_Toc97209911"></a><a name="_Toc97209787"></a><b style="font-size:11pt;font-weight:bold;">significant changes in items of the income and cash flow statements</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><i style="font-style:italic;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Basis of preparation and presentation</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-style:italic;visibility:hidden;">&#8203;</font></p><div style="margin-left:-30.9pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:106.56%;"><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td colspan="8" style="vertical-align:top;width:58.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt;">Consolidated</p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td colspan="8" style="vertical-align:top;width:58.76%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt;">(amounts expressed In million Reais)</p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td colspan="8" style="vertical-align:top;width:58.76%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">On December 31,</b></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">2022</b></p></td><td style="vertical-align:top;width:7.45%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#301f37;font-weight:bold;">AV-% </b><sup style="color:#301f37;font-size:3.75pt;font-weight:bold;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">2021</b></p></td><td style="vertical-align:top;width:6.98%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#301f37;font-weight:bold;">AV-% </b><sup style="color:#301f37;font-size:3.75pt;font-weight:bold;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:6.97%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">Variation%</b></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">2020</b></p></td><td style="vertical-align:top;width:7.79%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#301f37;font-weight:bold;">AV-% </b><sup style="color:#301f37;font-size:3.75pt;font-weight:bold;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:6.16%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Variation%</b></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">SALES GROSS REVENUE</b></p></td><td style="vertical-align:top;width:9.02%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">59,550.4</b></p></td><td style="vertical-align:top;width:7.45%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">120%</b></p></td><td style="vertical-align:top;width:7.1%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">48,479.8</b></p></td><td style="vertical-align:top;width:6.98%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#4085cd;font-weight:bold;">118.3%</b></p></td><td style="vertical-align:top;width:6.97%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#5494d3;font-weight:bold;">22.8%</b></p></td><td style="vertical-align:top;width:7.25%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">35,663.7</b></p></td><td style="vertical-align:top;width:7.79%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#4085cd;font-weight:bold;">117.1%</b></p></td><td style="vertical-align:top;width:6.16%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><b style="color:#4085cd;font-weight:bold;">36.9%</b></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">Deductions from sales</p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(9,719.5)</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-20%</font></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(7,514.4)</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-18.3%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#5494d3;">29.3%</font></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(5,203.5)</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#5882c4;">-17.1%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#227dc8;">44.4%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">NET REVENUE</b></p></td><td style="vertical-align:top;width:9.02%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">49,830.9</b></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#4085cd;font-weight:bold;">100%</b></p></td><td style="vertical-align:top;width:7.1%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">40,965.4</b></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#4085cd;font-weight:bold;">100.0%</b></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">21.6%</b></p></td><td style="vertical-align:top;width:7.25%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">30,460.2</b></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">100.0%</b></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><b style="color:#227dc8;font-weight:bold;">34.5%</b></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">Costs of products sold</p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(24,821.3)</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-50%</font></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(20,615.6)</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#4085cd;">50.3%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">20.4%</font></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(18,966.3)</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-62.3%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#4085cd;">8.7%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">GROSS PROFIT</b></p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">25,009.6</b></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">50%</b></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">20,349.8</b></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">49.7%</b></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">22.9%</b></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">11,493.9</b></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">37.7%</b></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><b style="color:#4085cd;font-weight:bold;">77.0%</b></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.02%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.1%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.25%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-size:5pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">OPERATING REVENUES (EXPENSES)</b></p></td><td style="vertical-align:top;width:9.02%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.1%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.25%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-size:5pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">Sales</p></td><td style="vertical-align:top;width:9.02%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(2,483.2)</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-5%</font></p></td><td style="vertical-align:top;width:7.1%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(2,291.7)</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-5.6%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#4085cd;">8.4%</font></p></td><td style="vertical-align:top;width:7.25%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(2,174.6)</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#5882c4;">-7.1%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#4085cd;">5.4%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">General and administrative</p></td><td style="vertical-align:top;width:9.02%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(1,709.8)</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-3%</font></p></td><td style="vertical-align:top;width:7.1%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(1,577.9)</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#4085cd;">-3.9%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#4085cd;">8.4%</font></p></td><td style="vertical-align:top;width:7.25%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(1,443.2)</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">4.7%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#5494d3;">9.3%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">Result of equity equivalency</p></td><td style="vertical-align:top;width:9.02%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">284.4</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#5882c4;">1%</font></p></td><td style="vertical-align:top;width:7.1%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">51.9</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">0.1%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#4085cd;">448.0%</font></p></td><td style="vertical-align:top;width:7.25%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">36.1</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#5882c4;">0.1%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#4085cd;">43.8%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">Others, net</p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">1,121.8</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">2%</font></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">1,648.0</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">4.0%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#5494d3;">-31.9%</font></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">531.1</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">1.7%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#4085cd;">210.3%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">OPERATING RESULT BEFORE FINANCIAL RESULT</b></p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">22,222.8</b></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">45%</b></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">18,180.1</b></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">44.4%</b></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">22.2%</b></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">8,443.3</b></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">27.7%</b></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><b style="color:#227dc8;font-weight:bold;">115.3%</b></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.02%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.1%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.25%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="color:#227dc8;font-size:5pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">FINANCIAL RESULT</b></p></td><td style="vertical-align:top;width:9.02%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.1%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.25%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-size:5pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">Expenses</p></td><td style="vertical-align:top;width:9.02%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(4,590.4)</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-9%</font></p></td><td style="vertical-align:top;width:7.1%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(9,619.8)</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-23.5%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-52.3%</font></p></td><td style="vertical-align:top;width:7.25%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(26,412.9)</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">-86.7%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#5494d3;">-63.6%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">Revenue</p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">11,023.1</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">22%</font></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">272.6</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#4085cd;">0.7%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">3943.7% </font></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">327.5</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#5882c4;">1.1%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#4085cd;">-16.8%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">RESULT BEFORE INCOME TAX AND SOCIAL CONTRIBUTION</b></p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">28,655.5</b></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">58%</b></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">8,832.9</b></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">21.6%</b></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">224.4% </font></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">(17,642.1)</b></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">-57.9%</b></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><b style="color:#4085cd;font-weight:bold;">-150.1%</b></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:9.02%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.1%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.25%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;font-size:5pt;font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="color:#4085cd;font-size:5pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;">Income tax and social contribution</p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(5,260.6)</p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#4085cd;">-11%</font></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">(197.4)</p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#4085cd;">-0.5%</font></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">2564.9%</font></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;">6,927.2</p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">22.7%</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><font style="color:#4085cd;">-102.8%</font></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">PROFIT (LOSS) OF THE FISCAL YEAR</b></p></td><td style="vertical-align:top;width:9.02%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">23,394.9</b></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">47%</b></p></td><td style="vertical-align:top;width:7.1%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">8,635.5</b></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">21.1%</b></p></td><td style="vertical-align:top;width:6.97%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="color:#227dc8;">170.9% </font></p></td><td style="vertical-align:top;width:7.25%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="font-weight:bold;">(10,714.9)</b></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><b style="color:#227dc8;font-weight:bold;">-35.2%</b></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;text-align:right;margin:0pt;"><b style="color:#227dc8;font-weight:bold;">-180.6%</b></p></td></tr><tr><td style="vertical-align:top;width:41.23%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;margin:0pt 6.6pt 0pt 0pt;"><font style="display:inline-block;text-indent:0pt;width:36pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-size:5pt;font-style:normal;font-weight:normal;">(1)</font></font>Representation in relation to Net Revenue</p></td><td style="vertical-align:top;width:9.02%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.45%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.1%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.98%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="vertical-align:top;width:14.22%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:7.79%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt 6.6pt 0pt 0pt;"><font style="font-size:5pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:6.16%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-size:5pt;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-style:italic;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-style:italic;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941708"></a><a name="_Toc97210219"></a><a name="_Toc97209912"></a><a name="_Toc97209788"></a></font><b style="font-family:'Times New Roman Negrito';font-weight:bold;">Comparative Analysis of Consolidated Results</b><b style="font-family:'Times New Roman Negrito';font-weight:bold;"> </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941709"></a><a name="_Toc97210220"></a><a name="_Toc97209913"></a><a name="_Toc97209789"></a></font><b style="font-family:'Times New Roman Negrito';font-weight:bold;">Comparative Analysis of Consolidated Results - Twelve-month periods ended December 31, 2022, and 2021</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Net Revenue</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#39;s net revenue in the twelve-month period ended on December 31, 2022, was BRL49,831.0 million, 22% higher than the net revenue recorded in the twelve-month period ended on December 31, 2021, of BRL 40,965.4 million, as a result of a higher net price in all business units in real and dollar during the year. The sales volume, in its turn, was practically stable, when compared to the same period in the previous year. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Net revenue from pulp sales in the twelve-month period ended on December 31, 2022 totaled BRL 41,384.3 million, 19% higher than the revenue presented in the twelve-month period ended on December 31, 2021, which totaled BRL 34,715.2 million, as a result of the 24% increase in the net average price in dollar, Revenue from pulp represented 84.7% of total revenue for the twelve-month period ended on December 31, 2021, compared to 83.3 % for the twelve-month period ended on December 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Pulp revenue from exports was BRL 38,718.6 million in the twelve-month period ended on December 31, 2022, 21% higher than pulp exports in the twelve-month period ended on December 31, 2021, as a result of the 24% increase in the net average price in Dollar.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The average net international pulp price in the twelve-month period ended on December 31, 2022, increased 24%, from USD 613/ton in the twelve-month period ended December 31, 2021 to USD 761/ton in 2022. In the domestic market, the average net price of pulp increased 26%, from BRL 2,936/ton in the twelve-month period ended on December 31, 2021 to BRL 3,549/ton in the same period in 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Net revenue from paper sales in the twelve-month period ended on December 31, 2022 totaled BRL 8,446.6 million, 35% higher than in the same period of the previous year, due the higher prices in Reais. Of this revenue, 69.4% came from sales in the domestic market and 30.6% from the foreign market. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The international average net paper price in the twelve-month period ended on December 31, 2022 was USD 1,412/ton, 51% higher than the price in the same period in 2021. In the domestic market, the average price registered was BRL 6,159/ton in the twelve-month period ended on 31 December 2022, 30% above the price in the same period in 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Cost of Goods Sold (&#8220;COGS&#8221;)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#39;s cost of goods sold in the twelve-month period ended on December 31, 2022 totaled BRL 24,821.3 million, 20% higher than the value recorded in the same period in 2021, which is BRL 20,615.6 million, mainly due to the increase of pulp production cash cost (+28%) and raise of the Brent, affecting the logistics costs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Gross profit</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Due to the reasons explained above, gross profit in the twelve-month period ended on December 31, 2022, was BRL 25,009.7 million, 23% higher than the gross profit for the same period in 2021, of BRL 20,349.8 million. Suzano&#8217;s gross margin increased from 49.7% in the twelve-month period ended on December 31, 2021, to 50.2% for the same period in 2022, due to the reasons explained above.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Selling and Administrative Expenses</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#39;s selling expenses totaled BRL 2,483.2 million in the twelve-month period ended on December 31, 2022, 8% higher than the amount recorded in the same period in 2021, of BRL2,291.7 million. The variation can be explained by the increase in logistics and personnel expenses. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s general and administrative expenses totaled BRL1,709.8 million in the twelve-month period ended on December 31, 2022, 8% higher than the amount recorded in the same period in 2021 of BRL 1,577.9 million. The variation can be mainly explained by the increase in personnel expenses.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Other Operating Expenses/Revenues</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s other net operating expenses/revenues totaled BRL1,121.7 million in revenue in the twelve-month period ended on December 31, 2022, compared to revenue of BRL 1,648.1 million in the same period in 2021. The variation refers mainly to the lower tax liabilities related to the right to exclusion of ICMS from the calculation bases of the contributions to PIS and COFINS, and a greater result in the sale of fixed and biological assets, partially offset by the greater adjustment ot the biological asset&#8217;s fair value.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Net Financial Result</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The net financial result was positive in BRL 6,433.8 million in the twelve-month period ended on December 31, 2022, compared to a negative result of BRL 9,346.5 million in the same period in 2021. This performance reflects most of all the reduction of the impact of exchange effects on the debt and position of derivatives in 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Income tax and social contribution on profit</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s income tax and social contribution for the twelve-month period ended on December 31, 2022, was a debt of BRL 5,260.7 million, compared to a credit of BRL 197.4 million in the same period in 2021. The increase arises from earnings before income tax as a result of the strong operating result in the period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Net Profit (Loss)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Due to the above reasons, Suzano recorded a net profit of BRL 23,395.9 million in the twelve-month period ended on December 31, 2022, compared to a net loss of BRL 8,635.5 million recorded in the same period of the previous year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Comparative Analysis of Consolidated Results - Twelve-month periods ended 31 December 2021 and 2020</b><b style="font-weight:bold;"> </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941710"></a><a name="_Toc97210221"></a><a name="_Toc97209914"></a><a name="_Toc97209790"></a></font><font style="font-style:italic;font-weight:bold;">Net Revenue</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s net revenue in the twelve-month period ended December 31, 2021 was BRL40,965.4 million, 34.5% higher than the net revenue recorded in the twelve-month period ended December 31, 2020, of BRL 30,460.3 million, as a result of (i) 33% increase in pulp sales price in US dollars, (ii) 11% increase in US dollar sales price of paper, and (iii) currency exchange depreciation Real x Dollar in the period in question.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Net revenue from pulp sales in the twelve-month period ended on December 31, 2021 totaled BRL34,715.2 million, 35.7% higher than the revenue presented in the twelve-month period ended on December 31, 2020, as a result of (i) the 33% increase in the pulp sales price in US dollars, and (ii) the depreciation of the Real x Dollar exchange rate in the period in question. Revenue from pulp represented 84.0% of total revenue for the twelve-month period ended on 31 December 2020, compared to 84.7% for the twelve-month period ended on 31 December, 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Pulp revenue from exports was BRL32,376.4 million in the twelve-month period ended December 31, 2021, 35.1% higher than pulp exports in the twelve-month period ended December 31, 2020, as a result of (i) a 32% increase in pulp sales price in US dollars; and (ii) depreciation of the Real x Dollar exchange rate in the period in question.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The average net international pulp price in the twelve-month period ended on 31 December 2021 increased 32%, from USD 463/ton in the twelve-month period ended 31 December, 2020 to USD 613/ton in 2021. In the domestic market, the average net price of pulp increased 43.5%, from BRL 2,046/ton in the twelve-month period ended on 31 December 2020 to BRL 2,936/ton in the same period in 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Net revenue from paper sales in the twelve-month period ended on December 31, 2021, totaled BRL 6,250.2 million, 28.0% higher than in the same period of the previous year. Of this revenue, 66.0% came from sales in the domestic market and 34.0% from the foreign market. Net revenue from the domestic market increased by 30.4% compared to the twelve-month period ended on December 31, 2020, mainly impacted by the increase in prices, the depreciation of the Real x Dollar currency in the period and the increase in sales volume (+17.4%).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The international average net paper price in the twelve-month period ended on 31 December 2021 was USD 933/ton, 18% higher than the price in the same period in 2020. In the domestic market, the average price registered was BRL 4,746/ton in the twelve-month period ended on 31 December 2021, 13% above the price in the same period in 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941711"></a><a name="_Toc97210222"></a><a name="_Toc97209915"></a><a name="_Toc97209791"></a></font><font style="font-style:italic;font-weight:bold;">Cost of Goods Sold (&#8220;COGS&#8221;)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s cost of goods sold in the twelve-month period ended on December 31, 2021 totaled BRL 20,615.6 million, 8.7% higher than the BRL 18,966.3 million recorded in the same period in 2020, due to mainly, the inflationary pressure related to the increase in commodity prices, increase of BRL 268.9 million in depreciation, amortization and depletion, and depreciation of the real against the US dollar. This gain was partially offset by the reduction in sales volume in the twelve-month period ended December 31, 2021, when compared to the same period in 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941712"></a><a name="_Toc97210223"></a><a name="_Toc97209916"></a><a name="_Toc97209792"></a></font><font style="font-style:italic;font-weight:bold;">Gross profit</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Due to the reasons explained above, gross profit in the twelve-month period ended on 31 December 2021 was BRL 20,349.8 million, 77.0% higher than the gross profit for the same period in 2020, of BRL 11,493.9 million. Suzano&#8217;s gross margin increased from 37.7% in the twelve-month period ended on 31 December 2020, to 49.7% for the same period in 2021, due to the reasons explained above.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941713"></a><a name="_Toc97210224"></a><a name="_Toc97209917"></a><a name="_Toc97209793"></a></font><font style="font-style:italic;font-weight:bold;">Selling and Administrative Expenses</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#39;s selling expenses totaled BRL 2,291.7 million in the twelve-month period ended on 31 December 2021, 5.4% higher than the amount recorded in the same period in 2020, of BRL 2,174.7 million. The variation can be explained by the increase in logistics expenses of BRL80.0 million due to the depreciation of the Real against the US dollar, in addition to the increase in commodities, an increase of BRL 20.3 million related to depreciation, amortization and depletion, and an increase in personnel expenses in the amount of BRL 13.4 million in the twelve-month period ended December 31, 2021 when compared to the same period in 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s general and administrative expenses totaled BRL 1,577.9 million in the twelve-month period ended on December 31, 2021, 9.3% higher than the amount recorded in the same period in 2020 of BRL 1,443.2 million. The variation can be explained by the increase in personnel expenses in the amount of BRL 54.2 million, expenses with donations of BRL 25.0 million related to COVID-19, in addition to an increase of BRL 24.6 related to depreciation, amortization and depletion in the twelve-month period ended December 31, 2021 when compared to the same period in 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941714"></a><a name="_Toc97210225"></a><a name="_Toc97209918"></a><a name="_Toc97209794"></a></font><font style="font-style:italic;font-weight:bold;">Other Operating Expenses/Revenues</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s other net operating expenses/revenues totaled BRL 1,443.2 million in revenue in the twelve-month period ended December 31, 2021, compared to revenue of BRL531.2 million in the same period in 2020. The variation of the balance refers mainly to the gain excluding ICMS from the PIS/COFINS base in the amount of BRL 441.9 million, a gain not observed in 2020, a gain of BRL 405.7 million from the sale of properties, equipment and biological asset, in addition to the fair value adjustment of the biological asset, which was BRL 299.5 million higher in the twelve-month period ended December 31, 2021, compared to the same period in 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941715"></a><a name="_Toc97210226"></a><a name="_Toc97209919"></a><a name="_Toc97209795"></a></font><font style="font-style:italic;font-weight:bold;">Net Financial Result</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The net financial result was a negative BRL 9,346.5 million in the twelve-month period ended December 31, 2021, compared to a negative result of BRL 26,085.5 million in the same period in 2020. This result mainly reflects a decrease expense with derivative financial instruments by BRL 7,826 million and a decrease in expenses with monetary and exchange variations of BRL 8,730.1 million. The exchange rate variation on the balance sheet exposure between the opening of January 2021 and the closing of December 2021 contributed to this result, with an accounting impact on the debt in foreign currency, but with a cash effect only on maturities or amortizations of debt.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941716"></a><a name="_Toc97210227"></a><a name="_Toc97209920"></a><a name="_Toc97209796"></a></font><font style="font-style:italic;font-weight:bold;">Income tax and social contribution on profit</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s income tax and social contribution for the twelve-month period ended December 31, 2021, was a debt of BRL 197.4 million, compared to a credit of BRL 6,297.2 million in the same period in 2020. The increase arises from earnings before income tax as a result of the strong operating result in the period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941717"></a><a name="_Toc97210228"></a><a name="_Toc97209921"></a><a name="_Toc97209797"></a></font><font style="font-style:italic;font-weight:bold;">Net Profit (Loss)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Due to the above reasons, Suzano recorded a net profit of BRL 8,635.5 million in the twelve-month period ended on 31 December, 2021, compared to a net loss of BRL 10,714.9 million recorded in the same period of the previous year. This result was affected by the facts mentioned above.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941748"></a><a name="_Toc97210268"></a><a name="_Toc97209961"></a><a name="_Toc97209837"></a></font><b style="font-weight:bold;">Comparative Analysis of Consolidated Cash Flows</b><b style="font-weight:bold;"> </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr style="height:9.45pt;"><td style="vertical-align:top;width:63.37%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:8.4pt;margin:0pt 0pt 0pt 2.55pt;"><font style="font-size:8.4pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td colspan="3" style="vertical-align:top;width:36.62%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:center;margin:0pt 0pt 0pt 2.55pt;">Consolidated</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:center;margin:0pt 0pt 0pt 2.55pt;">(amounts expressed In million Reais)</p></td></tr><tr style="height:9.45pt;"><td style="vertical-align:top;width:63.37%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:8.4pt;margin:0pt 0pt 0pt 2.55pt;"><font style="font-size:8.4pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td colspan="3" style="vertical-align:top;width:36.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:center;margin:0pt 0pt 0pt 2.55pt;"><b style="font-weight:bold;">On December 31,</b></p></td></tr><tr style="height:9.45pt;"><td style="vertical-align:top;width:63.37%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:8.4pt;margin:0pt 0pt 0pt 2.55pt;"><font style="font-size:8.4pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:14.27%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:center;margin:0pt 0pt 0pt 2.55pt;"><b style="font-weight:bold;">2022</b></p></td><td style="vertical-align:top;width:12.21%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:center;margin:0pt 0pt 0pt 2.55pt;"><b style="font-weight:bold;">2021</b></p></td><td style="vertical-align:top;width:10.13%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:center;margin:0pt 0pt 0pt 2.55pt;"><b style="font-weight:bold;">2020</b></p></td></tr><tr style="height:9.45pt;"><td style="vertical-align:top;width:63.37%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;margin:0pt 0pt 0pt 2.55pt;">Cash provided by operating activities</p></td><td style="vertical-align:top;width:14.27%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">21,640.6</p></td><td style="vertical-align:top;width:12.21%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">17,637.5</p></td><td style="vertical-align:top;width:10.13%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.4pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">13,124.6</p></td></tr><tr style="height:10.45pt;"><td style="vertical-align:top;width:63.37%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.6pt;margin:0pt 0pt 0pt 2.55pt;">Cash used in investment activities, net</p></td><td style="vertical-align:top;width:14.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">(17,015.7)</p></td><td style="vertical-align:top;width:12.21%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">(10,358.7)</p></td><td style="vertical-align:top;width:10.13%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:8.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">(736.4)</p></td></tr><tr style="height:9.35pt;"><td style="vertical-align:top;width:63.37%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;margin:0pt 0pt 0pt 2.55pt;">Cash (used) generated in the financing activities</p></td><td style="vertical-align:top;width:14.27%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">(8,107.2)</p></td><td style="vertical-align:top;width:12.21%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">(1,573.9)</p></td><td style="vertical-align:top;width:10.13%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">(9,785.1)</p></td></tr><tr style="height:9.35pt;"><td style="vertical-align:top;width:63.37%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">Effects of exchange variation in cash and cash equivalents</p></td><td style="vertical-align:top;width:14.27%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">(602.5)</p></td><td style="vertical-align:top;width:12.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">1,050.8</p></td><td style="vertical-align:top;width:10.13%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;">982.8</p></td></tr><tr style="height:9.35pt;"><td style="vertical-align:top;width:63.37%;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;margin:0pt 0pt 0pt 2.55pt;"><b style="font-weight:bold;">Increase/reduction of cash and cash equivalents</b></p></td><td style="vertical-align:top;width:14.27%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;"><b style="font-weight:bold;">(4,084.8)</b></p></td><td style="vertical-align:top;width:12.21%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;"><b style="font-weight:bold;">6,755.7</b></p></td><td style="vertical-align:top;width:10.13%;border-bottom:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:8pt;line-height:7.6pt;text-align:right;margin:0pt 0pt 0pt 2.55pt;"><b style="font-weight:bold;">3,585.9</b></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Comparative Analysis of Cash Flow Statements - fiscal years ended on December 31, 2022, 2021 and 2020</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941749"></a><a name="_Toc97210269"></a><a name="_Toc97209962"></a><a name="_Toc97209838"></a></font><font style="font-style:italic;font-weight:bold;">Operating Activities</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Operating activities generated net cash in the amount of BRL 21,640.6 in the fiscal year ended in 2022. This generation is mainly associated with a gross profit of BRL 23,394.3, with effect of exchange and monetary variations of BRL3,294.6, which significantly influenced loans, financing and debentures, gains with derivatives, net of BRL 6,761.6 and a decrease in deferred income tax </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">and social contribution of BRL 4,749.8 as a result of the fluctuation in the rate of BRL 5.5805 on December 31 2021 when compared to BRL5.2177 on December 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Operating activities generated net cash in the amount of BRL 17,637.5 in 2021. This generation is mainly associated with a gross profit of BRL 8,635.5, reduction of the effects of exchange and monetary variations of BRL3,800.8, which significantly influenced loans, financing and debentures, loss with derivatives, net of BRL 1,597.7 and an increase in deferred income tax and social contribution of BRL 94.7 as a result of the fluctuation in the rate of BRL 5.1967 on December 31 2020 when compared to BRL 5.5805 on 31 December, 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Operating activities generated net cash in the amount of BRL 13,124.6 in the year 2020. This generation is mainly associated with a gross profit of BRL 11,493.9 and an improvement in working capital in accounts receivable, inventories and suppliers.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941750"></a><a name="_Toc97210270"></a><a name="_Toc97209963"></a><a name="_Toc97209839"></a></font><font style="font-style:italic;font-weight:bold;">Investment Activities</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In the year 2022, the investment activities consumed net cash of BRL 17,015. The amount invested is mainly composed of the acquisition of fixed assets in the amount of BRL 9,791.2, acquisition of biological assets in the amount of BRL 4,957.4 and the acquisition of equity interest (Parkia) in the amount of BRL 2,090.1.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In 2021, investment activities consumed net cash of BRL 10,358.7. The amount invested is mainly composed of the acquisition of fixed assets in the amount of BRL2,150.6, acquisition of biological assets in the amount of BRL3,807.6 and consumption of BRL5,216.9 of financial investments, net, partially offset by the receipt in the sale of assets, mainly through the sale of BRL395.8 million of forests (standing wood) to Bracell and BRL630.4 million of land to Turvinho. Additionally, we received BRL 50.0 million from Bracell registered as escrow account for the sale of forests (standing timber).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In 2020, investment activities consumed net cash of BRL736.4. The amount invested is mainly composed of the acquisition of fixed assets in the amount of BRL 1,503.2 and the acquisition of biological assets in the amount of BRL3,392.2 offset by the inverse effect of BRL 3,841.4 from financial investments, net.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941751"></a><a name="_Toc97210271"></a><a name="_Toc97209964"></a><a name="_Toc97209840"></a></font><font style="font-style:italic;font-weight:bold;">Financing Activities</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the 2022 fiscal year, BRL 8,107.2 million of net cash were used in financing activities. The cash use included the payment of dividends of BRL 4,150.8, share buybacks of BRL 1,904.4, settlements of loans, financing and debentures of BRL 2,517.9, lease agreements of BRL 1,044.1 and the receipt of BRL 282.2 from derivative transactions. This effect was offset by the raising of loans and financing and debentures of BRL 1,335.7 million, consisting mainly of BRL 1,093.0 from BNDES.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the 2021 fiscal year, BRL 1,573.9 million of net cash were used in financing activities. The cash use included the settlement of loans, financing, and debentures of BRL 15,469.4, derivative transactions of BRL 1,921.3, and lease agreements of BRL 1,012.1. This effect was offset by the raising of loans and financing and debentures of BRL 16,992.0 million, consisting mainly of BRL </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">8,481.8 in export prepayments (EPP), BRL 5,005.5 of Sustainability-linked Notes 2032 (&#8220;Notes 2032&#8221;) and BRL 2,609.5 of total Repurchase of Senior Bonds 2024.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the 2020 fiscal year, BRL 9,785.1 million of net cash were used in financing activities. The cash use included the settlement of loans, financing, and debentures of BRL 19,092.8 and derivative transactions of BRL 4,465.6. This effect was offset by the raising of loans and financing and debentures of BRL 14,761.7 million, which consisted mainly of BRL 4,899.1 in export prepayments, BRL 2,638.2 in the revolving credit facility, BRL 6,640.3 in Senior notes (Bonds) and BRL 531.7 in contracts with BNDES.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Calibri Light';font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2.2. Comments from Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">a)</font><b style="font-weight:bold;">results of the Company&#39;s transactions</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Please find bellow the comments made by Suzano&#8217;s Statutory Executive Board of Officers corresponding to the analysis (i) of the important revenue components, and (ii) of the main factors that materially affected the operating results, which in both cases are: sales level (volume and revenue by product), sales destination (mix between the national market and different export regions), market share and prices. Other extrogenous factors, over which the Company has little or no control, are discussed in item &#8220;2.2.b&#8221;.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941753"></a><a name="_Toc67165657"></a></font><font style="font-style:italic;font-weight:bold;">Pulp Sales</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the fiscal years ended December 31, 2022, 2021, and 2020, the Company&#39;s pulp sales represented, respectively, 83%, 84.7% and 84.0% of its total net operating revenue. The exports volume represented 92.9%, 92.5%, and 92.7% of the total sold volume of pulp in these same periods. Export sales volume was 9.8 million tons, 9.8 million tons, and 10.0 million tons in the fiscal years ended December 31, 2022, 2021, and 2020, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;table-layout:auto;width:93.63%;" align="center"><tr style="height:15.7pt;"><td rowspan="2" style="color:#ffffff;vertical-align:top;width:40.01%;background:#001f5f;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total pulp sales</b></p></td><td colspan="3" style="color:#ffffff;vertical-align:top;width:59.98%;background:#001f5f;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Fiscal year ended December 31,</b></p></td></tr><tr style="height:15.65pt;"><td style="display:none;vertical-align:middle;width:40.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"></td><td style="color:#ffffff;vertical-align:top;width:19.99%;background:#001f5f;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2022</b></p></td><td style="color:#ffffff;vertical-align:top;width:20%;background:#001f5f;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:top;width:19.99%;background:#001f5f;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2020</b></p></td></tr><tr style="height:15.7pt;"><td colspan="4" style="vertical-align:top;width:100%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Company sales (in thousand tons)</b></p></td></tr><tr style="height:15.7pt;"><td style="vertical-align:top;width:40.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Domestic market sales volume</font></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">751</font></p></td><td style="vertical-align:top;width:20%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">797</font></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">787</font></p></td></tr><tr style="height:15.65pt;"><td style="vertical-align:top;width:40.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Foreign market sales volume</font></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">9,848</font></p></td><td style="vertical-align:top;width:20%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">9,789</font></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">10,036</font></p></td></tr><tr style="height:15.7pt;"><td style="vertical-align:top;width:40.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total sales volume</b></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">10,600</b></p></td><td style="vertical-align:top;width:20%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">10,586</b></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">10,823</b></p></td></tr><tr style="height:15.7pt;"><td colspan="4" style="vertical-align:top;width:100%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Company&#39;s Net Operating Revenue (in BRL million)</b></p></td></tr><tr style="height:15.65pt;"><td style="vertical-align:top;width:40.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Domestic market sales</font></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">38,718.6</font></p></td><td style="vertical-align:top;width:20%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">32,376.4</font></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">23,968.8</font></p></td></tr><tr style="height:15.7pt;"><td style="vertical-align:top;width:40.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Foreign market sales</font></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">2,665.7</font></p></td><td style="vertical-align:top;width:20%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">2,338.8</font></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1,609.4</font></p></td></tr><tr style="height:15.65pt;"><td style="vertical-align:top;width:40.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total net operating revenue</b></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">41,384.3</b></p></td><td style="vertical-align:top;width:20%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">34,715.2</b></p></td><td style="vertical-align:top;width:19.99%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">25,578.3</b></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941754"></a><a name="_Toc67165658"></a></font><font style="font-style:italic;font-weight:bold;">Pulp Sales Destination</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company seeks to sell its production with a focus on profitability. For this purpose, the allocation of sales prioritizes the most profitable markets and customers, within the margin allowed by the commercial policy.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:10pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-2.122528%;table-layout:auto;width:104.24%;" align="center"><tr style="height:14.95pt;"><td style="color:#ffffff;vertical-align:top;width:40.03%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Pulp Revenue by Region&#185;</b></p></td><td style="color:#ffffff;vertical-align:top;width:19.98%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2022</b></p></td><td style="color:#ffffff;vertical-align:top;width:19.98%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:top;width:19.98%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2020</b></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:40.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Europa</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">30%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">30%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">25%</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:40.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Asia</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">45%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">46%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">51%</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:40.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Brazil</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">7%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">7%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">6%</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:40.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">North America</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">16%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">16%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">17%</font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-2.122528%;table-layout:auto;width:104.24%;" align="center"><tr style="height:15pt;"><td style="vertical-align:top;width:40.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">South / Central America</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1%</font></p></td><td style="vertical-align:top;width:19.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1%</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">1- Data provided annually by the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Also in line with our commercial policy, we seek a balance in pulp sales to the different paper segments. The sanitary paper segment stands out, which in 2022 remained with a significant share in our sales mix, being the main segment covered by Suzano.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.0642052%;table-layout:auto;width:102.12%;" align="center"><tr style="height:14.95pt;"><td style="color:#ffffff;vertical-align:top;width:39.66%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Pulp sales by segment&#185;</b></p></td><td style="color:#ffffff;vertical-align:top;width:20.1%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2022</b></p></td><td style="color:#ffffff;vertical-align:top;width:20.11%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:top;width:20.11%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2020</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:39.66%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Sanitary paper</font></p></td><td style="vertical-align:top;width:20.1%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">63%</font></p></td><td style="vertical-align:top;width:20.11%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">63%</font></p></td><td style="vertical-align:top;width:20.11%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">64%</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:39.66%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Print &amp; Write</font></p></td><td style="vertical-align:top;width:20.1%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">16%</font></p></td><td style="vertical-align:top;width:20.11%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">17%</font></p></td><td style="vertical-align:top;width:20.11%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">16%</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:39.66%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Specialties</font></p></td><td style="vertical-align:top;width:20.1%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">14%</font></p></td><td style="vertical-align:top;width:20.11%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">13%</font></p></td><td style="vertical-align:top;width:20.11%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">12%</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:39.66%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Others</font></p></td><td style="vertical-align:top;width:20.1%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">6%</font></p></td><td style="vertical-align:top;width:20.11%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">7%</font></p></td><td style="vertical-align:top;width:20.11%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">8%</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">1- Data provided annually by the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941755"></a><a name="_Toc67165659"></a></font><font style="font-style:italic;font-weight:bold;">Pulp Price</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The average net sales price in Dollars of Suzano&#8217;s pulp (domestic and foreign markets) was USD 686/ton in the six months period ended June 30, 2022, compared to USD 575/ton in the six months ended June 30, 2021. This variation in the average net sale price of pulp was explained by the international pulp prices behavior.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The average net price in Dollars of Suzano&#8217;s pulp sales (domestic and foreign markets) was USD 756/ton in 2022, compared to USD 608/ton in 2021, and USD 458/ton in 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The increase in the average net sale price of pulp in 2022 vs.<i style="font-style:italic;"> </i>2021 was explained by the behavior of international pulp prices. The total average net price of pulp (domestic and foreign market) in Reais was BRL 3,950/ton in 2022, 20% above the price achieved in 2021, as a result of the national currency depreciation against the US Dollar in the period (average exchange rate).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941756"></a><a name="_Toc67165660"></a></font><font style="font-style:italic;font-weight:bold;">Paper Sales</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In 2022, the domestic paper market grew by 1% in aggregate demand for the products that Suzano produces and sells compared to 2021, according to data from the Brazilian Tree Industry (<i style="font-style:italic;">Ind&#250;stria Brasileira de &#193;rvores </i>- Ib&#225;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The demand levels maintenance is explained by the high comparison base in 2021, when I&amp;E paper was also sold to the cardboard segment, a trend that lost strength in 2022, in addition to the strong performance in the editorial, didactic and school and office paper markets (cut size).<i style="font-style:italic;"> </i>In addition, the Company continues to accelerate initiatives that certainly position Suzano in a differentiated manner in the market, such as the growth of direct sales through the &#8220;Suzano Mais&#8221; Program, expansion of the innovation portfolio, e-commerce strengthening in addition to advances in average paper prices in 2022 against 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In 2022, 2021, and 2020, the Company&#39;s paper sales volume for the foreign market was, respectively, 27.1%, 28.7%, and 31.9% of the total paper volume.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the fiscal years ended 2022, 2021, and 2020, the Company&#39;s paper sales represented, respectively, 14.6%%, 15.3%, and 16.0% of its total net operating revenue.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941757"></a><a name="_Toc67165661"></a></font><font style="font-style:italic;font-weight:bold;">Paper Sales Destination</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The volume sold in the domestic market reached 951 thousand tons in 2022, compared to 923 thousand tons in 2021 and 802 thousand tons in 2020. Export volumes reached 355 thousand tons in 2022, 371 thousand tons in 2021, and 375 thousand tons in 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The breakdown of paper sales revenue by region is shown in the table below:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.7697525%;table-layout:auto;width:103.53%;" align="center"><tr style="height:14.95pt;"><td style="color:#ffffff;vertical-align:top;width:51.26%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Paper Revenue by Region&#185;</b></p></td><td style="color:#ffffff;vertical-align:middle;width:15.92%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2022</b></p></td><td style="color:#ffffff;vertical-align:middle;width:15.92%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:middle;width:16.88%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2020</b></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:51.26%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Brazil</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">69%</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">71%</font></p></td><td style="vertical-align:middle;width:16.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">66%</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:51.26%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">South / Central America</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">20%</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">15%</font></p></td><td style="vertical-align:middle;width:16.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">14%</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:51.26%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">North America</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">7%</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">7%</font></p></td><td style="vertical-align:middle;width:16.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">9%</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:51.26%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Europa</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">4%</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">4%</font></p></td><td style="vertical-align:middle;width:16.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">7%</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:51.26%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Others</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">0%</font></p></td><td style="vertical-align:middle;width:15.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">3%</font></p></td><td style="vertical-align:middle;width:16.88%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">4%</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">1- Data provided annually by the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941758"></a><a name="_Toc67165662"></a></font><font style="font-style:italic;font-weight:bold;">Paper Price</font><font style="font-style:italic;font-weight:bold;"> </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The average net paper price (domestic and foreign market) in Reais was BRL 6,467/ton in 2022, compared to BRL 4,829/ton in 2021 and BRL 4,148/ton in 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the domestic market, the average net paper price was BRL 6,159/ton, compared to BRL 4,746/ton in 2021 and BRL 4,188/ton in 2020. The average net price in the external market increased to USD 1,411/ton, compared to USD 933/ton in 2021 and USD 788/ton in 2020. &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941759"></a><a name="_Toc67165663"></a></font><font style="font-style:italic;font-weight:bold;">Printing and Writing Paper</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the fiscal years ended 2022, 2021, and 2020, respectively, the Company sold 970.2 thousand, 966.2 thousand, and 842.4 thousand tons of printing and writing paper. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In 2022, 2021, and 2020, according to the Brazilian Tree Industry (Ib&#225;), the Company held, respectively, shares (i) in the sales of Brazilian Manufacturers to the domestic market, of 46.0%, 44.4%, and 46.2%. In Brazilian exports (ii), the Company&#39;s share was 36.4%, 38.8%, and 35.3%.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The following tables contain the Company&#39;s domestic paper sales and exports, as well as information regarding its shares in such markets for the fiscal years ended December 31, 2022, 2021, and 2020. </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="padding-left:24.05pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:88.51%;"><tr style="height:24.75pt;"><td style="color:#ffffff;vertical-align:middle;width:48.49%;background:#203965;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total Sales of Printing and Writing Paper</b></p></td></tr><tr style="height:30pt;"><td style="color:#ffffff;vertical-align:middle;width:48.49%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">(in thousand tons, unless otherwise expressly indicated)</font></p></td><td style="color:#ffffff;vertical-align:top;width:16.93%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2022</b></p></td><td style="color:#ffffff;vertical-align:top;width:17.28%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:top;width:17.28%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2020</b></p></td></tr><tr style="height:15pt;"><td colspan="4" style="vertical-align:top;width:100%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Company Sales</b></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Domestic market sales volume</font></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">649</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">638</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">539</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Foreign market sales volume</font></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">321</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">328</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">304</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total sales volume</b></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">970</b></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">966</b></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">842</b></p></td></tr><tr style="height:14.95pt;"><td colspan="4" style="vertical-align:top;width:100%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Sales of Brazilian Manufacturers</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Domestic market sales volume</font></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1,411</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1,436</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1,167</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Foreign market sales volume</font></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">881</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">846</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">856</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total sales volume</b></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2,291</b></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2,282</b></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2,023</b></p></td></tr><tr style="height:15pt;"><td colspan="4" style="vertical-align:top;width:100%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Company&#8217;s Share in the Sales of Brazilian Manufacturers</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">% in relation to sales in the domestic market</font></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">46.0%</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">44.4%</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">46.2%</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">% in relation to sales in the foreign market</font></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">36.4%</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">38.8%</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">35.5%</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">% in relation to total sales</b></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">42.3%</b></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">42.3%</b></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">41.6%</b></p></td></tr><tr style="height:15pt;"><td colspan="4" style="vertical-align:top;width:100%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Brazilian Market</b></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Brazilian Manufacturers sales volume</font></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1,411</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1,436</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">1,167</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Imports volume</font></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">138</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">115</font></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">137</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:48.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total volume of the Brazilian market</b></p></td><td style="vertical-align:top;width:16.93%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">1,549</b></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">1,551</b></p></td><td style="vertical-align:top;width:17.28%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">1,304</b></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;">Source: Brazilian Tree Industry (Ib&#225;) and Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941760"></a><a name="_Toc67165664"></a></font><font style="font-style:italic;font-weight:bold;">Paperboard</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the fiscal years ended 2022, 2021, and 2020, respectively, the Company sold 191.6, 198.6, and 201.8 thousand tons of paperboard, of which 160.0, 163.6, and 138.9 tons were sold in the domestic market, while 31.7, 34.9 and 62.8 thousand tons were exported. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In this segment, according to the Brazilian Tree Industry (Ib&#225;), the Company&#39;s share in the Brazilian Manufacturers sales in the domestic market was 25.6%, 26.2%, and 24.0% in 2022, 2021, and 2020, respectively. Additionally, its paperboard exports represented 30.8%, 21.9%, and 29.6% of the total volume exported by Brazilian producers in 2022, 2021, and 2020, respectively. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The following table contains the Company&#39;s domestic paperboard sales and exports, as well as information about its market share, for the fiscal years ended December 31, 2022, 2021, and 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="clear:right;float:right;margin-bottom:1em;margin-left:1.66%;position:relative;right:50%;transform:translateX(50%);width:90.03%;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:100%;"><tr style="height:45pt;"><td rowspan="2" style="color:#ffffff;vertical-align:top;width:49.69%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total Paperboard Sales</b></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="display:inline-block;width:138pt;"></font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:29.95pt;"><td style="display:none;vertical-align:middle;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"></td><td style="color:#ffffff;vertical-align:top;width:19.54%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2022</b></p></td><td style="color:#ffffff;vertical-align:top;width:15.38%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:top;width:15.37%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2020</b></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:100%;"><tr style="height:45pt;"><td rowspan="1" style="color:#ffffff;vertical-align:top;width:49.69%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">(in thousand tons, unless otherwise expressly stated)</font></p></td><td style="color:#ffffff;vertical-align:top;width:19.54%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="color:#ffffff;vertical-align:top;width:15.38%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"></td><td style="color:#ffffff;vertical-align:top;width:15.37%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Domestic market sales volume</font></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">160</font></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">164</font></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">139</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Foreign market sales volume</font></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">32</font></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">35</font></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">63</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total sales volume</b></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">192</b></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">199</b></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">202</b></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Domestic market sales volume</font></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">625</font></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">625</font></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">580</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Foreign market sales volume</font></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">103</font></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">159</font></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">212</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total sales volume</b></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">728</b></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">784</b></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">792</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">% in relation to sales in the domestic market</font></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">25.6%</font></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">26.2%</font></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">24.0%</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">% in relation to sales in the foreign market</font></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">30.8%</font></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">21.9%</font></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">29.6%</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">% in relation to total sales</b></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">26.3%</b></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">25.3%</b></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">25.5%</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Brazilian Manufacturers sales volume</font></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">625</font></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">625</font></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">580</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Imports volume</font></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">96</font></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">75</font></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">60</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:top;width:49.69%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total volume of the Brazilian market</b></p></td><td style="vertical-align:top;width:19.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">721</b></p></td><td style="vertical-align:top;width:15.38%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">700</b></p></td><td style="vertical-align:top;width:15.37%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">640</b></p></td></tr></table></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt 0pt 0pt 21.3pt;">Source: Brazilian Tree Industry (Ib&#225;) and Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">b)</font><a name="_Toc98941761"></a><a name="_Toc67165665"></a><b style="font-weight:bold;">relevant variations in revenue attributable to the introduction of new products and services, changes in volumes, prices, exchange rates, and inflation</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano&#8217;s Statutory Executive Board of Officers&#8217; comments corresponding to the analysis of the main exogenous factors over which the Company has little or no control and which affect the Company&#39;s results are presented below. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941762"></a><a name="_Toc67165666"></a></font><font style="font-style:italic;font-weight:bold;">Volatility of international prices </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the fiscal years ended December 31, 2022, 2021, and 2020, the Company&#8217;s pulp sales represented, respectively, 83%, 85% and 84% of its total net operating revenue, respectively. Prices for this product are determined by the balance of supply and demand, therefore, outside the Company&#8217;s control. International price fluctuations for this product affected the Company&#39;s revenue, EBITDA, and operating margins.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Hlk65846601"></a></font>Paper prices, in turn, are determined by supply and demand conditions in the regional markets where they are traded, although with a more stable behavior than pulp prices. Suzano&#8217;s paper sales revenue intended for Brazil and other countries in South and Central America accounted for 89%, 84%, and 80% of the Company&#39;s total paper revenue, respectively, in the fiscal years ended December 31, 2022, 2021, and 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company believes that cyclical fluctuations in pulp and paper prices tend to be more attenuated compared to history, mainly due to: (i) the flow of online information, with the faster dissemination of news that affect prices; (ii) global crisis caused by the Coronavirus pandemic; and (iii) to the most efficient producers that replace those with higher marginal cost. However, </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">the Company believes that some price volatility still persists, due to several factors, including: (i) similarities between the products; (ii) fluctuations in the exchange rate between the currencies of importing and exporting countries of pulp and paper, such as the Euro, US Dollar, Renminbi, and Real; and (iii) geopolitical and economic conditions worldwide and in different regions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Finally, we have long-term sales relationships with most of our pulp and paper customers in the domestic and export markets. In general, these contracts provide for the sale of our market pulp at prices announced by us each month. These prices may vary between the different geographic areas where our customers are located. Price agreements under our long-term contracts are generally consistent with prices for our other sales within the same region and follow the established BEKP price list announced by the world&#39;s leading pulp producers.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941763"></a><a name="_Toc67165667"></a></font><font style="font-style:italic;font-weight:bold;">Exchange rate change between the Real and the US Dollar, interest rates, inflation, and economic growth</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#39;s transactions and financial condition results, as reported in its financial statements, are significantly affected by changes in the Real against the US Dollar and, to a lesser extent, by the Brazilian inflation rate, interest rate, and the growth of the Brazilian economy.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941764"></a><a name="_Toc67165668"></a></font><font style="font-style:italic;font-weight:bold;">Real volatility against the US Dollar</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The exchange rate change of the Real against the US Dollar results in several effects on the Company&#39;s consolidated financial condition and its consolidated operating income when expressed in Reais, in addition to affecting its revenues, expenses, and consolidated assets expressed in foreign currency.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Export sales revenues and, therefore, the Company&#39;s operating cash generation are directly and immediately affected by the average exchange rate change between the Real and the US Dollar. In the fiscal years ended December 31, 2022, 2021, and 2020, net revenue from exports expressed in Dollars represented, respectively, 82.9%, 83.6%, and 83.7% of the Company&#39;s net sales revenue. The Real depreciation increases such revenues when expressed in Reais, while appreciation of the Real results in lower export sales revenues. Revenues in the domestic market are indirectly influenced by the exchange rate change, as imported papers, quoted in US Dollars, gain or lose competitiveness in the domestic market depending on the exchange rate.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#39;s operating costs and expenses, such as insurance and freight expenses related to exports and costs of chemical products used as raw materials, among others, are also affected by exchange rate changes. Therefore, the depreciation of the Real results in an increase in such costs and expenses, when expressed in Reais, while the appreciation of the Real results in a decrease in them.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#39;s consolidated balance sheet accounts indexed in foreign currency, especially short- and long-term loans and financing, cash available abroad, and accounts receivable from external clients are directly and occasionally affected by the exchange rate at the end of each year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The portion of the Company&#39;s consolidated short- and long-term loans and financing expressed in foreign currency totaled BRL 61,218 million, or approximately 82% of the Company&#39;s gross debt as of December 31, 2022. This portion is almost entirely linked to the US Dollar and, therefore, exchange rate changes between the Real and the US Dollar directly affect the Company&#39;s debt and results at each year-end.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941765"></a><a name="_Toc67165669"></a></font><font style="font-style:italic;font-weight:bold;">Inflation</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#39;s financial condition and operating results are also affected by inflation. Its costs and expenses, mostly, are incurred in Reais, tending to reflect the inflation effects. There are some exceptions expressed in US Dollars, such as purchases of chemicals used as raw materials.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941766"></a><a name="_Toc67165670"></a></font><font style="font-style:italic;font-weight:bold;">Interest Rates</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Exposure to changes in interest rates is primarily due to:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">&#9679;</font>Variations in the LIBOR rate, regarding financing denominated in US Dollars; and</div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">&#9679;</font>Variations in the TJLP or CDI, regarding financing and investments denominated in Reais.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The interest rate on the Company&#8217;s financial investments denominated in Reais is based on the CDI rate. The Company&#39;s financial investments expressed US dollar are subject to changes in rates referenced to US Treasury securities.