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Klabin S.A.

Management Proposal and Shareholder Attendance Manual

Annual and Extraordinary General Meeting to be held on March 24, 2021

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February 22, 2021 ______

______SUMMARY

MESSAGE FROM MANAGEMENT 3

GUIDELINES FOR ATTENDANCE AT THE ANNUAL AND EXTRAORDINARY 4 GENERAL MEETING

CALL NOTICE 9

MANAGEMENT PROPOSAL 11

APPENDIX I COMMENTS FROM COMPANY MANAGEMENT 17

APPENDIX II ALLOCATION OF NET INCOME FOR THE FISCAL YEAR 52

APPENDIX III NOMINATION OF MANAGERS FOR THE POSITIONS OF FULL AND ALTERNATE MEMBERS (INCLUDING INDEPENDENT MEMBERS) OF THE 57 COMPANY’S BOARD OF DIRECTORS AND FISCAL COUNCIL

APPENDIX IV PROPOSED COMPENSATION OF MANAGERS PURSUANT TO 86 ART. 12, I, OF CVM INSTRUCTION 481

APPENDIX V PROPOSED COMPENSATION OF MANAGERS PURSUANT TO 87 ART. 12, I, OF CVM INSTRUCTION 481

APPENDIX VI PROPOSED AMENDMENT TO THE BYLAWS PURSUANT TO 120 ART. 11, II, OF CVM INSTRUCTION 481

APPENDIX VII AMENDED AND CONSOLIDATED BYLAWS PURSUANT TO 132 ART. 11, I, OF CVM INSTRUCTION 481

MESSAGE FROM MANAGEMENT

Dear Shareholders,

The management of Klabin SA (“Klabin” or “Company”), as published on this date, invites you to attend the Annual and Extraordinary General Meeting to be held on March 24, 2021, at 2:00 p.m. (Brazil Time), in exclusively virtual format (“AEGM”), to resolve on the following agenda: Annual General Meeting: (i) to receive the accounts from the Management, to examine, discuss and vote on the Management’s Report and the Financial Statements of the Company, accompanied by the Opinions issued by the Independent Auditors and the Fiscal Council, referring to the fiscal year ending on December 31, 2020; (ii) to resolve on the allocation of the results of the fiscal year ending on December 31, 2020; (iii) to establish the number of seats on the Board of Directors for the next term; (iv) to elect the members of the Board of Directors; (v) to elect the members of the Fiscal Council; and (vi) to resolve on the annual and global compensation the managers in fiscal year 2021; and (vii) to resolve on the annual and global compensation of the members of the Fiscal Council in fiscal year 2021; Extraordinary General Meeting: (i) to resolve on the re-ratification of the annual and global compensation of managers in fiscal year 2020; (ii) to resolve on amendments to Articles 1, 2 3, 5, 16, 20, 22, 26, 28, 32, 33, 37, 41 and 42 of Company’s Bylaws, as per the Management Proposal; and (iii) to resolve on the consolidation of the Company’s Bylaws.

The decision to hold the AEGM in an exclusively virtual format, pursuant to CVM Instruction 481/09, aims to meet the safety measures recommended in connection with the Coronavirus (COVID-19) pandemic, in particular those restricting agglomerations.

In order to clearly and objectively transmit the necessary information for shareholders to attend at the AEGM and exercise their voting rights duly informed, the Company's management prepared this Management Proposal and Shareholder Attendance Manual (“Manual ”), containing the guidelines and procedures that shareholders must observe to attend at the AEGM, including the instructions for the virtual voting platform, as well as the information and documents related to the proposal by the Company's Management for resolution on the items included in the Agenda.

Pursuant to article 21-A of the Brazilian Securities and Exchange Commission – CVM – Instruction No. 481/09, Klabin shall also adopt the remote voting system at the AEGM. Instructions for completing and sending Voting Ballots are on the Voting Ballot itself and further ahead in this Manual.

Documents associated with the matters for deliberation accompany the present Manual and are available on the Website of the Brazilian Securities and Exchange Commission – CVM (cvm.gov.br), at the Company’s head offices and on its Website (ri.klabin.com.br), and on the Website of B3 S.A. – Brasil, Bolsa, Balcão (b3.com.br).

Sincerely,

The Board of Directors Klabin S.A. GUIDANCE FOR ATTENDANCE AT THE ANNUAL GENERAL MEETING

All holders of the Company’s shares, including those held through Units, may attend the AEGM, provided they offer proof of identity and the stake held through the appropriate documentation, pursuant to Art. 15 of the Company's Bylaws and Art. 126 of Law 6.404/76. Only common shares of the Company shall afford voting rights on matters on the Agenda of the Day. Shareholders may attend the (i) virtually, by means of the appropriate digital platform; or (ii) by submission of Remote Voting Ballots.

To facilitate shareholders’ attendance at the AEGM, in addition to allowing virtual attendance, the Company shall also waive notarization and submission of certified copies of ID documents, proof of powers and powers of attorney. We emphasize, however, that documents not drawn up in Portuguese must be accompanied by the respective translations.

The following topics of the present Manual describe the procedures by which shareholders shall abide and the documents to be produced for the purposes of attendance at the AEGM.

1. Attendance via digital platform

Shareholders choosing to attend by means of the digital platform shall contact the Company’s Investor Relations department by e-mail at: [email protected].

Shareholders shall provide to the Company, on the e-mail provided above, digital copies of the following documents:

Individuals  Photo ID for the shareholder, or, as the case may be, Photo ID of the shareholder’s proxy and respective power-of-attorney.

 Latest consolidated bylaws or statutes and corporate documents that prove Legal Entities the legal representation of the shareholder.  Photo ID of the respective legal representatives.

 Latest consolidated fund charter (should the charter not cover the fund's voting policy, also provide the supplementary information form or equivalent). Investment Funds  Bylaws or statutes of the administrator or manager, as the case may be, provided the fund's voting policy and corporate documents proving the powers of representation.  Photo ID of the respective legal representatives.

Additionally, pursuant to Article 15 of the Company's Bylaws, shareholders shall provide proof of ownership of shares, such proof to be issued by the custodian institution or by the bookkeeping agent of the Company's shares, depending on whether or not their shares are deposited in a central depository, issued no later than three (3) days prior to the date of the AEGM.

Pursuant to article 5, paragraph 3 of CVM Instruction 481/09, in order to allow the proper coordination of the meeting, shareholders who wish to attend via digital platform must send the documents above 48 hours (forty- eight hours) or more, without extension, prior the date and time of the meeting, without extension – that is, by 2:00 p.m. (Brazil Time) March 22, 2021.

After receiving the documents at the above e-mail address indicated above and confirming their validity and completeness, the Company shall authorize the shareholder to attend at the AEGM via digital platform and provide the detailed instructions for their use, as well as the access link. Only duly accredited shareholders may attend the AEGM, in accordance with the foregoing periods and procedures.

The digital platform that the Company shall provide for access to and attendance at the AEGM shall be the Zoom virtual meeting application. Further information on the features of this platform can be found at: https://zoom.us.

The Company recommends to shareholders who wish to attend at the AEGM by virtual means to familiarize themselves in advance with the use of the Zoom platform, as well as ensure the compatibility of their respective electronic devices for the use of the platform. In addition, the Company requests such shareholders to access the Zoom platform at least 30 (thirty) minutes prior to the scheduled time of the AEGM in order to allow the validation of the access of all accredited shareholders.

Through the Zoom platform, the accredited shareholders shall be able discuss and vote on the agenda items, with video and audio access to the virtual room where the AEGM shall take place.

The Company shall not be held responsible for any operational or connection problems that the shareholder may encounter, as well as for any other issues beyond the Company's control that may hinder or prevent a shareholder from attending at the AEGM by electronic means. Should a shareholder who has duly requested their participation by electronic means not receive the e-mail with instructions for access to the digital platform by 4:00 p.m (Brazil Time). on March 23, 2020, he/she shall contact the Company by telephone at +55 (11) 3046-8401 or 3046-8404, no later than 10:00 a.m. on March 24, 2021, so that the respective access instructions may be re-sent or provided by telephone.

1.1. Proxy attendance

Pursuant to Article 126, ¶ 1, of Law 6.404/79, Individual shareholders may be represented by Proxy under a power-of-attorney granted 1 (one) year prior or less to a shareholder, lawyer, financial institution, or manager of the Company.

Shareholders that are legal entities or an investment funds may be represented by proxy in the manner provided for in the legal entity’s or investment fund’s respective bylaws, statutes or charter, as the case may be, even if such a proxy is not a shareholder, lawyer, financial institution or manager of the Company, in line with the Brazilian Securities and Exchange Commission’s – CVM understanding of the subject..1

Power-of-attorneys must be granted in writing and, pursuant to the contents of article 654, ¶1 and ¶2 of the Brazilian Civil Code (Law no. 10.406/02), must describe the respective places where they were granted, the complete qualifications of the grantor and the grantee, the date and purpose of the granting with the designation and extent of the powers granted. Certification of the grantor’s signature is waived.

2. Remote ballot attendance

A shareholder may also vote at the AEGM by means of the submission of a distance voting ballot in the following ways:

(i) by sending instructions for completion of the distance voting ballot to its custodian agents, in the case of shareholders holding shares deposited in a central depository; or

(ii) by sending instructions for completion of the distance voting ballot to the bookkeeping agent of the shares issued by the Company, Itaú Corretora de Valores S.A., for those shareholders holding shares deposited at the booking agent; or

(iii) by sending instructions for completion of the distance voting ballot directly to the Company.

The distance voting ballot for attendance at the AEGM is available at the Websites of B3 SA – Brasil, Bolsa, Balcão (b3.com.br), the Brazilian Securities and Exchange Commission – CVM (cvm.gov.br) and the Company (ir.klabin.com.br).

Submission through service providers

Shareholders choosing to exercise their distance voting rights by means of service providers must convey the instructions for completion of the distance voting ballot to their custody agent or to the bookkeeping institution for Klabin's shares, depending on whether or not their shares are held by the central depositary, up to 7 (seven) days prior to the date of the AEGM, that is, on or before March 17, 2020, unless the custodian establishes a different time period.

Shareholders shall contact the service provider receiving instructions for completion of the distance voting ballot to verify the procedures established thereby for the issue of voting instructions via voting ballot, as well as the documents and information required to do so.

Direct submission to Klabin

Shareholders choosing to submit their remote voting ballot directly to the Company shall provide scanned

1 Pursuant to the ruling of the CVM Collegiate Body in Administrative Proceeding RJ2014/3578. copies of ID documents and proof of powers and share ownership as described in foregoing item 1. Translations shall be required where the documents have not been originally drawn in Portuguese.

The scanned copy of the remote voting ballot, accompanied by the respective documentation, in full order and in accordance with the provisions above, shall be received by the Company up to 7 (seven) days prior to the date of the AEGM, that is, until by or before Mach 17, 2021.

The Company shall disregard any voting ballots received after the said date.

For a voting ballot to be deemed valid, it is essential that for (i) all fields to be properly filled out; (ii) all of the pages to be initialed; and (iii) the shareholder or their legal representative, as the case may be and pursuant to the applicable law, to have signed the voting ballot’s last page.

Pursuant to article 21-U of Brazilian Securities and Exchange Commission – CVM Instruction 481/09, Klabin shall inform each shareholder of whether the documents received are sufficient for a vote to be deemed valid or procedures and deadlines for any correction or resubmission. Where a correction or resubmission is required, it shall take place up to 7 (seven) days prior to the date of the AEGM, that is, by or before March 17, 2021.

Given the Coronavirus (COVID-19) pandemic scenario and the preventive measures adopted to contain dissemination, we strongly recommend to shareholders choosing to submit the ballot directly to the Company to preferably do so electronically by sending a scanned copy of the ballot and relevant documentation by e- mail to: [email protected]. Alternatively, shareholders may also mail the physical ballot and documentation to the following address: Av. Brigadeiro Faria Lima, 3,600, 3rd floor, São Paulo, SP, ZIP Code 04538- 132, care of the Company’s Investor Relations.

Proof of uninterrupted share ownership

Regardless of a shareholder’s chosen means of submission (whether directly to the Company or through a services provider), where they choose to complete resolution items associated with the separate vote for the Board of Directors, they shall submit to the Company, by e-mail to [email protected], proof of uninterrupted title over the equity stake for a minimum period of 3 (three) months preceding the AEGM, such to be issued by the relevant entity no earlier than March 21, 2021, provided that such proof shall only be deemed valid if received at the e-mail address above by or before 10:00 a.m. on March 24, 2021.

3. Final guidelines

A shareholder shall not be entitled to attend the AEGM if they fail to provide, pursuant to the foregoing deadlines and procedures, proper documentation to substantiate their identity and shareholdings, as provided in foregoing items 1 and 2.

The Company reiterates the recommendation that shareholders (i) familiarize themselves in advance with the use of the Zoom platform, as well as ensure the compatibility of their respective electronic devices with the use of the platform (by video and audio); and (ii) access the platform, on the day of the AEGM, at least 30 (thirty) minutes prior to the scheduled starting time to enable access validation and the attendance of all accredited shareholders.

Finally, a shareholder wishing to make inquiries, address any doubts or obtain additional information about the procedures for attendance at the AEGM, may do so by contacting Klabin's Investor Relations Department, through (i) the telephones +55 11 3046-8406 or +55 11 3046-8404 (ii) or through e-mail to: [email protected]. KLABIN S.A. CNPJ: No. 89.637.490/0001-45 NIRE: 35300188349 A Public Listed Company

CALL NOTICE

In accordance to Law 6.404/76 and its Bylaws, Klabin S.A. ("Klabin" or "Company") calls its shareholders to convene at the Annual and Extraordinary General Meeting (“AEGM”) to be held at first call on March 24, 2021, at 2:00 p.m. (Brazil Time), in exclusively virtual format, to resolve on the following items:

Annual General Meeting

I. to receive the accounts from the Management, to examine, discuss and vote on the Management’s Report and the Financial Statements of the Company, accompanied by the Opinions issued by the Independent Auditors and the Fiscal Council, referring to the fiscal year ending on December 31, 2020;

II. to resolve on the allocation of the results of the fiscal year ending on December 31, 2020;

III. to establish the number of seats on the Board of Directors for the next term;

IV. to elect the members of the Board of Directors;

V. to elect the members of the Fiscal Council;

VI. to resolve on the annual and global compensation of the managers in fiscal year 2021; and

VII. to resolve on the annual and global compensation of the members of the Fiscal Council in fiscal year 2021.

Extraordinary General Meeting

I – to resolve on the re-ratification of the annual and global compensation of managers in fiscal year 2020;

II – to resolve on amendments to Articles 1, 2, 3, 5, 16, 20, 22, 26, 28, 32, 33, 37, 41 and 42 of Company’s Bylaws, as per the Management Proposal; and

III – to resolve on the consolidation of the Company’s Bylaws.

To comply with the recommended precautions in connection with the novel coronavirus (Covid-19) pandemic, the AEGM shall be held in exclusively virtual format, by means of a digital platform, pursuant to CVM Instruction No. 481/09 and in line with detailed instructions provided in the Management Proposal and Shareholder Attendance Manual as announced by the Company (“Management Proposal”).

Shareholders may also attend by means of the submission of remote voting ballots, pursuant to CVM Instruction No. 481/09. Ballots may be submitted by means of the respective custody agents or bookkeepers, or directly to the Company in accordance with the guidance provided in the remote voting ballots themselves and the Management Proposal, which are available at the Websites of the Brazilian Securities Exchange Committee – CVM (cvm.gov.br), of B3 S.A. – Brasil, Bolsa, Balcão (b3.com.br) and of the Company itself (ri.klabin.com.br).

Provided the procedures as described in the Management Proposal, shareholders choosing to attend the AEGM by means of the digital platform shall provide to the Company in advance (i) a statement as to their shareholdings to be issued by the custody institution or bookkeeping agent of the Company’s shares, depending on whether or not their shares are held with the central depositary; and (ii) scanned copies of the following documents:

 Individuals: Photo ID of the shareholder;

 Legal Entities: (i) latest consolidated bylaws or statues and corporate documents proving legal representation of the shareholder; (ii) Photo ID of the respective legal representatives.

 Investment Funds: (i) Latest consolidated fund charter (should the charter not cover the fund's voting policy, also provide the supplementary information form or equivalent); (ii) bylaws or statutes of the administrator or manager, as the case may be, provided the fund's voting policy and corporate documents proving the powers of representation; and (iii) Photo ID of the respective legal representatives.

In the event of attendance by proxy at the AEGM, scanned copies of the power-of-attorney and the proxy’s photo ID shall be provided.

Pursuant to Art. 141 of Law 6.404/76 and Art. 3 of CVM Instruction No. 165/91, the minimum percentage attendance required for requesting multiple voting shall be 5 (five) percent of the Company’s voting shares.

All documents in connection with matters to be resolved at the AEGM, including the Management Proposal, are available at the Websites of the Brazilian Securities and Exchange Commission – CVM (cvm.gov.br), of B3 S.A. – Brasil, Bolsa, Balcão (b3.com.br) and of the Company (ri.klabin.com.br), as well as at the Company’s head offices.

The Management Report and the Company’s Accounting Statements for the fiscal year ending December 31, 2020, have been published in the newspapers Diário Oficial do Estado de São Paulo and Valor Econômico on February 11, 2021, and are available on the electronic addresses of the Securities and Exchange Commission of Brazil - CVM (cvm.gov.br), of B3 S.A. - Brasil, Bolsa, Balcão (b3.com.br) and of the Company (ri.klabin.com.br). Any additional clarification may be requested: through (i) the telephones +55 11 3046- 8406 or +55 11 3046-8404 (ii) or through e-mail to: [email protected].

São Paulo, February 20, 2021.

Roberto Klabin Martins Xavier

Chairman of the Board of Directors of Klabin S.A. MANAGEMENT PROPOSAL

Esteemed shareholders,

Pursuant to the contents of CVM Instruction No. 481/09, the managers of Klabin (“Management”) hereby provides the following information and recommendations in connection with the matters on the Agenda for the AEGM (“Management Proposal”, or “Proposal”):

Annual General Meeting

1. To receive the accounts from the Management, to examine, discuss and vote on the Management’s Report and the Financial Statements of the Company, accompanied by the Opinions issued by the Independent Auditors and the Fiscal Council, referring to the fiscal year ending on December 31, 2020:

As approved by the Board of Directors at a meeting held on February 09, 2021, Management submits to your approval the Company’s management report and financial statements, accompanied by the opinions of the independent auditors and the Fiscal Council, in connection with the fiscal year ending December 31, 2020, all of which have been published in the newspapers Diário Oficial do Estado de São Paulo and Valor Econômico, pursuant to Law No. 6.404/76 (“LSA”).

Management proposes the approval, without reservation, of the Management Report and Financial Statements for the fiscal year ending December 31, 2020.

The aforementioned documents and the minutes of the meetings of the Board of Directors and the Fiscal Council the resolved thereon are available for viewing at the Company’s head offices, at the Company’s Website (ri.klabin.com.br) and at the Websites of the CVM (cvm.gov.br) and B3 (b3.com.br). Comments from the Company’s managers, pursuant to item 10 of the Reference Form, can be found in APPENDIX I hereto.

2. To resolve on the allocation of the results of the fiscal year ending on December 31, 2020:

Management proposes to shareholders the approval of the allocation of the results for the fiscal year ending December 31, 2020, as follows:

R$ (=) Accumulated losses of the fiscal year to be absorbed (2,487,870,090.53) (+) Losses absorbed with investment and working capital reserves 600,008,969.22 (+) Losses absorbed with income reserves from biological assets 470,657,884.38 (+) Losses absorbed with required reserves 184,740,041.92 (+) Losses absorbed with tax benefits reserves 238,637,585.58 (=) Accumulated losses of the fiscal year (993,825,609.43)

Detailed information in this respect can be found in APPENDIX II hereto.

3. To establish the number of seats on the Board of Directors for the next term In order to compose the Board of Directors in the next term of office, the controlling shareholders propose to set the number of members of the Company's Board of Directors for the next term of office at 13 effective members and the same number of alternates, indicating that 4 directors may be considered independent2 , pursuant to B3's Level 2 Regulation. Notwithstanding, the controlling shareholders preserve the right to change their proposal, including during the work of the Meeting, in order to increase the number of members of the Board of Directors in case of adoption of the multiple vote process or separate election, always observing the maximum limit established in Article 17 of the Bylaws and the provisions of Article 141, Paragraph 7 of Law 6,404/76.

4. To elect the members of the Board of Directors

To form the Board of Directors for the upcoming term of office, the controlling shareholders nominate a ticket made up of the following members, who, if elected, shall serve until the next annual general meeting to convene to approve the accounts for the fiscal year ending December 31, 2021:

Full Members Alternate Members Israel Klabin Alberto Klabin Daniel Miguel Klabin Amanda Klabin Tkacz Armando Klabin Wolff Klabin Vera Lafer Antonio Sergio Alfano Francisco Lafer Pati Vera Lafer Lorch Cury Horacio Lafer Piva Francisco Amaury Olsen Paulo Sérgio Coutinho Galvão Filho Maria Eugênia Lafer Galvão Roberto Klabin Martins Xavier Lilia Klabin Levine Celso Lafer Reinoldo Poernbacher Roberto Luiz Leme Klabin Marcelo Bertini de Rezende Barbosa Sergio Francisco Monteiro de Carvalho Joaquim Pedro Monteiro de Carvalho Collor de Mello Guimarães Camilo Marcantonio Junior Ruan Alves Pires

The shareholder Mr. Luiz Barsi Filho presented an alternative slate, composed of the following candidates:

Full Members Alternate Members Israel Klabin Alberto Klabin Daniel Miguel Klabin Amanda Klabin Tkacz Armando Klabin Wolff Klabin Vera Lafer Antonio Sergio Alfano Francisco Lafer Pati Vera Lafer Lorch Cury Horacio Lafer Piva Francisco Amaury Olsen Roberto Klabin Martins Xavier Lilia Klabin Levine

2 There was no deliberation by the Board of Directors about the independence of the candidates for the election to be held at the AEGM Celso Lafer Reinoldo Poernbacher Roberto Luiz Leme Klabin Marcelo Bertini de Rezende Barbosa Sergio Francisco Monteiro de Carvalho Guimarães Joaquim Pedro Monteiro de Carvalho Collor de Mello Camilo Marcantonio Junior Ruan Alves Pires Heloísa Belotti Bedicks Andriei José Beber

Mr. Luiz Barsi Filho clarified that the indications above "aim to enable Ms. Heloísa Belotti Bedicks and Mr. Andrei José Beber to run for the Board of Directors through the multiple vote process established in art. 141, "caput" of Law No. 6. 404/76 ("Corporation Law"). 404/76 ("Corporation Law"), given the systemic impossibility of making the BVD made available by Brasil, Bolsa Balcão S/A ("B3"), that is, the interest of the shareholder is that the aforementioned names can be shown on the BVD in the field destined to the adoption of the multiple vote process”.

Mr. Luiz Barsi Filho, by his turn, nominates Ms. Heloisa Belotti Bedicks and Mr. Andriei José Beber for the position of Full Member and Alternate Member of the Board of Directors, respectively, if the AEGM should adopt the multiple voting procedure to elect Directors. BNDES Participações S.A. – (“BNDESPAR”) and Absolute Gestão de Investimentos Ltda indicated its support for the nomination of the foregoing candidates in the event of a multiple-vote election.

We emphasize that, in the Company’s case, adoption of the multiple voting procedure requires a request made in advance at least 48 (forty-eight) hours prior to the AEGM by shareholders representing a minimum 5 (five) percent of the voting stock, pursuant to Art. 141 of the LSA and CVM Instruction No. 165/91. No such request has been submitted so far.

Furthermore, Mr. Luiz Barsi Filho and BNDESPAR also nominated Mr. Mauro Gentile Rodrigues da Cunha and Mr. Tiago Curi Isaac to run for the respective positions of full member and alternate member of the Board of Directors in the event of a separate election where minority preferred shareholders shall vote, pursuant to Article 141, 4, of the LSA.

Pursuant to the contents of Article 10 of ICVM 481, APPENDIX III hereto contains the required information on the candidates to the Board of Directors, as provided in item 12 of the Reference Form, as well as information on potential Board of Directors election scenarios.

5. To elect the members of the Fiscal Council:

Pursuant to the contents of Art. 27, caput, of the Company’s Bylaws, the Fiscal council is a permanent body composed of a minimum of 3 (three) and a maximum of 5 (five) full members and a like number of alternates.

Given the foregoing, the controlling shareholders have nominated for the next one (1) year term of office, ending on the Annual General Meeting that shall convene to approve the financial statements of fiscal year 2021, a ticket of the following candidates: Full Members Alternate Members João Adamo Júnior Vivian do Valle Souza Leão Mikui João Alfredo Dias Lins Antônio Marcos Vieira Santos Raul Ricardo Paciello Felipe Hatem

Additionally, we emphasize that Art. 161, 4, letter “a”, of the LSA guarantees the separate election of one (1) full member of the Fiscal Council and the respective alternate to (i) holders of preferred, non-voting shares, or with restricted voting rights; and (ii) minority shareholders, as long as they collectively represent a minimum of 10% (ten percent) of voting shares.

Shareholder Mr. Luiz Barsi Filho nominated to one vacancy (i) in a separate election where the holders of preferred shares shall vote, Ms. Louise Barsi, as full member and Mr. Tiago Brasil Rocha as the respective alternate; and (ii) in a separate election where minority common shareholders shall vote, Mr. Maurício Aquino Halewicz as full member and Ms. Michele da Silva Gonsales Torres as the respective alternate.

BNDESPAR, by its turn, also nominated to a vacancy in the separate election where minority common shareholders shall vote Mr. Maurício Aquino Halewicz as full member, but nominated Mr. Geraldo Affonso Ferreira Filho as the respective alternate.

Pursuant to the contents of Article 10 of ICVM 481, APPENDIX III hereto contains the required information on the candidates to Fiscal Council membership, as provided in item 12 of the Reference Form.

6. To resolve on the annual and global compensation of the managers in fiscal year 2021

Management proposes, by majority3, approval of annual and global compensation of the Company’s managers in fiscal year 2021, in an amount up to fifty-six million, one hundred and sixty-three thousand, five hundred and third five Brazilian Reais and seventy-six centavos (R$ 56,163,535.76) as provided in APPENDICES IV and V hereto.

7. To resolve on the annual and global compensation of the members of the Fiscal council in fiscal year 2021:

Management proposes approval of individual compensation of the members of the Fiscal Council, in an amount no less, for each member, than ten (10) percent of the average compensation allocated to the Company’s statutory Officers (with the exclusion of benefits, allowances for representation and profit sharing), as per Art. 162, 3, of the LSA, in the amount of up to two million, seventy-six thousand, seven hundred and sixteen Brazilian Reais (R$ 2,076,716), as provided in APPENDICES IV and V hereto.

3 Resolution approved with the favorable vote of all the members of the Board of Directors, except for director Mauro Gentile Rodrigues da Cunha. See minutes of the Company's Board of Directors Meeting held on February 19, 2021, available on the Company's IR website and IPE on the CVM website Extraordinary General Meeting

1. to resolve on the re-ratification of the annual and global compensation of managers in fiscal year 2020:

Management proposes re-ratifying the global compensation of the managers for fiscal year 2020, so that the approved amount shall reflect effective realized income, in an amount of fifty million, xix hundred and twenty- eight thousand, four hundred and ninety-one Brazilian Reais and fifty-seven centavos (R$ 50,628,491.57), instead of the originally approved forty eight million, six hundred and eighty-five thousand, seven hundred and thirty-three Brazilian Reais and four centavos (R$ 48,685,733.04).

Details on the above proposal can be found in APPENDICES IV and V hereto.

2. To resolve on amendments to Articles 1, 2 3, 5, 16, 20, 22, 26, 28, 32, 33, 37, 41 and 42, as per the Management Proposal:

To improve and update certain provisions of the Company’s Bylaws, Management proposes amending Articles 1, 2, 3, 5, 16, 20, 22, 26, 28, 32, 33, 37, 41 and 42 thereof.

Briefly described, the amendments propose (a) assigning to the Executive Board, rather than the Board of Directors, jurisdiction over amendment to subsidiaries’ statutes or bylaws, as well as the creation and termination of branches, offices and any other establishments on behalf of the Company, domestically or abroad (as per Articles 2 and 20); (b) amending the description of the Company’s purpose in such a manner as to exclude “animal husbandry”, which the Company does not carry out and is not compatible with its purpose (as per Article 3), being certain that this adjustment does not modify its current business segment of the Company and, therefore, if approved, it will not give rise to the right of withdrawal to dissenting shareholders; (c) increasing the Company’s authorized capital limit (as per Art. 5, 8); (d) including express provisions in the sense that the members of the Board of Directors and of the Executive Board may attend the respective meetings using electronic means capable of identifying the respective members (as per Article 22, 5); (e) setting the number of members of the Company’s Executive Board within the range from three (3) to ten (10) members (as per Art. 22, and its 1); (f) adding flexibility to the appointment process for proxies to the Company, so that any two members of the Executive Board, collectively, may do so, without one of them having to be the Chief Executive Officer (or, in the CEO’s absence or incapacitation, another Officer as appointed by the Board of Directors) (as per Article 26); (g) formally terminating the Advisory Board (as per Art. 28); (f) deleting Article 42, whose contents concern a temporary provision that no longer applies; and (g) replacing, as appropriate, the term “BM&FBovespa” with “B3 S.A. – Brasil, Bolsa, Balcão” (as per Articles 1, 32, 33, 37 and 41).

Pursuant to Article 11 of ICVM 481, APPENDIX VI hereto provides a comparative chart of the current letter of the Company’s Bylaws and the amended draft proposed by Management, with details on the origination, justification and effects of each proposed amendment. 3. To resolve on the consolidation of the Company’s Bylaws:

If the amendments to the Bylaws as described in foregoing item 2 are approved, management recommends approving the new consolidated version of the Bylaws, as per APPENDIX VII hereto.

APPENDIX I

MANAGEMENT’S COMMENTS (ITEM 10 OF THE REFERENCE FORM)

10. MANAGEMENT’S COMMENTS

10.1. Management Comments on: a) Overall financial and equity conditions

Management understands that the Company has the financial and equity conditions to maintain and develop its operations.

Revenues come from domestic and foreign market sales of packaging paper and board, short-fiber cellulose, long-fiber cellulose, cardboard boxes, paper bags, and timber.

The Executive Board’s financial strategy maintains a high cash position and a lengthy debt profile.

Ratios 12/31/2020 12/31/2019 12/31/2018

Current liquidity 2.98 4.40 2.93

General liquidity 0.41 0.57 0.54

Net debt-to-adjusted EBITDA 4.0 3.2 2.9

Adjusted EBITDA-to-Total assets 13.91% 12.46% 13.58%

Net Earnings-to-Shareholders’ Equity -62.71% 11.82% 2.97%

In the three fiscal years shown above, current assets exceed current liabilities by R$ 7.2 billion, R$ 10.6 billion and R$ 7.2 billion in 2020, 2019 and 2018, respectively, corresponding to current liquidity ratios of 2.98 at yearend 2020, 4.40 at yearend 2019 and 2.93 at yearend 2018. General Liquidity, too, was positive in the three fiscal years, at 0.41, 0.57 and 0.54, respectively.

In fiscal year 2019, the Company launched a new expansion project (Puma II) for the construction of two new paper mills, with forecast investment of R$ 9.1 billion, of which approximately R$ 1.3 billion were been disbursed in 2019 and R$ 4.0 billion in 2020, with impacts on the Company’s net debt. Furthermore, indebtedness in fiscal year 2020 endured sharp impact from the 29% depreciation of the Brazilian Real against the US Dollar, as the company had foreign currency-denominated debt in of approximately USD 4.0 billion at yearend 2020.

Adjusted EBITDA-to-Total Assets trended up in the fiscal years shown because of the stabilization of operations at the pulp plant (PUMA I) commissioned in 2016, of an increased demand for staple products, and of the currency depreciation in the wake of the pandemic. The ratio was down in 2019 because of the startup of construction works on Puma II, with the expenditure of R$ 1.3 billion on asset purchases without offsetting cash generation. In 2020, expenditures were R$ 4.0 billion for a total R$ 5.3 billion spent at yearend 2020. Commissioning of the two paper mills is expected to take place in July 2021 and July 2023.

The Company elects to use Adjusted EBITDA instead of Net Income because the latter disregards exchange rate effects on financial assets, the change in the fair value of biological assets, and depreciation and amortization, all of which are significantly present in the income statement, with effects on net income. b) Capital structure

The Company’s third-party capital includes financing secured with the financial and capital markets, largely to develop its fixed assets and lengthen its debt profile Own capital is made up of the Company’s shares, representing shareholders’ equity.

Based on the consolidated financial statements of December 31, 2020, the Company has 12% own capital and 88% third-party capital over total assets.

There are no cases of redemption of the Company’s shares except as provided in the Corporations Law.

