1Q24

Earnings

Presentation

ri.klabin.com.br

ri.klabin.com.br

1Q24 Earnings Presentation

DISCLAIMER

This presentation may contain forward-looking projections or statements. Such statements are exposed to known and unknown risks and different nature uncertainties that may cause these expectations not to materialize or to differ materially from those anticipated. Furthermore, these expectations and projections are made based on estimates, information or methodology that may be inaccurate or incorrect.

Those risks and uncertainties, among others, are related to: (i) future demand for the Company's products; (ii) changes in the aspects that impact the domestic and international product prices; (iii) changes in cost structures;

  1. changes in the seasonality of markets; (v) competition in the markets in which the Company operates; (vi) exchange variations; (vii) changes in the global market and especially in the markets where the Company operates or sells its products; (viii) capital markets; and (ix) factors that affect the company's operation, including changes in laws and regulations. For additional information on factors that may impact the Company's statements, please consult the Reference Form, in particular item 4 (Risk Factors), which is registered with CVM and also available on the Company's Investor Relations website.

There is no guarantee that the Company's expectations or projections will occur and current results are no guarantee of future performance. This presentation is up to this date and Klabin has no obligation to update it in light of new information and/or future events.

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ri.klabin.com.br

1Q24 Earnings Presentation

1Q24 PERFORMANCE - Sales Volume

Pulp

362

SHORT FIBER

27%

252 k tons

k tons

LONG FIBER/FLUFF

12%

110 k tons

Paper - Market

COATED BOARDS

21%

306

198 k tons

k tons

KRAFTLINER

12%

108 k tons

Packaging

CORRUGATED BOXES

23%

248

215 k tons

k tons

INDUSTRIAL BAGS

4%

33 k tons

Total Sales¹

922

k tons

Convertion

(Integration)

CORRUGATED

BOXES

63%

Integration²

INDUSTRIAL

BAGS

% of total sales volume

Adjusted EBITDA by

Segment³ 1Q24

R$ 1.652 bn

Pulp

Paper &

40%

Packaging

60%

1 - Excludes wood sales.

2 - It considers the amount of paper used for the production of packaging in relation to the volume of containerboard produced in the period (441 thousand tons)

3 - Result of 'Other' allocated in the respective businesses and Forestry result allocated to "Paper and Packaging".

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ri.klabin.com.br

1Q24 Earnings Presentation

1Q24 RESULTS

Sales volume driven by the ramp-up of PM27 and PM28 and drop in costs benefited the result

Sales Volume¹

Net Revenue²

(thousand tons)

(R$ million)

Exchange³

1Q23

1Q24

R$ / US$

Average dollar

5.20

4.95

Adjusted EBITDA

(R$ million)

+5%

881

43%

57%

922

42%

58%

Foreign Market

Domestic

Market

-8%

4,831

38%

62%

4,430

35%

65%

40% 37%

-15%

1,942

1,652

1Q23

1Q24

1Q23

1Q24

Domestic Market Foreign Market

1 - Excludes wood and includes subproducts sales

2 - Includes wood sales, subproducts and hedge accounting

3 - Source: Central Bank of Brazil

1Q23 1Q24

EBITDA Margin

Adjusted EBITDA

4

ri.klabin.com.br

1Q24 Earnings Presentation

PULP

Heated demand, flexible mix between geographies and cost discipline favored the result

Sales Volume

(thousand tons)

-3%

373 362

Short Fiber 271

252

Long Fiber

26

18

92

Fluff

76

1Q23

1Q24

Short Fiber and Long

Production Cash Cost

Fiber/Fluff Net Price

(R$ per ton)

(US$ per ton¹)

-18%

US$

US$

US$

261/t¹

266/t¹

255/t¹

-15%

Short Fiber

Long Fiber + Fluff

-7%

1,156

949

-4%

779

1,355

659

1,318

1,263

1Q23

1Q24

1Q23

4Q23

1Q24

1 - Calculated with the average dollar of the period

5

ri.klabin.com.br

1Q24 Earnings Presentation

PAPER AND CORRUGATED BOXES

Sales volume driven by the ramp-up of PM27 and PM28 and strong demand in the kraftliner and corrugated boxes segments

PAPER

Sales Volume

Net Revenue

(thousand tons)

(R$ million)

