2nd Quarter 2008 August 08

Forward Looking Statement

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 in Brazil (Brazilian Corporate Law or BR GAAP) or with U.S. generally accepted accounting principles (US GAAP), and may be defined and calculated differently by other companies.

Contents

Company Profile Businesses and Markets Financial Performance

4 15 47

Expansion of Coated Boards

61

Future

65

Company Profile
A forestry based company focused on wood, coated boards, packaging paper and paper based packaging products:
17 plants in Brazil and 1 in Argentina Largest Brazilian producer and exporter of paper (packaging paper and coated boards) Installed production capacity: 2.0 million tpy Market Capitalization: US$ 3.4 billion (30/06/2008)

Net Revenue: US$ 897 million in 1H08

Forestry
Wood logs

Packaging Paper
Kraftliner Coated Boards

Paper Based Packaging

Industrial Bags Corrugated Boxes

7%

19%

30%

13%

31%
4

History
With 109 years of history and tradition, Klabin grows sustainably, supported by projects structured towards value creation.
Already positioned Klabin and Lafer families founded Klabin Irmos & Cia. among the largest Brazilian paper producers Launched production of newsprint and packaging paper Advanced on the packaging segment, producing corrugated boxes, bags and envelopes and became the major pulp, paper and paper products producer in Latin America Sale of non core assets and focus on packaging Capacity of 2 million tonnes

1899
A company in the office supplies trading and printing businesses

20s

1934 1947
Founded Klabin do Parana, the first integrated pulp and paper mill in Brazil

70s
Consolidated Leadership

2000

2003 2006
MA 1100

2008
Start up

Acquisition of Igaras Papis e Embalagens

Expansion MA 1100 Project

Integrated Business Concept

After MA 1100 Expansion Project

Forests
Lands 441,000 ha

Wood - 2.5 million tpy Sack Kraft 155,000 tpy 100% Integrated Pulp
100% Integrated Industrial Bags

155,000 tpy

Planted Forests Pine 156,000 ha Eucalyptus 62,000 ha

NBSK BEKP CTMP

Coated Boards 740,000 tpy

Liquid Packaging Board Carrier Board Folding Box Board 740,000 tpy

Domestic and Export Sales

Exports 410,000 tpy Exports 410,000 tpy Kraftliner 770,000 tpy

Domestic Market 90,000 tpy 35% Integrated

1.7 million tpy

OCC 380,000 tpy

Recycled Paper 300,000 tpy

Corrugated Boxes 540,000 tpy

(*) Finished Products

100% Integrated

2.0 million tpy

(*) All figures refer to installed production capacity

Shareholder Structure
30/06/2008
Total Shares (Common + Preferred) Local Price Share (KLBN4) 30/06/08 Book Value (30/06/08) Average Daily Trading Volume - 2Q08 917,683,296 R$ 5.99 R$ 3.26 R$ 8,0 million

Common
Brazilian Investors 28% Brazilian Investors 38%

Preferred
Monteiro Aranha 20% BNDESPAR 31%

Klabin Irmos 52% 316,827,563

Treasury Stock 2%

Foreign Investors 29% 600,855,733

Klabin's presence

Corrugated Boxes

Forestry

Recycled Papers

Pulp and Paper Mills

Industrial Bags

Corporate Governance
Highlights
Klabins preferred shares are traded at IBOVESPA, IBX-50 e MSCI Brazil Joined BOVESPAs Level I of Corporate Governance Tag Along rights of 70% for preferred shares Adopted insider trading policy for securities issued by the company Strict separation of Board of Directors and Executive Board Compensations for members of the Executive Board are linked to value creation metrics (EVA) that take into account the opportunity cost of investments Independent Auditors are rehired only after a formal and documented evaluation by the Board of Directors Permanent Fiscal Council with frequent communication with Internal and External Auditors

Sustainability Policy
Principles
1. To seek competitive quality, aiming at sustained improvement of results, continuously perfecting processes, products and services so as to meet customers, employees, shareholders, suppliers and communities expectations. 2. To ensure supply of its industrial units with wood from planted forests, in a sustainable way and without any damage to either natural or associated ecosystems. 3. To practice and promote the recycling of pulp fiber in its production chain. 4. To prevent and avoid pollution by means of reducing environmental impact from effluents, solid residues and emissions to air. 5. To promote employees personal and professional advancement , and to strive for continuous improvement of their working environment, health and safety. 6. To exercise social responsibility with focus on the communities where the Company is present. 7. To comply with laws and regulations applicable to product, environment, health and safety.