Debt (R$ thousands) 12/31/2020 12/31/2019 12/31/2018 Short term 721,021 1,274,542 1,975,465 Long term 25,617,969 22,810,730 17,470,207 Gross debt 26,338,990 24,085,272 19,445,672 Cash, cash equivalents and securities (6,556,727) (9,730,915) (7,047,204) Net debt 19,782,263 14,354,357 12,398,496 Consolidated shareholders’ equity 4,384,761 6,501,273 6,533,230

c) Payment capacity vis-à-vis financial obligations

Given the Company’s debt profile, cash flow and liquidity position it has sufficient liquidity and cash to cover its investments, debt and other obligations coming due over the coming years, with sufficient cash to amortize 59 months of its debt. In 2020, the Company undertook a liability management effort so that the short-term portion of the debt decreased from 5% at yearend 2019 to 3% at yearend 2020, and the average maturity of the debt was extended from 96 months at yearend 2019 to 116 months at yearend 2020. If a need arises to secure financing for investment in new projects and acquisitions, the Company believes that it has the capacity to do so. The Company’s cash as of December 31, 2020 was sufficient to amortize approximately 81 months of its upcoming financial debt. As indicated in the announcement to the market of March 19, 2020, although Klabin faces highly volatile financial markets, it has a robust cash position, a lengthy debt profile, and 100%¨financing for the Puma II Project. d) Sources of financing used for working capital and investment in non-current assets

In addition to cash from its own operations and those of its subsidiaries, the Company raises funds in a variety of ways in the domestic and international markets, including bilateral, syndicated operations, with financing agencies and the capital markets to finance its working capital and investment in non-current assets. For major projects, the Company relies on financing facilities with BNDES and multinational import agencies, or the issue of shares and convertible or non-convertible securities. e) Sources of financing for working capital and investment in non-current assets that the Company intends to use to cover liquidity shortfalls

The Company has been facing no liquidity shortfalls.

Aside from its current cash position, Klabin’s liquidity position includes a revolving credit facility in the amount of five hundred (500) million US Dollars, available over a period of five years and at a financial cost of 0.4% p.a. If the facility is drawn against, the cost of financing would be Libor + 1.35% p.a. In addition, the Company also has access to as-yet undrawn funding facilities associated with the execution of the Puma II Project: (i) BID Invest, IFC and JICA, in the amount of seven hundred (700) million US Dollars (ii) Finnvera, in the amount of one hundred and seventy-eight (178) million US Dollars; and (iii) BNDES, in a total two (2) billion Brazilian Reais. As the COVID-19 pandemic and its developments deepen, the Company underscores that liquidity issues may arise in the international markets, making raising new funds unattractive at this point. f) Debt levels and characteristics

(R$ thousands) Annual Interest rate (% ) 12/31/20 12/31/19 12/31/18 Denominated in domestic currency . BNDES - Projeto Puma - - 1,678,295 . BNDES - Projeto Puma II TLP + 3.58 1,036,822 500,592 - . BNDES - Other TJLP 122,313 100,183 84,463 . BNDES - FINAME - 19,729 110,384 . Export credit notes 102-105.50 of CDI 694,922 983,531 2,925,262 CRA 95-102 of CDI or IPCA + 3.50%-IPCA + 4.51% 3,928,169 3,795,817 1,815,251 . Other 0.76- 8.5 or TJLP 10,411 20,898 37,359 (-) Comissions (102,495) (270,594) (65,429) 5,690,142 5,150,156 6,585,585 Denominated in foreign currency (*) . BNDES - Projeto Puma - - 1,094,332 . BNDES – Other - 12,648 43,530 . Prepaid export USD + 5.40 651,926 3,231,493 4,559,069 . Export credit notes 4.70-5.67 3,009,461 1,883,279 586,100 . BID Invest and IFC Libor + 1.59 522,103 - 841,479 .Finnvera USD + Libor + 0.60- 0.95 or USD + 3.38 1,405,318 988,983 1,115,071 . ECA EUR + 0.45% 40,490 33,991 38,428 . Gains losses from derivatives (swaps) 4.70-5.67 1,748,282 400,073 114,125 . Bonds (Notes) 4.88%-7.00% 11,737,196 8,277,741 3,947,634 . Prepaid exports (Notes) - 2,447,136 - (-) Comissions (298,731) (184,325) (142,357) 18,816,045 17,091,019 12,197,411 Total Financings 24,506,186 22,241,175 18,782,996 . 6th Debentures issue USD + 8.0 - - - . 7th Debentures issue IPCA + 2.5-7.5 92,796 620,308 662,676 . 12th Debentures issue 114.65% of CDI 1,740,008 1,223,789 - Total Debt 26,338,990 24,085,272 19,445,672

Short term 721,021 1,274,542 1,975,465 Long term 25,617,969 22,810,730 17,470,207 26,338,990 24,085,272 19,445,672 (*) In US Dollars i. material loan and financing agreements

BNDES The Company has executed agreements with BNDES to fund industrial and forestry development projects, social projects, and the paper production expansion project called Puma II, with settlement scheduled for 2039. Amortization is monthly, with payment of the respective interest bills. Prepaid exports and export credit notes Prepayment operations and export credit notes (in Brazilian Reais and US Dollars) have been contracted to manage working capital and develop the Company’s operations. Settlement is scheduled for completion by April 2029. The Company voluntarily carried out the early settlement of export prepayment operations and export credit notes in the amount of six point two (6.2) billion Brazilian Reais in the fiscal year ending December 31, 2020, in line with its debt reprofiling strategy. Bonds (Notes) The Company, through its wholly owned subsidiaries Klabin Finance S.A. and Klabin Áustria GmbH, issued Notes on the international market, listing them on the Luxembourg Exchange (Euro MTF) and the Singapore Exchange (SGX), as Senior Unsecured Notes 144A/Reg S. (i) USD 500 million were raised in July 2014, maturing in 10 years, with twice annual 5.25% coupon. The purpose is to fund the regular business of the Company and its subsidiaries, in line with the respective purposes. In April 2019, the Company repurchased USD 238 million, in line with its debt reprofiling strategy. (ii) In September 2017, the Company issued Green Bonds in the amount of USD 500 million, maturing in 10 years, in 2027, with twice annual 4.88% coupon. The funds are intended for reforestation, native woods restoration, investments in renewable energy, logistics efficiency, using railway transportation, solid waste recycling, and the development of environmentally efficient products, among other sustainability-related practices. In 2020, the Company bought back USD 9.5 million, in line with its debt reprofiling strategy. (iii) In March 2019, the Company raised USD 500 million, maturing in 10 years, in 2029, paying twice annual 5.75% coupon, and USD 500 million in Green Bonds maturing in 30 years, in 2049, paying annual 7% coupon. The purpose of the funds is to enable early repayment of debts of the Company and its subsidiaries, in addition to reinforcing the cash position. In 2020, the Company bought back USD 18.5 million, in line with its debt reprofiling strategy. (iv) In July 2019, the Bonds maturing in 2029 reopened for an additional nominal USD 250 million in funds raised, with 5.75% coupon and 4.90% annual yield. The purpose of the funds is to enable early repayment or refinancing of debts of the Company and its subsidiaries, as well as cash reinforcements. (v) In January 2020, Green Bonds maturing in 2049 reopened for an additional nominal USD 200 million in funds raised, with 7.00% coupon and 6.10% annual yield. The purpose is to fully or partly finance and/or refinance costs of and/or investments in eligible Green Projects. Finnvera (Finnish credit export agency) As part of the funding required to execute the Puma I Project, the Company executed a fundraising agreement with Finnvera. The amount of the obligation is up to USD 460 million, maturing in 2026 and divided into two tranches, the former of up to USD 414 million paying interest at 3.4% p.a., and the latter of up to USD 46 million paying interest at Libor 6M + 1% p.a. Two disbursements took place in 2015 for a total USD 325.7 million and a final USD 38.6 million disbursement was released in the final quarter of 2016, for a total USD 364.3 million. The amount raised in USD was lower than initially predicted because the imports were denominate in Euros and the US Dollar appreciated versus the Euro in that period. For the Puma II Project, the Company raised USD 67 million paying interest at Libor 6M + 0.55% p.a. and maturing in 2031. The Company voluntarily carried out the early liquidation of R$ 22 million in Finnvera agreements in the fiscal year ending December 31, 2020, in line with its debt reprofiling strategy. Term Loan (BID Invest and IFC) As part of the funding needed to execute the Puma II Project, the Company raised USD 100 million divided into two tranches, the former of USD 48 million paying interest at Libor 6M + 1.45% p.a., maturing in 2026, and the latter of USD 52 million, paying interest at Libor 6M + 1.75% maturing in 2029.

CRA – Agribusiness Receivables Certificates The Company issued debentures to provide the underlying assets for the issue of Agribusiness Receivables Certificates (“CRA”), as follows: (i) CRA I – issued by Eco Securitizadora de Direitos Creditórios do Agronegócio S.A in March 2017 in the amount of R$ 845.9 million, maturing in five years and paying twice-annual interest at 95% of CDI. (ii) CRA II – issued by Eco Securitizadora de Direitos Creditórios do Agronegócio S.A in December 2017 in the amount of R$ 600 million, maturing in 6 years and paying twice-annual interest at 97.5% of CDI. (iii) CRA III – issued by Ápice Securitizadora S.A in September 2018 in the amount of R$ 350 million, maturing in 6 years and paying twice-annual interest at 102% of CDI. (iv) CRA IV – issued by VERT Companhia Securitizadora in April 2019 in the amount of R$ 1 billion, split into two series. The first series is in the total amount of R$ 200 million, maturing in 7 years and paying twice- annual interest at 98% of CDI. The second series is in the amount of R$ 800 million, maturing in 10 years and paying twice-annual interest equal to the internal rate of return of Tesouro IPCA. (v) CRA V – issued by VERT Companhia Securitizadora in July 2019 in the amount of R$ 966 million maturing in 10 years and paying annual interest at IPCA + 3.5%. Derivatives (swaps) – gain/loss In December 2018, the Company raised funds with Banco Bradesco as a new export credit note in the amount of R$ 1,879 million maturing in 2026 paying interest at 114% of CDI, unsecured and covenant-free, coupled with two like-value FX/interest swaps in the same amount, but denominated in USD and paying interest at 5.6%, with the same maturity profile as the credit note, none of which instruments may be liquidated in separate. In March 2019, the Company executed with Banco Itaú a swap with an asset position at 114.65% of CDI and a liability at an annual 5.40% in USD. The operation is coupled with the 12th debentures issue, in the amount of R$ 1 billion, had in April 2018 as discussed in note 17 b). In May 2019, the Company executed a swap with Bradesco with an asset position at 114.03% of CDI and a liability position at an annual 4.70% in USD. The operation is coupled with the R$ 1,125 million export credit note executed in May 2019 with the same bank, maturing in May 2026. Derivatives gains and losses are marked to market, corresponding to their fair value and recognized as financial income/loss. The table next depicts the maturity schedule of the Company’s long-term financings as at December 31, 2020:

2028

Year 2022 2023 2024 2025 2026 2027 thereafter Total

Amount (R$ thousands) 1,302,000 1,085,000 1,846,000 2,036,000 4,441,000 3,682,000 11,225,969 25,617,969

Average financing maturity was 116 months at yearend 2020; it was 65 months for operations denominated in domestic currency and 128 for those denominated in foreign currencies. ii. other long-term ties with financial institutions The Company has no other long-term ties with financial institutions, except for those recognized and disclosed in its financial statements, and no debt subordination exists.

iii. debt subordination BNDES financings are secured by land, buildings. Improvements, machinery, equipment, and facilities of the Ortigueira-PR plants that are the purpose of the respective financings. Finnvera financings are secured by the manufacturing plants of Angatuba- SP, Piracicaba• SP, Betim - MG, Goiana - PE, Otacílio Costa - SC, SC, Jundiaí/Distrito Industrial - SP and Jundiaí/Tijuco Preto - SP and Lages - SC The BID Invest and IFC financing is secured by the Correa Pinto – SC and Telêmaco Borba – PR manufacturing plants. Export credit loans, export prepayments, Bonds, Agribusiness Receivables Certificates and working capital loans are uncollateralized. iv. any covenants by which the issuer must abide, in ´particular as concerns debt levels and securing new debt, dividends distribution, assets divestment, issue of new securities, and divestment of a controlling stake, as well as whether or not the issuer has been abiding by these covenants.

The Company and its Controlled Entities were under no financing agreements on the as-of date of the financial statements at hand that include covenants establishing an obligation to maintain certain ratios in association with income, liquidity or leverage compared to the contracted operations, or that make repayment of the debt immediately due. As the COVID-19 pandemic deepens, the Company underscores that liquidity issues may arise in the international credit markets, hampering access to new debt and financing. However, despite the financial markets’ increased volatility, Klabin’s cash position is robust, its debt profile is extended and funding for the Puma II Project is 100% contracted. Therefore, we see no evidence of liquidity risk for the Company at this point. g) Limits of financing agreements and percentages withdrawn

As disclosed in announcements to the market of October 31 and November 6, 2019, the Company has the following financing agreements in place on which it has made partial withdrawals, associated with execution of the Puma II Project.

Contract finanging - Puma II Project (R$ thousands) Financial Institution Amount Currency Rate Maturity Other information BNDES 3,000,000 BRL IPCA + 3,58 a.a. 20 anos Carência do principal de 2,5 anos BID Invest & IFC (A-Loans e Co-Loans) 378,000 USD LIBOR + 1,75 a.a. 10 anos Carência do principal de 3 anos BID Invest & IFC (B-Loans) 350,000 USD LIBOR + 1,45 a.a. 7 anos Carência do principal de 3 anos JICA 72,000 USD LIBOR + 1,45 a.a. 10 anos Carência do principal de 3 anos ECA (Export Credit Agency) - Finnvera 245,000 USD LIBOR + 0,55 a.a. 12 anos Carência do principal de 2,5 anos

Drawdowns Amount Financial Institution Currency 2019 Funding 2020 Funding % usage Contracted BNDES 3,000,000 BRL 500,000 500,000 33% BID Invest & IFC (A-Loans and Co-Loans) 378,000 USD - 51,923 14% BID Invest & IFC (B-Loans) 350,000 USD - 48,077 14% JICA 72,000 USD - - 0% ECA (Export Credit Agency) - Finnvera 245,000 USD - 66,953 27% h) Material changes to each item of the financial statements

The consolidated financial statements ahead accurately reflect the Company’s equity and financial positions and operational results for the respective periods.

Preparation of Financial Statements

The consolidated financial statements were prepared in accordance with the IFRS – International Financial Reporting Standards issued by the IASB – International Accounting Standards Board and the accounting practices in force in Brazil, based on the technical notices issued by the CPC - Comitê de Pronunciamentos Contábeis, which fully converge with the IFRS, and the standards of the Brazilian Securities Exchange Commission – CVM. Summary of Consolidated Financial Statements The tables below show the Company’s balance sheet and financial statements for the fiscal years ending December 31, 2020, 2019 e de 2018.

BALANCE SHEET (R$ thousand)

12/31/2020 12/31/2019 12/31/2018 CHANGE - HA (2) ASSETS 12/31/2020 12/31/2019 and and AV (1) AV (1) AV (1) 12/31/2019 12/31/2018 Current Cash and cash equivalents 5,208,830 15% 8,340,386 24% 5,733,854 19% -38% 45% Marketable securities 1,347,897 4% 1,390,529 4% 1,313,350 4% -3% 6% Trade receivables 1,806,918 5% 1,859,505 5% 2,040,931 7% -3% -9% Inventory 1,379,131 4% 1,332,244 4% 1,206,353 4% 4% 10% Taxes recoverable 824,771 2% 505,411 1% 269,728 1% 63% 87% Other assets 218,324 1% 245,869 1% 297,718 1% -11% -17% Total current assets 10,785,871 31% 13,673,944 39% 10,861,934 37% -21% 26%

Assets from items held for divestment 175,064 0% - 0% - 0% 100% 0%

Non-current Deferred taxes 765,099 2% - 0% - 0% 100% 0% Court deposits 118,843 0% 117,179 0% 86,658 0% 1% 35% Taxes recoverable 769,092 2% 1,944,656 6% 1,280,811 4% -60% 52% Other assets 175,502 0% 270,817 1% 300,757 1% -35% -10%

Investments . Interest in subsidiaries 256,072 1% 160,970 0% 165,652 1% 59% -3% . Other 12,372 0% 9,687 0% 7,607 0% 28% 27% Fixed 16,670,773 47% 13,241,181 38% 12,262,472 41% 26% 8% Biological assets 4,657,821 13% 4,712,381 14% 4,582,631 15% -1% 3% Right-of-use assets 808,420 2% 494,399 1% - 0% 64% 100% Intangible 75,332 0% 77,868 0% 85,221 0% -3% -9% Total non-current assets 24,309,326 69% 21,029,138 61% 18,771,809 63% 16% 12%

Total assets 35,270,261 100% 34,703,082 100% 29,633,743 100% 2% 17%

VA(1) Vertical Analysis

HA(2) Horizontal Analysis

BALANCE SHEET (R$ thousand) 12/31/20 20 12/31/2019 12/31/2018 CHANGE - HA (2) LIABILITIES AND SHAREHOLDERS’ 12/31/20 12/31/20 EQUITY 20 and 19 and VA VA VA 12/31/20 12/31/20 (1) (1) (1) 19 18 Current Loans and financings 652;983 2% 701;783 2% 1;913;779 6% -7% -63% Debentures 68;038 0% 572;759 2% 61;686 0% -88% 829% 2;003;02 Suppliers 9 6% 1;024;256 3% 903;752 3% 96% 13% Tax Liabilities 165;348 0% 67;079 0% 50;832 0% 146% 32% Social Security and Labor Liabilities 377;816 1% 301;288 1% 300;379 1% 25% 0%

Dividends payable - 0% 200;000 1% 250;000 1% -100% -20% Adhesion - REFIS - 0% - 0% 73;862 0% 0% -100% Lease liabilities 143;721 0% 100;509 0% - 0% 100% 100% Other payables and provisions 202;537 1% 136;849 0% 154;026 1% 48% -11% 3;613;47 Total current liabilities 2 10% 3;104;523 9% 3;708;316 13% 16% -16%

36;295 0% - 0% - 0% 100% 0%

Non-current 23;853;2 Loans and financings 04 68% 21;539;392 62% 16;869;217 57% 11% 28% 1;764;76 Debentures 5 5% 1;271;338 4% 600;990 2% 39% 112% Deferred income tax and social security - 0% 1;145;069 3% 959;906 3% -100% 19% Tax, social security, labor and civil provisions 51;951 0% 60;519 0% 64;118 0% -14% -6% Accounts payable – SCP investors 301;671 1% 333;183 1% 301;583 1% -9% 10% Adhesion - REFIS - 0% - 0% 265;587 1% 0% -100% Lease liabilities 679;591 2% 396;720 1% - 0% 100% 100% Other payables and provisions 584;551 2% 351;065 1% 330;796 1% 67% 6% 27;235;7 Total non-current liabilities 33 77% 25;097;286 72% 19;392;197 65% 9% 29%

Shareholders’ Equity 4;075;62 Capital stock 5 13% 4;076;035 12% 4;076;035 14% 10% 0% Capital reserves (365;791) -1% (350;622) -1% (361;231) -1% 4% -3% Revaluation reserves 48;705 0% 48;705 0% 48;705 0% 0% 0% Profit reserves - 0% 1;517;044 4% 1;748;219 6% -100% -13% Adjustment to equity valuation 823;476 2% 942;994 3% 977;122 3% -13% -3% Accumulated losses in the fiscal year (993;826) -3% - 0% - 0% -100% 0%

Treasury shares (177;884) -1% (187;274) -1% (196;615) -1% -5% -5% 3;810;30 Klabin Shareholders’ equity 5 11% 6;046;882 17% 6;292;235 21% -37% -4% Stake of non-controlling shareholders 574;456 2% 454;391 1% 240;995 1% 26% 100% 4;384;76 Consolidated equity 1 12% 6;501;273 19% 6;533;230 22% -33% 100%

35;270;2 100 100 100 Total liabilities and shareholders’ equity 61 % 34;703;082 % 29;633;743 % 2% 17%

VA(1) Vertical Analysis

HA(2) Horizontal Analysis

INCOME STATEMENTS FOR THE FISCAL YEARS ENDING (R$ thousand)

12/31/2020 12/31/2019 12/31/2018 CHANGE - HA (2) 12/31/202 0 and 12/31/2019 VA VA VA 12/31/201 and

(1) (1) (1) 9 12/31/2018

100 100 100 Net sales revenue 11,948,794 % 10,271,839 % 10,016,461 % 16% 3% Variation in fair value of biological assets 658,389 6% 390,053 4% 628,367 6% 69% -38% Cost of goods sold (7,885,299) -66% (7,241,234) -70% (6,342,406) -63% 9% 14% Gross profit 4,721,884 40% 3,420,658 33% 4,302,422 43% 38% -20%

Operating expenses/revenues

Sales (1,139,138) -10% (910,388) -9% (764,348) -8% 25% 19% General and administrative (717,799) -6% (600,959) -6% (558,205) -6% 19% 8% Other, net 316,696 3% 609,826 6% (2,228) 0% -48% 27,471% (1,540,241) -13% (901,521) -9% (1,324,781) -13% 71% -32%

Equity income 33,123 0% 7,237 0% 5,964 0% 358% 21%

Earnings before financial income/loss and taxes 3,214,766 27% 2,526,374 25% 2,983,605 30% 27% -15%

Financial income/loss Financial revenues 382,603 3% 1,022,661 10% 495,403 5% -63% 106% Financial expenses (3,791,000) -32% (2,274,238) -22% (1,548,790) -15% 67% 47%

Foreign exchange variation (3,620,734) -30% (410,271) -4% (1,998,799) -20% 783% -79%

(7,029,131) -59% (1,661,848) -16% (3,052,186) -30% 323% -46%

Earnings before income tax (3,814,365) 32% 864,526 8% (68,581) -1% -541% -1361%

Income tax and social contribution . Current (446,626) -4% 58,123 1% (322,236) -3% -868% -118%

. Deferred 1,871,501 16% (208,031) -2% 577,635 6% -1,006% -136% 1,424,875 12% (149,908) -1% 255,399 3% -1,050% -159%

Net earnings for the fiscal year (2,389,490) -20% 714,618 7% 186,818 2% -434% 283%

Allocated to Klabin’s shareholders (2,487,870) -21% 675,825 7% 137,455 1% -468% 392% Allocated to non-controlling shareholders 98,380 1% 38,793 0% 49,363 0% 154% -21%

From continued operations (2,382,541) 0% - 0% - 0% 100% 0% From discontinued operations (6,949) 0% - 0% - 0% 100% 0%

VA(1) Vertical Analysis

HA(2) Horizontal Analysis COMPARISON OF OPERATIONAL RESULTS IN THE FISCAL YEARS ENDING DECEMBER 31, 2020, AND 2019 Net revenue from sales Net operating revenue from sales in FY 2020 was R$ 11.9 billion, up 16% from 2019. Sales volume (ex- wood) was 3,554 thousand tons, up 7% YoY. The main impacts on net sales revenues in 2020 compared with 2019 were: (i) 15% increase in sales revenues in the Paper segment, from R$ 3.5 billion in 2019 to R$ 4.2 billion in 2020, and 21% increase in sales revenues in the Conversion segment, from R$ 3 billion in 2019 to R$ 3.6 billion in 2020, influenced by the strong presence in essential goods markets and e- commerce, which experienced strong demand during the pandemic, and the excellent operational performance of its units.

(ii) 11% increase in sales revenues in the Pulp Segment, from R$ 3.5 billion in 2019 to R$ 3.9 billion in 2020, with significant influence from the recovering demand in late 2020 in certain regions, and the US Dollar’s depreciation comparted to other global currencies, adding to product prices.

(iii) In October 2020, the Company complete acquisition of the assets of International Paper, which were responsible for generating R$ 271 million in additional Revenues in FY 2020.

(iv) Approximately 45% of the Company’s sales volume are allocated to the international market, where the exchange rate affects prices. In 2020, the average exchange rate was R$ 5.15 to the US Dollar, up 28% from 2019, boosting revenues from sales of export goods.

Variation in the fair value of biological assets The 2020 variation in the fair value of biological assets is equivalent to a R$ 648 million gain arising from increased productivity and extension of the forestry, in addition lower discount rates in terms of discounted cash flow. The effects of the change in the fair value of biological assets in 2019 corresponds to a R$ 390 million gain, arising from forest expansions and the revised discount rate used in calculations. In addition, the balance experienced a negative impact from the lower market prices of wood, from an average R$ 67/m3 at yearend 2018 to R$ 66/m3 at yearend 2019.

Cost of goods sold The cost of goods sold in 2020 was R$ 7.9 billion, exceeding the 2019 amount due mainly to the 7% increase in sales volume (ex- wood). I addition, the amount was largely affected by the costs of the scheduled stop of the pulp unit, and lower generation and sale of electric energy. Another contributing factor to the increase is a product mix with a larger share of paper and packaging materials, with higher cost value-added.

The best indicator for cost determination when volumes are not comparable is the analysis of the unit cash cost in BRL/t, which covers sales of all of the Company’s products and includes sales, general and administrative expenses. This indicator was R$ 2.037/t in 2020, up 3% from 2019, ex- the one-time tax credit gain arising from the res judicata court ruling in favor of the Company’s claim to remove the ICMS tax bill from the PIS and Cofins taxable base, which added R$ 620 million in FY 2019, and the gain from the advantageous purchase of International Paper’s assets in Brazil, in the amount of R$ 206 million in 2020. The minor 3% increase in the unit cash cost R$ /t was feasible due to the dilution of costs arising from the increased sales volume, as well as to increased efficiency at the Tall Oil plant, reducing the fuel and energy consumption over the year. On the other hand, in addition to inflation impacts in 2020, the Company experienced an increase in the cost of wood due to the greater average-felling radius and increased volume of wood purchased from third parties. Operating expenses/revenues: (i) Sales Sales expenses in 2020 were R$ 1.139 billion, up 25% from 2019 and representing 10% of the net sales revenues (versus 9% in 2019). At yearend 2018, Klabin put an early end to the supply arrangement it had with Fibria/Suzano for sales of short-fiber cellulose outside of South America, which Klabin took over in full from August 2019. The agreement was a free on board – Port of Paranaguá operation and the costs, which were previously deducted from the applicable price, have since then been booked in Klabin’s sales expenses line. (ii) General and administrative General and administrative expenses were R$ 718 million in 2020, up 19% from 2019. The increase is due mainly to greater investment in information technology and engineering and design advisory services, in addition to COVID-19-related expenses including donations and services to reinforce the Company’s healthcare protocols.

(iii) Other, net Other net operating revenues/expenses amounted to R$ 317 million in revenues in 2020, influenced mainly by the R$ 206 million gains in goodwill from the acquisition of International Paper’s assets, and R$ 63 million in connection with an insurance event payment.

Concerning FY 2019, particular notice is due on the effects of the non-recurring gain from the res judicata ruling regarding exclusion of the ICMS tax bill from the PIS and Cofins taxable base, in the amount of R$ 621 million.

Financial results

Financial income in FY 2020 was R$ 383 million, down 63% form 2019’s R$ 1 billion. The decrease was mainly due to the monetary restatement of tax credits associated with the res judicata ruling in favor of the Company’s plea to exclude the ICMS tax bill from the PIS and Cofins taxable base, adding R$ 384 million in 2019. Another effect was the lower income from financial investments because of the reduced cash position and lower market interest rates.

Financial expense 2020 was R$ 3.8 billion, up 67% from 2019’s R$ 2.3 billion. The increase is due to the greater gross debt in the wake of the Company’s liability management process, with costs incurred from the early liquidation of loans and financings, in addition to increased indebtedness and costs from financial instruments (Swaps). Net foreign exchange variation increased to R$ 3.6 billion in expenses from R$ 410 million in 2019. The increase is due to the 28% depreciation of the US Dollar relative to the Brazilian Real in 2020. The change affects the balance sheet’s foreign currency entries, in particular loans and financings of approximately USD 4 billion, and has no net impact on cash as US Dollar-denominated export transactions exceed US Dollar- denominated obligations. Because of the foregoing, the financial result was R$ 7 billion in expenses in 2020, compared to R$ 1.7 billion in 2019. Current and deferred income tax and social contribution In 2020, the Company recognized R$ 1.4 billion in income tax and social contribution, with a positive impact on Net Income arising largely from the R$ 1.8 billion in deferred taxes due to the adoption of the cash regime for foreign exchange rate variations. In 2019, the Company’s income tax and social contribution bill was R$ 149 million, due to higher taxable income arising from improved operational results.

Net Income/Loss The Company posted a net loss FY 2020 of R$ 2.389 billion, mainly due to high financial expenses, influenced by foreign exchange variations given the Brazilian Real’s depreciation versus the US Dollar. In addition, concerning net income/loss, the Company underscores R$ 7 million recognized in separate because they concern the Nova Campina (SP) unit, which was listed in the discontinued operations line because of its divestment, planned to take place in the first quarter of 2021. Adjusted EBITDA

12/31/2020 12/31/2019 (=) Net profit (loss) for the period (2,389) 715 (+) Income tax and social contribution (1,425) 150 (+/-) Net financial result 7,029 1.662 (+) Amortization, depreciation and exhaustion in the result 2,383 2.193 EBITDA 5.598 4,720

Adjustments pursuant to CVM Inst. 527/12 (+/-) Variation in the fair value of biological assets (658) (390) (+/-) Equity income (33) (7) Adjusted EBITDA 4.906 4,322

(+/-) Court ruling, ICMS as PIS/COFINS taxable base - (621) (+/-) Goodwill (206) - Adjusted EBITDA (ex- non-recurring effects) 4.700 3,702 (*Amounts in R$ million)

The Company’s operational cash generation (Adjusted EBITDA ex- non-recurring effects) in 2020 was R$ 4.7 billion, from R$ 3.7 billion in 2019, up 27% YoY.

COMPARISON OF OPERATIONAL RESULTS IN THE FISCAL YEARS ENDING DECEMBER 31, 2019, and 2018 Net revenue from sales Net operating revenue from sales in FY 2019 was BRL 10.3 billion, up 3% from 2018. Sales volume (ex- wood) was 3,327 thousand tons, up 4% YOY. The main impacts on net sales revenues in 2019 compared with 2018 were: (i) 11% increase in sales revenues in the Paper segment, up from BRL 3.2 billion in 2018 to BRL 3.5 billion in 2019, boosted by a 15% increase in revenues from paper exports, up from BRL 1.4 billion to BRL 1.6 billion in 2019, a 12% increase in board exports, taking advantage of its privileged sales position and distinctive product technology, enabling new markets to develop. In addition, with the drop in international kraftliner markets, the Company used its flexibility to allocate sale to the domestic market, increasing net revenues from the domestic market by 7%. (ii) 5% increase in sales revenues in the Conversion segment, from BRL 2.9 billion in 2018 to BRL 3 billion in 2019, allocating a greater volume of paper to packaging production in pursuit of improved returns, taking advantage of the Brazilian economy’s growing demand. (iii) 5% decrease in sales revenues in the Pulp segment, from BRL 3.7 billion in 2018 to BRL 3.5 billion in 2019, with significant impact from an approximately 26% price retraction over the course of 2019. Operationally, despite the drop in prices, the company increased its production volume in 2019 beyond nominal production capacity, as reflected in the 6% increase in pulp sales by volume compared with FY 2018. (iv) An approximate 50% of the Company’s sales by volume are allocated to the international market, where the foreign exchange rate affects prices. In 2019, the average BRL-to-USD exchange rate was 3.95, up 8% from 2018, boosting sales revenues in the international market.

Variation in the fair value of biological assets The 2019 change in the fair value of biological assets corresponds to a BRL 390 million gain from forest growth and the revised discount rate used in calculations. In addition, the balance had negative impact from the lower prices used for valuation purposes, from an average BRL 67/m3 at yearend 2018 to BRL 66/m3 at yearend 2019. The effect of the change in the fair value of biological assets in 2018 corresponds to a BRL 628 million gain, with positive impact from the higher prices used for valuation, from an average BRL 63/m3 at yearend 2017 to BRL 67/m3 at yearend 2018, in addition to normal forest growth.

Cost of goods sold The cost of goods sold in 2019 was BRL 7.2 billion, up from 2018 due mainly to the 4% increase in sales volume (ex- wood). The best indicator for cost determination when volumes are not comparable is the analysis of the unit cash cost in BRL/t, which covers sales of all of the Company’s products and includes sales, general and administrative expenses. This indicator was BRL 1,975/t in 2019, up 5% from 2018, ex- the one-time tax credit gain associated with a court decision that became res judicata in favor of the Company’s claim to exclude ICMS from the PIS and COFINS taxable base, amounting to BRL 620 million. The 5% increase is largely due to inflation on the Company’s costs. Operating expenses/revenues: (i) Sales Sales expenses in 2019 were BRL 910 million, up 19% from 2018, and answering for 9% of the period’s net sales revenue, up 1% from 2018. In addition to the 4% increase in sales volume in 2019, the gain concerns costs incorporated after the expiration of the supply agreement with Fibria/Suzano. Sales were previously made under the free-on-board regime, where the customer is responsible for costs. With the end of the operation, the Company began to include these costs into its operations. (ii) General and administrative General and administrative expenses were BRL 601 million in 2019, up 8% from 2018. In addition to the period’s inflation, the increase is explained by topical spending on consultancy and on administrative restructuring, which helped optimize the Company’s corporate structure. (iii) Other operating, net In 2019 the company had a non-recurring tax credit gain from a sentence that became res judicata, supporting the Company’s claim to exclude ICMS from the PIS and COFINS taxable base. The BRL 1 billion was recognized as follows BRL 384 million to financial income, and BRL 631 million to Other operating expenses, net.

Financial income

Financial revenue in 2019 was BRL 1 billion, up from 2018’s BRL 495 million. The increase is mainly due to the restatement of tax credits in the light of the sentence that became res judicata, recognizing the Company’s claim to exclude ICMS from the PIS and COFINS taxable base, retroactive to April 2002, resulting in an effect of BRL 384 million. Financial expenses were BRL 2.3 billion in 2019, up 47% from 2018’s BRL 1.5 billion. The increase is due to the increase in net debt after the Company’s liability management process, with costs involving early settlement of loans and financings, in addition to increased debt and costs arising from financial instruments (swaps). Net foreign exchange variation was down to an expense of BRL 410 million, vis-à-vis BRL 2 billion in 2018. This was due to the 8% appreciation of the US dollar versus the Brazilian real, whereas in 2018 the US currency appreciated 15% against the domestic one in 2017. This change affects the balance sheet’s foreign- currency balances, mainly loans and financings, and has no net impact on cash, as US Dollar-denominated export transactions exceed US Dollar-denominated obligation payments. Because of the foregoing, financial income decreased to expenses of BRL 1.7 billion in 2019 versus BRL 3 billion in expenses in 2018.

