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ri.klabin.com.br Earnings Presentation 2Q26 Klabin KLBN
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ri.klabin.com.br 2Q26 Earnings Presentation DISCLAIMER This presentation may contain forward-looking projections or statements. Such statements are exposed to known and unknown risks and differentnature uncertaintiesthat may cause these expectationsnot to materializeor to differ materiallyfrom those anticipated. Furthermore, these expectationsand projectionsare made based on estimates,informationor methodologythat may be inaccurateor incorrect. Those risks and uncertainties,among others, are related to: (i) future demand for the Company's products; (ii) changes in the aspects that impact the domestic and international product prices; (iii) changes in cost structures; (iv) changes in the seasonality of markets; (v) competitionin the markets in which the Company operates; (vi) exchange variations; (vii) changes in the global market and especiallyin the markets where the Company operates or sells its products; (viii) capital markets; and (ix) factors that affect the company's operation, including changes in laws and regulations. For additionalinformationon factors that may impact the Company's statements,please consult the ReferenceForm, in particularitem 4 (Risk Factors),which is registeredwith CVM and also availableon the Company'sInvestorRelations website. There is no guaranteethat the Company'sexpectationsor projectionswill occur and current results are no guaranteeof future performance. This presentationis up to this date and Klabin has no obligationto updateit in light of new informationand/orfutureevents. 2
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ri.klabin.com.br 2Q26 Earnings Presentation 3 2Q26 PERFORMANCE Pulp 121 k tons LONG FIBER /FLUFF 12% 264 k tons SHORT FIBER 26%386 k tons Paper 145 k tons KRAFTLINER 14% 214 k tons COATED BOARD 21%359 k tons Packaging 34 k tons INDUSTRIAL BAGS 3% 239 k tons CORRUGATED BOXES 24%273 k tons % of total sales volume¹ Conversion² (Integration) 64% CORRUGATED BOXES INDUSTRIAL BAGS 1 - Excludeswood and includesby-productsales. 2 - Considers the amount of paper used for packaging production in relation to the volume produced of containerboardin the period(479 k tons). 3 - Includes sale of wood, by-products, and hedge accounting. Total Sales¹ 1,018 k tons Adjusted EBITDA R$ 2.0 bn Net Revenue³ R$ 5.2 bn
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ri.klabin.com.br 2Q26 Earnings Presentation 4 2Q26 RESULTS Adjusted EBITDA of R$2.0 billion in 2Q26, reflecting the consistent performance across business segments and disciplined cost management, despite the appreciation of the Brazilian real against the U.S. dollar. FX R$ / US$ 2Q26 2Q25 Average dollar 5.05 5.67 Sales Volume¹ (k tons) Net Revenue² (R$ million) Domestic Market Foreign Market Adjusted EBITDA (R$ million) 1 – Excludes wood and includes sales of by-products 2 – Includes sales of wood, by-products and hedge accounting 51% 49% 2Q25 54% 46% 2Q26 1,011 1,018 +1% 61% 39% 2Q25 67% 33% 2Q26 5,247 5,151 -2% 39% 2Q25 38% 2Q26 2,041 1,962 EBITDA Margin Adjusted EBITDA