10

Investment Thesis
One of the One of the Global Lowest Global Lowest Cash-Cost Cash-Cost Producer Producer Solid Solid Financial Financial Performance Performance Successful R&D Successful R&D Track-Record Track-Record

Market Market Leadership and Leadership and Growth Growth Opportunities Opportunities Top Top Sustainability Sustainability Standards Standards

Outstanding Outstanding Product Product Quality Quality

11

Successful R&D Track-Record

1. Forest productivity: 5% increase in yield over the past three years 2. Expectation of 50% yield growth over the next 10 years 3. Genetic improvement, cloning and silvicultural development 4. Savings with new forests of approximately US$50 million per year 5. Allow for brownfield expansion more productivity at low fixed costs 6. Ensure sustained competitiveness

12

Outstanding Product Quality

1. Different fibers enable very specific and high quality products 2. Coated boards with thinner grammage and same mechanical properties (due to internal R&D efforts) 3. Sole supplier of Liquid Packaging Boards (LPB) in southern hemisphere 4. Diversity of products 5. Higher average prices

13

Market Leadership and Growth Opportunities

1. Market leadership in all segments in Brazil with space to grow:
20% of Brazils paper production 55% market share in sacks 20% market share in boxes 50% market share in Kraftliner 17% market share in Coated Boards 100% market share in Liquid Packaging Boards (LPB)

2. Largest paper exporter more than 50 countries 3. Regular exporter more than 25 years 4. Coated boards growing twice the market average in Brazil

14

Business and Markets

15

Largest Producers of World paper and board - 2007

Country 1. USA 2. China 3. Japan 4. Germany 5. Canada 6. Finland 7. Sweden 8. South Korea 9. Italy 10. France

Million Tons

84,1 65,0 31,0 22,7 18,2 14,1 12,1 10,7 10,0 10,0

11. Brazil
Total

9,0 389,5
16

Source: RISI

Production of Packaging Paper - 2007

World Production
Europe 22%

Production Brazil
Klabin 35%

Latin America 6%

Rigesa 9%

Orsa 8%
Asia 40% Noth America 27% Africa/ Oceania 5%

Others 35% Inpa 3% Irani 3% S Roberto 3%

Trombini 4%

128 million tonnes

Source: RISI and Bracelpa

3,6 million tonnes

17

Inst. Cap. World of Packaging Paper - 2007

Containerboard

Kraftliner
Smurfit-Stone 12% International Paper 11% Weyerhaeuser 10%

Nine Dragons 3%

Others 80%

Klabin 2%
Koch 6%

International Paper 3% Weyerhaeuser 4% Smurfit Kappa Group 4% Smurfit-Stone 5%

Inland 6%

Klabin 1%

Others 53%

140 million tonnes

Source: RISI

35 million tonnes
18

Global Packaging Market

EUR 400 billion
Global Packaging Market
Flexibles 17% Rigid Plastics 18% Corrugated 19%

Forestry based packaging:

30 % of the World Packaging Market

Coated Boards 9%

Bags 2% Others 5% Glass 10%

Source: Pory

Metallic 20%

Market of EUR 120 billion per year

Brazilian Market
Plastic 32% Wood 2% Paper 8%

40% of the Brazilian market

Paperboard 31% Metallic 21%

Source: IBGE

Glass 6%

19

Global Market
Growth of Paper Production 2007-2020 Average Growth of Global Paper Production - 2007 - 2020
3,5

3,3%
CAGR Average = 2,5%

3,3%

Average Growth in Production (%)

2,5

2,1 % 1,9%

1,5

1,0%

0,5

0 1 50 Accumulated Participation in Global Production 2007 (%) Print and Write Newspaper Tissue Containerboard Others 99

Source: RISI

20

Wood

Products: wood logs Customers: Sawmills and laminators

Species

Main Products Sawn Lumber Fence Clear Blocks Finger - Joint - Blanks Mouldings Plywood

Destinations

USA Europe Domestic Market

Pine

Eucalyptus

Sawn Lumber Veneer Plywood Glued Laminated Beams Edge Glued Panels Outdoor Furniture