Current and deferred income tax and social contribution In 2019, the Company recognized a BRL 149 million Income tax and social contribution expense due to increased taxable income arising from improved operational results. In 2018, the balance of income tax and social contribution was up BRL 255 million, under sharp impact the deferred foreign exchange variation expense because of the endorsement of the cash regime for FX effects for tax purposes. The decision was reversed in 2019, when the company returned to accrual basis.

Net Income The Company had BRL 715 million in net income in 2019, due to its strong cash operational cash generation.

Adjusted EBITDA 12/31/2019 12/31/2018 (=) Net income )loss) for the fiscal year 715 187 (+) Income tax and social contribution 150 (255) (+/-) Net financial income 1,662 3.052 (+) Amortization, depreciation and impairment 2,193 1.673 EBITDA 4.720 4,657

Adjustments pursuant to CVM Inst 527/12 (+/-) Change in the fair value of biological assets (390) (628) (+/-) Equity income (7) (6) (+) Realization of cost allocated to fixed assets - land - 2 Adjusted EBITDA 4.322 4,024

(+/-)Court ruling, ICMS as PIS/COFINS taxable base (621) - Adjusted EBITDA (ex- non-recurring effects) 3.702 4,024 (*amounts in R$ million)

The Company’s operational cash generation (adjusted EBITDA ex- non-recurring effects) in 2019 was R$ 3.7 billion versus R$ 4 billion in 2018, down 8% YoY.

COMPARISON OF THE MAIN BALANCE SHEET ACCOUNTS ON DECEMBER 31, 2020, AND 2019

CURRENT ASSETS Cash and cash equivalents and securities The Company had a balance of R$ 6.6 billion in cash and cash equivalents and securities at yearend 2020, answering for 19% of total assets. The R$ 3.1 billion decrease from yearend 2019 (R$ 9.7 billion) is mainly due to disbursements for the Puma II Project, of approximately R$ 4 billion over the course of 2020, and the early liquidations of Finnvera prepaid exports and export credit notes, in the respective amounts of R$ 6.2 billion and R$ 22 million.

Customer accounts receivable The balance of customer accounts receivable was R$ 1.8 billion on December 31, 2020, down 3% from December 31, 2019’s R$ 1.9 billion. The decrease is due to the reduced average days’ payment and the effects of drawee risk operations. Non-recourse receivables discount operations were conducted with specific customers in 2020 in the amount of R$ 2.7 billion, versus R$ 2.4 billion in 2019. Average days’ payment was 82 days for domestic market sales in 2020, and approximately 112 days for foreign market sales.

Inventories On December 31, 2020, the Company had R$ 1.4 billion in inventories, up 6% from yearend 2019, due to the purchase of inputs to meet the high demand for the Company’s products. ASSETS (LIABILITIES) FROM ASSETS RETAINED FOR DIVESTMENT Due to the divestment process of the Nova Campina (SP) unit, acquired together with the International Paper assets, assets in the amount of R$ 175 million and liabilities in the amount of R$ 36 million from that unit are recognized separately in the balance sheet, pursuant to the applicable accounting standards. NON-CURRENT ASSETS Taxes recoverable The balance of taxes recoverable in current and non-current assets at yearend 2020 was R$ 1.5 billion, down from the R$ 1.9 billion booked on December 31, 2019. The decrease is mainly due to the use of approximately R$ 500 million in tax credits recognized in 2019 in connection with the res judicata court ruling in favor of the Company’s plea to exclude the ICMS tax bill from the PIS and Cofins taxable base, in the amount of R$ 1 billion. Deferred income tax and social contribution The balance of deferred taxes emerges from temporary differences in the netting of assets and liabilities. In 2020, the balance of deferred of income tax and social security shifted from a R$ 1.1 billion liability into a R$ 770 million asset. Of particular relevance in the variation are the effects of foreign exchange fluctuations arising from the adoption of the cash regime for income tax purposes. Temporary losses from foreign exchange variations of book income were excluded from the taxable base for income tax purposes, resulting in a deferred asset of R$ 888 million in addition to R$ 637 million in losses from financial instruments (swaps), which FY 2020’s foreign exchange variation also affected. Fixed assets The balance of fixed assets on December 31, 2020, was R$ 16,7 billion, equivalent to 47% of total assets, from R$ 13.2 billion on December 31, 2019, equal to 38% of total assets. As concerns the variation in the line, particular emphasis is due on the disbursement of R$ 4 billion in 2020 associated with the Puma II Project and the acquisition of International Paper do Brasil Ltda assets in the amount of R$ 410 million, considering the historic cost of the acquisition and the goodwill gains made in the operation. Right-of-use assets On December 31, 2020, the balance of right-of-use assets was R$ 808 million, up 64% from 2019 because of new land lease operations executed in FY 2020. Right-of-use assets concern the rental/lease of land, machinery, equipment and buildings for which the company has asset-side agreements. Biological assets The Company’s biological assets valued at fair value were R$ 4.7 billion on December 31, 2020, equivalent to 13% of total assets, in line with 2019 amounts.

CURRENT LIABILITIES Suppliers On December 31, 2020 the balance of supplier accounts payable was R$ 2 billion, up 98% from 2019’s R$ 1 billion. The increase is significantly due to procurement for the Puma II Project, which amounted to R$ 4 billion in 2020, to the increase in average days’ payment from 51 days in 2019 to 67 days in 2020, and to drawee risk operations that the Company offers to suppliers, from R$ 137 million at yearend 2019 to R$ 249 million at yearend 2020. NON-CURRENT LIABILITIES Loans and financings The balance of loans and financings was R$ 653 million in current liabilities and R$ 28.9 billion in non-current liabilities on December 31, 2020, from R$ 702 million in current liabilities and R$ 21.5 billion in non-current liabilities on December 31, 2019, for a 4% YoY increase in the total balance. The balance of loans and financings, considering both current and non-current liabilities, corresponds to 70% of total liabilities and shareholders’ equity on December 31, 2020, versus 64% on December 31, 2019. Of particular relevance is the 28% appreciation of the US Dollar against the Brazilian Real in 2020, raising the outstanding balance in Brazilian Reais of the foreign currency-denominated debt to 78% of the balance of Loans and Financings at yearend 2020. Debentures The balance of debentures as current and non-current liabilities was R$ 1.8 billion, equivalent to 5% of total liabilities, on December 31, 2020, steady from FY 2019. In FY 2020 the Company amortized the 7th issue (1st series), capitalizing the converted debentures as equity stock in the amount of R$ 399 million, partly offset by the restatement of financial instruments (swaps) in the amount of R$ 526 million due to the effects of foreign exchange variations.

COMPARISON OF THE MAIN BALANCE SHEET ACCOUNTS AS OF DECEMBER 31, 2019, AND 2018 CURRENT ASSETS Cash and cash equivalents and securities The Company had a balance of BRL 9.7 billion in Cash and cash equivalents and securities at yearend 2019, representing 28% of total assets, up BRL 2.7 billion from yearend 2018 (BRL 7 billion). This is mainly due to new funds raised and operational cash generation in the period. Customer accounts receivable The balance of customer accounts receivable was BRL 1.9 billion in December 31, 2019, down 9% from December 31, 2018’s BRL 2 billion. The decrease is due to lower selling prices, particularly in the pulp segment. Average days’ payment was approximately 86 days for domestic sales and 117 days for foreign sales. Inventories On December 31, 2019, the Company had BRL 1.3 billion in inventories, up 10% from yearend 2018. The increase is due to increased pulp production volume. NON-CURRENT ASSETS Taxes recoverable The balance of taxes recoverable in non-current assets as of December 31, 2019, was BRL 1.9 billion, up from the BRL 1.3 billion recognized on December 31, 2018. The increase is mainly due to the tax credits gain arising from the court sentence that passed into res judicata, recognizing the Company’s claim to remove ICMS from the PIS and COFINS taxable base, retroactive to April 2002, in the amount of BRL 1 billion. Fixed assets The balance of fixed assets on December 31, 2019, was BRL 13.2 billion, equivalent to 38% of total assets, versus BRL 12.3 billion on December 31, 2018. Concerning the change, we underscore disbursements for the Puma II Project for the construction of two paper mills with integrated pulp production, in the amount of BRL 1.3 billion. Right-of-use assets On January 1, 2019, the Company adopted the new technical accounting standard CPC 06 (R2)/IFRS 16 – Lease Operations, which requires balance-sheet recognition of asset leases, rent, and land leases. Because of IFRS 16, on December 31, 2019, the Company recognized BRL 494 million in connection with rights to use land, machinery, equipment and buildings for which it maintains rent/lease agreements. Biological assets The Company’s biological assets valued at fair value were BRL 4.7 billion on December 31, 2019, equivalent to 14% of total assets, and BRL 4.6 billion on December 31, 2018, for 13% of total assets. The main element in the increase balance corresponds to standing trees purchase agreements entered into over the course of 2019.

CURRENT LIABILITIES Suppliers As of December 31, 2019, the balance of Suppliers was BRL 1 billion, up 13% from 2018’s BRL 904 million. The increase is due to the greater average days’ payment, from 50 in 2018 to 51 in 2019, due to drawee risk operations that the company offers to suppliers, in addition to investment in fixed assets acquisitions associated with Puma II. NON-CURRENT LIABILITIES Loans and financings The balance of loans and financings was BRL 702 million in current liabilities and BRL 21.5 billion in non- current liabilities on December 31, 2019, from BRL 1.9 billion in current liabilities and BRL 16,9 billion in non-current liabilities on December 31, 2018, up 18% YoY. The balance of loans and financings, considering current and non-current liabilities, was 64% of total liabilities and shareholders’ equity as of December 31, 2019, from 55% on December 31, 2018. The increase in gross debt arises from funds raised in connection with the Company’s liability management process, lengthening average maturity from 48 to 96 months at yearend 2019, and the investments associated with the Puma II Project. Over the course of 2019 the Company secured new financing, such as the issue of Agribusiness Receivables Certificates (CRA) in the amount of BRL 2 billion, and the issue of bonds for a total USD 750 million. Also noteworthy is the 4% gain of the US Dollar versus the Brazilian Real in 2019, increasing the outstanding foreign currency-denominated debt, which corresponded to 76% of the balance as of December 31, 2019. Debentures The balance of debentures, considering both current and no-current obligations, was BRL 1.8 billion, or 6% of total liabilities, on December 31, 2019, versus BRL 663 million at yearend 2018. The increase is due to the 12th issue, in the amount of BRL I billion, which the Company carried out in 2019. Deferred income tax and social contribution As of December 31, 2019, the balance of deferred Income tax and social contribution constituted on temporary differences and recognized in the balance sheets as assets and liabilities correspond to BRL 1.1 billion in liabilities, from BRL 960 million on December 31, 2018. The change seen in 2019 corresponds to the amount won in the legal proceedings to exclude ICMS from the PIS and COFINS taxable base. The Company’s main temporary differences concern the fair-value valuation of biological assets, the cost assigned to fixed assets (land), which will have no cash effect when realized, and the deferred foreign exchange rate variation and credits on losses and accumulated negative bases. 10.2. Management comments on: a) Results of the Company’s operations i. description of any material components of revenues

The Company positions itself the domestic market with emphasis on the packaging paper and packaging paper for food, liquids (refrigerated and dairies), beverages (sodas and beers), hygiene and cleaning, personal care, and pharmaceuticals, in addition to paper bags (cement, mortar, flour, seed and other) and fluff pulp. As for the international market, growth is based on the markets for pulp, liquid packaging board as global supplier to Tetra Pak, folding boxboard (frozen products, hygiene and cleaning – Europe, USA and Mercosur) and kraftliner.

The Company sold 55% of its sales volume in the domestic market in 2020. The domestic/international sales mix is an important element in net revenues formation. The table next shows the volume of sales and net revenues from sales for the past three fiscal years.

2020 2019 2018 Sales volume 1000 t % 1000 t % 1000 t % Domestic market 1,957 55% 1,769 53% 1,589 50% Exports 1,601 45% 1,558 47% 1,600 50% Total 3,558 100% 3,327 100% 3,189 100% Wood 1,521 1,706 2,109

2020 2019 2018 Net Revenue R$ million % R$ million % R$ million % Domestic market 6,995 59% 6,114 60% 5,533 55% Exports 4,954 41% 4,158 40% 4,483 45% Total 10,272 100% 10,272 100% 10,016 100%

Breakdown of net revenues 2020 2019 2018

by product Coated boards 25% 24% 21% Corrugated cardboard 23% 21% 20% Pulp 33% 34% 36% Kraftliner 10% 10% 9% Industrial bags 8% 8% 8% Wood 2% 2% 3% Other 0% 1% 3%

The sales mix across regions is also a very important element in the Company’s sales breakdown, as prices, freight and delivery terms vary between locations. ii. factors materially affecting operational results In 2020, the Company acquired the Brazilian packaging papers and corrugated cardboard business of International Paper do Brasil. Under the operation, the fiscal year’s results recognized goodwill in the amount of R$ 206 million in the process of measuring the fair value of the assets and liabilities acquired. In 2019, Klabin recognized a one-time tax credit in connection with a res judicata court ruling in favor of the Company’s claim to exclude the ICMS tax bill from the PIS and Cofins taxable base, with a positive effect on the Company’s EBITDA in the amount of R$ 620 million. b) Change in revenues associated with changes in prices, foreign exchange rates, inflation, volume, and the introduction of new products and services The prices of the Company’s products vary depending on the balance of supply and demand in the domestic and international markets. Products are priced differently in the various segments in which the Company operates, and are under heavy influence of GDP. Inflation, economic activity level in Brazil and around the world, interest rate changes, tax burden, variation of the Brazilian Real against foreign currencies, the market price of pulp, paper shavings price, and natural phenomena affecting wood supply. Prices are usually cyclic and subject to factors beyond Klabin’s control. The international prices of paper and pulp are, in most cases, denominated in US Dollars. The Company exported 45% of its sales volume in 2020. Therefore, the foreign exchange rate is an important element for the company’s net revenues. In the past three years, the exchange rate (selling rate) varied as follows:

2020 2019 2018 2020/2019 2019/2018

FX Rate R$ R$ /US$ R$ /US$ % % /US$ Average US 5.16 3.95 3.66 31% 8% Dollar Yearend US 5.20 4.03 3.87 29% 4% Dollar

Net sales revenue in the foreign market was R$ 4.9 billion in 2020, up 19% from the previous year, when export revenues were R$ 4.2 billion. In 2018, net export revenues were R$ 4.5 billion. The Company’s revenues and costs are affected by inflation. The domestic market prices of paper products, as well as the cost of production inputs and labor, tend to vary with Brazilian inflation indices. c) Impact of inflation, of price changes for the main inputs and outputs, of foreign exchange rates, and of the interest rate on the issuer’s operational and financial results For materials, in addition to the IPCA, the variation of certain commodities – such as fuels – applies to determine freight price adjustments. The Company’s operational results are influenced by inflation and foreign exchange rate variations, as, in 2020, 41% of net revenues came from foreign sales. Financial results are affected by changes in the Funds Rate and other rates affecting financial investments; in the TJLP, which applies to domestic currency-denominated debt, and the foreign exchange rate, which applies to foreign currency-denominated financing. 10.3. Management’s Comments on the effects of effective and expected events on the Company’s financial statements and results: a) Introduction or divestment of an operating segment No operating segments were introduced or divested in 2020, 2019 and 2018. b) Creation, acquisition or divestment of an equity stake In the fiscal year ending December 31, 2020, the Company created, acquired or divested following equity stakes:

i. On January 21, 2020, the Company formed Pinus Taeda Florestal S.A., A Special Purpose Entity (SPE), together with a Timber Investment Management Organization (TIMO), whose main purpose shall be exploration of forestry activities in the Central-South Region of Paraná State, enabling access to new land to increment the Company’s forest base.

ii. On October 14, 2020, the Company acquired the assets of International Paper do Brasil Ltda. These assets have production capacity for 305 thousand annual tons of corrugated cardboard. The acquisition also includes packaging paper units (virgin and recycled fiber) with total capacity for 310 thousand annual tons. The transaction aligns with the Company’s strategy for growth in the paper and paper packaging businesses, expanding operational flexibility and adding stability to the bottom line. On June 24, 2020, during the acquisition process, the assets located in the city of Nova Campina (SP) were negotiated with the Klingele Paper & Packaging Group, and the sale was completed in January 2021.

iii. On September 09, 2020, the Company formed Aroeira Reflorestadora S.A., a Special Purpose Entity (SPE), whose main purpose is to explore forestry activities in the state of Santa Catarina. Upon execution of the company, an advance was provided for future capital increase (“adiantamento para futuro aumento de capital” – AFAC) in the amount of R$ 20 million for the purposes of acquiring and leasing land for planting forests.

iv. On November 26, 2020, the Company took over SOGEMAR – Sociedade Geral de Marcas, the owner of brands involved in the royalty agreement. As a result of the operation, Klabin became the owner of Sogemar brands, with the consequent termination, on that date, of the respective license agreement and ceasing payment of royalties for said brands.

v. On November 12, 2020, the Company formed Kla Holdings S.A. (“Kla Holdings”) for the purposes of holding stakes in other companies, in line with the Company’s corporate strategy.

vi. On November 09, 2020, the Company took over Sociedade em Conta de Participação CG Forest (“SCP CG Forest”), at the decision of its partners upon the winding down of the entity’s operations.

vii. At year end 2020 the Company wound down its overseas subsidiaries Klabin Limited, Klabin Trade and Klabin Overseas, in addition to domestic subsidiary Celucat. The respective operations ceased because the companies were inactive and without prospects of operational utility.

In the fiscal year ending December 31, 2019, the Company created, acquired or divested following equity stakes:

i. On March 28, 2019, the Company formed Cerejeira Reflorestadora S.A., a Special Purpose Entity (SPE), whose main purpose is to explore forestry activities in the state of Paraná. The entity is undergoing structuring and has no active operations.

ii. On July 26, 2019, the Company formed Sapopema Reflorestadora S.A, a Special Purpose Entity (SPE), together with a Timber Investment Management Organization (TIMO), whose purpose is to explore forestry activities in the state of Paraná.

iii. On October 21, 2019, the Company formed the wholly-owned subsidiary "Klabin Paranaguá SPE S.A". The Company’s sole and exclusive purpose is to explore the lease of areas, port facilities and public infrastructure within the Port of Paranaguá, to carry out unloading (offloading, internal handling, storage and shipment) and loading (receipt, storage, internal handling and loading) of general cargo, in particular paper and pulp.

In the fiscal year ending December 31, 2018, the Company created, acquired or divested following equity stakes:

i. Formation of the Special Purpose Entity "Guaricana Reflorestadora S.A." together with a Timber Investment Management Organization in December 2018, with the injection of BRL 142 million in forest assets (BRL 101 million, discounting deferred taxes on the fair value of biological assets) and BRL 869 thousand in cash for working capital from Klabin S.A and BRL 192 million in cash from the Timber Investment Management Organization, of which BRL 190 million were used to acquire forest assets from third, comprising 11,541 hectares of rural land in Santa Catarina, of which 7,644 hectares are tillable area, of which 7,141 are currently planted, at a cost of BRL 123 million in forests and BRL 67 million in land. c) Unusual events or operations No unusual events or operations took place in fiscal years 2020, 2019 and 2018 that have not been specified elsewhere.

10.4. Management’s comments on material changes in accounting practices – Auditors’ reservations and emphasis:4 a) Material changes in accounting practices No material accounting practice changes worth emphasizing took place in fiscal years 2020 and 2018.

In FY 2019, the IASB and CPC approved and issued new standards, which went into force and were effectively adopted from January 1, 2019.

(i) IFRS 16- Lease Operations (CPC 06 (R2) - Operações de Arrendamento Mercantil) The new standard replaces IAS 17 - "Lease Operations " and constructions thereof, providing that lessees must now recognize the liability from future payments of “lease liabilities” and the right to use the leased asset “right-of-use assets” in connection with virtually all lease agreements.

(ii) IFRIC 23 – Uncertainty Surrounding the treatment of Taxes on Earnings (CPC 22 - Incerteza sobre Tratamento de Tributos sobre o Lucro)

The new interpretation provides requirements for recognition and measurement in situations where the Company has defined, during the process of ascertaining taxes on earnings (Income tax and social contribution), the use of uncertain tax treatments that may come into question before tax authorities.

The Company’s Management now considers aspects of IFRIC 23 (ICPC 22) and has revised judgments made while ascertaining Income tax and social contribution, concluding that no uncertain treatments have been used in its financial statements, as all procedures associated with payment of taxes on earnings are backed by the applicable law and legal precedent. b) Material effects of accounting practice changes

4 At the time of the annual submission of the Reference Form, the information must concern the 4 past fiscal years. The table below shows the balance-sheet effects in BRL thousands of the adoption of the new CPC 06 (R2)/ IFRS 16 standard on January 1 and December 31, 2019:

Effect s of IFRS 16 on t h e Consolidat ed Balance Sh eet on

A sset s Liabilities 01/01/19 12/31/19 01/01/19 12/31/19

Cu rrent - Cu rrent 90,477 100,510 Lease liabilities 9 0,4 7 7 1 00,5 1 0

Non-cu rrent 372,893 481,287 Non-cu rrent 282,416 396,719 Right-of-use assets 3 7 2 ,89 3 4 9 4 ,3 9 9 Lease liabilities 2 82 ,4 1 6 3 9 6 ,7 1 9 Biological assets - (1 3 ,1 1 2 ) Sh areh olders' Equ it y - (15,942) Accumulated profits - (1 5 ,9 4 2 )

T ot al 372,893 481,287 T ot al 372,893 481,287

No material accounting practice changes took place in fiscal years 2020 and 2018. c) Auditors’ reservations and emphasis External audit reports for the financial statements for the fiscal years ending December 31, 2020, 2019, and 2018 included no reservations or emphasis.

10.5. Management’s comments on the Company’s critical accounting policies (in particular accounting estimates on uncertain matters relevant to describe the Company’s financial status and results, requiring subjective or complex judgment, such as: provisions, contingencies, booking of revenues, tax credits, long-term assets, the useful life of non-current assets, pension plans, foreign currency exchange adjustments, environmental recovery costs, asset impairment criteria, and financial instruments) The Company’s consolidated financial statements are prepared according to the International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), in line with accounting practices embraced in Brazil, under the standards published by the Comitê de Pronunciamentos Contábeis - CPC.

The Company understands that the items next are critical, requiring estimates and subjective judgment on an uncertain future, and are needed to determine the amounts provided in its financial statements, as they depend on the definition of assumptions like discount rates, customer analyses, the definition of the useful life of assets, forecasting results based on the budget, estimated losses, productivity, forecast of future events, market prices, and more. The assumptions made are based on the Management’s knowledge and experience, on the best benchmarks available from the market, on predicted future events, and on expert support as needed.

Provision for bad credits

The Company provisions for bad credits based on individual analyses of amounts receivable and estimated probably losses realizing receivables. The credit risk of the Company’s operational activities is managed by means of specific rules governing customer acceptance, credit analysis and establishment of exposure limits by customers, all of which are periodically revised, in addition to constant monitoring of customers’ financial health as a means to make sure that amounts owed the Company are in fact collected.

The Company’s policy is to provision for bad credits based on an individual analysis of amounts receivable, considering: (i) the concepts of effective losses and expected losses, taking account of the probability of default events occurring in the following 12 months, (ii) financial instruments experiencing significant credit risk increase, but no objective evidence of impairment; and (iii) financial assets showing objective evidence of impairment.

The procedure requires a certain degree of discretion from Management because of the uncertain assumptions involved in the process, such as the financial standings of customers and the market’s economic trends.

Provision for losses realizing inventories

The Company provisions for probable losses from (i) inventories of products that have been discontinued or we intend to discontinue; (ii) surplus inventories of raw materials relative to projected sales of the products for which they are used in the coming twenty-four months; (iii) inventories of finished products that will expire before they can be sold; and (iv) unused maintenance inventories. These provisions are updated as of each balance-sheet closing date.

The activity’s critical process lies in evaluating the obsolescence of inventories, considering individual analysis of the items according to the judgment of the professionals involved, leaving to Management the definition of standards and internal procedures for periodical evaluation of inventories.

Although this is a critical process because of the necessary judgment, the Company’s main products (paper, packaging, bags and wood) are not perishable, and, even if not used for sales, they may be re-processed and used in new production processes.

Deferred income tax and social contribution

The Company recognizes deferred tax assets and liabilities based on the difference between book values and the taxable base of assets and liabilities. The Company regularly reviews the realization of deferred tax assets.

The critical nexus for deferred taxes relates with Management’s judgment of the realization of the net deferred tax asset, keeping it on the books as long as probable, as supported by results forecasts, but the amount thereof is subject to uncertainty as it depends on the materialization of forecast taxable income in future periods. The Company chose early adoption in 2014 of Law 12.973/14, which enable neutralizing the current tax effect on income accounts, which receive different treatments under the tax law and the new Corporations Law.

Fixed and intangible assets

The Company uses the linear depreciation method set based on the assessment of each asset’s useful life, based on the expected generation of future economic benefits, with the exception of land, which does not depreciate. Assessment of assets’ useful life is reviewed annually and adjusted as needed, and may vary based on each unit’s technological currentness.

Financial charges are capitalized on fixed assets when they are incurred on ongoing fixed assets formed, where applicable.

Expenses on new products and techniques research are recognized in each fiscal year as expenses, as they are incurred.

Useful-life determination is a critical process and demands subjective judgment. It is inherently uncertain due to technological change or other factors that may cause early obsolescence of fixed assets. If a need arises to make relevant changes to the original assumptions, depreciation expenses, obsolescence write-offs and the book value of fixed assets may diverge materially from the originally adopted assumptions.

Asset impairment

The balance of fixed and other assets is revised annually to identify evidence of non-recoverable losses or events and chances indicating that the book value may not be recoverable.

In the estimates used to define an asset’s recovery value, estimated cash flows are discounted to their present value using a discount rate that reflects the current market valuation of the time-value of money and asset- specific risks. This discount rate is set individually for each asset, unless an asset generates no cash inflows. When a loss is identified, it is recognized in a period’s results at the amount by which an asset’s book value exceeds its recovery value.

Impairment valuation is critical because it can be influenced by different internal and external factors, such as economic and industrial trends, interest rates, strategic business changes, and changes in the types of products offered to the market.

Biological assets

Fair-value valuation of biological assets, which the Company does quarterly, takes account of certain estimates such as: price of wood, discount rate, forest harvest plans, and productivity volume, all of which are subject to uncertainty and whose variations may affect future results. A fair-value increase or decrease is determined as the difference between the fair value of biological assets at the beginning and end of the relevant period.

Tax, social security, labor and civil provisions These provisions arise from administrative and/or court proceedings inherent to the Company’s regular activities. Tax, social security, labor and civil provisions are reviewed by in-house counsel, and lawyers and experts retained by the Company, and are quantified based on criteria that enable proper measurement. They are restated to the as-of date of each balance sheet.

Provisions are made for court proceedings deemed to be probable losses. For those where a loss is deemed possible, the Company merely discloses the cases and amounts involved, with no provisioning; and for those where a loss is deemed remote, the Company neither discloses risks nor forms provisions, as required by the accounting practices in force in Brazil.

In court cases where the Company is the plaintiff, no amounts are recognized in financial statements, according to the accounting principle of prudence. The practice in place is to only recognize such assets after the sentences thereunder pass into res judicata.

Combined businesses A business acquisition takes place when the set of activities and assets acquired includes at least one input and one substantive process that, taken together, contribute significantly to the ability to generate output. Combined businesses are recognized by means of the application of the acquisition method. The cost of an acquisition is measured as the sum total of the assets transferred, valued at fair value on the date of acquisition, in the light of the Purchase Price Allocation (PPA) to the acquired assets and liabilities. A combined business produces a premium when the acquisition price exceeds the value of the net assets acquired (net identifiable assets acquired and liabilities accepted). If the acquisition price is lower than the fair value of the net assets acquired, the difference will be recognized as a beneficial acquisition in the fiscal year’s bottom line. PPA effects are allocated to intangible assets when they emerge from a premium for future returns, or allocated to assets and liabilities when valuation indicates a market premium.

10.6. Description of material off-balance-sheet items: a) assets and liabilities that the Company holds directly or indirectly and not shown in the balance sheet (off-balance sheet items), such as: i) operational leases as lessor or lessee ii) written off receivables portfolios in connection with which the entity maintains risks and obligations, indicating the respective liabilities iii) agreements governing the future purchase and sale of products or services iv) unfinished construction agreements v) agreements governing future financing receipts

The Company has no operations, agreements, obligations or other engagements in societies whose financial statements are not consolidated with its own, nor other operations capable of creating present or future relevant effects on results or the Company’s equity or financial situation, its revenues or expenses, liquidity, investments, cash or any other not recognized in its financial statements.

b) other off-balance-sheet items

There are no other material items not recognized in the Company’s consolidated financial statements 10.7. Management’s comments on off-balance-sheet items: a) How do, or may, such items affect the revenues, expenses, operational results, financial expenses, or other items in the Company’s financial statements? b) Nature and purpose of the operation c) Nature and amount of obligations accepted and rights generated with the issuer and beneficiary as a result of the operation There are no other material items not recognized in the Company’s consolidated financial statements

10.8. Management’s comments on the main elements of the Company’s business plan: a) Investment

(i) quantitative and qualitative description of ongoing and forecast investments: Total investment in 2020 was R$ 5.2 billion, of which R$ 340 million were allocated to forestry operations, R$ 451 million were allocated to operational continuity of the plants, R$ 339 million were allocated to special projects and expansions, in particular high-return projects pursuing improved performance of the company in all of its operational segments, and R$ 4 billion were allocated to the Puma II Project.

R$ million 2020 2019 2018 Maintenance and operational continuity 791 1,065 734 Special projects and expansion 339 237 222 Puma II Project 4,045 1,271 0 Total 5,174 2,573 956

Klabin invested BRL 2.6 billion in 2019, of which BRL 334 million were allocated to forest operations, BRL 731 million were allocated to operational continuity of the plants, BRL 237 million were allocated to special projects and expansions, in particular high-return projects that seek to improve the Company’s performance in every segment in which it operates, and BRL 1.3 billion was allocated to the Puma II Project. (ii) Investment Funding Sources Investments are funded with cash balances, expected cash generation from the operation itself, and market funding through loans, financing with development agencies, and access to the capital markets. In addition, as announced to the market on October 31, 2019, and November 6, 2019, the Company has secured credit facilities with the ISDB BID Invest & IFC – for a total USD 800 million, ECA (Export Credit Agency) – Finnvera, and a facility tied in with execution of the Puma II Project with ao BNDES, for a total of up to BRL 3 billion. All of these are part of the process for securing financing for the Puma II Project. (iii) Material ongoing and forecast divestments The Company has no material ongoing or forecast divestments. b) disclosed acquisition of plants, equipment, patents, or other assets capable of materially affecting the Company’s productive capacity As disclosed to the market in the Material Fact of April 16, 2019, the Company approved commencement of a project for capacity expansion in the packaging papers segment. It has been called the "Puma II Project" and covers construction of two paper mills with integrated pulp production in the Klabin manufacturing unit in Ortigueira (PR) ("Puma Unit").

Installation of the Puma II Project will take place in two phases:

(i) Phase one consists in the construction of a fiber line for non-bleached pulp production, integrated with a kraftliner and white kraftliner paper mill whose output will be marketed under the Eukaliner brand, with capacity for 450 thousand annual tons. This phase also includes construction and/or adjustment of supporting facilities for the new fiber lines and recovery and utility areas. (ii) Phase two covers construction of a supplementary line integrated with a kraftliner paper mill with capacity for 470 thousand annual tons, and expansion of certain supporting structures.

According to schedule, each phase will take 24 months, and construction of the second phase will begin as soon as phase one is completed. Therefore, commissioning of the first machine is scheduled for the second quarter of 2021, and commissioning of the second machine is scheduled for the second quarter of 2023. Gross investment on budget for construction of the Puma II Project is BRL 9.1 billion, subject to foreign exchange rate variations and inflation restatements. BRL 1.3 billion has been disbursed in 2019 and the remainder will be until 2023. Out of this total, approximately BRL 900 million concern recoverable taxes. As the majority of the equipment will be installed in phase I, an approximate two-thirds of the disbursements should take place between 2019 and 2021. On March 29, 2020, Klabin announced to the market that it has executed the documents to acquire the packaging paper and corrugated cardboard businesses of International Paper do Brasil located in Brazil. IP’s corrugated cardboard packaging operation in Brazil, which is the focus of the acquisition, has production capacity for 305 thousand annual tons, and its sales amounted to a 6.6% share of the domestic market, according to 2018 data from the Brazilian Corrugated cardboard Association (ABPO). The scope of the transaction also includes packaging paper units (virgin and recycled fiber), with total capacity for 310 thousand annual tons. On October 14, 2020, the conditions precedent for acquisition of the packaging papers and corrugated cardboard businesses of International Paper do Brasil (“IP”) located in Brazil were fulfilled and all agreements and legal approvals were executed, with the disbursement of an initial payment in the amount of R$ 280 million on the same date, with R$ 50 million left to pay one year thereafter, subject to certain terms and conditions under the agreement, for a total acquisition price of R$ 330 million, in addition to reimbursing IP of excess working capital received on that date, in an amount to be determined and close to R$ 58 million in the first half of 2021. Payment was made out of the Company’s own funds. c) new products and services (including description of disclosed research underway, total amount spent in research for new products or services development, disclosed projects underway, and total amount spend by the Company on new products or service development) Klabin’s competitive evolution, from the performance of its forests and production processes to management of its products’ impacts, is intrinsically connected with constant investment in Research, Development and Innovation. As the paper and packaging markets become more and more challenging, and with entry into the world pulp market with the operational startup of the Ortigueira (PR) plant and the motto of Sustainability and renewable materials, the Company has been increasing its R&D&I investments.

