Disclaimer BETO ABREU CEO • PULP CAPACITY EXPANSION IN LATAM AND ASIA • ACCELERATION OF NEW INTEGRATED CAPACITY IN CHINA • WOOD COST PRESSURE IN CERTAIN REGIONS AND LOW EBITDA MARGIN OVER A LONG PERIOD PUT A SIGNIFICANT PULP CAPACITY UNDERWATER New competitive landscape highlights the need for more focused goals, to drive value creation This presentation contains what are considered "forward-looking statements," as defined in Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exch ...