Europe Asia USA Domestic Market

21

Wood
Housing starts

"US New Privately Owned Housing Units Started"

Seasonally Adjusted Annual Rate
Thousands

2.500 2.300 2.100 1.900 1.700 1.500 1.300 1.100 900

Ja n M - 00 a yS 00 ep Ja 00 n M -0 a 1 yS 01 ep Ja 01 n M - 02 a yS 02 ep Ja 02 n M -0 a 3 yS 03 ep Ja 03 n M - 04 a yS 04 ep Ja 04 n M -0 a 5 yS 05 ep Ja 05 n M - 06 a yS 06 ep Ja 06 n M -0 a 7 yS 07 ep Ja 07 n M - 08 a y0 8

Housing Units
Source: US Census Bureau

Average
22

Forests
Forestry base
Land and Forests 30/06/2008 Company Land Planted Forests Pine Eucalyptus Native preserved forests thousand ha 441 218 156 62 183

Average Hauling Distance Paran Santa Catarina Correia Pinto Otaclio Costa So Paulo

Km 58

76 66 100

23

Forests
Competitive advantage
Average Productivity (m3/ha/year) 30/06/2008 Paran Santa Catarina So Paulo Pine 33 35 25 Eucalyptus 46 21 38

Softwood - Rotation (years) Klabin South Africa Chile Australia USA Sweden
0 20 40 60 80

Hardwood - Rotation (years)

20 25 25 35 45 100
100 120

Klabin South Africa Chile Portugal Sweden Finland

0 5

7 9 11 13 37 37 10 15 20 25 30 35 40

Source: Pyry

24

Kraftliner
Pioneerism and leadership in the production of kraftliner in Latin America Largest producer and exporter of packaging paper - 74% of Brazilian exports 6% share of the global market, exporting to more than 50 countries

Supplies Klabins 9 corrugated boxes converting plants

25

Kraftliner
Price evolution
US$/tonne

900 800

20 %
700 600 500 400 300 200 100 0
Jan-04

720

8%

781

0%

12%

602

541

539

2004

Jan-05

2005

Jan-06

2006

Jan-07

2007
Average

Jan-08

2008

Kraftliner price (free delivered)

Source: FOEX/Kraftliner Brown 175 g/m2

26

Coated Boards

Liquid Packaging Boards (LPB)

Folding Box Boards

Carrier Boards Carrier Board

27

Coated Boards
Klabin's Market Share Evolution
Brazilian Board Shipment (excluding LPB) 1995 / 2008
1995 - 410 kt
Others 16% Suzano 32%

2000 - 513 kt
Klabin 3%
Others 19% Suzano 34%

Ripasa 21%

Ibema 8% Itapag 10% Papirus 13%

Ripasa 15% Itapag 9% Papirus 13%

Ibema 7%

2005 - 582 kt
Klabin 15%
Suzano 31%

2008* - 252 kt *Jan-Jun

Klabin 18%
Suzano 32%

Others 13%

Ripasa 12% Itapag 6%

Ibema 10% Papirus 13%

Others 27% Papirus 12%

Ibema 11%

Source: Bracelpa

28

Global Board Market

28 million tpy

1.5 8.4
North America

Eastern Europe

5.6

Europe

10.5 Asia 0.6

Africa and Middle East

1.4

Latin America

Klabin focus on the virgin fiber based segment, which amounts to 10 million tpy:
- Liquid Packaging Board: 3.1 million tpy - Carrier Board: 2.7 million tpy - Folding Boxboard: 4.3 million tpy
29

OCC (Old Corrugated Container)

Price evolution
R$/tonne 600
540 500 429 400 392 300 261 200 405 379 360 342 479 473 423

100

0
Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08

OCC Price

Average
30

Source: Klabin

Coated Boards
Structure

Triple clay coating Bleached Pulp mixed hard/soft fibers Unbleached Pulp mixed hard/soft fibers + CTMP Unbleached Pulp softwood fibers Starch

Attributes
Softwood Hardwood + 3 coating State of the art equipment Stiffness Printability Runnability
31

Coated Boards
Grades

1) LPB - Liquid Packaging Board

Packaging Products Aseptic Packaging Long Life
Isolates product and free of contamination

Non-aseptic Packaging
Product must be kept refrigerated

Technical Attributes
Wet tear resistance Stiffness Edge Weakening Printability Runability