In 2020, Klabin was devoted to standing as a global benchmark for responsible solutions in response to constant societal changes, offering renewable, recyclable and biodegradable multipurpose forestry products. To contribute to a sustainable economy and inspire consumer choices, the Company prioritizes the planet’s prosperity, which principles are aligned with the KODS (Klabin Sustainable Development Goals), creating value for its investors, employees, business partners and communities.

With a more comprehensive view and a more strategic action, the R&D&I area acts on several links along the production chain:

 Perfecting processes for improving species, planting and handling of pine and eucalyptus to achieve increasing productivity;  Developing new products and improving existing processes to adapt them to customers’ needs or to better economic and environmental performance;  Solutions for the issues of the physical and mechanical properties of papers and packaging, such as barriers (water, steam, fat, oxygen), porosity, permeability and roughness, and of conversion (cutting, folding, pasting, closing and printing);  Review of product performance in terms of the environment, quality, productivity, health and safety.

Klabin’s Forest Research, Development and Innovation is devoted to projects included in different research tracks:

 Genetic Improvement of Eucalyptus;  Genetic Improvement of Pine;  Cloning;  Forest Biotechnology;  Plant Health;  Nutrition and Forestry;  Ecophysiology.

2020 Highlights:

 Forming genetic improvement populations of pine and eucalyptus in PR and SC, in pursuit of medium- and long-term genetic gains for the purposes of recommending new hybrids with greater fiber production potential;  Expansion of the Eucalyptus and Corymbia genetic base by means of the introduction of new genetic material in an attempt to secure new alleles for adverse conditions, such as climate change and expansion into new production sites;  Development of genetic improvement strategies for the Corymbia genus from the selection of hybrid clones with high productive potential, for the purposes of producing new clones appropriate for hydric stress conditions, as well as to increase basic wood density;  Protecting 6 cultivars of high-productivity hybrid eucalyptus clones to ensure Klabin’s genetic assets;  Increasing the production capacity for genetically improved seeds by means of orchards of Pinus taeda, Pinus maximinoi and Pinus tecunumanii;  Enabling operational-scale production of saplings of the elite Pinus taeda family through vegetative propagation;  Development of 250 new clones of Pinus taeda via somatic embryogenesis to expand the clonal selection program’s experimental network;  Continuation of the internal technical committee called FIP (Forest, Industry and Research), with a focus on understanding the quality characteristics of wood and the solution of deviations that may impact the quality of the end product;  Installation of 32 weather forecasting and climate monitoring stations in Klabin’s area of activities in PR;  Major advance in the Forest Biotechnology area, with the development and implementation of biotechnology techniques such as somatic embryogenesis and molecular markets applied to the selection of superior clones;  Development of a computerized research management and information security system (Labware/Lims) for the forestry research base.

Klabin’s Industrial Research, Development and Innovation area addresses five research tracks:

 Development of forest raw materials for pulp, paper and new materials;  Paper optimization and new applications, with a focus on functional barriers;  Bio-refinery (multiple uses of the first base, in particular lignin);  Optimization of environmental processes, re-use of process byproducts, reduced water, energy and steam consumption;  Nanotechnology – cellulose fractions at the micro- or nanoscale and application to new products. Industrial Research achieved several accomplishments in 2020, which was a promising year despite the great challenges faced. Progress continued in quality assessments of wood from new genetic materials planted at Klabin, with the following highlights:

 Pinus maximinoi, as a source of long fibers, with increased forest production potential and distinctive end- product quality. The fruits of these studies were recognized by international awards such as best Technical Paper presented in 2019, in the Tappi Peers event in the USA, in addition to one more doctorate earned in 2020.

 Evaluation of the wood quality of more than 1,123 Eucalyptus spp. trees by application of the Near Infrared technology for quick prediction of the wood’s chemical, physical and pulping properties. For added efficiency, the R&D&I area maintains partnerships with providers of equipment and inputs, in addition to relying on support from research institutes and universities in Brazil and abroad.

It is also worth mentioning actions intended to add properties to paper as a means to improve its effectiveness as a sustainable packaging material in functional barrier form, meeting the increasing needs of the market and society, as well as continued progress in terms of intrinsic properties, such as mechanical resistance and surface quality. Gains were made in the development of barriers against various substances (water, steam, fat, oxygen), achieving more effective results in line with stakeholders’ expectations.

In addition to the R$ 70 million invested in 2015-2017, Klabin will inject approximately R$ 180 million in Industrial and Forest Research in 2019-2021, including a new Pilot Plants park whose operations began in November 2019 for the purposes of new products development. In line with the investment in the Pilot Plant, the company’s first lignin extraction plant developed a product that is unique in Brazil: kraft lignin from pine. More than 4 tons of the material have been produced, materializing over 20 partnerships for R&D projects and future clients. The microfibrillated cellulose plant enabled holding five industrial tests focusing on the development of new papers and cardboards with distinctive features compared with the competition. At the same time, several generations of cellulose-base products were developed for application in other markets, culminating in the success case “Hand Sanitizing Gel Production with Cellulose-Based Thickener”. The application enabled developing a new, fully renewable and sustainable, ingredient for cosmetics from MFC (microfibrillated cellulose).

Given the replacement of non-renewable materials with biodegradable ones based on cellulose fibers, nanotechnology projects using cellulose fractions on the micro- (microfibrillated cellulose – MFC) and nano- (nanocrystalline cellulose) scales progressed to pilot applications to paper and packaging materials.

Another focal point in the application of lignocellulosic materials (MFC, cellulose and wood fines) pursued production of plastic-substitute composites. This are may provide a new market for more sustainable materials. In a partnership with Senai, the Company developed a faceshield with 10% cellulose as a replacement for polyethylene that was distributed at all Klabin healthcare units to support the combat against Covid-19.

Sustainability is an ever-present beacon for the Company’s research and, in pursuit of zero waste-to-landfill, an initiative at the Rio Negro (PR) unit enables using sludge from the Effluents Treatment Station for local brick manufacture.

Advances in research on the use of wood extracts and forestry waste, leading green fuels – Crude Tall Oil and BioOleo – to make use of 100% of the forest potential, playing a key role in the world’s main groups and intellectual institutions as concerns inputs.

With the Puma II Project, Klabin will have available a line with the capacity to produce 450 thousand annual tons of Eukaliner®, the world’s first kraftliner 100% made from eucalyptus. The Technology Center carried out work involving studies of the pulp and paper production process, from wood quality to simulated paper properties. The goal was to track the development of the installation of the new cellulose plant and paper mills, evaluating the quality assurance of the process and product to be introduced into the market.

Highlights:

- The partnership with Israeli startup Melodea is already producing early prototypes of packaging with a higher ratio of renewable materials;

- Partnerships with more than 20 startups in pursuit of various research projects;

- Filing for patents for application of MFC in several countries in four continents; - Filing for extended patent over the Eukaliner® brand in the European Community, England, United States, Argentina, Chile, South Africa, Australia, China and Indonesia;

- Collaborative projects with universities, involving scientific initiation, master’s and doctoral grant recipients. New partnerships formed with institutes and companies for joint project development;

- After three years’ research into the bag barrier project, a new product – the Ecolayer line of bags intended for the mortar market that features a steam barrier.

- Development of fluting paper with wood and cellulose chemistry projects leading to investments in the Angatuba unit, making it one of the world’s major producers of high-quality fluting paper;

Recognitions:

- ABTCP award in the Innovation *R&D and Technology) category with the case Nanocellulose as replacement for the carbo-mer present in hand sanitizing gel formulae;

- Recognition by a customer in the “Sustainability Project” category for the development of two high-impact initiatives: Ecolayer and KlaSack Dispersível.

10.9. Management Comments on other factors that were materially influential for operational performance and that have not been identified or discussed in other items of the present section: No other factors materially influenced operational performance that have not been identified elsewhere in this section. APPENDIX II

PROPOSED ALLOCATION OF THE FISCAL YEAR’S NET INCOME, INCLUDING INFORMATION LISTED IN APPENDIX 9.1.II OF INSTRUCTION 481

1. Report the fiscal year’s net income Net losses in the fiscal year ending December 31, 2020 were two billion, four hundred and eighty-seven million, eight hundred and seventy thousand and ninety Brazilian Reais and three centavos (R$ 2,487,870,090.53).

2. Report the total and per share dividends, including previously announced interim dividends and interest on shareholders’ equity On February 5, 2020, a meeting of the Company’s Board of Directors approved the distribution of dividends from existing profit reserves in the total amount of twenty-three million (23,000,000.00), Brazilian Reais, equivalent to R$ 0.00436417970 per common and preferred share and R$ 0.02182089850 per Unit against the income of fiscal year 2020. This corresponds to the total dividends paid in said fiscal year.

3. Report the percentage of the fiscal year’s net income thus distributed Not applicable because of the net losses recognized.

4. Report the total and per share amount of dividends distributed from profits from previous fiscal years

On February 5, 2020, a meeting of the Company’s Board of Directors approved the distribution of dividends from existing profit reserves in the total amount of twenty-three million (23,000,000.00), Brazilian Reais, equivalent to R$ 0.00436417970 per common and preferred share and R$ 0.02182089850 per Unit.

5. Report, minus previously announced interim dividends and interest on shareholders’ equity: a. The gross amount of dividends and interest on shareholders’ equity, broken down by share type and class There shall be no additional distribution of proceeds to shareholders at the General Meeting because the Company recognized net losses in the fiscal year. b. The manner and period of payment of dividends and interest on shareholders’ equity Dividends for the fiscal year ending December 31, 2020, were fully declared by the Board of Directors and pad to shareholders as shown in the table provided with foregoing item 2. Shareholders’ credits were made available on the initial payment date, in accordance with the checking accounts and banking domiciles provided to Banco Itaú S.A. c. Any monetary restatement and interest on dividends and interest on shareholders’ equity None. d. Ex-dividends date of the dividends and interest on shareholders’ equity applicable for determination of shareholders entitled to receipt thereof Payment of dividends and interest on shareholders’ equity beyond those already declared shall not be proposed to the General Meeting. The ex-dividends date has been reported in foregoing item 2.

6. If dividends or interest on shareholders’ equity have been declared based on income recognized in half-yearly balance sheets or balance sheets drawn for shorter periods a. Report the amount of previously declared dividends or interest on shareholders’ equity. The amount of dividends previously declared and paid by the Company in the fiscal year ending December 31, 2020 is R$ 23,000,000.00. Information on the declaration and payment of said dividends can be found in item 2 of the present Appendix. b. Report the respective payment dates

Description Declared on Paid on Gross amount per Total amount share Dividends 02/05/2020 02/20/2020 R$ 0.00436417970 R$ 23,000,000.00

7. Provide a comparative chart of the following amounts broken down by share type and class: a. Net income for the fiscal year and the three (3) preceding fiscal years

2020 2019 2018

Net (Loss) Income (R$ 2,487,870) R$ 675,825 thousand R$ 137.45 thousand thousand

Net (Loss) Income per Common (R$ 0.4537) R$ 0.1283 R$ 0.0261 Nominative share (in Brazilian Reais)

Net (Loss) Income per Preferred (R$ 0.4537) R$ 0.1283 R$ 0.0261 Nominative share (in Brazilian Reais)

b. Dividends and interest on shareholders equity distributed in the past three (3) fiscal years

2020 2019 20185

Total dividends and interest on R$ 23,000,000,00 R$ 907,000,000,00 R$ 919,000,000,00 shareholders’ equity distributed

5 No interest on shareholders’ equity was distributed in the fiscal year. Dividends per Common/Preferred R$ 0.0044 R$ 0.1721 R$ 0.2910 Nominative share (in Brazilian Reais)

8. Where income has been allocated to required reserves a. Identify the amount allocated to required reserves

No income allocated to reserves in the fiscal year ending December 31, 2020.

Provide details on the calculations of required reserves

No income allocated to reserves in the fiscal year ending December 31, 2020.

9. Where the Company has preferred shares entitled to fixed or minimum dividends a. Describe the calculations of fixed or minimum dividends

Not applicable. b. Report whether or not the fiscal year’s income is sufficient to fully pay the fixed or minimum dividends

Not applicable. c. Indicate whether or not any unpaid portions are cumulative

Not applicable. d. Indicate the total amount of fixed or minimum dividends to be paid to each class of preferred shares

Not applicable. e. Indicate the fixed or minimum dividends to be paid per preferred share of each class

Not applicable.

10. Concerning required dividends a. Describe the applicable calculations according to the bylaws

Pursuant to Art. 29 of the Bylaws, after the constitution of required reserves and the constitution, realization and reversal of the Biological Assets Reserve, and the realization of the “Equity Appraisal Adjustments” account, a minimum 25% of the remaining balance shall be allocated to payment of required dividends. b. Report whether or not required dividends are being paid in full

Not applicable, given that the Company posted a net loss in the fiscal year. c. Report any amounts retained Not applicable, given that the Company posted a net loss in the fiscal year.

11. Where required dividends have been withheld due to the company’s financial status a. Report the amount withheld

Not applicable. b. Describe the company’s financial status in detail, including aspects in connection with liquidity, working capital and positive cash flow analyses Not applicable. c. Justify the withholding of dividends Not applicable.

12. Where income has been allocated to contingency reserves a. Identify the amount allocated to reserves Not applicable. b. Identify the loss deemed probable and its cause Not applicable. c. Explain why the loss has been deemed probable Not applicable. d. Justify constitution of the reserves Not applicable.

13. Where income has been allocated to the unrealized earnings reserve a. Report the amount allocated to the unrealized earnings reserve Not applicable. b. Report the nature of unrealized earnings that led to constitution of the reserve Not applicable.

14. Where income has been allocated to statutory reserves a. Describe the statutory clauses establishing said reserves Pursuant to Art. 29, item v, the amount allocated to the Biological Assets Reserve shall be limited to the balance of the “Accumulated Income or Losses” account after the constitution, where applicable, of the Required Reserves, Contingency Reserves, Tax Benefits Reserves, and Unrealized Earnings Reserves, for the purposes of allocating the effects of fair-value adjustments to biological assets prior to financial realization, by means of the allocation of income in the fiscal year for the assets contained therein, net of tax effects, of fair-value valuation revenues from own biological assets, and fair-value valuation revenues from biological assets of controlled entities contained in the equity income as recognized by the controlling entity.

In addition, pursuant to Art. 29, item iii, provided the limits set forth in Art. 199 of the Corporations Law, an Investments and Working Capital Reserve may be formed by a 5%-7% portion of adjusted net income for the purposes of guaranteeing funds for investment in permanent assets, additions to working capital, including by means of debt amortization, regardless of income withheld in connection with capital budgets, the balance of which may be used to absorb losses as needed; for the purposes of dividends distribution at any time; for share redemption, refund or repurchase operations as authorized pursuant to the Bylaws; or for addition to equity capital. b. Identify the amount allocated to the reserve Not applicable. c. Describe the calculation of the amount Not applicable.

15. Where earnings have been retained as provided by a capital budget a. Identify the amount retained Not applicable. b. Provide a copy of the capital budget Not applicable.

16. Where income has been allocated to the tax incentives reserve a. Inform the amount allocated to the reserve Not applicable. b. Explain the nature of the allocation Not applicable.

APPENDIX III

ELECTION OF CANDIDATES TO SERVE AS FULL AND ALTERNATE MEMBERS (INCLUDING INDEPENDENT MEMBERS) OF THE COMPANY’S BOARD OF DIRECTORS AND FISCAL COUNCIL

Definition of the number of seats on the Company’s Board of Directors:

The controlling shareholders propose the composition of the Company's Board of Directors for the term of office ending on the AGM that resolves on the financial statements for the fiscal year ending December 31, 2020 to be as follows: 13 full members and alternates, of which 4 may be appointed as independent6, according to B3's Level 2 Regulation. Notwithstanding, the controlling shareholders preserve the right to change their proposal, including during the work of the Meeting, in order to increase the number of members of the Board of Directors in case of adoption of the multiple vote process or separate election, always observing the maximum limit established in Article 17 of the Bylaws and the provisions of Article 141, Paragraph 7 of Law 6,404/76.

Candidates to The Company’s Board of Directors

For the proposed seats, the controlling shareholders propose a ticket composed of the following members, who, if elected, shall serve until the Annual General Meeting that approves the accounts for the fiscal year ending December 31, 2021:

Full Members Alternate Members Israel Klabin Alberto Klabin Daniel Miguel Klabin Amanda Klabin Tkacz Armando Klabin Wolff Klabin Vera Lafer Antonio Sergio Alfano Francisco Lafer Pati Vera Lafer Lorch Cury Horacio Lafer Piva Francisco Amaury Olsen Paulo Sérgio Coutinho Galvão Filho Maria Eugênia Lafer Galvão Roberto Klabin Martins Xavier Lilia Klabin Levine Celso Lafer Reinoldo Poernbacher Roberto Luiz Leme Klabin Marcelo Bertini de Rezende Barbosa Sergio Francisco Monteiro de Carvalho Joaquim Pedro Monteiro de Carvalho Collor de Mello Guimarães Camilo Marcantonio Junior Ruan Alves Pires

6 There was no deliberation by the Board of Directors about the independence of the candidates for the election to be held at the AEGM The shareholder Mr. Luiz Barsi Filho presented an alternative slate, composed of the following candidates:

Full Members Alternate Members Israel Klabin Alberto Klabin Daniel Miguel Klabin Amanda Klabin Tkacz Armando Klabin Wolff Klabin Vera Lafer Antonio Sergio Alfano Francisco Lafer Pati Vera Lafer Lorch Cury Horacio Lafer Piva Francisco Amaury Olsen Roberto Klabin Martins Xavier Lilia Klabin Levine Celso Lafer Reinoldo Poernbacher Roberto Luiz Leme Klabin Marcelo Bertini de Rezende Barbosa Sergio Francisco Monteiro de Carvalho Guimarães Joaquim Pedro Monteiro de Carvalho Collor de Mello Camilo Marcantonio Junior Ruan Alves Pires Heloísa Belotti Bedicks Andriei José Beber

Mr. Luiz Barsi Filho clarified that the indications above "aim to enable Ms. Heloísa Belotti Bedicks and Mr. Andrei José Beber to run for the Board of Directors through the multiple vote process established in art. 141, "caput" of Law No. 6. 404/76 ("Corporation Law"). 404/76 ("Corporation Law"), given the systemic impossibility of making the BVD made available by Brasil, Bolsa Balcão S/A ("B3"), that is, the interest of the shareholder is that the aforementioned names can be shown on the BVD in the field destined to the adoption of the multiple vote process”.

Mr. Luiz Barsi Filho has nominated Ms. Heloisa Belotti Bedicks and Mr. Andriei José Beber for the position of Full Member and Alternate Member of the Board of Directors, respectively, if the AEGM should adopt the multiple voting procedure to elect Directors. Additionally, BNDESPAR and Absolute Gestão de Investimentos Ltda indicated its support for the nomination of the foregoing candidates in the event of a multiple-vote election.

We emphasize that, in the Company’s case, adoption of the multiple voting procedure requires a request made in advance at least 48 (forty-eight) hours prior to the AEGM by shareholders representing a minimum 5 (five) percent of the voting stock, pursuant to Art. 141 of the LSA and CVM Instruction No. 165/91. No such request has been submitted so far.

Furthermore, Mr. Luiz Barsi Filho and BNDESPAR also nominated Mr. Mauro Gentile Rodrigues da Cunha and Mr. Tiago Curi Isaac to run for the respective positions of full member and alternate member of the Board of Directors in the event of a separate election where minority preferred shareholders shall vote, pursuant to Article 141, 4 of the LSA. Procedure for the election of members of the Company's Board of Directors

The election of the members of the Board of Directors of the Company shall take place through the slate system. In the election by slate, each shareholder can only vote on one slate, with the candidates in the slate that receive the highest number of votes during the General Meeting getting elected. If, however, the multiple voting procedure is regularly required, the election by slates shall not occur and the candidates for the Board of Directors are the members of the slate indicated in this Proposal, the candidates nominated by the shareholder Mr. Luiz Barsi Filho – and supported by BNDESPAR – for the multiple voting election, as mentioned above, as well as the members of any additional slates proposed by shareholders and any other additional candidates that shareholders may nominate to run in the multiple vote election.

The Company clarifies that the holdings of Mr. Luiz Barsi Filho [and BNDESPAR] shall be added to any other requests for adoption of multiple votes that may be sent by other shareholders within the legal timeframe, including by remote voting ballot, for calculation of the minimum legal quorum required for adoption of such procedure, which, in this case, is of 5% (five percent) of the Company's voting stock.

If the multiple voting procedure is adopted, the number of votes required to ensure the election of at least one member of the Board of Directors shall be announced at the AEGM, based on the number of votes shares held by the shareholders in attendance. Each share shall be assigned as many votes as there are seats to be filled in the Board of Directors through the multiple voting procedure, with each shareholder freely allocating their votes among the candidates, and the candidates that receive the highest number of votes getting elected. Positions not filled due to a tie shall be the subject of a new vote, under the same process, adjusting the number of votes assigned to each shareholder according to the number of positions that remain vacant.

The majority of shareholders holding at least 15% (fifteen percent) of the total common shares issued by the Company shall also have the right to separately elect a member of the Board of Directors and their alternate. Holders of preferred shares issued by the Company, representing at least 10% (ten percent) of the capital stock have equal rights Only those shareholders who can demonstrate the uninterrupted ownership of the required shareholding for a minimum period of three (3) months immediately prior to the AEGM, may exercise such rights.

Shares held by shareholders choosing the separate voting procedure shall be excluded from the number of voting shares for the purposes of a majority election by slate or multiple voting.

The controlling shareholders’ proposed slate shall contain 12 candidates, assuming that one member of the Board of Directors shall be elected in a separate vote. Notwithstanding this, the controlling shareholders preserve the right to change their proposal, including during the work of the AEGM, in order to increase the number of members of the Board of Directors in case multiple voting procedure is adopted, or if more than one member s elected in a separate vote, as needed to accommodate the election of all candidates on the slate appointed by the controlling shareholders and all candidates elected in a separate or multiple vote, as the case may be, always observing the maximum limit established in Article 17 of the Bylaws and the provisions of Article 141, Paragraph 7 of Law 6,404/76.

Shareholders may propose other slates to participate in the majority election to the Board of Directors, as well as possible candidates to participate in a separate voting pursuant to art. 141 of the Corporation Law, and, in these cases, must send the Company information about the candidates, duly accompanied by the required documents.

Fiscal Council Election

Pursuant to Art. 27 of the Company’s Bylaws, the Company’s Fiscal Council shall be a permanent body composed of a minimum of three (3) and a maximum of five (5) full members and a like number of alternates. To compose the Fiscal Council for its next term of office, ending at the Annual General Meeting that approves the financial statements for the fiscal year 2021, the controlling shareholders have nominated a slate made up of the following candidates:

Full Members Alternate Members João Adamo Júnior Vivian do Valle Souza Leão Mikui João Alfredo Dias Lins Antônio Marcos Vieira Santos Raul Ricardo Paciello Felipe Hatem

Art. 161, 4, letter 'a', of the LSA assures the separate election of one (1) full member of the Fiscal Council and the respective alternate to (i) holders of non-voting preferred shares, or preferred shares with restricted voting rights; and (ii) minority shareholders, as long as they collectively represent ten (10) percent or more of the voting shares.

Shareholder Mr. Luiz Barsi Filho nominated to a vacancy in the separate election for preferred shareholders, pursuant to Art. 161, 4, of the LSA, Ms. Louise Barsi as full member and Mr. Tiago Brasil Rocha as the respective alternate. Shareholder Mr. Luiz Barsi Filho also nominated to a vacancy in the separate election for minority common shareholders Mr. Maurício Aquino Halewicz as full member and Ms. Michele da Silva Gonsales Torres as alternate.

BNDESPAR, by its turn, also nominated to a vacancy in the separate election where minority common shareholders shall vote Mr. Maurício Aquino Halewicz as full member, but nominated Mr. Geraldo Affonso Ferreira Filho as alternate member.

INFORMATION ON THE NOMINEES FROM REFERENCE FORM ITEMS 12.5-12.10

In the light of the foregoing, we provide information on the components of the controlling shareholders’ nominated slate to the Board of Directors and the Fiscal Council, as well as on candidates nominated by minority shareholders pursuant to 12.5-12.10 of the Reference Form.

12.5. Members of the Board of Directors and Fiscal Council:

Candidates to Full Member of the Board of Directors:

Number of Term of Office, consecutive Expected Date of Expected date of if the Other positions Nominated by terms served, if Election if the Investiture if the Independent Name Date of Birth Profession CPF/ Passport Position Management held with the the Controlling the Management Proposal is Management Proposal is Member7 Proposal is Company Shareholders Management Approved Approved Approved Proposal is Approved

Member of the Israel 008.143.857- 1 09/20/1926 Engineer Director 03/24/2021 03/24/2021 2022 AGM Sustainability Yes No 20 Klabin 53 Committee

Daniel 19 008.143.777- 2 Miguel 05/11/1929 Engineer Director 03/24/2021 03/24/2021 2022 AGM None Yes No 34 Klabin

20 Armando 008.144.407- 3 05/25/1932 Engineer Director 03/24/2021 03/24/2021 2022 AGM None Yes No Klabin 97

380.289.138- 4 Vera Lafer 10/03/1936 Industrialist Director 03/24/2021 03/24/2021 2022 AGM None Yes No 20 49

Francisco 256.483.558- 5 05/10/1973 Lawyer Director 03/24/2021 03/24/2021 2022 AGM None Yes No 3 Lafer Pati 90

Member of the 5 Horacio 038.613.618- 6 05/30/1957 Economist Director 03/24/2021 03/24/2021 2022 AGM Compensation Yes No Lafer Piva 17 Committee

7 There was no deliberation by the Board of Directors on the independent status of each candidate

Paulo Sergio 18 Business 040.443.368- 7 Coutinho 07/17/1960 Director 03/24/2021 03/24/2021 2022 AGM None Yes No Administrator 57 Galvão Filho

Roberto 20 Klabin Business 153.181.088- 8 10/04/1968 Director 03/24/2021 03/24/2021 2022 AGM None Yes No Martins Administrator 81

Xavier

001.913.298- 9 Celso Lafer 08/07/1941 Lawyer Director 03/24/2021 03/24/2021 2022 AGM None Yes Yes 20 00

Roberto Member of the 20 988.753.708- 10 Luiz Leme 07/15/1955 Lawyer Director 03/24/2021 03/24/2021 2022 AGM Sustainability Yes Yes 00 Klabin Committee

Mauro 3 Gentile 004.275.077- 11 11/06/1971 Consultant Director 03/24/2021 03/24/2021 2022 AGM None No Yes Rodrigues 66

da Cunha

Heloisa 048.601.198- 12 Belotti 08/25/1960 Economist Director 03/24/2021 03/24/2021 2022 AGM None No Yes 0 43 Bedicks

Sergio Francisco 725.095.897- 13 Monteiro de 11/16/1962 Economist Director 03/24/2021 03/24/2021 2022 AGM None No Yes 4 68 Carvalho Guimarães

Camilo 978.145.710- 14 Marcantonio 06/11/1981 Engineer Director 03/24/2021 03/24/2021 2022 AGM None No Yes 3 49 Junior

Each individual candidate on the controlling shareholders’ nominated slate has declared and represented that, in the past 5 years, the Brazilian Securities and Exchange Commission – CVM did not convict them in any administrative proceedings, and nor have they been otherwise convicted in judicial or administrative proceedings leading to their suspension or disqualification from engagement in any professional or commercial activity.

.Mr. Luiz Barsi Filho reports that the candidates appointed thereby “shall, if elected, execute the Statement of Release pursuant to the applicable law”.

FULL MEMBERS’ RÉSUMÉS

Armando Klabin CEO of Dawojobe Participações S.A, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. Engineering degree from the Polytechnic School of the Federal University of Rio de Janeiro (UFRJ). Holds the following positions in various societies and institutions: CEO of Cosibra- Companhia Sisal do Brasil; controlling shareholder of Aquinor- Aquicultura do Nordeste Ltda; CEO of lbitiguaia Agropecuária Ltda- Fazenda Paraíso (MG) and Estância Miranda (MS); member of the Managing Board of Fundação Getúlio Vargas; president of the Instituto de Tecnologia ORT Brasil, which is dedicated to technology education and training, and of the Brigada Mirim Ecológica da Ilha Grande; Chairman of the Board of Directors of Colônia de Férias Henrique Lemle, an NGO that carries out supplementary education, environmental education and biological and natural science research activities.

Camilo Marcantonio Junior Investment Manager and director of Charles River Capital, an asset management company of which he is a founding partner. Member of the Board of Directors of BrasilAgro - Companhia Brasileira de Propriedades Agrícolas. He was a manager at Bain & Company, having worked for eight years in strategy consulting, and executive partner for three years at Astor Group, a company active in mergers and acquisitions. He has a degree in Electronic Engineering from Instituto Militar de Engenharia, having received the Correia Lima medal as the first place in his class, and an MBA with distinction from Harvard Business School (USA), having received the John L. Loeb award for outstanding performance in the area of Finance.

Celso Lafer Professor Emeritus of the International Relations Institute of the University of São Paulo (USP), where he taught until 2011 as chair of the Philosophy and General Theory of the Law Department of the Law School of the University of São Paulo. PhD of Political Sciences from Cornell University (USA). A jurist and scholar of human rights, specializing in international relations and foreign trade. In 1992, was Minister of Foreign Relations and ex-officio Vice-President of the Rio-92 UN Conference on the Environment and Development. In his second term as Minister of Foreign Relations (2001-2002), he led the Brazilian delegation to the World Trade Organization’s (WTO) Ministries Conference in Doha. Minister of Development, Industry and Trade (1999) and Ambassador and Head of the Permanent Brazilian Mission to the United Nations and World Trade Organization in Geneva (1995-1998). In 1996, was president of the WTO’s Controversy Solutions Body and, in 1997, of the entity’s General Council. Member of the Brazilian Academy of Letters and the Brazilian Academy of Sciences. Former Chairman of the Board of Directors of Metal Leve S/A. Indústria e Comércio (1993-1995), member of the Board of Directors of Fundação Orquestra Sinfônica do Estado de São Paulo- Fundação Osesp (2005-2011) and president of the Fundação de Amparo à Pesquisa do Estado de São Paulo (Fapesp). Currently president of Fundação Ema Klabin, of the Deliberative Board of Museu Lasar Segall and of the Editorial Board of the Política Externa review. Member of the Advisory Board of Associação Pinacoteca Arte e Cultura in São Paulo. Author of several books, including: A reconstrução dos direitos humanos, um diálogo com o pensamento de Hannah Arendt (1988); Comércio, desarmamento, direitos humanos- reflexões

sobre uma experiência diplomática (1999); A internacionalização dos direitos humanos: Constituição, racismo e relações internacionais (2005), with Alberto Filippi as co-author. Has received the following honors, among others: Doctor honoris causa of the Tres de Febrero University - UNTREF, Argentina (2011) and of Université Jean Moulin Lyon 3, France (2012); Honorary Fellow of the Jerusalem Hebrew University (2006); Moinho Santista award from Fundação Bunge in the International Relations area (2001). In 2006, held the "Southern Countries and Cultures chair of the John W. Kluge Center of the US Library of Congress

Daniel Miguel Klabin President of Daro Participações S.A, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. Member of the Permanent Business Committee of the Ministry of Foreign relations. Has a degree in civil engineering from the Polytechnic School of the Federal University of Rio de Janeiro (UFRJ), with ample experience in leadership positions. Founder and first president (1998) of the Centro Brasileiro de Relações Internacionais (CEBRI), currently serving as its vice-president and member of the Board of Curators. Experienced Klabin’s main growth cycles as member of the Board of Directors. Chaired the Board in six other periods (terms of 1981, 1987, 1993, 1999, 2005 and 2011). Currently holds the following leading positions with companies and institutions: managing partner of Damaro Comercial Agropecuária Ltda; officer at Daram Participações Ltda; member of the Strategic Committee of the Brazil Chapter of the Latin American Businessmen Council (CEAL) and member of the Higher Council of Associação Comercial do Rio de Janeiro (ACRJ) since 2008. Doctor honoris causa of the Brazilian Academy of Philosophy, an institution that stands up for freedom of opinion and expression, debate, democracy, and the rule of law.

Francisco Lafer Pati Shareholder and Officer of VFV Participações S.A, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. Has degrees in Law and Philosophy from the Pontifícia Universidade Católica de São Paulo and a post-graduate degree in Corporations Law from Fundação Getúlio Vargas. Has experience in civil, corporate and contracts litigation. Has since 2011 been an Officer at a communications group producing journalistic content.