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Given the risk of LIBOR becoming extinct over the next few years, the Company has been actively negotiating its contracts with clauses that provide for the discontinuation of interest rate. Most of the debt has some clause replacing the rate with a reference index or equivalent interest rate, but for contracts that do not have a specification, a renegotiation clause was added between the parties. Derivative contracts linked to LIBOR envisage that there will be a negotiation between the parties to define a new rate or an equivalent rate will be provided by the calculation agent.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Over the next few years, until LIBOR is terminated, the Company will work actively to reflect an equivalent replacement rate in all its contracts.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company believes it is reasonable to assume that the negotiation of their contracts indexes will replace LIBOR with SOFR (Secured Overnight Financing Rate), since SOFR is the new interest rate adopted by the capital market. Based on the information available, the Company does not expect to have significant impacts on its debts and derivatives linked to LIBOR.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941767"></a><a name="_Toc67165671"></a></font><font style="font-style:italic;font-weight:bold;">Economy Growth Rate</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#39;s results tend to be directly affected by the level of international and domestic economic growth. Economic growth, expressed in terms of variation in the Gross Domestic Product (GDP), mainly influences the demand level for the Company&#39;s products and its growth in relation to previous periods. Furthermore, the heating up or reduction in market demand tends to be reflected in the price levels practiced by the sector.</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941768"></a><a name="_Toc67165672"></a></font><font style="font-style:italic;font-weight:bold;">Production Capacity and Volumes</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#8217;s results are also affected by its production capacity and volume. In 2022, we produced 11.9 million tons, of which 10.6 million tons of pulp, and 1.3 million tons of paper.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">c)</font><a name="_Toc98941769"></a><a name="_Toc67165673"></a><b style="font-weight:bold;">Relevant impacts of inflation, changes in prices of main inputs and products, exchange rates and interest rates on the issuer&#39;s operating and financial results </b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">As already presented in item &quot;2.2.b&quot;, exogenous factors related to market prices fluctuations, exchange rate variations, interest rates variations, inflation and economic growth may introduce an undesired level of volatility on the Company&#39;s cash generation and results.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Accordingly, the Company adopts a financial risk management policy to mitigate market volatilities, which seek to: (i) protect the Company&#39;s cash flow and equity against fluctuations in market prices of inputs and products, exchange and interest rates, price and correction indexes, or other assets or instruments traded in liquid or non-liquid markets , to which the values of the Company&#39;s assets, liabilities or cash generation are exposed; and (ii) optimize the contracting of financial instruments to protect exposure to risk, taking advantage of natural hedges and correlations between the prices of different assets and markets, avoiding wasting resources by contracting operations inefficiently. The financial operations contracted by the Company are intended to protect existing exposures, and the assumption of new risks other than those arising from the Company&#39;s operating activities is prohibited.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">For example, generally in the case of a depreciacion of the Real, two effects are observed: (i) the first, negative and one-off, is related to the updating of the balance sheet net exchange rate exposure (balance of asset and liability accounts expressed in foreign currency including, among others, the balances of gross debt and cash expressed in Dollars, inventories, accounts receivable and payable in foreign currency and the value of positions in currency swaps to hedge the cash flow foreign exchange exposure); and (ii) the second, positive and permanent, concerns the greater operating cash generation resulting from the increase in export revenues expressed in US Dollars.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Thus, the Company&#39;s funding and currency hedging practices are guided by the fact that approximately 80% of the Company&#39;s net revenue comes from exports priced in US Dollars, while most of the production costs are linked to Real. This structural exposure provides the Company to contract export financing in US Dollars and reconcile financing payments with the flow of sales receipts, providing a natural cash hedge for these commitments. Excess revenue in Dollars not linked to debt commitments and other obligations is sold on the foreign exchange market when the funds are transferred.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">To protect the future flow of excess revenue in Dollars, derivative operations are contracted for hedging purposes through: (i) sale of US Dollars in the futures markets (Non-Deliverable Forward), and/or (ii) positions in instruments consisting of the simultaneous combination of put options purchase and call options sale on US Dollars, with the same principal and maturity value, </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">creating a floor and a ceiling for the dollar exchange rate. These instruments are called Zero Cost Dollars. Hedge operations carried out in the futures markets must comply with the limits established in the policy, with a maximum percentage of up to 75%, and a minimum percentage of at least 40% of the foreign currency surplus in a horizon of up to 24 months and, therefore, are matched to the availability of spot exchange in the short term. Specifically, for the Cerrado project, in 2021 a new hedge policy was defined, with a limit to the total amount to be protected of up to USD 1.0 billion for a horizon of up to 36 months, and in 2022, an increase in this limit to USD 1.5 billion was approved. Within the scope of Cerrado project, the Company adopted the contracting of NDF to protect costs in Euro.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In addition to currency hedge operations, contracts are entered into for swaps from floating interest rates to fixed rates, to reduce the effects of interest rates changes on the value of the debt and swap contracts between different interest rates and adjustment indexes, to mitigate the mismatch between different financial assets and liabilities and contracts to establish part of the exposure to marine fuel (derived from petroleum), to protect logistical costs regarding the contracting of maritime freight.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Calibri Light';font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941774"></a><a name="_Toc67165681"></a></font><b style="font-weight:bold;">2.3. Comments of Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">a)</font><b style="font-weight:bold;">changes in accounting practices that resulted in significant effects on the information provided in fields 2.1 and 2.2</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">We present below the comments of our Statutory Executive Board of Officers regarding significant changes in accounting policies and their impact on the financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">During the year ended December 31, 2022, the Company adopted new accounting policies in the preparation of its financial statements regarding item a.1 listed below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">During the year ended Friday, December 31, 2021, the Company adopted new accounting policies in the preparation of its financial statements regarding item a.2 listed below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">During the year ended December 31, 2020, the Company spontaneously changed its accounting policy in the preparation of its financial statements regarding items a.3 listed below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The individual and consolidated financial statements submitted were prepared under the International Financial Reporting Standards (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">IFRS</u>&#8221;) issued by the International Accounting Standards Board (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">IASB</u>&#8221;) and under the order issued by the Accounting Pronouncements Committee (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">CPC</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The consolidated financial statements include direct and indirect subsidiaries, and transactions and joint ventures, whose financial statements coincide with the Company&#39;s base date.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">a.1)</font><a name="_Toc98941775"></a><b style="font-size:11pt;font-weight:bold;">Adoption of accounting policies for the year ended December 31, 2022</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company did not identify changes in accounting practices that resulted in significant effects on the information provided in items 2.1 and 2.2 regarding the fiscal year ended December 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">a.2)</font><b style="font-size:11pt;font-weight:bold;">Adoption of accounting policies for the fiscal year ended December 31, 2021</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company did not identify changes in accounting practices that resulted in significant effects on the information provided in items 2.1 and 2.2 regarding the fiscal year ended Friday, December 31, 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">a.3)</font><a name="_Toc98941776"></a><a name="_Toc67165682"></a><b style="font-size:11pt;font-weight:bold;">Adoption and change of accounting policies for the year ended December 31, 2020</b><b style="font-size:11pt;font-weight:bold;">.</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In 2020, the following standards/interpretations were issued and approved by the Accounting Pronouncements Committee (CPC) and the International Accounting Standards Board (IASB), effective for the year beginning on January 1, 2020. Additionally, there were changes in the accounting policy due to the harmonization of the business combination with Fibria. The new standards and policies are presented below:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">i.</font><a name="_Toc98941777"></a><b style="font-size:11pt;font-weight:bold;">Change in national currency</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Due to the merger of Fibria, the Company made several changes in its structure, activities, and transactions during 2019, which led the Management to reassess the national currency of its wholly-owned subsidiaries whose national currency was different from the Real.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">This led to the corporate reorganization and impacted the way the Management conducts the Company&#39;s businesses to achieve alignment between the 2 (&quot;two&quot;) Companies&#8217; cultures, unification of processes, transactions, systems and tax strategies, possible synergy gains, arising from the business combination. In this process, some of the Company&#39;s wholly-owned subsidiaries were considered an extension of the parent company&#39;s activities.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In conjunction, these circumstances justify the change in the national currency to the Real and occurred gradually during 2019, therefore, it was not possible to determine the date of the change at a precise point in the fiscal year. Accordingly, the Company changed the national currency of these wholly-owned subsidiaries on January 1, 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The exchange rate change resulting from the conversion of a foreign currency transaction, previously recognized in other comprehensive income, will only be transferred from net equity to the income statement at the time the transaction is written off. The total or partial write-off of interest in a subsidiary abroad occurs upon the sale or closure of all or part of the transaction.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Thus, the financial information of the subsidiaries abroad, whose national currency is different from the Real, was converted using the following criteria described below:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">i)</font>assets and liabilities converted at the exchange rate at the end of the period;</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">ii)</font>revenue and expenses are converted at the exchange rate obtained through the average of the daily rates for each month;</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">iii)</font>accumulated effects of gain or loss on the conversion of the above are recorded in other comprehensive income, in net equity.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">And, as of January 1, 2020, the financial information of subsidiaries abroad, whose national currency became the Real, are converted using the following criteria:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">i)</font>monetary assets and liabilities converted at the exchange rate at the end of the period;</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">ii)</font>non-monetary assets and liabilities converted at the historical transaction rate;</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">iii)</font>revenue and expenses are converted at the average exchange rate of daily rates (PTAX);</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">iv)</font>accumulated effects of gain or loss on the conversion of the above items are recorded in the financial result for the period.</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">b)</font><a name="_Toc98941797"></a><a name="_Toc67165706"></a><b style="font-weight:bold;">Modified opinions and emphases in the auditor&#39;s opinion</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The officers inform that the independent auditors&#39; report issued for the year ended December 31, 2022, does not contain modified opinions or emphases and they agree with the opinion expressed in this report.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The officers inform that the independent auditors&#39; report issued for the year ended Friday, December 31, 2021, does not contain modified opinions or emphases and they agree with the opinion expressed in this report.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The officers inform that the independent auditors&#39; report issued for the year ended Thursday, December 31, 2020, does not contain modified opinions or emphases and they agree with the opinion expressed in this report.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Calibri Light';font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2.4. Comments of Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Events with relevant effects occurred and expected in the Financial Statements</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">a)</font><b style="font-weight:bold;">introduction or disposal of operating segment</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the fiscal years ended December 31, 2022, 2021, and 2020, there was no introduction or sale of an operating segment by the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">b)</font><a name="_Toc98941771"></a><a name="_Toc67165675"></a><b style="font-weight:bold;">constitution, acquisition, or disposal of equity interest</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the fiscal years ended December 31, 2022, 2021, and 2020, the following relevant operations were performed involving the acquisition of equity interests:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Share purchase and sale agreement &#8211; Parkia </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On April 28, 2022, the Company disclosed through a material fact, entered into on April 27, 2022, a share purchase and sale agreement called &quot;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Share Purchase and Sale Agreement</u>&quot; between, on the one hand, as Buyer, the Company and, on the other hand, as sellers, Investimentos Florestais Fundo de Investimento em Participa&#231;&#245;es Multiestrat&#233;gia (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">FIP</u>&#8221;) and Arapar Participa&#231;&#245;es S.A. (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Arapar</u>&#8221; and, together with FIP, the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Sellers</u>&#8221;), as well as the Target Companies as consenting intervening parties (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Agreement</u>&#8221;), through which the terms and conditions were established for the acquisition by the Company, on the closing date, of all shares held by the Sellers in the following companies: (i) Vitex SP Participa&#231;&#245;es S.A. (ii) Vitex BA Participa&#231;&#245;es S.A. (iii) Vitex ES Participa&#231;&#245;es S.A. (iv) Vitex MS Participa&#231;&#245;es S.A. (v) Parkia SP Participa&#231;&#245;es S.A. (vi) Parkia BA Participa&#231;&#245;es S.A. (vii) Parkia ES Participa&#231;&#245;es S.A. and (viii) Parkia MS Participa&#231;&#245;es S.A. (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Target Companies</u>&#8221; and &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Transaction</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In consideration for the Target Companies&#8217; shares, the Company committed to pay a base price equivalent to USD 667,000 (equivalent to BRL 3,444,255 on the date of execution of the Agreement). The base price was subject to post-closing price adjustments based on changes in the Target Companies&#39; working capital.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The conclusion of the Transaction was subject to the verification of conditions precedent and approval by the Administrative Council for Economic Defense (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">CADE</u>&#8221;), by the corporate bodies of the Parties, and by the Company, through a General Meeting.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On June 22, 2022, the Company concluded the acquisition of all the Target Companies&#8217; shares and paid the first installment of USD 330,000 (equivalent to BRL 1,704,054 on the transaction date). The second installment of USD 337,000 (equivalent to BRL 1,740,201 on the transaction date), was recorded under Accounts payable for the acquisition of assets and subsidiaries and maintained in US Dollars with maturity in June 2023. The base price was adjusted and resulted in the payment of BRL 18,726, as provided in the agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Considering the assets&#8217; characteristics (mainly land, without processes that characterize a business), the Company opted to apply the concentration test to identify the concentration of the fair value under CPC15 (R1) / IFRS 3. The transaction was accounted for as a purchase of assets since the main asset (fixed assets) substantially concentrates all the fair value of the set of assets acquired. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The accounting effects of the transaction were initially reflected in the investments caption in the parent company and in the fixed assets caption in the consolidated balance sheet and acquisitions of subsidiaries, net of cash in the statement of cash flows of the parent company. The Target Companies&#8217; cash flow is BRL 4,185.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On September 30, 2022, the Company merged the Target Companies, whose book value, direct and indirect, was BRL 9,152,692. The merger did not result in a capital increase, considering that the Company held, directly or indirectly, 100% of the share capital of the target Companies.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Share purchase and sale &#8211; Caravelas </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On June 29, 2022, the Company communicated to the market that, having entered into a share purchase and sale agreement, as Buyer, and that on the closing date it will acquire all the shares issued by Caravelas Florestal S.A. (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Caravelas</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In consideration for the Caravelas shares, the Company undertook to pay the price of BRL 336,000, which would be adjusted until the closing of the Transaction and paid in a single installment after verifying conditions precedent, generally practiced by the market in this type of transaction, including the approval/final decision of the Transaction by the Administrative Council for Economic Defense (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">CADE</u>&#8221;). The base price was subject to adjustment and post-closing adjustments based on changes in Caravelas&#39; debt, cash, and other costs involved.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On August 9, 2022, the Company completed the acquisition of all Caravelas shares and, considering adjustments provided in the agreement, paid BRL 356,854. The base price was adjusted and paid at BRL 10,428, as provided in the agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company opted to apply the concentration test to identify the fair value concentration under CPC15 (R1) / IFRS 3. The transaction was accounted for as a purchase of assets since the main asset (fixed assets) substantially concentrates all the fair value of the set of assets acquired. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On September 30, 2022, the Company merged Caravelas, whose book value was BRL 111,323. The merger did not result in a capital increase, considering that the Company held 100% of the share capital of Caravelas.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Acquisition of tissue business in Brazil</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On October 24, 2022, the Company communicated to the market that it agreed to the acquisition of Kimberly-Clark&#39;s tissue business in Brazil. The base price of the transaction is USD 175 million (equivalent to BRL 922,915 on the date of execution of the agreement), subject to the usual </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">adjustments for this type of transaction, and will be paid in full on the date of conclusion of the transaction, which is subject to the fulfillment of conditions precedent and approval by the Administrative Council for Economic Defense (CADE). </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The acquisition involves a factory located in Mogi das Cruzes (SP), which contractually provides for the installed capacity of approximately 130,000 tons per year for manufacturing, marketing, distributing, and/or selling tissue products in the country, including ownership of the brand &#8220;NEVE&#8221;, bringing to Suzano complementarity of brands, product categories, and geography.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941772"></a><a name="_Toc67165679"></a></font><b style="font-weight:bold;">Fibria</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On January 14, 2019, a transaction was concluded which resulted in the Company&#8217;s ownership of all shares issued by Fibria Celulose S.A. (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fibria</u>&#8221;), which, on April 1<sup style="font-size:8.25pt;vertical-align:top;">st</sup>, 2019, was merged by the Company. With the Operation, we sought to create a solid company, with top-tier assets, strategically located, capable of supplying customers on all continents with its products efficiently.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">As estimated by Management, the integration of the Company&#8217;s and Fibria&#8217;s activities enabling Suzano to consolidate its position in the international market as the lowest cost producer in the pulp industry. In the fiscal year 2020, the curve for capturing estimated operational synergy gains as a result of the business combination with Fibria was completed, and reached regular estimated gains of BRL 1.3 billion per year (before taxes). Operational synergies were achieved by reducing costs, expenses, capital investments, and indirect taxes from the supply, forestry, industrial, logistics, commercial, administrative, and personnel areas.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">c)</font><a name="_Toc98941773"></a><a name="_Toc67165680"></a><b style="font-weight:bold;">unusual events or transactions</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In years 2022, 2021 and 2020 there were no unusual events or transactions that were not already specified.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Calibri Light';font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><b style="font-weight:bold;">2.5. Officers&#8217; comments on:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><b style="font-weight:bold;">Non-accounting measures</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company&#39;s consolidated annual financial statements were prepared under the rules of the Brazilian Securities Commission (CVM) and the Accounting Pronouncements Committee (CPC) and comply with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The Company&#39;s unaudited consolidated intermediate financial information was prepared under IAS 34 &#8211; Intermediate Statements issued by the IASB and accounting practices adopted in Brazil for intermediate financial statements (Technical Pronouncement &#8211; CPC 21 &#8211; &#8220;Intermediate Financial Information&#8221;). The data in this document were obtained from the financial information provided to CVM. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-style:italic;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">a.</font><b style="font-size:11pt;font-weight:bold;">Value of non-accounting measures </b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;margin:0pt;"><b style="font-weight:bold;">EBITDA and Adjusted EBITDA</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">A non-accounting measure under CVM and IFRS is any financial measure presented that differs from all relevant accounting standards disclosed by CVM and IFRS. We disclose Suzano&#39;s EBITDA and Adjusted EBITDA, which are considered non-accounting measures under CVM and IFRS. EBITDA is calculated as net profit (loss) plus net financial result, income tax and social contribution, and depreciation, amortization, and depletion. Suzano&#39;s adjusted EBITDA is defined as adjusted EBITDA added or excluded from (i) exceptional adjustments, which, as defined by Management, are those without impact on the Company&#39;s business, such as the Losango project, resulting from the sale of fixed and biological assets, exclusion of ICMS from PIS/COFINS tax base), expenses related to social actions to combat COVID-19 and civil contingency provision; and (ii) non-cash adjustments, understood as the adjustments that affect the income statement, but with no cash impact for the Company, such as provision (reversal) for loss of ICMS credits, effective loss of the contract advance program development, the restatement of the fair value of biological assets, income from the sale and disposal of fixed and biological assets, equity method, write-off of other comprehensive income of Suzano Trading and Impairment of non-financial assets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The non-accounting measures described in this section should not be considered alone or as a substitute for directly comparable accounting measures prepared under CVM and IFRS, such as net income or other performance measures.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Management and the Company believe that disclosure of Suzano&#8217;s EBITDA and Adjusted EBITDA provides useful information to investors, financial analysts and the general audience in reviewing and comparing our operating performance to the operating performance of the other companies in the same industry and in other industries that have different capital structures, debt levels and/or income tax rates. For example, interest expense depends on a company&#8217;s capital structure and credit rating. However, debt levels, credit ratings, and therefore the impact of interest expense on earnings varies significantly across companies. Likewise, the tax positions of individual companies can vary due to their different abilities to take advantage of tax benefits and the different jurisdictions in which they do business. Finally, the companies differ in age and method of acquisition of productive assets and, therefore, the costs related to those assets, as well </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">as the method of depreciation (straight-line, accelerated, or production units), which can result in considerable variation in depreciation and amortization expense among companies. Therefore, for comparison purposes, management believes that Suzano&#8217;s EBITDA and Adjusted EBITDA are useful measures of operating profitability to the extent that they exclude those profit elements that do not provide information about the current transactions of existing assets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Notwithstanding the foregoing, the Company notes that other companies may calculate EBITDA and Adjusted EBITDA differently, and therefore the Company&#8217;s presentation of EBITDA and Adjusted EBITDA may not compare favorably to other similarly titled measures used by other companies.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">b.</font><b style="font-size:11pt;font-weight:bold;">Conciliations between the amounts disclosed and the amounts in the EBITDA and Adjusted EBITDA financial statements</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The table below shows the breakdown of EBITDA and Adjusted EBITDA for the fiscal years ended December 31, 2022, 2021, and 2020:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;table-layout:auto;width:93.66%;" align="center"><tr style="height:0.75pt;"><td style="color:#ffffff;vertical-align:top;width:47.89%;background:#222a35;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">(BRL thousand)</b></p></td><td style="color:#ffffff;vertical-align:middle;width:16.13%;background:#222a35;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2022</b></p></td><td style="color:#ffffff;vertical-align:middle;width:17.74%;background:#222a35;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:18.22%;background:#222a35;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2020</b></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Net profit</p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">23,394,887</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">8,635,532</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(10,714,934)</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Financial result, net</p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(6,432,800)</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">9,347,234</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">26,085,523</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Income tax and social contribution</p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5,260,694</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">197,425</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(6,927,194)</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:3px double #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Depreciation, amortization and depletion</p></td><td style="vertical-align:top;width:16.13%;border-bottom:3px double #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7,407,890</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:3px double #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">7,041,663</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:3px double #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6,772,780</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:3px double #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">EBITDA</b></p></td><td style="vertical-align:top;width:16.13%;border-bottom:3px double #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">29,630,671</b></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:3px double #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">25,221,854</b></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:3px double #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">25,221,854</b></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Provision (reversal) for loss of ICMS credit <sup style="font-size:7.5pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">58,003</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(98,683)</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(79,010)</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Provision for forestry partnership advance losses <sup style="font-size:7.5pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">2,702</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Provision for Loss of PIS and COFINS <sup style="font-size:7.5pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,063</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Update of the fair value of biological assets <sup style="font-size:7.5pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(1,199,759)</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(763,091)</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(466,483)</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Income from the sale and write-off of fixed and biological assets <sup style="font-size:7.5pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(19,436)</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">38,812</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">25,484</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Equity method<sup style="font-size:7.5pt;vertical-align:top;"> (1)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(48,240)</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(130,318)</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(36,142)</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Equity Method - Write-off of other comprehensive income of Suzano Trading <sup style="font-size:7.5pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(236,128)</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">78,406</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Impairment of non-financial assets <sup style="font-size:7.5pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">58,026</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">45,435</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Transaction expenses with Fibria <sup style="font-size:7.5pt;vertical-align:top;">(2)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">992</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Expenses with obligations and contracts termination <sup style="font-size:7.5pt;vertical-align:top;">(3)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">6,703</p></td></tr><tr style="height:4.5pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Losango Project Adjustments <sup style="font-size:7.5pt;vertical-align:top;">(4)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(9,138)</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Income from the sale of fixed and biological assets <sup style="font-size:7.5pt;vertical-align:top;">(5)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(543,815)</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Exclusion of ICMS from the PIS/COFINS base <sup style="font-size:7.5pt;vertical-align:top;">(6)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">1,324</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(441,880)</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">White Martins Agreement<sup style="font-size:7.5pt;vertical-align:top;"> (7)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">376</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Provision for payment of ITBI and fees <sup style="font-size:7.5pt;vertical-align:top;">(8)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">10,529</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;table-layout:auto;width:93.66%;" align="center"><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Expenses related to social actions to combat COVID-19 <sup style="font-size:7.5pt;vertical-align:top;">(9)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">178</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">25,285</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">184,691</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Provision &#8211; Civil Contingency<sup style="font-size:7.5pt;vertical-align:top;">(10)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">32,763</p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Closing Project 5.1 Mucuri <sup style="font-size:7.5pt;vertical-align:top;">(11)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">29,679</p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Extension of the PCHM grant <sup style="font-size:7.5pt;vertical-align:top;">(12)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(7,711)</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Fines and contract terminations <sup style="font-size:7.5pt;vertical-align:top;">(13)</sup></p></td><td style="vertical-align:top;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">16,000</p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:0.75pt;"><td style="vertical-align:top;width:47.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Adjusted EBITDA</b></p></td><td style="vertical-align:middle;width:16.13%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">28,194,902</b></p></td><td style="vertical-align:middle;width:17.74%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">23,470,923</b></p></td><td style="vertical-align:middle;width:18.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">24,955,171</b></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">1. Non-box adjustments.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">2. Expenses incurred in connection with the business combination.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">3. Expenses with disassembly Facepa machines.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">4. Provisions related to the Losango project, mainly write-off of advances from the forestry development program and write-off of the wood inventory in the field.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">5. Result of the sale of biological and fixed assets related to the main contracts with Bracell and Turvinho (see note 1.2.2 of our financial statements) and Klabin.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">6. In the year ended December 31, 2021, the total amount of PIS and COFINS tax credits to be recovered recognized by the Company, following the order issued by the Federal Supreme Court (&quot;STF&quot;) regarding the exclusion of ICMS from the tax base of PIS and COFINS, is BRL 441,880 (Note 20.3.1 of the F-Pages), in the year ended 31.2022, this provision was adjusted, decreasing it by BRL 1,324. The current amount of the provision is BRL 440,556.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">7. Fine for termination resulting from supply incidents.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">8. Provisions for payment of ITBI and fees related to land acquisition before 2015.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">9. Impacts on operations and expenses related to COVID-19 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">10. Refers to new provisions for exceptional civil actions.<font style="display:inline-block;width:20.95pt;"></font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">11. Refers to a 2016 project at the Mucuri unit that was interrupted.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt 0pt 6pt 0pt;">12. Refers to the extension of the grant of Mucuri S.A.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt;">13. Refers to the fine for contract termination due to the permanence of the barge.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">c.</font><b style="font-size:11pt;font-weight:bold;">Reason why it is understood that such measurement is more appropriate for the correct understanding of the financial condition and the outcome of the Company&#8217;s transactions</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">EBITDA and Adjusted EBITDA</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company considers EBITDA and Adjusted EBITDA, with all the limitations previously mentioned, and together with the other available accounting and financial information, to be a reasonable indicator of comparison among its main Market competitors. The EBITDA margin, which results from dividing Adjusted EBITDA by the Company&#8217;s net revenue, also meets the above definitions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Management and the Company believe that disclosure of Suzano&#8217;s EBITDA and Adjusted EBITDA provides useful information to investors, financial analysts and the general audience in reviewing and comparing our operating performance to the operating performance of the other companies in the same industry and in other industries that have different capital structures, debt levels and/or income tax rates. For example, interest expense depends on a company&#8217;s capital structure and credit rating. However, debt levels, credit ratings, and therefore the impact of interest expense on earnings varies significantly across companies. Likewise, the tax positions of individual companies can vary due to their different abilities to take advantage of tax benefits and the different jurisdictions in which they do business. Finally, the companies differ in age and method of acquisition of productive assets and, therefore, the costs related to those assets, as well as the method of depreciation (straight-line, accelerated, or production units), which can result in considerable variation in depreciation and amortization expense among companies. Therefore, for comparison purposes, management believes that Suzano&#8217;s EBITDA and Adjusted EBITDA are useful measures of operating profitability to the extent that they exclude those profit elements that do not provide information about the current transactions of existing assets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Notwithstanding the foregoing, the Company notes that other companies may calculate EBITDA and Adjusted EBITDA differently, and therefore the Company&#8217;s presentation of EBITDA and Adjusted EBITDA may not compare favorably to other similarly titled measures used by other companies.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Calibri Light';font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2.6. Comments of Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Events subsequent to the latest financial statements</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#8217;s consolidated financial statements for the fiscal year ended on December 31, 2022 were authorized by the Company&#8217;s Board of Directors and issued on February 28, 2023.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;background:#c0c0c0;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The following events subsequent to the financial statements for the 2022 fiscal year were verified, in accordance with the rules set forth in Technical Pronouncement CPC 24, approved by CVM Resolution No. 105/2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:10pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">STF Decision &#8211; res judicata on tax matters</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On February 08, 2023, the Brazilian Federal Supreme Court concluded the judgment related to Topics 881 and 885, which discuss the <i style="font-style:italic;">res judicata</i> effects. Although until the date of preparation of these financial statements the content of the decisions has not been published and is available, the Company is not a party to any process in which a tax is not being collected due to a final and unappealable decision, therefore the Company will not have any material adjustment of provision due to the decisions issued on February 08, 2023.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">Cancellation of treasury shares</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On February 28, 2023, the Company resolved to cancel 37,145,969 common shares, which were being held in treasury, without changing the share capital and against the available profit reserve balances. After the cancellation of shares, the share capital of BRL 9,269,281 is now divided into 1,324,117,615 common shares, all registered, book-entry and with no par value.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2.7. Comments of Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Income allocation policy</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.77%;"><tr style="height:23.25pt;"><td style="vertical-align:top;width:22.22%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"></td><td style="vertical-align:top;width:25.92%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal Year Ended on 12.31.2022</b></p></td><td style="vertical-align:top;width:25.92%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal Year Ended on 12.31.2021</b></p></td><td style="vertical-align:top;width:25.92%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal Year Ended on 12.31.2020</b></p></td></tr><tr style="height:34.55pt;"><td style="vertical-align:top;width:22.22%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Rules on retained earnings</b></p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">In accordance with the Company&#8217;s Bylaws, the net profit will have the following allocation:</p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">In accordance with the Company&#8217;s Bylaws, the net profit will have the following allocation:</p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">In accordance with the Company&#8217;s Bylaws, the net profit will have the following allocation:</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.77%;"><tr style="height:505.5pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(i) a minimum of 5% shall be allocated to the Legal Reserve Fund, up to the limit of 20% of the share capital, and in the year in which the balance of the legal reserve plus the amounts of capital reserve exceeds 30% of the share capital, it will not be mandatory to allocate part of the net profit of the Fiscal Year to the legal reserve; </p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(ii) the amounts allocated to the Contingency Reserve, if established; </p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(iii) the quota required for payment of the mandatory dividend, for each Fiscal Year, equivalent to the smaller amount between: 25% of the annual net profit adjusted in accordance with article 202 of the Brazilian Corporation Law or 10% of the Company&#8217;s consolidated Operating Cash Generation;</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(iv) the balance, if any, will be used as resolved by the General Meeting, pursuant to article 196 of the Brazilian Corporation Law, by proposal of the Statutory Executive Board, with a favorable opinion of the Board of Directors, with the option of allocating up to 90% to the Reserve for Capital Increase, in order to ensure adequate operating conditions. This reserve cannot exceed 80% of the &#160; &#160; &#160;share capital. The remainder will be allocated to the Special Statutory Reserve, with the purpose of guaranteeing the continuity of the half-yearly distribution of dividends, until reaching the limit of 20% of the share capital.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(i) a minimum of 5% shall be allocated to the Legal Reserve Fund, up to the limit of 20% of the share capital, and in the year in which the balance of the legal reserve plus the amounts of capital reserve exceeds 30% of the share capital, it will not be mandatory to allocate part of the net profit of the Fiscal Year to the legal reserve; </p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(ii) the amounts allocated to the Contingency Reserve, if established; </p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(iii) the quota required for payment of the mandatory dividend, for each Fiscal Year, equivalent to the smaller amount between: 25% of the annual net profit adjusted in accordance with article 202 of the Brazilian Corporation Law or 10% of the Company&#8217;s consolidated Operating Cash Generation;</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(iv) the balance, if any, will be used as resolved by the General Meeting, pursuant to article 196 of the Brazilian Corporation Law, by proposal of the Statutory Executive Board, with a favorable opinion of the Board of Directors, with the option of allocating up to 90% to the Reserve for Capital Increase, in order to ensure adequate operating conditions. This reserve cannot exceed 80% of the &#160; &#160; &#160;share capital. The remainder will be allocated to the Special Statutory Reserve, with the purpose of guaranteeing the continuity of the half-yearly distribution of dividends, until reaching the limit of 20% of the share capital.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(i) a minimum of 5% shall be allocated to the Legal Reserve Fund, up to the limit of 20% of the share capital, and in the year in which the balance of the legal reserve plus the amounts of capital reserve exceeds 30% of the share capital, it will not be mandatory to allocate part of the net profit of the Fiscal Year to the legal reserve; </p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(ii) the amounts allocated to the Contingency Reserve, if established; </p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(iii) the quota required for payment of the mandatory dividend, for each Fiscal Year, equivalent to the smaller amount between: 25% of the annual net profit adjusted in accordance with article 202 of the Brazilian Corporation Law or 10% of the Company&#8217;s consolidated Operating Cash Generation;</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">(iv) the balance, if any, will be used as resolved by the General Meeting, pursuant to article 196 of the Brazilian Corporation Law, by proposal of the Statutory Executive Board, with a favorable opinion of the Board of Directors, with the option of allocating up to 90% to the Reserve for Capital Increase, in order to ensure adequate operating conditions. This reserve cannot exceed 80% of the &#160; &#160; &#160;share capital. The remainder will be allocated to the Special Statutory Reserve, with the purpose of guaranteeing the continuity of the half-yearly distribution of dividends, until reaching the limit of 20% of the share capital.</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.77%;"><tr style="height:497.25pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a.i. Amounts of Retained Earnings</b></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The net profit for the period was BRL 23,381,616,833.74, which 5% were allocated to the creation of the legal reserve until the limit of 20% of the share capital.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">v.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 1,169,080,841 for the creation of the Legal Reserve, in accordance with art. 193, &#167;&#167; 1 and 2, of the Brazilian Corporation Law;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">vi.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 66,870,534.35 for the creation of the Tax Incentives Reserve, in accordance with art. 195-A of the Brazilian Corporation Law;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">vii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 2,256,366,997 for the payment of minimum mandatory dividends and BRL 93.633.002 of final dividends;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">viii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 133,007,893, related to the realization, by means of depreciation and/or write-off of items of fixed assets, of the deemed cost to certain assets on the initial adoption of the International Financial Reporting Standards - IFRS, to be absorbed by the Equity Valuation Adjustment account;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> &#160;<font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">ix.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 2,965,561,166 for the creation of the Reserve for Capital Increase, in accordance with art. 26, letter (d), of the Company&#8217;s Bylaws; and</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;padding-left:15.05pt;text-align:justify;text-indent:-15.05pt;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">x.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 1,993,098,282 for the creation of the Special Statutory Reserve, in accordance with art. 26, letter (d), of the Company&#8217;s Bylaws.</font></div></div></div></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The net profit for the period was BRL 8,626,386,669 , which was partially absorbed by BRL 3,926,014,830 related to accumulated losses from the previous period. The remaining income was BRL 4,700,371,839, which 5% were allocated to the creation of the legal reserve until the limit of 20% of the share capital.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">i.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 235,018,591 for the creation of the Legal Reserve, in accordance with art. 193, &#167;&#167; 1 and 2, of the Brazilian Corporation Law;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">ii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 812,908,608 for the creation of the Tax Incentives Reserve, in accordance with art. 195-A of the Brazilian Corporation Law;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">iii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 913,111,159 for the payment of minimum mandatory dividends;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">iv.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 140,515,406, related to the realization, by means of depreciation and/or write-off of items of fixed assets, of the deemed cost to certain assets on the initial adoption of the International Financial Reporting Standards - IFRS, to be absorbed by the Equity Valuation Adjustment account;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">v.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 86,888,840 for the creation of Reserve allocated to the distribution of dividends;</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">vi.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;"> </font><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 2,513,664,040 for the creation of the Reserve for Capital Increase, in accordance with art. 26, letter (d), of the </font></div></div></div></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">No earnings were retained due to the determination of a loss for the fiscal year ended on December 31, 2020. Considering that a net loss was determined, part of the amount was absorbed by the Profit Reserve and the balance was allocated to the accumulated losses account, pursuant to the sole paragraph of article 189 of the Brazilian Corporation Law, and no dividends were distributed for the year in question.</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.77%;"><tr style="height:497.25pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">xi.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 14,972,323,377 for the creation of the capital budget, in accordance with art. 196 of the Law 6,404/76.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> &#160;<font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"></div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Company&#8217;s Bylaws; and</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;padding-left:15.05pt;text-align:justify;text-indent:-15.05pt;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">vii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">BRL 279,296,004 for the creation of the Special Statutory Reserve, in accordance with art. 26, letter (d), of the Company&#8217;s Bylaws.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> &#160;<font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.77%;"><tr style="height:175.95pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a.ii. Percentages with respect to the total reported profits</b></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The net profit for the period was BRL 23,394,888,686, which 5% were allocated to the creation of the legal reserve until the limit of 20% of the share capital.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">i.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">The Legal reserve: 5%</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">ii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Tax incentives reserve: 0.29% based on the Net profit.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">iii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Minimum mandatory and final dividends: 10.05% based on the Net profit.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">iv.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Reversal of expired dividends: (0.01%) based on the Net profit. </font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">v.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Realization of equity valuation adjustment: (0.57%) based on the Net profit. </font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">vi.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Reserve for capital increase: 12.68% based on the Net profit.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">vii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Special statutory reserve: 8.52% based on the Net profit.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">v.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Creation of Investment Reserve through the capital budget Proposal: 64.03% based on the Net profit.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The net profit for the period was BRL8,626,386,669  </p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">, which was partially absorbed by BRL 3,926,014,830 related to accumulated losses from the previous period. The remaining income was BRL 4,700,371,839, which 5% were allocated to the creation of the legal reserve until the limit of 20% of the share capital.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">i.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">The Legal reserve: 5.0%</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">ii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Tax incentives reserve: 17.3% based on the Net profit after absorption of accumulated losses.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;padding-left:15.05pt;text-align:justify;text-indent:-15.05pt;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">iii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Minimum mandatory dividends: 19.4% based on the Net profit after absorption of accumulated losses.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;padding-left:15.05pt;text-align:justify;text-indent:-15.05pt;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">iv.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Reserve allocated to the distribution of dividends: 1.8% based on the Net profit after absorption of accumulated losses.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">v.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Realization of equity valuation adjustment: (3.0%) based on the Net profit after absorption of accumulated losses.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">vi.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Reserve for capital increase: 53.5% based on the Net profit after absorption of accumulated losses.</font></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><div style="display:table-row;"><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">vii.</div><div style="display:table-cell;text-align:right;width:18pt;padding:0pt;"></div><div style="display:table-cell;padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:8pt;font-style:normal;font-weight:normal;">Special statutory reserve: 5.9% based on the Net profit after absorption of accumulated losses.</font></div></div></div></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Not applicable, once the Company did not retain earnings in this fiscal year.</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.77%;"><tr style="height:125.25pt;"><td style="vertical-align:top;width:22.22%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">b. Rules on distribution of dividends</b></p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">As mentioned on previous item, 25% of the net profit must be distributed to the shareholders as minimum mandatory dividends, pursuant to article 202 of the Brazilian Corporation Law; or 10% of the Company&#8217;s consolidated Operating Cash Generation in the respective Fiscal Year.</p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">As mentioned on previous item, 25% of the net profit must be distributed to the shareholders as minimum mandatory dividends, pursuant to article 202 of the Brazilian Corporation Law; or 10% of the Company&#8217;s consolidated Operating Cash Generation in the respective Fiscal Year.</p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">As mentioned on previous item, 25% of the net profit must be distributed to the shareholders as minimum mandatory dividends, pursuant to article 202 of the Brazilian Corporation Law; or 10% of the Company&#8217;s consolidated Operating Cash Generation in the respective Fiscal Year.</p></td></tr><tr style="height:124.5pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The Bylaws provide, in accordance with article 197 of the Brazilian Corporation Law, that in the fiscal year in which the amount of the mandatory dividend exceeds the realized portion of the net income for the year, the General Meeting may, by proposal of the management bodies, allocate the excess to the creation of the Unrealized Profit Reserve.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The Bylaws provide, in accordance with article 197 of the Brazilian Corporation Law, that in the fiscal year in which the amount of the mandatory dividend exceeds the realized portion of the net income for the year, the General Meeting may, by proposal of the management bodies, allocate the excess to the creation of the Unrealized Profit Reserve.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The Bylaws provide, in accordance with article 197 of the Brazilian Corporation Law, that in the fiscal year in which the amount of the mandatory dividend exceeds the realized portion of the net income for the year, the General Meeting may, by proposal of the management bodies, allocate the excess to the creation of the Unrealized Profit Reserve.</p></td></tr><tr style="height:63pt;"><td rowspan="3" style="vertical-align:top;width:22.22%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Furthermore, in accordance with article 199 of the Brazilian Corporation Law, the balance of profit reserves, except those for contingencies and unrealized profits, cannot exceed the share capital; once this limit is reached, the General Meeting will decide on the application of the surplus in the payment of the Company&#8217;s shares, in the share capital increase, or in the distribution of dividends.</p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Furthermore, in accordance with article 199 of the Brazilian Corporation Law, the balance of profit reserves, except those for contingencies and unrealized profits, cannot exceed the share capital; once this limit is reached, the General Meeting will decide on the application of the surplus in the payment of the Company&#8217;s shares, in the share capital increase, or in the distribution of dividends.</p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Furthermore, in accordance with article 199 of the Brazilian Corporation Law, the balance of profit reserves, except those for contingencies and unrealized profits, cannot exceed the share capital; once this limit is reached, the General Meeting will decide on the application of the surplus in the payment of the Company&#8217;s shares, in the share capital increase, or in the distribution of dividends.</p></td></tr><tr style="height:117.25pt;"><td style="display:none;vertical-align:middle;width:22.22%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"></td><td style="vertical-align:top;width:25.92%;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">For the purposes of calculation of the amount to be paid as minimum mandatory dividend, the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Operating</u> <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Cash Generation</u>&#8221; means the result of the following formula: GCO = Adjusted EBITDA &#8211; Maintenance CAPEX.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Where: &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">GCO</u>&#8221; means the consolidated Operating Cash Generation for the Fiscal Year, expressed in national currency.</p></td><td style="vertical-align:top;width:25.92%;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">For the purposes of calculation of the amount to be paid as minimum mandatory dividend, the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Operating</u> <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Cash Generation</u>&#8221; means the result of the following formula: GCO = Adjusted EBITDA &#8211; Maintenance CAPEX.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Where: &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">GCO</u>&#8221; means the consolidated Operating Cash Generation for the Fiscal Year, expressed in national currency.</p></td><td style="vertical-align:top;width:25.92%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">For the purposes of calculation of the amount to be paid as minimum mandatory dividend, the &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Operating</u> <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Cash Generation</u>&#8221; means the result of the following formula: GCO = Adjusted EBITDA &#8211; Maintenance CAPEX.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Where: &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">GCO</u>&#8221; means the consolidated Operating Cash Generation for the Fiscal Year, expressed in national currency.</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.77%;"><tr style="height:226.5pt;"><td rowspan="1" style="vertical-align:top;width:22.22%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;EBITDA&#8221;</u> means the net profit for the Company&#8217;s Fiscal Year expressed in national currency, before income tax and social contribution on profit, financial revenue and expenses, depreciation, amortization and depletion.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> &#160;<font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;Adjusted EBITDA&#8221;</u> means EBITDA excluding non-recurring items and/or non-cash items and gains (losses) from change in fair value of biological assets.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;EBITDA&#8221;</u> means the net profit for the Company&#8217;s Fiscal Year expressed in national currency, before income tax and social contribution on profit, financial revenue and expenses, depreciation, amortization and depletion.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> &#160;<font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;Adjusted EBITDA&#8221;</u> means EBITDA excluding non-recurring items and/or non-cash items and gains (losses) from change in fair value of biological assets.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;EBITDA&#8221;</u> means the net profit for the Company&#8217;s Fiscal Year expressed in national currency, before income tax and social contribution on profit, financial revenue and expenses, depreciation, amortization and depletion.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> &#160;<font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;Adjusted EBITDA&#8221;</u> means EBITDA excluding non-recurring items and/or non-cash items and gains (losses) from change in fair value of biological assets.</p></td></tr><tr style="height:317.35pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:8pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;Maintenance CAPEX&#8221;</u> means the amount, expressed in national currency, of the investments in maintenance realized in the Fiscal Year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;"> </b><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">By resolution of the General Meeting, the Company may distribute dividends in excess of the mandatory dividends set forth in its Bylaws.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">In addition, the Company&#8217;s Bylaws allow the Shareholders&#8217; Meeting to grant the members of the Board of Directors and the Statutory Executive Board a share in the profits in the cases, manner and limits established by law. By proposal of the Statutory Executive Board, approved by the Board of Directors, the company may pay interest to the shareholders, as compensation on the equity of the latter, up to the limit established by article 9 of Law 9,249/1995; and in accordance with paragraph 7 of this same article. If paid in this way, the amounts disbursed may be imputed to the amount of the minimum mandatory dividend.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;Maintenance CAPEX&#8221;</u> means the amount, expressed in national currency, of the investments in maintenance realized in the Fiscal Year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;"> </b><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">By resolution of the General Meeting, the Company may distribute dividends in excess of the mandatory dividends set forth in its Bylaws.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">In addition, the Company&#8217;s Bylaws allow the Shareholders&#8217; Meeting to grant the members of the Board of Directors and the Statutory Executive Board a share in the profits in the cases, manner and limits established by law. By proposal of the Statutory Executive Board, approved by the Board of Directors, the company may pay interest to the shareholders, as compensation on the equity of the latter, up to the limit established by article 9 of Law 9,249/1995; and in accordance with paragraph 7 of this same article. If paid in this way, the amounts disbursed may be imputed to the amount of the minimum mandatory dividend.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">&#8220;Maintenance CAPEX&#8221;</u> means the amount, expressed in national currency, of the investments in maintenance realized in the Fiscal Year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;"> </b><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">By resolution of the General Meeting, the Company may distribute dividends in excess of the mandatory dividends set forth in its Bylaws.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">In addition, the Company&#8217;s Bylaws allow the Shareholders&#8217; Meeting to grant the members of the Board of Directors and the Statutory Executive Board a share in the profits in the cases, manner and limits established by law. By proposal of the Statutory Executive Board, approved by the Board of Directors, the company may pay interest to the shareholders, as compensation on the equity of the latter, up to the limit established by article 9 of Law 9,249/1995; and in accordance with paragraph 7 of this same article. If paid in this way, the amounts disbursed may be imputed to the amount of the minimum mandatory dividend.</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.77%;"><tr style="height:126.35pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">c. Period of distributions of dividends</b></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The distribution of dividends to shareholders occurs annually, whenever there are profits or profit reserves. Also, pursuant to the Company&#8217;s Bylaws, a half-yearly balance sheet will be raised on the last of June of each year and the Board of Officers may: (i) declare a half-yearly dividend, because of the annual dividend; (ii) Raise extraordinary balance sheets and distribute dividends in shorter periods, because of the annual dividend, provided that the total dividend paid in each half of the fiscal year does not exceed the amount of capital reserves; (iii) declare an Intermediate dividend to the account of retained earnings or profit reserves existing in the last annual or half-yearly balance sheet, because of the annual dividend.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The distribution of dividends to shareholders occurs annually, whenever there are profits or profit reserves. Also, pursuant to the Company&#8217;s Bylaws, a half-yearly balance sheet will be raised on the last of June of each year and the Board of Officers may: (i) declare a half-yearly dividend, because of the annual dividend; (ii) Raise extraordinary balance sheets and distribute dividends in shorter periods, because of the annual dividend, provided that the total dividend paid in each half of the fiscal year does not exceed the amount of capital reserves; (iii) declare an Intermediate dividend to the account of retained earnings or profit reserves existing in the last annual or half-yearly balance sheet, because of the annual dividend.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">The distribution of dividends to shareholders occurs annually, whenever there are profits or profit reserves. Also, pursuant to the Company&#8217;s Bylaws, a half-yearly balance sheet will be raised on the last of June of each year and the Board of Officers may: (i) declare a half-yearly dividend, because of the annual dividend; (ii) Raise extraordinary balance sheets and distribute dividends in shorter periods, because of the annual dividend, provided that the total dividend paid in each half of the fiscal year does not exceed the amount of capital reserves; (iii) declare an Intermediate dividend to the account of retained earnings or profit reserves existing in the last annual or half-yearly balance sheet, because of the annual dividend.</p></td></tr><tr style="height:104.75pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">d. Any restrictions to distribution of dividends imposed by the law or special regulation applicable to the issuer, as well as contracts, judicial, administrative or arbitration orders</b></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Not applicable.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Not applicable.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Not applicable.</p></td></tr><tr style="height:126pt;"><td style="vertical-align:top;width:22.22%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">e. If the issuer has a formally approved income allocation policy, inform the body in charge for the approval, approval date and, if the issuer discloses the policy, the locations on the World Wide</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Web where the document can be viewed</b></p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Not applicable, since the Company does not have a formally approved income allocation policy.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Not applicable, since the Company does not have a formally approved income allocation policy.</p></td><td style="vertical-align:top;width:25.92%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Not applicable, since the Company does not have a formally approved income allocation policy.</p></td></tr></table></div><p style="font-family:'Calibri Light';font-size:16pt;font-weight:bold;line-height:1.19;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;line-height:1.37;margin-bottom:3pt;margin-top:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2.8. Comments of Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Relevant items not evidenced on financial statements</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">a)</font><b style="font-weight:bold;">the assets and liabilities held by the Company, directly or indirectly, that are off-balance sheet items</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The officers report that the Company does not have any material assets or liabilities that are not reflected in the Company&#8217;s consolidated financial statements for the years ended on December 31, 2022, 2021 and 2020. All of its interests and relationships with subsidiaries are disclosed in the Consolidated Financial Statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:36pt;white-space:nowrap;">(i)</font><a name="_Toc98941876"></a><a name="_Toc67165736"></a><b style="font-size:11pt;font-weight:bold;">receivables portfolios written off over which the entity has neither retained nor substantially transferred the risks and rewards of ownership of the transferred asset, indicating the respective liabilities</b><b style="font-size:11pt;font-weight:bold;"> </b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#8217;s Officers clarify that there are no written-off receivables portfolios over which the entity has neither retained nor substantially transferred the risks and rewards of ownership of the transferred asset not shown in the Company&#8217;s balance sheets for the years ended on December 31, 2022, 2021 and 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:36pt;white-space:nowrap;">(ii)</font><a name="_Toc98941877"></a><a name="_Toc67165737"></a><b style="font-size:11pt;font-weight:bold;">future sales agreement of products or services</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the ordinary course of its business, the Company enters into long-term take or pay contracts with suppliers of chemicals, electric power, transportation and natural gas. The contracts provide for termination and suspension of supply clauses due to non-compliance with essential obligations. In general, the Company purchases the minimum contractually agreed upon and for this reason there are no liabilities recorded in addition to the amount that is recognized monthly. In the year ended on December 31, 2022, these long-term commitments are in the total amount of BRL 14,875.22 per year (BRL 13,488,327 per year at December 31, 2021 and BRL 12,429,229 per year at December 31, 2020). </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:36pt;white-space:nowrap;">(iii)</font><a name="_Toc98941878"></a><a name="_Toc67165738"></a><b style="font-size:11pt;font-weight:bold;">unfinished construction agreements</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#8217;s Officers clarify that there are no unfinished construction agreements applicable to the Company under CPC 17 (R1) &#8211; Construction Agreements for the years ended on December 31, 2022, 2021 and 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:36pt;white-space:nowrap;">(iv)</font><a name="_Toc98941879"></a><a name="_Toc67165739"></a><b style="font-size:11pt;font-weight:bold;">future financing receivables contracts</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company&#8217;s Officers clarify that there are no future financing receivables contracts in the Company&#8217;s balance sheets for the years ended on December 31, 2022, 2021 and 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">b)</font><a name="_Toc98941880"></a><a name="_Toc67165740"></a><b style="font-weight:bold;">other items not evidenced on financial statements</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable, because the Company&#8217;s officers said that there are no relevant items not evidenced on financial statements of the Company for the years ended on December 31, 2022, 2021 and 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2.9. Comments of Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Comments on items not evidenced on financial statements: </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:21.3pt;white-space:nowrap;">a)</font><b style="font-size:11pt;font-weight:bold;">how such items change or may change revenues, expenses, the operating result, financial expenses or other items of the Company&#8217;s financial statements; b) nature and purpose of the transaction; c) nature and amount of the obligations assumed and rights generated in favor of the issuer as a result of the transaction.