Institutional Presentation

February, 2013
1

Disclaimer
The statements contained in this presentation related to the business outlook, operating and financial projections, and growth prospects of Klabin S.A. are merely projections, and as such are based exclusively on the expectations of the Companys management concerning the future of the business.

These forward-looking statements depend substantially on the market conditions, the performance of the Brazilian economy, the industry and international markets, and therefore are subject to change without prior notice.

This presentation on Klabins performance includes non-accounting and accounting data, such as operating and financial information, as well as projections based on Managements expectations. Note that the non-accounting data has not been reviewed by the Companys independent auditors.

The Companys management believes EBITDA may provide useful information on the Companys operating performance and allow for comparisons with other companies in the same industry. Note however that EBITDA is not a measure established in accordance with generally accepted accounting principles of the International Financial Reporting Standards IFRS, and may be defined and calculated differently by other companies.

A differentiated company

A differentiated company

Competitive forest Market position Industrial technology Superior cost management Clear growth strategy

Differentiation of forests Brazil

Heart of Paran
(logistics and volume)

Massive forest
Monte Alegre

Distribution of rain Soil quality

State of

Paran

Insolation

Forestry productivity
Paran
Cloning

71 58 62

55 49 Forestry 37 productivity
Eucalyptus m3/ (ha.year)

38 13 14 15

18

8 MAI
Tonnes of pulp/ (ha.year)

10

Growth Density Factory yield 2010

2012
6

1995

2000

2005

2015

Market position
Leader in the Brazilian packaging paper market, where we allocate more than 50% of our capacity

paper

Coated Boards

Kraftliner

50% 670
thousand market share
Sole supplier of liquid packaging board in Latin America

40% 387
installed capacity thousand
tonnes sold in 2012
7

tonnes sold in 2012

Market position
Leader in the Brazilian packaging market where we allocate more than 95% of capacity

conversion

Industrial Bags

Corrugated Boxes

market share

50%
Second players market share is 16%

market share

15%
Second players market share is 9%
8

Destination of Klabins products

Strongly linked to the consumer market

Food

68%

13% 7%
Others

Other consumer goods

Building

Sales volume destination paper and packaging 9

Exports

Sustainable export capacity

One of the three largest suppliers for Tetra Pak in the world, with long term relationship of more than 25 years

Export revenues account for approximately US$ 500 million per year
10

Industrial technology
Constantly investing
in the latest equipment and production efficiency 2008 2009 2010 2011 2012

Machine 9 of coated boards in Monte Alegre, the best and most modern in Latin America 4 new printers for corrugated boxes

Start up of a new corrugator in Goiana (PE)

Start up of a new corrugator in Jundia DI (SP), the widest and fastest in Brazil and one of the majors of the world

11

Matrix control of costs (Falconi)

Focus in 2011: Monte Alegre mill Focus in 2012: Forestry

Superior cost control

1% 1,607 1,595

Reversion of excessive outsourcing

High return investments

Mechanical Vapor Recompression (Debottlenecking in Monte Alegre) Biomass boilers in Santa Catarina State High voltage transmission line Evaporation system
12

2011
R$ / tonne

2012

Nominal cash cost

Superior cost control

teamwork and proper incentives
Group of executives with extensive experience in the market, merged with the hiring of new executives New compensation metrics: individual and collective goals Aggressive targets Variable compensation linked to results, focus on short-term and long-term Long-term incentives through stock matching
13

Adjusted EBITDA LTM

47% growth 32% 31% 29% 28% 26% 25% 24%
Adjusted EBITDA LTM Margin

1,352 1,089 1,180 1,286

1,028 922
1.7

939
1.7 Sep11 1.7 1.7 1.7 1.7 1.7

Jun11

Dec11

Mar12

Jun12

Sep12

Dec12
14

EBITDA LTM (R$ million) Adjusted EBITDA LTM (R$ million) Sales Volume LTM (excluding wood million tonnes) LTM Last twelve months

Growth strategy

15

From now on

2013

2014

From 2015

Benefits from the cost reduction New sack kraft machine at the 4Q13

Recycled paper machine at the 3Q14 Debottlenecking at paper machine 9 (coated boards)

Pulp mill New coated boards machine Kraftliner paper machine

16

Growth strategy
long-term
Growth on the same site

The only company that owns a large pine forest in Brazil

Project driven towards domestic market

17

Softwood imports in Brazil

377 286 Large and growing market in Brazil, currently supplied by softwood imports
2007 2011

thousand tonnes
18

New pulp line project

Same site, high productivity 150 MW of electricity in excess Project based on fluff market and Klabin paper needs Flex mill (long and short fibers) Capital structure to dilute risks Lowest cash cost producer High return with conservative assumptions

19

Inbound logistics
Average hauling distance

New mill

75 Km

Average hauling distance

Monte Alegre

50 Km
Klabin Pulp Klabin SA Vale do Corisco
20

Outbond Logistics

Klabin Area 27.530 m

Paranagu Port

Paran Terminal
Existing railroad to Paranagu Port: 424 km To be constructed: 17 km

Pulp Mill

21

Capital structure
Klabin SA US$ 1 billion 51% Investors US$ 1 billion 49%

Klabin Pulp US$ 3.8 billion

Debt US$ 1.8 billion

22

Financial results

23

Sales
Sales Volume (excluding wood tsd tonnes) Net Revenue (R$ million)

1,739
34%

1,727
31%

4,164 3,889
22% 24%

66%

69%

78%

76%

2011

2012
Domestic Market

2011
Export Market

2012

24

EBITDA and Net Income

1,352

1,028 752

183
2011
(R$ million)