Horacio Lafer Piva Shareholder of Klabin Irmãos & Cia, the Klabin Group’s holding company. Has a bachelor of Economics degree and a post-graduate degree in Business Administration from the University of São Paulo. Has made valuable contributions to economic development and to Brazilian industry, as well as to education and health, in his activities with private- and public-sector entities, some of which have been created to rethink the country based on sustainable development and the tracking of indicators in various areas. Former president of FIESP/CIESP (1998-2004), of Sebrae-SP (1998-2000) and of the Economics Theme Council of the Confederação Nacional da Indústria (CNI). Former member of the Comunidade Solidária Program of the Fernando Henrique Cardoso administration and of the Conselho de Desenvolvimento Econômico e Social (COES) of the Lula administration. Served as president of the Associação Brasileira de Papel e Celulose (Bracelpa), as a board member of the Associação de Assistência à Criança Deficiente (AACD) and of Instituto DNA Brazil. Also a member of the Boards of Directors of the following companies: Martins S/A, Tarpon S/A, Cataratas S/A, Grupo Baumgart and TCP S/A. Chairman of the deliberative Board of Indústria Brasileira de

Árvores (lbá). Board member of the Fundação Orquestra Sinfônica do Estado de São Paulo (Osesp), of the Empresa Brasileira de Pesquisa e Inovação Industrial (Embrapii), of the Associação Brasileira de Distrofia Muscular, of the Fundação Bienal de São Paulo, of the Fundação Fernando Henrique Cardoso (FFHC), of the Management and Health Committee of the São Paulo State Government, of the Advisory boards of Spread TI and Brasilpar- Serviços Financeiros, of the boards of Fundação de Amparo à Pesquisa do Estado de São Paulo (Fapesp) and of the Piauí magazine. Also a member of Mobilização Empresarial pela Inovação, a CNI initiative, as leader of the Human Resources theme.

Heloisa Belotti Bedicks Currently a Director of BNDES, member of the Fiscal Councils of Braskem and of Fundação Boticário, and member of the audit committees of Grupo Mapfre and Brasilseg. Formerly general director of Instituto Brasileiro de Governança Corporativa – IBGC from April 2001 to January 2020. Before serving as director of the IBGC, she was a member of its Board of Directors from 1999 to 2001. IBGC-certified in the Board of Directors, Fiscal Council and Audit Committee areas. Took part in international councils such as the ICGN (International Corporate Governance Network), with main offices in London, and the GNDI – Global Network of Directors Institute, with main offices in the USA. Has a master of business administration degree from Mackenzie, and bachelor’s degrees in Economics from Unicamp and Accounting from PUC Campinas, with a post-graduate degree in Business Administration from Unisal. Elected by the CEOs of major governance institutes and members of boards of directors from around the world as vice-president of the GNDI (Global Network of Directors Institute) for 2 consecutive terms. Has specialization degrees in Corporate Governance from Yale University and in Boards of Directors from the Chicago University. Attended the Singularity University Summit in 2018. Served in the following advisory boards: ISE – Índice de Sustentabilidade Empresarial of BMF & Bovespa from 2005 to 2011, ABN AMRO Bank’s Ethical Fund from 2001 to 2009, Fundação Getúlio Vargas’s Sustainability Center (FGVCES) from 2003 to 2008; Guia Exame de Sustentabilidade; University of São Paulo Governance Center from 2008 to 2010, and Guia Exame de Compliance 2019. Served in the following Boards of Directors: Mapfre Garantias e Créditos S.A. from 2002 to 2012, Tecelagem de Fitas Progressos Ltda from 1992 to 2002, Ph-Fit from 2002 to 2006. Also a former member of the Audit Committee of Grupo Mapfre in Brasil from 2006 to 2012

Israel Klabin CEO of Glimdas Participações S.A, the society that gave rise to Klabin, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. In addition to his relevant experience as a manager of the Company, having become its CEO at only 30 years old, he is recognized for his environmental work. President of Fundação Brasileira para o Desenvolvimento Sustentável (FBDS), which he helped create; member of the Independent Sustainability Council of the Inter-American Development Bank (IADB) and author of the book "A urgência do presente: biografia da crise ambiental" (2011). An organizer of the ECO 92 UN Conference on the Environment and Development. In 1997, he chaired the Brazilian Host Committee of Rio+5 and was co-chair of the Rio+5 International Committee. Has degrees in civil engineering and mathematics from the Federal University of Rio de Janeiro (UFRJ) and a post-graduate degree from the Institute of Political Science of Paris. Also a former member of the founding group of the Instituto Superior de Estudos Brasileiros (ISEB).

Mayor of Rio de Janeiro in 1979. Lecturer at the lnstitut d'études Politiques de Paris, author of articles for domestic and international periodicals, and advisor to universities, research institutions and collaborative networks like UFRJ, Fundação Getúlio Vargas, Harvard University, Tel Aviv University and the Sustainable Development Solutions Network (SDSN), the UN network of solutions for sustainable development.

Mauro Gentile Rodrigues da Cunha Has an Economics degree from Pontifícia Universidade Católica do Rio de Janeiro and an MBA from the University of Chicago. Serves as Chairman of the Board of Directors of Caixa Econômica Federal. Has over 25 years’ experience in the capital markets and in corporate governance. President of AMEC- Associação dos Investidores no Mercado de Capitais in 2012-2019. Before that, severed in several funds managers and financial institutions, including Mauá Investimentos, Franklin Templeton (Brasil), Bradesco Templeton, Investidor Profissional, and more. Also a former chairman of the Board of Directors of IBGC- Instituto Brasileiro de Governança Corporativa. Currently a member of the Board of Directors and Coordinator of the Audit Committee of Eletrobras- Centrais Elétricas Brasileiras, member of the Board of Directors and Coordinator of the Fiscal Council of brMalls Participações, and member of the Board of Directors, People and Compensation Committee and Audit Committee of Totvs S.A.

Paulo Sergio Coutinho Galvão Filho Vice-President of GL Holdings S.A, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. Officer of Tantra Participações Ltda, of GL Agropecuária Ltda and of Gepel Rural Ltda. Has a Business Administration degree from Pontifícia Universidade Católica de São Paulo and has graduated from the Harvard Owner/President Management program. Shareholder and member of the Board of Directors of DrogasiI S.A, the first pharmaceutical retail company in Brazil to be listed in the Stock Exchange and currently present in 17 Brazilian states, with a total of 600 drugstores. Supports cultural initiatives, and is a member of the Board of Fundação Bienal de São Paulo, of the Museu de Arte de São Paulo and an individual patron of the Pinacoteca do Estado de São Paulo.

Roberto Klabin Martins Xavier Shareholder and Officer at LKL Participações S.A and Esli Participações S/A, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. Officer and shareholder da Levine Participações S/A. Business Administration degree from Pontifícia Universidade Católica de São Paulo, Master of Administration degree from Business School São Paulo and family businesses management course at Universidade Adolfo lbáliez in Chile, in addition to finance at New York University. Supports and fosters social initiatives aimed at education, sports and citizenship.

Roberto Luiz Leme Klabin Lawyer graduated from the Law School of Largo de São Francisco, University of São Paulo (USP). He has a specialization in Business Administration from Mackenzie University, and graduated from Harvard through the Owner / President / Management program (OPM 31). He is partner-manager in the following companies: KL & KL Participações Ltda; RK Hotéis e Turismo and Caiman Agropecuária Ltda. He is also a prominent

environmentalist, currently Vice President of the SOS Mata Atlântica Foundation and the SOS Pantanal Institute. Member of the Board of Directors of the Sustainable Amazon Foundation; Member of the Advisory Board of FUNBIO, the Brazilian Fund for Biodiversity; Member of the Advisory Board of the Environment of the Government of São Paulo; Member of the Management Board of the Onçafari Project; Member of the Management Board of LIDE (Group of Business Leaders). Member of the Deliberative Council of Einstein Hospital; Member of the Deliberative Council of the Jewish Museum; Chairman of the Council of the Brazilian Museum of Sculpture and Ecology (MUBE) and Vice President of the Brazilian Luxury Travel Association (BLTA).

Sergio Francisco Monteiro de Carvalho Guimarães Director and effective member of the Board of Directors of Monteiro Aranha, director of Monteiro Aranha Participações Imobiliárias. Former director and board member of Charles River Capital, an asset management company. He is an effective member of the Board of Directors of Klabin. He has a degree in economics from Pontifícia Universidade Católica do Rio de Janeiro. He has an MBA from Fordham University (USA) and graduated from the Owner/President Management program at Harvard Business School.

Vera Lafer Shareholder and Officer of VFV Participações S.A, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. Also an officer and shareholder of the following: VL Participações Ltda, Novo Horizonte Agropecuária Ltda, VEMI Participações Ltda, Kla Gama Agropecuária Ltda. and Lavesube Comércio e Representações Ltda. A ballerina of renown, she stands out for her work in support of culture, the arts and education. A co-founder of Studio3 Espaço de Dança, a ballet dancers training and development school. At Espaço Cultural Vera Lafer, in Telêmaco Borba, Paraná, the Passo Certo program, held in partnership with Studio3, provides contemporary dance and capoeira classes to children and teenagers in the community and the children of Klabin employees ages 6-17. Her endeavors in this area have already earner her several public recognitions, including honors from the São Paulo City Council.

Candidates to Alternate Member of the Board of Directors:

Number of Term of Office, consecutive Expected Date of Expected date of if the Other positions Nominated by terms served, if Election if the Investiture if the Independent Name Date of Birth Profession CPF/ Passport Position Management held with the the Controlling the Management Proposal Management Proposal Member Proposal is Company Shareholders Management is Approved is Approved Approved Proposal is Approved

Alberto Mechanical 261.062.567- 1 06/10/1951 Alternate Director 03/24/2021 03/24/2021 2022 AGM None Yes No 18 Klabin Engineer 72

Amanda Member of the 17 Business 047.868.957- .2 Klabin 08/15/19780 Alternate Director 03/24/2021 03/24/2021 2022 AGM Audit and Related Yes No Administrator 84 Tkacz Parties Committees

3 Wolff 018.376.457- 3 05/01/1973 Entrepreneur Alternate Director 03/24/2021 03/24/2021 2022 AGM None Yes No Klabin 95

Antonio Business 875.349.248- 4 Sergio 09/08/1952 Alternate Director 03/24/2021 03/24/2021 2022 AGM None Yes No 0 Administrator 04 Alfano

Vera Lafer 060.657.498- 5 07/27/1964 Entrepreneur Alternate Director 03/24/2021 03/24/2021 2022 AGM None Yes No 4 Lorch Cury 00

Francisco Member of the Business 019.167.269- 6 Amaury 11/22/1949 Alternate Director 03/24/2021 03/24/2021 2022 AGM Compensation Yes Yes 3 Administrator 68 Olsen Committee

Maria Eugênia 076.308.458- 7 08/07/1962 Journalist Alternate Director 03/24/2021 03/24/2021 2022 AGM None Yes No 0 Lafer 12 Galvão

5 Lilia Klabin 300.825.448- 8 08/24/1939 Entrepreneur Alternate Director 03/24/2021 03/24/2021 2022 AGM None Yes No Levine 91

Member of the Reinoldo 003.976.440- 9 04/02/1943 Chemical Engineer Alternate Director 03/24/2021 03/24/2021 2022 AGM Sustainability Yes Yes 0 Poernbacher 00 Committee

Marcelo 3 Bertini de 813.071.527- 10 09/26/1963 Economist Alternate Director 03/24/2021 03/24/2021 2022 AGM None Yes Yes Rezende 91

Barbosa

Andriei José 014.789.149- 11 11/18/1973 Director Alternate Director 03/24/2021 03/24/2021 2022 AGM None No Yes 0 Beber 39

Tiago Curi Business 303.612.048- 12 06/16/1982 Alternate Director 03/24/2021 03/24/2021 2022 AGM None No Yes 3 Isaac Administrator 33

Joaquim

Pedro Monteiro de 085.081.467- 13 08/07/1978 Businessman Alternate Director 03/24/2021 03/24/2021 2022 AGM None No Yes 3 Carvalho 79 Collor de

Mello

Ruan Alves 143.957.877- 14 10/21/1993 Engineer Alternate Director 03/24/2021 03/24/2021 2022 AGM None No Yes 1 Pires 03

Each individual candidate on the controlling shareholders’ nominated slate, as well as those indicated by Mr. Luiz Barsi Filho, has declared and represented that does not have any criminal conviction nor administrative proceedings within the Brazilian Securities and Exchange Commission – CVM neither any other administrative or judicial conviction leading to their suspension or disqualification from engagement in any professional or commercial activity.

ALTERNATE MEMBERS’ RÉSUMÉS

Alberto Klabin Mechanical production engineering degree from Pontifícia Universidade Católica do Rio de Janeiro, Psychology degree from Universidade Estácio de Sá, and Escola Superior de Guerra. Solid experience as a deputy officer of Klabin family companies. Formerly a relationship manager at Chemical Bank, New York, and Banco Norchem S.A, in Rio de Janeiro.

Amanda Klabin Tkacz A co-owner of and in charge of strategic positioning at Galt Capital, a consultancy firm specializing in investment analysis and proposal. Has a Business Administration degree from IBMEC, a diploma from Harvard’s Owners/Presidents Management Program, and from the Wharton School of Business’s Private Wealth Management program. Her experience and training have given her recognized skills in strategic business planning, mergers and acquisitions, and risk management.

Andriei José Beber An IBGC-certified Director with experience in finance, controllership, auditing, strategy, compensation and sustainability; Professor at the FGV Management executive education program, active in Finance and Quantitative Methods; Researcher and Consultant in the areas of corporate governance, infrastructure management and maintenance, investment project analysis and corporate finance. Doctor of Engineering from Universidade Federal do Rio Grande do Sul. Formerly an Officer of Centrais Elétricas de Santa Catarina/CELESC AS (2010 – 2015), where he coordinated the Strategic and Executive Development Committee, playing a direct role in the devilment of management and performance agreements; Ran the review of the charters of the Board of Directors and its respective committees; An ESG enthusiast, he implemented the Sustainability Committee at CELESC and coordinated while with the company. Formerly an Alternate Board Member of Eletropaulo (2017-2018), where he was a member of the Compensation and Personnel Committee, with direct involvement in the realignment of people management policies in the face of migration to the Novo Mercado. Currently a Director at Tecnisa S.A., where he coordinates the Audit Committee. Recognized as best Finance and Quantitative Methods professor in Brazil in 2009, 2010, 2013 and 2014. Co-author of the books “Compliance Estratégico” volumes 1 and 2. Has published over 100 papers in Brazil and abroad.

Antonio Sergio Alfano Joined the Klabin conglomerate in 1974, having served in the Economic Research, Sales and Marketing areas. Former CEO of Klabin Export, Chief Financial Officer of Norske Skog Klabin, both of which Klabin S.A. has taken over; and Chief Financial Officer of Klabin Bacell. Former Planning Officer and Chief Financial and Investor Relations Officer of Klabin S.A.

Francisco Amaury Olsen Former CEO of Tigre Brasil, has bachelor’s degree in Business Administration with a Business Administration extension degree from Southern University, California (Advanced Management). Currently a full independent member of the Board of Directors of Duratex, here he has been since April 2013 a member of the People, Governance and Nominations Committee, of the Sustainability

Committee and of the Related Parties Transactions Committee, which he chaired from 2013 to April 2014. Also at, he served in the Audit and Risk Management Committee fin 2013 and 2014. He has since 2014 been the Deputy Chairman of the Board of Directors, chairman of the Audit, Risk and Finance Committee, and a member of the Integration Committee of Martins Comércio e Serviço de Distribuição. He has since 2013, been a member of the Board of Directors of Grupo Rotoplas, where, two years subsequently, he joined the Audit, Risk and Finance Committee.

Joaquim Pedro Monteiro de Carvalho Collor de Mello Investor Relations Officer and alternate member of the Board of Directors of Monteiro Aranha. Effective member of the Board of Directors of Ultrapar Participações S.A. and alternate member of the Board of Directors of Klabin S.A.. He was an executive officer and director of Charles River Capital, an asset management company, director of the Astor Group, an American company active in mergers and acquisitions, and director of the Arnon de Mello Organization, a conglomerate of communication companies. He graduated in International Relations with a specialization in International Economics from Georgetown University (USA) - magna cum laude. Holds an MBA from Harvard Business School (USA)

Lilia Klabin Levine Businesswoman, CEO of LKL Participações S.A. and Esli Participações S/A, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. Officer at Jack Levine Participações Ltda. and shareholder of Levine Participações S/A. Has a Law degree from Universidade Mackenzie. Also attended the Escola de Sociologia e Política de São Paulo and the extensive Business Administration program of Fundação Getulio Vargas, in São Paulo. Interviewer and host of a TV show. Has supported and fostered Brazilian Popular Music for 20 years.

Marcelo Bertini de Rezende Barbosa Has a bachelor’s degree in Economics and a post-graduate degree in Finance from Pontifícia Universidade Católica do Rio de Janeiro, with specialization from the Harvard Business School. Currently a partner in nine companies in the State of São Paulo. Has experience in companies of renown such as IBM Brasil and McKinsey, with experience in the Accounting, Finance and Audit areas. President of Cinemark Brazil and formerly Chief Financial Officer and ice-President of the network. Also president of ABRAPLEX- Associação Brasileira das Empresas Exibidoras Cinematográficas Operadoras de Multiplex and member of the strategy committee of the Associação Brasileira de Lojistas de Shopping (Aishop).

Maria Eugênia Lafer Galvão Officer at GL Holdings S.A., managing partner of Klabin Irmãos & Cia., the Klabin Group’s holding company. Officer at GL Investimentos e Participações Ltda., at GL Agropecuária Ltda and at Gepel Rural Ltda. Has a bachelor’s degree in Journalism from Pontifícia Universidade Católica de São Paulo and a post-graduate degree in Journalism from Columbia University, NY, USA. Coordinator of the Instituto Jaborandi, a nonprofit organization that executes bespoke institutional projects, creating education projects for institutions, public education networks and companies that use custom educational IT.

Reinoldo Poernbacher Chemical Engineer, joined Petrobrás in 1967. Worked in the chemical and petrochemical industries. Held management roles at Cia Química Meacril, at Copener – Copene Energética S.A. and at Norcell S.A. From 1994 to 1999, held management roles in the former Klabin Bacell and has since then been the Managing Officer of the Klabin Florestal Business Unit and the Supply Chain Officer of Klabin S.A. CEO of Klabin S.A. from March 2008 to February 2011.

Ruan Alves Pires Partner and analyst at Charles River Capital. He joined Charles River Capital in 2013, where he was Director of Compliance and Risk and works in the equity analysis area. He holds a degree in Mechanical and Automotive Engineering from Instituto Militar de Engenharia (IME).

Tiago Curi Isaac Experience as a member of the Boards of Directors and Fiscal Councils of several companies and entities, such as: BBM Logística, Mercaprev, ABRASCA and ABVCAP. Has a Business Administration degree from Faculdade Trevisan, having taken the Advanced Management Program at the ESADE Business School and a specialization course in Competitive Marketing Strategy at the Wharton School of the University of Pennsylvania. Former Capital Markets Officer at B3.

Vera Lafer Lorch Cury Shareholder of VFV Participações S.A, managing partner of Klabin Irmãos & Cia, the Klabin Group’s holding company. Has ample experience in leadership positions, gained as manager of companies where she holds stock. These include Fazenda e Haras Boa Vista Ltda, which specializes in farming support activities.

Wolff Klabin Began his professional career with Banco Goldman Sachs and subsequently worked for the mergers and acquisitions and credit areas of Banco JP Morgan. Has since 2006 been a partner of Gestora de Recursos Jardim Botânico Partners. Alsop a board member of ORT Brazil, a nonprofit professional education school in Rio de Janeiro and of the David Rockefeller Center for Latin American Studies of Harvard University. Also a former alternate member of the Board of Directors of Klabin S.A. since 2019.

Candidates to Full Members of the Fiscal Council

Expected Date Expected date Term of Office, of Election if of Investiture if Number of consecutive if the Other positions Nominated by the the Independent terms served, if the Name Date of Birth Profession CPF/ Passport Position Management held with the the Controlling Management Management Member Management Proposal is Proposal is Company Shareholders Proposal is Proposal is Approved Approved Approved Approved

1 João Adamo Junior 12/29/1969 Lawyer 132.904.408-85 Member of the 03/24/2021 03/24/2021 2022 AGM None Yes No 5 Fiscal Council

João Alfredo Dias 2 06/25/1940 Accountant ]027.023.637-68 Member of the 03/24/2021 03/24/2021 2022 AGM None Yes No 18 Lins Fiscal Council

Raul Ricardo 3 04/05/1966 Economist 773.617.257-91 Member of the 03/24/2021 03/24/2021 2022 AGM None No Yes 3 Paciello Fiscal Council

2 Economist and 4. Louise Barsi 09/07/1994 343.307.008-32 Member of the 03/24/2021 03/24/2021 2022 AGM None No Yes Accountant Fiscal Council

Maurício Aquino 5. 03/27/1973 Accountant 694.701.200-78 Member of the 03/24/2021 03/24/2021 2022 AGM None No Yes 2 Halewicz Fiscal Council

Each individual candidate on the controlling shareholders’ nominated slate, as well as those indicated by Mr. Luiz Barsi Filho, has declared and represented that does not have any criminal conviction nor administrative proceedings within the Brazilian Securities and Exchange Commission – CVM neither any other administrative or judicial conviction leading to their suspension or disqualification from engagement in any professional or commercial activity.

FULL MEMBERS’ RÉSUMÉ

João Alfredo Dias Lins He graduated in accounting sciences from Faculdade de Ciências Contábeis e Administrativas Moraes Junior, Rio de Janeiro, RJ, on July 30, 1970. He began his professional career in 1962 at the external auditing firm Price Waterhouse & Peat, currently PriceWaterhouseCoopers, from where he left in April 1971 as manager of auditing. He joined Klabin Irmãos & Cia. in May of the same year, and left in December 1980 to work as a business consultant. In 1988 he attended the Advanced Management Program, administered by the Institut Européen d'Administration des Affaires - INSEAD, in Fontainebleau, France. Fiscal Director of Klabin S.A. since January 13, 1981. Vice-President of the Board of Trustees of Fundação Getúlio Vargas. Chairman of the Fiscal Council of Fundação Brasileira para o Desenvolvimento Sustentável – FBDS.

João Adamo Junior Founding Director and Manager, has 26 years of experience in the financial market. He is CVM manager and member of the Executive and Investment Committee of Cadence Gestora de Recursos. He has acted in several management positions in renowned institutions, such as vice president of structured products at Banco Fenícia from 1993 to 1997; head of structured products at Deutsche Bank from 1997 to 2000; founder of the joint venture Maxblue DTVM of Deutsche Bank with Banco do Brasil where he served as CEO; Was deputy head of the wealth management products platform at UBS São Paulo from 2003 to 2007, in 2006 also served as a senior executive in the integration of Banco Pactual with the UBS global platform and in 2007 as chief executive officer of Vision Brazil Investments; was director and member of the executive committee of Mainstay Asset Management and member of the supervisory board of Net between 2012 and 2013. He was a founding partner of More Invest Gestora de Recursos. He holds a degree in Law from Faculdade de Direito do Largo São Francisco, a degree in Business Administration from FGV-EAESP

Louise Barsi Has an Economics degree from Universidade Presbiteriana Mackenzie and an Accounting degree from Fundação Escola de Comércio Álvares Penteado, and a post-graduate degree in Capital Markets. Currently attending post-MBA program at the Saint Paul Business School, in the Advanced Boardroom Program for Women. Currently serves as a member of the Fiscal Councils of Klabin and Banco Santander, as an alternate member of the Board of Directors of Unipar Carbocloro S.A., and as a Director of Eternit S.A.

Maurício Aquino Halewicz Has an Accounting degree from Universidade Federal do Rio Grande do Sul and an Economic Engineering degree from Universidade Presbiteriana Mackenzie. Has an MBA in Corporate Finance from Fundação Getúlio Vargas – FGV, a post-graduate degree in Economic Engineering from Universidade Presbiteriana Mackenzie and a specialization degree in business administration from the University of Virginia (Darden School of Business Administration). Currently serves as Chief Financial Officer, Latin America, at CountouGlobal (a global energy player), former chairman of the Fiscal Council of Fibria Celulose S.A.,

alternate member of the Fiscal Council of Eneva S/A (a company active in electric energy generation), and has since November 2012 served as Chief Financial Officer of SPIC Pacific Hydro Energias do Brasil Ltda. (an entity active in the clean energy industry). Also served in Fibria Celulose S.A., from 2009 to 2013 as alternate member of the Board of Directors and of the Audit and Risk Committee. Served as Investor Relations Officer, Controllership Officer and Corporate Controllership Superintendent of Rede Energia S.A. (a publicly traded corporation active in the energy industry).

Raul Ricardo Paciello Governance, Risk and Compliance Manager at Monteiro Aranha. He is a member of the Fiscal Council of Klabin. He was Director of Risk, Compliance and PLD of the asset management company Charles River and was Financial Director of EMI Music, a British company in the phonographic industry. He has held several management, planning and control positions in different multinational companies from various sectors, such as: Packaging, Oil and Gas, Technology, Personal Care and Tobacco. Holds a BA in Economics from UGF, a Master's in Business Administration and an MBA in Corporate Finance from IBMEC, and a graduate degree in Economic Engineering and Industrial Administration from the National School of Engineering at UFRJ

Candidates to Alternate Members of the Fiscal Council

Expected Date of Expected date of Term of Office, Other Number of consecutive Election if the Investiture if the if the positions Nominated by Independent terms served, if the Name Date of Birth Profession CPF/ Passport Position Management Management Management held with the Controlling Member Management Proposal is Proposal is Proposal is Proposal is the Shareholders Approved Approved Approved Approved Company

Alternate Vivian do Valle 088.036.718- 1 04/03/1962 Lawyer member of the 03/24/2021 03/24/2021 2022 AGM None Yes Yes 0 Souza Leão Mikui 03 Fiscal Council

Antonio Marcos 053.610.478- 2 03/17/1964 Economist Alternate 03/24/2021 03/24/2021 2022 AGM None Yes No 20 Vieira Santos 64 member of the Fiscal Council

189.836.057- Alternate 3 Felipe Hatem 09/19/1990 Engineer 03/24/2021 03/24/2021 2022 AGM None No Yes 2 02 member of the Fiscal Council

Business 251.877.268- Alternate 4 Tiago Brasil Rocha 10/26/1975 03/24/2021 03/24/2021 2022 AGM None No Yes 2 Administrator 54 member of the Fiscal Council

Yes Michele da Silva 324.731.878- Alternate 5 11/25/1983 Lawyer 03/24/2021 03/24/2021 2022 AGM None No 0 Gonsales Torres 00 member of the Fiscal Council

Yes Geraldo Affonso 064.409.028- Alternate 6. -- Economist 03/24/2021 03/24/2021 2022 AGM None No 2 Ferreira 65 member of the Fiscal Council

Each individual candidate has declared and represented that does not have any criminal conviction nor administrative proceedings within the Brazilian Securities and Exchange Commission – CVM neither any other administrative or judicial conviction leading to their suspension or disqualification from engagement in any professional or commercial activity.

ALTERNATE MEMBERS’ RÉSUMÉS

Antonio Marcos Vieira Santos Graduated in Economic Sciences from Universidade São Judas Tadeu -São Paulo-SP, concluded in 1987, has worked in the accounting area since 1985 and in the financial area for over 20 years, having held intermediate and senior positions in companies such as: Siemens and McCann Erickson Publicidade. Member of the Fiscal Council of Klabin S.A. since April 1998.

Felipe Hatem Partner and Head of Risk, Compliance and PLD at Charles River Capital, which he joined in 2016. At Charles River Capital, he previously worked in the equity analysis area. He was an analyst at the asset management companies Vinci Partners and BBM Investimentos. He holds a degree in Production Engineering from the Federal University of Rio de Janeiro (UFRJ) and a CFA (Chartered Financial Analyst) certification.

Tiago Brasil Rocha Has a bachelor’s degree in Business Administration from Universidade Mackenzie. Post-graduate degree in Business Economics from Universidade de São Paulo – USP. Master of Administration from Fundação Getúlio Vargas – FGV and Executive MBA from Oxford University, England, UK. Founder and CEO of Build from Scratch and representative of the Green Innovation Group A/S for Latin America. Partner at SC Connection and a member of the Advisory Board of GotChosen (Orlando, FL, USA). With Klabin S.A., São Paulo, SP, from November 2011 to March 2018. From April/2004 to November 2011, served at Kimberly Clark Corporation (Dallas, TX, USA and São Paulo, SP). Also employed at Suzano Pulp and Paper Group from April/2000 to April/2004.

Michele da Silva Gonsales Torres Has a Bachelor of Law degree and a specialization degree in Corporate Law from Universidade Mackenzie. Currently a partner at ALFM Lawyers with experience in Corporate Governance, Compliance, Legal Departments Management, Risk Assessment and Management, Analysis, Drafting and Management of contracts in general, Corporate, Strategic legal planning for business structuring; Structuring operations involving Equity investment funds; Structuring operations involving real-estate projects; drafting expert legal opinions – Compliance, Corporations Law, Capital Markets. Member of the Compliance commission of the Instituto dos Advogados de SP- IASP; if the Compliance Commission of the Brazilian Bar Association – OAB/SP, of the Fiscal Council of Cemig (2018-2019) and of the Fiscal Council of Light since 2019.

Geraldo Affonso Ferreira Has a bachelor’s degree in Economics from Pontifícia Universidade Católica de Campinas and an MBA from de São Paulo. Currently serves as a member of the Audit Committees of SPTrans and CET, and of the Sustainability Committee and the Theme Commission of Instituto Brasileiro de Governança Corporativa – IBGC. As a professional, he has worked in the paper and pulp and forestry industries. An expert in P&L management, International business development,

marketing and sales, strategic and global business vision, finance, global production chains, and other areas, in addition to holding several IBGC certifications.

Vivian do Valle Souza Leão Mikui Bachelor of Law by Faculdades Metropolitanas Unidas - FMU (1988) and Bachelor of Business Administration by Instituto Presbiteriano Mackenzie (1998). Partner of the law firm Leão e Tohmé Advogados Associados for 15 years. In previous years, she has already been part of the Fiscal Council of Klabin S.A., both as a member and as an alternate, and currently serves as an alternate member of the Board of Directors.

12.6. Concerning each of the persons who served as members of the Board of Directors or Fiscal Council in the latest fiscal year, report, in table format, the percentage attendance at meetings of the respective corporate bodies in the period after investiture

The information on the table below is provided in connection with incumbent members of the Board of Directors and Fiscal Council who are running for office in the elections to be held at the 2021, based on the positions held in fiscal year 2020.

BOARD OF DIRECTORS

Total meetings held since % attendance since Effective Members the investiture (1) investiture Daniel Miguel Klabin 11 72.7% Armando Klabin 11 100% Horacio Lafer Piva 11 81.8% Israel Klabin 11 0% Paulo Sergio Coutinho Galvão Filho 11 81.8%

Roberto Klabin Martins Xavier 11 100% Roberto Luiz Leme Klabin 11 100% Vera Lafer 11 100% Francisco Lafer Pati 11 9.09% Celso Lafer 11 100% Mauro Gentile Rodrigues da Cunha 11 100% Camilo Marcantonio Junior 11 100%

Total meetings held since % attendance since Alternate Members the investiture (1) investiture Amanda Klabin Tkacz 11 100% Wolff Klabin 11 54.5% Alberto Klabin 11 100% Francisco Amaury Olsen 11 100% Lilia Klabin Levine 11 36.3% Marcelo Bertini de Rezende 11 36.3% Barbosa Vera Lafer Lorch Cury 11 9.09%

Joaquim Pedro Monteiro de 11 100% Carvalho Collor de Mello Sergio Francisco Monteiro de 11 100% Carvalho Guimarães Vivian do Valle Souza Leão Mikui 11 100%

(1) The total meetings held by the Board of Directors consider 4 regular meetings and 7 extraordinary meetings. FISCAL COUNCIL

Total meetings held since % attendance since Effective Members the investiture (1) investiture João Adamo Júnior 07 100% João Alfredo Dias Lins 07 100% Louise Barsi 07 100% Maurício Aquino Halewicz 07 100% Raul Ricardo Paciello 07 100%

Total meetings held since % attendance since Alternate Members the investiture (1) investiture Antônio Marcos Vieira Santos 07 0% Tiago Brasil Rocha 07 0% Geraldo Affonso Ferreira Filho 07 0% Felipe Hatem 07 0%

(2) The total meetings held by the Fiscal Council considers 3 regular meetings and 4 extraordinary meetings.

12.7. Members of the statutory committees, audit committees, risk committee, financial committees and compensation committee:

Out of the candidates running for election to the Board of Directors to be held at the AEGM, in fiscal year 2020(i) Ms. Amanda Klabin Tkacz is a member of the Audit and Related Parties Committee; (ii) Mr. Francisco Amaury Olsen and Mr. Horácio Lafer Piva are members of the Compensation Committee; and (iii) Mr. Israel Klabin, Mr. Roberto Luiz Leme Klabin and Mr. Reinoldo Poernbacher are members of the Sustainability Committee. These advisory committees were formed in late 2020, and their members held the first meetings thereof in early 2021.

Information on said persons can be found described in foregoing item 12.5.

12.8. Percentage attendance of each person serving as a member of statutory committees, audit committees, risk committee, financial committees and compensation committee at meetings held in the last fiscal year by the respective committee after investiture:

AUDIT AND RELATED PARTIES COMMITTEE

Total meetings since % attendance since Effective Members investiture investiture

Amanda Klabin Tkacz 01 100%

SUSTAINABILITY COMMITTEE

Total meetings since % attendance since Effective Members investiture investiture

Israel Klabin 01 100%

Roberto Luiz Leme Klabin 01 100%

Reinoldo Poernbacher 01 100%

COMPENSATION COMMITTEE

Total meetings since % attendance since Effective Members investiture investiture

Horacio Lafer Piva 02 100%

Francisco Amaury Olsen 02 100%

12.9. Marriage, common-law marriage or kinship of to the 2nd degree between (i) managers of the Company; (ii) managers of the Company and managers of directly or indirectly controlled subsidiaries of the Company; (iii) managers of the Company or their direct or indirect subsidiaries, and direct or indirect controlling shareholders of the Company; and (iv) managers of the Company and managers of the Company’s directly or indirectly controlling entities.