</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">(i)</font><b style="font-weight:bold;">Operating lease-purchase agreements</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company&#8217;s Officers clarify that there are no operating lease-purchase agreements, assets or liabilities that are Company&#8217;s off-balance sheet items for the years ended on December 31, 2022, 2021 and 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Times New Roman Negrito';font-size:11pt;font-weight:bold;min-width:28.35pt;white-space:nowrap;">(ii)</font><b style="font-weight:bold;">Take or Pay Contracts</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the ordinary course of its business, the Company enters into long-term take or pay contracts with suppliers of chemicals, electric power, transportation and natural gas, as described in the note 24 of the financial statements for the year ended on December 31, 2022. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The contracts provide for termination and suspension of supply clauses due to non-compliance with essential obligations. In general, the Company purchases the minimum contractually agreed upon and for this reason there are no liabilities in addition to the amount that is recognized monthly. In the year ended on December 31, 2022, these long-term commitments are in the total amount of BRL 14,875.22 per year (BRL 13,488,327 per year at December 31, 2021 and BRL 12,429,229 per year at December 31, 2020). </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2.10. Comments of Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Business plan</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:36pt;white-space:nowrap;">a)</font><a name="_Toc98941883"></a><a name="_Toc67165743"></a><b style="font-size:11pt;font-weight:bold;">Investments, including: (i) quantitative and qualitative description of investments in progress and planned investments, (ii) sources of investment financing; and (iii) relevant divestments in progress and planned divestments.</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Statutory Executive Board of Officers reaffirms its long-term profitability strategy and remains committed to the execution focused on performance combined with innovation, sustainability and operational excellence in order to consolidate its position as one of the most profitable and competent forest-based business organizations in the industry and sustainability in its operations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano seeks a continuous evolution, through a set of measures and innovations that lead the Company to present consistent economic and financial results. Cash generation in recent years has enabled significant advances in the execution of the Company&#8217;s strategy to create value in a sustainable manner.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The Company has made important advances in the adjacent business strategy, which seeks new uses for our asset base, diversifying products with more profitable and scalable businesses.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;min-width:28.35pt;white-space:nowrap;">i)</font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">CAPEX 2022</u><i style="font-style:italic;">: </i>As shown in the table below, the Company provides for 2023 fiscal year a CAPEX of BRL 18.5 billion, of which BRL 6.4 billion refer to maintenance, BRL 8.9 billion refer to the development of the Cerrado Project and the balance, in the total amount of BRL 3.2 billion, comprises investments in land and forests, expansion, modernization and others in order to benefit the efficiency of the transaction.</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-2.034336%;table-layout:auto;width:104.06%;" align="center"><tr style="height:31pt;"><td style="color:#ffffff;vertical-align:middle;width:24.99%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">CAPEX</b></p><p style="color:#ffffff;font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">(BRL billions)</b></p></td><td style="color:#ffffff;vertical-align:middle;width:24.99%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:middle;width:25%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2022</b><sup style="font-family:'Times New Roman','Times','serif';font-size:6.75pt;font-weight:bold;vertical-align:top;">1</sup></p></td><td style="color:#ffffff;vertical-align:middle;width:25%;background:#001f5f;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="color:#ffffff;font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">2023</b></p></td></tr><tr style="height:28.25pt;"><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Maintenance</font></p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">4.7</font></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">5.0</font></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">6.4</font></p></td></tr><tr style="height:28.35pt;"><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Expansion, Modernization, Port Terminals and Others</font></p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">0.5</font></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">0.6</font></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">0.8</font></p></td></tr><tr style="height:28.25pt;"><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Lands and Forests</font></p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">0.4</font></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">0.7</font></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">2.4</font></p></td></tr><tr style="height:28.35pt;"><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Cerrado Project</font></p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">0.7</font></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">7.3</font></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">8.9</font></p></td></tr><tr style="height:28.35pt;"><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Total</b></p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">6.3</b></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">13.6</b></p></td><td style="vertical-align:middle;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:9pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">18.5</b></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;margin:0pt;"><sup style="font-size:6.75pt;vertical-align:top;">1</sup> As published in the 4Q22 earnings release.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-family:'Arial','Helvetica','sans-serif';font-size:11pt;min-width:28.35pt;white-space:nowrap;">ii)</font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Divestment</u>: Pursuant to the Notice to the Market published on December 12, 2019, on the same date, the Company entered into the Agreement for Sale of Standing Forests and Other Covenants with </div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;">Klabin S.A. (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Klabin</u>&#8221;), through which the Company sold and Klabin purchased standing eucalyptus forests, located in the southern area of the State of S&#227;o Paulo, representing approximately 14 thousand hectares of planted forests (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Forests Sales Transaction</u>&#8221;), which currently constitute nonoperational assets of the Company, for an aggregate amount of approximately four hundred million reais (BRL 400 million reais). Payment will be made proportionately to the volume of forest harvested and will occur from 2020 to 2026. As per the Notice to the Market published by the Company on November 20, 2020, on January 05, 2021 the Company completed the transaction of disposal of twenty-one thousand and sixty-six (21,066) hectares of rural property located in the central region of the state of S&#227;o Paulo (by sale of land, by assignment of lease agreement and acquisition of additional wood volume) to Bracell SP Celulose Ltda. and Turvinho Participa&#231;&#245;es Ltda, receiving the purchase price of one billion, fifty-six million, seven hundred fifty-four thousand and nine hundred and fifty reais (BRL 1,056,754,950.00). The transactions above are aligned with the Company&#8217;s deleveraging plan announced to the market, and confirms the financial discipline adopted by Suzano in the execution of its Financial Debt Policy</div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On the main investments already made, for more information, see Section 2.4. The assumptions taken into consideration by the Company are subject to risks and uncertainties that may prevent such expectations from being met or being substantially different from what was expected. For more information on the Company&#8217;s risks, see items 4 and 5 of the Reference Form.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:36pt;white-space:nowrap;">b)</font><a name="_Toc98941884"></a><a name="_Toc67165744"></a><b style="font-size:11pt;font-weight:bold;">Acquisitions already disclosed of plants, equipment, patents or other assets that may materially influence the Company&#8217;s productive capacity</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On 2022, the Company announced two acquisitions: (a) Parkia, completed on June 22, 2022, according to the Material Fact disclosed on the respective date. The transaction had a total amount of US$ 667 million, paid in 2 installments: (i) the first paid on the completion date, with the amount of BRL 1.7 billion (on a cash basis, as per Cash Flow Statement announced in the 2nd quarter of 2022), (ii) the second is to be paid in 12 months from this completion date; and (b) Caravelas Florestal, in the total amount of BRL 360 million, completed on August 9, 2022, in accordance with the Notice to the Market published on the respective date.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The transactions are aligned with Suzano&#8217;s strategy of being &#8220;best-in-class&#8221; in the total cost of pulp, through the reduction of expenditure in the purchase of wood, as well as guaranteeing a forest base in strategic areas for its transactions in the long term.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:36pt;white-space:nowrap;">c)</font><a name="_Toc98941885"></a><a name="_Toc67165745"></a><b style="font-size:11pt;font-weight:bold;">New products and services, indicating (i) description of ongoing research already disclosed; (ii) total amounts spent by the Company on research to develop new products or services; (iii) projects under development already disclosed; and (iv) total amounts spent by the Company on the development of new products or services</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">The extent of new businesses that innovate and break paradigms contributes to the Company&#39;s growth with investments in projects of high profitability and scalability, and helps to build avenues of diversification, creating sustainable value.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><i style="font-style:italic;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Tissue</i>: </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">As per the Material Fact disclosed on December 19, 2019, in 2020, through the monetization of ICMS claims held by the Company, a conversion plant for the production of toilet paper and paper towel was built in the city of Cachoeiro do Itapemirim (ES), with a capacity of thirty thousand (30,000) tons per year. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">On March 29, 2022, the Company announced its intention to build a Tissue paper mill and convert it into toilet paper and paper towels in the city of Aracruz, in the state of Esp&#237;rito Santo, with a capacity of sixty thousand (60,000) tons per year. The effective implementation of the new plant is subject to the approval of the Company&#8217;s internal bodies, including the Board of Directors, as well as the execution of agreements with the respective suppliers. The Company estimates an investment of around BRL 600 million and an implementation period of approximately two (2) years from the approval date of the undertaking. Suzano intends to make the investment using the balance of ICMS claims it has in the state, which will depend on the presentation of a specific project and authorization from the competent authorities. The construction of the new plant in Aracruz is aligned with Suzano&#8217;s strategy to advance in the links of the chain, always with a competitive advantage, as for example in the growing Brazilian market for sanitary products.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Still in convergence with the strategy to advance in the links of the chain, Suzano announced, pursuant to the Notice to the Market published on October 24, 2023, the acquisition of all the quotas held by KC Brasil in a new company that will own the assets related to the business of manufacturing, marketing, distribution and/or sale in the country of tissue products, such as toilet paper, paper towels, napkins, tissues, as well as other paper products, including ownership of the &#8220;NEVE&#8221; brand. As part of the deal, the other global brands currently used by KC Brasil will be licensed to the Company for a fixed term. The main asset provided in the Transaction refers to a tissue production plant, located in the city of Mogi das Cruzes, in the state of S&#227;o Paulo, with annual production capacity of approximately 130,000 tons.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Lignin</u>: </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">In the development of new products and processes, Suzano continuously invests in the search for technologies capable of adding value to its current business. Lignin production is scheduled to start in 2020 at the Limeira Unit (SP). With a capacity of 20 thousand tons per year, the Company will start operating in the kraft lignin segment and in a new technological frontier for the industry. Lignin may be used as a raw material from a renewable source to replace petroleum-based chemicals, in several added-value applications. Suzano is the first producer of <i style="font-style:italic;">kraft</i> lignin and derivatives in Latin America and the first in the world to produce lignin from planted and certified eucalyptus forests, which will open up unique opportunities to explore the identified potential. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">New Products</u>: </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Suzano has also invested in other research projects using the biomass and pulp as a raw material for new products. In this scope, a partnership with Ensyn was formed, a company based in the United States in which Suzano has an equity interest since 2012, in biopetroleum production projects. In 2020, the Company supported the product development process in co-processing applications at refineries and business model and project evaluation. </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Development of applications and products from the microfibrillated pulp production is another line of research and business development at Suzano. In addition to the use of this product in paper and consumer goods, Suzano has developed applications in different markets, such as, paints, asbestos cement, cosmetics, cleaning products, hygiene, among others. In 2022 we had the implementation of a 20,000 ton MFC plant in Limeira. The plant is in the startup phase for production throughout 2023.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Spinnova</u>: </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">One of the applications developed from the microfibrillated pulp production was in the textile industry. Today Suzano has a 19% equity interest in Spinnova, a Finnish materials innovation startup. In 2021 Suzano announced the creation of Woodspin, JV with Spinnova, jointly investing 22 million Euros to build the first commercial scale SPINNOVA&#174; production unit. Suzano also announced the creation of a MFC (microfibrillated pulp) plant that will supply the Woodspin plant. In 2022, we had the implementation of both plants, of 1,000 tons/year in Jyv&#228;skyl&#228;, Finland, where Spinnova&#8217;s Research and Development (R&amp;D) center is located. Both plants are in the startup phase for production throughout 2023 and Spinnova&#8217;s sustainable fiber, created from wood and waste without the use of harmful chemicals, will be available to global textile brands later this year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:36pt;white-space:nowrap;">d)</font><b style="font-size:11pt;font-weight:bold;">opportunities embedded in the issuer&#8217;s business plan related to ESG issues</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The union of innovation and sustainability is essential to allow Suzano to transform renewable raw materials from trees into innovative and sustainable bioproducts for billions of consumers in over 100 countries. The Company seeks to be an agent of change and develop solutions to address society&#8217;s greatest challenges. Combining eco-efficient operations, eucalyptus plantations and conservation areas, it is a company that contributes to fighting climate change, improving the lives of the communities where it is present. Thus, sustainability is an essential part of Suzano&#8217;s strategy and governance practices. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">As part of the Company&#8217;s strategic view, in 2020 there was the launching of growth roads, which are: i) Being &#8220;Best-in-Class&#8221; in the view of total Pulp cost; ii) Maintaining relevance in pulp, through good projects; iii) Advancing in the links of the chain, always with competitive advantage; iv) Being bold in the expansion of new markets; and v) Being a protagonist in sustainability. In the latter, the Company is focused on being part of the solutions for a fairer and more sustainable society. Therefore, the Company has assumed ambitious long-term goals that reveal how it will generate and share value with the audiences with which is involved, in addition to caring for the planet and maximizing the generation of value in its business.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company understands its role in fighting climate change. Native forests (which correspond to about 40% of its forestry base) and eucalyptus plantations together contribute directly to the removal of CO&#8322; from the atmosphere. Therefore, Suzano is committed to doing more than neutralizing the direct and indirect emissions from its value chain. Its goal is to remove significant additional amounts of carbon from the atmosphere, mitigating the effects of the global climate crisis. The following climate-related targets are among the Company&#8217;s long-term sustainability goals:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Remove 40 million tons of CO carbon</font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">&#8322;</font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> equivalent by 2025; and</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Reduce by 15% the intensity of greenhouse effect gases emissions (scopes 1 and 2) by 2030</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The company has a potential pipeline of approximately 30 million tons of carbon equivalent credits that, once certified, can be offered in the market. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Suzano ended two carbon projects from reforestation of native trees and eucalyptus in the state of Mato Grosso do Sul. The projects were independently audited and are awaiting final registration with the certifier Verra. Additionally, they must generate social and environmental benefits that are called co-benefits, with activities that can reflect in the improvement of air quality, water quantity and quality, biodiversity conservation, greater access to energy, income generation, among others.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Further reinforcing its commitment to promote regenerative businesses, in November 2022 Suzano announced, together with the companies Ita&#250; Unibanco, Marfrig, Rabobank, Santander and Vale, the creation of a company totally dedicated to forest restoration, conservation and preservation activities in Brazil. The goal of the initiative is, over the course of 20 years, to reach a total restored and protected area of 4 million hectares of native forests in different Brazilian biomes, such as the Amazon, Atlantic Forest, and Cerrado. The area is equivalent to the territory of Switzerland or the state of Rio de Janeiro.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On the energy efficiency front, the Company has an goal to increase by 50% the export of renewable energy to the grid by 2030, the result of which is reflected in a reduction of pulp production cash costs. This cost reduction derived from the capacity to self-generate renewable energy from biomass being aligned with the sustainable development guidelines for the company set out in its business plan. This exportation contributes to the country&#8217;s energy demand and to the renewability of the energy matrix, supporting the transition to a low-carbon economy.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On the innovation front, Suzano has a goal of making available 10 million tons of products of renewable origin, which can substitute plastic and other petroleum derivatives - from zero to 10 million by 2030, also bringing diversification to the Company&#8217;s product portfolio. Products of renewable origin are those made from resources that come from nature, such as cellulose from eucalyptus, and that can be regenerated in a short period of time. Increasing the availability of products of renewable origin, in addition to those we have traditionally produced in our business, is to enable a transition economy and strengthen the consolidation of a regenerative economy.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In addition to these goals, the Company works on other strategic ESG issues, such as: diversity and inclusion, education and poverty reduction, water management on forestry and industry, waste reduction and promotion of biodiversity;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On the sustainable finance front, the Company has been active in issuing debt linked to sustainability targets, issuing debt at a competitive cost. In this regard, the Company currently has three Sustainability linked-bonds, which involve the following targets: </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">SLB 2031: Reduction of GHG emissions intensity</b><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> (reduce Greenhouse Gas emissions intensity of scopes 1 and 2), with a +25 bps impact on the coupon in case of non-achievement;</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">SLBs 2032: Reduction in the water intensity withdrawn in industrial operations</b><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> (reduce water withdrawal in industry per ton of product), with a +12.5 bps impact on the coupon in case of non-achievement, and </font><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">increase the number of women in leadership positions </b><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">(reach 30% women in leadership positions (functional management and above) by 2025), with +12.5 bps impact on the coupon in case of non-achievement, for each bond issued;</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">SLBs 2028: Reduction of the intensity of water withdrawn in industrial operations </b><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">(reduce water withdrawal in the industry per ton of product), with a +25 bps impact on the coupon in case of non-achievement, and</font><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;"> increase the number of women in leadership positions </b><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">(reach 30% </font></td></tr></table></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"></td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">women in leadership positions (functional management and above) by 2025), with +25 bps impact on the coupon in case of non-achievement;</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In addition to the SLBs, at the beginning of 2021, the Company contracted an export prepayment sustainability-linked loan (SLL), in the amount of US$ 1,570 million. The facility has two sustainability performance targets (SPTs), associated with: (a) reduction of greenhouse gas (GHG) emissions intensity; and (b) reduction of industrial water withdrawal.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Lastly, at the end of 2022 Suzano contracted a new credit facility (Export Credit Supported Facility) to finance equipment and services associated with the Cerrado Project. The Export Credit Supported Facility will be financed by Finnish Export Credit &#8211; FEC and guaranteed by Finnvera, a Finnish export credit agency, in a total amount of up to US$ 800 million, or the equivalent in Euros. This transaction has as a condition precedent for the disbursement the environmental and social action plan subsequently agreed upon with the IFC to meet the IFC Performance Standards. Besides, the Company also contracted a new SLL through a new credit facility to finance the Cerrado Project. The loan, granted by the International Finance Corporation (IFC) and a syndicate of commercial banks in the amount of US$ 600 million, has two SPTs associated with targets for: (a) reduction of greenhouse gas (GHG) emissions intensity; and (b) increased representation of women occupying leadership positions in the Company. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Suzano ended 2022 with 39% of its total gross debt tied to ESG instruments (including funding from SBLs, SLLs and green bonds). For 2023 and subsequent years, the Company will continue, as one of the guidelines of its business plan, to study possibilities of increasing the participation of credit facilities and debt instruments linked to sustainability commitments within its overall financing framework. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Our non-financial information is reported annually and audited by a third party. The Annual Sustainability Report and Sustainability Center follow the main frameworks, such as the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD) and Global Reporting Initiative (GRI) disclosure standards guidelines. More information is available on our Investor Relations website (www.suzano.com.br/ri).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2.11. Comments of Officers:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Other factors with relevant influence</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">As a result of the current conflict between Russia and Ukraine, the Company continuously monitors its direct and indirect effects, reflected in society, economy, and markets (international and domestic), in order to assess possible impacts and risks to its business. </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Thus, we can separate into four (4) the Company&#8217;s main evaluation areas: </p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">People: Suzano has no employees, nor facilities, of any nature in the locations related to the conflict.</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Inputs: the Company has not identified any short or long term risk of a possible interruption or shortage in the supply of inputs for its industrial and forestry activities. So far, only a greater volatility in the power prices and commodity inputs has been verified. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Logistics: at the international level there was no change in logistical operations, that is, all the routes used remain unchanged and the moorings in the planned locations are maintained. At the domestic level, no change was identified in logistical flows either. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">Commercial: to this date, the Company continues with its transactions as planned, maintaining service to its clients in all sectors of activity. Only the suspension of sales to a few clients located in Russia was determined, with no significant financial impact. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Finally, it is worth mentioning that, as a result of the current scenario, the Company has maintained actions to increase the monitoring together with its main stakeholders, in order to ensure the necessary updating and the flow of timely information to the dynamics of the global situation for its decision making.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><a name="_Toc98941887"></a><a name="_Toc67165747"></a></font><b style="font-weight:bold;">Other relevant events</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Up to the date of this Reference Form, no other events, other than those described in this section 2.11, have materially affected the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;margin-bottom:6pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:8.95pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:-0.07%;position:absolute;top:-5.65pt;width:429pt;z-index:251674624;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:-0.07%;position:absolute;top:0.35pt;width:427.5pt;z-index:251676672;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:16pt;line-height:16pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">III.</td><td style="padding:0pt;"><b style="font-family:'Calibri Light';font-size:16pt;font-style:normal;font-weight:bold;"><a name="_Toc130463273"></a></b><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Capital Budget</b></td></tr></table><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-0.05pt;width:427.5pt;z-index:251678720;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0%;position:absolute;top:5.95pt;width:429pt;z-index:251680768;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:6pt 0pt 6pt 0pt;"><b style="font-size:12pt;font-variant:small-caps;font-weight:bold;">Capital Budget Proposal</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:6pt 0pt 6pt 0pt;"><b style="font-size:12pt;font-weight:bold;"><font style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</font><br></b><b style="font-size:12pt;font-weight:bold;">Management Proposal for Capital Budget for Fiscal Year 2023</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"><font style="display:inline-block;visibility:hidden;width:0pt;">&#8203;</font><br></font><font style="font-size:12pt;">The Company presents the proposed capital budget for the fiscal year of 2023 for posterior approval by the Annual General Shareholders&#8217; Meeting in the amount of eighteen billion, four hundred ninety-four million, seven hundred and sixty-four thousand reais (BRL 18,494,764,000.00) approved by the Board of Directors at a meeting held on March 23, 2023. </font></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr><td style="vertical-align:top;width:65.62%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt -5.25pt;"><b style="font-size:12pt;font-weight:bold;">Source</b></p></td><td style="vertical-align:top;width:34.37%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:65.62%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt -5.25pt;"><font style="font-size:12pt;">Earnings retained related to the fiscal year ended on December 31, 2022 (Section 196 of Law 6,404/76).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:34.37%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">fourteen billion, nine hundred seventy-two million, three hundred and twenty-three thousand, three hundred and seventy-seven reais and five cents (BRL 14,972,323,377.05).</font></p></td></tr><tr><td style="vertical-align:top;width:65.62%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:34.37%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:71.6pt;"><td style="vertical-align:top;width:65.62%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">Other own or third-party resources.</font></p></td><td style="vertical-align:top;width:34.37%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">three billion, five hundred twenty-two million, four hundred and forty thousand, six hundred and sixty-two reais and ninety-five cents (BRL 3,522,440,662.95)</font></p></td></tr><tr><td style="vertical-align:top;width:65.62%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:34.37%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:65.62%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt -5.25pt;"><b style="font-size:12pt;font-weight:bold;">Investments</b></p></td><td style="vertical-align:top;width:34.37%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:65.62%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt -5.25pt;"><font style="font-size:12pt;">Planned investment to meet the Company&#8217;s commitments in its growth strategy of expanding production capacity and improving processes, as detailed below:</font></p></td><td style="vertical-align:top;width:34.37%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">eighteen billion, four hundred ninety-four million, seven hundred and sixty-four thousand reais (BRL 18,494,764,000.00)</font></p></td></tr></table></div><div style="left:0%;position:relative;top:14.7pt;width:100%;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:100%;"><tr style="height:14.4pt;"><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:100%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">CAPEX - 2023</b></p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><div style="display:table-row;"><div style="width:18pt;display:table-cell;"></div><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</div><div style="display:table-cell;padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Maintenance</b></div></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:26.25%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">6,360,197,000</b></p></td></tr></table></div></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="left:0%;position:relative;top:14.7pt;width:100%;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:100%;"><tr style="height:15.6pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">Industrial Maintenance</p></td><td style="vertical-align:middle;white-space:nowrap;width:26.25%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">1,301,342,000</p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">Forestry Maintenance</p></td><td style="vertical-align:middle;white-space:nowrap;width:26.25%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">4,809,059,000</p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><font style="white-space:pre-wrap;">    Others Maintenance</font></p></td><td style="vertical-align:middle;white-space:nowrap;width:26.25%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">249,796,000</p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><div style="display:table-row;"><div style="width:18pt;display:table-cell;"></div><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</div><div style="display:table-cell;padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Expansion and Modernization</b></div></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:26.25%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">732,418,000</b></p></td></tr><tr style="height:13.8pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><div style="display:table-row;"><div style="width:18pt;display:table-cell;"></div><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</div><div style="display:table-cell;padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Lands and Forests</b></div></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:26.25%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">2,419,936,000</b></p></td></tr><tr style="height:13.8pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><div style="display:table-row;"><div style="width:18pt;display:table-cell;"></div><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</div><div style="display:table-cell;padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Port Terminals</b></div></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:26.25%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">11,600,000</b></p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><div style="display:table-row;"><div style="width:18pt;display:table-cell;"></div><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</div><div style="display:table-cell;padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Others</b></div></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:26.25%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">33,635,000</b></p></td></tr><tr style="height:15.6pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-bottom:3px double #000000;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><div border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;display:table;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><div style="display:table-row;"><div style="width:18pt;display:table-cell;"></div><div style="display:table-cell;font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</div><div style="display:table-cell;padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Cerrado Project</b></div></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:26.25%;border-bottom:3px double #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">8,936,978,000</b></p></td></tr><tr style="height:15.6pt;"><td style="vertical-align:middle;white-space:nowrap;width:73.74%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;"><b style="font-weight:bold;">TOTAL</b></p></td><td style="vertical-align:middle;white-space:nowrap;width:26.25%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">18,494,764,000</b></p></td></tr></table></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:8.95pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:-0.07%;position:absolute;top:-5.65pt;width:429pt;z-index:251682816;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:-0.07%;position:absolute;top:0.35pt;width:427.5pt;z-index:251684864;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:16pt;line-height:16pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">IV.</td><td style="padding:0pt;"><b style="font-family:'Calibri Light';font-size:16pt;font-style:normal;font-weight:bold;"><a name="_Toc130463274"></a></b><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Exhibit A of CVM Resolution No. 81/22</b></td></tr></table><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-0.05pt;width:427.5pt;z-index:251686912;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0%;position:absolute;top:5.95pt;width:429pt;z-index:251688960;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">ALLOCATION OF NET INCOME</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">1. Inform the net income for the year</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In the year ended on December 31, 2022, Suzano S.A. (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Company</u>&#8221;) recorded a net income of twenty-three billion, three hundred eighty-one million, six hundred and sixteen thousand, eight hundred thirty-three reais and seventy-four cents (BRL 23,381,616,833.74). </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">2. Inform the global amount and the value per share of dividends, including anticipated dividends and interest on equity already declared</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The meeting of the Company&#8217;s Board of Directors held on December 1<sup style="font-size:7.5pt;vertical-align:top;">st</sup>, 2022 (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">BDM 12.01.2022</u>&#8221;), resolved on the approval of anticipated dividends distribution, as interim dividends to the net income account for the year determined in the interim balance sheet drawn up on September 30, 2022 (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Interim Dividends</u>&#8221;), of two billion, three hundred and fifty million reais (BRL 2,350,000,000.00), corresponding to BRL 1.794780909 per share issued by the Company, considering the number of &#8220;<i style="font-style:italic;">ex-treasury</i>&#8221; shares on the approval date. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">No additional dividends have been proposed for approval at the Company&#8217;s Annual and Extraordinary General Shareholders&#8217; Meetings to be held on April 26, 2023 (&#8220;A<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">ESM</u>&#8221;). </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">3. Inform the percentage of net income for the year distributed</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The dividends distributed represent ten-point-zero-five percent (10.05%) of the net income for the year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">4. Inform the global amount and the value per share of dividends distributed based on profit from previous years</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There was no distribution of dividends and interest on equity (JCP) based on profits from previous years.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">5. Inform, after deducting the anticipated dividends and interest on equity already declared:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. The gross amount of dividends and interest on equity, separately, per share of each type and class</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;background:#ffff00;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">b. The form and term of payment of dividends and interest on equity</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">c. Possible levy of restatement and interest on dividends and interest on equity</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">d. Date of the declaration of payment of dividends and interest on equity considered for identification of shareholders who will be entitled to receive them</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">6. If there has been a declaration of dividends or interest on equity based on profits determined in half-yearly balance sheets or in shorter periods</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Inform the value of dividends and interest on equity already declared</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">As indicated above, the BDM 12.01.2022 declared the amount of two billion, three hundred and fifty million reais (BRL 2,350,000,000.00) as interim dividends, which will be attributed to the minimum mandatory dividend for the fiscal year ended December 31, 2022, pursuant to Section 202 of the Brazilian Corporations Law and Article 28 of the Bylaws.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">b. Inform the date of the respective payments</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The payment of the interim dividends in the amount of two billion, three hundred and fifty million reais (BRL 2,350,000,000.00) referred to in item (a) above occurred on December 27, 2022. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">7. Provide a comparative table indicating the following values per share of each type and class:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Net income for the year and the three (3) previous years</b></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:98.29%;"><tr style="height:15pt;"><td style="color:#ffffff;vertical-align:bottom;white-space:nowrap;width:52.51%;background:#0d0d0d;border-bottom:1px solid #000000;border-left:1px solid #ffffff;border-right:1px solid #ffffff;border-top:1px solid #ffffff;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Profit (loss) per share (in BRL thousand)</b></p></td><td style="color:#ffffff;vertical-align:bottom;white-space:nowrap;width:15.25%;background:#0d0d0d;border-bottom:1px solid #000000;border-right:1px solid #ffffff;border-top:1px solid #ffffff;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2022</b></p></td><td style="color:#ffffff;vertical-align:bottom;white-space:nowrap;width:15.26%;background:#0d0d0d;border-bottom:1px solid #000000;border-right:1px solid #ffffff;border-top:1px solid #ffffff;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2021</b></p></td><td style="color:#ffffff;vertical-align:bottom;white-space:nowrap;width:16.96%;background:#0d0d0d;border-bottom:1px solid #000000;border-right:1px solid #ffffff;border-top:1px solid #ffffff;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2020</b></p></td></tr><tr style="height:18pt;"><td style="vertical-align:bottom;white-space:nowrap;width:52.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">ON</p></td><td style="vertical-align:bottom;white-space:nowrap;width:15.25%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">17.57724</p></td><td style="vertical-align:bottom;white-space:nowrap;width:15.26%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.39360 </p></td><td style="vertical-align:bottom;white-space:nowrap;width:16.96%;border-bottom:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">(7.94890) </p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">b. Dividend and interest on the stockholders&#8217; equity distributed in the three (3) previous years</b></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:98.29%;"><tr style="height:15pt;"><td style="color:#ffffff;vertical-align:bottom;white-space:nowrap;width:20.28%;background:#0d0d0d;border-bottom:1px solid #000000;border-left:1px solid #ffffff;border-right:1px solid #ffffff;border-top:1px solid #ffffff;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Year</b></p></td><td style="color:#ffffff;vertical-align:bottom;white-space:nowrap;width:23.74%;background:#0d0d0d;border-bottom:1px solid #000000;border-right:1px solid #ffffff;border-top:1px solid #ffffff;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Pay Day</b></p></td><td style="color:#ffffff;vertical-align:bottom;white-space:nowrap;width:28.83%;background:#0d0d0d;border-bottom:1px solid #000000;border-right:1px solid #ffffff;border-top:1px solid #ffffff;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;"> Dividends</b></p></td><td style="color:#ffffff;vertical-align:bottom;white-space:nowrap;width:27.13%;background:#0d0d0d;border-bottom:1px solid #000000;border-right:1px solid #ffffff;border-top:1px solid #ffffff;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;"> ON (per share)</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:nowrap;width:20.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">2021</p></td><td style="vertical-align:middle;white-space:nowrap;width:23.74%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/27/2022</p></td><td style="vertical-align:middle;white-space:nowrap;width:28.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 1,000,096,676.07</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 0.741168104</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:nowrap;width:20.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">2021</p></td><td style="vertical-align:middle;white-space:nowrap;width:23.74%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">05/13/2022</p></td><td style="vertical-align:middle;white-space:nowrap;width:28.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 799,903,323.93</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 0.59280552075</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:nowrap;width:20.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">2022</p></td><td style="vertical-align:middle;white-space:nowrap;width:23.74%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12/27/2022</p></td><td style="vertical-align:middle;white-space:nowrap;width:28.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 2,350,000,000.00</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 1.794780909</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There was no distribution of dividends or interest on equity (JCP) in the fiscal year ended on December 31, 2020. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">8. If profits are allocated to the legal reserve</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Identify the amount allocated to the legal reserve</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The amount of one billion, one hundred sixty-nine million, eighty thousand, eight hundred and forty-one reais and sixty-nine cents (BRL 1,169,080,841.69), pursuant to Section 193, paragraphs 1 and 2, of the Brazilian Corporations Law, was intended for the constitution of the Legal Reserve.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">b. Detail how the legal reserve is calculated</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"> <font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The net income for the period was twenty-three billion, three hundred eighty-one million, six hundred sixteen thousand, eight hundred and thirty-three reais and seventy-four cents (BRL 23,381,616,833.74), of </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">which, 5% were allocated to the constitution of the legal reserve up to the limit of 20% of the share capital, pursuant to Section 193 of Law No. 6,404/76 and pursuant to Article 26, item (a) of the Company&#8217;s Bylaws.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">9. If the company has preferred shares entitled to fixed or minimum dividends:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Describe how fixed or minimum dividends are calculated; b. Inform whether the profit for the year is sufficient for the full payment of fixed or minimum dividends; c. Identify whether any unpaid installment is cumulative; d. Identify the global amount of fixed or minimum dividends to be paid to each class of preferred shares; e. Identify the fixed or minimum dividends to be paid per preferred share of each class</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">10. Regarding the mandatory dividend</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Describe the calculation method provided for in the bylaws</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Article 26, item (c) of the Company&#8217;s Bylaws establishes the payment of a dividend that represents, in each year, the equivalent of the lowest amount between: (i) twenty-five percent (25%) of the adjusted annual net income in the form of Section 202 of the Brazilian Corporations Law; or (ii) ten percent (10%) of the Company&#8217;s Operating Cash Generation in the respective Fiscal Year, as provided for in Article 26, paragraph 3 of the Company&#8217;s Bylaws. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">For the current fiscal year, the amount of dividends distributed in advance, in compliance with Article 26 of the Bylaws, represents ten point forty-one percent (10.41%) of the Company&#8217;s consolidated Operating Cash Generation for the year ended on December 31, 2022, calculated according to the formula below:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">GCO = Adjusted EBITDA - Maintenance CAPEX</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:94.84%;"><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Operating cash generation (EBITDA)</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;</p></td></tr><tr style="height:2.95pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:3px double transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Accounting EBITDA</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:3px double transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">29,630,670,612.22</b></p></td></tr><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Non-Recurring Adjustments:</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;</p></td></tr><tr style="height:13pt;"><td style="vertical-align:middle;white-space:nowrap;width:66.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Non-recurring items and/or non-cash</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:31.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   (1,435,772,372.28)</font></p></td></tr><tr style="height:13pt;"><td style="vertical-align:middle;white-space:nowrap;width:66.69%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:3px double transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;white-space:nowrap;width:31.49%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:13pt;"><td style="vertical-align:middle;white-space:nowrap;width:66.69%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Adjusted EBITDA</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:3px double transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:31.49%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">28,194,898,239.94</b></p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maintenance Capex (Sustain)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(5,631,233,840)</p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">GCO = Adjusted EBTIDA - Maintenance Capex (Sustain) </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:3px double transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">22,563,664,400.11</b></p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><b style="font-weight:bold;">Anticipated Dividends - RCA 12.01.2022</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:3px double transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:3px double #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:3px double #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;white-space:pre-wrap;">                    2,350,000,000.00</b></p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Consisting of: </font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;">Dividends (10%) - Art. 26, &#8220;c&#8221; of the Bylaws</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="white-space:pre-wrap;">                    2,256,366,997.47 </font></p></td></tr><tr style="height:13pt;"><td style="vertical-align:bottom;white-space:nowrap;width:66.69%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="white-space:pre-wrap;">         Additional Dividends</font></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.81%;border-bottom:1px solid transparent;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:31.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">93,633,002.53</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -7.15pt 0pt 0pt;">Where:</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -7.15pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -7.15pt 0pt 0pt;">&#8220;GCO&#8221; means the consolidated Operating Cash Generation for the Company&#8217;s fiscal year ended December 31, 2022, expressed in national currency.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -7.15pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -7.15pt 0pt 0pt;">&#8220;EBITDA&#8221; means the net income for the Company&#8217;s fiscal year ended December 31, 2022, expressed in national currency, before income tax and social contribution on profit, financial revenue and expenses, depreciation, amortization and depletion.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -7.15pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -7.15pt 0pt 0pt;">&#8220;Adjusted EBITDA&#8221; means EBITDA excluding non-recurring items and/or non-cash items and gains (losses) from change in fair value of biological assets.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">b. Inform if it is being paid in full</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Yes.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">c. Inform the amount eventually withheld</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable. &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">11. If the mandatory dividend is withheld due to the company&#8217;s financial situation: </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Inform the amount of withholding; b. Describe, in detail, the company&#8217;s financial situation, including aspects related to liquidity analysis, working capital and positive cash flows; c. Justify the retention of dividends</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable. &#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">12. In the event of allocation of results to the contingency reserve: a. Identify the amount allocated to the reserve; b. Identify the loss considered probable and its cause; c. Explain why the loss was considered probable; d. Justify the constitution of the reserve</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There will be no allocation of results to the contingency reserve.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">13. If there is allocation of results to reserve for unrealized profits: a. Inform the amount allocated to the unrealized profit reserve; b. Inform the nature of the unrealized profits that gave rise to the reserve.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">14. In case of allocation of income to statutory reserves: </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Describe the statutory clauses that establish the reserve; </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Pursuant to Article 26, item (d), of the Company&#8217;s Bylaws, after the calculation of the minimum mandatory dividend, the balance, if any, will have the destination that, as proposed by the management, is resolved by the General Shareholders&#8217; Meeting, with the right to allocate up to ninety percent (90%) to the Capital Increase Reserve, aiming to ensure adequate operating conditions. Said Reserve cannot exceed eighty percent (80%) of the share capital. The remainder will be allocated to the Special Statutory Reserve, with the purpose of guaranteeing the continuity of the semi-annual distribution of dividends, until reaching the limit of twenty (20%) of the share capital.</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">b. Identify the amount allocated to the reserve; </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:30pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Pursuant to item (d) of Article 26 of the Bylaws, the amount of two billion, nine hundred sixty-five million, five hundred sixty-one thousand, one hundred and sixty-six reais and two cents (BRL&#160;2,965,561,166.02), will be allocated to the constitution of the Capital Increase Reserve and the amount of one billion, nine hundred ninety-three million, ninety-eight thousand, two hundred and eighty-two reais and fifty-six cents (BRL 1,993,098,282.56) will be allocated to constitution of the Special Statutory Reserve.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">c. Describe how the amount was calculated.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:103.04%;"><tr style="height:14.4pt;"><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:100%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Allocation of 2022 Result</b></p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:bottom;white-space:nowrap;width:72.68%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><b style="font-weight:bold;">Net income for the year</b></p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">23,381,616,833.74</b></p></td></tr><tr style="height:15.6pt;"><td style="vertical-align:bottom;white-space:nowrap;width:72.68%;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(-) Legal reserve - 5%</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(1,169,080,841.69)</p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:bottom;white-space:nowrap;width:72.68%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(-) Tax incentives reserve</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(66,870,534.35)</p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:bottom;white-space:nowrap;width:72.68%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><b style="font-weight:bold;">= Adjusted net income</b></p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">22,145,665,457.70</b></p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;white-space:nowrap;width:72.68%;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(-) Minimum mandatory dividends - (GCO 10%) - BDM 12.01.2022</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(2,256,366,997.47)</p></td></tr><tr style="height:13.8pt;"><td style="vertical-align:middle;white-space:nowrap;width:72.68%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(-) Supplementary Dividends - BDM 12.01.2022</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(93,633,002.53)</p></td></tr><tr style="height:13.8pt;"><td style="vertical-align:middle;white-space:nowrap;width:72.68%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(+) Expired dividends</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">2,309,474.18</p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;white-space:nowrap;width:72.68%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(+) Realization of equity valuation adjustment</p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">133,007,893.75</p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:bottom;white-space:nowrap;width:72.68%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:20pt;margin:0pt;"><b style="font-weight:bold;">= Profit available for additional allocations</b></p></td><td style="vertical-align:middle;white-space:nowrap;width:27.31%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">19,930,982,825.63</b></p></td></tr><tr style="height:13.8pt;"><td style="vertical-align:bottom;white-space:nowrap;width:72.68%;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(-) Capital Increase Reserve</p></td><td style="vertical-align:top;white-space:nowrap;width:27.31%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(2,965,561,166.02)</p></td></tr><tr style="height:15.6pt;"><td style="vertical-align:bottom;white-space:nowrap;width:72.68%;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(-) Special Statutory Reserve </p></td><td style="vertical-align:top;white-space:nowrap;width:27.31%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(1,993,098,282.56)</p></td></tr><tr style="height:15.6pt;"><td style="vertical-align:bottom;white-space:nowrap;width:72.68%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:30pt;margin:0pt;">(-) Retained Earnings &#8211; Section 196</p></td><td style="vertical-align:top;white-space:nowrap;width:27.31%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">(14,972,323,377.05)</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">15. If there is retention of profits provided for in the capital budget: a. Identify the amount of retention; b. Provide copy of capital budget.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Pursuant to Section 196 of the Brazilian Corporations Law, the amount of fourteen billion, nine hundred and seventy-two million, three hundred and twenty-three thousand, three hundred and seventy-seven reais and five cents (BRL 14.972.323.377,05) was retained based on the capital budget for the fiscal year ending on December 31, 2023, which is found in <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Exhibit II</u> to this Management Proposal.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">16. If there is allocation of results to the tax incentives reserve</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">a. Inform the amount destined to the reserve</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Pursuant to Section 195-A of the Brazilian Corporations Law, the amount of sixty-six million, eight hundred and seventy thousand, five hundred and thirty-four reais and thirty-five cents (BRL 66,870,534.35) was allocated to the Tax Incentives Reserve.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">b. Explain the nature of the destination</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Investment subsidies are benefits granted as a stimulus to the implementation or expansion of economic enterprises, including through tax exemption or reduction. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">From the advent of Complementary Law No. 160/17, the incentives and fiscal or financial-fiscal benefits related to ICMS, granted by states and the Federal District and considered investment subsidies may no longer be computed in the determination of taxable income, provided they are observed the requirements and conditions imposed by Section 30 of Law No. 12,973/14, among which, the need to have been granted as a stimulus to the implementation or expansion of economic enterprises.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">At the Company, the locations that enjoy such benefits are the industrial units in Mucuri/BA, Bel&#233;m/PA and Tr&#234;s Lagoas/MS.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:8.55pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0.02%;max-width:99.98%;position:absolute;top:-5.6pt;width:429pt;z-index:251691008;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:0.5pt;width:427.5pt;z-index:251693056;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:16pt;line-height:16pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">V.</td><td style="padding:0pt;"><b style="font-family:'Calibri Light';font-size:16pt;font-style:normal;font-weight:bold;"><a name="_Toc130463275"></a><a name="_Toc98941889"></a><a name="_Toc97210273"></a></b><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Management (Section 7.3 &#8211; CVM Resolution No. 80/22)</b></td></tr></table><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0.07%;max-width:99.93%;position:absolute;top:5.55pt;width:429pt;z-index:251695104;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-0.05pt;width:427.5pt;z-index:251697152;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;visibility:hidden;background:#ffff00;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">7.3 Regarding the members of the Fiscal Council, indicate: </b><font style="display:inline-block;width:111.73pt;"></font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Statutory Executive Board of Officers</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">The information about the members of the Statutory Executive Board of Officers is not being presented in this act, considering that the election of such members will not be subject to resolution at the AESM to be held on April 26, 2023.</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Board of Directors</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><i style="font-style:italic;">The information about the members of the Board of Directors is not being presented in this act, considering that the election of such members will not be subject to resolution at the AESM to be held on April 26, 2023.</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-style:italic;font-weight:bold;">Fiscal Council</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="padding-left:3.5pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:108.18%;"><tr style="height:12.75pt;"><td style="vertical-align:middle;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><a name="_Hlk35107428"></a><b style="font-weight:bold;">Name</b></p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><b style="font-weight:bold;">Eraldo Soares Pe&#231;anha</b></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">CPF (Tax ID)</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">179.386.437-34</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Birth date</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">09/21/1951</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Profession</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Accountant</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Management body</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Fiscal Council</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Elective position occupied</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><font style="font-family:'Times New Roman','Times','serif';">F.C. (Effective) &#8211; Elected by minority shareholders</font></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Expected election date</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/26/2023</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Expected date of possession</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/26/2023</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Term of office</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Until ASM 2024</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Was elected by the controlling shareholder</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;background:#ffffff;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">No</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Start date of the first term</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/28/2017</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt -0.1pt;">Independent member </p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Not applicable</p></td></tr><tr style="height:25.5pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;padding-left:24pt;text-indent:-24pt;margin:0pt 0pt 0pt -0.1pt;"><b style="font-weight:bold;">Type of Conviction</b></p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><font style="white-space:pre-wrap;">[  ] Criminal Conviction   | [  ] Administrative Proceedings</font><br><font style="white-space:pre-wrap;">[  ] Any conviction | [x] N/A</font></p></td></tr><tr style="height:22.5pt;"><td colspan="2" rowspan="5" style="vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Description of Conviction</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Mr. Eraldo Soares Pe&#231;anha declared that, for all legal purposes, he was not subject, in the last 05 years, to the effects of any criminal conviction, any conviction or application of penalty in an administrative </font></p></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="padding-left:3.5pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:108.18%;"><tr style="height:22.5pt;"><td colspan="2" rowspan="1" style="vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">proceeding before the CVM, the Central Bank of Brazil and the Superintendence of Private Insurance and no final and unappealable conviction, in the judicial or administrative sphere, which had the effect of suspending or disqualifying the practice of any professional or commercial activity.</font></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:12.75pt;"><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Main professional experiences in the last 5 years / Declaration of possible convictions / Independence Criteria</b></p></td></tr><tr style="height:22.5pt;"><td colspan="2" rowspan="14" style="vertical-align:top;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Eraldo Soares Pe&#231;anha has a degree in Accounting and Business Administration from Universidade C&#226;ndido Mendes in Rio de Janeiro. He is currently a member of the Company&#8217;s Fiscal Council. Mr. Eraldo also holds the following positions at other companies: (i) a full member of the Fiscal Council of Cadam S.A; and (ii) a member of the Audit Committee of Banco do Estado do Rio Grande do Sul. His main professional experiences include: (i) Aracruz Celulose S.A. - Accounting, Internal Audit, and Controller Manager (1974 to 1996); (ii) CSN-Cia. Sider&#250;rgica Nacional - Controllership and IT Director (1996 to 2003); (iii) Embratel S.A. - Controlling Director and Corporate Governance Executive Director (2003 to 2008); and (iv) Icatu Seguros S.A. - Executive Director of Customer Services (2008 to 2011). He also acted as a member of the Audit Committee in the open Sas: Vale, Net Servi&#231;os de Comunica&#231;&#227;o, JBS, Ideiasnet, and S.A. Closed: Ferrovia Centro Atl&#226;ntica, It&#225; Energ&#233;tica, and Officer Distribuidora Prod. Tecnologia; as an alternate in the S.A. open: Ouro Fino Sa&#250;de Animal Participa&#231;&#245;es, CCR, AES Tiete Energia, Tupy and Padtec Holding. He was also a member of the Fiscal Council in the private retirement entities of some companies where he worked. Since 2012 he has been working as a consultant in the areas of Corporate Governance, Controllership, and Accounting/Financial Processes &amp; Systems. </font></p><div style="left:0%;position:relative;top:31.2pt;width:96.85%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Name</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;"><b style="font-weight:bold;">Kurt Janos Toth</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CPF (Tax ID)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">193.789.557-20 </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Birth date</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">10/30/1947</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Profession</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">Economist</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Management body</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">Fiscal Council</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Elective position occupied</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">F.C. (Alternate) - Elected by minority shareholders</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Expected election date</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">04/26/2023</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Expected date of possession</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">04/26/2023</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Term of office</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">Until ASM 2024</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Was elected by the controlling shareholder</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">No</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Start date of the first term</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">04/28/2017</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 1.7pt;"><font style="font-family:'Times New Roman','Times','serif';">Independent member</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">Not applicable</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;padding-left:22.8pt;text-align:justify;text-indent:-22.8pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Type of Conviction</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.8pt;">[ &#160;] Criminal Conviction &#160; | [ &#160;] Administrative Proceedings<br>[ &#160;] Any conviction | [x] N/A</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Description of Conviction</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Mr. Kurt Janos Toth declared that, for all legal purposes, he was not subject, in the last 05 years, to the effects of any criminal conviction, any conviction or application of penalty in an administrative proceeding before the CVM, the Central Bank of Brazil and the Superintendence of Private Insurance and no final and unappealable conviction, in the judicial or administrative sphere, which had the effect of suspending or disqualifying the practice of any professional or commercial activity. </font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Main professional experiences in the last 5 years / Declaration of possible convictions / Independence Criteria</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:1.27;text-align:justify;margin:0pt 0pt 8pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';">Kurt Janos Toth has a degree in Economic Sciences from Universidade Federal Fluminense and a postgraduation in Finance from the Pontifical Catholic University of Rio de Janeiro. He is currently an alternate member of the Company&#8217;s Fiscal Council. His main professional experiences in the last 5 years include acting as a member of the following Audit Committees: (i) Tupy S.A. (2017 to 2021); (ii) Brasiliana Participa&#231;&#245;es S.A. (2018 to 2019); and (iii) Eletropaulo Metropolitana Eletricidade de S&#227;o Paulo S. A. (2015 to 2017)</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></div><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Name</b></p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><b style="font-weight:bold;">Luiz Augusto Marques Paes</b></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">CPF</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">045.320.388-47 </p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Birth date</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">07/21/1961 </p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Profession</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Lawyer</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Management body</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Fiscal Council</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Elective position occupied</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><font style="font-family:'Times New Roman','Times','serif';">F.C. (Effective) - Elected by the controlling shareholder </font></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Expected election date</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/26/2023</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Expected date of possession</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/26/2023</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Term of office</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Until ASM 2024</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Was elected by the controlling shareholder</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;background:#ffffff;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Yes</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="padding-left:3.5pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:108.18%;"><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Start date of the first term</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/30/2004</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Independent member</p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Not applicable</p></td></tr><tr style="height:25.5pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt -0.1pt;"><b style="font-weight:bold;">Type of Conviction</b></p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><font style="white-space:pre-wrap;">[  ] Criminal Conviction   | [  ] Administrative Proceedings</font><br><font style="white-space:pre-wrap;">[  ] Any conviction | [x] N/A</font></p></td></tr><tr style="height:22.5pt;"><td colspan="2" rowspan="5" style="vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;text-indent:-5.5pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Description of Conviction</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Mr. &#160;Luiz Paes declared that, for all legal purposes, he was not subject, in the last 05 years, to the effects of any criminal conviction, any conviction or application of penalty in an administrative proceeding before the CVM, the Central Bank of Brazil and the Superintendence of Private Insurance and no final and unappealable conviction, in the judicial or administrative sphere, which had the effect of suspending or disqualifying the practice of any professional or commercial activity.