32

Coated Boards
Aseptic package structure

The layers of aseptic package, from the outer layer inwards:

Polyethylene Printed design Paper Polyethylene Aluminium foil Polyethylene Polyethylene

Paper makes the packages stiff Plastic renders them liquid-tight Aluminium foil blocks out light and oxygen
33

Coated Boards
Grades

2) Carrier Board
Packaging Products
Beverages
Tins and bottles

Dairy Products
Plastic bottles and pots

Technical Attributes
Wet tear resistance Printability Runability

34

Coated Boards
Grades

3) Folding Box Board

Packaging Products Powder Detergent Cereals Frozen Foods

Technical Attributes Printability Runability Stiffness + Stacking

35

Commercial Agreements
Coated Boards

Tetra Pak

MeadWestvaco

Perez Trading

These agreements represent 530,000 tonnes of coated boards, or 72% of the 740,000 tpy installed capacity.
36

Coated Boards
Brazilian Consumption per Main Industries and Market Share

Consumption Main Industries 2006

Market Share 2007

Suzano 25%

Others 4% Personal Care 3%

Food/ Beverages 93%

Klabin 38%

Ripasa/MD 8% Nobrecel 1% Ramenzoni 2% Miguel Forte Bonet 4% 3%

Ibema 10%

Papirus 9%

Includes LPB

Source: BRACELPA

37

Coated Boards
Free delivered (USA) price evolution
US$/tonne

1.200

1,003
1.000

1,031

847
800

897

936

600 400 200 0

Jan-04

2004

Jan-05

2005

Jan-06

2006 Jan-07
Average

2007Jan-08

2008

Coated Board Price

Source: RISI Index List Price 20Pt. Clay-Coated Unbleached Folding Cartonboard

38

Coated Boards
Klabin - 6th Largest Producer of Virgin Fiber Coated Boards

MeadWestvaco Stora Enso International Paper Graphic Packaging Korsnas/Frovi Klabin M Real Iggesund Potlatch Georgia Pacific

500

1,000 1,000 tpy

1,500

2,000

2,500

3,000

Liquid Packaging Board

Folding Box Board

Carrier Board

Solid Bleached Sulphate

Source: Pyry

39

Coated Boards
Klabin 3rd Largest Tetra Pak Supplier in 2009
Stora Enso Korsnas/Frovi Klabin International Paper Potlatch MeadWestvaco Graphic Packaging M Real Iggesund

200

400

600 1,000 tpy

800

1,000

1,200

1,400

1,600

Liquid Packaging Board

Folding Box Board

Carrier Board

Source: Pyry

40

Industrial Bags

Market leadership in the segments of multiwall and SOS bags

Recognized for high quality products and customized customer service

Supplies for a variety of industries, highlighting the building industry, food, chemical products and agribusiness
41

Industrial Bags
Brazilian Consumption per Main Industries

Consumption Main Industries 2007

Building Industry 71%

Food 3% Others 13% Seed 4%

Minerals 5% Chemical 4%

Source: Klabin
42

Industrial Bags
Brazilian Consumption of Cement

M illion tonnes

4,0

3,0

2,0

jan

feb

mar

apr

may

jun

jul

aug

sep

oct

nov

dec

2006
Source: SNIC

2007

2008

43

Corrugated Boxes

Leadership of the corrugated boxes market in Brazil

Largest production capacity in Brazil with nine corrugated boxes converting plants

Klabins products reach every industry sector, providing total protection for packaged products transported
44

Corrugated Boxes
Brazilian Consumption per Main Industries and Market Share

Consumption Main Industries 2007

Market Share 2007

Rigesa 12% Orsa 10% Trombini 7% Penha 6% So Roberto 4% Adami INPA4%

Chemicals

9%

Food / Beverages 38%

Klabin 20%

Fruits 6%

Others 47%

4% Ibria 3% Others 34%

Source: ABPO
45

Corrugated Boxes
Brazilian shipments
Thousand tonnes
210

200

190

180

187 179 176 157 180 182

189

170

160

150

140 Jan- May- Sep- Jan- May- Sep- Jan- May- Sep- Jan- May- Sep- Jan- May- Sep- Jan- May- Sep- Jan- May02 02 02 03 03 03 04 04 04 05 05 05 06 06 06 07 07 07 08 08