GL Holdings S/A CNPJ 53.728.895/0001-41 Name and Position CPF Related Party CPF Relationship type Paulo Sergio Coutinho Galvão Filho Graziela Lafer Galvão Vice-Presidente 040.443.368-57 Father or Mother (1st degree by consanguinity) Presidente 012.072.688-28

Dawojobe Participações S/A CNPJ: 30.280.465/0001-04 Name and Position CPF Related Party CPF Relationship type Armando Klabin Israel Klabin 008.144.407-97 Brother or Sister (1st degree by consanguinity) Presidente Diretor 008.143.857-53 Armando Klabin Daniel Miguel Kabin 008.144.407-97 Brother or Sister (1st degree by consanguinity) Presidente Diretor 008.143.777-34 Armando Klabin 008.144.407-97 Wolff Klabin Acionista Son or Daughter (1st degree by consanguinity) Presidente 018.376.457-95

Daro Participações S/A CNPJ: 008.143.777-34 Name and Position CPF Related Party CPF Relationship type Daniel Miguel Klabin Armando Klabin 008.143.777-34 008.144.407-97 Brother or Sister (1st degree by consanguinity) Presidente Presidente Daniel Miguel Klabin Israel Klabin 008.143.777-34 008.143.857-53 Brother or Sister (1st degree by consanguinity) Presidente Diretor Daniel Miguel Klabin Amanda Klabin Tkacz 008.143.777-34 047.868.957-84 Son or Daughter (1st degree by consanguinity) Presidente Acionista

Glimdas Participações S/A CNPJ: 30.526. 602/0001-48 Name and Position CPF Related Party CPF Relationship type Israel Klabin Armando Klabin 008.144.407-97 Brother or Sister (1st degree by consanguinity) Presidente 008.143.857-53 Diretor Israel Klabin Daniel Miguel Klabin 008.143.777-34 Brother or Sister (1st degree by consanguinity) Presidente 008.143.857-53 Diretor Israel Klabin Alberto Klabin 261.062.567-72 Son or Daughter (1st degree by consanguinity) Presidente 008.143.857-53 Acionista

VFV Participações S/A CNPJ:72.872.146/0001-38 Name and Position CPF Related Party CPF Relationship type Vera Lafer Francisco Lafer Pati 380.289.138-49 256.483.558-90 Son or Daughter (1st degree by consanguinity) Presidente Diretor Vera Lafer Vera Lafer Lorch Cury 380.289.138-49 060.657.498-000 Son or Daughter (1st degree by consanguinity) Presidente Diretora

LKL Participações S/A CNPJ: 00. 288.075/0001-1O Name and Position CPF Related Party CPF Relationship type Lilia Klabin Levine Roberto Klabin Martins Presidente 300.825.448-91 Xavier 153.181.088-81 Son or Daughter (1st degree by consanguinity) Diretor

Presh S/A CNPJ: 53.728.903/0001-50 Name and Position CPF Related Party CPF Relationship type Horácio Lafer Piva - Eduardo Lafer Piva - 038.613.618-17 029.198.238-76 Son or Daughter (1st degree by consanguinity) Diretor/Acionista Diretor/Acionista

12.10 – Subordination, retainer or control ties between managers and (i) entities under the direct or indirect control of the issuer, except for those where the issuer directly or indirectly holds the entirety of equity capital, (ii) directly or indirectly controlling shareholder of the issuer, and (iii) where relevant, a supplier, customer, obligor or creditor of the issuer, a controlled entity or controlling shareholder of the issuer, or a controlled entity or controlling shareholder of any of the foregoing

ADI – Administração e Serviços Ltda.

Fiscal year Name Type of Tie 2020 João Alfredo Dias Lins Services rendered 2019 João Alfredo Dias Lins Services rendered 2018 João Alfredo Dias Lins Services rendered

APPENDIX IV

PROPOSED COMPENSATION OF MANAGERS PURSUANT TO ARTICLE 481, ITEM 1, OF INSTRUCTION 481

Pursuant to Article 12, item I, of 481, we provide next the proposed annual and global compensation of the members of the Board of Directors, of the statutory and non-statutory Officers, and the individual compensation of the members of the Company’s Fiscal Council, approved by majority vote, with the favorable vote of all the members of the Board of Directors, except for the director Mauro Gentile Rodrigues da Cunha, recorded in the minutes of the Board of Directors' Meeting held on February 19, 2021.

Therefore, concerning the fiscal year ending December 31, 2021, we propose as compensation of the managers an amount up to fifty-six million, one hundred and sixty-three thousand, five hundred and thirty-three Brazilian Reais and seventy-six centavos (R$ 56.163.535,76) (“Overall Management Compensation”).

The Overall Management Compensation shall include salaries/fees, variable compensation, and contribution to social security as recognized in the Company’s bottom line. It shall be the Company’s Board of Directors’ responsibility to establish individual compensation and, as the case may be, the awarding of representation allowances and any benefits, pursuant to Article 152 of the LSA.

Management declares that the Overall Management Compensation has been set given the extensive experience and in-depth know-how that the Company’s activities and operations require. In addition, compensation takes into account the managers’ recognized reputation, as well as the need to maintain and recognize individual talents of the Company, which operates in an increasingly competitive market.

The compensation awarded to the Fiscal Council shall be no less, for each member, than ten (10) percent of the average compensation awarded to the Company’s statutory officers, except benefits, representation allowances and profit sharing, pursuant to Article 162, 3, of the LSA.

Finally, Management also proposes the re-ratification of the overall compensation approved for FY 2020, as the effective amount of fifty million, six hundred and twenty-eight thousand, four hundred and ninety-one Brazilian Reais and fifty-seven centavos (R$ 50.628.491,57 exceeds the originally approved amount of forty-eight million, six hundred and eighty-five thousand, seven hundred and thirty-three Brazilian Reais and four centavos (R$ 48.685.733,04 ). This is mainly due to the appreciation of the Company’s Units during the fiscal year, which affected the book provisions for the variable compensation pegged to the Company’s Long-Term Incentives Program in the “Performance” mode.

APPENDIX V

PROPOSED MANAGEMENT COMPENSATION PURSUANT TO ARTICLE 12, ITEM II, OF INSTRUCTION 481

13.1. Policy and practice governing compensation of the board of directors, statutory and non- statutory officers, members of the fiscal council, members of statutory committees and members of the audit, risk, financial and compensation committees, as concerns the following: a. purposes of the compensation policy or practice, reporting whether or not the compensation policy has been formally approved, the corporate body responsible for its approval, the date of approval, and, where the issuer has disclosed the policy, the locations on the World Wide Web where the document may be viewed:

Our compensation practices are intended to (i) align managers and employees with the Company’s strategy, (ii) provide adequate compensation to our managers and employees by means of competitive compensation comparted with the relevant market, (iii) attract, retain and recognize high-performance workers, fostering a meritocratic culture, and (iv) reflect short- and long-term objectives, as well as the individual performance of managers and employees.

The Board of Directors and the General Meeting have approved the Company's compensation plan and the Overall Management Compensation. b. compensation breakdown, indicating: (i) description of the components of compensation and the purposes of each; (ii) concerning the past 3 fiscal years, the share of each component in total compensation; (iii) the calculation and restatement method for each component of compensation; (iv) reasons justifying the compensation breakdown; (v) presence of members with no compensation from the issuer and the reasons for their presence.

(i) description of the components of compensation and the purposes of each:

Board of Directors and Fiscal Council

Compensation of the Board of Directors and of the Fiscal Council aims to provide compensation for performance of the position. Members receive fixed monthly fees plus benefits (life insurance and healthcare plan).

Statutory Officers

Compensation of the Statutory Officers breaks down into monthly fees, short- and long-term incentives, benefits (life insurance, healthcare plan, grocery vouchers, meal vouchers, private pension plan, and medical checkup) and FGTS (Time-in-Employment Fund).

The fixed compensation (monthly fee) strategy is to align with the relevant market’s median, as well as with the practices applicable to the benefits package.

Short- and long-term incentives rely on indicators associated with the business strategy and cycle, enabling a closer alignment with shareholders. Compared with the relevant market, we maintain a position in the 3rd quartile, reinforcing the connection between compensation and Klabin’s healthy and sustainable growth

Non-Statutory Officers

Compensation of the Non-Statutory Officers breaks down into a base salary, short- and long-term incentives, benefits (life insurance, healthcare plan, grocery vouchers, meal vouchers, private pension plan, and medical checkup) and legal rights pursuant to the law (paid vacations, yearend bonus and FGTS).

The Company’s strategy for fixed compensation and short- and long-term incentives is the same applicable to the Statutory Officers.

(ii) each component’s share of total compensation in the last 3 fiscal years:

Fiscal year ending December 31,

BOARD OF DIRECTORS 2020 2019 2018 1. Fixed compensation (a) Fees 93.4% 93.1% 93.3% 3. Benefits 6.6% 6.9% 6.7% 2. Variable compensation (a) Short-Term 0.0% 0.0% 0.0% (b) Long-Term 0.0% 0.0% 0.0% TOTAL 100.00% 100.00% 100.00%

Fiscal year ending December 31,

STATUTORY OFFICERS 2020 2019 2018 1. Fixed compensation (b) Fees 34.5% 31.9% 33.6% 3. Benefits 5.4% 4.2% 4.4% 2. Variable compensation (c) Short-Term 37.6% 40.7% 38.8% (d) Long-Term 22.5% 23.2% 23.2% TOTAL 100.00% 100.00% 100.00%

Fiscal year ending December 31,

2020 2019 2018 NON-STATUTORY OFFICERS 1. Fixed compensation (c) Fees 40.17% 41.2% 42.0% 3. Benefits 6.0% 5.6% 6.1% 2. Variable compensation (e) Short-Term 34.8% 33.8% 32.6% (f) Long-Term 19.0% 19.4% 19.4% TOTAL 100.00% 100.00% 100.00%

Fiscal year ending December 31,

FISCAL COUNCIL 2020 2019 2018 1. Fixed compensation (d) Fees 95.7% 94.3% 94.5% 3. Benefits 4.3% 5.7% 5.5% 2. Variable compensation (g) Short-Term 0.0% 0.0% 0.0% (h) Long-Term 0.0% 0.0% 0.0% TOTAL 100.00% 100.00% 100.00%

(i) Calculation and adjustment methods for each compensation component:

The annual amount to be used for the overall compensation of management (Directors and Statutory Officers) is set at the Company’s Annual General Meeting.

The Company is supported by Korn Ferry do Brasil, a specialized consultancy firm retained to conduct an annual compensation survey of companies with similar characteristics that are recognized for their best management and human resources practices, to determine the competitiveness of our compensation practices vis-à-vis the relevant market. Compensation adjustment decisions take account of deliveries, skills, performance, potential and salary status, with additional input from the market survey.

The Company also has a Compensation Committee as an advisory body to the Board of Directors, created on October 23, 2020, which has among its duties that of examining and discussing the compensation guidelines for the members of the Executive Board to be submitted to the Board of Directors, including the criteria for compensation (fixed and variable), benefits, and other recognition or award programs, taking into account the best market practices

(iv) reasons justifying the compensation breakdown:

The compensation is broken down in such a manner as to attract, retain and recognize the performance of our professionals, align our practices with best market practices, pursue commitment to results and alignment with the strategic objectives of the Company and its shareholders.

(v) presence of members without compensation from the issuer and the reason for their presence:

None. c. main performance indicators considered to determine each compensation component:

- STI: the parameters for short-term incentives include financial performance indicators (EBITDA, Net Revenues, Working Capital) and individual targets measuring each Executive’s performance.

Examples of individual targets agreed with our Executives include: fixed cost, production volume, sales volume, quality, environmental indicators, diversity, safety, and others.

- LTI: as for long-term incentives, we have two programs in place to stimulate attainment of results and align the interests of participants with those of the Company’s shareholders:

- LTI Matching: a Units (KLBN11) based program with a 3-year vesting period. The performance indicator is pegged to the Company’s operational performance and value generation. For more information regarding the program, please reach item 13.4.

- Performance LTI: Its rules are approved by the Board of Directors of Klabin S/A.The objective of this Program is to obtain alignment with the strategy of the Company and its Shareholders, conditioning the award to the achievement of a performance target, namely TSR (Total Shareholder Return) X Cost of Equity (Ke). The target value corresponds to 25% of the targeted short term variable compensation of each executive, based on the fees prevailing in the month of January of the fiscal year. This target value is converted into "virtual units", considering the average price of the last 30 trading sessions of the year prior to the current plan. The plan has a duration of 5 years and its payment is conditioned to the attainment of performance targets after this period of 5 years (vesting), in addition to permanence at Klabin. Once reached the performance target, in addition to the "virtual units", the executive will be entitled, as additional income from the ILP Performance, to the amount equivalent to dividends and/or interest on equity distributed by KLABIN S.A. to the shareholders during the vesting period. These amounts are converted into "virtual units" over the 5-year vesting period and accumulated in a chart account. Once the 5-year period has elapsed, in addition to calculating the achievement of the performance indicator, a discretionary evaluation is made by the Board of Directors, in which it may be modulated, increased or reduced by up to 10% over the final result, with the intention of mitigating exogenous impacts. For the payment of the Performance LTI, provided that the performance objective is reached, the total number of "virtual units" related to each Plan will be converted into values by the unit price (KLBN11), considering the average of the last 30 trading sessions before the closing of the plan. The payment to the executive will be made as a Bonus.

d. how the Company structures compensation to reflect the evolution of performance indicators:

As concerns short-term incentives, we assign weights to each indicator as follows:

- 55% pegged to the EBITDA performance indicator.

- 15% pegged to the Net Revenue performance indicator.

- 10% pegged to the Working Capital performance indicator.

- 20% pegged to individual targets agreed at the beginning of each fiscal year.

Target achievement is determined at the end of each year.

The short-term incentives paid may range from 0% to 150%, where 100% reflects achievement of the target. e. how the compensation policy aligns with the Company’s short-, medium- and long-term interests:

In the short term, the Company pursues alignment by means of competitive salaries and a benefits package compatible with the market, enabling the attraction of skilled and high-performance workers.

In the medium term, the Company pursues alignment by means of the previously described STI program, which is made up of financial performance and individual performance indicators aligned with the company’s strategy.

In the long run, we strengthen commitment and converging interests between the Company, shareholders, stakeholders and employees by means of the previously described STI Matching and STI Performance programs. f. presence of compensation supported by subsidiaries, controlled entities or directly or indirectly controlling shareholders:

No compensation or benefits are supported by subsidiaries, controlled entities or directly or indirectly controlling shareholders of the Company. g. presence of any compensation or benefits pegged to the passing of certain corporate events, such as divestment of the Company’s controlling stake:

No compensation or benefits are pegged to the passing of corporate events. However, concerning the Company’s long-term incentives, a control change shall anticipate the vesting periods of both LTI programs. In the case of LTI Matching, this will exempt executives from giving the Company right preemptive rights over the Units acquired and anticipating the transfer of title over the Units under usufruct. h. Board of Directors practices and procedures in place to define individual compensation of the Board of Directors and the Executive Board, indicating:

i. the issuer’s bodies and committees involved in the decision-making process, identifying the manner of their involvement:

The Company’s Annual General Meeting approves the annual amount allocated to the overall compensation of its managers (Directors and Statutory Officers).

The Compensation Committee, created on October 23, 2020 is responsible, among other aspects, for evaluating the Management proposal on the amount of the Overall Management Compensation to be submitted to the Board of Directors, as well as to evaluate the compensation model for the Company’s Officers to be submitted to the Board of Directors.

ii. criteria and methods used to set individual compensation amounts, indicating whether or not surveys are used to determine market practices and, if so, the studies’ comparison criteria and scope:

The Company has support from Korn Ferry do Brasil, specialized consultancy firm retained to conduct an annual compensation survey of companies with similar characteristics that are recognized for their best management and human resources practices, to determine the competitiveness of our compensation practices vis-à-vis the relevant market. The survey also provides inputs on needs to adjust our employees’ compensation.

iii. how often and in what manner does the Board of Directors review the adequacy of the issuer’s compensation policy:

The Company’s Board of Directors reviews the Company’s compensation practices on an annual basis.

13.2. Concerning the compensation recognized in the past three fiscal years’ results and the expected compensation for the present fiscal year, as concerns the Board of Directors, Statutory Officers and members of the Fiscal Council:

Expected compensation for the present o Fiscal Year, December 31, 2021 – Annual Amount

(in R$ ) Board of Directors Statutory Officers Fiscal Council Total

No. of members 13 4 5 22

No. of compensated 13 4 5 22 members

Annual fixed compensation

Salary or fee R$ 12,202,765.38 R$ 8,430,293.36 R$ 1,660,945.00 R$ 22,294,003.74

Direct and indirect R$ 1,128,962.71 R$ 1,684,715.73 R$ 83,581.99 R$ 2,897,260.44 benefits

Attendance at 0.00 0.00 R$ 1,080,000.00 committees R$ 1,080,000.00

Other R$ 332,189.00 R$ 4,549,907.51 R$ 2,656,553.08 R$ 1,561,165.44

Describe other Reflects the amount of Reflects the amount of Reflects the amount of fixed the INSS contribution the INSS contribution the INSS contribution compensation

Variable compensation

Bonus 0.00 R$ 20,212,130.12 0.00 R$ 20,212,130.00

Profit sharing 0.00 0.00 0.00 0.00

Attendance at 0.00 0.00 0.00 0.00 meetings

Commissions 0.00 0.00 0.00 0.00

Other 0.00 R$ 3,742,987.06 0.00 R$ 3,742,987.06

Describe other Reflects the amount of variable the INSS contribution compensation

Post-employment 0.00 0.00 0.00 0.00

Termination 0.00 0.00 0.00 0.00

Share-based 0.00 R$ 3,463,962.89 0.00 R$ 3,463,962.89

Total R$ 17,068,281.16 R$ 39,095,254.60 R$ 2,076,715.99 R$ 58,240,251.76 compensation

Total compensation in the Fiscal Year ending December 31, 2020 – Annual Amount

(in R$ ) Board of Directors Statutory Officers Fiscal Council Total

No. of members 13.58 4 5 22.58

No. of compensated 13.58 4 5 22.58 members

Annual fixed compensation

Salary or fee R$ 12,708,205.35 R$ 7,321,177.12 R$ 1,660,945.00 R$ 21,690,327.47

Direct and indirect R$ 1,001,769.90 R$ 1,316,909.90 R$ 74,124.09 R$ 2,392,803.89 benefits

Attendance at 0.00 0.00 0.00 0.00 committees

Other R$ 2,541,641.07 R$ 1,355,773.54 R$ 332,189.00 R$ 4,229,603.61

Describe other Reflects the amount of Reflects the amount of Reflects the amount of fixed the INSS contribution the INSS contribution the INSS contribution compensation

Variable compensation

Bonus 0.00 R$ 17,778,718.43 0.00 R$ 17,778,718.43

Profit sharing 0.00 0.00 0.00 0.00

Attendance at 0.00 0.00 0.00 0.00 meetings

Commissions 0.00 0.00 0.00 0.00

Other 0.00 R$ 3,292,355.26 0.00 R$ 3,292,355.26

Describe other Reflects the amount of variable the INSS contribution compensation

Post-employment 0.00 0.00 0.00 0.00

Termination 0.00 0.00 0.00 0.00

Share-based 0.00 R$ 3,311,941.00 0.00 R$ 3,311,941.00

Total R$ 16,251,616.32 R$ 34,376,875.25 R$ 2,067,258.09 R$ 52,695,749.66 compensation

Total compensation in the Fiscal Year ending December 31, 2019 – Annual Amount

(in R$ ) Board of Directors Statutory Officers Fiscal Council Total

No. of members 13.67 3.42 5.00 22.08

No. of compensated 13.67 3.42 5.00 22.08 members

Annual fixed

compensation

Salary or fee 12,995,923.72 6,456,229.20 1,660,949.00 21,113,101.92

Direct and indirect 969,876.59 1,086,620.36 99,896.30 2,156,393.25 benefits

Attendance at

committees

Other 2,599,184.74 1,195,598.00 332,189.80 4,126,972.54

Describe other Reflects the amount of Reflects the amount of Reflects the amount of fixed the INSS contribution the INSS contribution the INSS contribution compensation

Variable

compensation

Bonus 0.00 R$ 9,007,930.50 0.00 9,007,930.50

Profit sharing 0.00 0.00 0.00 0.00

Attendance at 0.00 0.00 0.00 0.00 meetings

Commissions 0.00 0.00 0.00 0.00

Other 0.00 1,668,135.28 0.00 1,668,135.28

Describe other Reflects the amount of variable the INSS contribution compensation

Post-employment 0.00 0.00 0.00 0.00

Termination 0.00 0.00 0.00 0.00

Share-based 0.00 3,011,230.84 0.00 3,011,230.84

The number of The number of The number of members of the members of the members of the Company’s Board of Company’s Board of Company’s Board of Directors, Fiscal Directors, Fiscal Directors, Fiscal Council and Statutory Council and Statutory Council and Statutory Note Executive Board was Executive Board was Executive Board was calculated based on the calculated based on the calculated based on the contents of CVM contents of CVM contents of CVM Official Letter SEP Official Letter SEP Official Letter SEP 02/2020 02/2020 02/2020

Total 16,564,985.06 22,425,744.18 2,093,035.10 41,083,764.33 compensation

Total compensation in the Fiscal Year ending December 31, 2018 – Annual Amount

Board of Directors Statutory Officers Fiscal Council Total

No. of members 13.00 4.00 5.00 22.00

No. of compensated 13.00 4.00 5.00 22.00 members

Annual fixed

compensation

Salary or fee 12,628,513.00 6,890,400.00 1,660,958.00 21,179,871.00

Direct and indirect 905,925.66 1,027,914.61 96,666.81 2,030,507.08 benefits

Attendance at 0.00 0.00 0.00 0.00 committees

Other 2,525,702.60 1,276,000.00 332,191.60 4,133,894.20

Describe other Reflects the amount of Reflects the amount of Reflects the amount of fixed the INSS contribution the INSS contribution the INSS contribution compensation

Variable

compensation

Bonus 0.00 11,628,677.81 0.00 11,628,677.81

Profit sharing 0.00 0.00 0.00 0.00

Attendance at 0.00 0.00 0.00 0.00 meetings

Commissions 0.00 0.00 0.00 0.00

Other 2,153,458.85 2,153,458.85

Describe other Reflects the amount of variable the INSS contribution compensation

Post-employment 0.00 0.00 0.00 0.00

Termination 0.00 0.00 0.00 0.00

Share-based 0.00 2,312,756.38 0.00 2,312,756.38

Note

Total 16,060,141.26 25,289,207.66 2,089,816.41 43,439,165.33 compensation

13.3. Concerning the variable compensation in the past three fiscal years and that expected for the current fiscal year, as concerns the Board of Directors, Statutory Officers and Fiscal Council:

EXPECTED VARIABLE COMPENSATION FOR THE CURRENT FISCAL YEAR (12/31/2021)

Board of Statutory Directors Officers Fiscal Council Total

No. of members 13 4 5 22

No. of compensated members 13 4 5 22

BONUS

Minimum under the R$ 3,792,240.10 R$ 3,792,240.10 compensation plan

Maximum under the R$ 20,212,130.12 R$ 20,212,130.12 compensation plan

Expected under the compensation plan if the R$ 14,816,227.87 R$ 14,816,227.87 targets are achieved

Effectively recognized amount for the fiscal year

PROFIT SHARING

Minimum under the compensation plan

Maximum under the compensation plan1

Expected under the compensation plan if the targets are achieved

Effectively recognized amount for the fiscal year

VARIABLE COMPENSATION – FISCAL YEAR ENDING 12/31/2020

Board of Statutory Directors Officers Fiscal Council Total

No. of members 13.58 4 5 22.58

No. of compensated members 13.58 4 5 22.58

BONUS

Minimum under the R$ 3,306,933.01 R$ 3,306,933.01 compensation plan

Maximum under the R$ 15,544,279.88 R$ 15,544,279.88 compensation plan

Expected under the compensation plan if the R$ 10,838,911.35 R$ 10,838,911.35 targets are achieved

Effectively recognized R$ 17,778,718.43 R$ 17,778,718.43 amount for the fiscal year

PROFIT SHARING

Minimum under the compensation plan

Maximum under the compensation plan

Expected under the compensation plan if the targets are achieved

Effectively recognized amount for the fiscal year

VARIABLE COMPENSATION – FISCAL YEAR ENDING 12/31/2019

Board of Statutory Directors Officers Fiscal Council Total

No. of members 13.67 3.42 5.00 22.08

No. of compensated members 13.57 3.42 5.00 22.08

BONUS

Minimum under the 2,928,020.04 2,928,020.04 compensation plan

Maximum under the 13,196,656.00 13,196,656.00 compensation plan

Expected under the compensation plan if the 10,242,995.65 10,242,995.65 targets are achieved

Effectively recognized 9,007,930.50 9,007,930.50 amount for the fiscal year

PROFIT SHARING

Minimum under the compensation plan

Maximum under the compensation plan

Expected under the compensation plan if the targets are achieved

Effectively recognized amount for the fiscal year

VARIABLE COMPENSATION – FISCAL YEAR ENDING 12/31/2018

Board of Statutory Directors Officers Fiscal Council Total

No. of members 13.00 4.00 5.00 22.00

No. of compensated members 13.00 4.00 5.00 22.00

BONUS

Minimum under the 2,794,817.40 2,794,817.40 compensation plan

Maximum under the 12,834,000.00 12,834,000.00 compensation plan

Expected under the compensation plan if the 8,556,000.00 8,556,000.00 targets are achieved

Effectively recognized 11,628,677.81 11,628,677.81 amount for the fiscal year

PROFIT SHARING

Minimum under the compensation plan

Maximum under the compensation plan

Expected under the compensation plan if the targets are achieved

Effectively recognized amount for the fiscal year

13.4. Share-based compensation plan of the Board of Directors and Statutory Officers a) General terms and conditions

This plan is intended for the Executive Board, not for members of the Board of Directors. The Extraordinary General Meeting held on July 10, 2012, approved the Long Term Variable Compensation plan which has been duly authorized by the Brazilian Securities and Exchange Commission - CVM pursuant to OFICIO / CVM / SEP / GEA-2 / No 221/2012, and contemplates the beneficiary’s right to convert a portion of their bonus into acquisition of units (KLBN11) of the Company (up to 25%) held in treasury.

Company shall, under the “Usufruct Agreement”, reciprocate by matching the number of units acquired by management at 100% upon presentation of the “Treasury Units Purchase Agreement”.

Beneficiaries shall be entitled to collect dividends and interest on shareholders’ equity associated with the Units under usufruct, as long as duly declared and approved by the relevant bodies of the Company, pursuant to the law and to the Company’s bylaws and internal charters. b) Main purpose of the plan

The purpose of this instrument is to align the interests of employees with Klabin’s long-term strategy, increasing the commitment of beneficiaries to achievement of sustainable results for the Company and its shareholders. c) How the plan contributes to this purpose

The plan aims to retain employees and align their interests with the Company’s, reinforcing engagement with the attainment of the selected goals even as it contributes to the continued maximization of the Company’s value. d) How the plan fits into the issuer’s compensation policy

The awarding of Units is a widely used practice in Brazil and abroad, maintaining the Company’s market competitiveness in addition to aligning beneficiaries with the Company’s strategy and interests. The policy pegs increases to an executive’s compensation to the Company’s increased operational efficiency and to long-term sustainable results. e) How the plan aligns the interests of managers with those of the issuer in the short, medium and long term

The purpose of the plan is to establish long-term incentive mechanisms to encourage beneficiaries to acquire Units and foster their alignment with the Company’s strategy and results (global, regional and individual).

The program also aims to attract and retain talented workers who add value to the Company, to foster achievement of the Company’s objectives, and to align the interests of the beneficiaries with those of the Company.

f) Maximum number of shares covered

The maximum number of Units covered by the plan does not exceed the number of Treasury Units. g) Maximum number of options to be awarded

The Company’s plan does not provide for options. h) Stock purchase terms

According to the plan, executives shall have the right to use a portion of their bonuses to acquire Units of the Company. i) Purchase or strike pricing criteria

The Unit price shall be obtained by averaging the Company’s units’ market quote in the past 60 trading sessions or the market value on the eve of the purchase, whichever is lower. j) Exercise period criteria

Executives shall hold the units acquired for a period of three (3) years to make ensure the consistency and quality of the results achieved. (As complementary information, another long-term incentive plan exists that is cash-based rather than share-based, and with a vesting period of five years). k) Settlement

According to the clauses governing effective transfer of the units awarded, the beneficiary shall not resign or divest the units acquired upon entry into the plan for a 3-year vesting period. After the vesting period has run, absent the restrictions under the plan, the Company shall transfer title over the Units to the executive, consolidating full ownership thereof. Units awarded may also be immediately conveyed in the event of a beneficiary’s retirement or death; in the latter case, title over the units shall convey to their estate.

If a beneficiary is terminated form the Company without cause, and as long as the other conditions are fulfilled, they shall retain the right to full ownership of the shares after the vesting period. l) Restrictions on share transfers

Executives shall hold the Units awarded and acquired for a period of three (3) years. m) Criteria that, upon occurrence, shall cause suspension, amendment or termination of the plan

Usufruct shall cease in the event of a beneficiary’s noncompliance with any of the following: a) remaining as a full-time manager or employee of the Company for a period of three (3) years from execution of the present Instrument; b) refraining from playing a role in or being bound to, in any way and for any cause, societies or entities that compete with the Company; c) refraining from

transferring units acquired by means of the Treasury Units Purchase Agreement for a period of three (3) years. n) Effects of a manager’s removal or resignation from the issuer’s corporate bodies on their rights under the share-based compensation plan

Usufruct shall cease in the event of a beneficiary’s noncompliance with any of the following: a) remaining as a full-time manager or employee of the Company for a period of three (3) years from execution of the present Instrument; b) refraining from playing a role in or being bound to, in any way and for any cause, societies or entities that compete with the Company; c) refraining from transferring units acquired by means of the Treasury Units Purchase Agreement for a period of three (3) years.

13.5. Concerning the share-based compensation of the Board of Directors and Statutory Officers recognized in the past three fiscal years and that expected for the current fiscal year,: Information on the amounts under the share-based compensation plan for the Executive Board (not including members of the Board of Directos) is available in item 13.2 and the respective explanations are provided in item 13.4. See, also, 13.16, as well as the following information:

2021 1/1/21 12/31/21 a) Body Statutory Board Statutory Board Statutory Board Statutory Board b) Total number of members 4,00 4,00 4,00 4,00 c) Number of compensated members 4,00 4,00 4,00 4,00 d) Regarding each grant of Stock Options: LTI 2020 LTI 2019 LTI 2018 LTI 2017 i. Grant Date 2/26/21 2/28/20 2/28/19 2/28/18 ii. Number of options granted 113.253 iii. Timing for options to become exercisable 2/26/24 2/28/23 2/28/22 3/1/21 iv. Maximum term for exercising options N/A N/A N/A N/A v. Restriction period for transfer of shares N/A N/A N/A N/A vi. Weighted average price in each of the following stock groups: fair value as of · outstanding at the beginning of the fiscal year R$ 19,25 R$ 18,04 R$ 17,90 02/26/2021 · lost during the fiscal year R$ - R$ - R$ - R$ -

· exercised during the fiscal year R$ 17,90

· expired during the fiscal year N/A N/A N/A N/A

2020 1/1/20 12/31/20 a) Body Statutory Board Statutory Board Statutory Board Statutory Board b) Total number of members 4,00 4,00 4,00 4,00 c) Number of compensated members 4,00 4,00 4,00 4,00 d) Regarding each grant of Stock Options: LTI 2019 LTI 2018 LTI 2017 LTI 2016 i. Grant Date 2/28/20 2/28/19 2/28/18 2/24/17 ii. Number of options granted 122.478 iii. Timing for options to become exercisable 2/28/23 2/28/22 3/1/21 2/25/20 iv. Maximum term for exercising options N/A N/A N/A N/A v. Restriction period for transfer of shares N/A N/A N/A N/A vi. Weighted average price in each of the following stock groups: · outstanding at the beginning of the fiscal year R$ 19,25 R$ 18,04 R$ 17,90 R$ 15,50

· lost during the fiscal year R$ - R$ - R$ - R$ -

· exercised during the fiscal year R$ 15,50

· expired during the fiscal year N/A N/A N/A N/A

2019 1/1/19 12/31/19 a) Body Statutory Board Statutory Board Statutory Board Statutory Board b) Total number of members 3,17 3,17 3,17 3,17 c) Number of compensated members 3,17 3,17 3,17 3,17 d) Regarding each grant of Stock Options: LTI 2018 LTI 2017 LTI 2016 LTI 2015 i. Grant Date 2/28/19 2/28/18 2/24/17 2/29/16 ii. Number of options granted 125.564 iii. Timing for options to become exercisable 2/28/22 3/1/21 2/25/20 3/1/19 iv. Maximum term for exercising options N/A N/A N/A N/A v. Restriction period for transfer of shares N/A N/A N/A N/A vi. Weighted average price in each of the following stock groups:

· outstanding at the beginning of the fiscal year R$ 18,04 R$ 17,90 R$ 15,50 R$ 21,50

· lost during the fiscal year R$ - R$ - R$ - R$ -

· exercised during the fiscal year R$ 21,50

· expired during the fiscal year N/A N/A N/A N/A

2018 1/1/18 12/31/18 a) Body Statutory Board Statutory Board Statutory Board Statutory Board b) Total number of members 3,00 3,00 3,00 3,00 c) Number of compensated members 3,00 3,00 3,00 3,00 d) Regarding each grant of Stock Options: LTI 2017 LTI 2016 LTI 2015 LTI 2014 i. Grant Date 2/28/18 2/24/17 2/29/16 2/27/15 ii. Number of options granted 169.982 iii. Timing for options to become exercisable 3/1/21 2/25/20 3/1/19 2/27/18 iv. Maximum term for exercising options N/A N/A N/A N/A v. Restriction period for transfer of shares N/A N/A N/A N/A vi. Weighted average price in each of the following stock groups:

· outstanding at the beginning of the fiscal year R$ 17,90 R$ 15,50 R$ 21,50 R$ 17,94

· lost during the fiscal year R$ - R$ 15,50 R$ 21,50 R$ -

· exercised during the fiscal year R$ 17,94

· expired during the fiscal year N/A N/A N/A N/A

13.6. Information on outstanding options awarded to the Board of Directors and Statutory Officers as at the end of the last fiscal year: The Company’s share-based compensation plan does not provide for options. See item 13.16

13.7. Concerning exercised options and shares awarded in connection with the Board of Directors’ and Statutory Officers’ share-based compensation in the past three fiscal years, prepare a table containing the following: The Company’s share-based compensation plan does not provide for options. See item 13.16

13.8. Information required for understanding the data provided in items 13.5 to 13.7 (including share and option pricing method): The price of a Treasury Unit or purchase by a beneficiary under the Company’s plan derives from the average B3 S.A. – Brasil, Bolsa, Balcão trading prices of Klabin Unit Certificates of Deposit (KLBN11) in the sixty (6) trading sessions preceding the eve of the purchase, or the market value of such a unit on the eve of the purchase, whichever is lower.

