Company: SUZ
Filing Date: 2025-05-01
Form Type: F-3ASR
Source: 0001104659-25-042824
Chunk: 24

Company: Suzano S.A.
Filing Date: 2025-05-01
Form: F-3ASR
Chunk 24
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 Austria or Suzano Netherlands, ranking pari passu, without any preferences among themselves, with all of its
other present and future unsecured and unsubordinated obligations (other than obligations preferred by statute or by operation of law),
except to the extent any such other Debt ranks above such obligations by reason of Liens permitted under the covenant described under
“—Limitation on Liens.”

Limitation on Liens

Unless otherwise specified in the applicable prospectus
supplement, Suzano will not, and will not permit any Subsidiary to, directly or indirectly, incur or permit to exist any Lien securing
the payment of Debt on any of its properties or assets, whether owned at the Issue Date or thereafter acquired, other than Permitted Liens,
without effectively providing that the debt securities or the debt securities guarantees, as applicable, are secured equally and ratably
with (or, if the obligation to be secured by the Lien is subordinated in right of payment to the debt securities or any debt securities
guarantees, prior to) the obligations so secured for so long as such obligations are so secured.

Consolidation, Merger or Sale of Substantially All Assets

Unless otherwise specified in the applicable prospectus
supplement, each of Suzano, Suzano Austria and Suzano Netherlands will covenant that it will not consolidate with or merge with or into,
or convey, transfer or lease all or substantially all of its assets (determined on a consolidated basis) to, any person, without the consent
of the holders of a majority in aggregate principal amount of the debt securities outstanding under the applicable indenture, unless:

| · | the person formed by such consolidation or into which Suzano, Suzano Austria and Suzano Netherlands, as the case may be, is merged           
 into (if other than Suzano, Suzano Austria and Suzano Netherlands, as the case may be) or the person that acquires by conveyance, transfer   
 or lease all or substantially all of the properties or assets of Suzano, Suzano Austria and Suzano Netherlands, as the case may be, which    
 we refer to as the “successor person,” will expressly assume, by a supplemental indenture to the applicable indenture,                       
 all obligations of Suzano, Suzano Austria and Suzano Netherlands, as the case may be, under the applicable indenture and the debt securities 
 or guarantee, as applicable, issued under that indenture;                                                                                    |

| · | immediately after giving effect to such