Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 116

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 116
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 either generally
or under specific contingencies.

“” means any mortgage,
pledge, usufruct, 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