13.9. Shares and other convertible securities of the Company, its direct or indirect controlling shareholders, of controlled entities or entities under shared control, directly or indirectly held, in Brazil or abroad, by members of the Board of Directors, by Statutory Officers, or by members of the Fiscal Council, categorized by corporate body:

The table below shows the total number of securities issued by the Company as described in the consolidated CVM Form 358 of December 31, 2020:

Quantity

Name Common Preferred Nominative Nominative ADRs (thousand) (thousand) (thousand)

Controlling 1,245,701 374,958 29,363 shareholders

Board of Directors 45,226 176,882 -

Statutory Officers 1,380 5,616 -

Fiscal Council 294 1,176 -

None of the Company’s managers holds a stake in entities controlled by the Company or over which the Company has shared control. Their participation in these entities is purely indirect, through shares they may hold of the Company, which by its turn holds a stake in these entities.

13.10. Information on pension plans in force awarded to members of the Board of Directors and Statutory Officers:

(amounts in R$ thousands) Statutory Officers

No. of members 4

No. of compensated members 4

Plan name PACK – Plano de Aposentadoria Complementar Klabin Number of managers eligible for retirement 2

Early retirement conditions Being 55 years of age Current accumulated amount of contributions to the pension plan as of the end of the last fiscal year, minus the portion R$ 8,512,201.30 associated with contributions made directly by managers

Total accumulated amount of the contributions made in the latest fiscal year, minus the portion associated with R$ 952,780.96 contributions made directly by managers

Early redemption and criteria None

PACK is not awarded to members of the Board of Directors.

13.11. Maximum, minimum and average compensation of the Board of Directors, Statutory Officers and Fiscal Council in the past 3 fiscal years:

Statutory Officers Board of Directors Fiscal Council 12/31/2020 12/31/2019 12/31/2018 12/31/2020 12/31/2019 12/31/2018 12/31/2020 12/31/2019 12/31/2018 No. Of members 4 3,42 4 13,58 13,67 13 5 5 5 No. of compensated 4 3,42 4 13,58 13,67 13 5 5 5 members Highest R$15,690,155. 10,603,660.45 9,552,569.06 R$1,281,913.47 1,311,753.08 1,349,762.19 R$472,750.89 466,517.95 436,425.00 compensation 55 Lowest R$3,777,079.9 4,841,564.32 114,394.87 R$1,166,755.91 1,076,227.81 675,916.48 R$398,626.80 398,626.80 398,626.80 compensation 8 Average R$8,594,218.8 6,563,632.44 6,322,301.91 R$1,196,438.01 1,212,072.08 1,235,395.48 R$413,451.62 418,607.02 417,963.28 compensation 1

Notes:

Statutory Officers 12/31/2020 The highest compensated member held the position in the Company for 12 months. 12/31/2019 The highest compensated member held the position in the Company for 12 months. 12/31/2018 The highest compensated member held the position in the Company for 12 months.

Board of Directors 12/31/2020 The highest compensated member held the position in the Company for 12 months. 12/31/2019 The highest compensated member held the position in the Company for 12 months. 12/31/2018 The highest compensated member held the position in the Company for 12 months.

Fiscal Council 12/31/2020 The highest compensated member held the position in the Company for 12 months. 12/31/2019 The highest compensated member held the position in the Company for 12 months. 12/31/2018 The highest compensated member held the position in the Company for 12 months.

13.12. Contract clauses, insurance policies or other instruments structuring compensation or indemnity mechanisms for managers in the event of removal or retirement (including financial consequences thereof for the Company):

The Company maintains liability (D&O) insurance policies covering members of the Executive Board, Fiscal Council and Board of Directors. The purpose thereof is to provide indemnity to managers of the Company and its Controlled Entities from and against any and all losses incurred thereby as a result of actions or non-malicious omission taking place while performing, pursuant to the respective policy.

The maximum indemnity under the existing policy is R$ 120 million. A contact clause providing for indemnity for termination without cause before the end of the term of office only covers the CEO.

13.13. Percentage of each corporate body’s total compensation recognized by the Company in connection with members of the board of directors, Statutory Officers, or members of the Fiscal Council that are related parties as concerns the directly or indirectly controlling shareholders, according to the accounting standards governing the matter:

Board of Directors Statutory Officers Fiscal Council

Year 2018 2019 2020 2018 2019 2020 2018 2019 2020

Percentage 65.03% 51.85% 50.39% 0% 0% 0% 0% 0% 0%

13.14. Amounts recognized by the Company as compensation of members of the Board of Directors, Statutory Officers, or members of the Fiscal Council, grouped by corporate body, for any reason other than the position held, such as, for example, commissions or consulting or advisory services rendered:

The Company recognizes no amounts in the past three fiscal years paid as compensation to members of the Board of Directors, Statutory Officers, or members of the Fiscal Council other than for the positions held.

13.15. Amounts recognized by directly or indirectly controlling shareholders, entities under shared control and controlled entities of the Company as compensation for members of the Board of Directors, Statutory Officers, or members of the Fiscal Council of the Company, grouped by corporate body, specifying the reason for the allocation of such amounts to such individuals:

Fiscal Year 2020 - Remuneration received indirectly by a member of the Fiscal Council, through a company in which he has a participation. The amounts were received in exchange for rendering administrative services, under the terms of a contract to render services signed with a company under common control with Klabin.

Board of Statutory Fiscal Total Directors Executive Board Council Direct and indirect controllers 0 0 0 0 Subsidiaries of the Issuer 0 0 0 0 Companies under common control 0 0 R$610.850,78 R$610.850,78

Fiscal Year 2019 - Remuneration received indirectly by a member of the Fiscal Council, through a company in which he has a participation. The amounts were received in exchange for rendering administrative services, under the terms of a contract to render services signed with a company under common control with Klabin.

Board of Statutory Fiscal Total Directors Executive Board Council Direct and indirect controllers 0 0 0 0 Subsidiaries of the Issuer 0 0 0 0 Companies under common control 0 0 R$598.672,00 R$598.672,00

Fiscal Year 2018 – Remuneration received indirectly by a member of the Fiscal Council, through a company in which he has a participation. The amounts were received in exchange for rendering administrative services, under the terms of a contract to render services signed with a company under common control with Klabin.

Board of Statutory Fiscal Total Directors Executive Board Council Direct and indirect controllers 0 0 0 0 Subsidiaries of the Issuer 0 0 0 0 Companies under common control 0 0 R$503.560,00 R$503.560,00

13.16. Other material information:

Units Awarding Plan

Due to the specifications of the Company’s Units Awarding Plan, some items of the present section, such as items 13.5 and 13.6, do not apply. However, the Company provides below, in addition to the information provided in items 13.4, 13.7 and 13.8, additional information on the existing plans for the purposes of clearer understanding.

An Extraordinary General Meeting held on July 10, 2012, approved the Units Awarding Plan (Plan) as a benefit in favor of members of the Executive Board and strategic employees of the Company, with the exception of controlling shareholders, as duly authorized by CVM through OFICIO/CVM/SEP/GEA-2/No 221/2012.

Under the plan at hand, the Company provided that Officers may use up to 25% of their variable compensation to purchase treasury units, under which the Company shall award usufruct of a like number of units to the acquirer for a period of three years; full title and ownership shall convey to the beneficiaries after three years, as long as they remain compliant with the Plan’s clauses (see foregoing item 13.4). The Plan in force provides for no stock options. Usufruct affords beneficiaries rights to dividends and ISE (interest on shareholders’ equity) distributed for as long as the benefit remains valid.

The price of treasury Units for purchase by beneficiaries of the Plan shall be (i) the average trading price of the Company’s units in the previous 60 trading sessions; or (ii) the Unit’s trading price on the eve of the acquisition, whichever is lower. The value of the units under usufruct corresponds to the price of the units trading on the São Paulo Stock Exchange on the day of the operation, which determines the operation’s fair value.

Units awarded and the expense in proportion with the awarding period, as recognized in the company’s results, accumulates in the equity capital under the “Equity Valuation Adjustments” group of entries for the duration of the award, whether it ceases due to the running of the 3-year vesting period or through any other Plan provision.

There shall be no issuance of new shares and/or units to comply the Company’s Units Awarding Plan because, since only units held in Treasury will be used to comply with the plan.

Compensation of Management and members of the Fiscal Council

The Overall Management and Fiscal Council Compensation in fiscal year 2021, pursuant to items 13.2 and 13.3 hereof, represent the proposal to be submitted to the shareholders convened at the Annual General Meeting to be held on March 24, 2021.

APPENDIX VI

PROPOSED AMENDMENT TO THE BYLAWS ARTICLE 11, ITEM II, OF INSTRUCTION 481

Management proposes to the Company’s shareholders approval, as described below, of amendment to the letter of Articles 1, 2, 3, 5, 16, 20, 22, 26, 28, 32, 33, 37, 41 and 42 of the Company’s Bylaws. In addition, the present proposal also includes renumbering certain items of the Bylaws and the correction of certain cross references, with no material effect, and simply for the purposes of adjustment to the newly proposed wording.

Cause, justification, and legal and economic Current wording Proposed wording effects of the proposed amendments Art. 1. KLABIN S.A. is a corporation (“Company”) Art. 1. KLABIN S.A. is a corporation (“Company”) Amendment proposed to update the name of B3 governed by these corporate bylaws governed by these corporate bylaws S.A. – Brasil, Bolsa, Balcão (“Corporate Bylaws”) and by the applicable legal (“Corporate Bylaws”) and by the applicable legal provisions. provisions.

1. The Company, its shareholders, Members of 1. The Company, its shareholders, Members of Management, and members of the Fiscal Council, shall Management, and members of the Fiscal Council, shall be be subject to the provisions of the Level 2 Corporate subject to the provisions of the Level 2 Corporate Governance Listing of BM&FBOVESPA (“Level 2 Governance Listing of B3 S.A. – Brasil, Bolsa, Balcão Regulations”), given the admission of the Company to BM&FBOVESPA (“B3” and “Level 2 Regulations”), the special listing segment denominated Level 2 given the admission of the Company to the special listing Corporate Governance of BM&FBOVESPA S.A. – segment denominated Level 2 Corporate Governance of Bolsa de Valores, Mercadorias e Futuros B3 BM&FBOVESPA S.A. – Bolsa de Valores, (“BM&FBOVESPA”). Mercadorias e Futuros (“BM&FBOVESPA”).

Art. 2. The registered offices and jurisdiction of the Art. 2. The registered offices and jurisdiction of the Amendment proposed to add agility and Company are established in the city and state of São Company are established in the city and state of São efficiency to the operational management of Paulo, and at the decision of the Board of Directors, the Paulo, and at the decision of the Board of Directors branches, offices and other relevant Company is permitted to open or close branches, Executive Board, the Company is permitted to open or establishments of the Company in Brazil and offices, and any other establishments at its convenience close branches, offices, and any other establishments at abroad by giving the Executive Board, rather in Brazil or abroad. its convenience in Brazil or abroad. than the Board of Directors, jurisdiction to decide on the creation and termination thereof. Art. 3. The Company has as its purpose: Art. 3. The Company has as its purpose: Adjustment to the corporate purpose, as Klabin a) Industrial and commercial operationalization, a) Industrial and commercial operationalization, does not carry out animal husbandry and the including the importation and exportation of cellulose, including the importation and exportation of cellulose, activity is not compatible with its purpose. wood pulp, paper, paperboard and similar, their wood pulp, paper, paperboard and similar, their This adjustment does not change the Company's byproducts and derivatives, packaging for all purposes, byproducts and derivatives, packaging for all purposes, current business segment and, therefore, if wood products in all their forms, forestry, and farming wood products in all their forms, forestry, and farming approved, it will not give rise to the right of and cattle ranching products, including seeds, and cattle ranching products, including seeds, machinery, withdrawal for dissenting shareholders. machinery, and raw materials; and raw materials; b) Forestry activities, agriculture, and ranching, b) Forestry activities and, agriculture, and ranching, including afforestation and reforestation in any of the including afforestation and reforestation in any of the forms incentivized by legal provision, encompassing forms incentivized by legal provision, encompassing the the raising of third party funding; raising of third party funding; c) Mining, including research and mining of minerals, c) Mining, including research and mining of minerals, their industrialization and trading; their industrialization and trading; d) Technology and services related to the corporate d) Technology and services related to the corporate purpose; purpose; e) Transportation, fuel and lubricant stations, e) Transportation, fuel and lubricant stations, generation, generation, and commercialization of energy as well as and commercialization of energy as well as other

other secondary activities, which its characteristics as an secondary activities, which its characteristics as an integrated industry render necessary; and integrated industry render necessary; and f) Participation in other corporations. f) Participation in other corporations. Art. 5. The capital stock, fully subscribed and paid in, is Art. 5. The capital stock, fully subscribed and paid in, is The proposed amendment increases the R$ 4,475,624.836.00 (four billion, four hundred and R$ 4,475,624.836.00 (four billion, four hundred and Company’s authorized capital limit. seventy-five million, six hundred and twenty-four seventy-five million, six hundred and twenty-four thousand, eight hundred and thirty-six reais), divided thousand, eight hundred and thirty-six reais), divided into The amendment aims to strengthen the into 5,617,892,756 (five billion, six hundred and 5,617,892,756 (five billion, six hundred and seventeen Company’s ability to capitalize as needed by seventeen million, eight hundred and ninety-two million, eight hundred and ninety-two thousand, seven issuing new shares in a nimble manner by thousand, seven hundred and fifty- six) all registered hundred and fifty- six) all registered shares and with no resolution of the Board of Directors. shares and with no par value, being 2,081,728,595 (two par value, being 2,081,728,595 (two billion, eighty- one billion, eighty- one million, seven hundred and twenty- million, seven hundred and twenty-eight thousand, five eight thousand, five hundred and ninety-five) common hundred and ninety-five) common shares and shares and 3,536,164,161 (three billion, five hundred 3,536,164,161 (three billion, five hundred and thirty-six and thirty-six million, one hundred and sixty-four million, one hundred and sixty-four thousand, one thousand, one hundred and sixty-one) preferred shares. hundred and sixty-one) preferred shares.

[...] [...]

8. The capital stock of the Company may be increased 8. The capital stock of the Company may be increased up up to the limit of 5,600,000,000 (five billion, six to the limit of 6,400,000,000 (six billion and four hundred hundred million) common and/or preferred shares, million) 5,600,000,000 (five billion, six hundred million) regardless of statutory amendment, by decision of the common and/or preferred shares, regardless of statutory Board of Directors, which shall determine the issue amendment, by decision of the Board of Directors, which price and other conditions for the respective shall determine the issue price and other conditions for

subscription and paying in of the shares to be issued the respective subscription and paying in of the shares to (“Authorized Capital”). be issued (“Authorized Capital”).

Art. 16. The management organs of the Company shall Art. 16. The management organs of the Company shall The purpose is to explicitly allow electronic be the Board of Directors and Executive Board. be the Board of Directors and Executive Board. attendance at meetings, using technology to facilitate management of the meetings of the [...] [...] Board of Directors and of the Executive Board.

§ 5 – The members of the Board of Directors and Executive Board may attend the respective meetings via conference call, videoconferencing, or any other electronic means of communication that enables member identification and simultaneous communication with all other persons in attendance at the meeting. In this case, the members of the Board of Directors and Executive Board shall be deemed in attendance and shall sign the respective minutes of the relevant corporate body. Art. 20. It is incumbent on the Board of Directors to: Art. 20. It is incumbent on the Board of Directors to: The purpose of the amendment is to add to the operational efficiency of the Company’s [...] [...] subsidiaries, limiting the jurisdiction of the Board of Directors to approval of matters i) Authorizing acts that surpass ordinary administration i) Authorizing acts that surpass ordinary administration involving the restructuring of such entities. acts such as: acts such as: Furthermore, the propose amendment also [...] [...] reflects the proposed amendment to Art. 2 (as

previously indicated), that is: to shift from the II - constitution, merger, incorporation, spin-off, II - constitution, merger, incorporation, spin-off, Board of Directors to the Executive Board the transformation, and extinguishment of subsidiary transformation, and extinguishment of subsidiary jurisdiction to resolve on the creation and corporations, amendment of articles of association and corporations, amendment of articles of association and termination of branches, offices and other corporate bylaws; corporate bylaws; establishments relevant to the Company in Brazil and abroad. V - opening and closing of branches and other V - opening and closing of branches and other establishments; establishments;

Art. 22. Elected by the Board of Directors, the Art. 22. Elected by the Board of Directors, the Executive The proposed amendment aims to establish a new Executive Board shall be composed of up to 10 (ten) Board shall be composed of 03 (three) up to 10 (ten) range for the number of members that may be members, resident in Brazil, shareholders or not, with members, resident in Brazil, shareholders or not, with part of the Company’s Executive Board. term of office of 1 (one) year, reelection being term of office of 1 (one) year, reelection being permitted. permitted. The Executive Board shall be made up of one The Executive Board shall be made up of one Chief In this sense, Management understands that the Chief Executive Officer with remaining officers to have Executive Officer with remaining officers to have duties range between 3 (three) and 10 (ten) members duties and responsibilities established by the Board of and responsibilities established by the Board of Directors. lends the Board of Directors added flexibility to Directors. determine the structure of the Company’s 1. The Board of Directors may refrain from electing up Executive Board in the light of each moment’s 1. The Board of Directors may refrain from electing up to 4 (four) officers and in this case, shall determine a new particular requirements and circumstances, to 4 (four) officers and in this case, shall determine a distribution of functions. without harming its proper functioning. new distribution of functions.

Art. 26. Any 2 (two) officers together, 1 (one) officer Art. 26. Any 2 (two) officers together, 1 (one) officer The proposed change aims to add agility and together with 1 (one) proxy with sufficient powers, or 2 together with 1 (one) proxy with sufficient powers, or 2 efficiency to the process of granting powers-of-

(two) proxies together with sufficient powers, shall have (two) proxies together with sufficient powers, shall have attorney, s that any two members of the Executive the powers to: the powers to: Board, collectively, may do it without requiring one of them to be the CEO (or, in the absence of (...) (...) incapacity thereof, another Officer as appointed by the Board of Directors). 3. The Company may appoint proxies to represent it 3. The Company may appoint proxies to represent it individually or jointly with an officer or another proxy individually or jointly with an officer or another proxy as as determined in the power of attorney. Proxies shall determined in the power of attorney. Proxies shall always always be appointed for specific purposes and for a be appointed for specific purposes and for a fixed duration fixed duration unless in the case of powers of attorney unless in the case of powers of attorney of an ad judicia of an ad judicia nature or for defending corporate nature or for defending corporate interests in interests in administrative proceedings. The administrative proceedings. The appointment shall be appointment shall be made by 2 (two) Officers jointly, made by 2 (two) Officers jointly, one of whom being the one of whom being the Chief Executive Officer and, in Chief Executive Officer and, in the event of his the event of his impediment and absences, another impediment and absences, another Officer as appointed Officer as appointed by the Board of Directors. by the Board of Directors.

Art. 28. The Board of Directors of the Company shall Art. 28. The Board of Directors of the Company shall The amendment aims to reflect Klabin’s current have the support of the Advisory Board made up of up have the support of the Advisory Board made up of up to governance framework, as the Advisory Board to 5 (five) members. 5 (five) members. has not convened and the Company has created new committees to advise the Board of Directors. 1. The members of the Advisory Board and its 1. The members of the Advisory Board and its Chairman, Chairman, shall be elected by the Board of Directors for shall be elected by the Board of Directors for a 1 (one) a 1 (one) year term of office, reelection being limited to year term of office, reelection being limited to a a maximum of 5 (five) terms of office. maximum of 5 (five) terms of office.

2. The Advisory Board shall have the following duties: 2. The Advisory Board shall have the following duties: a) to opine on matters submitted by the Board of a) to opine on matters submitted by the Board of Directors; and Directors; and b) to express an opinion on the Company’s annual b) to express an opinion on the Company’s annual report. report. 3. The Advisory Board shall meet quarterly upon 3. The Advisory Board shall meet quarterly upon convening by its Chairman or the Chairman of the Board convening by its Chairman or the Chairman of the of Directors, through notices sent no less than 8 (eight) Board of Directors, through notices sent no less than 8 days in advance. (eight) days in advance. 4. The recommendations and opinions of the Advisory Board shall be approved by a majority with the attendance of at least half of its members.

4. The recommendations and opinions of the Advisory Board shall be approved by a majority with the 5. The remuneration of the Advisory Board shall be attendance of at least half of its members. established by the Board of Directors in an aggregate annual amount, which shall also decide on its division. 5. The remuneration of the Advisory Board shall be established by the Board of Directors in an aggregate annual amount, which shall also decide on its division.

Art. 32. The Sale of Control of the Company, whether Art. 31. The Sale of Control of the Company, whether Amendment proposed to update the corporate through a single operation or successive operations, through a single operation or successive operations, shall name of B3 S.A. – Brasil, Bolsa, Balcão. shall be contracted under the precedent or resolutive be contracted under the precedent or resolutive condition condition whereby the Purchaser undertakes to make a whereby the Purchaser undertakes to make a public public offering to purchase the shares of the other offering to purchase the shares of the other shareholders shareholders of the Company, pursuant to the conditions of the Company, pursuant to the conditions and timeframe and timeframe set forth under the prevailing legislation set forth under the prevailing legislation and in the Level and in the Level 2 Regulations, thus ensuring treatment 2 Regulations, thus ensuring treatment equal to that equal to that extended to the Selling Controlling extended to the Selling Controlling Shareholder. Shareholder. Sole Paragraph – The public offering, the subject of this Sole Paragraph – The public offering, the subject of this Art., shall also be required: (i) in the case of assignment Art., shall also be required: (i) in the case of assignment for valuable consideration of rights to subscribe shares for valuable consideration of rights to subscribe shares and other securities or rights related to securities and other securities or rights related to securities convertible into shares which may result in the Sale of the convertible into shares which may result in the Sale of Control of the Company; or (ii) in the case of sale of the Control of the Company; or (ii) in the case of sale of control of a corporation which holds the Power of Control

control of a corporation which holds the Power of of the Company, where the Selling Controlling Control of the Company, where the Selling Controlling Shareholder shall be required to declare to B3 Shareholder shall be required to declare to BM&FBOVESPA the amount attributed to the Company BM&FBOVESPA the amount attributed to the for this sale and attach documentation substantiating this Company for this sale and attach documentation amount. substantiating this amount.

Art. 33. The Purchaser acquiring the Power of Control, Art. 32. The Purchaser acquiring the Power of Control, Amendment proposed to update the corporate the result of a private share purchase agreement the result of a private share purchase agreement executed name of B3 S.A. – Brasil, Bolsa, Balcão. executed with the Controlling Shareholder, involving with the Controlling Shareholder, involving any number any number of shares, shall be required to: (i) execute of shares, shall be required to: (i) execute the public the public offering referred to under Art. 32 above; (ii) offering referred to under Art. 32 above; (ii) pursuant to pursuant to the conditions set forth below, pay the the conditions set forth below, pay the amount amount corresponding to the difference between the corresponding to the difference between the price of the price of the public offering and the amount paid per public offering and the amount paid per share acquired on share acquired on the stock exchange in 6 (six) months the stock exchange in 6 (six) months prior to the date of prior to the date of acquisition of the Power of Control, acquisition of the Power of Control, duly restated until the duly restated until the date of payment. The said amount date of payment. The said amount shall be distributed shall be distributed among all the individuals who have among all the individuals who have sold shares of the sold shares of the Company on the trading days that the Company on the trading days that the Purchaser made Purchaser made acquisitions, proportional to the net acquisitions, proportional to the net daily selling balance daily selling balance of each one, being incumbent on of each one, being incumbent on B3 BM&FBOVESPA to BM&FBOVESPA to operationalize the distribution operationalize the distribution pursuant to the terms of its pursuant to the terms of its regulations; and (iii) accept regulations; and (iii) accept the commitment in Art. 41 of the commitment in Art. 41 of these Corporate Bylaws. these Corporate Bylaws.

Art. 37. Should the delisting of the Company from Level Art. 36. Should the delisting of the Company from Level Amendment proposed to update the corporate 2 Corporate Governance be approved so that the 2 Corporate Governance be approved so that the name of B3 S.A. – Brasil, Bolsa, Balcão. securities issued by it are registered for trading outside securities issued by it are registered for trading outside Level 2 Corporate Governance, or by virtue of a Level 2 Corporate Governance, or by virtue of a corporate corporate reorganization, in which the securities of the reorganization, in which the securities of the corporation corporation resulting from this reorganization do not resulting from this reorganization do not qualify for qualify for trading in the Level 2 Corporate Governance, trading in the Level 2 Corporate Governance, within 120 within 120 (one hundred and twenty) days as from the (one hundred and twenty) days as from the date of the date of the general meeting which approved the said general meeting which approved the said operation, the operation, the Controlling Shareholder shall make a Controlling Shareholder shall make a public offering to public offering to acquire the shares pertaining to the acquire the shares pertaining to the remaining remaining shareholders of the Company, for at least the shareholders of the Company, for at least the respective respective Economic Value, to be calculated in an Economic Value, to be calculated in an appraisal report appraisal report prepared pursuant to paragraphs 1 and prepared pursuant to paragraphs 1 and 2 of Art. 36 in 2 of Art. 36 in accordance with the applicable laws and accordance with the applicable laws and regulations. regulations.

Sole Paragraph. The Controlling Shareholder shall be Sole Paragraph. The Controlling Shareholder shall be released from the requirement to make a public offering released from the requirement to make a public offering of shares in accordance with the caption sentence to this of shares in accordance with the caption sentence to this Art. should the Company delist from Level 2 Corporate Art. should the Company delist from Level 2 Corporate Governance as a result of an agreement to participate in Governance as a result of an agreement to participate in the special segment of B3 BM&FBOVESPA known as

the special segment of BM&FBOVESPA known as the the Novo Mercado (“Novo Mercado”) or if the company Novo Mercado (“Novo Mercado”) or if the company resulting from a corporate reorganization obtains the resulting from a corporate reorganization obtains the authorization for trading securities in the Novo Mercado authorization for trading securities in the Novo Mercado within 120 (one hundred and twenty) days as from the within 120 (one hundred and twenty) days as from the date of the general meeting which approved the said date of the general meeting which approved the said operation. operation.

Art. 41. The Controlling Shareholders undertake on Art. 40. The Controlling Shareholders undertake on their Amendment proposed to update the corporate their own behalf and on behalf of their successors, to own behalf and on behalf of their successors, to exercise name of B3 S.A. – Brasil, Bolsa, Balcão. exercise their voting rights so that in the event that their voting rights so that in the event that migration of migration of the Company to the special listing segment the Company to the special listing segment of B3 of BM&FBOVESPA, known as the Novo Mercado, is BM&FBOVESPA known as the Novo Mercado, is approved, the conversion of the preferred shares issued approved, the conversion of the preferred shares issued by by the Company into common shares be mandatorily the Company into common shares be mandatorily undertaken in the proportion of 1 (one) preferred share undertaken in the proportion of 1 (one) preferred share to to each new common share, without payment or each new common share, without payment or attributing attributing any premium, in anyway, to any any premium, in anyway, to any shareholders, shareholders, irrespective of type, class or ownership of irrespective of type, class or ownership of their shares. their shares. Furthermore, the approval of any proposal Furthermore, the approval of any proposal or operation, or operation, the effect of which is, by any means, to the effect of which is, by any means, to realize the realize the conversion of preferred shares to common conversion of preferred shares to common shares or the shares or the migration to the Novo Mercado, without migration to the Novo Mercado, without respecting this respecting this relationship of parity between all the relationship of parity between all the shares issued by the shares issued by the Company, shall not be permitted. Company, shall not be permitted.

Art. 42. The term of office of members of the Board of Art. 42. The term of office of members of the Board of Deletion of an Article that no longer applies as it Directors of the Company, which is still ongoing on the Directors of the Company, which is still ongoing on the referred exclusively to a transitional period of date which approves these Corporate Bylaws, shall date which approves these Corporate Bylaws, shall 2014. terminate on the date of the ordinary general meeting terminate on the date of the ordinary general meeting which approves the financial statements for fiscal year which approves the financial statements for fiscal year 2014, the exception being the election of directors 2014, the exception being the election of directors representing the minority shareholders which is representing the minority shareholders which is required required and held on the occasion of the first ordinary and held on the occasion of the first ordinary general general meeting after the approval of these Corporate meeting after the approval of these Corporate Bylaws. Bylaws.

APPENDIX VII

AMENDED AND CONSOLIDATED BYLAWS ARTICLE 11, ITEM I, OF INSTRUCTION 481

KLABIN S.A.

CHAPTER I Corporate Denomination, Purpose, Registered Offices and Duration Art. 1. KLABIN S.A. is a corporation (“Company”) governed by these corporate bylaws

(“Corporate Bylaws”) and by the applicable legal provisions.

1. The Company, its shareholders, Members of Management, and members of the Fiscal Council, shall be subject to the provisions of the Level 2 Corporate Governance Listing Regulations of B3 S.A. Bolsa, Brasil, Balcão (“B3” and “Level 2 Regulations”), given the admission of the Company to the special listing segment denominated Level 2 Corporate Governance of B3.

2. The provisions set forth in Level 2 Regulations shall take precedence over statutory provisions in case of harm to the rights of the recipients of public offerings set forth in these Corporate Bylaws.

3. The terms set forth in capital letters in these Corporate Bylaws, when not defined herein, shall bear in their plural or singular, the meanings they are assigned in Section II, Item 2.1, of Level 2 Regulations.

Art. 2. The registered offices and jurisdiction of the Company are established in the city and state of São Paulo, and at the decision of the Executive Board, the Company is permitted to open or close branches, offices, and any other establishments at its convenience in Brazil or abroad.

Art. 3. The Company has as its purpose: a) Industrial and commercial operationalization, including the importation and exportation of cellulose, wood pulp, paper, paperboard and similar, their byproducts and derivatives, packaging for all purposes, wood products in all their forms, forestry, and farming and cattle ranching products, including seeds, machinery, and raw materials; b) Forestry activities and agriculture, including afforestation and reforestation in any of the forms incentivized by legal provision, encompassing the raising of third party funding; c) Mining, including research and mining of minerals, their industrialization and trading; d) Technology and services related to the corporate purpose; e) Transportation, fuel and lubricant stations, generation, and commercialization of energy as well as other secondary activities, which its characteristics as an integrated industry render necessary; and

f) Participation in other corporations. Art. 4. The duration of the Company is for an indeterminate period.

CHAPTER II

Capital Stock, Shares and Units

Art. 5. The capital stock, fully subscribed and paid in, is R$ 4,475,624.836.00 (four billion, four hundred and seventy-five million, six hundred and twenty-four thousand, eight hundred and thirty-six Reais), divided into 5,617,892,756 (five billion, six hundred and seventeen million, eight hundred and ninety-two thousand, seven hundred and fifty- six) all registered shares and with no par value, being 2,081,728,595 (two billion, eighty- one million, seven hundred and twenty-eight thousand, five hundred and ninety-five) common shares and 3,536,164,161 (three billion, five hundred and thirty-six million, one hundred and sixty-four thousand, one hundred and sixty-one) preferred shares.

1. The capital may be increased regardless of the proportion between the existing types and classes of shares, contingent on the number of preferred shares without voting rights not exceeding 2/3 (two thirds) of the total shares issued.

2. The Company may issue shares and debentures convertible into shares without preemptive rights to existing shareholders, pursuant to the restrictions set forth in law.

3. All the shares of the Company shall be book-entry held in a deposit account, in the name of their owners, at a financial, institution authorized by the Securities and Exchange Commission (Comissão de Valores Mobiliários), with which the Company maintains a current booking agreement, without the issue of certificates, always pursuant to the provisions in articles 34 and 35 of Law 6.404/76 and other applicable legal provisions.

4. The preferred shares shall be entitled to: (a) priority in reimbursement in the event of liquidation of the Company; (b) be included in a public offering for purchase of shares in the light of the Sale of the Company’s Control for the same price and under the same conditions offered to the Selling Controlling Shareholder; and (c) restricted voting rights in case of events set forth in Art. 14 of these Corporate Bylaws.

5. The common shares shall entitle voting rights in the decisions of the General Meetings, according to the legal restrictions.