</font></p></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:12.75pt;"><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Main professional experiences in the last 5 years / Declaration of possible convictions / Independence Criteria</b></p></td></tr><tr style="height:22.5pt;"><td colspan="2" rowspan="11" style="vertical-align:top;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Luiz Augusto Marques Paes graduated in Law from the Law School of the University of S&#227;o Paulo &#8211; USP. He is currently a permanent member of the Company&#8217;s Fiscal Council. Mr. Luiz Paes also holds the following positions at other companies: (i) effective member of the Fiscal Council of Vamos Loca&#231;&#227;o de Caminh&#245;es, M&#225;quinas E Equipamentos S.A.; (ii) permanent member of the Fiscal Council of Cyrela Brazil Realty S.A. Empreendimentos e Participa&#231;&#245;es; (iii) permanent member of the Fiscal Council of Cury Construtora e Incorporadora S.A.; (iv) member of the Audit Committee of JSL S.A.; and (v) partner at the law firm Paes e Colauto Sociedade de Advogados, working in the area of legal consulting in Tax and Corporate Law.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Name</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;"><b style="font-weight:bold;">Roberto Figueiredo Mello </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">CPF (Tax ID)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">532.755.358-20</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Birth date</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">08/06/1948 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Profession</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Lawyer</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Management body</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Fiscal Council</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Elective position occupied</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">F.C. (Alternate) - Elected by the controlling shareholder</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Expected election date</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">04/26/2023</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Expected date of possession</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">04/26/2023</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Term of office</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Until ASM 2024</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Was elected by the controlling sharehol</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Yes</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Start date of the first term</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">04/30/2004</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Independent member</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Not applicable</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="padding-left:3.5pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:108.18%;"><tr style="height:22.5pt;"><td colspan="2" rowspan="11" style="vertical-align:top;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Type of Conviction</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">[ &#160;] Criminal Conviction &#160; | [ &#160;] Administrative Proceedings<br>[ &#160;] Any conviction | [x] N/A</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Description of Conviction</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Mr. Roberto Mello declared that, for all legal purposes, he was not subject, in the last 05 years, to the effects of any criminal conviction, any conviction or application of penalty in an administrative proceeding before the CVM, the Central Bank of Brazil and the Superintendence of Private Insurance and no final and unappealable conviction, in the judicial or administrative sphere, which had the effect of suspending or disqualifying the practice of any professional or commercial activity. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Main professional experiences in the last 5 years / Declaration of possible convictions / Independence Criteria</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Roberto Figueiredo Mello graduated in Law from the Law School of the University of S&#227;o Paulo &#8211; USP. He is currently an alternate member of the Company&#8217;s Fiscal Council. Mr. Roberto is also a founding partner of Pacaembu Servi&#231;os e Participa&#231;&#245;es Ltda.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:19pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Name</b></p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Rubens Barletta </b></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">CPF (Tax ID)</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><font style="font-family:'Times New Roman','Times','serif';">397.909.328-04 </font></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Birth date</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><font style="font-family:'Times New Roman','Times','serif';">08/10/1946 </font></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Profession</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Lawyer</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Management body</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Fiscal Council</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Elective position occupied</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><font style="font-family:'Times New Roman','Times','serif';">F.C. (Effective) - Elected by controlling shareholder</font></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Expected election date</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/26/2023</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Expected date of possession</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/26/2023</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Term of office</p></td><td style="vertical-align:top;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Until ASM 2024</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Was elected by the controlling shareholder</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;background:#ffffff;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Yes</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Start date of the first term</p></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">04/30/2004</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt -0.1pt;">Independent member</p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;">Not applicable</p></td></tr><tr style="height:25.5pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Type of Conviction</b></p></td><td style="vertical-align:middle;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 0pt 23.9pt;"><font style="white-space:pre-wrap;">[  ] Criminal Conviction   | [  ] Administrative Proceedings</font><br><font style="white-space:pre-wrap;">[  ] Any conviction | [x] N/A</font></p></td></tr><tr style="height:22.5pt;"><td colspan="2" rowspan="5" style="vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;text-indent:-5.5pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Description of Conviction</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Mr. &#160;Rubens Barletta declared that, for all legal purposes, he was not subject, in the last 05 years, to the effects of any criminal conviction, any conviction or application of penalty in an administrative </font></p></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="padding-left:3.5pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:108.18%;"><tr style="height:22.5pt;"><td colspan="2" rowspan="1" style="vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">proceeding before the CVM, the Central Bank of Brazil and the Superintendence of Private Insurance and no final and unappealable conviction, in the judicial or administrative sphere, which had the effect of suspending or disqualifying the practice of any professional or commercial activity. </font></p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:middle;white-space:nowrap;width:44.15%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:55.84%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:12.75pt;"><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Main professional experiences in the last 5 years / Declaration of possible convictions / Independence Criteria</b></p></td></tr><tr style="height:22.5pt;"><td colspan="2" rowspan="11" style="vertical-align:top;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Rubens Barletta graduated in Law from the Law School of S&#227;o Bernardo do Campo. He is currently a permanent member of the Company&#8217;s Fiscal Council. The Rubens Barletta also holds the following positions at other companies: a (i) member of the Fiscal Council of Banco Alfa de Investimento S.A.; (ii) member of the Fiscal Council of Alfa Holdings S.A.; (iii) member of the Fiscal Council of Tegma Gest&#227;o Log&#237;stica S.A.; and (iv) partner at Barletta e Schubert Sociedade de Advogados.</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Name</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;"><b style="font-weight:bold;">Luiz Gonzaga Ramos Schubert </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">CPF (Tax ID)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">080.501.128-53 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Birth date</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">04/12/1937 </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Profession</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Lawyer</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Management body</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Fiscal Council</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Elective position occupied</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">F.C. (Alternate) - Elected by the controlling shareholder</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Expected election date</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">04/26/2023</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Expected date of possession</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">04/26/2023</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Term of office</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Until ASM 2024</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Was elected by the controlling shareholder</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Yes</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Start date of the first term</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">ASM 2003</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Independent member</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">Not applicable</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Type of Conviction</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt 0pt 0pt 22.7pt;">[ &#160;] Criminal Conviction &#160; | [ &#160;] Administrative Proceedings<br>[ &#160;] Any conviction | [x] N/A</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Description of Conviction</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Mr. Schubert declared that, for all legal purposes, he was not subject, in the last 05 years, to the effects of any criminal conviction, any conviction or application of penalty in an administrative proceeding before the CVM, the Central Bank of Brazil and the Superintendence of Private Insurance and no final and unappealable conviction, in the judicial or administrative sphere, which had the effect of suspending or disqualifying the practice of any professional or commercial activity.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Main professional experiences in the last 5 years / Declaration of possible convictions / Independence Criteria</b></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="padding-left:3.5pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:108.18%;"><tr style="height:22.5pt;"><td colspan="2" rowspan="11" style="vertical-align:top;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;">Mr. Luiz Gonzaga Ramos Schubert graduated in Law from the Law School of S&#227;o Bernardo do Campo. &#160;He is currently an alternate member of the Company&#8217;s Fiscal Council. Luiz Schubert is also a partner at Barletta e Schubert Sociedade de Advogados. His main professional experiences: from 1972 to March 2009, he participated as an intern and, later, he was a partner at the Escrit&#243;rio de Advocacia Augusto Lima S/C.</p><p style="display:none;font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:0pt;text-align:justify;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:19pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr><tr style="height:22.5pt;"><td colspan="2" style="display:none;vertical-align:middle;width:100%;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:16pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:8.95pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:-0.07%;position:absolute;top:-5.65pt;width:429pt;z-index:251699200;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:-0.07%;position:absolute;top:0.35pt;width:427.5pt;z-index:251701248;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:16pt;line-height:16pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">VI.</td><td style="padding:0pt;"><b style="font-family:'Calibri Light';font-size:16pt;font-style:normal;font-weight:bold;"><a name="_Toc130463276"></a></b><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Management Compensation (Section 8 &#8211; CVM Resolution No. 80/22)</b></td></tr></table><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-0.05pt;width:427.5pt;z-index:251703296;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0%;position:absolute;top:5.95pt;width:429pt;z-index:251705344;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><b style="font-weight:bold;">8. Manager&#8217;s Compensation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><b style="font-weight:bold;">8.1 - Compensation policy or practice</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(a)</b></font><b style="font-weight:bold;">Objectives of the compensation policy or practice, informing whether the compensation policy has been formally approved, the body responsible for its approval, date of approval and, if the issuer discloses the policy, locations on the world wide web where the document can be consulted.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company&#8217;s compensation policy was approved at a Meeting of the Company&#8217;s Board of Directors held on February 09, 2022, at 11:45 a.m., and aims to attract and retain professionals who are aligned with its principles and values and with the shareholders&#8217; objectives.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">To this end, the Company bases its policy on monitoring the external environment and annually compares its salary scale with reference markets, composed of companies that compete in the segments in which it operates, Brazilian multinational companies, publicly-held companies or companies that have a compensation strategy similar to that of the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company&#8217;s compensation policy aims to establish a strategy of constant search for attracting and retaining talents who can add value to its activities and, thereby, generate greater profitability for its shareholders. The compensation proposed by the Company to the Executive Board is based on offering a compensation plan linked to the market value of the Company&#8217;s shares. This strategy, in addition to allowing such talents to be remunerated competitively with the market, imbues these executives with a greater sense of <i style="font-style:italic;">ownership</i> to the extent that the appreciation of the shares represents a personal gain, while an eventual depreciation of the value of the shares in the market can mean a relevant impact on their personal compensation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company also practices, in relation to short-term variable compensation, the distribution of profit sharing based on goals that are aligned with the Company&#8217;s strategy and that are appropriate for each portion of its employees.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">For some employees who have direct or indirect and active responsibility in the Company&#8217;s long-term strategy, the possibility of accessing a long-term incentive program linked to the appreciation of the Company&#8217;s shares is also offered.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Both programs aim to encourage the Company&#8217;s expansion and the achievement of established business goals, based on the creation of incentives aimed at greater alignment of our executives, managers and employees with the Company&#8217;s objectives.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company&#8217;s compensation policy is available at <u style="color:#0562c1;text-decoration-color:#0562c1;text-decoration-line:underline;text-decoration-style:solid;">https://ri.suzano.com.br</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(b)</b></font><b style="font-weight:bold;">practices and procedures adopted by the board of directors to define the individual compensation of the board of directors and the executive board</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 35.4pt;"><b style="font-weight:bold;">i. the issuer&#8217;s bodies and committees that participate in the decision-making process, identifying how they participate </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Board of Directors appoints a Nomination and Compensation Committee whose function is to individualize the global amount of the compensation of Directors and Officers approved at the Annual Shareholder&#8217;s Meeting, observing market research carried out by consulting firms.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Thus, the Nomination and Compensation Committee is a body that reports to the Board of Directors and has its activities advised by the Company&#8217;s Expertise-Compensation area. Meetings of the Nomination and Compensation Committee are convened according to the need to review the manager&#8217;s compensation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Nomination and Compensation Committee is currently formed by one (1) member of the Board of Directors and two (2) non-management members who have experience in Executive and Board of Directors Compensation and are not linked to any consulting companies that carry out the aforementioned market research. The members of the Nomination and Compensation Committee are selected based on nominations by the Board of Directors, being submitted to interviews by the Committee Coordinator. The selection process of the members assesses their independence from the Company itself and the contracted consultants, and the technical knowledge of the members in executive compensation (Executive Board and Board of Directors).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 35.4pt;"><font style="font-weight:bold;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 35.4pt;"><b style="font-weight:bold;">ii. criteria and methodology used to determine individual compensation, indicating whether studies are used to verify market practices, and, if so, the comparison criteria and scope of these studies</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The total compensation of managers is established in accordance with market standards, based on research carried out by a body of renowned consulting firms specializing in the subject.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Annually, two surveys are conducted by renowned consulting firms to define criteria and compare the compensation of the Board of Directors, Fiscal Council and Committees.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Currently, consulting firms Willis Towers Watson and Korn Ferry are used, which analyze the main practices and trends of a group of large companies with characteristics and size comparable to the Company, taking into account the time spent by the Directors, monthly compensation, total fees considering short- and long-term compensation and participation in other committees, in addition to which benefits are granted in these organizations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 35.4pt;"><font style="font-weight:bold;margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 35.4pt;"><b style="font-weight:bold;">iii. how often and in what way does the board of directors assess the adequacy of the issuer&#8217;s compensation policy</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Annually, the Nomination and Compensation Committee evaluates the data received from the surveys carried out by Willis Towers Watson and Korn Ferry and verifies the need to adapt or review the compensation policy, seeking to maintain a balance with the companies being compared and attractiveness in the search for Directors suitable to the complexity of their roles in the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(c)</b></font><b style="font-weight:bold;">Compensation Breakdown</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 35.4pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36.6pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(i)</b></font><b style="font-weight:bold;">Description of the several elements that breakdown the compensation, including, with respect to each one of them:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Their objectives and alignment with the issuer&#8217;s short, medium and long-term interests</b></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The following are considered as elements of compensation:</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:6pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">&#9679;</font>Annual fixed compensation: includes salary or pro-labore, direct and indirect benefits and compensation for participation in committees, among others, with the objective of reward in the short term.</div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:6pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">&#9679;</font>Short-term variable compensation: includes profit sharing, with the objective of rewarding the achievement of goals set in a short-term view. The definition of such goals are aligned with the Company&#8217;s strategic objectives that mainly aim at the financial health of the business, operational optimization and acceptance to Environment, Social and Governance(ESG) aspects</div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:6pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">&#9679;</font>Share-based compensation: long-term incentive program that covers (i) the Phantom Shares Plan, the (ii) Share Appreciation Rights Plan (SAR) and the (iii) Restricted Performance Shares Plan, with the objective of reward in the long term. Such plans have as one of their main pillars to propose to the executive the recurrent search for the company&#8217;s growth, to generate greater alignment with the shareholders&#8217; interests and the perpetuity of the Company in a long-term view.</div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:6pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">&#9679;</font>Post-employment benefits: covers private pension, with the objective of assistance after the termination of the relationship with the Company.</div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.35pt;white-space:nowrap;">&#9679;</font>Benefits motivated by the cessation of the exercise of the position: none</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The application of these elements, as well as their objectives and their alignment with respect to the Company&#8217;s short, medium and long-term interests, occur detailed below: </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><a name="_Toc98941894"></a><a name="_Toc67165751"></a><font style="font-style:italic;font-weight:bold;">Board of Directors</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fixed compensation</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Board of Directors are only entitled to a fixed compensation, which is established in accordance with market standards and aims to reward, attract and retain Directors who add value to the Company&#8217;s results.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In turn, Directors who are permanently dedicated and who are also part of Advisory Committees to the Board of Directors, in addition to fixed compensation, are eligible to receive additional fees due to such participation in the committees.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">It is important to emphasize that, although the Board of Directors is a collegiate body, the compensation values of its members do not necessarily need to be uniform, since their determination must take into account subjective criteria, e.g. (i) the level of the professional&#8217;s responsibilities, (ii) their training and competence, (iii) the possible accumulation of positions and functions in the Company and (iv) the value of their services in the market. Thus, in order to ensure isonomy and equality, different amounts may be practiced as compensation for each of the directors, in the interests of the Company, as shown above.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Variable compensation</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Board of Directors are eligible to participate in the long-term incentive plans, which, by granting restricted shares, reward executives for achieving goals that support the Company&#8217;s medium and long-term strategic objectives.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The variable compensation program work to align the Directors with the shareholders&#8217; objectives and the Company&#8217;s sustainability.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Both the fixed and the long-term variable compensation of the members of the Executive Board are established, in accordance with the market standards, through surveys conducted by renowned consultancies specialized in the subject.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Benefits</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Members of the Board of Directors who do not have permanent dedication are not entitled to any benefit.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">With respect to the members of the Board of Directors who are permanently dedicated, the Company grants a life insurance benefit.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><a name="_Toc98941895"></a><a name="_Toc67165752"></a><font style="font-style:italic;font-weight:bold;">Executive Board of Officers</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fixed compensation</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Executive Board are only entitled to a fixed compensation, which is established in accordance with market standards and aims to reward, attract and retain executives who add value to the Company&#8217;s results.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Variable compensation</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Executive Board are entitled to variable compensation and are eligible to participate in short-term incentive plans as a form of reward for achieving goals that support the Company&#8217;s short-term strategy.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Additionally, members of the Executive Board are eligible to participate in long-term incentive plans, which, through a Phantom Shares mechanism, rewards executives for achieving goals that support the Company&#8217;s medium and long-term strategic objectives.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Both tranches of the variable compensation work to align the executives with the shareholders&#8217; objectives and the Company&#8217;s sustainability.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Both the fixed and variable compensation of the members of the Executive Board are established, in accordance with market standards, through surveys conducted by renowned consultancies specialized in the subject.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Benefits</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company grants the following benefits to members of the Executive Board: food vouchers, meal vouchers, group life insurance, life insurance for personal accidents, private pension, health check-up, health plan and dental plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">As well as the compensation, the benefits offered also follow market standards through research conducted by a renowned consultancy specializing in the subject.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><a name="_Toc98941896"></a><a name="_Toc67165753"></a><font style="font-style:italic;font-weight:bold;">Fiscal Council</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company&#8217;s Fiscal Council is not permanent and, when installed, is composed of independent professionals.</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fixed compensation</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The compensation policy of its members follows the existing legislation, which provides for compensation of at least 10% of the fixed compensation, on average, attributed to the members of the Statutory Executive Board of Officers, not counting the benefits, representation allowances and profit sharing distributed to the other Officers.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Variable compensation</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Fiscal Council are not eligible to receive any variable compensation. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Benefits</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company makes the mandatory reimbursement of travel and accommodation expenses necessary for the performance of the function, in accordance with the existing legislation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">With the exception of reimbursement of expenses, members of the Fiscal Council are not eligible to receive benefits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><a name="_Toc98941897"></a><a name="_Toc67165754"></a><font style="font-style:italic;font-weight:bold;">Committees</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fixed compensation</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Company&#8217;s committees are eligible for a fixed compensation that cannot exceed, in aggregate, the maximum amount defined by the Company&#8217;s management based on market research.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Variable compensation</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Company&#8217;s committees are not eligible to receive variable compensation. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Benefits</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Company&#8217;s committees are not eligible to receive benefits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Their proportion in the total compensation in the last 3 fiscal years </b></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In the last three fiscal years, the members of the Board of Directors, without permanent dedication, received fixed compensation, with no portion of variable compensation, share-based compensation or post-employment benefits, in the same way as the members of the Fiscal Council.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">As for members of the Board of Directors with permanent dedication, the table below indicates the percentage of the fixed and variable compensation applicable to the period, with no share-based compensation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.7697525%;table-layout:auto;width:103.53%;" align="center"><tr style="height:20.45pt;"><td style="vertical-align:top;width:25%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Year</b></p></td><td style="vertical-align:top;width:24.99%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#ffffff;">Fixed Compensation (1)</font></p></td><td style="vertical-align:top;width:24.99%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#ffffff;">Short-Term Variable Compensation (2)</font></p></td><td style="vertical-align:top;width:24.99%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#ffffff;">Long-Term Variable Compensation (3)</font></p></td></tr><tr style="height:11.2pt;"><td style="vertical-align:top;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">2022</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">100%</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">n/a</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">n/a</p></td></tr><tr style="height:11.2pt;"><td style="vertical-align:top;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">2021</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">100%</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">n/a</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">n/a</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.7697525%;table-layout:auto;width:103.53%;" align="center"><tr style="height:11.5pt;"><td style="vertical-align:top;width:25%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">2020</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">100%</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">n/a</p></td><td style="vertical-align:middle;width:24.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">n/a</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">(1) Fixed compensation (salaries/management fees, charges, direct and indirect benefits and post-employment).</p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">(2) Short-term variable compensation (bonuses, charges and profit sharing).</p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">(3) Long-term variable compensation (share-based).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Regarding the Executive Board, the table below indicates the percentage of the fixed compensation portion (salaries/management fees, direct and indirect and post-employment benefits), the short-term variable (bonus and profit sharing) and the long-term variable compensation (share-based):</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-2.034336%;table-layout:auto;width:104.06%;" align="center"><tr style="height:25.25pt;"><td style="vertical-align:top;width:16.55%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#ffffff;">Year</font></p></td><td style="vertical-align:top;width:27.81%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#ffffff;">Fixed Compensation (1)</font></p></td><td style="vertical-align:top;width:27.81%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#ffffff;">Short-Term Variable Compensation (2)</font></p></td><td style="vertical-align:top;width:27.8%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="color:#ffffff;">Long-Term Variable Compensation (3)</font></p></td></tr><tr style="height:12.55pt;"><td style="vertical-align:top;width:16.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">2022</p></td><td style="vertical-align:middle;width:27.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">39%</p></td><td style="vertical-align:middle;width:27.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">15%</p></td><td style="vertical-align:middle;width:27.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">46%</p></td></tr><tr style="height:12.55pt;"><td style="vertical-align:top;width:16.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">2021</p></td><td style="vertical-align:middle;width:27.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">32%</p></td><td style="vertical-align:middle;width:27.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">15%</p></td><td style="vertical-align:middle;width:27.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">53%</p></td></tr><tr style="height:12.75pt;"><td style="vertical-align:top;width:16.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">2020</p></td><td style="vertical-align:middle;width:27.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">25%</p></td><td style="vertical-align:middle;width:27.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">9%</p></td><td style="vertical-align:middle;width:27.8%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">66%</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">(1) Fixed compensation (salaries/management fees, charges, direct and indirect benefits and post-employment).</p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">(2) Short-term variable compensation (bonuses, charges and profit sharing).</p><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt;">(3) Long-term variable compensation (share-based).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">These percentages may vary depending on the result of the indicators that guide the variable compensation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Its methodology for calculating and adjusting</b></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The amounts of compensation paid by the Company to members of the Executive Board, Board and Committees are periodically compared with the amounts paid by the market, especially by competing companies in the segments in which the Company operates, Brazilian multinational companies, publicly-held companies or companies that have a compensation strategy similar to that practiced by the Company, according to guidelines established by the compensation strategy, through research carried out by renowned external consultants specialized in the subject, in order to determine the degree of competitiveness and, if necessary, assess the need to propose adjustments in some component of the compensation that is misaligned.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">Key performance indicators that are taken into account therein, including, if applicable, indicators linked to ESG issues</b></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">For the fixed portion of the compensation, market research and the relative positioning of the compensation in relation to this market are considered. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The variable installments (variable compensation and share-based compensation) are based on indicators that demonstrate support for the Company&#8217;s strategy. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The indicators used to determine individual performance are: </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Working capital, including inventories and payment term; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- <i style="font-style:italic;">Equity</i> raising and debt; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Compliance with defined critical activities; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Compliance with the budget within the defined limits; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Fixed, variable and marketing costs; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Effective availability of planting areas; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Company&#8217;s net debt and cost; </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- EBITDA; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Effective preparation and presentation of a business plan; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Execution of steps related to innovation actions; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Effective closing of contracts; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Free cash flow; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Effective implementation of planned activities; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Operational integrations of acquired companies; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Maintenance of an adequate capital structure; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Contribution margin; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Pulp and paper production levels; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Operating Cash Generation; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Investment analysis through net present value, project return rates and payback; </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Analysis of forest operating, industrial and logistics efficiency;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Acceptance to ESG aspects, such as: Diversity and Inclusion, Taking people out of poverty line and having new beneficiaries in income generation programs, Carbon Credit Projects, Compliance with SOX regulations and internal controls, among others.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">For the post-employment benefit, market research and the relative positioning of its practice in this same market are also taken into consideration.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(ii)</b></font><b style="font-weight:bold;">reasons that justify the composition of the compensation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">We seek to align the composition of our compensation with the proportions practiced by the market and these are also dimensioned in order to achieve the objective of the compensation strategy regarding the positioning of total compensation above the average of this selected market.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(iii)</b></font><b style="font-weight:bold;">existence of members not remunerated by the issuer and the reason for this fact</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no unpaid members.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(d)</b></font><b style="font-weight:bold;">existence of compensation supported by subsidiaries, controlled companies or direct or indirect controlling shareholders</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The compensation of managers who occupy a position in the management of controlled companies, for the functions performed in them, received from such companies, is not submitted to the resolution of the Company&#8217;s General Meeting, and, therefore, such amount is not included in the amounts disclosed in section 8.2 of this Reference Form.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Board of Directors</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are members of the Board of Directors who, within the scope of their respective participation in the Board of Directors and/or Executive Board of Officers of Suzano Holding S.A. and IPLF Holding S.A., also have fixed and variable compensation (bonus and profit sharing) paid directly by these companies, Suzano Holding S.A. is the direct parent of the Company. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Executive Board of Officers</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are members of the Executive Board of Officers who receive fixed compensation from <i style="font-style:italic;">Ibema Companhia Brasileira de Papel</i>, a company directly controlled by the Company, as fees for participating in the Board of Directors, according to the amounts highlighted in item 8.19.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fiscal Council</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no members of the Fiscal Council whose compensation is supported by subsidiaries, controlled companies or direct or indirect controllers.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Committees</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Among the members of the non-statutory Committees, there are members who also receive fixed and variable compensation (bonus and profit sharing) supported by direct controlling shareholders, given their participation in the Board of Directors and/or Executive Board of Officers of the following companies: Suzano Holding S.A. and IPLF Holding S.A.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">(e)</b></font><b style="font-weight:bold;">existence of any compensation or benefit linked to the occurrence of a certain corporate event, such as the sale of corporate control of the issuer</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Currently, there is no compensation or benefit for management members linked to the occurrence of a certain corporate event. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><b style="font-weight:bold;">8.2 - Total Compensation of the Board of Directors, Statutory Executive Board and Fiscal Council</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="font-weight:bold;margin-right:0pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-14.205078%;table-layout:auto;width:128.41%;" align="center"><tr style="height:17.95pt;"><td colspan="5" style="vertical-align:top;width:100%;background:#c0c0c0;border-bottom:1px solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation expected for the current Fiscal Year 12/31/2023 - Annual Amounts</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:22.06%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Board of Directors</p></td><td style="vertical-align:middle;width:19.48%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td><td style="vertical-align:middle;width:19.48%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Fiscal Council</p></td><td style="vertical-align:middle;width:19.49%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Total</p></td></tr><tr style="height:16.7pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total number of members</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19.00</p></td></tr><tr style="height:16.7pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of paid members</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Annual fixed compensation</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">16,061,606.86</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">31,220,175.69</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1,242,646.66</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">48,524,429.22</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Salary or pro-labore</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,428,088.61</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">30,540,701.69</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1,242,646.66</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">43,211,436.96</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Direct and indirect benefits</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">30,956.86</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">679,474.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">710,430.86</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Participation in committees</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">4,602,561.40</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">4,602,561.40</p></td></tr><tr style="height:30.75pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Description of other fixed compensation</p></td><td style="vertical-align:top;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#160;</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Variable compensation</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,420,781.36</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,420,781.36</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Bonus</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Profit sharing</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,420,781.36</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,420,781.36</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Attendance in meetings</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Commissions</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Others</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:50.25pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Description of other variable compensation</p></td><td style="vertical-align:top;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#160;</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Post-employment</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">731,971.09</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">731,971.09</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Employment termination</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:18.45pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Share-based (including options)</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3,101,508.72</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">67,760,502.11</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">70,862,010.83</p></td></tr><tr style="height:62.15pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Note</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:bottom;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#160;</p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,163,115.58</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">119,133,430.26</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1,242,646.66</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">139,539,192.50</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-14.205078%;table-layout:auto;width:128.41%;" align="center"><tr style="height:16.8pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Other&#185;</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3,206,130.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7,006,148.17</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">248,529.33</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">10,460,807.50</p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Total compensation with charges</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">22,369,245.58</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">126,139,578.43</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1,491,175.99</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">150,000,000.00</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">&#185; </b>Mandatory social charges are considered, amounts highlighted according to Circular Letter </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-14.205078%;table-layout:auto;width:128.41%;" align="center"><tr style="height:17.95pt;"><td colspan="5" style="vertical-align:top;width:100%;background:#c0c0c0;border-bottom:1px solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation for the Fiscal Year ended on 12/31/2022 - Annual Amounts</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:22.06%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Board of Directors</p></td><td style="vertical-align:middle;width:19.48%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td><td style="vertical-align:middle;width:19.48%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Fiscal Council</p></td><td style="vertical-align:middle;width:19.49%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Total</p></td></tr><tr style="height:16.7pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total number of members</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.33</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19.33</p></td></tr><tr style="height:16.7pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of paid members</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.33</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19.33</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Annual fixed compensation</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">15,911,411.10</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">25,029,431.26</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">987,600.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">41,928,442.36</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Salary or pro-labore</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">10,590,794.50</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">24,505,063.37</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">987,600.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">36,083,457.87</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Direct and indirect benefits</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">26,616.60</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">524,367.89</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">550,984.49</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Participation in committees</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5,294,000.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5,294,000.00</p></td></tr><tr style="height:30.75pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Description of other fixed compensation</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Variable compensation</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,580,965.24</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,580,965.24</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Bonus</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Profit sharing</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,580,965.24</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,580,965.24</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Attendance in meetings</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Commissions</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Others</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:50.25pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Description of other variable compensation</p></td><td style="vertical-align:top;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Post-employment</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">548,472.12</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">548,472.12</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Employment termination</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:18.45pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Share-based (including options)</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">36,315,154.05</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">36,315,154.05</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-14.205078%;table-layout:auto;width:128.41%;" align="center"><tr style="height:62.15pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Note</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:bottom;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">15,911,411.10</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">73,474,022.67</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">987,600.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#160;90,373,033.77</p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Other&#185;</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3,189,257.48</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5,463,497.90</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">197,520.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8,850,275.38</p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:middle;width:19.45%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Total compensation with charges</p></td><td style="vertical-align:middle;width:22.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,100,668.58</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">78,937,520.57</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1,185,120.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">99,223,309.15</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">&#185; </b>Mandatory social charges are considered, amounts highlighted according to Circular Letter </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-15.010574%;width:130.02%;" align="center"><tr style="height:17.95pt;"><td colspan="5" style="vertical-align:top;width:100%;background:#c0c0c0;border-bottom:1px solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation for the Fiscal Year ended on 12/31/2021 - Annual Amounts</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Board of Directors</p></td><td style="vertical-align:middle;width:19.23%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Fiscal Council</p></td><td style="vertical-align:middle;width:19.22%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Total</p></td></tr><tr style="height:16.7pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total number of members</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">10.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.08</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">20.08</p></td></tr><tr style="height:16.7pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of paid members</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">10.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.08</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">20.08</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Annual fixed compensation</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">16,803,220.60</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">23,018,906.01</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">882,000.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">40,704,126.61</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Salary or pro-labore</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,053,936.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">22,668,904.18</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">882,000.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">34,604,840.18</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Direct and indirect benefits</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">26,616.60</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">350,001.83</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">376,618.43</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Participation in committees</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5,722,668.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5,722,688.00</p></td></tr><tr style="height:31.5pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Description of other fixed compensation</p></td><td style="vertical-align:top;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:top;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:top;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Variable compensation</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,991,759.07</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,991,759.07</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Bonus</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Profit sharing</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,991,759.07</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,991,759.07</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Attendance in meetings</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Commissions</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Others</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr><tr style="height:47.25pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Description of other variable compensation</p></td><td style="vertical-align:top;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Post-employment</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">503,011.44</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">503,011.44</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Employment termination</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-15.010574%;width:130.02%;" align="center"><tr style="height:18.45pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Share-based (including options)</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">47,274,890.38</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">47,574,890.38</p></td></tr><tr style="height:62.15pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Note</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">16,803,220.60</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">83,788,566.90</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">882,000.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">101,473,787.50</p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Other&#185;</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3,355,320.80</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">4,833,752.10</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">176,400.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8,365,472.90</p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:middle;width:20.51%;background:#dcdcdc;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation with charges</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">20,158,541.40</p></td><td style="vertical-align:middle;width:19.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">88,622,319.00</p></td><td style="vertical-align:middle;width:20.51%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1,058,400.00</p></td><td style="vertical-align:middle;width:19.22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.27pt 0pt 5.27pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">109,839,260.40</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">&#185; </b>Mandatory social charges are considered, amounts highlighted according to Circular Letter </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-14.205078%;table-layout:auto;width:128.41%;" align="center"><tr style="height:17.95pt;"><td colspan="5" style="vertical-align:top;width:100%;background:#c0c0c0;border-bottom:1px solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation for the Fiscal Year ended on 12/31/2020 - Annual Amounts</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:22.07%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Board of Directors</p></td><td style="vertical-align:top;width:19.47%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Statutory Executive Board</p></td><td style="vertical-align:top;width:19.48%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Fiscal Council</p></td><td style="vertical-align:top;width:19.49%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Total</p></td></tr><tr style="height:16.7pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total number of members</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">9.58</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">8.00</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">3.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">20.58</p></td></tr><tr style="height:16.7pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of paid members</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">9.58</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">8.00</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">3.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">20.58</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Annual fixed compensation</p></td><td style="vertical-align:middle;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">18,840,149.94</p></td><td style="vertical-align:middle;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">113,928,178.08</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">951,840.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">133,720,168.02</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Salary or pro-labore</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">11,202,154.43</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">     22,416,869.91 </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">793,200.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">34,869,024.34</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Direct and indirect benefits</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">30,082.30</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">299,555.86</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">329,638.16</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Participation in committees</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">4,435,124.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">4,435,124.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Others</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">3,172,789.21</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">4,909,959.91</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">158,640.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">8,241,389.12</p></td></tr><tr style="height:62.75pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Description of other fixed compensation</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">INSS (employer&#8217;s charge) levied on the annual fixed compensation.</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Variable compensation</p></td><td style="vertical-align:middle;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">10,757,596.78</p></td><td style="vertical-align:middle;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">10,757,596.78</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Bonus</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Profit sharing</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">10,757,596.78</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">10,757,596.78</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Attendance in meetings</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Commissions</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Others</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-14.205078%;table-layout:auto;width:128.41%;" align="center"><tr style="height:62.75pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Description of other variable compensation</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">INSS (employer&#8217;s charge) levied on the variable compensation (bonus).</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Post-employment</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">522,096.74</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">522,096.74</p></td></tr><tr style="height:16.95pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Employment termination</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td></tr><tr style="height:18.45pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.5pt solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Share-based (including options)</p></td><td style="vertical-align:top;width:22.07%;border-bottom:2.25pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.47%;border-bottom:2.25pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">75,022,098.88</p></td><td style="vertical-align:top;width:19.48%;border-bottom:2.25pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">0.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:2.25pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">75,022,098.88</p></td></tr><tr style="height:62.15pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Note</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:2.25pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:2.25pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:2.25pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The number of members of each body was calculated considering the annual average of the number of members calculated monthly.</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:2.25pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:16.8pt;"><td style="vertical-align:top;width:19.45%;background:#dcdcdc;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total compensation</p></td><td style="vertical-align:top;width:22.07%;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">18,840,149.94</p></td><td style="vertical-align:top;width:19.47%;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">113,928,178.08</p></td><td style="vertical-align:top;width:19.48%;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">951,840.00</p></td><td style="vertical-align:top;width:19.49%;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.65pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">133,720,168.02</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><b style="font-weight:bold;">8.3 - Variable compensation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Current fiscal year (2023)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-6.0912476%;table-layout:auto;width:112.18%;" align="center"><tr style="height:37.9pt;"><td style="vertical-align:middle;width:33.32%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Body</b></p></td><td style="vertical-align:middle;width:17.13%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Board of Directors</b></p></td><td style="vertical-align:middle;width:16.48%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Executive Board</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Statutory</b></p></td><td style="vertical-align:middle;width:16.48%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:16.48%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Total</b></p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total number of members</p></td><td style="vertical-align:middle;width:17.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.00</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19.00</p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of paid members</p></td><td style="vertical-align:middle;width:17.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Bonus</b></p></td><td colspan="5" style="vertical-align:middle;width:66.67%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:14.15pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Minimum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:17.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maximum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:17.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td></tr><tr style="height:25.2pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount provided for in the compensation plan &#8211; goals achieved</p></td><td style="vertical-align:middle;width:17.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td></tr><tr style="height:13.95pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Profit sharing</b></p></td><td colspan="5" style="vertical-align:middle;width:66.67%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Minimum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:17.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">-&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">-&#160;</p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maximum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:17.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,420,781.36</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,420,781.36</p></td></tr><tr style="height:25.25pt;"><td style="vertical-align:middle;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount provided for in the compensation plan &#8211; goals achieved</p></td><td style="vertical-align:middle;width:17.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,231,935.41</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.48%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,231,935.41</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Fiscal year ended on 12/31/2022</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-5.738472%;table-layout:auto;width:111.47%;" align="center"><tr style="height:37.9pt;"><td style="vertical-align:middle;width:33.55%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Body</b></p></td><td style="vertical-align:middle;width:16.6%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Board of Directors</b></p></td><td style="vertical-align:middle;width:16.61%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Executive Board</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Statutory</b></p></td><td style="vertical-align:middle;width:16.61%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:16.61%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Total</b></p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total number of members</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.33</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19.33</p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of paid members</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Bonus</b></p></td><td colspan="4" style="vertical-align:middle;width:66.44%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:14.15pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Minimum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maximum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td></tr><tr style="height:25.2pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount provided for in the compensation plan &#8211; goals achieved</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td></tr><tr style="height:25.2pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount effectively recognized in the result</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:13.95pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Profit sharing</b></p></td><td colspan="4" style="vertical-align:middle;width:66.44%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Minimum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">-&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">-&#160;</p></td></tr><tr style="height:14.1pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maximum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">15,179,929.00</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">15,179,929.00</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-5.738472%;table-layout:auto;width:111.47%;" align="center"><tr style="height:25.25pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount provided for in the compensation plan &#8211; goals achieved</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8,644,614.50</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A&#160;</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8,644,614.50</p></td></tr><tr style="height:25.25pt;"><td style="vertical-align:middle;width:33.55%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount effectively recognized in the result</p></td><td style="vertical-align:middle;width:16.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,580,965.24</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">11,580,965.24</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Fiscal year ended on 12/31/2021</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="margin-left:-21.55pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:106.66%;"><tr style="height:40.25pt;"><td style="vertical-align:middle;width:29.86%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Body</b></p></td><td style="vertical-align:middle;width:18.03%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Board of Directors</b></p></td><td style="vertical-align:middle;width:17.92%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Executive Board</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Statutory</b></p></td><td style="vertical-align:middle;width:16.23%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:17.94%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Total</b></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total number of members</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">10.00</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.08</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">20.08</p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of paid members</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.08</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.08</p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Bonus</b></p></td><td colspan="4" style="vertical-align:middle;width:70.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Minimum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maximum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:26.75pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount provided for in the compensation plan &#8211; goals achieved</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:26.75pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount effectively recognized in the fiscal year</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:14.75pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Profit sharing</b></p></td><td colspan="4" style="vertical-align:middle;width:70.13%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Minimum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:14.95pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maximum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">13,978,040.69</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">13,978,040.69</p></td></tr><tr style="height:26.8pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount provided for in the compensation plan &#8211; goals achieved</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7,960,167.22</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7,960,167.22</p></td></tr><tr style="height:26.8pt;"><td style="vertical-align:middle;width:29.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount effectively recognized in the fiscal year</p></td><td style="vertical-align:middle;width:18.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,991,759.07</p></td><td style="vertical-align:middle;width:16.23%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:17.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,991,759.07</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Fiscal year ended on 12/31/2020</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="margin-left:-21.55pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:106.27%;"><tr style="height:39.05pt;"><td style="vertical-align:top;width:37.34%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Body</b></p></td><td style="vertical-align:top;width:17.91%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Board of Directors</b></p></td><td style="vertical-align:top;width:15.87%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Executive Board</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Statutory</b></p></td><td style="vertical-align:top;width:12.49%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:top;width:16.31%;background:#1e487c;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="color:#ffffff;font-weight:bold;">Total</b></p></td></tr><tr style="height:18.5pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Total number of members</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.58</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8.00</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3.00</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">20.58</p></td></tr><tr style="height:14.5pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of paid members</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:-21.55pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:106.27%;"><tr style="height:14.5pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Bonus</p></td><td colspan="5" style="vertical-align:middle;width:62.