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ri.klabin.com.br 2Q26 Earnings Presentation 474 432 269 278 499 835 778 251 954 981 737 744 916 909 702 -72 2Q26 -44 1Q26 82 2Q25 Fixed Cost Variable Cost Fibers General and Administrative Expenses Sales Expenses Other Net Income/Expenses 3,204 3,342 3,178 -4% 1% 5 TOTAL CASH COST¹ Total cash cost of R$3,204/t, stable compared to 2Q25, reflecting efficiency initiatives that partially offset the impacts arising from geopolitical conflicts and preparations for El Niño. 1 - Includes scheduled maintenance shutdown costs. COGS Cost of products sold: variable costs (especially chemicals and fuels) and forestry operations (fuels). Selling expenses: international freight (bunker tariff) and domestic transportation (fuel). Operational efficiency sustains cost stability Impacts of geopolitical conflicts: Offset by efficiency initiatives and variable cost management, as well as the negotiation of container contracts
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ri.klabin.com.br 2Q26 Earnings Presentation 6 NET DEBT AND LEVERAGE Leverage (in US$) at 3.2x, down 0.1x compared to 1Q26 and 0.7x versus 2Q25. Position on 06/30/2026 (R$ billion) Gross Debt 34.1 Cash¹ 10.1 Net Debt 24.0 3.2 3.5 2.8 2.6 3.2 3.2 3.3 3.2 3.5 3.5 3.9 4.1 3.9 4.5 3.9 4.0 3.9 3.7 3.6 3.3 3.3 3.3 3.3 3.1 3.2 3.2 Net Debt/EBITDA (LTM² - US$)³ Net Debt/EBITDA (LTM² - R$)³ 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 19,515 7,502 20,882 6,544 20,193 6,322 21,350 2Q23 23,756 6,740 29,503 7,192 33,297 7,333 30,482 7,539 27,951 7,528 26,097 7,840 25,902 7,848 24,041 7,658 24,032 7,5796,032 Net Debt (R$ million) Adjusted EBITDA LTM² (R$ million) 1 – Does not include US$500 million Revolving Credit facility (RCF) due in Oct/30 2 – LTM: Last twelve months 3 – Net Debt/EBITDA (US$): considers the final US$ dollar of the period for the calculation of net debt and the average US$ dollar of the period for EBITDA
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ri.klabin.com.br 2Q26 Earnings Presentation 711 610 906 767 217 6,307 2029 217 3,456 2030 199 3,811 2031 460 1,100 2033 211 2,508 2034 1,408 2032 160 2035 179 2026 189 2036 2,052 0 578 2037 a 2042 0 3,624 2043 a 2049 6,218 2,156 28,471 Total 769 2027 2,865 6,524 3,673 4,010 1,561 1,617 2,7182,345 946 2,629 3,624 34,689 217 2,648 2028 1,408 33 months of coverage¹ 2,588 10,109 Liquidity Cash Position 12,697 7 AMORTIZATION SCHEDULE Robust liquidity position and extended debt profile, with no significant maturities in the short term. Local Currency Foreign Currency 83% of total gross debt is in US$, of which 77% is at fixed interest rates Revolving Credit Facility R$ million In months 2Q26 1Q26 2Q25 Average Debt Maturity 84 85 86 Cost of Debt in US$ (p.y.) 5.1% 5.1% 5.4% -0.3 p.p. 1 - Does not include available funds under the US$500 million Revolving Credit Facility (RCF), maturingin October2030
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ri.klabin.com.br 2Q26 Earnings Presentation 8 FREE CASH FLOW 1 – SPVs (Special Purpose Vehicles) and SCPs (Silent Partnerships). 2 – Excluding dividends and special projects and growth. The LTM 2Q25 figure includes R$148 million related to the Puma II Project. 3 – Yield - Adjusted FCF per unit (excluding treasury stock) divided by the average price of the Units in the LTM (Last Twelve Months). LTM LTM 2Q26 2Q25 Adjusted EBITDA 1,962 1,669 2,041 7,579 7,529 (-) Capex (657) (839) (649) (3,074) (9,186) (-) Lease contracts - IFRS 16 (86) (74) (96) (317) (370) (-) Interest Paid/Received (641) (422) (652) (1,943) (2,081) (-) Income Tax (50) (59) (39) (249) (408) (+/-) Working Capital Variation (358) (433) (124) (1,284) 908 (-) Dividends & IOC (278) (278) (279) (1,180) (1,426) (-) SPVs and SPCs¹ dividends (142) (6) (72) (226) (225) (+/-) Others 13 38 4 108 26 Free Cash Flow (236) (404) 133 (586) (5,233) Dividends & IOC 278 278 279 1,180 1,426 Puma II Project - - - - 148 Special Projects and Growth 23 24 100 110 455 Caetê Project Payment - - - - 6,371 Adjusted Free Cash Flow² 65 (102) 513 704 3,166 Adjusted FCF Yield³ 3.1% 12.6% R$ million 2Q26 1Q26 2Q25
