Related parties

6 Months Ended

Jun. 30, 2025

Disclosure of transactions between related parties [abstract]

Disclosure of related party [text block]

11 RELATED PARTIES

The Company's commercial and financial transactions with the controlling shareholder and Companies owned by the controlling shareholder Suzano Holding S.A. ("Suzano Group") were carried out at specific prices and conditions, as well as the corporate governance practices adopted by the Company, and those recommended and/or required by the applicable legislation.

The transactions refers mainly to:

Assets: (i) accounts receivable from the sale of pulp, paper, tissue and other products; (ii) dividends receivable; (iii) reimbursement for expenses; and (iv) social services;

Liabilities: (i) loan agreements;(ii) reimbursement for expenses; (iii) social services; (iv) real estate consulting; and (v) dividends payable.

Amounts in the statements of income: (i) sale of pulp, paper, tissue and other products; (ii) loan charges and exchange variation; (iii) social services and (viii) real estate consulting.

For the six-month period ended June 30, 2025, there were no material changes in the terms of the agreements, deals and transactions entered into, nor were there any new contracts, agreements or transactions of any different nature entered into between the Company and its related parties.

11.1 Balances recognized in assets and liabilities and amounts of transactions during the period


	Assets		Liabilities		Sales (purchases), net
	06/30/2025	12/31/2024	06/30/2025	12/31/2024	06/30/2025	06/30/2024
Transactions with majority shareholders
Suzano Holding S.A.	14	4	(576)	(630,387)	(543)	22
Controller				(336,205)
Management and related persons				(55,627)
Alden Fundo de Investimento em Ações				(52,764)
	14	4	(576)	(1,074,983)	(543)	22

Transactions with companies of the Suzano Group and other related parties
Management	128	61			256	290
Bexma Participações Ltda.	1				4	3

Naman Capital Ltda.	2				4	4
Civelec Participações Ltda.	2,895	3,860
Fundação Arymax	2				3	3
Ibema Companhia Brasileira de Papel (1)	81,018	83,343	(2,417)	(1,413)	102,103	87,768
Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável	1	21	(1,226)		(3,736)	(2,837)
IPLF Holding S.A.		1			3	2
Mabex Representações e Participações Ltda.			(406)	(23)	(1,007)	(629)
Nemonorte Imóveis e Participações Ltda.			(15)		(75)	(74)
Woodspin Oy		203			580	427
	84,047	87,489	(4,064)	(1,436)	98,135	84,957
	84,061	87,493	(4,640)	(1,076,419)	97,592	84,979

Assets
Trade accounts receivable (Note 7)	81,018	83,545
Other assets	3,043	3,948
Liabilities
Trade accounts payable (Note 17)			(4,640)	(1,457)
Interest on own capital payable				(1,074,962)
	84,061	87,493	(4,640)	(1,076,419)

(1)Refers mainly to the sale of pulp.

11.2 Management compensation

Expenses related to the compensation of key management personnel, which include the Board of Directors, Fiscal Council and Board of Statutory Executive Officers, recognized in the statement of income for the period, are set out below:


	06/30/2025	06/30/2024
Short-term benefits
Salary or compensation	21,464	27,234
Direct and indirect benefits	524	1,209
Bonus	15,751	6,962
	37,739	35,405
Long-term benefits
Share-based compensation plan	68,533	29,261
	68,533	29,261
	106,272	64,666

Short-term benefits include fixed compensation (salaries and fees, vacation pay, mandatory bonus and “13th month’s salary” bonus), payroll charges (Company’s share of contributions to social security – “INSS”) and variable compensation such as profit sharing, bonuses and benefits (company car, health plan, meal voucher, market voucher, life insurance and private pension plan).

Long-term benefits include the stock option plan and phantom shares for executives and key members of Management, in accordance with the specific regulations disclosed in Note 22.1.