Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 50

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 50
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 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 person not holding 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 12 months preceding the date of the gift.

<div align='center'>S-35</div>

Other Taxes and Duties

No other Dutch taxes, including value-added tax (VAT) and taxes of a documentary nature, such as capital tax, stamp or registration tax or duty, are payable by or on behalf of a holder of the Notes in the Netherlands by reason only of the purchase, ownership and
disposal of the Notes.

The Proposed Financial Transactions Tax

On 14 February 2013,
the European Commission published a proposal, for