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ri.klabin.com.br 2Q26 Earnings Presentation 9 2025 LTM 2026 1,215 1,180 Dividends + IoC (R$ million) Dividend Yield¹ SHAREHOLDER RETURNS 5.3%5.3% 1 – Calculated based on the dividends paid per unit and the average daily closing price of the unit in the period. 2 – As approved at the Board of Directors' Meeting held on 12/08/2025. To access the Material Fact, click here. Ex-dividend date: December 16,2025. Payment to be made on August 19, 2026. 3 – To access the Company’s Dividend and Interest on Capital Policy, click here. 4 – According to the Material Fact published on June 24, 2026, click here. DIVIDENDS R$ million considering cash method Dividends 2Q26²: R$ 278 million (14% of EBITDA) Dividends and IoC Policy³: Target payout between 10% and 20% of Adjusted EBITDA SHARE BUYBACK PROGRAM4 Focus on generating shareholder value through the efficient management of the capital structure and management’s confidence in the strength of the business fundamentals ANNOUNCEMENT June 24, 2026 TERM 18 months AQUISITION LIMIT 31,250,000 Units
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ri.klabin.com.br 2Q26 Earnings Presentation 10 PULP PAPER PACKAGING SHORT FIBER FLUFF COATED BOARD KRAFTLINER INDUSTRIAL BAGS CORRUGATED BOXES Negative Trend Neutral Trend Positive Trend MARKET THERMOMETER DEMAND (MARKET) SALES VOLUME PRICES¹ 1 – Prices in US dollars for pulp and paper, based on an average exchange rate of R$ 5.05/US$ in 2Q26 and an estimated average exchange rate of R$ 5.13/US$ in 3Q26; prices in R$/m² for packaging
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Appendix
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ri.klabin.com.br 2Q26 Earnings Presentation 12 PULP Strategic volume allocation, capturing opportunities across regions and markets throughout the period. Prices increased by 11% for short fiber pulp and 7% for long fiber/fluff pulp in USD/ton, compared to 1Q26. 1 – Calculation based on the average dollar exchange rate for the period of R$ 5.05/US$ 279 264 2Q25 2Q26 -5% 585 645 2Q25 2Q26 +10% Sales Volume (k ton) LONG FIBER/FLUFF Sales Volume (k ton) SHORT FIBER Net Price (US$ per ton¹) Net Price (US$ per ton¹) 98 105 18 17 2Q25 2Q26 Long Fiber Fluff 116 121 +5% 954 2Q25 2Q26 1,010 -5%
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ri.klabin.com.br 2Q26 Earnings Presentation 13 PAPER Sales volumes increased, driven by the performance of the coated board segment (+7% versus 2Q25). In containerboard, the Company leveraged its operational flexibility to increase integration with the corrugated boxes business. Sales Volume (k ton) Net Revenue (R$ million) COATED BOARD Sales Volume (k ton) Net Revenue (R$ million) CONTAINERBOARD 145 145 2Q25 2Q26 0% 591 531 2Q25 2Q26 -10% 200 214 2Q25 2Q26 +7% 2Q25 2Q26 1,1831,124 +5%
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ri.klabin.com.br 2Q26 Earnings Presentation 14 CORRUGATED BOXES Sales volume reached 239 thousand tons, in line with the same period of the previous year, reflecting the strong comparison base of 2Q25 and revenue increased driven by higher prices. Sales Volume Net Revenue (k ton) (million m²) (R$ million) 236 239 2Q25 2Q26 +1% 430 428 2Q25 2Q26 0% 2Q25 2Q26 1,514 1,586 +5%
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invest@klabin.com.br invest@klabin.com.br ri.klabin.com.br/ ri.klabin.com.br/ Klabin.SA Klabin.SA Klabin Invest @klabin.sa @bioklabin @klabinforyou Klabin.SA klabin.sa klabinforyou Klabin.SA