3Q10 Results Conference Call

November 11, 2010

Disclaimer

The information contained in this presentation may include statements which constitute forward-looking statements, as defined by Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve a certain degree of risk and uncertainty with respect to business, financial, trend, strategy and other forecasts, and are based on assumptions, data or methods that, although considered reasonable by the company at the time, may be incorrect or imprecise, or may not be possible to realize. The company gives no assurance that expectations disclosed in this presentation will be confirmed. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements, due to a variety of factors, including, but not limited to, the risks of international business and other risks referred to in the companys filings with the CVM and SEC. The company does not undertake, and specifically disclaims any obligation to update any forward-looking statements, which are valid only for the date on which they are made.

Agenda

3Q10 Results

4 5 6 7 8

Debt

Synergies

Sustainability

Fibria's 1st Year

3Q10 Performance
Key Indicators
3Q10 Pulp Production (000 t) Pulp Sales (000 t) Paper Production (000 t) Paper Sales (000 t) 1,334 1,195 79 105 2Q10 1,208 1,253 79 87 3Q09 1,428 1,276 93 110 3Q10 vs 2Q10 10% -5% 20% 3Q10 vs 3Q09 -7% -6% -15% -5%

Pulp Sales Mix

3Q09 11% 30% 24% 37%

2Q10 11% 38% 20%

3Q10 12% 41%

Net Revenue (R$ million) Adjusted EBITDA (R$ million) EBITDA Margin (%) Financ. Income (R$ million) Net Income (R$ million)

1,797 717 40% 249 303

1,809 730 40% (315) 130

1,402 426 30% 568 368

-1% -2% 133%

28% 68% 10 p.p. -56% -18%

22%

27% North America Asia

27%

Europe

Brazil/Others

Cash Cost (R$/t)

499 465 449 418 435

EBITDA (R$ million) and EBITDA Margin (%)

40% 30% 730 717 40%

426

3Q09 1Q10
Source: Fibria

2Q10

3Q10

2Q10

2Q10 w/ downtimes

3Q10

3Q10 w/ downtimes

Debt
Debt Indicators
Average Maturity(2) (months)
75

(R$ million)

3Q10

2Q10

3Q09

3Q10 vs 2QT10 -7% -8% -7%

3Q10 vs 3Q09 -20%

Net Debt / EBITDA(3) (x)

7,2

Gross Debt Cash(1) Net Debt

12,296 2,184 10,112

13,209 2,364 10,846

15,406 2,594 12,812

70 52

-16% -21% 3Q09 2Q10 3Q10 Sep 09

4,7 3,9

Jun 10
(3) LTM

Sep 10

(1) Includes

derivatives at fair value (R$60 million)

(2) Does

not include debt with former Aracruz shareholders

EBITDA

Debt Amortization Schedule (R$ billion)

6.4

Debt by Currency and Instrument

Gross debt by currency Gross debt by type

Short term debt: 4.3 from 30% in Sept/09 to 19% in Sept/10

5%
2.8 2.0 1.4 0.8 0.4 0.6 1.5 0.8 1.6 1.0 1.1 1.1 2.2

6% 36%

26%

14%

11% 74% 28%

2009

2010

2011

2012

2013
(4)

2014

2015

2016-2020

Sep 09
(4)Amortization

Sep 10

(5)

Local

Foreign

Pre-payment Former Aracruz shareholders NCE

Bonds BNDES Others

schedule in Sept/2009 (5)Amortization schedule in Sept/2010

Synergies
Net Present Value of Synergies (R$ billion)

Other Supply chain

2% 21% 27% Industrial

Taxes

11% 16%
SG&A

23%
Forest

3Q10 status: 117% of the projected curve for 2010

4.2 3.4 2.4 2.0 0.5 0.5

Dec/09 9M10 Dec/10 2011
Estimated Actual

4.3

4.5

2.3

2012

2013

2014

Sustainability
Fibria included on the Dow Jones Sustainability Index

Just three companies from the Forestry & Paper industry were included on the index Fibria, StoraEnso and UPM;

DJSI World Index evaluates best global corporate sustainability practices;

Integrated evaluation of environmental, social and economic criteria, focusing on long-term value generation for shareholders;

More than 2,500 companies from 58 industries around the world were assessed.

Fibria's 1st Year

Operating Excellence

Financial Turnaround

- Achievement of Trs Lagoas Unit

learning curve

- EBITDA margin increased to 40% - One of the lowest cash costs in the industry:
US$249/t

- Synergies: R$2.4 billion (NPV) captured - Personnel, system and process integration

Liquidity event: Guaba Unit sale Access to capital markets Early settlement of derivatives debt Reduced leverage Extended debt maturities

Corporate Governance

Expansion

Migration to Novo Mercado segment Corporate Governance, Information Disclosure and Securities Trading policies approved by the Board Adoption of international accounting practices (IFRS) Included in the DJSI and ISI sustainability indexes Best IR program in the sector in Latin America by Institutional Investor Magazine 2010

Trs Lagoas II: start up slated for 2014 Veracel II: Negotiations with partner in progress

Investor Relations Team: Website: www.fibria.com.br/ir E-mail: ir@fibria.com.br Tel.: +55 (11) 2138-4565