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:14.55pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Minimum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:14.5pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maximum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:25.95pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount provided for in the compensation plan &#8211; goals achieved</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:25.95pt;"><td style="vertical-align:middle;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount effectively recognized in the fiscal year</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:14.35pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Profit sharing</p></td><td colspan="5" style="vertical-align:middle;width:62.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:14.5pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Minimum amount provided for in the compensation plan</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">-</p></td></tr><tr style="height:14.5pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Maximum amount provided for in the compensation</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">plan</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">14,541,512.70</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">14,541,512.70</p></td></tr><tr style="height:26pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount provided for in the compensation plan &#8211; goals achieved</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8,281,051.35</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8,281,051.35</p></td></tr><tr style="height:26pt;"><td style="vertical-align:top;width:37.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Amount effectively recognized in the fiscal year</p></td><td style="vertical-align:middle;width:17.91%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:15.87%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">10,757,596.78</p></td><td style="vertical-align:middle;width:12.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:16.31%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">10,757,596.78</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">8.4. Share-based compensation plan for the board of directors and statutory executive board</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">a)</font><b style="font-weight:bold;">General terms and conditions</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company has three share-based Long-Term Incentive Plans: (i) the Phantom Shares Plan (<i style="font-style:italic;">Phantom Shares</i>), the (ii) SAR Plan and the (iii) Restricted Performance Shares Plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">General conditions for the grant are established by the Company, which are defined in specific regulations according to the guidelines and conditions established by the Bylaws and by the Company&#8217;s Board of Directors.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In general, the amount to be awarded is determined based on (i) achievement of goals and</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">(ii) discretionary amounts assigned by the Company&#8217;s management in relation to the level of compliance with corporate indicators.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Additionally, as resolved in a meeting of the People Committee held in April 2022, the share-based compensation plans will have the compensation resulting from the distribution of dividends made by the company to the market, during the grace period of the programs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:34.15pt;white-space:nowrap;">(i)</font><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Phantom Shares Plan</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">For its main executives and key members among its employees, the Company has a long-term incentive plan linked to the Company&#8217;s share price, with payment in cash (cash settlement) (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Phantom</u> <u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Shares Plan</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The determination of the number of phantom shares to be granted to each beneficiary is defined taking as a reference the beneficiary&#8217;s salary, a salary multiple and the average of the last 90 quotations of the Company&#8217;s share on B3.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The grace period and maturity of the plans may vary from 3 (three) to 5 (five) years, from the grant date, according to the characteristics of each plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:34.15pt;white-space:nowrap;">(ii)</font><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">SAR Plan</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">For its main executives and key members among its employees, the Company has the SAR (<i style="font-style:italic;">Share Appreciation Rights</i>, or Share Value Appreciation Plan) (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">SAR Plan</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The determination of the number of phantom shares to be granted to each beneficiary is defined taking as a reference the beneficiary&#8217;s salary, a salary multiple and the average of the last 90 quotations of the Company&#8217;s share on B3.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The beneficiary must invest five (5%) of the total amount corresponding to the number of phantom share options at the time of grant and twenty (20%) after three (3) years to effect the acquisition of the option.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The grace period of the plan corresponds to three (3) years from the grant date, with a lock-up period of 6 months. Upon completion of the lock-up period, the beneficiary may exercise the plan within the exercise window of up to 2 (years) after the grace period ends.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The share value is measured based on the average share price of the last 90 trading sessions as of the closing of the last trading day of the month prior to the plan redemption month. The measurement also considers the <a name="_Hlk127542894"></a>Total Shareholder Return (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">TSR</u>&#8221;), which is a mechanism used to measure the performance of shares of different companies in a certain time interval, combining the share price to demonstrate the return provided to the shareholder. The share value at the time of redemption is multiplied by the TSR observed in the period (which varies between 75% and 125%), depending on the performance of the SUZB3 share with respect to the shares of competing companies &#8211; the &#8220;Reference Group&#8221;. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="letter-spacing:-0.1pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;font-weight:bold;min-width:34.15pt;white-space:nowrap;">(iii)</font><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Restricted Performance Shares Plan</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company has a Restricted Shares Plan based on the Company&#8217;s performance (&#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Restricted Shares Program</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Restricted Performance Shares Plan &#8211; Executive Board</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">This plan associates the number of restricted shares granted to the Company&#8217;s performance in relation to the targets contracted for the period. Such targets are defined according to a strategic priority metric for the company and are approved by the Board of Directors. For the current year, operating cash generation and environmental, social and governance (Environmental, social and corporate governance &#8211; &#8220;<u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">ESG</u>&#8221;) goals were established.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The number of restricted shares is defined in financial terms, being later converted into shares based on the last 60 trading sessions of SUZB3 on B3, prior to December 31 of the year prior to the grant.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">After the measurement of the goals that takes place 12 months after the execution of the contract, the restricted shares will be granted to the executives (conditioned to the achievement of the goals established in the program). However, the grant beneficiaries must comply with the lock-up period of thirty-six (36) months, during which they will not be able to trade the shares.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Restricted Performance Shares Plan &#8211; Board of Directors</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">As of 2023, a new Performance Restricted Shares Plan was entered into with the Board of Directors, which rewards members for achieving goals that support the Company&#8217;s medium and long-term strategic objectives. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">This plan associates the number of restricted shares granted to the Company&#8217;s performance in relation to two performance indicators, which are: </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Total Shareholder Return (&#8220;TSR&#8221;)</u> </p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:21.3pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Mechanism used to measure the performance of shares of different companies in a certain time interval, combining the share price to demonstrate the return provided to the shareholder. The share value at the time of redemption is multiplied by the TSR observed in the period (which varies between 75% and 125%), depending on the performance of the SUZB3 share with respect to the shares of competing companies &#8211; the &#8220;Reference Group&#8221;. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:21.3pt;text-align:justify;text-indent:-21.3pt;margin:0pt;"><font style="text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:21.3pt;text-align:justify;text-indent:-21.3pt;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">TSR Spread</u></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:21.3pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">This mechanism considers the compound annual growth rate (CAGR) for comparing Suzano&#8217;s TSR Spread over a certain time interval, with the compound annual growth rate of competing companies &#8211; &#8220;Reference Group&#8221;, in which it rewards the program according to an established performance range.</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The number of restricted shares is defined in financial terms, being later converted into shares based on the last 90 trading sessions of SUZB3 on B3, prior to December 31 of the year prior to the grant.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">After the program performance indicators measurement of the goals that takes place 36 months after the execution of the contract, the restricted shares will be booked to the executives (conditioned to the achievement of the goals established in the program).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">b)</font><b style="font-weight:bold;">Approval date and responsible body</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;">The Company&#8217;s Long-Term Incentive Plans were approved by the corporate governance bodies of Suzano S.A. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">c)</font><b style="font-weight:bold;">Maximum number of shares covered</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The maximum number of shares covered is conditioned to the achievement of the established goals and discretionary assessment attributed by the Company&#8217;s management in relation to the level of compliance with the corporate indicators.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">d)</font><b style="font-weight:bold;">Maximum number of options to be granted</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:14.2pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Phantom Shares Plan and SAR Plan: The maximum number of shares to be granted to each beneficiary is defined taking as a reference the beneficiary&#8217;s salary, a salary multiple according to the level of the position and the average of the last 90 quotations of the Company&#8217;s share on B3.</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:14.2pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Restricted Performance Shares Plan: Considering the eligibility program to the executive board, the maximum number of shares to be granted is defined in financial terms, being later converted into shares based on the last 60 trading sessions of SUZB3 on B3, prior to December 31 of the year prior to grant. Considering the eligibility program to the Board of Directors, the maximum number of shares to be granted is defined in financial terms, being later converted into shares based on the last 90 trading sessions of SUZB3 on B3, prior to December 31 of the year prior to grant.</font></td></tr></table></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">e)</font><b style="font-weight:bold;">Share acquisition conditions</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;min-width:36.95pt;white-space:nowrap;">&#9679;</font>Phantom Shares Plan</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:2.75pt;margin:0pt;">Phantom shares will only be paid if the beneficiary maintains the employment relationship on the date of payment and has completed the grace period of the program.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Therefore, in the event of termination on the initiative of the Company or the beneficiary, before completing the grace period, the beneficiary loses the right to receive all amounts. In the event of retirement, the maturity of the terms for exercising the phantom shares will be anticipated, granting the beneficiary the right to immediately exercise</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">the entirety of the plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;min-width:36pt;white-space:nowrap;">&#9679;</font>SAR Plan</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The beneficiary will be entitled to exercise the plan if he/she maintains the employment relationship on the date of payment, has fulfilled the grace period and lock-up of the program and has made the due investments stipulated in the contract. In the event of termination, the following rules are considered:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Termination by the company: the beneficiary loses the right to redeem the shares, but receives the 5% invested at the time of grant, adjusted by the IPCA.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Termination by the employee: &#160;The employee loses the right to the shares and the 5% investment paid in the grant.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">- Retirement: the expiration of the periods foreseen for the exercise of the phantom shares will be brought forward, granting the beneficiary the right to immediately exercise the entirety of the plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:21.3pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Restricted Performance Shares Plan</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The Directors and key members of the Company are eligible for this plan, after validation by the Board of Directors.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Regarding the acquisition conditions, the granting of restricted shares is conditioned to the Company&#8217;s performance in relation to the goals established in the grant agreement and also to the permanence of the beneficiaries during the reference period for the determination of the goals.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In the event of termination of the relationship between the Company and the beneficiary, the following rules are defined for the options granted herein:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:21.3pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Termination at the initiative of the beneficiary: The beneficiary will not be entitled to the granting of Restricted Shares, referring to the current year&#8217;s goal if he/she does not complete the period from January to December and reaches the goal, and may only receive all the Restricted Shares granted herein, respecting the Lockup Periods forecast for each year worked at the Company;</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:21.3pt;text-indent:-21.3pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:21.3pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">- Termination at the initiative of the Company: The beneficiary may exercise all options, exercisable or not, respecting the Grace Periods provided for each year worked at the Company; and</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:21.3pt;text-indent:-21.3pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:12.9pt;"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:21.3pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Death or permanent disability: The beneficiary and/or heirs may exercise her/his options, exercisable or not, within thirty (30) days from the event (disability or death).</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">f)</font><b style="font-weight:bold;">Criteria for setting the acquisition or exercise price</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:0.7pt;left:23.1%;max-width:76.9%;position:absolute;top:12.2pt;width:3.35pt;z-index:251707392;"><div style="height:0.7pt;left:0pt;padding-bottom:0pt;position:relative;width:3.35pt;"><img src="tmb-20230324xex99d2028.jpg" alt="Graphic" style="height:0.7pt;width:3.35pt;"></div></div></div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;min-width:41.25pt;white-space:nowrap;">&#9679;</font>Phantom Shares Plan </div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">There is no exercise price, as the plan is not based on options, but on the value of the shares. However, the gain corresponding to each <i style="font-style:italic;">phantom shares</i> granted is calculated as follows:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">VR = VMA x Number of phantom shares, being:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">VR = Redeemed Amount = Amount to be redeemed by the beneficiary.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">VMA = quotation of the Company&#8217;s shares calculated by the average of the last 90 trading sessions, counting from the closing of the last trading day preceding the settlement date.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;min-width:41.25pt;white-space:nowrap;">&#9679;</font>SAR Plan </div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The exercise price, corresponding to each SAR (phantom option), at which the beneficiaries may exercise his/her option, is calculated as follows:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Pe = 20% x average of the last 90 trading sessions before the grant date. The redeemed value is given by: VR = [VMA - Pe] x TSR, where:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">VR = Redeemed Amount = Amount to be redeemed by the beneficiary</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">VMA = quotation of the Company&#8217;s shares calculated by the average of the last 90 trading sessions, counting from the closing of the last trading day preceding the settlement date.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">TSR = percentage linked to the Company&#8217;s performance in relation to its competitors, which can vary from 75% to 125%, when applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;min-width:41.25pt;white-space:nowrap;">&#9679;</font>Restricted Performance Shares Plan </div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">g)</font><b style="font-weight:bold;">Criteria for setting the acquisition or exercise period</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The exercise period must respect at least the cycle that the Company determines as adequate for the return of the beneficiaries&#8217; shares in the form of results for the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:28.35pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Phantom Shares Plan The exercise period is up to 5 years after the grant.</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:28.35pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">SAR Plan </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The maximum term of exercise is 5 years after the grant.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:28.35pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Restricted Performance Shares Plan </font></td></tr></table></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:12.85pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">h)</font><b style="font-weight:bold;">Settlement method</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:0.7pt;left:-3.68%;position:absolute;top:12.15pt;width:2.75pt;z-index:251709440;"><div style="height:0.7pt;left:0pt;padding-bottom:0pt;position:relative;width:2.75pt;"><img src="tmb-20230324xex99d2029.jpg" alt="Graphic" style="height:0.7pt;width:2.75pt;"></div></div></div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;min-width:36.95pt;white-space:nowrap;">&#9679;</font>Phantom Shares Plan and SAR Plan </div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Settlement is made in cash and is paid on the payroll in favor of the beneficiary when all conditions are met.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;min-width:36.95pt;white-space:nowrap;">&#9679;</font>Restricted Performance Shares Plan </div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The Performance Restricted Shares Plan, the settlement is made through the Company&#8217;s treasury shares</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">i)</font><b style="font-weight:bold;">Restrictions on the transfer of shares</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:0.7pt;left:-3.68%;position:absolute;top:12.15pt;width:2.75pt;z-index:251711488;"><div style="height:0.7pt;left:0pt;padding-bottom:0pt;position:relative;width:2.75pt;"><img src="tmb-20230324xex99d2029.jpg" alt="Graphic" style="height:0.7pt;width:2.75pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:0.7pt;left:42.83%;max-width:57.17%;position:absolute;top:12.15pt;width:2.75pt;z-index:251713536;"><div style="height:0.7pt;left:0pt;padding-bottom:0pt;position:relative;width:2.75pt;"><img src="tmb-20230324xex99d2029.jpg" alt="Graphic" style="height:0.7pt;width:2.75pt;"></div></div></div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;min-width:36.95pt;white-space:nowrap;">&#9679;</font><font style="white-space:pre-wrap;">Phantom Shares Plan  and SAR Plan </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Not applicable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;min-width:36.95pt;white-space:nowrap;">&#9679;</font>Restricted Performance Shares Plan </div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Executive Board of Officers: There is a lockup period of thirty-six (36) months, within which the transfer of shares is not allowed.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Board of Directors: There is no lockup period and the transfer of shares takes place after the plan&#8217;s grace period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">j)</font><b style="font-weight:bold;">Criteria and events that, when verified, will cause the suspension, change or termination of the plan</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In the event of dissolution or liquidation of the Company, the beneficiaries of the Stock Option Plan will be able to exercise their options that can already be exercised in the period between the date of convening the general meeting of shareholders whose purpose is to resolve on the dissolution or liquidation of the Company and the date of the meeting.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Otherwise, the options will be extinguished, in the same way as its Regulation and the respective Adhesion Contracts.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Stock Option Plans, as well as the Phantom Shares Plan and the SAR Plan, may be terminated, at any time, by decision of the Company&#8217;s management. The expiration of the plans will not affect the effectiveness of the options still in force that have been granted by means of the current regulation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-weight:bold;min-width:34.15pt;white-space:nowrap;">k)</font><b style="font-weight:bold;">Effects of the manager&#8217;s withdrawal from the issuer&#8217;s bodies on his/her rights provided for in the share-based compensation plan</b></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Regarding the Phantom Shares Plan, (i) in the event of dismissal with cause or request for voluntary resignation or dismissal without cause by the company, the beneficiary will automatically lose any right to exercise the Phantom Shares granted to him/her, without indemnification; (ii) in the event of retirement, </p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:11.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">the expiration of the periods foreseen for the exercise of the Phantom Shares will be brought forward, granting the beneficiary the right to immediately exercise the entirety of the Phantom Shares; and (iii) in the absence of situation (i) above, the vesting conditions are considered to be fully satisfied, thus allowing the beneficiary to exercise its Phantom Shares under the terms defined by the regulations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:0.7pt;left:5.77%;max-width:94.23%;position:absolute;top:10.45pt;width:3.25pt;z-index:-9223372036603060224;"><div style="height:0.7pt;left:0pt;padding-bottom:0pt;position:relative;width:3.25pt;"><img src="tmb-20230324xex99d2032.jpg" alt="Graphic" style="height:0.7pt;width:3.25pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">With respect to SAR Plan, (i) in situations of dismissal for just cause or request for voluntary resignation, the beneficiary will automatically lose any right to exercise the SAR granted to him/her, without compensation, also losing the amount invested to join the program; (ii) in the event of dismissal without just cause, the beneficiary will only receive the amount invested to join the program adjusted by the IPCA index; and (iii) in the event of retirement, the expiration of the periods foreseen for the exercise of the SAR will be brought forward.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">With respect to the Restricted Performance Shares Plan, (i) Withdrawal on the initiative of the beneficiary: Will not be entitled to the granting of Restricted Shares, referring to the current year&#8217;s goal if he/she does not complete the competence from January to December and reaching the goal, and may only receive all Restricted Shares granted herein, respecting the Lockup Periods forecast for each year worked at the Company; and (ii) in the event of termination on the Company&#8217;s initiative, death and permanent disability: may exercise all options, exercisable or not, respecting the Grace Periods provided for each year worked at the Company;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">8.5 - Share-based compensation (Stock options)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The information from SAR Plan are presented in the following tables.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no stock option grant plans available to the Board of Directors or Fiscal Council. Only the Statutory Executive Board of Officers is covered by this plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There may be variation in the number of shares/options granted when comparing tables of consecutive years due to the change in the number of Statutory Officers from one year to the other.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-style:italic;visibility:hidden;">&#8203;</font></p><div style="margin-left:-0.5pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:102.01%;"><tr style="height:19.95pt;"><td style="color:#ffffff;vertical-align:bottom;width:43.66%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:11.76%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:11.68%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:3.12%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:29.66%;background:#203965;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Forecast ending on 12/31/2023</b></p></td></tr><tr style="height:34pt;"><td style="vertical-align:middle;width:43.66%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="5" style="vertical-align:middle;width:56.33%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board </p></td></tr><tr style="height:34pt;"><td style="vertical-align:middle;width:43.66%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="5" style="vertical-align:middle;width:56.33%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:34pt;"><td style="vertical-align:middle;width:43.66%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="5" style="vertical-align:middle;width:56.33%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:34pt;"><td colspan="6" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Weighted average exercise price of each of the following option groups</p></td></tr><tr style="height:38.45pt;"><td style="vertical-align:middle;width:43.66%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">i. outstanding at the beginning of the fiscal year</p></td><td colspan="4" style="vertical-align:middle;width:56.23%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 10.47</p></td></tr><tr style="height:32.5pt;"><td style="vertical-align:middle;width:43.66%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">ii. lost and expired during the fiscal year</p></td><td colspan="5" style="vertical-align:middle;width:56.33%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:32.5pt;"><td style="vertical-align:middle;width:43.66%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">iii. exercised during the fiscal year</p></td><td colspan="5" style="vertical-align:middle;width:56.33%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:48.05pt;"><td style="vertical-align:middle;width:43.66%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">e) Potential dilution in case of exercise of all options</p></td><td colspan="5" style="vertical-align:middle;width:56.33%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Does not apply for SAR</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:102.43%;"><tr style="height:20.25pt;"><td style="color:#ffffff;vertical-align:bottom;width:24.09%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:13.99%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:13.99%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:15.89%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:32.01%;background:#203965;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:24.09%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="4" style="vertical-align:middle;width:75.9%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board </p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:102.43%;"><tr style="height:34.5pt;"><td style="vertical-align:middle;width:24.09%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="4" style="vertical-align:middle;width:75.9%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:24.09%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="4" style="vertical-align:middle;width:75.9%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:34.5pt;"><td colspan="5" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Weighted average exercise price of each of the following option groups</p></td></tr><tr style="height:39pt;"><td style="vertical-align:middle;width:24.09%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">i. outstanding at the beginning of the fiscal year</p></td><td colspan="4" style="vertical-align:middle;width:75.9%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 10.12</p></td></tr><tr style="height:33pt;"><td style="vertical-align:middle;width:24.09%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">ii. lost and expired during the fiscal year</p></td><td colspan="4" style="vertical-align:middle;width:75.9%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">-</p></td></tr><tr style="height:33pt;"><td style="vertical-align:middle;width:24.09%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">iii. exercised during the fiscal year</p></td><td colspan="4" style="vertical-align:middle;width:75.9%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 8.56</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:top;width:24.09%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">e) Potential dilution in case of exercise of all options</p></td><td colspan="4" style="vertical-align:middle;width:75.9%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Does not apply for SAR</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:102.55%;"><tr style="height:20.25pt;"><td style="color:#ffffff;vertical-align:bottom;width:22.32%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:15.49%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:15.5%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:15.5%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:31.17%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:22.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="4" style="vertical-align:middle;width:77.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board </p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:22.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="4" style="vertical-align:middle;width:77.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.08</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:22.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="4" style="vertical-align:middle;width:77.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.08</p></td></tr><tr style="height:34.5pt;"><td colspan="5" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Weighted average exercise price of each of the following option groups</p></td></tr><tr style="height:39pt;"><td style="vertical-align:bottom;width:22.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">i. outstanding at the beginning of the fiscal year</p></td><td colspan="4" style="vertical-align:middle;width:77.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 7.14</p></td></tr><tr style="height:33pt;"><td style="vertical-align:bottom;width:22.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">ii. lost and expired during the fiscal year</p></td><td colspan="4" style="vertical-align:middle;width:77.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">There is not</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:102.55%;"><tr style="height:33pt;"><td style="vertical-align:bottom;width:22.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">iii. exercised during the fiscal year</p></td><td colspan="4" style="vertical-align:middle;width:77.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 3.69</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:top;width:22.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">e) Potential dilution in case of exercise of all options</p></td><td colspan="4" style="vertical-align:middle;width:77.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Does not apply for SAR</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div style="left:0%;position:relative;top:-1.05pt;width:100%;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:3.5pt;padding-right:3.5pt;width:100%;"><tr style="height:22pt;"><td style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:59.88%;background:#203764;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3.5pt 0pt 3pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><a name="_Hlk65136826"></a><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:40.11%;background:#203764;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2020</b></p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;width:59.88%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;width:40.11%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:14.4pt;"><td style="vertical-align:middle;width:59.88%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.11%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8.00</p></td></tr><tr style="height:26pt;"><td style="vertical-align:middle;width:59.88%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.11%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:26pt;"><td colspan="2" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Weighted average exercise price of each of the following option groups</p></td></tr><tr style="height:26pt;"><td style="vertical-align:middle;width:59.88%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">i. outstanding at the beginning of the fiscal year</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.11%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 5.77</p></td></tr><tr style="height:38.8pt;"><td style="vertical-align:middle;width:59.88%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">ii. lost and expired during the fiscal year</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.11%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">There is not</p></td></tr><tr style="height:26pt;"><td style="vertical-align:middle;width:59.88%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">iii. exercised during the fiscal year</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.11%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 3.06</p></td></tr><tr style="height:40.75pt;"><td style="vertical-align:middle;width:59.88%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">e) Potential dilution in case of exercise of all options</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.11%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Does not apply for SAR&#160;</p></td></tr></table></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:28.8pt;text-align:justify;text-indent:-28.8pt;margin:0pt 0pt 0pt -0.44pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;vertical-align:sub;">8.6 - Stock option grant (Stock Options)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The information from SAR Plan are presented in the following tables.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no stock option grant plans available to the Board of Directors or Fiscal Council. Only the Statutory Executive Board of Officers is covered by this plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There may be variation in the number of shares/options granted when comparing tables of consecutive years due to the change in the number of Statutory Officers from one year to the other.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.18226624%;table-layout:auto;width:100.36%;" align="center"><tr style="height:20.05pt;"><td style="color:#ffffff;vertical-align:bottom;width:22.39%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:15%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:15.59%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:47%;background:#203965;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Forecast ending 12/31/2023</b></p></td></tr><tr style="height:34.3pt;"><td style="vertical-align:bottom;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board </p></td></tr><tr style="height:34.3pt;"><td style="vertical-align:bottom;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total number of members</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:34.3pt;"><td style="vertical-align:bottom;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of paid members</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:24.55pt;"><td colspan="4" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">In relation to each granting of stock options:</p></td></tr><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">d) Grant date</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2023</p></td></tr><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) Number of options granted</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">114,072</p></td></tr><tr style="height:31.25pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Deadline for the options to become exercisable</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2026</p></td></tr><tr style="height:35.05pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">g) Maximum period for exercising the options</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2028</p></td></tr><tr style="height:35.05pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">h) Restriction period for the transfer of shares received as a result of the exercise of options</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">N/A</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.18226624%;table-layout:auto;width:100.36%;" align="center"><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">i) Fair value of the options on the grant date</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 67.80</p></td></tr><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1px solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">j) Multiplication of the number of shares granted by the fair value of the options on the grant date</p></td><td colspan="3" style="vertical-align:middle;width:77.6%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7,734,081.60</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.18226624%;table-layout:auto;width:100.36%;" align="center"><tr style="height:20.05pt;"><td style="color:#ffffff;vertical-align:bottom;width:22.39%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:13.66%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></td><td colspan="2" style="color:#ffffff;vertical-align:bottom;width:16.6%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></td><td colspan="3" style="color:#ffffff;vertical-align:bottom;width:47.34%;background:#203965;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:34.3pt;"><td style="vertical-align:bottom;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td colspan="6" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board </p></td></tr><tr style="height:34.3pt;"><td style="vertical-align:bottom;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total number of members</p></td><td colspan="6" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:34.3pt;"><td style="vertical-align:bottom;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of paid members</p></td><td colspan="6" style="vertical-align:middle;width:77.6%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:24.55pt;"><td colspan="7" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">In relation to each granting of stock options:</p></td></tr><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">d) Grant date</p></td><td colspan="2" style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2019</p></td><td colspan="2" style="vertical-align:middle;width:19.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2020</p></td><td style="vertical-align:middle;width:19.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2021</p></td><td style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2022</p></td></tr><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) Number of options granted</p></td><td colspan="2" style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">19,622</p></td><td colspan="2" style="vertical-align:middle;width:19.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">113,349</p></td><td style="vertical-align:middle;width:19.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">71,999</p></td><td style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">145,568</p></td></tr><tr style="height:31.25pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Deadline for the options to become exercisable</p></td><td colspan="2" style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2022</p></td><td colspan="2" style="vertical-align:middle;width:19.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2023</p></td><td style="vertical-align:middle;width:19.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2024</p></td><td style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2025 </p></td></tr><tr style="height:35.05pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">g) Maximum period for exercising the options</p></td><td colspan="2" style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2024</p></td><td colspan="2" style="vertical-align:middle;width:19.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2025</p></td><td style="vertical-align:middle;width:19.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2026</p></td><td style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2027 </p></td></tr><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">h) Restriction period for the transfer of shares</p></td><td colspan="2" style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">N/A</p></td><td colspan="2" style="vertical-align:middle;width:19.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:19.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;"> N/A </font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.18226624%;table-layout:auto;width:100.36%;" align="center"><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1px solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">i) Fair value of the options on the grant date</p></td><td colspan="2" style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 34.17</p></td><td colspan="2" style="vertical-align:middle;width:19.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 33.68</p></td><td style="vertical-align:middle;width:19.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 62.85</p></td><td style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 58.62</p></td></tr><tr style="height:38.75pt;"><td style="vertical-align:middle;width:22.39%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">j) Multiplication of the number of shares granted by the fair value of the options on the grant date</p></td><td colspan="2" style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1px solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                   670,483.74 </font></p></td><td colspan="2" style="vertical-align:middle;width:19.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">               3,817,594.32 </font></p></td><td style="vertical-align:middle;width:19.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">               4,525,137.15 </font></p></td><td style="vertical-align:middle;width:19.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">               8,533,196.16 </font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;table-layout:auto;width:99.83%;" align="center"><tr style="height:20pt;"><td style="color:#ffffff;vertical-align:bottom;width:22.53%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:15.3%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:16.16%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p></td><td colspan="3" style="color:#ffffff;vertical-align:bottom;width:46%;background:#203965;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:34.1pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td colspan="5" style="vertical-align:middle;width:77.46%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board </p></td></tr><tr style="height:34.1pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total number of members</p></td><td colspan="5" style="vertical-align:middle;width:77.46%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.08</p></td></tr><tr style="height:34.1pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of paid members</p></td><td colspan="5" style="vertical-align:middle;width:77.46%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">6.08</p></td></tr><tr style="height:24.45pt;"><td colspan="6" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">In relation to each granting of stock options:</p></td></tr><tr style="height:38.55pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">d) Grant Date</p></td><td style="vertical-align:middle;width:15.3%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/03/2017</p></td><td style="vertical-align:middle;width:16.16%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/02/2018</p></td><td style="vertical-align:middle;width:15.73%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2019</p></td><td style="vertical-align:middle;width:15.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2020</p></td><td style="vertical-align:middle;width:14.86%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2021</p></td></tr><tr style="height:38.55pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) Number of options granted</p></td><td style="vertical-align:middle;width:15.3%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">141,088</p></td><td style="vertical-align:middle;width:16.16%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">92,476</p></td><td style="vertical-align:middle;width:15.73%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">98,082</p></td><td style="vertical-align:middle;width:15.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">113,349</p></td><td style="vertical-align:middle;width:14.86%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">71,999</p></td></tr><tr style="height:77.85pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Deadline for the options to become exercisable</p></td><td style="vertical-align:middle;width:15.3%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/03/2020</p></td><td style="vertical-align:middle;width:16.16%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/02/2021</p></td><td style="vertical-align:middle;width:15.73%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2022</p></td><td style="vertical-align:middle;width:15.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2023</p></td><td style="vertical-align:middle;width:14.86%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2024</p></td></tr><tr style="height:77.85pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">g) Maximum period for exercising the options</p></td><td style="vertical-align:middle;width:15.3%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/03/2022</p></td><td style="vertical-align:middle;width:16.16%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/02/2023</p></td><td style="vertical-align:middle;width:15.73%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2024</p></td><td style="vertical-align:middle;width:15.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2025</p></td><td style="vertical-align:middle;width:14.86%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2026</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;table-layout:auto;width:99.83%;" align="center"><tr style="height:38.55pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">h) Restriction period for the transfer of shares</p></td><td colspan="5" style="vertical-align:middle;width:77.46%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:38.55pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">i) Fair value of the options on the grant date</p></td><td style="vertical-align:middle;width:15.3%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 10.42</p></td><td style="vertical-align:middle;width:16.16%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 16.42</p></td><td style="vertical-align:middle;width:15.73%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 34.17</p></td><td style="vertical-align:middle;width:15.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 38.50</p></td><td style="vertical-align:middle;width:14.86%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 64.12</p></td></tr><tr style="height:38.55pt;"><td style="vertical-align:middle;width:22.53%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">j) Multiplication of the number of shares granted by the fair value of the options on the grant date</p></td><td style="vertical-align:middle;width:15.3%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">1,470,136.96</p></td><td style="vertical-align:middle;width:16.16%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">1,518,455.92</p></td><td style="vertical-align:middle;width:15.73%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">3,351,461.94</p></td><td style="vertical-align:middle;width:15.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">4,363,936.5</p></td><td style="vertical-align:middle;width:14.86%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">4,616,575.88</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:3.5pt;padding-right:3.5pt;width:98.23%;" align="center"><tr style="height:19.85pt;"><td style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:27.79%;background:#203764;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3.5pt 0pt 3pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td colspan="4" style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:72.2%;background:#203764;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3.5pt 0pt 3.5pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:right;margin:0pt 17.85pt 0pt 0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2020</b></p></td></tr><tr style="height:13.9pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td colspan="4" style="vertical-align:middle;width:72.2%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:13.9pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total number of members</p></td><td colspan="4" style="vertical-align:middle;white-space:nowrap;width:72.2%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">8.00</p></td></tr><tr style="height:25.05pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of paid members</p></td><td colspan="4" style="vertical-align:middle;white-space:nowrap;width:72.2%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:13.9pt;"><td colspan="5" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">In relation to each granting of stock options:</p></td></tr><tr style="height:13.9pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">d) Grant Date</p></td><td style="vertical-align:middle;white-space:nowrap;width:17.9%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/03/2017</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/02/2018</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2019</p></td><td style="vertical-align:middle;white-space:nowrap;width:16.97%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2020</p></td></tr><tr style="height:25.05pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) Number of options granted</p></td><td style="vertical-align:middle;white-space:nowrap;width:17.9%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">187,942</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">123,561</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">113,969</p></td><td style="vertical-align:middle;white-space:nowrap;width:16.97%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">113,349</p></td></tr><tr style="height:37.4pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Deadline for the options to become exercisable</p></td><td style="vertical-align:middle;width:17.9%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/03/2020</p></td><td style="vertical-align:middle;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/02/2021</p></td><td style="vertical-align:middle;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2022</p></td><td style="vertical-align:middle;width:16.97%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2023</p></td></tr><tr style="height:37.4pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">g) Maximum period for exercising the options</p></td><td style="vertical-align:middle;width:17.9%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/03/2022</p></td><td style="vertical-align:middle;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/02/2023</p></td><td style="vertical-align:middle;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2024</p></td><td style="vertical-align:middle;width:16.97%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2025</p></td></tr><tr style="height:25.05pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">h) Restriction period for the transfer of shares</p></td><td colspan="4" style="vertical-align:middle;white-space:nowrap;width:72.2%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:25.05pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">i) Fair value of the options on the grant date</p></td><td style="vertical-align:middle;white-space:nowrap;width:17.9%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 12.14</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 18.07</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 34.17</p></td><td style="vertical-align:middle;white-space:nowrap;width:16.97%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 38.50</p></td></tr><tr style="height:25.05pt;"><td style="vertical-align:middle;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">j) Multiplication of the number of shares granted </p></td><td style="vertical-align:middle;white-space:nowrap;width:17.9%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">2,281,615.88</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">2,232,747.27</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">3,894,320.73</p></td><td style="vertical-align:middle;white-space:nowrap;width:16.97%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">4,363,936.5</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:3.5pt;padding-right:3.5pt;width:98.23%;" align="center"><tr><td style="vertical-align:top;width:27.79%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">by the fair value of the options on the grant date</p></td><td style="vertical-align:middle;white-space:nowrap;width:17.9%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:18.66%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:16.97%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;vertical-align:sub;">8.7 &#8211; Outstanding options (Stock Options)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The information from SAR Plan are presented in the following tables.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no stock option grant plans available to the Board of Directors or Fiscal Council. Only the Statutory Executive Board of Officers is covered by this plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.0058784485%;table-layout:auto;width:100.01%;" align="center"><tr style="height:25.5pt;"><td style="color:#ffffff;vertical-align:bottom;width:52.32%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td colspan="2" style="color:#ffffff;vertical-align:bottom;width:47.67%;background:#203965;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:15pt;"><td colspan="3" style="vertical-align:middle;width:100%;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">In relation to options not yet exercisable</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     i. The amount</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">330,916</p></td></tr><tr style="height:42.75pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     ii. Date on which they will become exercisable</font></p></td><td style="vertical-align:middle;width:14.15%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">The amount</u><br> 145,568<br> 71,999</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">113,349</p></td><td style="vertical-align:middle;width:33.52%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Date:</u><br> 04/01/2025<br> 04/01/2024</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2023</p></td></tr><tr style="height:80.25pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     iii. Maximum period for exercising the options</font></p></td><td style="vertical-align:middle;width:14.15%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">The amount</u><br>145,568<br> 71,999<br> 113,349</p></td><td style="vertical-align:middle;width:33.52%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Date:</u><br><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"> </u>04/01/2027<br> 04/01/2026<br> 04/01/2025</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     iv. Restriction period for the transfer of shares</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Not applicable for SAR</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     v. Weighted average exercise price</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 10.58</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     vi. Fair value of options on the last day of the fiscal year</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 42.19</p></td></tr><tr style="height:15pt;"><td colspan="3" style="vertical-align:middle;width:100%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) In relation to exercisable options</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     i. The amount</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">19,622</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     i. Maximum period for exercising the options</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">04/01/2024</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     ii. Restriction period for the transfer of shares</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     iii. Weighted average exercise price</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 8.56</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="white-space:pre-wrap;">     iv. Fair value of options on the last day of the fiscal year</font></p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 43.07</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:52.32%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Fair value of total options on the last day of the fiscal year</p></td><td colspan="2" style="vertical-align:middle;width:47.67%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 845,129.84</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;vertical-align:sub;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;vertical-align:sub;">8.8 - Exercised options (Stock Options)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The information from SAR Plan are presented in the following tables.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no stock option grant plans available to the Board of Directors or Fiscal Council. Only the Statutory Executive Board of Officers is covered by this plan.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:12pt;font-style:italic;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;table-layout:auto;width:99.83%;" align="center"><tr style="height:19.5pt;"><td style="color:#ffffff;vertical-align:middle;width:59.89%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:40.1%;background:#203965;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory executive board</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">5.00</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">d) Number of shares</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">78,460</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) Weighted average exercise price </p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 8.56</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Weighted average market price of the shares related to the exercised options</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 47.71</p></td></tr><tr style="height:38.25pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">g) Multiplication of the total exercised options by the difference between the weighted average exercise price and the weighted average market price of the shares related to the exercised options</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">3,071,709.00</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;table-layout:auto;width:99.83%;" align="center"><tr style="height:19.5pt;"><td style="color:#ffffff;vertical-align:middle;width:59.89%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 5.4pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:40.1%;background:#203965;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 5.4pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory executive board</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.08</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">6.08</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">d) Number of shares</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">145,642</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) Weighted average exercise price </p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 3.69</p></td></tr><tr style="height:38.25pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Weighted average market price of the shares related to the exercised options</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 56.72</p></td></tr><tr style="height:38.25pt;"><td style="vertical-align:middle;width:59.89%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">g) Multiplication of the total exercised options by the difference between the weighted average exercise price and the weighted average market price of the shares related to the exercised options</p></td><td style="vertical-align:middle;width:40.1%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 7,723,800.66</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:99.89%;" align="center"><tr style="height:15.85pt;"><td style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:59.95%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">SAR PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:40.04%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2020</b></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:99.89%;" align="center"><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:59.95%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.04%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:59.95%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.04%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">8.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:59.95%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.04%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:59.95%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">d) Number of shares</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.04%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">87,922</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:59.95%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">e) Weighted average exercise price</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.04%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 2.66</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:59.95%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">f) Average market price of the shares related to the exercised options</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.04%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 43.14</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.95%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">g) Multiplication of the total exercised options by the difference between the weighted average exercise price and the weighted average market price of the shares related to the exercised options</p></td><td style="vertical-align:middle;white-space:nowrap;width:40.04%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 3,559,082.56</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;vertical-align:sub;">8.9 - Share-based compensation to be delivered to the beneficiaries (Shares)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The information about the Phantom Shares Plan and the Restricted Performance Shares Plan are presented in the tables below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no share plans available to the Fiscal Council. Only the Board of Directors and the Statutory Executive Board of Officers are covered by these plans.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There may be variation in the number of shares/options granted when comparing tables of consecutive years due to the change in the number of Statutory Officers from one year to the other.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Phantom Shares Plan </u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr style="height:10.5pt;"><td colspan="2" style="color:#ffffff;vertical-align:bottom;width:48.16%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:51.83%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Forecast ending 12/31/2023</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;width:77.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="2" style="vertical-align:middle;width:77.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="2" style="vertical-align:middle;width:77.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:22%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries</p></td><td colspan="2" style="vertical-align:middle;width:77.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Does not apply for Phantom Shares</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr style="height:10.5pt;"><td colspan="2" style="color:#ffffff;vertical-align:bottom;width:49.11%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:50.88%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:23.27%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;width:76.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board </p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:23.27%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="2" style="vertical-align:middle;width:76.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:23.27%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="2" style="vertical-align:middle;width:76.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:23.27%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries</p></td><td colspan="2" style="vertical-align:middle;width:76.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Not applicable for Phantom Shares</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-size:12pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-size:12pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:104.95%;"><tr style="height:21.15pt;"><td colspan="2" style="color:#ffffff;vertical-align:bottom;width:38.62%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:bottom;width:14.01%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:bottom;width:47.36%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:36.05pt;"><td style="vertical-align:middle;width:24.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="3" style="vertical-align:middle;width:75.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board </p></td></tr><tr style="height:36.05pt;"><td style="vertical-align:middle;width:24.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="3" style="vertical-align:middle;width:75.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.08</p></td></tr><tr style="height:36.05pt;"><td style="vertical-align:middle;width:24.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="3" style="vertical-align:middle;width:75.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.08</p></td></tr><tr style="height:50.95pt;"><td style="vertical-align:middle;width:24.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries </p></td><td colspan="3" style="vertical-align:middle;width:75.49%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Not applicable for Phantom Shares</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-2.569378%;padding-left:3.5pt;padding-right:3.5pt;width:105.13%;" align="center"><tr style="height:13.75pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:53.2%;background:#203764;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:46.79%;background:#203764;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">&#160;Fiscal year ending on 12/31/2020</b></p></td></tr><tr style="height:26.75pt;"><td style="vertical-align:middle;width:24.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:10pt;margin:0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;width:75.45%;border-bottom:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:26.75pt;"><td style="vertical-align:middle;width:24.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:75.45%;border-bottom:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8.00</p></td></tr><tr style="height:26.75pt;"><td style="vertical-align:middle;width:24.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:75.45%;border-bottom:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:41.3pt;"><td style="vertical-align:middle;width:24.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:10pt;margin:0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries </p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:75.45%;border-bottom:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">&#160;Not applicable for Phantom Shares</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="text-decoration-line:underline;text-decoration-style:solid;vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Restricted Performance Shares Plan</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="text-decoration-line:underline;text-decoration-style:solid;vertical-align:sub;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:normal;width:44.44%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.55%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Forecast ending 12/31/2023</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Board of Directors</p></td></tr><tr style="height:10.8pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.00</p></td></tr><tr style="height:10.7pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.00</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00%</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:normal;width:44.44%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.55%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Forecast ending 12/31/2023</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:10.8pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:10.7pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.00</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00%</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:3.5pt;padding-right:3.5pt;width:99.88%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:44.77%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><a name="RANGE!K1"></a><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.22%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:nowrap;width:26.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:73.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:10.8pt;"><td style="vertical-align:middle;white-space:nowrap;width:26.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:73.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:10.7pt;"><td style="vertical-align:middle;white-space:nowrap;width:26.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:73.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.0</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:nowrap;width:26.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:6pt 0pt 6pt 0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries </p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:73.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00%</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:99.88%;" align="center"><tr style="height:17.1pt;"><td colspan="2" style="color:#ffffff;vertical-align:top;width:50.9%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:top;width:49.09%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:17.15pt;"><td style="vertical-align:top;width:26.45%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;width:73.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:6pt 0pt 6pt 0pt;">Statutory Executive Board</p></td></tr><tr style="height:17.1pt;"><td style="vertical-align:top;width:26.45%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;width:73.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:6pt 0pt 6pt 0pt;">7.08</p></td></tr><tr style="height:17.15pt;"><td style="vertical-align:top;width:26.45%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;width:73.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:6pt 0pt 6pt 0pt;">1</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:99.88%;" align="center"><tr style="height:25.2pt;"><td style="vertical-align:top;width:26.45%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries</p></td><td colspan="2" style="vertical-align:middle;width:73.54%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:6pt 0pt 6pt 0pt;">0.00%</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:3.5pt;padding-right:3.5pt;width:99.88%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:44.77%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.22%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2020</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:nowrap;width:26.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:73.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:nowrap;width:26.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:73.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8.0</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:nowrap;width:26.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:73.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.0</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:nowrap;width:26.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:6pt 0pt 6pt 0pt;">d) Potential dilution in case of grant of all shares to the beneficiaries</p></td><td colspan="2" style="vertical-align:middle;white-space:nowrap;width:73.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">0.00%</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;vertical-align:sub;">8.10 - Granting of shares (Shares)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The information about the Phantom Shares Plan and the Restricted Performance Shares Plan (Performance Shares) are presented in the tables below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no share plans available to the Fiscal Council. Only the Board of Directors and the Statutory Executive Board of Officers are covered by these plans.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There may be variation in the number of shares/options granted when comparing tables of consecutive years due to the change in the number of Statutory Officers from one year to the other.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="text-decoration-line:underline;text-decoration-style:solid;vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Phantom Shares Plan </u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="text-decoration-line:underline;text-decoration-style:solid;vertical-align:sub;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr style="height:10.5pt;"><td colspan="3" style="color:#ffffff;vertical-align:bottom;width:48.12%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td colspan="2" style="color:#ffffff;vertical-align:bottom;width:51.87%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Forecast ending 12/31/2023</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="4" style="vertical-align:middle;width:78.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="4" style="vertical-align:middle;width:78.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="4" style="vertical-align:middle;width:78.03%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Grant date</p></td><td style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2023 </p></td><td colspan="2" style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2023 </p></td><td style="vertical-align:middle;width:25.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/01/2023 </p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">e) Number of shares granted</p></td><td style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">49,721</p></td><td colspan="2" style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">49,721</p></td><td style="vertical-align:middle;width:25.