Company: SUZ
Filing Date: 2025-09-02
Form Type: 424B2
Source: 0001104659-25-086037
Chunk: 52

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 424B2
Chunk 52
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 an individual and derives profits from an enterprise, whether as entrepreneur (ondernemer)                            
 or pursuant to a co-entitlement to the net worth of the enterprise, other than as an entrepreneur or a shareholder, which enterprise 
 is, in whole or in part, carried on through a (deemed) permanent establishment (vaste inrichting) or a permanent representative      
 (vaste vertegenwoordiger) that is taxable in the Netherlands, to which the Notes are attributable;                                   |

| (ii) | the holder is an individual and derives benefits from miscellaneous activities                                          
 (overige werkzaamheden) carried out in the Netherlands in respect of the Notes, including without limitation activities 
 which are beyond the scope of active portfolio investment activities; or                                                |

| (iii) | the holder is not an individual and is entitled to a share in                                                                        
 the profits of an enterprise or a co-entitlement to the net worth of an enterprise, which is effectively managed in the Netherlands, 
 other than by way of securities, and to which enterprise the Notes are attributable.                                                 |

Dutch Gift and Inheritance Taxes

No Dutch gift or inheritance taxes are duein respect of any gift of Notes by, or inheritance of the Notes on the death of a holder,
except if:

| (i) | at the time of the gift or death of the holder, the holder is a resident,                                                        
 or is deemed to be a resident, of the Netherlands or the transfer is otherwise construed as a gift or inheritance made by, or on 
 behalf of, a person who, at the time of the gift or death, is or is deemed to be a resident of the Netherlands;                  |

| (ii) | the holder dies within 180 days after the date of the gift of the Notes                                                               
 and is not, or not deemed to be, at the time of the gift, but is, or deemed to be, at the time of his or her death, a resident of the 
 Netherlands; or                                                                                                                       |

| (iii) | the gift of the Notes is made under a condition precedent and the 
 holder is a resident.                                             |

For purposes of Dutch gift
and inheritance taxes, among others, a person that holds Dutch nationality will be deemed to be resident in the Netherlands if such person
has been resident in the Netherlands at any time during the 10 years preceding the date of the gift or his/her death. Additionally, for
purposes of Dutch gift tax, among others, a