Shipments
Source: ABPO

Annual Average

46

Financial Performance

47

Income Statement
Consolidated

R$ Million Volume (1,000 tonnes) Net Revenue Gross Profit Gross Margin Total Operating Expenses Operating Profit (before fin Results) Net Financial (Expenses)/Revenue Net Income (loss)

2005 1.377 2.706 1.025 38% (516) 356 (154) 309

2006 1.393 2.713 963 35% (497) 598 132 473

2007 1.437 2.796 953 34% (455) 842 345 621

1H07 737 1.405 514 37% (232) 282 208 372

1H08 798 1.521 427 28% (239) 187 163 252

2Q08 412 780 198 25% (123) 75 174 175

48

Financial Highlights
Consolidated

R$ Million EBITDA EBITDA Margin EBIT EBIT Margin Total Assets Net Debt Equity Minority Interest Total Captalization Net Debt / Capitalization

2005 755 28% 509 19% 4.696 319 2.245 97 2.661 12%

2006 709 26% 466 17% 6.123 702 2.461 112 3.385 21%

2007 741 27% 498 18% 7.806 2.007 2.741 128 4.997 40%

1H07 403 29% 282 20% 7.205 1.336 2.785 115 4.235 32%

1H08 384 25% 187 12% 8.124 2.272 2.993 136 5.401 42%

49

Klabin's Performance 2Q08

Volume and Net Revenue growing Sales Volume
1,000 tonnes

Net Revenue
R$ million

412

386

378

780

740

715

2Q08

1Q08
Does not include wood

2Q07

2Q08

1Q08
Includes wood

2Q07

50

Performance 2Q08
Per Market

Sales Volume

Net Revenue

Domestic Market 63% Exports 24%

Domestic Market 76%

Exports 37% Does not include wood Includes wood

412 thousand tonnes

R$ 1405 million 780 million

51

Performance 2Q08
Per Product

Sales Volume
Industrial Bags 8% Others 2% Kraftliner 28% Industrial Bags 13% Others 2%

Net Revenue
Wood 7% Kraftliner 16%

Coated Boards 30%

Corrugated Boxes 30%

Coated Boards 32% Does not include wood

Corrugated Boxes 32% Includes wood

412 thousand tonnes

R$ 780 million

52

Exports Destination 1H08

Sales Volume
North America 5% Africa 9% Asia 15% Latin America 43% Africa 7%

Net Revenue
North America 6%

Latin America 46%

Asia 16%

Europe 28%

Europe 25%

314 thousand tonnes

US$ 233 million

53

EBITDA
2Q08 EBITDA Margin of 23%

29% 26% 25% 24%

29%

28%

28%

28% 21% 23% 205 179 138

203 186 169 170 184

200

200

1Q06

2Q06

3Q06

4Q06

1Q07

2Q07

3Q07

4Q07

1Q08

2Q08

EBITDA - R$ million

EBITDA Margin

54

Financial Ratios
Klabin & Comps

USA NET SALES (mm USD) EBITDA (mm USD) EBITDA Margin (%) Net Income (mm USD) Net Margin(%) Projected EPS Growth P/E 2008 P/E 2009 21,890 2,740 12.5% 1,168 5.3% 2.0 13.9 10.9

Brazil 1,444 363 26.5% 304 22.2% 0.1 13.6 13.0

USA 6,906 920 13.3% 285 4.1% 0.2 25.4 19.0

USA 2,316 441 19.0% 170 7.3% 0.4 16.5 14.1

Finland 18,332 1,934 10.9% 96 0.5% 0.4 20.0 15.6

Finland 13,755 2,055 15.4% 108 0.8% 0.8 16.7 14.4

So u r ce: Blo o m b er g , Reu t er s, Yah o o ! Fin an ce, Go og le Fin an ce, Co m p an ies

Highest margins + Lowest multiples + New plant start-up = Highest margins + Lowest multiples + New plant start-up = Upside Opportunity Upside Opportunity
55

Capex and Net Debt

MA-1100 Project: Final phase of implementation Capex
R$ million

Net Debt
R$ million

2,272 2,007

1,914 1,354
702
2.7x EBITDA 3.1x EBITDA

836 524 307

2006 2007 1H08

750 322
2008E

1.0x EBITDA
2006 2007 1H08

Capex

MA 1100
56

Debt Amortization Schedule - 30/06/08

Low debt repayment in 2008
2,093
ST: 5%

R$ 4,365 Million
LT: 95%

Average Debt Maturity Average Annual Cost Local Foreign Total 47 months 59 months 52 months 10.5% 5.1%