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">734,303</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">f) Maximum period for delivering the shares</p></td><td style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2026 </p></td><td colspan="2" style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2027 </p></td><td style="vertical-align:middle;width:25.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/01/2026 </p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">g) Restriction period for the transfer of shares</p></td><td style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td colspan="2" style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td><td style="vertical-align:middle;width:25.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">h) Fair value of the shares on the grant date</p></td><td style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 67.80</p></td><td colspan="2" style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 67.80</p></td><td style="vertical-align:middle;width:25.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 67.80</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by the fair value of the </p></td><td style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3,371,083.80</p></td><td colspan="2" style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">3,371,083.80</p></td><td style="vertical-align:middle;width:25.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">49,785,743.40</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr><td style="vertical-align:top;width:21.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;">shares on the grant date </p></td><td style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td colspan="2" style="vertical-align:middle;width:26.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:25.99%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr style="height:10.5pt;"><td colspan="3" style="color:#ffffff;vertical-align:bottom;width:44.64%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td colspan="2" style="color:#ffffff;vertical-align:bottom;width:55.35%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="4" style="vertical-align:middle;width:83.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="4" style="vertical-align:middle;width:83.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="4" style="vertical-align:middle;width:83.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Grant date</p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2022 </p></td><td colspan="2" style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2022 </p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/01/2022 </p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">e) Number of shares granted</p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                              90,956 </font></p></td><td colspan="2" style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                              30,319 </font></p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                           580,000 </font></p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">f) Maximum period for delivering the shares</p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2025 </p></td><td colspan="2" style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2026 </p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/01/2025 </p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">g) Restriction period for the transfer of shares</p></td><td colspan="4" style="vertical-align:middle;width:83.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Not applicable for Phantom Shares</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">h) Fair value of the shares on the grant date</p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                                BRL 56.52 </font></p></td><td colspan="2" style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                                BRL 56.52 </font></p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                                BRL 58.62 </font></p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by the fair value of the shares on the grant date </p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                   5,140,833.12 </font></p></td><td colspan="2" style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                   1,713,629.88 </font></p></td><td style="vertical-align:middle;width:27.76%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="white-space:pre-wrap;">                                33,999,600.00 </font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-size:12pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr style="height:10.5pt;"><td colspan="4" style="color:#ffffff;vertical-align:bottom;width:42.75%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td colspan="4" style="color:#ffffff;vertical-align:bottom;width:57.24%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="7" style="vertical-align:middle;width:84.78%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="7" style="vertical-align:middle;width:84.78%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.08</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="7" style="vertical-align:middle;width:84.78%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6.08</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Grant date</p></td><td style="vertical-align:middle;width:13.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/03/2017</p></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2018</p></td><td colspan="2" style="vertical-align:middle;width:15.44%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2019</p></td><td style="vertical-align:middle;width:12.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/01/2020</p></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2021</p></td><td style="vertical-align:middle;width:15.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/01/2021</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">e) Number of shares granted</p></td><td style="vertical-align:middle;width:13.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">609,024</p></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">65,524</p></td><td colspan="2" style="vertical-align:middle;width:15.44%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">553,370</p></td><td style="vertical-align:middle;width:12.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">25,974</p></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">106,778</p></td><td style="vertical-align:middle;width:15.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">310,000</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">f) Maximum period for delivering the shares</p></td><td style="vertical-align:top;width:13.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">203,008 on 04/03/2021</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">203,008 on 04/03/2022</p></td><td style="vertical-align:top;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">32,762 on 03/01/2021</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">32,732 on 03/01/2022</p></td><td colspan="2" style="vertical-align:top;width:15.44%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">16,685 on 03/01/2022</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">16,685 on 03/01/2023</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">520,000 on 03/01/2024</p></td><td style="vertical-align:top;width:12.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">25,974 on 04/01/2023</p></td><td style="vertical-align:top;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">53,389 on 03/01/2024</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">53,389 on 03/03/2025</p></td><td style="vertical-align:top;width:15.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">155,000 on 04/01/2024</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">155,000 on 04/01/2025</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">g) Restriction period for the transfer of shares</p></td><td colspan="7" style="vertical-align:middle;width:84.78%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Not applicable for Phantom Shares</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">h) Fair value of the shares on the grant date</p></td><td style="vertical-align:middle;width:13.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 13.30</p></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 19.88</p></td><td colspan="2" style="vertical-align:middle;width:15.44%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 41.10</p></td><td style="vertical-align:middle;width:12.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 38.50</p></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 57.88</p></td><td style="vertical-align:middle;width:15.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 64.12</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by the fair value of the shares </p></td><td style="vertical-align:middle;width:13.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8,100,019.2</p></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1,302,617.12</p></td><td colspan="2" style="vertical-align:middle;width:15.44%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">22,743,507.00</p></td><td style="vertical-align:middle;width:12.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">999,999.00</p></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">6,180,310.64</p></td><td style="vertical-align:middle;width:15.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">19,877,200.00</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr><td style="vertical-align:top;width:15.21%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;">on the grant date </p></td><td style="vertical-align:middle;width:13.06%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td colspan="2" style="vertical-align:middle;width:15.44%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:12.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:14.17%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:15.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr style="height:10.5pt;"><td colspan="4" style="color:#ffffff;vertical-align:bottom;width:46.5%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td colspan="4" style="color:#ffffff;vertical-align:bottom;width:53.49%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2020</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">a) Body</p></td><td colspan="7" style="vertical-align:middle;width:84.05%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">b) Total number of members</p></td><td colspan="7" style="vertical-align:middle;width:84.05%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8.00</p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">c) Number of paid members</p></td><td colspan="7" style="vertical-align:middle;width:84.05%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">d) Grant date</p></td><td style="vertical-align:middle;width:13.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2016</p></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/03/2017</p></td><td colspan="2" style="vertical-align:middle;width:14.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2018</p></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2019</p></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">04/01/2020</p></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">03/01/2016</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">e) Number of shares granted</p></td><td style="vertical-align:middle;width:13.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">36,606</p></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">913,536</p></td><td colspan="2" style="vertical-align:middle;width:14.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">87,974</p></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">564,446</p></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">25,974</p></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">36,606</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">f) Maximum period for delivering the shares</p></td><td style="vertical-align:top;width:13.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">18,303 on 03/01/2020</p></td><td style="vertical-align:top;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">304,512 on 04/03/2020</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">304,512 on 04/03/2021</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">304,512 on 04/03/2022</p></td><td colspan="2" style="vertical-align:top;width:14.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">43,987 on 03/01/2021</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">43,987 on 03/01/2022</p></td><td style="vertical-align:top;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">22,223 on 03/01/2022</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">22,223 on 03/01/2023</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">520,000 on 03/01/2024</p></td><td style="vertical-align:top;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">25,974 on 04/01/2023</p></td><td style="vertical-align:top;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">18,303 on 03/01/2020</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">g) Restriction period for the transfer of shares</p></td><td colspan="7" style="vertical-align:middle;width:84.05%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Not applicable for Phantom Shares</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">h) Fair value of the shares on the grant date</p></td><td style="vertical-align:middle;width:13.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL16.93</p></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL13.30</p></td><td colspan="2" style="vertical-align:middle;width:14.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL19.88</p></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL41.10</p></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL38.50</p></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL16.93</p></td></tr><tr style="height:48.75pt;"><td style="vertical-align:middle;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by </p></td><td style="vertical-align:middle;width:13.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">619,739.58</p></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">12,150,028.8</p></td><td colspan="2" style="vertical-align:middle;width:14.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1,748,923.12</p></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">23,198,730.6</p></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">999,999.00</p></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">619,739.58</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:100%;"><tr><td style="vertical-align:top;width:15.94%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;">the fair value of the shares on the grant date </p></td><td style="vertical-align:middle;width:13.2%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td colspan="2" style="vertical-align:middle;width:14.83%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:14.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td><td style="vertical-align:middle;width:13.19%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="vertical-align:sub;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Restricted Performance Shares Plan </u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="text-decoration-line:underline;text-decoration-style:solid;vertical-align:sub;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:normal;width:44.44%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.55%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Forecast ending 12/31/2023</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Board of Directors</p></td></tr><tr style="height:10.8pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">9.00</p></td></tr><tr style="height:10.7pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.00</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">d) Grant date</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/02/2023 </p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">e) Number of shares granted</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">161,355</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">f) Maximum period for delivering the shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/02/2026</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">g) Restriction period for the transfer of shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">h) Fair value of the shares on the grant date&#185;</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 49.58</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by the fair value of the shares on the grant date </p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8,000,000.00</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt 0pt 6pt 7.1pt;">&#185; As it is a plan settled in equity instruments, the fair value is calculated at grant and is not recalculated afterwards</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:normal;width:44.44%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.55%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Forecast ending 12/31/2023</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:10.8pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:10.7pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.00</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">d) Grant date</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/02/2023 </p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">e) Number of shares granted</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">101,164</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">f) Maximum period for delivering the shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/02/2026</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">g) Restriction period for the transfer of shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">h) Fair value of the shares on the grant date&#185;</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 52.00</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by the fair value of the shares on the grant date </p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5,260,528.00</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt 0pt 6pt 7.1pt;">&#185; As it is a plan settled in equity instruments, the fair value is calculated at grant and is not recalculated afterwards</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:normal;width:44.44%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.55%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:10.8pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:10.7pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.00</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">d) Grant date</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/02/2022</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">e) Number of shares granted</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">108,010</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">f) Maximum period for delivering the shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/02/2025</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">g) Restriction period for the transfer of shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">N/A</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">h) Fair value of the shares on the grant date&#185;</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 53.81</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by the fair value of the shares on the grant date </p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">5,811,773.00</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt 0pt 6pt 7.1pt;">&#185; As it is a plan settled in equity instruments, the fair value is calculated at grant and is not recalculated afterwards</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:normal;width:44.44%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.55%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:10.8pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">7.08</p></td></tr><tr style="height:10.7pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.00</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">d) Grant date</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/02/2020</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">e) Number of shares granted</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">106,601</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">f) Maximum period for delivering the shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Not applicable</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">g) Restriction period for the transfer of shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">36 months</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">h) Fair value of the shares on the grant date&#185;</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 51.70</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by the fair value of the shares on the grant date </p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL5,511,271.70 </p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt 0pt 6pt 7.1pt;">&#185; As it is a plan settled in equity instruments, the fair value is calculated at grant and is not recalculated afterwards</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:15pt;"><td colspan="2" style="color:#ffffff;vertical-align:middle;white-space:normal;width:44.44%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:55.55%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2020</b></p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">a) Body</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-1.240593%;padding-left:3.5pt;padding-right:3.5pt;table-layout:auto;width:102.48%;" align="center"><tr style="height:10.8pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">b) Total Number of Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">8.0</p></td></tr><tr style="height:10.7pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">c) Number of Paid Members</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">1.0</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">d) Grant date</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">01/02/2020</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">e) Number of shares granted</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">106,601</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">f) Maximum period for delivering the shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Not applicable</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">g) Restriction period for the transfer of shares</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">36 months</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">h) Fair value of the shares on the grant date&#185;</p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 51.70</p></td></tr><tr style="height:28.2pt;"><td style="vertical-align:middle;white-space:normal;width:25.92%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:6pt 0pt 6pt 0pt;">i) Multiplication of the number of shares granted by the fair value of the shares on the grant date </p></td><td colspan="2" style="vertical-align:middle;white-space:normal;width:74.07%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 3.25pt 0pt 3.25pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">BRL 5,511,271.70</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;text-align:justify;margin:0pt 0pt 6pt 7.1pt;">&#185; As it is a plan settled in equity instruments, the fair value is calculated at grant and is not recalculated afterwards</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;vertical-align:sub;">8.11 - Shares delivered (Shares)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1.15pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1.15pt 0pt 0pt;">The information about the Phantom Shares Plan and the Restricted Performance Shares Plan are presented in the tables below.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1.15pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no share plans available to the Fiscal Council. Only the Board of Directors and the Statutory Executive Board of Officers are covered by these plans.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1.15pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Phantom Shares Plan</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:99.83%;"><tr style="height:18pt;"><td style="color:#ffffff;vertical-align:middle;width:56.18%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:43.81%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:18.75pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory executive board</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:17.25pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">6.00</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">d) Number of shares</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">512,455</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) Weighted average acquisition price</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 0.00</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Weighted average market price of the acquired shares</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 28.74</p></td></tr><tr style="height:25.5pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">g) Multiplication of the total shares acquired by the difference between the weighted average acquisition price and the weighted average market price of the acquired shares</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 14,727,406.84</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:99.83%;"><tr style="height:18pt;"><td style="color:#ffffff;vertical-align:middle;width:56.18%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:43.81%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:18.75pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory executive board</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.08</p></td></tr><tr style="height:17.25pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">6.08</p></td></tr><tr style="height:15pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">d) Number of shares</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">495,770</p></td></tr><tr style="height:25.5pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">e) Weighted average acquisition price</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 0.00</p></td></tr><tr style="height:25.5pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">f) Weighted average market price of the acquired shares</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 60.44</p></td></tr><tr style="height:38.25pt;"><td style="vertical-align:middle;width:56.18%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">g) Multiplication of the total shares acquired by the difference between the weighted average acquisition price and the weighted average market price of the acquired shares</p></td><td style="vertical-align:middle;width:43.81%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 29,964,338.80</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt -14.2pt;"><font style="font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:99.62%;"><tr style="height:15.85pt;"><td style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:57.7%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">PHANTOM SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;white-space:nowrap;width:42.29%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2020</b></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:99.62%;"><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:57.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;white-space:nowrap;width:42.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:57.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;white-space:nowrap;width:42.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">8.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:57.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;white-space:nowrap;width:42.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:57.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">d) Number of shares</p></td><td style="vertical-align:middle;white-space:nowrap;width:42.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">322,815</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:57.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">e) Weighted average acquisition price</p></td><td style="vertical-align:middle;white-space:nowrap;width:42.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 0.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;white-space:nowrap;width:57.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">f) Weighted average market price of the acquired shares</p></td><td style="vertical-align:middle;white-space:nowrap;width:42.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 38.79</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:57.7%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">g) Multiplication of the total shares acquired by the difference between the weighted average acquisition price and the weighted average market price of the acquired shares</p></td><td style="vertical-align:middle;white-space:nowrap;width:42.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 12,521,993.85</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Restricted Performance Shares Plan </u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:98.23%;" align="center"><tr style="height:15.85pt;"><td style="color:#ffffff;vertical-align:middle;width:59.38%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:40.61%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2022</b></p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">1.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">d) Number of shares</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">130,435</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">e) Weighted average acquisition price</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 0.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">f) Weighted average market price of the acquired shares</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 39.10</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">g) Multiplication of the total shares acquired by the difference between the weighted average acquisition price and the weighted average market price of the acquired shares</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">BRL 5,100,000.00</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:98.23%;" align="center"><tr style="height:15.85pt;"><td style="color:#ffffff;vertical-align:middle;width:59.38%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:40.61%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2021</b></p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">7.08</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">1.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">d) Number of shares</p></td><td rowspan="4" style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">No shares were delivered in the period</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">e) Weighted average acquisition price</p></td><td style="display:none;vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">f) Weighted average market price of the acquired shares</p></td><td style="display:none;vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">g) Multiplication of the total shares acquired by the difference between the weighted average acquisition price </p></td><td style="display:none;vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:98.23%;" align="center"><tr><td style="vertical-align:top;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">and the weighted average market price of the acquired shares</p></td><td rowspan="1" style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;width:98.23%;" align="center"><tr style="height:15.85pt;"><td style="color:#ffffff;vertical-align:middle;width:59.38%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><b style="font-weight:bold;">RESTRICTED PERFORMANCE SHARES PLAN</b></p></td><td style="color:#ffffff;vertical-align:middle;width:40.61%;background:#203965;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fiscal year ending on 12/31/2020</b></p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">a) Body</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">Statutory Executive Board</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">b) Total Number of Members</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">8.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">c) Number of Paid Members</p></td><td style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">1.00</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">d) Number of shares</p></td><td rowspan="4" style="vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">No shares were delivered in the period</p></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">e) Weighted average acquisition price</p></td><td style="display:none;vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">f) Weighted average market price of the acquired shares</p></td><td style="display:none;vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr><tr style="height:15.85pt;"><td style="vertical-align:middle;width:59.38%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-indent:-0.05pt;margin:0pt;">g) Multiplication of the total shares acquired by the difference between the weighted average acquisition price and the weighted average market price of the acquired shares</p></td><td style="display:none;vertical-align:middle;width:40.61%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:28.4pt;text-indent:-28.4pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:28.4pt;text-indent:-28.4pt;margin:0pt;"><b style="font-weight:bold;">8.12. Pricing of shares/options </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The information disclosed in items 8.5 to 8.11 refers to the share-based compensation of the Company&#8217;s management bodies (Statutory Executive Board of Officers).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The explanatory notes to the Company&#8217;s quarterly results and annual results present information regarding all employees covered by the share-based compensation plans.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">For all Plans, the Company&#8217;s Common shares (SUZB3) were considered as a base asset, given that as of November 10, 2017, Class &#8220;A&#8221; Preferred shares (SUZB5) were converted to Common shares (SUZB3), as approved in the Special Meeting of Class A Preferred Shareholders and the Extraordinary Shareholders&#8217; Meeting, both held on 09/29/2017.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:34.15pt;white-space:nowrap;">&#9679;</font>Phantom Shares Plan </div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The value of Phantom Shares is given by the average of the last 90 trading sessions, weighted by volume, of the quotations of the Company&#8217;s Shares. At the end of 2022, the fair value of the Phantom Share was BRL 55.16 for the current plans.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:34.15pt;white-space:nowrap;">&#9679;</font>SAR Plan</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">To measure the fair value of the assets granted in the SAR plan, the Company used the mathematical model of approximation for options following the Monte Carlo Simulation method. This was done due to the nature of the SAR, which is similar to an option, but with cash settlement. The choice of this specific method was due to the need to simulate not only the dynamics of the value of the Company&#8217;s shares in the future, but also of its competitors, since both impact the beneficiary&#8217;s gain through the TSR comparison.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">A proportion of early exercise equal to 3 was considered for all programs. Other assumptions considered (base date of 12/31/2022 &#8211; date of recalculation of the SAR value for closing purposes):</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="left:0%;position:relative;top:4pt;width:100%;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:100%;"><tr style="height:20pt;"><td style="vertical-align:top;width:50.01%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Assumption</b></p></td><td style="vertical-align:top;width:49.98%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Considered Amount</b></p></td></tr><tr style="height:20.1pt;"><td style="vertical-align:top;width:50.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.54pt 0pt 0pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Base asset price (1)</b></p></td><td style="vertical-align:top;width:49.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:3.54pt 80.15pt 0pt 80.6pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">49.58</font></p></td></tr><tr style="height:20.25pt;"><td style="vertical-align:top;width:50.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Volatility Expectation (2)</b></p></td><td style="vertical-align:top;width:49.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 80.3pt 0pt 80.6pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">41.7% pa</font></p></td></tr><tr style="height:20pt;"><td style="vertical-align:top;width:50.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Average life expectancy of options (3)</b></p></td><td style="vertical-align:top;width:49.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 56.4pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Same as contract life</font></p></td></tr><tr style="height:20.1pt;"><td style="vertical-align:top;width:50.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Expected dividend distribution (4)</b></p></td><td style="vertical-align:top;width:49.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 80.15pt 0pt 80.6pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">6.48% pa</font></p></td></tr><tr style="height:32pt;"><td style="vertical-align:top;width:50.01%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 25.05pt 0pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Risk-free weighted average interest rate (5)</b></p></td><td style="vertical-align:top;width:49.98%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 80.3pt 0pt 80.6pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">13.04% pa</font></p></td></tr></table></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.5pt 0pt 6pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:5.75pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:22.6pt;padding:0pt;">(1)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">The base asset price was defined considering the arithmetic average of the closing price of the last 90 trading sessions of the Company&#8217;s shares on the SAR calculation date.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:5.75pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:22.6pt;padding:0pt;">(2)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Expected volatility was calculated for each exercise date, taking into account the time remaining to complete the vesting period, as well as the historical volatility of returns, using the GARCH volatility calculation model. Here we present the average of these volatilities.</font></td></tr></table></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:5.75pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:22.6pt;padding:0pt;">(3)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">The average life expectancy of the stock options was defined by the period remaining until the exercise deadline.</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:5.75pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:22.6pt;padding:0pt;">(4)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Dividend expectations were defined based on the Company&#8217;s historical earnings per share. Here we present the average expected dividend used in the calculation.</font></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:22.6pt;text-align:justify;text-indent:-22.6pt;margin:0pt -0.05pt 0pt 5.75pt;"><font style="display:inline-block;font-size:11pt;min-width:18.65pt;text-indent:0pt;white-space:nowrap;">(5)</font>The risk-free weighted average interest rate used was the pre-interest rate curve in reais (DI expectation) observed in the open market, which is the best basis for comparison with the risk-free interest rate in the Brazilian market. The rate used for each exercise date changes according to the vesting period. The value presented represents the average between each one of the grants.</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 5.95pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:5.7pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:28.4pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Restricted Performance Shares Plan </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 5.75pt;">The value of the Restricted Shares granted is given by the valu<font style="font-size:12pt;">e </font>of the share on the date they were granted.</p><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;vertical-align:sub;">8.13</b></font><b style="font-weight:bold;vertical-align:sub;">Participations held per body</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt -1pt 0pt 0pt;"><font style="margin-right:0pt;visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-9.4426155%;table-layout:auto;width:118.88%;" align="center"><tr style="height:43.85pt;"><td style="color:#ffffff;vertical-align:top;width:26.52%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:middle;width:15.41%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Board of Directors</b></p></td><td style="color:#ffffff;vertical-align:middle;width:15.41%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Board of Directors</b></p></td><td style="color:#ffffff;vertical-align:middle;width:15.41%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Board of Directors</b></p></td><td style="color:#ffffff;vertical-align:middle;width:13.62%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Executive Board</b></p></td><td style="color:#ffffff;vertical-align:middle;width:13.62%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Fiscal Council</b></p></td></tr><tr style="height:15.3pt;"><td style="color:#ffffff;vertical-align:top;width:26.52%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;"><font style="font-size:16pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="color:#ffffff;vertical-align:middle;width:15.41%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">ON</b></p></td><td style="color:#ffffff;vertical-align:middle;width:15.41%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">PNA</b></p></td><td style="color:#ffffff;vertical-align:middle;width:15.41%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">PNB</b></p></td><td style="color:#ffffff;vertical-align:middle;width:13.62%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">ON</b></p></td><td style="color:#ffffff;vertical-align:middle;width:13.62%;background:#203965;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">ON</b></p></td></tr><tr style="height:43.85pt;"><td style="vertical-align:top;width:26.52%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of shares directly held by Company<sup style="font-size:7.5pt;vertical-align:top;">1</sup></p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">101,524,159</p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:middle;width:13.62%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">4,221,690</p></td><td style="vertical-align:middle;width:13.62%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">10,203</p></td></tr><tr style="height:56.45pt;"><td style="vertical-align:top;width:26.52%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Number of shares directly held by Company&#8217;s direct or indirect controllers<sup style="font-size:7.5pt;vertical-align:top;">1</sup></p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">27,199,878</p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">24,430,508</p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">10,625,326</p></td><td style="vertical-align:middle;width:13.62%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:middle;width:13.62%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td></tr><tr style="height:43.85pt;"><td style="vertical-align:top;width:26.52%;background:#d9d9d9;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;margin:0pt;">Number of other securities convertible into shares issued by the Company</p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:middle;width:15.41%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:middle;width:13.62%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td><td style="vertical-align:middle;width:13.62%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 4.9pt 0pt 4.9pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:center;margin:0pt;">-</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:9pt;line-height:16pt;text-align:justify;margin:0pt -22.7pt 6pt 0pt;"><sup style="font-size:6.75pt;vertical-align:top;">1</sup> Shareholding position on December 31, 2022, according to Form CVM 44, considering only publicly-held holding companies, as provided for in the aforementioned CVM Resolution 44/21.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Note: None of the Company&#8217;s managers directly hold shares or quotas in subsidiaries or companies under common control with the Company. Their participation in these companies takes place only indirectly, through the shares held by them in the Company, which, in turn, holds an interest in these companies.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-style:italic;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;vertical-align:sub;">8.14 - Pension plans</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.5pt 0pt 0pt 0pt;"><font style="font-size:10.5pt;visibility:hidden;">&#8203;</font></p><div style="padding-left:0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:106.18%;"><tr style="height:32pt;"><td style="vertical-align:middle;width:26.04%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.35pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Body</b></p></td><td style="vertical-align:middle;width:16.37%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 5.6pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Board of</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.8pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Directors</b></p></td><td style="vertical-align:middle;width:21.33%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 3.2pt 0pt 3.25pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Executive Board</b><font style="font-family:'Times New Roman','Times','serif';"> </font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">of Officers</b></p></td><td style="vertical-align:middle;width:17.72%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.25pt 0pt 11.4pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:18.5%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.1pt 0pt 11.45pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Total</b></p></td></tr><tr style="height:15.9pt;"><td style="vertical-align:middle;width:26.04%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Number of members</font></p></td><td style="vertical-align:middle;width:16.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 21.45pt 0pt 21.95pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">9.33</font></p></td><td style="vertical-align:middle;width:21.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 3.05pt 0pt 3.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7.00</font></p></td><td style="vertical-align:middle;width:17.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.25pt 0pt 11.4pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">3.00</font></p></td><td style="vertical-align:middle;width:18.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.2pt 0pt 11.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">19.33</font></p></td></tr><tr style="height:32pt;"><td style="vertical-align:middle;width:26.04%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Number of paid members</font></p></td><td style="vertical-align:middle;width:16.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.5pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">0</font></p></td><td style="vertical-align:middle;width:21.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 3.05pt 0pt 3.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7.00</font></p></td><td style="vertical-align:middle;width:17.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">0</font></p></td><td style="vertical-align:middle;width:18.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.2pt 0pt 11.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7.00</font></p></td></tr><tr style="height:25.05pt;"><td style="vertical-align:middle;width:26.04%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Plan name</font></p></td><td style="vertical-align:middle;width:16.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 21.4pt 0pt 21.95pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:21.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 3.2pt 0pt 3.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Suzano Prev</font></p></td><td style="vertical-align:middle;width:17.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.35pt 0pt 11.4pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:18.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.15pt 0pt 11.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr><tr style="height:63.95pt;"><td style="vertical-align:middle;width:26.04%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Number of managers who meet the conditions to retire</font></p></td><td style="vertical-align:middle;width:16.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 21.4pt 0pt 21.95pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:21.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">2.00</font></p></td><td style="vertical-align:middle;width:17.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.35pt 0pt 11.4pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:18.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">2.00</font></p></td></tr><tr style="height:114.7pt;"><td style="vertical-align:middle;width:26.04%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Conditions for early retirement</font></p></td><td style="vertical-align:middle;width:16.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 21.4pt 0pt 21.95pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:21.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;text-indent:11.15pt;margin:0pt 8.05pt 0pt 8.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Suzano Prev: Be at least 55 years old, at least 3</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 1.2pt 0pt 1.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">years at Suzano Prev and terminate the employment contract with the Company.</font></p></td><td style="vertical-align:middle;width:17.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.35pt 0pt 11.4pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:18.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.15pt 0pt 11.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr><tr style="height:144.1pt;"><td style="vertical-align:middle;width:26.04%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0.85pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Updated value of contributions accumulated in the pension plan until the end of the last fiscal year, discounting the portion related to contributions made directly by the managers (in BRL)</font></p></td><td style="vertical-align:middle;width:16.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 21.4pt 0pt 21.95pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:21.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 3.2pt 0pt 3.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">4,889,000.78</font></p></td><td style="vertical-align:middle;width:17.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.35pt 0pt 11.4pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:18.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.2pt 0pt 11.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">4,889,000.78</font></p></td></tr><tr style="height:106.3pt;"><td style="vertical-align:middle;width:26.04%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0.85pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Total accumulated value of contributions made during the last fiscal year, discounting the portion related to contributions made directly by the managers (in BRL)</font></p></td><td style="vertical-align:middle;width:16.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 21.4pt 0pt 21.95pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:21.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 3.2pt 0pt 3.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">548,472.12</font></p></td><td style="vertical-align:middle;width:17.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.35pt 0pt 11.4pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:18.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.2pt 0pt 11.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">548,472.12</font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:14.29%;padding-right:14.29%;position:relative;"><div style="margin-top:30pt;min-height:35.45pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="padding-left:0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:106.18%;"><tr style="height:105.6pt;"><td style="vertical-align:middle;width:26.04%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0.85pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Whether there is a possibility of early redemption and what are the conditions</font></p></td><td style="vertical-align:middle;width:16.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 21.4pt 0pt 21.95pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:21.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 3.2pt 0pt 3.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Suzano Prev: Redemption may occur in whole or in part at any time, respecting the minimum grace period between redemptions of 60 days, as provided for in current legislation.</font></p></td><td style="vertical-align:middle;width:17.72%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.35pt 0pt 11.4pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">N/A</font></p></td><td style="vertical-align:middle;width:18.5%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 11.2pt 0pt 11.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.29%;margin-right:14.29%;margin-top:30pt;page-break-after:always;width:71.43%;border-width:0;"><div style="max-width:100%;padding-left:8.42%;padding-right:8.42%;position:relative;"><div style="margin-top:30pt;min-height:49.6pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;vertical-align:sub;">8.15. Maximum, minimum and average compensation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="padding-left:28.85pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:86.13%;"><tr style="height:16.5pt;"><td rowspan="2" style="vertical-align:top;width:12.66%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td colspan="3" style="vertical-align:top;width:30.92%;background:#dcdcdc;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Statutory Executive Board</b><font style="font-family:'Times New Roman','Times','serif';"> </font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">of Officers</b></p></td><td colspan="3" style="vertical-align:top;width:28.2%;background:#dcdcdc;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt -0.35pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Board of Directors</b></p></td><td colspan="3" style="vertical-align:top;width:28.2%;background:#dcdcdc;border-bottom:1.5pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Council</b></p></td></tr><tr style="height:16pt;"><td style="display:none;vertical-align:middle;width:12.66%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:9.77%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2022</b></p></td><td style="vertical-align:middle;width:10.57%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.45pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2021</b></p></td><td style="vertical-align:middle;width:10.57%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.6pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2020</b></p></td><td style="vertical-align:middle;width:9.39%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.45pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2022</b></p></td><td style="vertical-align:middle;width:9.4%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2021</b></p></td><td style="vertical-align:middle;width:9.4%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.4pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2020</b></p></td><td style="vertical-align:middle;width:9.4%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.5pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2022</b></p></td><td style="vertical-align:middle;width:9.4%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.4pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2021</b></p></td><td style="vertical-align:middle;width:9.4%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;text-align:center;margin:2.65pt 0pt 0pt 0.5pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">12/31/2020</b></p></td></tr><tr style="height:16pt;"><td style="vertical-align:top;width:12.66%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;margin:0pt 0pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Number of members</b></p></td><td style="vertical-align:middle;width:9.77%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7.00</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7.08</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">8.00</font></p></td><td style="vertical-align:middle;width:9.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">9.33</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">10.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">9.58</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">3.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">3.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.5pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">3.00</font></p></td></tr><tr style="height:32pt;"><td style="vertical-align:top;width:12.66%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 1.8pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Number of paid members</b></p></td><td style="vertical-align:middle;width:9.77%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7.00</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7.08</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">8.00</font></p></td><td style="vertical-align:middle;width:9.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">9.33</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">10.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">9.58</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">3.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">3.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">3.00</font></p></td></tr><tr style="height:47.95pt;"><td style="vertical-align:top;width:12.66%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.49;margin:0pt 1.75pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Amount of the highest compensation</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:12.35pt;margin:0.15pt 0pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">(Reais)</b></p></td><td style="vertical-align:middle;width:9.77%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">23,840,344.33</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">22,595,979.76</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">22,112,160.86</font></p></td><td style="vertical-align:middle;width:9.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">8,247,041.76</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">8,247,041.76</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">8,247,042.26</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">395,040.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">352,800.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">317,280.00</font></p></td></tr><tr style="height:47.95pt;"><td style="vertical-align:top;width:12.66%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Amount of the lowest</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;min-height:16.0pt;margin:0pt 11.55pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">compensation (Reais)</b></p></td><td style="vertical-align:middle;width:9.77%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7,266,205.54</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">7,019,028.83</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">6,071,057.78</font></p></td><td style="vertical-align:middle;width:9.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">924,000.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">744,000.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">960,004.80</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">395,040.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">352,800.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">317,280.00</font></p></td></tr><tr style="height:48.05pt;"><td style="vertical-align:top;width:12.66%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 1.15pt 0pt 0.55pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Average amount of compensation (Reais)</b></p></td><td style="vertical-align:middle;width:9.77%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">11,276,788.65</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">12,511,386.21</font></p></td><td style="vertical-align:middle;width:10.57%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">14,241,022.26</font></p></td><td style="vertical-align:middle;width:9.39%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">2,047,231.36</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">2,015,854.14</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">1,965,928.69</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">395,040.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">352,800.00</font></p></td><td style="vertical-align:middle;width:9.4%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:2.65pt 0pt 0pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">317,280.00</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-size:11pt;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:8.42%;margin-right:8.42%;margin-top:30pt;page-break-after:always;width:83.16%;border-width:0;"><div style="max-width:100%;padding-left:8.42%;padding-right:8.42%;position:relative;"><div style="margin-top:30pt;min-height:49.6pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 38.9pt;"><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Note</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="margin-left:-42.05pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:103.18%;"><tr style="height:16.85pt;"><td colspan="2" style="vertical-align:top;width:100%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Statutory Executive Board </b><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">of Officers</b></p></td></tr><tr style="height:20.5pt;"><td style="vertical-align:middle;width:9.98%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 13.05pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">12/31/2022</b></p></td><td style="vertical-align:top;width:90.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 21.35pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The average amount of the annual compensation of each body corresponds to the division of the total amount of the annual compensation (fixed, variable and indirect benefits and charges) of each body (from item 8.2) by the number of paid members informed for the respective body (from item 8.2).&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 21.35pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the lowest individual annual compensation (fixed, variable and indirect benefits and charges) of each body was calculated with the exclusion of all members of the respective body who have held the position for less than 12 months.&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the highest individual annual compensation (fixed, variable, indirect benefits and charges) of each body was calculated without any exclusion, considering all compensation and members.&#160;</font></p></td></tr><tr style="height:67.4pt;"><td style="vertical-align:middle;width:9.98%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 13.05pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">12/31/2021</b></p></td><td style="vertical-align:top;width:90.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.1pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The average amount of the annual compensation of each body corresponds to the division of the total amount of the annual compensation (fixed, variable and indirect benefits and charges) of each body (from item 8.2) by the number of paid members informed for the respective body (from item 8.2).&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.1pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:3.34pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the lowest individual annual compensation (fixed, variable and indirect benefits and charges) of each body was calculated with the exclusion of all members of the respective body who have held the position for less than 12 months.&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:3.34pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.1pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the highest individual annual compensation (fixed, variable, indirect benefits and charges) of each body was calculated without any exclusion, considering all compensation and members.&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.1pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:8.42%;margin-right:8.42%;margin-top:30pt;page-break-after:always;width:83.16%;border-width:0;"><div style="max-width:100%;padding-left:8.42%;padding-right:8.42%;position:relative;"><div style="margin-top:30pt;min-height:49.6pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="margin-left:-42.05pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:103.18%;"><tr style="height:67.4pt;"><td style="vertical-align:middle;width:9.98%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 13.05pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">12/31/2020</b></p></td><td style="vertical-align:top;width:90.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.1pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The average amount of the annual compensation of each body corresponds to the division of the total amount of the annual compensation (fixed, variable and indirect benefits and charges) of each body (from item 8.2) by the number of paid members informed for the respective body (from item 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style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.1pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the highest individual annual compensation (fixed, variable, indirect benefits and charges) of each body was calculated without any exclusion, considering all compensation and members.&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0.1pt 6.75pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:8.42%;margin-right:8.42%;margin-top:30pt;page-break-after:always;width:83.16%;border-width:0;"><div style="max-width:100%;padding-left:3.8%;padding-right:3.68%;position:relative;"><div style="margin-top:30pt;min-height:19pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.4pt 0pt 0.05pt 0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:98.26%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:9.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:top;width:90.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New 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style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 316.05pt 0pt 316.7pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Board of Directors</b></p></td></tr><tr style="height:67.4pt;"><td style="vertical-align:middle;width:9.98%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 13.05pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">12/31/2022</b></p></td><td style="vertical-align:top;width:90.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The average amount of the annual compensation of each body corresponds to the division of the total amount of the annual compensation (fixed, variable and indirect benefits and charges) of each body (from item 8.2) by the number of paid members informed for the respective body (from item 8.2).&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the lowest individual annual compensation (fixed, variable and indirect benefits and charges) of each body was calculated with the exclusion of all members of the respective body who have held the position 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style="vertical-align:middle;width:9.98%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 13.05pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">12/31/2021</b></p></td><td style="vertical-align:top;width:90.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The average amount of the annual compensation of each body corresponds to the division of the total amount of the annual compensation (fixed, variable and indirect benefits and charges) of each body (from 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style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 13.05pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">12/31/2020</b></p></td><td style="vertical-align:top;width:90.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The average amount of the annual compensation of each body corresponds to the division of the total amount of the annual compensation (fixed, variable and indirect benefits and charges) of each body (from item 8.2) by the number of paid members informed for the respective body (from item 8.2).&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 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individual annual compensation (fixed, variable, indirect benefits and charges) of each body was calculated without any exclusion, considering all compensation and members.&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 21.35pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;margin-right:0pt;visibility:hidden;">&#8203;</font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:3.8%;margin-right:3.68%;margin-top:30pt;page-break-after:always;width:92.52%;border-width:0;"><div style="max-width:100%;padding-left:3.8%;padding-right:3.68%;position:relative;"><div style="margin-top:30pt;min-height:19pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:3.8%;margin-right:3.68%;margin-top:30pt;page-break-after:always;width:92.52%;border-width:0;"><div style="max-width:100%;padding-left:3.8%;padding-right:3.68%;position:relative;"><div style="margin-top:30pt;min-height:19pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="padding-left:6.65pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:98.26%;"><tr style="height:17pt;"><td colspan="2" style="vertical-align:top;width:100%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 315.95pt 0pt 316.7pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Fiscal Council</b></p></td></tr><tr style="height:67.4pt;"><td style="vertical-align:middle;width:9.98%;background:#dcdcdc;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 13.05pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">12/31/2022</b></p></td><td style="vertical-align:top;width:90.01%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-right:1.5pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The average amount of the annual compensation of each body corresponds to the division of the total amount of the annual compensation (fixed, variable and indirect benefits and charges) of each body (from item 8.2) by the number of paid members informed for the respective body (from item 8.2).&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the lowest individual annual compensation (fixed, variable and indirect benefits and charges) of each body was calculated with the exclusion of all members of the respective body who have held the position for less than 12 months.&#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the highest individual annual compensation (fixed, variable, indirect benefits and charges) of each body was calculated without any 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style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:justify;margin:0pt 0pt 0pt 0.45pt;"><font style="font-family:'Times New Roman','Times','serif';">The amount of the highest individual annual compensation (fixed, variable, indirect benefits and charges) of each body was calculated without any exclusion, considering all compensation and members.&#160;</font></p></td></tr></table></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:3.8%;margin-right:3.68%;margin-top:30pt;page-break-after:always;width:92.52%;border-width:0;"><div style="max-width:100%;padding-left:3.8%;padding-right:3.68%;position:relative;"><div style="margin-top:30pt;min-height:19pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt;"><font 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Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">8.16. Compensation/indemnity mechanisms</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">There are no contractual arrangements, insurance policies or other instruments that structure compensation or indemnification mechanisms for managers in the event of dismissal from office or retirement. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">143</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><b style="font-weight:bold;">8.17. Percentage of related parties in the compensation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="left:-1.81%;position:relative;top:225.45pt;width:100%;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:100%;"><tr style="height:48.05pt;"><td style="vertical-align:middle;width:21.1%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.2pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Body</b></p></td><td style="vertical-align:top;width:19.96%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15pt 0pt 15.5pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Forecast for the Fiscal Year ending on 12/31/2023</b></p></td><td style="vertical-align:middle;width:19.65%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15pt 0pt 15.5pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Year ended on 12/31/2022</b></p></td><td style="vertical-align:middle;width:19.63%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15pt 0pt 15.5pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Year ended on 12/31/2021</b></p></td><td style="vertical-align:middle;width:19.64%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.45pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Year ended on 12/31/2020</b></p></td></tr><tr style="height:31.9pt;"><td style="vertical-align:middle;width:21.1%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.2pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Statutory Executive Board </b><font style="font-family:'Times New Roman','Times','serif';"> </font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">of Officers</b></p></td><td style="vertical-align:middle;width:19.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.35pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">-</b></p></td><td style="vertical-align:middle;width:19.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:19.63%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:19.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr><tr style="height:31.9pt;"><td style="vertical-align:middle;width:21.1%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.2pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Board of Directors</b></p></td><td style="vertical-align:middle;width:19.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.15pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">50.66%</font></p></td><td style="vertical-align:middle;width:19.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.15pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">52.71%</font></p></td><td style="vertical-align:middle;width:19.63%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.15pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">49.94%</font></p></td><td style="vertical-align:middle;width:19.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.1pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">55.06%</font></p></td></tr><tr style="height:20.8pt;"><td style="vertical-align:middle;width:21.1%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.2pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:19.96%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.35pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">-</b></p></td><td style="vertical-align:middle;width:19.65%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:19.63%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:19.64%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr><tr style="height:20.7pt;"><td style="vertical-align:middle;width:21.1%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt 0pt 0pt 0.2pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">TOTAL</b></p></td><td style="vertical-align:middle;width:19.96%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.25pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">50.66%</b></p></td><td style="vertical-align:middle;width:19.65%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.25pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">52.71%</b></p></td><td style="vertical-align:middle;width:19.63%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.2pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">49.94%</b></p></td><td style="vertical-align:middle;width:19.64%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 15.05pt 0pt 15.2pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">55.06%</b></p></td></tr></table></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">144</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><b style="font-weight:bold;">8.18 - Compensation &#8211; Other functions</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The members of the Company&#8217;s bodies (Board of Directors, Committees, Executive Board of Officers and Fiscal Council) did not receive compensation in addition to the compensation related to the functions they occupy in the Company in the last 3 fiscal years, and there are no forecasts for the receipt of compensation beyond the compensation related to the functions they hold in the Company for the current fiscal year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">145</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">8.19. Recognized compensation of controlling shareholder/subsidiary</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.5pt 0pt 0pt 0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.1pt 0pt 0pt 0pt;"><u style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Forecast for the fiscal year ending on 12/31/2023</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-left:28.4pt;text-indent:-28.4pt;margin:0.05pt 0pt 0pt 5.69pt;"><font style="font-style:italic;font-weight:bold;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="margin-top:2.75pt;"></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:5.7pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:28.4pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Compensation received based on the office hold at the issuer:</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.1pt 0pt 0pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.05pt 0pt 0pt 5.75pt;">There is no compensation to be received by the Company&#8217;s Management from companies under common control with the issuer and from the issuer&#8217;s subsidiaries.