Company: SUZ
Filing Date: 2025-05-01
Form Type: F-3ASR
Source: 0001104659-25-042824
Chunk: 39

Company: Suzano S.A.
Filing Date: 2025-05-01
Form: F-3ASR
Chunk 39
---
fruct, fiduciary transfer (alienação fiduciária), charge, encumbrance, lien or other security interest,
or any preferential arrangement (including a securitization) that has the practical effect of creating a security interest.

“” means,
as to any Person, any Subsidiary of such Person which, on any given date of determination, accounts for more than 15% of such Person’s
total consolidated assets, as such total assets are set forth on the most recent consolidated financial statements of such Person prepared
in accordance with Reporting GAAP.

“” means (a) David
Feffer, Daniel Feffer, Jorge Feffer and Ruben Feffer, as well as any of their respective heirs, or (b) an entity that is directly
or indirectly controlled by one or more of the Persons listed in clause (a) above.

“” means:

| (1) | any Lien existing on the date of the applicable indenture; |

| (2) | any Lien on any property or assets (including Capital Stock of any person) securing Debt incurred solely for purposes of financing        
 the acquisition, construction or improvement of such property or assets after the date of the applicable indenture; provided that (a) the 
 aggregate principal amount of Debt secured by the Liens will not exceed (but may be less than) 130% of the cost (i.e., purchase price)    
 of the property or assets so acquired, constructed or improved and (b) the Lien is incurred before, or within 365 days after the          
 completion of, such acquisition, construction or improvement and does not encumber any other property or assets of Suzano or any of its   
 Subsidiaries; and provided, further, that to the extent that the property or asset acquired is Capital Stock, the Lien also may encumber  
 other property or assets of the person so acquired;                                                                                       |

| (3) | any Lien securing Debt incurred for the purpose of financing all or part of the cost of the acquisition, construction or development      
 of a project; provided that the lenders of such Debt expressly agree to limit their recourse in respect of such Debt to assets (including 
 Capital Stock of the project entity) and/or revenues of such project with an aggregate value of not more than the amount of such Debt;    
 and provided, further, that the Lien is incurred before, or within 365 days after the completion of, that acquisition, construction or    
 development and