2012

2011
Net income
(R$ million)

2012

Adjusted EBITDA

25

Net debt

Net Debt/ EBITDA (LTM)

2.2

2.2

2.4 2.1 2.0

2.5

2.3

2.5

2.3

2.4

LTM Last twelve months 26

2,757

Loan maturity schedule

931 915
387 438

R$ million

803
99 704

583
150 493 433

613 557
99 458 60 552

515
46 469

528

328 279
89 215 191 112

264
86 177

250
100 150

Cash

1Q13 2Q13 3Q13 4Q13 2014 2015 2016 2017 2018 2019 2020
Foreign currencyR$ 4.4 billion
Average tenor: 46 months

Forward

Local currency R$1.7 billion

Average tenor: 31 months

Gross debt

R$ 6.0 billion
27

Capex

R$ million Maintenance and special projects Sack kraft expansion Recycled expansion Total

2012 552 77 25 654

2013E 361 127 212 700

28

Appendix

29

Shareholder structure
Common
Monteiro Aranha 20%

Preferred
Treasury 5% BNDES 13%

Brazilian investors 42% Brazilian investors 20%

Klabin Irm os 60%

Foreign investors 40%

316,827,563 shares
Level 1 of Corporate Governance at BM&FBovespa Tag along rights of 70% for preferred shares

600,855,733 shares
Average daily trading volume in 2012 R$ 25 million Dividends in 2012 R$ 275 million (yield 4%)

Capacity
Domestic market 2.5 m t
wood logs

243 k ha
eucalyptus and pine forests

700 k t
coated boards

1.7 m t
planted forests: 243 thousand ha short fiber and long fiber pulp

Domestic and export markets 145 k t

industrial bags

960 k t
kraftliner

Domestic market 250 k t

old corrugated containers

200 k t
recycled paper

540 k t
corrugated boxes

31

Paper business unit

419 387 542

529

Kraftliner

64% 36% 2011

55% 45% 2012 2011 2012

1,499 649 670 45% 55% 2012 2011 2012 1,309

Coated

boards
Kraftliner Recycled Kraftliner and coated boards

45% 55% 2011

Thousand tonnes
Domestic market

R$ million
Export market

32

Conversion business unit

0% 1.223 502 494 1.217

Corrugated

boxes
2011 2012 2011 2012

Industrial

136

144

489

565

bags
Corrugated boxes Industrial bags Corrugated boxes and industrial bags

2011

2012

2011

2012

Thousand tonnes

R$ million

33

Imports
Exchange rate (R$ / US$) 1.72 1.65 1.87 2.04

Jan 10

Jan 11

Jan 12

Jul 12

Dec 12

Effective imports of goods packed

(monthly average - tonnes) Industrialized food Pharmaceutic al Toys Hygiene Footwear 2010 286.043 3.201 3.611 5.761 1.320 2011 369.261 3.239 4.235 6.814 1.602 2012 300.079 3.495 2.575 7.536 1.193
2012 / 2011

-19% 8% -39% 11% -26%

34

Source: SECEX / MDIC - Receita Federal SP. 02/01/2013

Income statement
(R$ thousand) Gross Revenue Net Revenue Change in fair value - biological assets Cost of Products Sold Gross Profit Selling Expenses General & Administrative Expenses Other Revenues (Expenses) Total Operating Expenses Operating Income (before Fin. Results) Equity pickup Financial Expenses Financial Revenues Net Foreign Exchange Losses Net Financial Revenues Net Income before Taxes Income Tax and Soc. Contrib. Net income Depreciation and amortization Change in fair value of biological assets Vale do Corisco EBITDA 4Q12 1,294,027 1,078,364 113,410 (724,937) 466,837 (85,958) (73,646) 14,537 (145,067) 321,770 498 (104,286) 51,381 (25,463) (78,368) 243,900 (97,385) 146,515 168,725 (113,410) 7,135 384,220 3Q12 1,305,430 1,085,766 333,122 (714,806) 704,082 (81,989) (74,243) 1,236 (154,996) 549,086 1,755 (115,435) 75,953 (15,377) (54,859) 495,982 (165,144) 330,838 151,759 (333,122) 7,033 374,756 4Q11 1,197,225 994,076 (1,569) (613,922) 378,585 (82,059) (73,038) 46,676 (108,421) 270,164 (429) (96,303) 74,333 (42,229) (64,199) 205,536 (83,105) 122,431 85,433 1,569 2,295 359,461
4Q12/3Q12

4Q12/4Q11

2012 4,996,659 4,163,670 885,988 (2,823,148) 2,226,510 (344,574) (273,918) 10,373 (608,119) 1,618,391 25,827 (437,878) 267,950 (377,834) (547,762) 1,096,456 (344,491) 751,965 592,677 (885,988) 26,538 1,351,618

2011 4,686,275 3,889,151 270,577 (2,827,442) 1,332,286 (321,055) (249,405) 35,308 (535,152) 797,134 (429) (434,696) 316,311 (382,183) (500,568) 296,137 (113,416) 182,721 547,768 (270,577) 2,295 1,076,620

2012/2011

-1% -1% -66% 1% -34% 5% -1% 1076% -6% -41% -72% -10% -32% 66% 43% -51% -41% -56% 11% -66% 1% 3%

8% 8% N/A 18% 23% 5% 1% -69% 34% 19% N/A 8% -31% -40% 22% 19% 17% 20% 97% N/A 211% 7%

7% 7% 227% 0% 67% 7% 10% -71% 14% 103% N/A 1% -15% -1% 9% 270% 204% 312% 8% 227% 1056% 26%

Investor Relations
Phone: +55 (11) 3046-8401 www.klabin.com.br/ir invest@klabin.com.br
36