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-left:5.75pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:11pt;min-width:28.4pt;white-space:nowrap;">&#9679;</font>Compensation received as a result of participation in Boards of Directors/Executive Board of the respective companies:</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.25pt 0pt 0pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="padding-left:0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:94.43%;"><tr style="height:47.95pt;"><td style="vertical-align:top;width:26.81%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.29%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;text-indent:4.65pt;margin:3.45pt 0pt 0pt 5.6pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Board of Directors (1)</b></p></td><td style="vertical-align:middle;width:18.3%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.64;text-align:center;margin:0pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Statutory Executive Board </b><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">of Officers</b></p></td><td style="vertical-align:middle;width:18.28%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:6.84pt 0.95pt 0pt 0.9pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:18.3%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:6.84pt 2.25pt 0pt 2.45pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Total</b></p></td></tr><tr style="height:34.65pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.45pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Direct and Indirect Controlling Shareholders</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0.85pt 0pt 0.9pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0pt 0pt 0.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 2.25pt 0pt 2.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr><tr style="height:24.55pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.45pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Issuer&#8217;s subsidiaries</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.1pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr><tr style="height:32pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 8.25pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Companies under common control</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0.85pt 0pt 0.9pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL1,232,459.05</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 2.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL132,000.00</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 2.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL1,364,459.05</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.5pt 0pt 0pt 0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.1pt 0pt 0pt 0pt;"><u style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fiscal year ended on 12/31/2022</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.1pt 0pt 0pt 0pt;"><font style="font-style:italic;font-weight:bold;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><div style="margin-top:2.75pt;"></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:5.7pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:28.4pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Compensation received based on the office hold at the issuer:</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.1pt 0pt 0pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.05pt 0pt 0pt 5.75pt;">There was no compensation received by the Company&#8217;s Management from companies under common control with the issuer and from the issuer&#8217;s subsidiaries.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 5pt 0pt 5.75pt;"><font style="display:inline-block;font-size:11pt;min-width:28.4pt;white-space:nowrap;">&#9679;</font>Compensation received as a result of participation in Boards of Directors/Executive Board of the respective companies:</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.25pt 0pt 0pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="padding-left:0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:94.43%;"><tr style="height:47.95pt;"><td style="vertical-align:top;width:26.81%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.29%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;text-indent:4.65pt;margin:3.45pt 0pt 0pt 5.6pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Board of Directors (1)</b></p></td><td style="vertical-align:middle;width:18.3%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.64;text-align:center;margin:0pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Statutory Executive Board </b><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">of Officers</b></p></td><td style="vertical-align:middle;width:18.28%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:6.84pt 0.95pt 0pt 0.9pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:18.3%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:6.84pt 2.25pt 0pt 2.45pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Total</b></p></td></tr><tr style="height:34.65pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.45pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Direct and Indirect Controlling Shareholders</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0.85pt 0pt 0.9pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 2,448,869.53</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0pt 0pt 0.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 2.25pt 0pt 2.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 2,448,869.53</font></p></td></tr><tr style="height:24.55pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.45pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Issuer&#8217;s subsidiaries</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.1pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr></table></div></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">146</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="padding-left:0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:94.43%;"><tr style="height:32pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 8.25pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Companies under common control</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0.85pt 0pt 0.9pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 716,666.66</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 2.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 132,000.00</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 2.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 848,666.66</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.5pt 0pt 0pt 0pt;"><font style="font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.1pt 0pt 0pt 0pt;"><u style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fiscal year ended on 12/31/2021</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.1pt 0pt 0pt 0pt;"><font style="font-style:italic;font-weight:bold;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><div style="margin-top:2.75pt;"></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:5.7pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:28.4pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Compensation received based on the office hold at the issuer:</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.1pt 0pt 0pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.05pt 0pt 0pt 5.75pt;">There was no compensation received by the Company&#8217;s Management from companies under common control with the issuer and from the issuer&#8217;s subsidiaries.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 5pt 0pt 5.75pt;"><font style="display:inline-block;font-size:11pt;min-width:28.4pt;white-space:nowrap;">&#9679;</font>Compensation received as a result of participation in Boards of Directors/Executive Board of the respective companies:</div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.25pt 0pt 0pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="padding-left:0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:94.43%;"><tr style="height:47.95pt;"><td style="vertical-align:top;width:26.81%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:18.29%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;text-indent:4.65pt;margin:3.45pt 0pt 0pt 5.6pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Board of Directors (1)</b></p></td><td style="vertical-align:middle;width:18.3%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.64;text-align:center;text-indent:5.4pt;margin:0pt 0pt 0pt 14.45pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Statutory Executive Board</b><font style="font-family:'Times New Roman','Times','serif';"> </font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">of Officers</b></p></td><td style="vertical-align:middle;width:18.28%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:6.84pt 0.95pt 0pt 0.9pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:18.3%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:6.84pt 2.25pt 0pt 2.45pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Total</b></p></td></tr><tr style="height:34.65pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.45pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Direct and Indirect Controlling Shareholders</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0.85pt 0pt 0.9pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 3,445,300.53</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0pt 0pt 0.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.19pt 2.25pt 0pt 2.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 3,445,300.53</font></p></td></tr><tr style="height:24.55pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.45pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Issuer&#8217;s subsidiaries</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.1pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.25pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr><tr style="height:32pt;"><td style="vertical-align:top;width:26.81%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 8.25pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Companies under common control</font></p></td><td style="vertical-align:middle;width:18.29%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0.85pt 0pt 0.9pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 43,200.00</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 2.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 132,000.00</font></p></td><td style="vertical-align:middle;width:18.28%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.2pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:18.3%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.25pt 0pt 2.3pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 175,200.00</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.1pt 0pt 0pt 0pt;"><u style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fiscal year ended on 12/31/2020</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0.1pt 0pt 0pt 0pt;"><font style="font-style:italic;font-weight:bold;text-decoration-line:underline;text-decoration-style:solid;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:5.7pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:28.4pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Compensation received based on the office hold at the issuer:</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 6pt 5.75pt;">There was no compensation received by the Company&#8217;s Management from companies under common control with the issuer and from the issuer&#8217;s subsidiaries.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 5.65pt 0pt 5.75pt;"><font style="display:inline-block;font-size:11pt;min-width:28.4pt;white-space:nowrap;">&#9679;</font>Compensation received as a result of participation in Boards of Directors/Executive Board of the respective companies:</div><div style="clear:left;float:left;margin-bottom:1em;margin-right:1.92%;width:94.43%;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:100%;"><tr style="height:32.5pt;"><td style="vertical-align:top;width:30.42%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:middle;width:19.59%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:3.45pt 0pt 0pt 0.35pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Board of Directors (1)</b></p></td><td style="vertical-align:middle;width:16.71%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:3.45pt 0pt 0pt 0.25pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Statutory Executive Board </b><font style="font-family:'Times New Roman','Times','serif';"> </font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">of Officers</b></p></td><td style="vertical-align:middle;width:15.89%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:3.45pt 0pt 0pt 0.35pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Fiscal Council</b></p></td><td style="vertical-align:middle;width:17.36%;background:#1e477b;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:3.45pt 0pt 0pt 0.25pt;"><b style="color:#ffffff;font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;">Total</b></p></td></tr><tr style="height:34.5pt;"><td style="vertical-align:top;width:30.42%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:16pt;margin:0pt 28.05pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Direct and Indirect Controlling Shareholders</font></p></td><td style="vertical-align:top;width:19.59%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.05pt 4.9pt 0pt 5.5pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 3,403,536.48</font></p></td><td style="vertical-align:top;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.05pt 0pt 0pt 0.5pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:top;width:15.89%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:8.05pt 0pt 0pt 0.55pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:top;width:17.36%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:8.05pt 0pt 0pt 1.45pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 3,403,536.48</font></p></td></tr></table></div></div></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">147</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="clear:left;float:left;margin-bottom:1em;margin-right:1.92%;width:94.43%;"><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;table-layout:auto;width:100%;"><tr style="height:24.55pt;"><td style="vertical-align:top;width:30.42%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.45pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Issuer&#8217;s subsidiaries</font></p></td><td style="vertical-align:top;width:19.59%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.65pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:top;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.5pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:top;width:15.89%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.55pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:top;width:17.36%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:7.75pt 0pt 0pt 0.5pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td></tr><tr style="height:32pt;"><td style="vertical-align:top;width:30.42%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:3.45pt 0pt 0pt 0.35pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">Companies under common control</font></p></td><td style="vertical-align:middle;width:19.59%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 4.9pt 0pt 5.5pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 72,000.00</font></p></td><td style="vertical-align:middle;width:16.71%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 2.8pt 0pt 3.05pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 264,000.00</font></p></td><td style="vertical-align:middle;width:15.89%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 0.55pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">-</font></p></td><td style="vertical-align:middle;width:17.36%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:center;margin:0pt 0pt 0pt 5.65pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;">BRL 336,000.00</font></p></td></tr></table></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 6pt 0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 8pt 0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">148</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><a name="_Toc67165791"></a><b style="font-weight:bold;">8.20. Other Material Information</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">All material and pertinent information on this topic was disclosed in the items above.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">149</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:8.95pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:-0.06%;position:absolute;top:-5.65pt;width:429pt;z-index:251717632;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:-0.06%;position:absolute;top:0.35pt;width:427.5pt;z-index:251719680;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:16pt;line-height:16pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">VII.</td><td style="padding:0pt;"><b style="font-family:'Calibri Light';font-size:16pt;font-style:normal;font-weight:bold;"><a name="_Toc130463277"></a></b><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Details of the Bylaws&#8217; amendments&#8217; origin and justifications, analyzing its legal and economic effects (Section 12 &#8211; CVM Resolution No. 81/22)</b></td></tr></table><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-0.05pt;width:427.5pt;z-index:251721728;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0%;position:absolute;top:5.95pt;width:429pt;z-index:251723776;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">COMPARATIVE CHART OF AMENDMENTS TO THE BYLAWS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:90.63%;"><tr><td style="vertical-align:middle;width:33.32%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Current Bylaws</b></p></td><td style="vertical-align:middle;width:33.32%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Proposed Bylaws</b></p></td><td style="vertical-align:middle;width:33.34%;background:#d9d9d9;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Amendments &#8211; Origin, Justification and Analysis of Effects</b></p></td></tr><tr><td style="vertical-align:top;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Article 5</b> &#8211; The capital stock of the Company, fully subscribed and paid-in, is of nine billion, two hundred and sixty-nine million, two hundred and eighty one thousand, four hundred and twenty four reais and sixty three cents (R$ 9,269,281,424.63), divided into one billion, three hundred and sixty one million, two hundred and sixty-three thousand, five hundred and eighty-four (1,361,263,584) common shares, all nominative and book entry type, with no par value.</p></td><td style="vertical-align:top;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">Article 5</b> &#8211; The Company&#8217;s share capital, fully subscribed and paid-in, amounts to nine billion, two hundred sixty-nine million, two hundred eighty-one thousand, four hundred twenty-four reais and sixty-three cents (BRL 9,269,281,424.63), divided into <a name="_Hlk130472020"></a>one billion, three hundred twenty-four million, one hundred seventeen thousand, six hundred and fifteen (1,324,117,615) common shares, all registered, book-entry and without par value.</p></td><td style="vertical-align:top;width:33.34%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The update of the share capital seeks to reflect the cancellation of treasury shares, without reducing the value of the share capital, approved by the Company&#8217;s Board of Directors on February 28, 2023.</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">150</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:8.95pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:-0.06%;position:absolute;top:-5.65pt;width:429pt;z-index:251725824;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="left:-0.06%;position:absolute;top:0.35pt;width:427.5pt;z-index:251727872;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri Light';font-size:16pt;line-height:16pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">VIII.</td><td style="padding:0pt;"><b style="font-family:'Calibri Light';font-size:16pt;font-style:normal;font-weight:bold;"><a name="_Toc130463278"></a></b><b style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:bold;">Highlight of the amendments made to the Bylaws and Consolidated Bylaws (Section 12 - CVM Resolution No. 81/22)</b></td></tr></table><div style="height:0pt;position:relative;width:100%;"><div style="left:0%;position:absolute;top:-0.05pt;width:427.5pt;z-index:251729920;"><div style="left:0pt;padding-bottom:0pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2003.jpg" alt="Graphic" style="width:427.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:3pt;left:0%;position:absolute;top:5.95pt;width:429pt;z-index:251731968;"><div style="height:0.75pt;left:0pt;padding-bottom:2.25pt;position:relative;width:427.5pt;"><img src="tmb-20230324xex99d2002.jpg" alt="Graphic" style="height:0.75pt;width:427.5pt;"></div></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:16pt;text-align:justify;margin:0pt;"><font style="font-size:16pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">BYLAWS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><a name="_DV_M1"></a><a name="_DV_C643"></a><b style="font-size:12pt;font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><font style="font-size:12pt;">Publicly Held Company of Authorized Capital</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><font style="font-size:12pt;">CNPJ/MF n&#176; 16.404.287/0001-55</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><font style="font-size:12pt;">NIRE n&#176; 29.300.016.331</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">BYLAWS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER I</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">NAME, HEAD OFFICE, DURATION AND PURPOSE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 1 &#8211; SUZANO S.A.</b><font style="font-size:12pt;"> (&#8220;</font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Company</u><font style="font-size:12pt;">&#8221;) is a Brazilian publicly held company with authorized capital, governed by these Bylaws and by the applicable legislation, operating in an ethically responsible manner and with respect for human rights. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Sole Paragraph &#8211;</b><font style="font-size:12pt;"> With the admission of the Company in the Novo Mercado of B3 S.A. &#8211; Brasil Bolsa, Balc&#227;o (&#8220;</font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">B3</u><font style="font-size:12pt;">&#8221;), the Company, its shareholders, including its controlling shareholders, managers and audit board members, when installed, are subject to the Novo Mercado Regulations of the B3 (&#8220;</font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Novo Mercado Rules</u><font style="font-size:12pt;">&#8221;).</font><b style="font-size:12pt;font-weight:bold;"> </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 2 &#8211; </b><font style="font-size:12pt;">The Company has its head office in the city, municipality and district of Salvador, State of Bahia, which is its legal jurisdiction. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 3 &#8211; </b><font style="font-size:12pt;">The Company shall have indeterminate duration. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 4 &#8211; </b><font style="font-size:12pt;">The objects of the Company are: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">manufacture, trade, import and export of pulp, paper and other products originated from the transformation of forest materials, including their recycling, as well as wood and products related to the printing industry; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">151</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">formation and commercial operation of homogenous forests, company-owned or owned by third parties, directly or through contracts with companies specializing in forest cultivation and management; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">provision of services, and import, export and commercial operation of assets related to the Company&#8217;s purposes; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(d)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">transportation, by itself or by third parties; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(e)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">holding interest as a partner or shareholder in any other company or project; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(f)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">operation of port terminals; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(g)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">generation and sale of electricity; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(h)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">rendering of waterborne transport services by means of cabotage and inland navigation, as well as auxiliary activities such as maritime operations and signaling; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(i)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">rendering of port operator services for the movement and storage of goods, for or deriving of waterborne transport, within the organized port area; and </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(j)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">operation of airports and landing fields. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER II</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CAPITAL STOCK AND SHARES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 5 &#8211; </b><font style="font-size:12pt;">The </font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">capital stock of the</font><font style="color:#ff0000;font-size:12pt;"> </font><font style="font-size:12pt;">Company</font><font style="color:#4472c4;font-size:12pt;">&#8217;s share capital</font><font style="font-size:12pt;">, fully subscribed and paid-in, </font><font style="color:#4472c4;font-size:12pt;">amounts to</font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">is of</font><font style="font-size:12pt;"> nine billion, two hundred </font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">and </font><font style="font-size:12pt;">sixty-nine million, two hundred </font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">and </font><font style="font-size:12pt;">eighty one thousand, four hundred </font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">and </font><font style="font-size:12pt;">twenty four reais and sixty</font><font style="color:#4472c4;font-size:12pt;">-</font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;"> </font><font style="font-size:12pt;">three cents (</font><font style="color:#4472c4;font-size:12pt;">BRL </font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">R$</font><font style="font-size:12pt;">9,269,281,424.63), divided into </font><font style="color:#4472c4;font-size:12pt;">one billion, three hundred twenty-four million, one hundred seventeen thousand, six hundred and fifteen (1,324,117,615)</font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">one billion, three hundred and sixty one million, two hundred and sixty-three thousand, five hundred and eighty-four (1,361,263,584)</font><font style="font-size:12pt;"> common shares, all </font><font style="color:#4472c4;font-size:12pt;">registered,</font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">nominative and</font><font style="font-size:12pt;"> book</font><font style="color:#4472c4;font-size:12pt;">-</font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;"> </font><font style="font-size:12pt;">entry type</font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;">,</font><font style="color:#4472c4;font-size:12pt;"> and</font><font style="font-size:12pt;"> with</font><font style="color:#4472c4;font-size:12pt;">out</font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;"> no</font><font style="font-size:12pt;"> par value. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">The registered capital may be increased without any change in the Bylaws, by decision of the Board of Directors, up to the limit of seven hundred and eighty million, one hundred and </font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">152</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">nineteen, seven hundred and twelve (780,119,712) ordinary shares, all exclusively book-entry type. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211;</b><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:12pt;">In the event of an increase in capital, pursuant to the terms of the law, the shareholders shall have the preemptive right in subscription of the shares to be issued, in proportion to the number of shares that they hold. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;">&#167; </b></font><b style="font-size:12pt;font-weight:bold;">Three</b><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;">&#8211;</b><font style="font-size:12pt;"> The Board of Directors may exclude the</font><font style="color:#ff0000;font-size:12pt;text-decoration-line:line-through;text-decoration-style:solid;"> </font><font style="font-size:12pt;">right of first refusal for existing shareholders in any issue of shares, debentures convertible into shares or warrants the placement of which is made through (i) sale on securities exchanges or by public subscription or (ii) exchange of shares, in a public offering for acquisition of control, in accordance with the legislation. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Four &#8211;</b><font style="font-size:12pt;"> In the event of capital increase by incorporation of reserves or of funds of any kind, the new shares, if issued, shall maintain the same proportions in relation to quantity of shares as those existing at the moment prior to the increase, and the rights attributed to the shares issued by the Company must be fully obeyed. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 6 &#8211; </b><font style="font-size:12pt;">Any shareholder who for any reason does not within the specified period pay in any call for capital to subscribe shares of the Company shall, for the full purposes of law, be regarded as in arrears and subject to payment of the amount subscribed with monetary adjustment, in accordance with the law, by the Market General Price Index (IGP-M, published by the FGV), plus interest of twelve percent (12%) per year and a penalty payment of ten percent (10%) on the amount of the outstanding balance of the call. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER III</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">THE SHAREHOLDERS MEETING</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 7 &#8211; </b><font style="font-size:12pt;">The Shareholders Meeting shall be convened, ordinarily, in one of the four (4) months following the ending of the business year and, extraordinarily, at any time when called by the Chairman of the Board of Directors, by a Vice-chairman of the Board of Directors, or in any of the cases provided for by law. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Sole Paragraph &#8211; </b><font style="font-size:12pt;">The Shareholders Meeting which has as a matter of its agenda the resolution over (i) the cancellation of the company&#8217;s registry as a publicly held company, or (ii) the change or the exclusion of Article 30 below, shall be called, with at least, sixty (60) days in advance. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">153</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 8 &#8211; </b><font style="font-size:12pt;">The Shareholders Meeting shall be declared to be in session by the Chairman of the Board of Directors, or by any of the Vice-Chairmen of the Board of Directors, by the Chief Executive Officer, or by the Investor Relations Officer and the shareholders shall then immediately elect the Chairman of the Meeting, who shall request one of those present to be secretary of the Meeting. The Shareholders Meeting may also be declared to be in session by an attorney-in-fact, appointed for that specific purpose by the Chairman of the Board of Directors or by the Chief Executive Officer. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER IV</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">THE MANAGEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 9 &#8211; </b><font style="font-size:12pt;">The following are the Company&#8217;s management bodies: (a) the Board of Directors: and (b) the Statutory Executive Board of Officers. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 10 &#8211; </b><font style="font-size:12pt;">The Board of Directors is a committee decision body, and representation of the Company is a private right of the Statutory Chief Executive Officers and Statutory Executive Officers. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">The term of office of the members of the Board of Directors is two (2) years, and that of the Statutory Executive Board of Officers is one (1) year, but both shall be extended until the new members appointed are sworn in. Board members will serve a unified term and re-election is allowed.</font><b style="font-size:12pt;font-weight:bold;"> </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">The investiture of the managers and members of the Audit Board , sitting and substitute members is conditional to the execution of the instrument of investiture, which shall reflect its subjection to the commitment clause referred to in Article 34 of these Bylaws.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211; </b><font style="font-size:12pt;">The positions of Chairman of the Board of Directors and Chief Executive Officer or key executive of the Company cannot be held by the same person, except in the event of a vacancy, subject to the terms of the Novo Mercado Rules. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 11 &#8211; </b><font style="font-size:12pt;">The Annual Shareholders Meeting shall, annually, determine the global compensation amount of the members of the Board of Directors and Statutory Executive Board of Officers, it being for the Board of Directors to decide on the form of distribution of the amount fixed, between its members and those of the Statutory Executive Board of Officers. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">SECTION I</b></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">154</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">THE BOARD OF DIRECTORS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 12 &#8211; </b><font style="font-size:12pt;">The Board of Directors shall be made up of between five (5) and ten (10) members, resident in or outside Brazil, elected and dismissed by the Shareholders Meeting, who shall appoint a Chairman and up to two (2) Vice-Chairmen from among them. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">Out of the members of the Board of Directors, at least, two (2) or twenty percent (20%), whichever is higher, shall be Independent Directors, as per the definition of the Novo Mercado Rules, provided that the characterization of the individuals appointed to the Board of Directors as independent board members must be approved at the shareholders&#8217; meeting which elects them. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">When, due to the calculation of the percentage set forth in the paragraph above, the result generates a fractional number, the Company shall round to the nearest greater whole number. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 13 &#8211; </b><font style="font-size:12pt;">The Board of Directors shall meet on being called by its Chairman, or any of its Vice-Chairmen or by the Chief Executive Officer, with a minimum of two (2) days&#8217; notice and indication of the agenda. Convocation may be by electronic mail. The quorum for the Board to be in session at first (1</font><sup style="font-size:9pt;vertical-align:top;">st</sup><font style="font-size:12pt;">) call is at least two-thirds (2/3) of its members, provided that at least the Chairman or one of the Vice-Chairmen of the Board of Directors shall be present, and, on second (2</font><sup style="font-size:9pt;vertical-align:top;">nd</sup><font style="font-size:12pt;">) call, the majority of its members, provided that at least the Chairman or one of the Vice-Chairmen of the Board of Directors shall be present. The decisions of the Board of Directors shall be taken by a majority vote of members present at the meeting, provided that one is the Chairman or one of the Vice-Chairmen. In the event of a tied vote, the Chairman of the Board of Directors shall have a casting vote. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211;</b><font style="font-size:12pt;"> Members of the Board of Directors may take part in meetings by telephone, videoconference or other means of communication; and to ensure effective participation and authenticity of the vote, members should, within the three (3) days following meetings, deliver to the head office, or </font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">send by e-mail</u><font style="font-size:12pt;">, documents signed by them confirming their participation and the content of their votes. This procedure may be dispensed with by the said member signing the corresponding minutes of the meeting of the Board of Directors, which must make reference to the medium by which the member stated his or her opinion. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">Any member of the Board of Directors shall have the right to be represented, through written document or through e-mail, by another member of the Board of Directors, whether for the formation of a quorum, or for voting, with the option to indicate, or not, his or her vote. This </font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">155</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">representation shall be extinguished simultaneously with the closing of the meeting of the Board of Directors. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211; </b><font style="font-size:12pt;">Similarly, votes shall be valid if made by letter, telegram or e-mail, when received by the Chairman of the Board of Directors or his substitute, up to the end of the meeting. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Four &#8211; </b><font style="font-size:12pt;">The Chairman of the Board of Directors may invite any of the members of the committees of the Board of Directors or any of the Executive Officers who are not members of the Board of Directors to attend meetings, but without the right to vote, any members of executive committees to the Board of Directors (statutory or not) or the Statutory Executive Board of Officers that not a member of the Board of Directors, and, also, any other executive of the Company, or the representative of the Company&#8217;s external auditors, or any third party who may be able to contribute opinions, information or suggestions or able to assist in the decisions of the members of the Board. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Five &#8211; </b><font style="font-size:12pt;">The Board of Directors may also appoint an honorary member, a person of recognized professional competence with a history of dedication to the Company, who may be consulted on an information basis at the meetings of the Board of Directors, under rules and conditions to be set by the Board of Directors. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 14 &#8211; </b><font style="font-size:12pt;">The following shall be the attributes of the Board of Directors: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(a)</font><font style="font-size:12pt;">to fix the general orientation of the Company&#8217;s business, subject always to the ethical values adopted by the community where it is working, especially respect for human rights and the environment; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(b)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to elect, evaluate or dismiss Statutory Executive Officers of the Company, at any time, and to set the attributions and competencies of each one of them where these are not provided by these Bylaws, as well as orient the vote of the Company, its subsidiaries or controlled companies, in the election of the managers of the subsidiaries or controlled companies or other companies in which the Company, its subsidiaries or controlled companies hold any equity interest, whenever the Company&#8217;s, its subsidiaries or controlled companies investment to which the manager will be elected represents an amount equivalent to at least five percent (5%) of the Company&#8217;s net equity, as disclosed in the Company&#8217;s Financial Statements for the most recent year-end closing; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">156</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(c)</font><font style="font-size:12pt;">to inspect the management as effected by the Statutory Executive Officers; to examine the books and papers of the Company at any time; to request information on contracts signed or to be signed, and any other actions; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(d)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to state an opinion on the management report and accounts of the Statutory Executive Board of Officers; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(e)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to appoint and dismiss the independent auditors, subject to the right of veto provided for by law; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(f)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to approve the accounting criteria and practices; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(g)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to approve the long-term global strategy to be obeyed by the Company and by the subsidiary companies, and also the long-term global strategy to be proposed for the affiliated companies; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(h)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to examine, approve, and monitor the execution of, the annual and multi-year capital expenditure and operational budgets consolidated, which shall be prepared by the Statutory Executive Board of Officers; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(i)</font><font style="font-size:12pt;">to monitor and evaluate the economic and financial performance of the Company; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(j)</font><font style="font-size:12pt;">to state opinions on any proposals or recommendations made by the Statutory Executive Board of Officers to the General Shareholders Meeting; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(k)</font><font style="font-size:12pt;">to decide on the grant, or not as the case may be, of the preemptive right of shareholders, or to reduce the period of this right, in issues of shares, debentures convertible into shares, or warrants, the placement of which is made by one of the methods referred to in article 172 of Law No.&#160;6,404/76</font><font style="font-size:12pt;"> (&#8220;</font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Corporations Law</u><font style="font-size:12pt;">&#8221;); </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">157</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(l)</font><font style="font-size:12pt;">subject to the terms of line &#8220;k&#8221; above, to decide on the issue of securities, including promissory notes, for public or private distribution, inside or outside Brazil, in accordance with the respective legislation; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(m)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to authorize initial or subsequent participation of the Company as a partner, shareholder or member of a consortium, in another company (except for wholly owned subsidiaries) or undertaking, the giving in guarantee of any interest so acquired to third parties in the Company&#8217;s transactions, or disposal in any manner or form of any shareholding or interest which is part of the Company&#8217;s assets; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(n)</font><font style="font-size:12pt;">to authorize the acquisition of shares in the Company, for the purpose of cancellation, or holding in treasury and subsequent sale; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(o)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to appoint the Investor Relations Officer; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(p)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to authorize the Statutory Executive Board of Officers, with limits of authority to be defined by a resolution approved at a meeting of the Board of Directors, the minutes of which meeting shall be duly registered with the competent Board of Trade: </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(p.1)</font><font style="font-size:12pt;">to sell, place a charge on or acquire assets related to the Company&#8217;s fixed assets and those referred in line &#8220;m&#8221; of this Article; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(p.2)</font><font style="font-size:12pt;">to give a real guarantee of any nature, or to give a chattel mortgage; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(p.3)</font><font style="font-size:12pt;">to agree asset or liability financial transactions, including those known as &#8220;vendor&#8221; transactions, in which the Company is a guarantor for its clients; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(p.4)</font><font style="font-size:12pt;">to sign any other contracts in accordance with defined limits of authority in relation to amounts; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(p.5)</font><font style="font-size:12pt;">to carry out, or order to be carried out, any acts not expressly provided for in these Bylaws, provided that such acts are legally within its competence; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">158</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(p.6)</font><font style="font-size:12pt;">to bring actions, make concessions, reach agreements or withdraw legal proceedings, procedures, measures or any other demands in Court, administrative or arbitration proceedings, and also to carry out voluntary tax offsetting, such as may result in or can result in obligations or rights on the part of the Company, or which may prejudice or can prejudice the Company&#8217;s reputation or image; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(q)</font><font style="font-size:12pt;">to decide on the establishment of a consultative council to provide advice to the members of the Board of Directors, and to set the positions, remuneration and rules for functioning of that body; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(r)</font><font style="font-size:12pt;">to create other committees to advice the Board of Directors, whenever it deems this to be desirable, subject to the terms of Article 15 below; </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(s)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to nominate people to drive sectors or areas of the Company, as nonstatutory Executive Officer, who shall report to an Statutory Executive Officer, not implying such procedure in the delegation of powers which, by law or the present Bylaws, are exclusive of Statutory Executive Officers elected, neither attributing to them, therefore, the condition of member of any statutory organ; and </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-left:28.35pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;font-size:12pt;font-weight:bold;min-width:43.65pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(t)</font><font style="font-size:12pt;">if a Committee is created to evaluate the matter hereof, after listening such committee, to define a triple list of companies specializing in economic valuation of companies for the preparation of an appraisal report of the Company&#39;s shares, in cases of tender offer (&#8220;</font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">OPA</u><font style="font-size:12pt;">&#8221;) for cancellation of registration as a publicly held company. </font></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 15 &#8211; </b><font style="font-size:12pt;">The Board of Directors may establish other advisory committees, which function is to opine over the matter of their competence, in the terms of these Bylaws and the resolutions of the Board of Directors. The recommendations of the committees shall have an exclusive opinionative character, being that the members of the committees shall not have any deliberative power or responsibility for the resolutions. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">The rules regarding composition, duties and competence of an eventual committee that comes to be created by the Board of Directors are to be defined in the specific act of creation of these committees and/or in the resolutions of the committees that follow their creation. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">The committees may have assistance from other professionals, and also an administrative support structure. The Company shall pay the remuneration of such professionals, including that </font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">159</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">of the members of the committees and the expenses of the administrative support structure. When the committees believe it to be necessary, they may also hire consultancy services from external professionals, whose fees shall be paid by the Company. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 16</b><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;">&#8211;</b><font style="font-size:12pt;"> The Chairman of the Board of Directors has the following attributions, with the assistance, in relation to the matters in lines &#8220;b&#8221;, &#8220;c&#8221; and &#8220;d&#8221; below, at his exclusive option, of the respective Committees of the Board of Directors: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to represent the Board of Directors in dealings with other parties; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to suggest to the Board of Directors the general orientation of the Company&#8217;s business to be transmitted to the Statutory Executive Board of Officers; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to prepare all the elements necessary for the practice of the acts which are within the competence of the Board of Directors; and </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(d)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to accompany and give support to the activities of the Statutory Executive Board of Officers and/or of any of its members. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 17 &#8211; </b><font style="font-size:12pt;">If the Chairman of the Board of Directors is temporarily absent, he shall be substituted by one of the Vice-Presidents of that body, and it shall be for the Chairman of the Board of Directors to indicate the substitute; and when this does not happen, it shall be for the Board of Directors to make such indication. The same criterion shall be adopted in the same cases for any other member, who shall be substituted by one of his peers. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">If a vacancy occurs on the Board of Directors, the seat may remain vacant until the next Annual Shareholders Meeting, without prejudice of a nomination of a substitute, in order to complete the current mandate, by the remaining directors in a Board of Directors Meeting, in the form of article 150 of the Corporations Law, if one is necessary to maintain the minimum number of members of that body, or if it is deemed convenient that the post should be filled. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">The substitutions provided for in this Article shall result in the exercise of the functions and of the right to vote in the meetings of the Board of Directors, but not in the remuneration and other advantages of the person substituted. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">SECTION II</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">THE STATUTORY EXECUTIVE BOARD OF OFFICERS</b></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">160</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 18 &#8211; </b><font style="font-size:12pt;">The Statutory Executive Board of Officers shall be comprised of one (1) Chief Executive Officer and between four (4) and nine (9) Statutory Executive Officers, resident and domiciled in Brazil, and of recognized technical and administrative ability, who may be shareholders, elected by the Board of Directors and able to be dismissed by it at any time, and also to be re-elected. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">The participation of Statutory Executive Officers in the meeting, by telephone, videoconference or other means of communication is allowed; and in order to ensure the effective participation and authenticity of their vote, the Statutory Executive Officers shall deliver, within three (3) days following the meetings, at the Company&#8217;s headquarters or send by e-mail, documents signed by them confirming their participation and the content of their votes, and such action shall be waived upon the signature of the corresponding minutes of the meeting of the Statutory Executive Board of Officers by said Statutory Executive Officer, which shall refer to the manner in which the Statutory Executive Officer has expressed himself. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">The area of specific activity and competence of each of the members of the Statutory Executive Board of Officers may be fixed by the Board of Directors, when not specified in these Bylaws. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211; </b><font style="font-size:12pt;">The managers are not permitted to give personal guarantees. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 19 &#8211;</b><font style="font-size:12pt;"> In the temporary absence: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">of the Chief Executive Officer, his replacement shall be designated by the Chairman of the Board of Directors, from among the members of the Board of Directors or the Statutory Executive Board of Officers; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.45pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">of any other Statutory Executive Officer, his replacement shall be designated by the Chief Executive Officer, from among the other members or from the direct subordinates of the Statutory Executive Officer who is absent or prevented, on his recommendation. In this latter case, the direct subordinate who is substituting the absent Statutory Executive Officer shall take part in all the routine activities and shall have all the duties of the said officer, including that of being present at meetings of the Statutory Executive Board of Officers to instruct on matters relating to the Statutory Executive Officer who is substituted, without, however, exercising the right to a vote of receiving the remuneration of the person substituted. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">161</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">In the event of a seat on the Statutory Executive Board of Officers becoming vacant, the Board of Directors shall meet to fill the vacant seat, if this be necessary to provide the minimum number of members of that body, or if the Board of Directors believes it to be convenient to fill the post. The term of office of the Statutory Executive Officer thus elected shall terminate simultaneously with that of his peers. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">Subject to the terms of line &#8220;b&#8221; of the head paragraph of this Article, substitutions made under this Article shall result in the substitute having the post of the person substituted as well as his or her own, including the right to vote, but excluding the right to receive the remuneration or other advantages of the person substituted. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 20 &#8211;</b><font style="font-size:12pt;"> The Statutory Executive Board of Officers shall meet on calling by the Chief Executive Officer, or by two (2) Statutory Executive Officers, with up to two (2) days&#8217; prior notice, this period being dispensed with when all of the members take part in the meeting. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">The meetings of the Statutory Executive Board of Officers shall be valid when the majority of its members are present, including the Chief Executive Officer or his substitute. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">Decisions at all meetings of the Statutory Executive Board of Officers shall be taken by the majority of the members present and recorded in minutes. In the event of a tied vote, the Chief Executive Officer shall have the casting vote. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211;</b><font style="font-size:12pt;"> The Statutory Executive Officers may meet independently of the formality of calling, when there is an urgent subject. For this meeting to be valid it is necessary that two-thirds (2/3) of the members of the Statutory Executive Board of Officers to be present or represented, and that the decision be taken unanimously </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 21 &#8211; </b><font style="font-size:12pt;">The following shall be attributions of the Statutory Executive Board of Officers: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to comply with the terms of these Bylaws, and the decisions of the General Meeting of Shareholders and of the Board of Directors, and cause them to be complied with; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to administer and manage the Company&#8217;s business in accordance with the </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;">orientation established by the Board of Directors; </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to produce monthly interim financial statements and deliver them to the Board of Directors; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">162</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(d)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to prepare the financial statements for each business period, as specified in these Bylaws, including a proposal for allocation of the profit, and submit them to the Board of Directors; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(e)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to propose to the Board of Directors the approval of the procedures referred to in Articles 27 and 28 of these Bylaws; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(f)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to prepare the annual and multi-year operations and capital expenditure budgets, including, among other matters, the forestry, industrial, commercial, financial and human resources plans, to be submitted by the Chief Executive Officer to the Board of Directors; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(g)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to decide on the transactions indicated in lines &#8220;p.1&#8221; to &#8220;p.4&#8221; and &#8220;p.6&#8221; of Article 14 of these Bylaws, subject, when their value does not exceed the amounts indicated in those sub-items, to the authorized limit amounts previously established by the Board of Directors or, if their value does exceed the amounts indicated in those sub-items, after prior submission to the Board of Directors, as well as to resolve on investments on wholly owned subsidiaries in any amounts; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(h)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to open and/or close branch offices or warehouses throughout the whole of Brazil; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(i)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to inform the Board of Directors, in the person of its Chairman, in relation to any question of singular importance for the Company&#8217;s business; and </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(j)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to seek continuous improvement in the organizational climate and results. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 22 &#8211; </b><font style="font-size:12pt;">In acts and transactions which create obligations for the Company or exonerate third parties from obligations to it, the Company shall be represented, actively and passively, by any two (2) of its Statutory Executive Officers. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">The Company may be represented by one (1) Statutory Executive Officer and one (1) person holding a power of attorney, by two (2) persons holding powers of attorney or even by one (1) person holding a power of attorney, provided that the power of attorney itself is given by two (2) Statutory Executive Officers, provided that the said power of attorney precisely and consistently specifies the powers that it gives and its period of validity. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211;</b><font style="font-size:12pt;"> No powers may be subrogated under any power of attorney, except for the purposes of court proceedings and in-court representation. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">163</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211; </b><font style="font-size:12pt;">The Company may, subject to the terms of this Article, be represented by a single Statutory Executive Officer, or by an attorney-in-fact with specific powers to practice any of the following acts: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">in acts of endorsement of checks or trade bills in favor of financial institutions, in the former case for the purposes of deposit in the Company&#8217;s account; or in the latter case for the purposes of discount and/or deposit and/or trading charge and/or collection; also signing the respective contracts, proposals and bordereaux; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">representation of the Company before any federal, state or municipal public office, or independent public authority, or public companies, public mixed-capital companies or foundations, solely for administrative purposes; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">representation of the Company before the Labor Courts, the Public Attorneys&#8217; Offices, or in dealings with labor unions, including for the purposes of appointing representatives and in matters relating to hiring, suspension and dismissal of employees and/or labor agreements including labor litigation; and </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.4pt;padding:0pt;">(d)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">representation of the Company in relation to third parties, for the purposes of representation which does not involve any type of obligation on the Company. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Four &#8211; </b><font style="font-size:12pt;">Except for purposes of the Courts, and of representation of the Company in administrative disputes and procedures relating to brands and patents, all other powers of attorney given by the Company shall have a maximum period of validity, namely up to June 30 of the year following the year in which they are given, unless there be established a shorter period, which must in any event always be included in the respective instrument. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 23 &#8211; </b><font style="font-size:12pt;">The following are attributions of the Chief Executive Officer: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">without prejudice to the terms of Article 22 above, to represent the Company actively or passively in the courts or outside the courts, especially to give personal testimony, and for this function he may designate a person to represent him, by special power of attorney; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to represent the Company in its public and private relationships at high level; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to oversee all the Company&#8217;s activities in conformity with the orientation established by the Board of Directors; </font></td></tr></table></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">164</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(d)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to submit the annual and multi-year operations and capital expenditure budgets to the approval of the Statutory Executive Board of Officers and the Board of Directors; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(e)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to submit to examination by the Statutory Executive Board of Officers the statistics, reports and statements which give evidence of the global results of the Company, including those of the affiliated and subsidiary companies; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(f)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to stimulate good relations between the Statutory Executive Board of Officers, eventual committees and the Board of Directors, based on the interests of the Company; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(g)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to keep the Board of Directors, in the person of its Chairman, constantly informed on all the facts and acts relating to the Company&#8217;s activities and investments, discussing all the material aspects with him; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(h)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">to propose to the Board of Directors: </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(h.1)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">setting of financial policy, at high level, to be followed by the Company and by the subsidiary companies, and to be proposed to the affiliated companies; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(h.2)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">decision on the long-term global strategy to be followed by the Company and by the subsidiary companies, and to be proposed to the affiliated companies; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(h.3)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">acquisition by the Company, or its subsidiaries, or affiliated companies, of an initial or subsequent interest, through shares, in any other company, and also the disposal of, or the placing of a charge on, any of these interests; and </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:35.5pt;padding:0pt;">(h.4)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">formation of joint ventures or signing of partnerships of any type, or cancellation or renewals of such partnerships, by the Company or by its subsidiaries, or affiliated companies. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Sole Paragraph </b><font style="font-size:12pt;">&#8211;</font><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:12pt;">Service of process on the Company shall be valid only when served on the Chief Executive Officer and one (1) other Statutory Executive Officer. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER V</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">THE AUDIT BOARD</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">165</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 24 &#8211; </b><font style="font-size:12pt;">The Audit Board is a non-permanent body, and shall be duly installed upon request of the shareholders, in accordance with the applicable laws. One installed, the Audit Board shall be comprised by three (3) to five (5) sitting members and an equal number of substitute members, appointed by the Shareholders Meetings, and shall be govern by the applicable laws and rulings, by these Bylaws and by its Internal Rules. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211;</b><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:12pt;">In the event of impediment or absence of any member, or a vacancy, members of the Audit Board shall be replaced by their respective substitute members. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">The sitting members of the Audit Board shall be entitled to receive a fixed compensation determined by the Shareholders Meeting, respected the minimum legal limit, and shall not be entitled to receive any additional compensation of the Company, by any company controlled by it or colligated, except if this additional compensation arises from, or is related to, services rendered to the Company prior to its appointment, or may not compromise the exercise of the duties of audit board member. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER VI</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">THE STATUTORY AUDIT COMMITTEE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 25</b><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;">&#8211; </b><font style="font-size:12pt;">The Company shall have a Statutory Audit Committee (&#8220;</font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">SAC</u><font style="font-size:12pt;">&#8221;), a collegiate body of advice and instruction directly related to the Company&#8217;s Board of Directors, with the purpose of supervising the quality and integrity of financial reports, adherence to legal, statutory and regulatory laws, adequacy of processes related to risk management and activities of internal and independent auditors. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211;</b><font style="font-size:12pt;"> The SAC shall have its own Internal Rules, approved by the Board of Directors, which shall provide in detail its duties, as well as operational procedures, in compliance with the laws in force and the rules issued by the regulatory bodies of the capital markets and stock exchanges in which the Company&#8217;s securities are listed. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">The SAC is a permanent body, and shall be comprised by, at least, three (3) and, at most, five (5) members, with a two (2) year term of office, appointed and removed by the Board of Directors, in accordance with the following criteria: (i) at least one of the members of the SAC shall be an independent member of the Company, according to the definition of the Novo Mercado Rules; (ii) at least one of the members of the SAC shall not be a member of the Board of Directors of the Company; (iii) the members of the SAC shall not integrate the Statutory Executive Board of Officers of the Company; (iv) the majority of the members shall meet the independence </font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">166</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">requirements indicated in CVM Instruction No. 308, of May 14, 1999, as amended; (v) at least one (1) member shall have a recognized experience in matters of corporate accounting, as set forth in the Internal Rules of the SAC, in the applicable legislation and in the rules issued by the regulatory bodies of the capital markets and stock exchanges in which the securities are listed of the Company; and (vi) the same member may accumulate the characteristics described in items &#8220;i&#8221; and &#8220;v&#8221; above. The SAC shall have a Coordinator, whose activities shall be defined in the Internal Rules of the SAC. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211; </b><font style="font-size:12pt;">It is prohibited the participation of the Company&#8217;s Statutory Executive Officers, its controlled, controlling, colligated or companies in common control, direct or indirectly, in the SAC. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Four &#8211; </b><font style="font-size:12pt;">The SAC shall have the following duties: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:13.55pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">evaluate the quarterly financial information, interim financial statements and financial statements; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:14.66pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">supervise the financial area; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:13.55pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">ensure that the Statutory Executive Board of Officers develops reliable internal controls; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:14.66pt;padding:0pt;">(d)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">ensure that the internal audit and the internal control areas perform its duties and that the independent auditors analyze, through its own review, the practices of the Statutory Executive Board of Officers and internal audit; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:13.55pt;padding:0pt;">(e)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">establish with the independent audit the work plan and the fee proposal; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:13.55pt;padding:0pt;">(f)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">issue opinions on the hiring, compensation and replacement of the services of the independent audit; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:13.55pt;padding:0pt;">(g)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">interact with the independent audit on matters related to the audit procedure; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:14.66pt;padding:0pt;">(h)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">evaluate, monitor and recommend to management the correction or improvement of the Company&#8217;s internal policies, including the policy of related party transactions; and </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:14.8pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:13.55pt;padding:0pt;">(i)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">evaluate and monitor the Company&#8217;s risk exposures. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">167</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Five &#8211; </b><font style="font-size:12pt;">The Board of Directors shall determine the compensation of the SAC&#8217;s members, as well as the budget to cover the costs of its function. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Six &#8211; </b><font style="font-size:12pt;">The SAC shall have the means necessary to receive and process complaints, including confidential, internal and external to the Company, regarding noncompliance with legal and regulatory provisions applicable to the Company, in addition to internal rules and codes, including specific procedures for the protection of the provider and the confidentiality of the complaint. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER VII</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">FINANCIAL STATEMENTS AND ALLOCATION OF NET PROFIT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 26 &#8211; </b><font style="font-size:12pt;">The business year shall coincide with the calendar year, thus terminating on December 31 of each year, when the financial statements shall be prepared, together with which the management bodies shall submit to the Annual Shareholders Meeting a proposal for allocation of the net profit for the fiscal year ending on December 31 of the previous year (&#8220;</font><u style="font-size:12pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Fiscal Year</u><font style="font-size:12pt;">&#8221;), subject to deductions, in the following order, in accordance with law: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:36pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">a minimum of five percent (5%) for the Legal Reserve, until it reaches twenty percent (20%) of the registered capital, provided that in the fiscal year in which the balance of the legal reserve added by the capital reserve amounts exceed thirty percent (30%) of the capital stock, it will not be mandatory to allocate part of the net income for the fiscal year to the legal reserve; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:36pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">the amounts allocated to Contingency Reserves, if constituted; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:36pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">the amount necessary for the payment of the minimum mandatory dividend which, in each Fiscal Year, shall be equivalent to the lowest amount between: (i) twentyfive percent (25%) of the annual net profit adjusted in accordance with article 202 of the Corporations Law; or (ii) ten percent (10%) of the consolidated Operational Cash Flow Generation in the respective Fiscal Year, calculated in accordance with Paragraph 3 of this Article; and </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:36pt;padding:0pt;">(d)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">the balance, if any, shall be allocated in such a way as the Statutory Executive Board of Officers propose and the Board of Directors recommends, and the Shareholders Meeting approves, pursuant to the terms of the Corporations Law, and up to ninety percent (90%) may be allocated to the Capital Increase Reserve, for the purpose of ensuring adequate operational conditions. This reserve may not exceed eighty percent (80%) of the registered capital. The remainder shall be allocated to the Special Reserve under these Bylaws for </font></td></tr></table></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">168</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:36pt;padding:0pt;"></td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">ensuring continuity of semi-annual distribution of dividends, until such reserve reaches twenty percent (20%) of the registered capital. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">As provided for in article 197 of the Corporations Law and its subparagraphs, in any business year in which the amount of obligatory dividend, calculated in accordance with article 202 of that same law and these Bylaws, exceeds the realized portion of the net profit for the business year, the Shareholders Meeting may, on a proposal by the management bodies, allocate the difference to constitution of a Future Earnings Reserve. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211;</b><font style="font-size:12pt;"> Under article 199 of the Corporations Law, the balance of profit reserves, other than the reserves for contingencies and future earnings, may not exceed the registered capital. When this limit is reached the Shareholders Meeting shall decide on the application of the excess amount, either for paying-in or for increase of the registered capital, or in distribution of dividends. