RIOPRIMA PARTICIPAÇÕES S.A. Appraisal of Book Net Worth, on October 30, 2013, for purposes of its merger into KLABIN S.A.

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1 RIOPRIMA PARTICIPAÇÕES S.A. Appraisal of Book Net Worth, on October 30, 2013, for purposes of its merger into KLABIN S.A Appraisal Report

2 APPRAISAL REPORT LORENZO & ASSOCIADOS LTDA., with its principal place of business at Rua Faustolo No , conj. 123B, in São Paulo SP, a company duly registered with the Regional Accounting Council of the State of São Paulo [Conselho Regional de Contabilidade do Estado de São Paulo] under No. 2SP021256/O-0 and enrolled in the National Register of Legal Entities of the Ministry of Finance (CNPJ/MF) under No / , and acts of incorporation filed at the 4 th Registry of Deeds and Documents and Corporate Civil Registry [4 Ofício do Registro de Títulos e Documentos e Civil de Pessoas Jurídicas] of this capital with microfilm No , on January 14, 2000, herein represented by its quotaholder, Izilda Lorenzo, accountant, registered with the Regional Accounting Council of the State of São Paulo No. 1SP127441/O-0 and enrolled in Individual Taxpayers Register of the Ministry of Finance (CPF/MF) under No , having been requested by the company: KLABIN S.A., a company with its principal place of business in São Paulo - SP, at Av. Brig. Faria Lima No andar, enrolled in the CNPJ/MF under No / , with its acts of incorporation duly filed at the Commercial Registry of the State of São Paulo, with State Registration (NIRE) No , on November 12, 2001, to proceed with the appraisal of the book net worth, as of October 30, 2013, of the company: RIOPRIMA PARTICIPAÇÕES S.A., a company with its principal place of business in São Paulo SP, at Av. Brigadeiro Faria Lima No , 4th floor, office 44, enrolled in the CNPJ/MF under No / , with its acts of incorporation duly filed at the Commercial Registry of the State of São Paulo under NIRE No , on May 19, 2003, for purposes of its merger into KLABIN S.A., hereby presents the result of its work substantiated in this report. I PURPOSE OF APPRAISAL The purpose of the work was to determine the book net worth, on October 30, 2013, of the company RIOPRIMA PARTICIPAÇÕES S.A., for purposes of its merger into the company KLABIN S.A. II APPRAISAL CRITERION The calculation of the book net worth was made based on the balance sheet prepared by RIOPRIMA PARTICIPAÇÕEES S.A., on October 30, 2013, in accordance with the accounting entries of the company. The accounting entries, which were used as a basis for this appraisal, were not audited by us. III STATEMENT

3 The quotaholders of Lorenzo & Associados Ltda. declare not to hold any interest, whether direct or indirect, in the company or in the merger transaction for which the services were hired, as well as any other relevant circumstance that may characterize a conflict of interests. They further declare that the managers of the company did not direct, limit, hinder or practice any acts that could adversely affect the access, use or knowledge of information, assets, documents or work methodologies relevant for the quality of the conclusion of this report. IV CONCLUSION Based on the criteria described and on the calculations demonstrated herein, prepared based on the balance sheet as of October 30, 2013, which was provided to us and is attached hereto (Exhibit A), in our opinion the book net worth of company RIOPRIMA PARTICIPAÇÕES S.A., on October 30, 2013 is one hundred and forty-four million, nine hundred and four thousand and six hundred and sixty-two Reais and fifty-one centavos (R$ 144,904,662.51). São Paulo, October 30, LORENZO & ASSOCIADOS LTDA. Regional Accounting Council (CRC) 2SP021256/O-0 [signature]izilda Lorenzo Partner Accountant CRC 1SP127441/O-0

4 CALCULATION OF THE BOOK NET WORTH According to the Balance Sheet attached hereto, the elements of the assets and liabilities that compose the Net Worth of the company RIOPRIMA PARTICIPAÇÕES S.A., on October 30, 2013, are the following: R$ ASSETS Current Bank account transactions 1, Non-current assets Investments Interest in companies 24,699,654 common shares issued by Klabin S.A. 144,903, Total Assets 144,904, NET WORTH 144,904, (one hundred and forty-four million, nine hundred and four thousand and six hundred and sixty-two Reais and fifty-one centavos).

5 RIOPRIMA PARTICIPAÇÕES S.A. CNPJ/MF No / EXHIBIT A BALANCE SHEET AS OF OCTOBER 30, 2013 ASSETS R$ CURRENT ASSETS 1, Bank account transactions 1, NON-CURRENT ASSETS Investments 144,903, Interest in Companies - Klabin S.A. 144,903, TOTAL ASSETS 144,904, LIABILITIES R$ NET WORTH Share Capital 72,299, Revaluation Reserve - Klabin S.A. 1,330, Equity Evaluation Adjustment - Klabin S.A. 28,793, Profit Reserve - Klabin S.A. 42,480, ,904, TOTAL LIABILITIES 144,904, I acknowledge the accuracy of this Balance Sheet of Rioprima Participações S.A., on October 30, 2013, with assets and liabilities totaling one hundred and forty-four million, nine hundred and four thousand and six hundred and sixty-two Reais and fifty-one centavos (R$ 144,904,662.51). [signature] Angel Tavares Núñez TC-CRC-1SP157878/O-3

PROTOCOL AND JUSTIFICATION OF MERGER OF TOTVS BRASIL SALES LTDA. BY TOTVS S.A.

PROTOCOL AND JUSTIFICATION OF MERGER OF TOTVS BRASIL SALES LTDA. BY TOTVS S.A. By this private instrument, (A) TOTVS S.A., a publicly-held corporation, with head office in the City of São Paulo, State