CORRUGATED BOXES

Sales Volume

Net Revenue

(million m²)

(R$ million)

+16%

263

306

1Q23

1Q24

+3%

1,374

1,411

1Q23

1Q24

+6%

367

387

1Q23

1Q24

2024e

+1%

1,217

1,235

1Q23

1Q24

6

ri.klabin.com.br1Q24 Earnings Presentation

TOTAL CASH COST

1Q24 total cash cost lower than the Company's guidance of R$ 3,100 per ton for 2024

Total Cash Cost1/2

COGS1

Sales and G&A expenses

(R$ per ton)

(R$ per ton)

(R$ per ton)

-9%

3,273

-1%

3,000

2,984

1Q23

4Q23

1Q24

-6%

2,437

-1%

2,322

2,295

1Q23

4Q23

1Q24

-17%

782

-4%

676

650

1Q23

4Q23

1Q24

1 - Excludes the maintenance cost of scheduled downtimes

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2 - Excludes the non-recurring effect of extemporaneous credit of R$ 63.4 million due to the exclusion of ICMS in the PIS/Cofins base in 4Q23

ri.klabin.com.br

1Q24 Earnings Presentation

NET DEBT AND LEVERAGE

Leverage remains within the parameters of the Financial Indebtedness Policy²

4.2

3.6

4.0

3.2

3.0

2.7

2.7

2.8

3.3

2.7

2.7

2.6

2.9

3.1

2.4

2.7

2.6

2.6

2.6

2.6

21,744

18,770

19,950

20,916

17,890

20,525

21,435

21,038

20,985

19,515

Position in 03/31/2024

(R$ billion)

Gross Debt

R$ 33.1

Cash³

R$ 11.8

Net Debt

R$ 21.3

3.2

3.3

3.5

3.5

3.2

3.2

20,882 20,193 21,350

5,153

5,618

6,313

6,885

7,336

7,528

7,911

7,931

8,148

7,502

6,544

6,322

6,032

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

3Q22

4Q22

1Q23

2Q23

3Q23

4Q23

1Q24

Net Debt (R$ million)

Adjusted EBITDA LTM1 (R$ million)

Net Debt / EBITDA (LTM1 - US$)³

Net Debt / EBITDA (LTM1 - R$)³/4

1

- LTM: Last twelve months

2

- Access the financial indebtedness policy in full on the IR website

8

3

- Does not include a US$ 500 million Revolving Credit line maturing in Oct/26

4

- Net Debt/EBITDA (US$): considers the dollar of the ending of the period for the calculation of net debt and the average dollar of the

period for EBITDA

ri.klabin.com.br

1Q24 Earnings Presentation

AMORTIZATION SCHEDULE

Robust cash position and extended debt profile. Cash of US$ 1.2 bilion for Caetê Project payment

Revolving

14,298

Credit

2,498

US$

47%R$

Facility1

53%

6,490

6,263

1Q24

4Q23

In months

Average Debt Maturity

90

94

Cost of Debt in US$

5.7% p.y

5.7% p.y

Cash Position 11,800

2,600

2,767

6,292

6,060

3,329

3,074

3,583

1,384 1,742 1,930

850

1,265 892 671

119

Liquidity 2024 2025 2026

2,568

198

2027

198

2028

203

2029

821

205616

2030

3,141

2,007

3,583

852

245

80

1,068

616

188

236

165

0

2031

2032

2033

2034 to

2040 to

2039

2049

Local Currency Foreign Currency

1 - Revolving Credit Facility (RCF) of US$ 500 million maturing in Oct/26

9

ri.klabin.com.br

1Q24 Earnings Presentation

DIVIDENDS & IoC

R$ million considering accrual basis

Dividend

6.8%

5.7%

5.3%

Yield¹

1,628

1,340

1,281

1 - Calculated based on the earnings paid per unit and the average daily closing price of the unit in the period 2 - As approved at the Board of Directors Meeting held on 04/24/2024. To access the Notice to Shareholders, click here

3 - To access the full Dividends and Interest on Equity Policy, click here

2022

2023

LTM 2024

Dividends + IoC (R$ millions)

1Q24² Dividends: R$ 330 millions

Dividend Policy³: Target between

15% and 25% of Adjusted EBITDA

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Disclaimer

Klabin SA published this content on 26 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2024 15:00:33 UTC.