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211; </b><font style="font-size:12pt;">For the purposes of calculating the amount to be paid as minimum mandatory dividends set forth in line &#8220;c&#8221; of Article 26, consolidated &#8220;Operational Cash Generation&#8221; means the result of the following formula: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><font style="font-size:12pt;">GCO = Adjusted EBITDA &#8211; Maintenance Capex</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;">Where: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;">&#8220;GCO&#8221; means the consolidated Generation of Operational Cash of the Fiscal Year, expressed in national currency. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;white-space:pre-wrap;"> </font><font style="font-size:12pt;">&#8220;EBITDA&#8221; means the net profit of the Fiscal Year of the Company expressed in national currency, before the income tax and social contribution on net income, financial income and expenses, depreciation, amortization and depletion. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;">&#8220;Adjusted EBITDA&#8221; means the EBITDA excluding items not recurrent and/or not cash and gains (losses) arising from changes in fair value of sale of the biological assets. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt 0pt 0pt 28.35pt;"><font style="font-size:12pt;">&#8220;Maintenance Capex&#8221; means the amount, expressed in national currency, of the investments in maintenance executed in the Fiscal Year. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Four &#8211; </b><font style="font-size:12pt;">Upon the resolution of the Shareholders Meeting, the Company may distribute dividends higher than the mandatory dividends set forth in line &#8220;c&#8221; of this Article. </font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">169</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Five &#8211; </b><font style="font-size:12pt;">The Shareholders Meeting may allocate a participation in the profits to the members of the Board of Directors and the Statutory Executive Board of Officers, in the circumstances and within the form and limits allowed by law. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 27 &#8211; </b><font style="font-size:12pt;">On a proposal by the Statutory Executive Board of Officers, approved by the Board of Directors, the Company may pay a compensation to the shareholders, as interest on their equity, up to the limit established by article 9 of Law No. 9,249, December 26, 1995; and in accordance with sub-paragraph 7 of that article any amounts thus disbursed may be deemed part of the obligatory dividend provided for by law and by these Bylaws. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 28 &#8211; </b><font style="font-size:12pt;">Interim financial statements shall be prepared on the last day of June of each year, and the Statutory Executive Board of Officers may: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:28.4pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">declare a semi-annual dividend, on account of the annual dividend; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:28.4pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">raise interim financial statements and declare dividends for shorter periods, on account of the annual dividend, as long as the total of the dividends paid in each half of the business year does not exceed the amount of the capital reserves; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:28.4pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">declare interim dividends on account of retained earnings or on account of profit reserves existing in the previous annual or half yearly financial statements, on account of the annual dividend. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 29 &#8211; </b><font style="font-size:12pt;">The annual financial statements shall, obligatorily, be audited by external auditors registered with the CVM. Such auditors shall be chosen and/or dismissed by the Board of Directors, subject, as the case may be, to the terms of paragraph 2 of article 142 of the Corporations Law. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER VIII</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">TENDER OFFER IN CASE OF ACQUISITION OF RELEVANT INTEREST</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 30 &#8211; </b><font style="font-size:12pt;">Any Person (as defined in paragraph one below) solely or jointly with another Bound Person(s), shareholder(s) or not of the Company, which subscribes, acquires or, in any other form, including, without limitation, by means of exchange, conversion, corporate reorganization (including, but not limiting to the merger of the Company and/or of its shares or the merger by the Company of other company or the shares thereof), or even upon acquisition of preemptive rights </font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">170</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;">and/or subscription of shares or other securities issued by the Company convertible into shares or which give the right to its subscription or purchase of shares of the Company, becomes holder, directly or indirectly, in Brazil or offshore, of Relevant Interest (as defined in paragraph one below) the Company shall, within the maximum term of thirty (30) days counting from the date of the event which results in the ownership of the Relevant Interest, launch or, in the case of a registered tender offer in the terms of CVM Rule 361/02, file a registry request before CVM of, an OPA for the acquisition of the totality of the shares issued by the Company, which shall be liquidated in the maximum term of (a) forty eight (48) days counting from the launch of the offer not subject to registration, and (b) one hundred and eighty (180) days counting from the date of registry filing, in the case of an offer subject to registration, in the terms of the law and applicable legislation, except for certain delays which do not arise from any act or omission of the offeror. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">For the purposes of these Bylaws: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:10pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:18.35pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">&quot;</font><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Outstanding Shares</u><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">&quot; means all shares issued by the Company, except those (i)&#160;owned, directly or indirectly, by the controlling shareholder or persons related thereto; (ii) in the Company&#39;s treasury; (iii) held by a company controlled by the Company; or (iv) directly or indirectly held by the managers of the Company;</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:10pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:18.35pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">&#8220;Derivatives&#8221; means any derivatives liquidated in shares issued by the Company and/or by means of payment in currency, traded on the stock exchange, organized or privately traded, that are referenced in shares or any other security issued by the Company; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:10pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:18.35pt;padding:0pt;">(c)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">&#8220;Other Rights of Corporate Nature&#8221; means (i) usufruct or trust on shares issued by the Company, (ii) options to purchase, subscribe or exchange, for any purpose, that may result in the acquisition of shares issued by the Company; or (iii) any other right that permanently or temporarily secures political or shareholder rights over shares issued by the Company, including American Depositary Receipts (ADRs); </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:10pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:18.35pt;padding:0pt;">(d)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">&#8220;Relevant Interest&#8221; means the amount of shares issued by the Company (or its legal successors) in a percentage equal to or greater than twenty percent (20%) of the total shares issued by it; </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:10pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:18.35pt;padding:0pt;">(e)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">&#8220;Person&#8221; means any person including, without limitation, any natural or legal person, investment fund, condominium, securities portfolio, universality of rights, or other form of organization, resident, domiciled or headquartered in Brazil or abroad; and</font></td></tr></table></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">171</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:10pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:18.35pt;padding:0pt;">(f)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">&#8220;Bound Person&#8221; means any Person or group of Persons bound by a voting agreement or similar agreement, or acting jointly representing the same interests. Examples of group of persons acting jointly representing the same interests are those (i) that are directly or indirectly controlled or administered by a person belonging to the group of Persons, (ii) who controls or administers, under any form, a Person belonging to the group of Persons, (iii) that is directly or indirectly controlled or administered by any Person who directly or indirectly controls or manages a person who is a member of the Group of Persons, (iv) in which the controlling shareholder of such person belonging to the Group of Persons holds, directly or indirectly, a corporate interest equal to or greater than twenty percent (20%) of the voting capital, (v) in which such Person belonging to the group of persons holds, directly or indirectly, a corporate interest equal to or greater than twenty percent (20%) of the voting capital, or (vi) holds, directly or indirectly, a corporate interest equal to or greater than twenty percent (20%) of the voting capital of the person belonging to the group of Persons. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">The OPA shall be (i) addressed to all shareholders of the Company, (ii) executed in an auction to be held at B3, (iii) launched at the price determined in accordance with the provisions of Paragraph Three below, and (iv) paid at sight, in national currency, against the acquisition in the OPA of shares issued by the Company. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211;</b><font style="font-size:12pt;"> The acquisition price of each share issued by the Company in the OPA will be the highest of the following values: </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:17.3pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:13.99pt;padding:0pt;">(a)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">Economic Value to be determined in a valuation report drafted pursuant to &#167; Thirteen and &#167; Fifteen of this article, in compliance with applicable legal and regulatory rules (&#8220;</font><u style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Economic Value</u><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">&#8221;); and </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;padding-left:28.35pt;text-align:justify;text-indent:-28.35pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:17.3pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;width:14.66pt;padding:0pt;">(b)</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;">one hundred and forty-five percent (145%) of the highest unit quotation of shares issued by the Company on any stock exchange in which the Company&#8217;s shares are traded, during the period of twenty-four (24) months prior to the OPA, duly updated by the reference rate of monetary adjustment of the Special Settlement and Custody System </font><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;">&#8211;</b><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;"> SELIC (or the index that replaces it) up to the time of payment. </font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Four &#8211; </b><font style="font-size:12pt;">The execution of the OPA mentioned in the </font><i style="font-size:12pt;font-style:italic;">caput </i><font style="font-size:12pt;">of this Article shall not exclude the possibility of a third party submitting a competing OPA, in accordance with the applicable regulations. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">172</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Five &#8211; </b><font style="font-size:12pt;">The Person shall be obliged to comply with any requests or requirements of the CVM regarding the OPA, within the maximum periods prescribed in the applicable regulations. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Six &#8211; </b><font style="font-size:12pt;">In the event that a Person does not comply with the obligations imposed by this Article, including with respect to meeting the maximum terms (i) for the execution of the OPA, or (ii) to attend to any requests or requirements of the CVM, the Company&#39;s Board of Directors shall call an Extraordinary General Meeting, in which such Person may not vote, to resolve the suspension of the exercise of the rights of the Person who has not complied with any obligation imposed by this Article, as provided in article 120 of the Corporations Law. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Seven &#8211; </b><font style="font-size:12pt;">Any person who acquires or becomes holder, in Brazil or abroad, of other rights, including (i) Other Rights of Corporate Nature of shares issued by the Company, or that may result in the acquisition of shares issued by the Company, or (ii) Derivatives (a) that give rise to the Company&#39;s shares or (b) which give the right to receive the corresponding amount of the Company&#39;s shares, which results in such Person becoming a holder of a Relevant Interest, shall be equally obliged to, in the maximum term of 30 (thirty) days as from the date of the event that resulted in the ownership of the Relevant Interest, launch or, in the case of an offer to be registered pursuant to CVM Rule 361/02, file a request for registration with the CVM of an OPA for the acquisition of the totality of the shares issued by the Company, observing the provisions of this Article 30. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Eight &#8211; </b><font style="font-size:12pt;">The obligations contained in article 254-A of the Corporations Law and Article 31 of these Bylaws exclude the fulfillment by the Person holding a Relevant Interest of the obligations contained in this Article. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Nine &#8211; </b><font style="font-size:12pt;">For the purposes of calculating the percentage of twenty percent (20%) of the total of the shares issued by the Company to calculate the Relevant Interest, as described in line &#8221;d&#8221; of Paragraph One of this Article, will not be computed the involuntary increases of equity interest resulting from cancellation of shares in treasury or redemption of shares. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Ten &#8211; </b><font style="font-size:12pt;">If CVM regulations applicable to the OPA determines the adoption of a calculation criterion for the determination of the acquisition price in the OPA of each share issued by the Company that results in a purchase price higher than that determined in the terms of Paragraph Three above, the acquisition price calculated in accordance with CVM regulations shall prevail at the time of the OPA. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="color:#222222;font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">173</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Eleven &#8211; </b><font style="font-size:12pt;">The provisions of this Article 30 do not apply to the direct and indirect controlling shareholders of the Company on September 29, 2017, and to its Successors (defined below). </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Twelve &#8211; </b><font style="font-size:12pt;">For the purposes of paragraph eleven of Article 30 above, &#8220;Successors&#8221; of the direct and indirect controlling shareholders of the Company, their respective spouses, companions, heirs, legatees, assigns and successors who, for any reason, including corporate reorganizations, become holders of the shares (and/or of the voting rights inherent to them) and/or Other Rights of Corporate Nature related to the shares held or which will be held by the direct and indirect controlling shareholders of the Company on September 29, 2017. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Thirteen - </b><font style="font-size:12pt;">The appraisal report referred to in Paragraph Three of this Article shall be prepared by a specialized institution or company, with proven experience and independent as to the decision-making power of the Company, its managers and controlling shareholder(s). Further, the valuation report shall also satisfy the requirements of paragraphs 1 and 6 of article 8 of the Corporations Law.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:15pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Fourteen -</b><font style="font-size:12pt;"> The selection of the institution or specialized company responsible for determining the Economic Value of the Company is an exclusive competence of the Shareholders&#8217; Meeting, based on the presentation, by the Board of Directors, of a triple list, provided that the respective resolution, not counting blank votes, shall be approved by a majority of votes of shareholders representing the Outstanding Shares attending such Shareholders&#8217; Meeting, which, if installed by the first call notice, shall be attended by shareholders representing at least twenty percent (20%) of the total Outstanding Shares, or, if installed by the second call notice, may count on the presence of any number of shareholders holding Outstanding Shares.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Fifteen - </b><font style="font-size:12pt;">The costs arising from the preparation of the valuation report shall be borne entirely by the offeror.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER IX</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">SALE OF CONTROL</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 31 &#8211; </b><font style="font-size:12pt;">The direct or indirect sale of control of the Company, either through a single transaction or through successive transactions, shall be contracted under the condition that the acquirer of the control undertakes to execute the tender offer of shares, which shall contemplate shares issued by the Company owned by the other shareholders, observing the conditions and terms established in the current legislation, regulations and the Novo Mercado Rules, in order to assure them equal treatment to that given to the selling shareholder. </font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">174</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER X</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">PROCEDURES FOR NEW ACQUISITIONS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 32</b><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;">&#8211;</b><font style="font-size:12pt;"> Any Person who holds Outstanding Shares of the Company, in an amount greater than five percent (5%) of the total shares issued by the Company and that wishes to carry out a new acquisition of shares issued by the Company (&#8220;New Acquisition&#8221;), shall be obliged, prior to each New Acquisition, to communicate in writing to the Company&#39;s Investor Relations Officer, at least three (3) business days prior to the date of the New Acquisition: (i) the number of Outstanding Shares that it intends to acquire; (ii) the intention to acquire; (iii) if it has an interest to appoint a member to the Board of Directors or to the Company&#8217;s Audit Board; (iv) the source of the resources that will be used for such acquisition; and (v) the strategic plans related to its investment in the Company. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; One &#8211; </b><font style="font-size:12pt;">In addition, the Person characterized in the </font><i style="font-size:12pt;font-style:italic;">caput</i><font style="font-size:12pt;"> of this Article will be obliged to make each New Acquisition in B3, being prohibited to carry out private or over-the counter market trades. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Two &#8211; </b><font style="font-size:12pt;">The Investor Relations Officer is authorized, on his own initiative or in response to a request made by the regulatory bodies, to request that the Company&#39;s shareholders or Group of Shareholders report their direct and/or indirect shareholding composition, as well as the composition of the Its direct and/or indirect control block and, if applicable, the corporate and corporate group, in fact or in law, of which they form part. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">&#167; Three &#8211; </b><font style="font-size:12pt;">In the event that the Person does not comply with the obligations imposed by this Article, the provisions of Article 30, Seventh Paragraph, above. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER XI</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">LIQUIDATION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 33</b><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;">&#8211;</b><font style="font-size:12pt;"> The Company shall enter into liquidation in the circumstances provided for by law, and the Shareholders Meeting shall determine the manner of liquidation and appoint the liquidator who shall function during the period of liquidation. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><b style="font-size:12pt;font-weight:bold;"> </b><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CHAPTER XII</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">ARBITRATION PROCEEDING</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">175</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:always;width:78.72%;border-width:0;"><div style="max-width:100%;padding-left:10.64%;padding-right:10.64%;position:relative;"><div style="margin-top:30pt;min-height:27.35pt;width:100%;"><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;"><img src="tmb-20230324xex99d2001.jpg" alt="Graphic" style="display:inline-block;height:49.42pt;left:0%;padding-bottom:0.1pt;position:relative;top:0pt;width:80.18pt;"></b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">SUZANO S.A.</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">Publicly Held Company with Authorized Capital</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">CNPJ/ME No. 16.404.287/0001-55</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">NIRE No. 29.300.016.331</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;margin:0pt;"><font style="display:inline-block;text-indent:0pt;width:64.6pt;"></font><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">Management Proposal &#8211; AESM dated as of April 26, 2023</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;text-align:justify;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">Article 34</b><font style="font-size:12pt;"> </font><b style="font-size:12pt;font-weight:bold;">&#8211;</b><font style="font-size:12pt;"> The Company, its shareholders, managers and members of the Audit Board, sitting or substitute members, if any, undertake to resolve, through arbitration, before the Market Arbitration Chamber (</font><i style="font-size:12pt;font-style:italic;">C&#226;mara de Arbitragem do Mercado</i><font style="font-size:12pt;">), pursuant to its regulation or controversies that may arise between them, relating to or arising from their condition as an issuer, shareholder, administrator and/or member of the Audit Board, in special, &#160;of the provisions contained in Law No. 6,385/76, the Corporations Law, in these Bylaws, in the rules issued by the National Monetary Council, by the Central Bank of Brazil and by the CVM, as well as in the other rules applicable to the operation of the capital markets in general, in addition to those contained in the Novo Mercado Rules, the other regulations of B3 and the Novo Mercado Listing Agreement. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:15pt;margin:0pt;"><font style="font-size:12pt;"> </font><font style="font-size:15pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:12pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:12pt;">* * * *</font></p></div><div style="clear:both;display:table;margin-bottom:30pt;min-height:27.35pt;width:100%;"><div style="display:table-cell;vertical-align:bottom;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;text-align:right;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';">176</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:10.64%;margin-right:10.64%;margin-top:30pt;page-break-after:avoid;width:78.72%;border-width:0;"></body></html>
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<!--Enhanced HTML document created with Toppan Merrill Bridge  9.14.0.96--><!--Created on: 3/24/2023 10:14:37 AM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:14.3%;padding-right:8.32%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:602.4pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-size:12pt;font-weight:bold;">Exhibit 99.3</b></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-6.8001747%;width:113.6%;" align="center"><tr><td 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style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:right;margin:0pt 0pt 0pt 152.1pt;"><font style="margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:232.5pt;left:-4.86%;position:absolute;top:10.5pt;width:463.5pt;z-index:251658240;"><div style="height:232.5pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:463.5pt;"><div style="height:calc(100% - 7.18pt);left:0pt;position:relative;text-indent:0pt;top:0pt;padding:3.59pt 7.19pt 3.59pt 7.19pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.27;text-align:center;width:100%;margin:0pt;"><font style="color:#00ffcc;font-family:'Zooja Pro';font-size:44pt;">Shareholder&#8217;s Manual</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.27;text-align:center;width:100%;margin:0pt;"><font style="color:#00b0f0;font-family:'Zooja Pro';font-size:36pt;">Annual and Extraordinary General Shareholders&#8217; Meetings</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.27;text-align:center;width:100%;margin:0pt;"><font style="color:#00b0f0;font-family:'Zooja Pro';font-size:28pt;">April 26, 2023</font></p></div></div></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt -49.65pt;"><b style="font-weight:bold;"> </b><font 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style="height:90.25pt;width:156.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:319.5pt;left:-20.86%;position:absolute;top:151.9pt;width:267pt;z-index:251664384;"><div style="height:319.5pt;left:0pt;padding-bottom:0pt;position:relative;width:267pt;"><img src="tmb-20230324xex99d3006.jpg" alt="Graphic" style="height:319.5pt;width:267pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:72.25pt;left:82.99%;max-width:17.01%;position:absolute;top:8.35pt;width:87pt;z-index:251665408;"><div style="height:72.25pt;left:0pt;padding-bottom:0pt;position:relative;width:86.5pt;"><img src="tmb-20230324xex99d3007.jpg" alt="Graphic" style="height:72.25pt;width:86.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:114pt;left:27.44%;max-width:72.56%;position:absolute;top:488.4pt;width:216.1pt;z-index:251666432;"><div style="height:114pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:216.1pt;"><div style="height:calc(100% - 7.18pt);left:0pt;position:relative;text-indent:0pt;top:0pt;padding:3.59pt 7.19pt 3.59pt 7.19pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.27;width:100%;margin:0pt;"><font style="color:#00ffcc;font-family:'Zooja Pro';font-size:44pt;">Table of Contents</font></p></div></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:158.75pt;left:80.28%;max-width:19.72%;position:absolute;top:323.9pt;width:150.5pt;z-index:251668480;"><div style="height:158.75pt;left:0pt;padding-bottom:0pt;position:relative;width:150.5pt;"><img src="tmb-20230324xex99d3009.jpg" alt="Graphic" style="height:158.75pt;width:150.5pt;"></div></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.3%;margin-right:8.32%;margin-top:30pt;page-break-after:always;width:77.38%;border-width:0;"><div style="max-width:100%;padding-left:14.3%;padding-right:8.32%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt;"><img src="tmb-20230324xex99d3001.jpg" alt="Graphic" style="display:inline-block;height:30.55pt;left:0%;padding-bottom:0pt;position:relative;top:0pt;width:34pt;"></p></div><div style="clear:both;max-width:100%;position:relative;min-height:484.2pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;text-decoration-color:#000000;">MESSAGE FROM MANAGEMENT</b></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #808080;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;text-decoration-color:#000000;">1</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;">GUIDELINES FOR ATTENDANCE</b></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #808080;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">2</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:10.8pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Date, Time and Place</font></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">2</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:10.8pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Who may attend the General Meeting</font></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">2</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:10.8pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Quorum for the holding</font></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">2</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:10.8pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">How to attend to the General Meeting</font></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">2</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:10.8pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Required documentation</font></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">2</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:22.3pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><i style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:italic;font-weight:normal;">1) Digital Platform</i></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #808080;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">2</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:22.3pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><i style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:italic;font-weight:normal;">2)</i><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;"><font style="white-space:pre-wrap;"> </font></font><i style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:italic;font-weight:normal;">Distance voting</i></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #808080;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">5</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:10.8pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Additional Clarifications</font></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #000000;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">6</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;">MATTERS TO BE RESOLVED ON</b></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #808080;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">8</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;">ANNEX I &#8211; ATTENDANCE REGISTRATION</b></font><font style="bottom:3.4541016pt;display:block;height:1em;left:0pt;position:absolute;width:100%;z-index:0;border-bottom:1.0px dotted #808080;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">9</font></font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:justify;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.27;text-align:center;margin:0pt 0pt 1.04pt 0pt;"><font style="font-weight:bold;visibility:hidden;">&#8203;</font></p><p 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style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.3%;margin-right:8.32%;margin-top:30pt;page-break-after:always;width:77.38%;border-width:0;"><div style="max-width:100%;padding-left:14.3%;padding-right:14.24%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt;"><img src="tmb-20230324xex99d3001.jpg" alt="Graphic" style="display:inline-block;height:30.55pt;left:0%;padding-bottom:0pt;position:relative;top:0pt;width:34pt;"></p></div><div style="clear:both;max-width:100%;position:relative;min-height:770.45pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:841.5pt;left:-19.85%;position:absolute;top:-71.05pt;width:60.1pt;z-index:251682816;"><div style="height:840.8pt;left:0pt;padding-bottom:0.7pt;position:relative;width:60.1pt;"><img src="tmb-20230324xex99d3022.jpg" alt="Graphic" style="height:840.8pt;width:60.1pt;"></div></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><a name="_Hlk130488805"></a><font style="color:#00ffcc;font-family:'Zooja Pro';font-size:24pt;">Message from the</font><b style="color:#808080;font-family:'Zooja Pro';font-size:16pt;font-weight:bold;"> </b><font style="color:#0072d8;font-family:'Zooja Pro';font-size:24pt;">Management</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Dear Shareholders, </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;">With the purpose of facilitating and encouraging your attendance to the Annual and Extraordinary General Shareholders&#8217; Meetings of Suzano S.A. (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">Suzano</u><font style="color:#808080;font-size:11pt;">&#8221; or &#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">Company</u><font style="color:#808080;font-size:11pt;">&#8221;), to be held cumulatively on April 26, 2023, at 10:00 a.m., exclusively digitally (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">AESM</u><font style="color:#808080;font-size:11pt;">&#8221;), we have prepared this Shareholder&#8217;s Manual (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">Manual</u><font style="color:#808080;font-size:11pt;">&#8221;).</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;">This document is in accordance with the principles and practices of good corporate governance adopted by the Company, but does not dispense with the careful and complete reading of other documents related to the AESM, especially the Management Proposal, prepared in accordance with the rules of Brazilian Securities and Exchange Commission (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">CVM</u><font style="color:#808080;font-size:11pt;white-space:pre-wrap;">&#8221;) and Law No. 6,404, of  December 15, 1976, as amended (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">Brazilian Corporation&#8217;s Law</u><font style="color:#808080;font-size:11pt;">&#8221;), and available at Suzano&#8217;s headquarters, on the Company&#8217;s investor relations website (</font><font style="color:#023160;font-size:11pt;">www.suzano.com.br/ri</font><font style="color:#808080;font-size:11pt;">, as well as on the websites of CVM (</font><font style="color:#023160;font-size:11pt;">www.cvm.gov.br</font><font style="color:#808080;font-size:11pt;">) and B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">B3</u><font style="color:#808080;font-size:11pt;">&#8221;) (</font><font style="color:#023160;font-size:11pt;">http://www.b3.com.br</font><font style="color:#808080;font-size:11pt;">) websites.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;">On behalf of the Company&#8217;s Management, we invite shareholders to attend to and express their opinions at the AESM, to be held exclusively digitally, in accordance with CVM Resolution No. 81, of March 29, 2022, as amended (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">RCVM 81/22</u><font style="color:#808080;font-size:11pt;">&#8221;). Without prejudice to the attendance to the AESM through the digital platform, as detailed below on in this Manual, the Company also strongly encourages shareholders to use alternative voting mechanisms, particularly through the use of the Distance Voting Ballot, also detailed below on in this Manual.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:206.1pt;left:-14.3%;position:absolute;top:45.85pt;width:123.85pt;z-index:251684864;"><div style="height:206.1pt;left:0pt;padding-bottom:0pt;position:relative;width:123.85pt;"><img src="tmb-20230324xex99d3023.jpg" alt="Graphic" style="height:206.1pt;width:123.85pt;"></div></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;">Suzano reiterates that it embraces its responsibility to continue supplying Brazil and the world with pulp, paper and tissue papers, essential raw materials, or critical items for the hospital, pharmaceutical, food and personal hygiene networks, among others, because it believes that it is only good for the Company if it is good for the world.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;white-space:pre-wrap;">Best regards,  </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:0pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:99.88%;"><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">David Feffer</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><font style="color:#808080;font-size:11pt;">Chairman of the Board of Directors</font></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt 5.4pt 0pt 5.4pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">Walter Schalka</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><font style="color:#808080;font-size:11pt;">Chief Executive Officer</font></p></td></tr></table></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="display:none;line-height:0pt;margin:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:0pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:12.7pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:14.3%;margin-right:14.24%;margin-top:30pt;page-break-after:always;width:71.46%;border-width:0;"><div style="max-width:100%;padding-left:6.05%;padding-right:6.05%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:49.9pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:56.05pt;left:9.84%;max-width:90.16%;position:absolute;top:-6.15pt;width:361.25pt;z-index:251685888;"><div style="height:56.05pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:361.25pt;"><div style="height:calc(100% - 7.18pt);left:0pt;position:relative;text-indent:0pt;top:0pt;padding:3.59pt 7.19pt 3.59pt 7.19pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;width:100%;margin:0pt;"><font style="color:#0072d8;font-family:'Zooja Pro';font-size:48pt;">Guidance</font></p></div></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:55.6pt;left:0pt;position:absolute;top:-16.8pt;width:96.5pt;z-index:-9223372036603087872;"><div style="height:55.6pt;left:0pt;padding-bottom:0pt;position:relative;width:96.5pt;"><img src="tmb-20230324xex99d3025.jpg" alt="Graphic" style="height:55.6pt;width:96.5pt;"></div></div></div><div style="height:0pt;position:relative;width:100%;"><div style="height:73.35pt;left:0pt;position:absolute;top:-75.8pt;width:127.5pt;z-index:-9223372036603086848;"><div style="height:73.35pt;left:0pt;padding-bottom:0pt;position:relative;width:127.25pt;"><img src="tmb-20230324xex99d3026.jpg" alt="Graphic" style="height:73.35pt;width:127.25pt;"></div></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -21.3pt;"><font style="display:inline-block;text-indent:0pt;width:21.3pt;"></font><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -21.3pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="clear:both;"></div><div style="clear:left;float:left;height:14.65pt;width:0pt;"></div><div style="clear:left;float:left;height:21.05pt;margin-left:3.25pt;margin-right:9pt;width:21.05pt;z-index:251689984;"><div style="height:21.05pt;left:0pt;padding-bottom:0pt;position:relative;width:21.05pt;"><img src="tmb-20230324xex99d3027.jpg" alt="Graphic" style="height:21.05pt;width:21.05pt;"></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -21.3pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;padding-left:0.55pt;text-indent:-0.55pt;margin:0pt 0pt 0pt -21.84pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">DATE AND TIME</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 31.2pt;"><font style="color:#808080;font-size:11pt;">Wednesday, April 26, 2023, at 10:00 a.m. (GMT-03:00)</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><div style="clear:both;"></div><div style="clear:left;float:left;height:0.85pt;width:0pt;"></div><div style="clear:left;float:left;height:27pt;margin-right:9pt;width:27pt;z-index:251691008;"><div style="height:26.3pt;left:0pt;padding-bottom:0.7pt;position:relative;width:26.3pt;"><img src="tmb-20230324xex99d3028.jpg" alt="Graphic" style="height:26.3pt;width:26.3pt;"></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;padding-left:0.55pt;text-indent:-0.55pt;margin:0pt 0pt 0pt -21.84pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">WHERE</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.25pt;"><font style="color:#808080;font-size:11pt;">Exclusively digitally, pursuant to RCVM 81/22, as detailed below.</font><b style="color:#808080;font-size:11pt;font-weight:bold;"> </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="clear:both;"></div><div style="clear:left;float:left;height:0.95pt;width:0pt;"></div><div style="clear:left;float:left;height:27.15pt;margin-right:9pt;width:27.15pt;z-index:251692032;"><div style="height:27.15pt;left:0pt;padding-bottom:0pt;position:relative;width:27.15pt;"><img src="tmb-20230324xex99d3029.jpg" alt="Graphic" style="height:27.15pt;width:27.15pt;"></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;padding-left:0.55pt;text-indent:-0.55pt;margin:0pt 0pt 0pt -21.84pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">QUORUM FOR THE HOLDING </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.4pt;"><font style="color:#808080;font-size:11pt;white-space:pre-wrap;">Quorum for the holding of ASM on first call with the attendance of at least one quarter (1/4) of the share capital, and the ESM on first call with the attendance  of at least two thirds (2/3) of the share capital.</font></p><div style="clear:both;"></div><div style="clear:left;float:left;height:15.05pt;width:0pt;"></div><div style="clear:left;float:left;height:28.65pt;margin-left:-0.65pt;margin-right:9pt;width:28.65pt;z-index:251693056;"><div style="height:28.65pt;left:0pt;padding-bottom:0pt;position:relative;width:28.65pt;"><img src="tmb-20230324xex99d3030.jpg" alt="Graphic" style="height:28.65pt;width:28.65pt;"></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;"> </b><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:italic;line-height:1.37;padding-left:0.55pt;text-indent:-0.55pt;margin:0pt 0pt 0pt -21.84pt;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-style:normal;font-weight:bold;text-decoration-color:#000000;text-decoration-line:none;">WHO CAN ATTEND TO</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">All shareholders holding ordinary shares issued by Suzano, by themselves or by legal representatives or attorneys duly appointed in accordance with the legislation n in force and in accordance with the guidelines contained in this Manual, may attend the AESM. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">Attendance of Holders of American Depositary Shares (&#8220;</b><b style="color:#808080;font-size:11pt;font-weight:bold;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">ADS</b><b style="color:#808080;font-size:11pt;font-weight:bold;">&#8221;) </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">ADS holders may attend to the AESM, in which they will be represented by The Bank of New York Mellon (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">BNY</u><font style="color:#808080;font-size:11pt;">&#8221;), as a depositary financial institution, in accordance with the terms and procedures set forth in the </font><i style="color:#808080;font-size:11pt;font-style:italic;">Deposit Agreement</i><font style="color:#808080;font-size:11pt;"> executed with Suzano. BNY will send the proxy voting cards to the ADS holders so that they can exercise their voting rights, being represented at the AESM by their representative in Brazil. </font></p><div style="clear:both;"></div><div style="clear:left;float:left;height:15.15pt;width:0pt;"></div><div style="clear:left;float:left;height:28.9pt;margin-right:9pt;width:29.2pt;z-index:251694080;"><div style="height:28.9pt;left:0pt;padding-bottom:0pt;position:relative;width:29.2pt;"><img src="tmb-20230324xex99d3031.jpg" alt="Graphic" style="height:28.9pt;width:29.2pt;"></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><i style="color:#808080;font-size:11pt;font-style:italic;"> </i><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">HOW TO ATTEND</b><font style="color:#808080;font-size:11pt;"> </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.4pt;"><font style="color:#808080;font-size:11pt;">The Company&#8217;s shareholders may attend to the AESM in two ways: </font><b style="color:#808080;font-size:11pt;font-weight:bold;">(i)</b><font style="color:#808080;font-size:11pt;white-space:pre-wrap;"> through an electronic platform  to be made available by the Company for access on the day and time of the AESM, as detailed below in this Manual; or </font><b style="color:#808080;font-size:11pt;font-weight:bold;">(ii)</b><font style="color:#808080;font-size:11pt;"> by means of distance voting, pursuant to RCVM 81/22. </font></p><div style="clear:both;"></div><div style="clear:left;float:left;height:15.05pt;width:0pt;"></div><div style="clear:left;float:left;height:28.65pt;margin-left:-0.65pt;margin-right:9pt;width:28.65pt;z-index:251695104;"><div style="height:28.65pt;left:0pt;padding-bottom:0pt;position:relative;width:28.65pt;"><img src="tmb-20230324xex99d3032.jpg" alt="Graphic" style="height:28.65pt;width:28.65pt;"></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">REQUIRED DOCUMENTATION </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;line-height:1.37;text-indent:0pt;margin:0pt 0pt 0pt 35.45pt;"><font style="display:inline-block;width:28.35pt;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;text-decoration-color:#000000;text-decoration-line:none;">(1)</b></font><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-weight:bold;text-decoration-color:#000000;text-decoration-line:none;">Digital Platform </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 36pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">For purposes of attendance through the digital platform to be accessed on the day and time of the AESM (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">Digital Platform</u><font style="color:#808080;font-size:11pt;">&#8221;), the interested shareholders should express their interest by sending an e-mail </font><b style="color:#808080;font-size:11pt;font-weight:bold;">until 10:00 a.m. of April 24, 2023</b><font style="color:#808080;font-size:11pt;"> to the e-mail adress </font><font style="font-size:11pt;">ri@suzano.com.br</font><font style="color:#808080;font-size:11pt;">, with copy to </font><font style="font-size:11pt;">societario@suzano.com.br</font><font style="color:#808080;">, </font><font style="color:#808080;font-size:11pt;">with the information contained in </font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">Annex I</u><font style="color:#808080;font-size:11pt;"> of this Manual, together with </font><b style="color:#808080;font-size:11pt;font-weight:bold;">(i)</b><font style="color:#808080;font-size:11pt;"> the proof of ownership of shares issued by the Company issued </font><b style="color:#808080;font-size:11pt;font-weight:bold;">up to four (4) working days</b><font style="color:#808080;font-size:11pt;"> before the date of the AESM, that is, from April 20, 2023, by the bookkeeping financial institution or custodian, and </font><b style="color:#808080;font-size:11pt;font-weight:bold;">(ii)</b><font style="color:#808080;font-size:11pt;"> the documents listed below (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">Attendance Registration</u><font style="color:#808080;font-size:11pt;">&#8221;): </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:63.8pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="color:#808080;display:inline-block;font-size:11pt;font-weight:bold;min-width:44.2pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(a)</font><b style="color:#808080;font-size:11pt;font-weight:bold;">Individual: </b><font style="color:#808080;font-size:11pt;">copy of valid ID with photo, or, if applicable, identity document of your attorney and the respective power of attorney.</font></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">2</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:6.05%;margin-right:6.05%;margin-top:30pt;page-break-after:always;width:87.91%;border-width:0;"><div style="max-width:100%;padding-left:6.05%;padding-right:6.05%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:63.8pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="color:#808080;display:inline-block;font-size:11pt;font-weight:bold;min-width:44.2pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(b)</font><b style="color:#808080;font-size:11pt;font-weight:bold;">Legal Entity</b><font style="color:#808080;font-size:11pt;">: copy of valid ID with photo of the legal representative and copy of the supporting documents of representation, including the instrument of mandate and copy of the constitutive act and minutes of election of managers. </font></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:63.8pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="color:#808080;display:inline-block;font-size:11pt;font-weight:bold;min-width:44.2pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(c)</font><b style="color:#808080;font-size:11pt;font-weight:bold;">Investment Fund</b><font style="color:#808080;font-size:11pt;">: copy of the valid identity document with photo of the representative and supporting documents of representation, including instrument of mandate and a copy of the regulation of the fund in force , the bylaws or corporate contract of its administrator or manager, as the case may be, and the minutes of election of the administrator&#8217;s or manager&#8217;s managers. </font></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-left:63.8pt;margin-top:0pt;text-align:justify;text-indent:0pt;"><font style="color:#808080;display:inline-block;font-size:11pt;font-weight:bold;min-width:44.2pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">(d)</font><b style="color:#808080;font-size:11pt;font-weight:bold;">Attendance by Proxy</b><font style="color:#808080;font-size:11pt;">: Attorney must have been appointed less than one (1) year in advance, and qualified as a shareholder or manager of the Company, lawyer enrolled &#160;in the Brazilian Bar Association or, also, a financial institution.</font></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 63.8pt;"><font style="color:#808080;font-size:11pt;">As provided in the Circular/Annual Letter &#8211; 2023 - CVM/SEP (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">Circular Letter</u><font style="color:#808080;font-size:11pt;">&#8221;), the legal entities may be represented in the AESM by their legal representatives or by representatives duly constituted in accordance with</font> <font style="color:#808080;font-size:11pt;">articles of incorporation of the respective company and with the rules of the Brazilian Civil Code, and in this specific case, there is no need for the representative of the shareholder of the legal entity to be a shareholder or manager of the Company or, furthermore, a lawyer. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 63.8pt;"><font style="color:#808080;font-size:11pt;">Similarly, shareholder&#8217;s investment funds, as a decision of the CVM Board in CVM Administrative Proceeding RJ-2014-3578, may be represented in the AESM by their legal representatives or representatives duly constituted by its manager or administrator, as provided for in its regulations, the bylaws or articles of association of its manager or administrator, as applicable. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">With respect to the documents indicated above, the formalities of recognition signature, authentication, notarization, consularization, apostille, or sworn translation are not required, in the latter case, by simple translating them freely into the Portuguese. It should be emphasized that documents in English and Spanish are exempted even from free translation. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">Once verified the regularity of the representation documents submitted in the terms above, the information and guidance for access to the Electronic Platform, including, but not limited to, the access password, will be sent to each shareholder (or their respective attorney, as the case may be), no later than two (2) hours prior to the start time of the AESM. </font><b style="color:#808080;font-size:11pt;font-weight:bold;">Such information and guidance will be sent exclusively to the e-mail address provided in the Attendance Registration</b><font style="color:#808080;font-size:11pt;">, regardless of the e-mail address used by the shareholder (or his/her respective attorney, as the case may be) to send the documents and information for the purpose of making such registration. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">In case of need for documentary complementation and/or additional clarification with respect to the documents sent for the purposes of the Attendance Registration, the Company will contact the shareholder (or his/her respective attorney, as the case may be) to request such documentary complementation and/or additional clarifications in a timely manner that allows the sending of information and guidelines for access to the Electronic Platform within the period mentioned above. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">Pursuant to article 6, paragraph three, of RCVM 81/22, the Company hereby clarifies that, if the shareholder (or his/her respective attorney-in-fact, as the case may be) does not express interest in attending to the AESM, in accordance with the terms set forth above, </font><b style="color:#808080;font-size:11pt;font-weight:bold;">by 10:00 a.m. on April 24, 2023,</b><font style="color:#808080;font-size:11pt;"> or if the requests for </font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">3</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:6.05%;margin-right:6.05%;margin-top:30pt;page-break-after:always;width:87.91%;border-width:0;"><div style="max-width:100%;padding-left:6.05%;padding-right:6.05%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">documentary complementation and/or additional clarifications referred to in the preceding paragraph are not complied with in order to attest the regularity of the shareholder&#8217;s representation, the shareholder will not be able to attend to the AESM through the Electronic Platform.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">The Company also emphasizes that the information and guidelines for access to the Electronic Platform, including, but not limited to, the access password, are unique and non-transferable, and the shareholder (or his/her respective attorney-in-fact, as the case may be) assumes full responsibility for the possession and confidentiality of the information and guidelines transmitted to him/her by the Company in accordance with this Manual. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">The Company also requests that, on the day of the AESM, the shareholders who so request access the Electronic Platform at least 30 minutes prior to the time scheduled for calling the meeting to order, with a view to allow the validation of access and attendance of all shareholders who use it. Access to the AESM will not be allowed after the meeting was called to order.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">In advance of the access information that will be sent by e-mail to the duly registered shareholder, as described above, the Company clarifies that access to the Electronic Platform may occur by videoconference (modality in which the shareholder</font><font style="color:#808080;font-size:11pt;"> may attend the meeting and manifest himself/herself by voice and video) and by audioconference (modality in which the attendant may only listen to the meeting and manifest himself/herself by voice). </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">To access the Electronic Platform, the following are required: </font><b style="color:#808080;font-size:11pt;font-weight:bold;">(i)</b><font style="color:#808080;font-size:11pt;"> computer with camera and audio that can be enabled; and </font><b style="color:#808080;font-size:11pt;font-weight:bold;">(ii)</b><font style="color:#808080;font-size:11pt;"> internet access connection of at least 1mb (minimum bandwidth of 700kbps). Access by videoconference should preferably be made through the Google Chrome browser. In addition, it is also recommended that the shareholder disconnect any VPN or platform that may use its camera before accessing the Electronic Platform. In case of any access difficulties, the shareholder should contact us at +55 (11) 2820-4100, followed by *0 (asterisk zero) to request support.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">Finally, the Company clarifies that it is not and will not be responsible for any operational or connection problems of the shareholder, as well as for any other problems external to the Company that may make hinder or difficult the shareholder&#8217;s attendance to the AESM through the Electronic Platform.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;line-height:1.37;text-indent:0pt;margin:0pt 0pt 0pt 35.45pt;"><font style="display:inline-block;width:28.35pt;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;text-decoration-color:#000000;text-decoration-line:none;">(2)</b></font><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-weight:bold;text-decoration-color:#000000;text-decoration-line:none;">Distance Voting </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">As provided in articles 30 </font><i style="color:#808080;font-size:11pt;font-style:italic;">et seq.</i><font style="color:#808080;font-size:11pt;"> of RCVM 81/22, the Company&#8217;s shareholders may also exercise their vote at the AESM by means of a distance vote, to be formalized in an electronic document called </font><i style="color:#808080;font-size:11pt;font-style:italic;">Distance Voting Ballot</i><font style="color:#808080;font-size:11pt;"> (&#8220;</font><u style="color:#808080;font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">DVB</u><font style="color:#808080;font-size:11pt;">&#8221;), available on the Company&#8217;s website </font><font style="color:#808080;font-size:11pt;">(</font><font style="color:#023160;font-size:11pt;">www.suzano.com.br/ri</font><font style="color:#808080;font-size:11pt;">)</font><font style="color:#808080;font-size:11pt;">, in the area of Documents delivered to the CVM - 2023 Meetings, and also on the CVM (</font><font style="color:#023160;font-size:11pt;">www.cvm.gov.br</font><font style="color:#808080;font-size:11pt;">) and B3 (</font><font style="color:#023160;font-size:11pt;">http://www.b3.com.br</font><font style="color:#808080;font-size:11pt;">) websites. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">The distance voting, using the DVB, can be exercised in three ways:</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:34.95pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">(i)</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">by means of the transmission of instructions for filling out the DVB to the respective custodian of each shareholder, in the case of shares deposited in a central depository; </font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 70.95pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:34.95pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">(ii)</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">by means of the transmission of instructions for filling out the DVB to the financial institution contracted by the Company for the provision of securities bookkeeping services, in the case of shares that are not deposited with a central depository; or </font></td></tr></table></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">4</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:6.05%;margin-right:6.05%;margin-top:30pt;page-break-after:always;width:87.91%;border-width:0;"><div style="max-width:100%;padding-left:6.05%;padding-right:6.05%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:216.45pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 70.95pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:34.95pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:36pt;padding:0pt;">(iii)</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">by sending the DVB duly filled out directly to the Company and sent by: </font><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;">(a)</b><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;"> electronic mail to the electronic addresses </font><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">ri@suzano.com.br</font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">, with copy to </font><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">societario@suzano.com.br</font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">; or </font><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;">(b)</b><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;"> postal mail to the Company&#8217;s headquarters, located in the city of Salvador, State of Bahia, at Avenida Professor Magalh&#227;es Neto, No. 1752 &#8211; 10th floor, rooms 1009, 1010 and 1011, Pituba district and ZIP Code 41810-012.</font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 34.95pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">Voting instructions must be received by the custodian, the bookkeeper, or the Company up to seven (7) days before the date of the AESM, that is, </font><b style="color:#808080;font-size:11pt;font-weight:bold;">up to and including April 19, 2023</b><font style="color:#808080;font-size:11pt;">, unless a different deadline is set by the respective custody agents or the bookkeeping agent. In case of direct sending to the Company (even by e-mail), the DVB, duly initialed and signed, shall be followed by the other documents indicated in </font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">item (1)</u><font style="color:#808080;font-size:11pt;"> above, including, but not limited to, the proof of ownership of shares issued by the Company, and the formalities of signature notarization, authentication, consularization, apostille or sworn translation of the DVB and such documents shall also be not required, in the latter case, their free translation into Portuguese will suffice. Note that documents in English and Spanish also do not require free translation. </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">After the deadline for remote voting, i.e., including April 19, 2023 (inclusive), unless a different deadline is set by the respective custody agents or the bookkeeping agent, shareholders may no longer change the voting instructions sent, except at the AESM itself, via attendance through the Digital Platform, when they may specifically request that the voting instructions sent by DVB be disregarded before the respective matter is put to the vote.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">The Company&#8217;s Management strongly encourages shareholders to make use of this voting method in particular, also giving preference to the options addressed in </font><u style="color:#808080;font-size:11pt;text-decoration-color:#808080;text-decoration-line:underline;text-decoration-style:solid;">items (i) and (ii)</u><font style="color:#808080;font-size:11pt;"> above (i.e., transmission of the DVB to the custodian or to the bookkeeping agent). Should the option adopted be to send the DVB directly to the Company, the Management again requests that the documents referred to in the previous paragraph be sent preferably by e-mail to the electronic </font><font style="font-size:11pt;">ri@suzano.com.br</font><font style="color:#808080;font-size:11pt;">, with a copy to </font><font style="font-size:11pt;">societario@suzano.com.br</font><font style="color:#808080;font-size:11pt;">.</font></p><div style="clear:both;"></div><div style="clear:left;float:left;height:15.5pt;width:0pt;"></div><div style="clear:left;float:left;height:30.55pt;margin-left:-0.65pt;margin-right:9pt;width:31.5pt;z-index:251696128;"><div style="height:30.55pt;left:0pt;padding-bottom:0pt;position:relative;width:30.8pt;"><img src="tmb-20230324xex99d3033.jpg" alt="Graphic" style="height:30.55pt;width:30.8pt;"></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:italic;line-height:1.37;text-indent:0pt;margin:0pt 0pt 0pt -0.25pt;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-style:normal;font-weight:bold;text-decoration-color:#000000;text-decoration-line:none;">FURTHER CLARIFICATIONS </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><i style="color:#808080;font-size:11pt;font-style:italic;"> </i><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-indent:35.7pt;margin:0pt 0pt 0pt -0.3pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">Voting rights </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.4pt;"><font style="color:#808080;font-size:11pt;">Each common share issued by the Company entitles to one vote in the resolutions on the agenda of the AESM. </font></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;line-height:1.37;text-align:justify;margin:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="clear:both;"></div><div style="clear:left;float:left;height:0.25pt;width:0pt;"></div><div style="clear:left;float:left;height:31.5pt;margin-left:-0.65pt;margin-right:9pt;width:30.55pt;z-index:251697152;"><div style="height:30.8pt;left:0pt;padding-bottom:0.7pt;position:relative;width:30.55pt;"><img src="tmb-20230324xex99d3034.jpg" alt="Graphic" style="height:30.8pt;width:30.55pt;"></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;padding-left:0.55pt;text-indent:-0.55pt;margin:0pt 0pt 0pt -0.85pt;"><b style="color:#808080;font-size:11pt;font-weight:bold;">CONTACT IR</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.4pt;"><font style="color:#808080;font-size:11pt;">For further information, Suzano&#8217;s Investor Relations Board is available for any further clarifications by phone (+55 11) 3503-9330 or by e-mail ri@suzano.com.br. </font><font style="color:#023160;font-size:11pt;">ri@suzano.com.br</font><font style="color:#808080;font-size:11pt;">. </font></p><div style="height:0pt;position:relative;width:100%;"><div style="height:192pt;left:-18.78%;position:absolute;top:24.45pt;width:258pt;z-index:-9223372036603077632;"><div style="height:191.7pt;left:0pt;padding-bottom:0.3pt;position:relative;width:257.35pt;"><img src="tmb-20230324xex99d3035.jpg" alt="Graphic" style="height:191.7pt;width:257.35pt;"></div></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.4pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><font style="color:#808080;font-size:11pt;white-space:pre-wrap;">*  *  *</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">5</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:6.05%;margin-right:6.05%;margin-top:30pt;page-break-after:always;width:87.91%;border-width:0;"><div style="max-width:100%;padding-left:6.05%;padding-right:6.05%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:41.25pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:35.3pt;left:10.41%;max-width:89.59%;position:absolute;top:5.95pt;width:353.1pt;z-index:251699200;"><div style="height:35.3pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:353.1pt;"><div style="height:calc(100% - 7.18pt);left:0pt;position:relative;text-indent:0pt;top:0pt;padding:3.59pt 7.19pt 3.59pt 7.19pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;text-align:center;width:100%;margin:0pt;"><font style="color:#00e5be;font-family:'Calibri','Helvetica','sans-serif';font-size:20pt;">Matters for Resolution</font></p></div></div></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;font-weight:bold;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;">Pursuant to the Call Notice published in the &#8220;Correio da Bahia&#8221; and &#8220;O Estado de S&#227;o Paulo&#8221; newspapers, and made available on the Company&#8217;s website </font><font style="color:#808080;font-size:11pt;">(</font><font style="color:#808080;font-size:11pt;">www.suzano.com.br/ri</font><font style="color:#808080;font-size:11pt;">)</font><font style="color:#808080;font-size:11pt;">,</font><font style="color:#808080;font-size:11pt;"> in the area of Documents delivered to the CVM - 2023 Meetings, and also on the CVM (</font><font style="color:#808080;font-size:11pt;">www.cvm.gov.br</font><font style="color:#808080;font-size:11pt;">) and B3 (</font><font style="color:#808080;font-size:11pt;">http://www.b3.com.br</font><font style="color:#808080;font-size:11pt;">) websites, the agenda for the AESM will consist of the matters indicated below: </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:0.35pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">1.</td><td style="padding:0pt;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;">In Annual General Shareholder&#8217;s Meeting&#160; </b></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 18.35pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:17.45pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">1.1.</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Examine the management accounts related to the fiscal year ended December 31, 2022;</font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;"> </font><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:17.45pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">1.2.</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Examine, discuss and vote on the financial statements of the Company for the fiscal year ended December 31, 2022, and to review the management report for said fiscal year; </font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 18.35pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:17.45pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">1.3.</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Resolve on the Company&#8217;s capital budget for the fiscal year ending December 31, 2023;</font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:17.45pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">1.4.</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Resolve on the allocation of the net income for the fiscal year ending December 31, 2022 and the distribution of dividends; </font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:17.45pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">1.5.</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">If the Fiscal Council is installed, to define the number of members that will compose the Fiscal Council and resolve on the election of its members; and </font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;">Determine the overall annual compensation of the Company&#8217;s management and Fiscal Council, if installed, for the fiscal year of 2023.&#160; </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 35.45pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:0.35pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">2.</td><td style="padding:0pt;"><b style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:bold;">In Extraordinary General Shareholders Meeting&#160; </b></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 0pt 36pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18.35pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">2.1.</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Resolve on the amendment to the caput of Article 5 of the Company&#8217;s Bylaws, to reflect the number of shares into which the Company&#8217;s share capital is divided, due to the cancellation of treasury shares approved at the Board of Directors&#8217; Meeting held on February 28, 2023;&#160; </font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt 36.35pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18.35pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">2.2.</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Resolve on the consolidation of the Company&#8217;s Bylaws, in order to reflect the amendment of its Article 5 object of the resolution described in item 2.1 above; and </font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 0pt 36pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18.35pt;"></td><td style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-weight:bold;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">2.3.</td><td style="padding:0pt;"><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;white-space:pre-wrap;"> </font><font style="color:#808080;font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;font-style:normal;font-weight:normal;">Authorize the Company&#8217;s management to take all measures necessary to implementation of the approved matters, in accordance with the applicable law.&#160; </font></td></tr></table><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 0pt 0.35pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><font style="color:#808080;font-size:11pt;white-space:pre-wrap;">*  *  *</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">6</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:6.05%;margin-right:6.05%;margin-top:30pt;page-break-after:always;width:87.91%;border-width:0;"><div style="max-width:100%;padding-left:6.05%;padding-right:6.05%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;min-height:35.75pt;"><div style="height:0pt;position:relative;width:100%;"><div style="height:35.3pt;position:absolute;right:50%;top:0.45pt;transform:translateX(50%);width:238.4pt;z-index:251701248;"><div style="height:35.3pt;left:0pt;padding-bottom:0pt;position:relative;top:0pt;width:238.4pt;"><div style="height:calc(100% - 7.18pt);left:0pt;position:relative;text-indent:0pt;top:0pt;padding:3.59pt 7.19pt 3.59pt 7.19pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;text-align:center;width:100%;margin:0pt;"><font style="color:#0072d8;font-family:'Zooja Pro';font-size:28pt;">Annex I</font></p></div></div></div></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><font style="color:#808080;font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><font style="color:#808080;font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><font style="color:#00e5be;font-size:14pt;">Attendance Registration</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:-0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:86.66%;"><tr><td colspan="2" style="vertical-align:top;width:100%;background:#0072d8;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><b style="color:#ffffff;font-size:11pt;font-weight:bold;">Individual</b></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Full Name:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">CPF/ME:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Contact phone number:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Contact e-mail:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Full address:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">No. of shares:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt 0pt 0pt -0.25pt;"><font style="color:#808080;font-size:11pt;margin-left:0pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:-0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:86.66%;"><tr><td colspan="2" style="vertical-align:top;width:100%;background:#0072d8;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><b style="color:#ffffff;font-size:11pt;font-weight:bold;">Legal Entity / Investment Fund</b></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:100%;background:#00e5be;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><b style="color:#ffffff;font-size:11pt;font-weight:bold;">Identification of Legal Entity / Investment Fund</b></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Corporate Name:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">CNPJ/ME:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">No. of shares:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:100%;background:#00e5be;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><b style="color:#ffffff;font-size:11pt;font-weight:bold;">Identification of the Legal Representative</b></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Full Name:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">CPF/ME:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Position (</font><i style="color:#808080;font-size:11pt;font-style:italic;">e.g.</i><font style="color:#808080;font-size:11pt;">, Officer, Attorney-in-Fact, etc.): </font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Contact phone number:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Contact e-mail:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Full address:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p><div style="margin-left:-0.25pt;" align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;width:86.66%;"><tr><td colspan="2" style="vertical-align:top;width:100%;background:#0072d8;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;text-align:center;margin:0pt;"><b style="color:#ffffff;font-size:11pt;font-weight:bold;">Attorney-in-Fact</b></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:100%;background:#00e5be;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><b style="color:#ffffff;font-size:11pt;font-weight:bold;">Identification of the Attorney-in-Fact</b></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Full Name:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">CPF/ME:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Contact phone number:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Contact e-mail:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Full address:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:100%;background:#00e5be;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><b style="color:#ffffff;font-size:11pt;font-weight:bold;">Identification of the Principal, if he/she is an Individual</b></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Full Name:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">CPF/ME:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">No. of shares:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td colspan="2" style="vertical-align:top;width:100%;background:#00e5be;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><b style="color:#ffffff;font-size:11pt;font-weight:bold;">Identification of the Principal, if it is a Legal Entity / Investment Fund</b></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">Corporate Name:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">CNPJ/ME:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr><tr><td style="vertical-align:top;width:40.3%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;">No. of shares:</font></p></td><td style="vertical-align:top;width:59.69%;border-bottom:1px solid #808080;border-left:1px solid #808080;border-right:1px solid #808080;border-top:1px solid #808080;margin:0pt;padding:0pt 5.15pt 0pt 5.15pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;line-height:1.37;margin:0pt;"><font style="color:#808080;font-size:11pt;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:center;margin:24pt 0pt 0pt 0pt;">7</p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:6.05%;margin-right:6.05%;margin-top:30pt;page-break-after:avoid;width:87.91%;border-width:0;"></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