6. The holders of shares of the same class are assured of equality of rights.

7. The Board of Directors may authorize the acquisition of shares of the Company to be held as treasury stock for subsequent sale or cancelation, pursuant to the applicable provisions.

8. The capital stock of the Company may be increased up to the limit of 6,400,000,000 (six billion and four hundred million) common and/or preferred shares, regardless of statutory amendment, by decision of the Board of Directors, which shall determine the issue price and other conditions for the respective subscription and paying in of the shares to be issued (“Authorized Capital”).

9. The Board of Directors of the Company may determine the issue of subscription warrants or debentures convertible into shares, be they common, preferred, or common and preferred shares for forming share deposit certificates within the limits of the Authorized Capital.

10. The shares issued may be subscribed and paid in in cash or through the transfer of properties or credits, pursuant to the legal provisions.

11. The Company may not issue Founders’ Shares.

Art. 6. The shareholders may convert common into preferred shares and preferred into common shares, exclusively for the formation of share deposit certificates (“Units”), at the ratio of one common share to one preferred share and vice-versa, contingent on being fully paid in, pursuant to the limit set forth in Art. 5, 1 of these Corporate Bylaws, and the chronological order of the requests.

Art. 7. The requests for conversion shall be submitted by the shareholders, according to the procedures and timeframes established by the Board of Directors. Requests for conversion, execution of which results in the violation of the legal relation between common and preferred shares shall be subject to prorating or sortition to be structured by the Board of Directors.

Art. 8. The Company may engage a financial institution to issue Units.

1. The issue of the Units, respecting the legal limits, shall be approved by the Board of Directors, which shall establish the timeframe and conditions for their issue, always according equal treatment to the holders of shares of the same class or type.

2. The Units shall be in book-entry form. Each Unit shall represent 1 (one) common share and 4 (four) preferred shares issued by the Company, in relation to the shares held in deposit, and they shall only be issued at the request of the shareholders pursuant to the rules to be established by the Board of Directors in accordance with these Corporate Bylaws.

3. Upon the issue of the Units, the shares held in deposit shall be recorded in a deposit account opened in the name of the holder of the shares with the financial depositary institution.

Art. 9. While bound under the share deposit certificate program pursuant to this Art., the shares issued by the Company used in the formation of Units, shall be transferred solely by means of the transfer of the Units.

1 – Except in cases pursuant to paragraphs 2 and 3 of this Art., the Unit holder shall be entitled at any time to request the issuing and bookkeeping financial institution, the cancellation of the Units and delivery of the respective shares held in deposit, pursuant to the rules to be set by the Board of Directors according to the provision established in these Corporate Bylaws.

2. The Board of Directors of the Company may, at any time, suspend for a specific period, the option of cancellation of Units as set forth in 1 of this Art., should there be the initiation of a public offering for a primary and/or secondary distribution of Units, in the domestic and/or

international market. In this case, the timeframe for suspension shall be no more than 30 (thirty) days.

3. The Units backed by shares and subject to liens, encumbrances or impediments may not be cancelled.

Art. 10. The Units shall entitle their holders to the same rights, advantages and restrictions as the shares issued by the Company which they represent.

1. The holder of the Units shall be entitled to take part in the General Meetings of the Company and in them, exercise all prerogatives under the shares represented by the Units, contingent on substantiation of their ownership.

2. The Unit holders may be represented at the General Meetings of the Company by a proxy duly constituted according to Art. 126 of the Corporate Law.

Art. 11. The following rules shall apply in relation to the Units in the event of stock split, reverse stock split, stock dividend or issue of new shares through the capitalization of profits or reserves:

(a) in the event of an increase in the number of shares issued by the Company, the financial issuing and bookkeeping institution shall register the deposit of the new shares and credit new Units in the account of the respective holders to reflect the new number of shares held by the holders of the Units, always maintaining the proportion of 1 (one) common share and 4 (four) preferred shares issued by the Company for each Unit, those shares insufficient to form Units being credited directly to the shareholders without the issue of Units; and

(b) in the event of a reduction in the number of shares issued by the Company, the financial issuing and bookkeeping institution shall debit the deposit accounts of the Units of the holders of grouped shares, automatically cancelling the Units in a sufficient number to reflect the new number of shares held by the Unit holders, always maintaining the proportion of 1 (one) common share and 4 (four) preferred shares issued by the Company for each Unit, the remaining shares that are insufficient to form Units being delivered directly to the shareholders, without the issue of Units.

Art. 12. The following rules shall be adopted in relation to the Units in the event of a capital increase through subscription of shares where preemptive rights have been granted to the Company’s shareholders: I – Should the capital increase be executed through the issue of common and preferred shares of the Company in sufficient number to form new Units, the holders of the Units may exercise the preemptive rights intrinsic to the shares represented by the Units, as follows: (a) if the shareholder subscribes new common and preferred shares issued by the Company, in the proportion of 1 (one) common share for every 4 (four) preferred shares issued by the Company, new Units corresponding to the shares subscribed by the shareholder shall be issued in their name, unless otherwise requested by the shareholders; and (b) the shareholder may subscribe common and preferred shares issued by the Company without the issue of Units, or only common or preferred shares issued by the Company, the shareholder in this case notifying their intention in the share subscription list.

II – Should common or preferred shares be issued only without the possibility of forming new Units, the holder of the Units shall be allowed to directly exercise the preemptive rights to which each one of the shares represented by the Units is entitled, and in this case, the issue of new Units may not be requested. Art. 13. Each common share entitles its holder to one vote in corporate decisions. 1. The resolutions of the General Meetings shall be taken on a majority vote, with the exceptions established in law and the provisions in Art. 36 of these Corporate Bylaws, blank votes not being computed. 2. The approval of the agreements between the Company and the Controlling Shareholders and/or companies in which they hold an interest, shall be taken in a General Meeting in which voting rights shall be extended to preferred shareholders. Art. 14 - Each preferred share entitles its holder to restricted voting rights exclusively in relation to the following matters: (a) transformation, incorporation, merger, or spin-off of the Company; (b) approval of agreements between the Company and the Controlling Shareholder, directly or through third parties, as well as other corporations in which the Controlling Shareholder has an interest, whenever they are approved in a General Meeting as a result of a legal or statutory provision; (c) appraisal of properties intended for use in the paying in of an increase in the Company’s capital; (d) choice of a specialized institution or company to determine the Economic Value of the Company, pursuant to Art. 36 of these Corporate Bylaws; (e) alteration revoking statutory provisions amending or changing any requirements pursuant to item 4.1 of Level 2 Regulations, conditional on this voting right prevailing while the Level 2 Corporate Governance Participation Agreement is in effect; and (f) amendment or revoking of the provision in Art. 41 of these Corporate Bylaws. CHAPTER III General Meeting

Art. 15. The General Meeting shall be held ordinarily during the first 4 (four) months following the end of the fiscal year and extraordinarily when corporate interests so demand. 1. Only the holders of shares, the names of which are enrolled in the corresponding register up to 3 (three) days prior to the holding of the Meeting, shall be permitted to take part in it. 2. Without limitation of the provision in the above paragraph, the shareholder, who attends the General Meeting at the time of opening with an identity document and proof of the respective shareholding interest issued by the bookkeeping institution, shall be permitted to participate in it and to vote should they be entitled to do so. 3. The General Meetings shall be presided by the Chairman of the Board of Directors and, in his absence, by a member of the Board of Directors selected by the Meeting. 4. The President of the Meeting shall choose from among the shareholders present, one or more secretaries.

CHAPTER IV

Management

Art. 16. The management organs of the Company shall be the Board of Directors and Executive Board.

1. The General Meeting shall establish the aggregate remuneration of the members of the Board of Directors and the Executive Board, being incumbent on the Board of Directors to distribute it among its members and those of the Executive Board.

2. The directors and officers shall be vested in their positions through the signature of the investiture instrument in the minutes register of the Board of Directors or of the Executive Board, as the case may be.

3. The investiture of the members of the Board of Directors and the Executive Board is contingent on the prior signature of the Declaration of Consent of the Members of Management pursuant to Level 2 Regulations, as well as adherence to the applicable legal requirements.

4. The term of office of the members of the Board of Directors and the Executive Board shall extend until the investiture of the newly elected members of management.

5 – The members of the Board of Directors and Executive Board may attend the respective meetings via conference call, videoconferencing, or any other electronic means of communication that enables member identification and simultaneous communication with all other persons in attendance at the meeting. In this case, the members of the Board of Directors and Executive Board shall be deemed in attendance and shall sign the respective minutes of the relevant corporate body.

Section I Board of Directors

Art. 17. The Board of Directors shall be composed of at least 13 (thirteen) and at the most 18 (eighteen) members, elected and removed by the General Meeting, pursuant to the legislation in effect, with a unified term of office of 1 (one) year, reelection being permitted. For each one of the directors elected, 1 (one) specific alternate shall also be elected.

1. The Chairman of the Board of Directors shall be elected by the Board of Directors itself from among the directors elected by the Controlling Shareholder; the choice of Chairman from among these directors shall respect the principle of rotation, except for reelection on a favorable vote of all the directors elected at the proposal of the Controlling Shareholder.

2. In the event of impediment, absences and vacancy, the Chairman of the Board of Directors shall be elected observing the same criteria as the preceding paragraph.

3. Pursuant to the provision in the caption sentence to this Art., the numbers of members who shall compose the Board of Directors for each term of office shall be established by each General Meeting, the agenda of which shall be the election of members of the Board of Directors, this matter to be submitted to the President of the Meeting.

4. Exceptionally and for the purposes of transition, when the Controlling Shareholder, holding more than 50% (fifty percent) of the voting capital of the Company, ceases to exist, the members of the Board of Directors may be elected, once only, for a unified term of office of up to 3 (three) years.

Art. 18. The meetings of the Board of Directors shall be held ordinarily once every 2 (two) months and, extraordinarily, whenever necessary, being convened by its Chairman or by 2 (two) of its members, 8 (eight) days prior to the meeting, by letter, fax, electronic mail, or telegram. Should the meeting not be held, a new call notice shall be sent at least 5 (five) days in advance.

1. The members of the Board of Directors may not be elected to the Executive Board of the Company and to the executive boards of its controlled companies, expect in cases of vacancies, which shall be specifically disclosed to the market and which shall have a term of 180 (one hundred and eighty) days in which to adopt measures necessary to fill the respective positions.

2. In the event of a vacancy on the Board of Directors, the respective alternate shall assume the position until the next General Meeting.

3. In cases of absences or impediments, the members of the Board of Directors shall be replaced by the respective alternate, or by another director - through the specific indication of the absent member themselves - who in addition to their own vote, shall express, in the resolutions, the vote of the absent director. Each director is permitted to represent 1 (one) absent director at the same meeting.

4. The decisions of the Board of Directors shall be adopted by an absolute majority of votes, in a meeting at which at least half plus one of its members are present, it being incumbent on the Chairman to make the casting vote in addition to his own.

5. The meetings of the Board of Directors shall be drafted in minutes to a dedicated book, signed by all attendees. The meetings not held for lack of quorum shall be registered in the book.

Art. 19. At least 20% (twenty percent) of the members of the Board of Directors shall be Independent Directors as established by Level 2 Regulations, and they shall be expressly declared as such in the minutes of the General Meeting that elects them. The directors elected pursuant to Art. 141, paragraphs 4 and 5 of the Corporate Law, shall also be deemed as Independent Directors.

Sole Paragraph. When, as a result of complying with the percentage in the foregoing paragraph, the number produces a fraction of directors, the number shall be rounded according to the provisions of Level 2 Regulations.

Art. 20. It is incumbent on the Board of Directors to: a) Establish the general business objectives of the Company and its controlled companies:

I - guiding the Executive Board in formulating the medium- and long term plans;

II - approving the plans for development and expansion and the investments necessary for their implementation;

III - approving the annual budgets for operations and investments; b) Electing and removing the officers of the Company, establishing their duties, observing the provisions of the Corporate Bylaws; c) Electing and removing the Advisory Directors of the Company; d) Permanently monitoring the development and performance of the Company; e) Inspecting the management of the officers, examining, at any time, the Company’s books, and documentation, requesting information on executed agreements or agreements in the process of execution, in addition to any other acts; f) Convening the General Meeting in the cases involving legal issues or when deemed appropriate; g) Opining on the Management reports, the financial statements, and the accounts of the Executive Board; h) Establishing the policy for the Company’s debt; i) Authorizing acts that surpass ordinary administration acts such as:

I. taking an equity stake, including an increase in stake in other corporations and the sale of these interests;

II. constitution, merger, incorporation, spin-off, transformation, and extinguishment of subsidiary corporations;

III. acquisition, sale, and encumbrance of real estate property;

IV. sale of property, plant, and equipment for an amount in excess of that set by the Board of Directors;

V. constitution of encumbrances and the granting of guarantees or sureties except when in guarantee of the acquisition of the asset itself;

VI. investments in expansion and improvement projects involving an amount higher than established by the Board of Directors;

VII. engagement of services for an amount in excess of that established by the Board of Directors;

VIII. commercial lease for an amount more than that established by the Board of Directors;

IX. engagement of long-term debt;

X. acquisition of shares issued by the Company for the purposes of cancellation or for holding as treasury stock and subsequent sale;

XI. sale, encumbrance, or assignment for use of patents and trademarks;

XII. establishment of pension plans for the Company’s employees;

XIII. issue of securities intended for public distribution in accordance with the legislation in effect; and

XIV. waiving rights or settlement in lawsuits for amounts higher than those established by the Board of Directors. j) Deciding on any proposals of the Executive Board for submission to the General Meeting; k) Selecting and removing independent auditors; l) Deciding, ad referendum of the General Meeting that approves the accounts for the fiscal year, on the payment of dividends, on the basis of intermediate or annual balance sheets, and on the payment of equity interest pursuant to the applicable legislation; m) Deciding on the division of the aggregate remuneration of the managers of the Company, set by the General Meeting, as well as on the participation of the members of management in the Company’s profits; n) Decide on the proposal of the Executive Board regarding acts of subsidiaries in cases where a decision of the Controlling Company is necessary; o) Decide on the issue of shares within the limit of the Authorized Capital; p) Decide on the issue of subscription warrants or debentures convertible into common shares, preferred shares or common and preferred shares intended for the formation of share deposit certificates, in any case within the limits of the Authorized Capital; q) Opine favorably or otherwise with regard to any public offering for the purchase of shares which has as its objective the issue of shares of the Company on the basis of a prior substantiated opinion disclosed in up to 15 (fifteen) days from the publication of the notice of a public offering for the purchase of shares to include at least: (i) the convenience and opportunity of the public offering for the acquisition of shares with respect to the interests of the full spectrum of shareholders and with respect to the liquidity of their securities; (ii) the consequences of the public offering for the purchase of shares for the Company’s interests; (iii) the strategic plans announced by the offeror with respect to the Company; and (iv) other aspects which the Board of Directors deem pertinent as well as the information required under the rules of the CVM; r) Draw up a list of three companies specialized in economic appraisals of companies for the preparation of an appraisal report of the shares of the Company, in the cases of a Public Offering for Acquisition of Shares (POA) for cancellation of company registration or delisting from Level 2 Corporate Governance; s) Establish the rules for the Company’s Units plan, including rules on the issue and cancellation of Units and approve the engagement of an institution providing shares’ and Units’ bookkeeping services; t) Authorize the issue, conversion, early redemption, and other conditions involving debentures not convertible into shares, commercial papers, bonds, and other securities intended for primary or secondary distribution in the capital markets;

u) Decide on the appraisal of properties to be used for paying in as capital stock of its subsidiaries and controlled companies except in the case of wholly-owned subsidiaries, where the responsibility for such shall be the General Meeting of the Company; v) Take a decision prior to the presentation by the Company of a request for bankruptcy or judicial or extrajudicial reorganization; x) Grant and establish the rules and conditions for the option to purchase or subscribe shares on behalf of the members of management or other employees of the Company or natural persons that provide services to the Company or to corporations under its control without preemptive rights to the shareholders within the limit of the Authorized Capital and pursuant to a plan previously approved by the General Meeting; y) Establish permanent and temporary committees and commissions as well as elect their members to provide support for the Board of Directors of the Company; z) Decide on any associations by the Company, as well as its participation in shareholder agreements; aa) In addition to the cases pursuant to 2 of Art. 26, authorize when deemed necessary, the Company’s representation by a single member of the Executive Board or by a proxy; bb) Establish the policies for the trading of the Company’s securities, disclosure of a material act or fact and transactions with related parties; cc) Establish policies and limits based on amounts, duration, or type of operation for financial derivative instruments of any kind, involving or not futures and options markets as well as procedures for the management and control of the Company’s exposure to the respective risks in such operations; dd) Decide on the suspension of the activities of the Company and its controlled companies; ee) At any time, request the examination of any matter regarding the businesses of the Company and its controlled companies, if not already covered in the foregoing items, and in this respect proffer a decision for mandatory execution by the Executive Board; ff) Decide on any matter which is submitted by the Executive Board and/or by the committees as well as convene members of the Executive Board and the committees for joint meetings, whenever deemed advisable; and gg) Establish the functions and responsibilities of the Company’s Advisory Board.

Art. 21 – At ordinary meetings of the Board of Directors, the Chief Executive Officer shall present a report on events and performance of the Company in the preceding months, including trial balances and monthly reports. When convened, the other officers of the company shall present a summarized report on the areas under their responsibility.

Section II Executive Board

Art. 22. Elected by the Board of Directors, the Executive Board shall be composed of 03 (three) to 10 (ten) members, resident in Brazil, shareholders or not, with term of office of 1 (one) year, reelection being permitted. The Executive Board shall be made up of one Chief Executive Officer with remaining officers to have duties and responsibilities established by the Board of Directors.

1. The officers shall replace one another in the event of temporary absence. In the event of a vacancy, the Board of Directors shall appoint a replacement to complete the remaining term of office.

2 . At the proposal of the Executive Board and where deemed necessary, the Board of Directors may appoint other officers, establishing their duties and functions.

Art. 23. The elected Executive Board, convened by the Chief Executive Officer, shall meet ordinarily once a month and extraordinarily, whenever deemed necessary, complying with the minimum quorum of a half plus one of its members. The Chief Executive Officer shall have the casting vote in addition to his own vote.

Sole Paragraph. The meetings of the Executive Board shall be drafted in the form of minutes to the appropriate book and signed by all attendees.

Art. 24. Executive Board shall have management duties and powers established in law and the Corporate Bylaws for ensuring the exact and efficient execution of the purposes of the Company.

1. It is incumbent on the officers to provide the Board of Directors and the Fiscal Council, including, at the request of any of the members of the same, information which is requested of them and any other information deemed relevant.

2. The Executive Board shall take its decisions collectively to perform acts which exceed those of a regular administrative nature according to provisions set forth in Art. 23, particularly on all the acts which in the light of these Corporate Bylaws, must be submitted to the Board of Directors.

Art. 25. In addition to their normal duties that are granted to them by these Corporate Bylaws, it is incumbent especially: a) on the Chief Executive Officer, to supervise all the activities of the Company, coordinate the activities of the other officers, to implement the corporate policy established by the Board of Directors for the Company and its controlled companies, and to supervise the internal audit; and b) on the remaining officers, to perform the functions established for them by the Board of Directors.

Art. 26. Any 2 (two) officers together, 1 (one) officer together with 1 (one) proxy with sufficient powers, or 2 (two) proxies together with sufficient powers, shall have the powers to: a) represent the Company as plaintiff or defendant; b) execute agreements and accept obligations; manage bank accounts, for this purpose, issuing and endorsing checks; settlement, agreeing commitments; withdrawing, endorsing for guarantee or discount, or acceptance of trade bills and any other negotiable instruments; and

c) engage guarantees or sureties for operations authorized by the Board of Directors.

1. 1 (one) officer, individually may provide testimony in Court.

2. 1 (one) officer, individually, or 1 (one) proxy with sufficient powers, may: i) issue trade bills and endorse them for bank collection, guarantee and/or discount, endorsing checks for deposit in a bank account in the name of the Company, execute foreign exchange contracts, issue purchase orders within the limits set by the Board of Directors; and ii) represent the Company with any federal, state, or municipal department, autarchy, or mixed economy corporation but contingent on this not involving the acceptance of obligations on behalf of the Company or releasing third parties from obligations to the same.

3. The Company may appoint proxies to represent it individually or jointly with an officer or another proxy as determined in the power of attorney. Proxies shall always be appointed for specific purposes and for a fixed duration unless in the case of powers of attorney of an ad judicia nature or for defending corporate interests in administrative proceedings. The appointment shall be made by 2 (two) Officers jointly.

CHAPTER V Fiscal Council

Art. 27. The Company shall have a Fiscal Council, installed on a permanent basis, composed of 3 (three) to 5 (five) effective members, shareholders or otherwise, elected by the General Meeting, with a term of office of 1 (one) year, reelection being permitted. The General Meeting shall also elect a specific alternate for each one of the members of the Fiscal Council and shall establish the respective remuneration.

1. The Fiscal Council shall have the powers, duties and responsibilities established in law.

2. The investiture of the members of the Fiscal Council shall be conditional on the prior signature of the Declaration of Consent of the Members of the Fiscal Council pursuant to the provision in the Level 2 Regulations, in addition to compliance with the applicable legal requirements.

CHAPTER VI Fiscal year, Financial Statement and Distribution of Profits

Art. 28. The fiscal year begins on January 1st and ends on December 31st of each year, when the corresponding legally required financial statements shall be prepared, the following rules as to the allocation of net income to be observed: a) Accumulated losses and income tax provision shall be deducted from the result for the fiscal year. b) Verified net income shall be allocated as follows: i) 5% (five percent) shall be allocated to a legal reserve up to a maximum of 20% (twenty percent) of the capital stock;

ii) constitution of other reserves required in law; iii) distribution to shareholders in each fiscal year of a dividend of no less than 25% (twenty- five percent) calculated on the adjusted net income as ordained in law and also adjusted for the creation, realization, and reversal in the respective fiscal year, of the Biological Assets Reserve, subsections v), vi) and vii) and the realization of the “Asset Valuation Adjustments” account; iv) formation of a Working Capital and Investments Reserve, consisting of a variable portion from 5% to 75% of the adjusted net income according to the law, observing the limit enshrined in Art. 199 of the Corporate Law for the purpose of ensuring resources for investments in plant, property, and equipment of the fixed assets, increases in working capital, including through the amortization of debt, irrespective of retained profits linked to capital budgets. The balance of the Reserve may be used to absorb losses, whenever necessary, in the distribution of dividends, at any time, in operations of redemption, reimbursement or acquisition of shares, when authorized as established in these Corporate Bylaws, or for incorporation in the capital stock; v) in each fiscal year, the creation of the Biological Assets Reserve with the purpose of allocating the effects of adjustments to the fair value of the biological assets while unrealized financially, the allocation of the result for the period in question, net of tax effects, of revenue from the evaluation of fair value of proprietary biological assets and of revenue from the evaluation of fair value of biological assets of controlled companies incorporated in the equity income result, booked by the controlling company. The amount to be used for establishing the Biological Assets Reserve shall be limited to the balance of the “Retained Earnings and Accrued Losses” account after the constitution, if constituted, of the Legal Reserve, Contingency Reserve, Tax Incentives Reserve and Realizable Profits Reserve; vi) in the case of expenses due to a reduction in the fair value of biological assets (proprietary and of controlled companies included in the equity income result) included in the profits for the fiscal year, the corresponding amount, net of taxes, shall be transferred from the Biological Assets Reserve to the “Retained Earnings or Accrued Losses” account; vii) the realization of the Biological Assets Reserve shall correspond to the amount of depletion of the fair value of the biological assets (proprietary and of the controlled companies included in the equity income result) verified in the result for each fiscal year, net of tax. The realization of profit balances in the Biological Assets Reserve shall cause the reversal of the corresponding amounts to the “Retained Earnings or Accrued Losses” account for allocation; viii) the Biological Assets Reserve may not exceed the amount of the capital stock; and ix) in case of losses in the fiscal year and, if after the realizations and reversals cited under subsections vi) and vii) above, there is still a negative balance in “Retained Profits or Accrued Losses”, the balances held in the profits reserve shall be used to offset the negative balance in accordance with the law, the Biological Assets Reserve being the penultimate one to be used to this end and the Legal Reserve, the final one. In the event of a continuing negative balance, the outstanding balance in the Capital Reserves may be used for this purpose.

c) The General Meeting shall decide on the allocation of any eventual balance in net income verified in the fiscal year.

1. Pursuant to legal provisions, the Management of the Company, may raise semi-annual balance sheets or balance sheets for shorter periods, as well as declaring ad referendum of the General Meeting, interim dividends for account of retained earnings or profit reserves existing in the last balance sheet.

2. The General Meeting may determine the distribution of a portion of net income to the members of the Company’s management neither in excess of half the respective annual remuneration, nor more than 0.1 (one tenth) of the profits, whichever is lower.

3. The payout of dividends shall be realized within a term of 60 (sixty) days, as from the date they are declared but in any case within the fiscal year unless the General Meeting should decide otherwise.

Art. 29. After the end of each fiscal year and quarter, the Company shall disclose the set of consolidated or individual financial statements together with the management report or comments on performance and opinion or report of a special review by the independent auditors pursuant to the law and Level 2 Regulations.

Sole Paragraph. The financial statements shall also be presented in English, this to take place at the most in 15 (fifteen) days from the publication of the financial statements in Portuguese according to the deadline enshrined in the current legislation.

CHAPTER VII Liquidation

Art. 30. The Company shall be dissolved and liquidated in the cases established in law, as determined by the General Meeting, which shall appoint the liquidators, who shall perform during the period of liquidation.

CHAPTER VIII Sale of the Control of the Company

Art. 31. The Sale of Control of the Company, whether through a single operation or successive operations, shall be contracted under the precedent or resolutive condition whereby the Purchaser undertakes to make a public offering to purchase the shares of the other shareholders of the Company, pursuant to the conditions and timeframe set forth under the prevailing legislation and in the Level 2 Regulations, thus ensuring treatment equal to that extended to the Selling Controlling Shareholder.

Sole Paragraph – The public offering, the subject of this Art., shall also be required:

(i) in the case of assignment for valuable consideration of rights to subscribe shares and other securities or rights related to securities convertible into shares which may result in the Sale of the Control of the Company; or (ii) in the case of sale of control of a corporation which holds the Power of Control of the Company, where the Selling Controlling Shareholder shall be required

to declare to B3 the amount attributed to the Company for this sale and attach documentation substantiating this amount.

Art. 32. The Purchaser acquiring the Power of Control, the result of a private share purchase agreement executed with the Controlling Shareholder, involving any number of shares, shall be required to: (i) execute the public offering referred to under Art. 32 above; (ii) pursuant to the conditions set forth below, pay the amount corresponding to the difference between the price of the public offering and the amount paid per share acquired on the stock exchange in 6 (six) months prior to the date of acquisition of the Power of Control, duly restated until the date of payment. The said amount shall be distributed among all the individuals who have sold shares of the Company on the trading days that the Purchaser made acquisitions, proportional to the net daily selling balance of each one, being incumbent on B3 to operationalize the distribution pursuant to the terms of its regulations; and (iii) accept the commitment in Art. 41 of these Corporate Bylaws.

Art. 33. The Company shall not register any transfer of shares to the Purchaser or to those that may eventually hold the Power of Control, while they have not signed the Declaration of Consent of the Controllers pursuant to the Level 2 Regulations and/or do not accept the commitment set forth in Art. 41 of these Corporate Bylaws.

Art. 34 – No shareholders’ agreement that provides for exercising the Power of Control may be registered at the registered offices of the Company while their signatories have still not signed the Declaration of Consent of the Controllers to which Level 2 Regulations refer and/or have not accepted the commitment established in Art. 41 of these Corporate Bylaws.

CHAPTER IX Cancellation and Registration as a Listed Company

Art. 35 – In the public offering for the purchase of shares to be made by the Controlling Shareholder or the Company for cancellation of registration as a listed company, the minimum price to be offered shall correspond to the Economic Value in the appraisal report prepared pursuant to paragraphs 1 and 2 of this Art., according to the applicable laws and rules.

1. The appraisal report to which reference is made in the opening sentence to this Art., shall be prepared by a specialized institution or company with proven experience and independence in relation to the power of decision of the Company, its Members of Management and/or the Controlling Shareholder(s) as well as satisfying the requirements of 1, Art. 8 of the Corporate Law and including the responsibility set forth in 6 of this same Art..

2. The selection of the specialized institution or company responsible for determining the Economic Value of the Company shall be exclusively the responsibility of the general meeting, based on the presentation by the Board of Directors of a list with three names. The respective decision shall be made by the majority of votes of the shareholders representing the Free Float of shares attending the meeting irrespective of blank votes and with each share having the right to vote regardless of type or class. If the meeting is installed on first call, it shall require the presence of shareholders representing at least 20% (twenty percent) of the total Free Float, or, if installed

on the second call, the meeting may be held with the attendance of any number of shareholders representing the Free Float.

CHAPTER X Delisting from Level 2 Corporate Governance

Art. 36. Should the delisting of the Company from Level 2 Corporate Governance be approved so that the securities issued by it are registered for trading outside Level 2 Corporate Governance, or by virtue of a corporate reorganization, in which the securities of the corporation resulting from this reorganization do not qualify for trading in the Level 2 Corporate Governance, within 120 (one hundred and twenty) days as from the date of the general meeting which approved the said operation, the Controlling Shareholder shall make a public offering to acquire the shares pertaining to the remaining shareholders of the Company, for at least the respective Economic Value, to be calculated in an appraisal report prepared pursuant to paragraphs 1 and 2 of Art. 36 in accordance with the applicable laws and regulations. Sole Paragraph. The Controlling Shareholder shall be released from the requirement to make a public offering of shares in accordance with the caption sentence to this Art. should the Company delist from Level 2 Corporate Governance as a result of an agreement to participate in the special segment of B3 known as the Novo Mercado (“Novo Mercado”) or if the company resulting from a corporate reorganization obtains the authorization for trading securities in the Novo Mercado within 120 (one hundred and twenty) days as from the date of the general meeting which approved the said operation. Art. 37. Should there be no Controlling Shareholder and the decision is taken to delist the Company from Level 2 Corporate Governance so that the securities issued by it are registered for trading outside Level 2 Corporate Governance, or due to an operation of corporate reorganization in which the shares of the resulting corporation no longer qualify for trading in the Level 2 Corporate Governance segment or in the Novo Mercado within a timeframe of 120 (one hundred and twenty) days as from the date of the general meeting which approved the said operation, delisting shall be contingent on the holding of a public offering for purchase of shares under the same conditions as in the preceding Art. above. 1. The said general meeting shall establish the responsible person(s) for holding the public offering for acquisition of shares, and who being present at the meeting, shall expressly accept the obligation to execute the offering. 2. In the event of there being no decision as to those responsible for holding the public offering for the purchase of shares, in the case of a corporate reorganization, in which the company resulting from this reorganization does not have securities which qualify for trading in the Level 2 Corporate Governance segment, it will be incumbent on the shareholders that voted in favor of the corporate reorganization to make the offering. Art. 38 – The delisting of the Company from Level 2 Corporate Governance, the result of noncompliance with obligations in the Level 2 Listing Regulations, is conditional on effecting a public offering for the purchase of shares for at least the Economic Value of the shares, to be

verified in an appraisal report and the topic of Art. 36 of these Corporate Bylaws, respecting the applicable laws and regulations. 1. The Controlling Shareholder shall make a public offering for purchase of shares as described in the caption sentence to this Art.. 2. Should there be no Controlling Shareholder and the delisting from Level 2 Corporate Governance cited in the caption sentence reflects the outcome of a decision of the general meeting, the shareholders who have voted in favor of the decision leading to the respective non- compliance shall be responsible for the purchase of shares as set forth in the caption sentence. 3. Should there be no Controlling Shareholder and the delisting from Level 2 Corporate Governance cited in the caption sentence arises out of an act or fact of management, the Managers of the Company shall call a general meeting of shareholders, the agenda of which shall be a decision on how to remedy non-compliance with the obligations set forth in the Level 2 Listing Regulations or, if the case, to decide to delist the Company from Level 2 Corporate Governance. 4. Should the general meeting mentioned in 3 above decide on the delisting of the Company from Level 2 Corporate Governance, the said general meeting shall decide the individual(s) responsible for holding the public offering for the purchase of shares described in the caption sentence, the individual(s), being present in the Meeting, shall expressly accept the obligation of making the offering.

CHAPTER XI Arbitration

Art. 39. The Company, its shareholders, Members of Management, and the members of the Fiscal Council, agree to settle by arbitration through the Market Arbitration Chamber, all and any dispute or controversy that may arise, related to, or resulting from, in particular, the application, validation, efficacy, interpretation, violation and their effects, of the provisions in the Corporate Law, the Corporate Bylaws of the Company, the rules published by the National Monetary Council, by the Central Bank of Brazil and the Brazilian Securities and Exchange Commission in addition to further rules applicable to the functioning of the capital markets in general as well as those set forth in Level 2 Regulations, Arbitration Rules, Sanctions’ Regulations and the Level 2 Corporate Governance Participation Agreement.

CHAPTER XII Transitory Provisions

Art. 40. The Controlling Shareholders undertake on their own behalf and on behalf of their successors, to exercise their voting rights so that in the event that migration of the Company to the special listing segment of B3, known as the Novo Mercado, is approved, the conversion of the preferred shares issued by the Company into common shares be mandatorily undertaken in the proportion of 1 (one) preferred share to each new common share, without payment or attributing any premium, in anyway, to any shareholders, irrespective of type, class or ownership of their shares. Furthermore, the approval of any proposal or operation, the effect of which is, by any means, to realize the conversion of preferred shares to common shares or the migration to the

Novo Mercado, without respecting this relationship of parity between all the shares issued by the Company, shall not be permitted.