3Q10 Consolidated ResultsOctober 29th, 2010

02/09

Pulp

Paper

• Global market pulp production of 10.8 MMt in 3Q10: +9.2% vs. 2Q10 and +5.7% vs. 3Q09

• Global pulp sales volume: (MMt)

3Q10 3Q10 x 2Q10 3Q10 x 3Q09

Market Pulp: 10.1 +0.8% -4.9%

Eucalyptus: 3.4 -0.2% -6.5%

• Global inventories at 32 days1 (Sep/10): below the historical average of 33 days

• Price decreases in 3Q10: US$ 870/ton (September, CIF Europe)

• Market pulp shipments to China in September:

Market pulp: 685 thousand tons (+72.1% vs. Aug/10 and + 46.7% vs. Jul/10)

Eucalyptus: 198 thousand tons (+98.0% vs. Aug/10 and +21.5% vs. Jul/10)

1PPPC

• Domestic demand2: growth post-crisis recovery

3Q10 3Q10 x 2Q10 3Q10 x 3Q09

Printing & Writing 528.6 +15.5% +6.3%Paperboard 166.7 +8.4% +10.8%

• Increase of P&W paper imports in the domestic market (25.4% vs. 23.4% in 2Q10)

• Brazilian exports accounted for 34.3% of total sales compared to 40.0% in 2Q10

• Recovery of the main P&W markets in 3Q103 vs. 3Q09:

Western Europe: -2.6% vs. 2Q10 and +7.6% vs. 3Q09

North America: -0.1% vs. 2Q10 and +4.1% vs. 3Q09

3Q10 Highlights – Pulp and Paper Markets

2Bracepla 3RISI

3Q10 Highlights - Suzano

• Total market pulp and paper production of 680 thousand tons

• Sales volume of 675 ktons: 390 ktons of pulp and 285 ktons of paper

• Net revenue of R$1.2 billion

• Pulp production cash cost of R$458/ton1

• EBITDA of R$ 408 million, with EBITDA margin of 35.2%

• Net income of R$273 million

• Net debt / EBITDA ratio of 2.4x. Cash and cash equivalents of R$ 3.6 billion and net debt of R$ 7.5 billion in September/10

• Reduction of US$ 50/ton in pulp prices in August and maintenance of prices in September and October.

• New increases in paper prices in both domestic and export markets

• US$ 650 million raised through notes rated Baa3 (Investment Grade, Moody’s) and BB+ (Standard & Poor’s).

03/091 Excluding maintenance downtime costs

04/09

Pulp Business Unit

• Sales: 389.5 thousand tons in 3Q10:

� 7.3% lower than 2Q10� 2.4% lower than 3Q09

• Average net price in 3Q10 (domestic and exports) of US$ 748.1/ton, +0.9% vs.2Q10. In R$:

� 1.5% lower than 2Q10� 50.3% higher than 3Q09

• Net revenue of R$ 509.7 million.

� 8.8% lower than 2Q10� 46.7% higher than 3Q09

Pulp Sales (ktons) Pulp Sales Destination

389.5 thousand tons 420.2 thousand tons

3Q10 2Q10

05/09

Paper Business Unit

Paper Sales (ktons) Paper Sales Destination

• Sales volume of 285.4 thousand tons in 3Q10:

3Q10 x 2Q10 3Q10 x 3Q09

� Printing & Writing -3.5% +10.0% � Paperboard -5.2% +5.2% � Average paper price (domestic) +3.7% +4.7%

• Domestic sales: 61.6% of total sales in 3Q10

• Exports average net price:

3Q10 x 2Q10 3Q10 x 3Q09

� In US$ +9.5% +25.8%� In R$ +6.9% +17.9%

285.4 thousand tons 296.9 thousand tons

3Q10 2Q10

06/09

Operational Performance

• Higher share of paper in Suzano’s revenue:� 56% in 3Q10 vs. 53% in 2Q10

• Pulp cash cost ¹ 1.3% lower than 2Q10:� Lower costs related to wood from third parties

� Lower chemicals cost� Higher fixed cost

• EBITDA margin of 35.2%:� 0.5 p.p. higher than 2Q10� No non-recurring items in 3Q10

Net Revenue Breakdown Pulp cash cost¹ (R$/ton)

Highlights

1 Mucuri Unit

07/09

Debt and leverage

1All amounts in the table above include the adjustments introduced by the IFRS standards.

Debt Breakdown1 - R$ Million September-10 June-10 September-09

Gross Debt 7.476 6.427 6.611

(-) Cash and Cash Equivalents -3.625 -2.544 -2.447

Net Debt 3.850 3.883 4.164

Net Debt / EBITDA 2,4x 2,7x 3,6x

08/09

Key Messages

• Demand recovery in pulp and paper markets:

� Paper: new price hikes and bigger domestic sales in the sales mix

� Pulp: sales volume recovery in Sep/10 in China and global inventories below the historicalaverage

• Operational margins recovery

• Solid financial position

� Adequate debt profile and competitive debt cost

� Leverage reduction: from 2.7x in Jun/10 to 2.4x in Sep/10

� US$ 650 million raised through notes rated Baa3 (Investment Grade, Moody’s) and BB+ (Standard & Poor’s).

• Consistent growth strategy

� Evolution in Maranhão and Piauí projects:

− Obtained prior license of Maranhão’s industrial facility

� Acquisition of FuturaGene concluded, by the amount of US$ 84 million

09/09

Investor Relationswww.suzano.com.br/ri+55 11 3503-9061ri@suzano.com.br