- Adjusted EBITDA set a new record of R$ 1.928 billion, up 56% compared to 3Q20 

- Supported by improvement in all business lines, net revenue grew 40% year over year to R$ 4.358 billion 

- In the quarter, Klabin started up the first paper machine of the Puma II Project, which will produce the innovative Eukaliner®, the world's first kraftliner made exclusively from eucalyptus fibers

São Paulo, October 26, 2021 - Klabin, Brazil’s largest packaging paper producer and exporter, the country’s only producer to offer solutions in hardwood, softwood and fluff pulp, and the leading producer of corrugated board packaging and industrial bags, reported growth of 56% in its adjusted EBITDA (earnings before interest, tax, depreciation and amortization) in the third quarter of 2021 compared to the same period last year, to R$ 1.928 billion. 

Results for the quarter were supported by strong demand for the Company's products, its commercial flexibility and its solid operating performance. Total sales volume, excluding wood, in the months of July August and September came to 951,000 tonnes, representing growth of 4% on 3Q20. Supported by favorable market conditions, net revenue in the quarter grew to R$ 4.358 billion, up 40% on the prior-year quarter. Excluding the effect of the additional revenue from the units acquired from International Paper, of R$ 354 million in the quarter, net revenue grew by 29% year over year. 

Cash generation in the quarter was driven by Adjusted EBITDA and by the diligent allocation of capital, with return on capital employed, measured  by ROIC, of around 20% in the last 12 months. 

Klabin's integrated, diversified and flexible business model once again enabled it to deliver strong results in the period, demonstrating its solidity and capacity to create value consistently for all of its stakeholders. 

PUMA PROJECT II 
The third quarter of 2021 was marked by the startup of the first paper machine (MP27) of the Puma II Project, located in Ortigueira, Paraná. With annual production capacity of 450,000 tons, MP27 is launching Klabin's production of Eukaliner®, the world’s first kraftliner paper made 100% from eucalyptus fiber. 

INVESTMENTS 
In the third quarter of the year, the Company invested R$ 1 billion. Of this amount, R$ 134 million was allocated to the forestry operations, R$ 113 million to the operational continuity of plants and R$ 130 million to special and expansion projects, including the projects approved in June. Investment in the Puma II Project in the period amounted to R$ 623 million, bringing the total invested to date to R$ 7.136 billion, of which R$ 5.316 billion was invested up to 2020 and R$ 1.820 billion in the first nine months of 2021. 

AGENDA 2030 
Also in the third quarter of 2021, Klabin became a signatory of the LGBTI+ Companies and Rights Forum, through which it undertook ten commitments that aim to foster respect for differences in the community. The initiative is aligned with the Klabin Sustainable Development Goals (KODS), which guide the Company's Agenda 2030.