Company: SUZ
Filing Date: 2025-09-02
Form Type: 424B2
Source: 0001104659-25-086037
Chunk: 103

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 424B2
Chunk 103
---
 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 transaction, no Event of Default with respect to any debt security issued under the applicable 
 indenture will have occurred and be continuing; and                                                                                    |

| · | Suzano, Suzano Austria or Suzano Netherlands, as the case may be, has delivered to the trustee under the applicable indenture: |

| o | a certificate signed by an executive officer stating that such consolidation, merger, conveyance, transfer or lease complies with 
 this covenant and that all relevant conditions precedent provided in the applicable indenture have been complied with; and        |

| o | an opinion of counsel stating that such consolidation, merger, conveyance, transfer or lease complies with this covenant and that 
 all relevant conditions precedent provided in the applicable indenture have been complied with.                                   |

Upon any consolidation, merger, conveyance or transfer in accordance with these conditions, the successor person will succeed to, and be substituted for, and may exercise every right and power of,Suzano, Suz