618 408 45
Cash Foreign Currency Local Currency 58 2.035 3Q08 28 17

710 579

740 515

724

27
4Q08 13 14

72
2008 41 31 2009 41 367 2010 172 446 2011 271 308 2012 417 293 2013 471 269 2014 247 268 After 2015 340 384

57

Participation of Local and Foreign Debt - 30/06/08

Balanced local and foreign currency debt Local Currency (54%)
BNDES 79%

Foreign Currency (46%)

Trade Finance 72%

Others 28%

Other 21%

58

Net Income and Dividends

R$ million
6.0%* 6.1%*
621

3.5%*

473

309 231 172

293

2005

2006

Net Income

Declared Dividends

2007 * Dividend Yield

59

Shares Performance at Bovespa

Market capitalization and daily trading volume
US$ million US$ billion

10,0

3,7 3,5 3,2

4,0

3,6 3,4 3,2 3,1 3,0

3,5

3,6 3,4
3,5

8,0

3,0 2,8
7,1

3,1 2,7
6,9 6,4 6,2 5,5 5,6 5,4

3,0

2,6
2,5 5,7 5,0 4,4 4,4 4,4 2,0

6,0

2,2

2,2
5,8 5,0

5,5

4,0 4,0 3,6

4,3

1,5

1,0 2,0 0,5

0,0
Jan-07 Feb-07 Mar -07 Apr-07 May-07 Jun-07 Jul- 07 Aug-07 Sep- 07 Oct -07 Nov-07 Dec-08 Jan-08 Feb-08 Mar-08 Apr- 08 May-08 Jun-08

0,0 Daily Trading Volum e Market Capitalization

60

Expansion of Coated Boards

61

MA 1100 Project

Brownfield Project Progressive start up of equipments New board machine moving forward along the industrial and commercial learning curves Start up of the new power boiler (Biomass)
Completed the energy source of the Monte Alegre mill 70% of electric energy consumption provided by self-generation

Reduction of variable costs Fixed cost does not grow by the same amount of the capacity expansion

62

Paper Machine #9
PM9 average daily production evolution
Forecast 2008 = 280,000 tonnes Forecast 2008 = 280,000 tonnes
823 756 620

1,000 tonnes/day

792

756

791

368

386

198

b' 08

'0 7

N ov '0 7

'0 8

08

Ap r'0

ec '0

n' 0

ar '0

Ju n'

Fr om

Average Daily Production (tonnes)

20 09
Nominal Capacity 63

on w ar

Fe

Ja

ay

ct

ds

Electrical Energy
Reduced dependence on purchased energy 65% of electric energy self-sufficiency
Biomass 38%

70% of electric energy self-sufficiency

After MA-1100 MA-

Biomass 55%

85 MWh

150 MWh

HidroElectric 27%

Purchased E.Energy 35%

HidroElectric 15%

Purchased E.Energy 30%

64

Future

65

Growth Strategy
Increase production capacity from 2.0 million tpy to 3.0 million tpy by 2012 Turbo Generator Boiler R$ 2.2 billion investments concluded to reach 2.0 million tonnes capacity Financial discipline Value creation Future Cost reduction and higher productivity To prepare Klabin for the next growth cycle

4
Expansion program

3
Improving efficiencies Maturation of MA-1100 project

Solid Growth Prospects

66

New Structure

CEO

Auditing

Human Resources

Legal

Communication & Social Responsibility

CFO & IR Officer

Planning & Control

Projects, Indl. Tech. & Procurement

COO

Executive Board

BU Klabin Forestry

BU Klabin Paper

BU Klabin Packaging

BU Klabin Industrial Bags

67

Future
3.0 Million tonnes/year

Feasibility studies for the capacity increase and modernization projects are under review, aiming to achieve higher profitability Capacity increase to 3 million tonnes by 2012 Cost reduction and higher productivity

68

Creating Value and Growing

IR Contact Phone: (55 11) 3046-8404 / 8415 / 8416 www.klabin.com.br invest@klabin.com.br 69