Company: SUZ
Filing Date: 2025-09-02
Form Type: 424B2
Source: 0001104659-25-086037
Chunk: 35

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 424B2
Chunk 35
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 be deemed modified as necessary to permit such compliance.

We are only required to offer
to repurchase the Notes in the event that a Change of Control results in a Rating Decline for such series and such Rating Decline must
be expressly attributed by the rating agency to a change in control. Consequently, if a Change of Control were to occur which does not
result in a Rating Decline, Suzano Netherlands would not be required to offer to repurchase the Notes. In addition, Suzano Netherlands
will not be required to make an Offer to Purchase upon a Change of Control if (1) a third party makes the Offer to Purchase in the
manner, at the times and otherwise in compliance with the requirements set forth in the indenture applicable to an Offer to Purchase made
by Suzano Netherlands and purchases all Notes properly tendered and not withdrawn under the Offer to Purchase, or (2) notice of redemption
for all outstanding Notes has been given pursuant to the indenture as described above under the caption “—Optional Redemption,”
unless and until there is a default in payment of the applicable redemption price.

Notwithstanding anything to
the contrary contained herein, an Offer to Purchase may be made in advance of a Change of Control, conditioned upon the consummation of
such Change of Control, if a definitive agreement is in place for the Change of Control at the time the Offer to Purchase is made.

Certain existing and/or future
Debt of Suzano Netherlands may provide that a Change of Control is a default or require repurchase upon a Change of Control. Moreover,
the exercise by the noteholders of their right to require Suzano Netherlands to purchase the Notes could cause a default under other debt,
even if the Change of Control itself does not, due to the financial effect of the purchase on Suzano Netherlands. In addition, any remittance
of funds outside of Brazil to noteholders or the Trustee may require the consent of the Central Bank, which may not be granted. Our ability
to pay cash to the noteholders following the occurrence of a Change of Control may be limited by Suzano Netherlands’ then existing
financial resources. There can be no assurance that sufficient funds will be available when necessary to make the required purchase of
the Notes.

Except as described above
with respect to a Change of Control, the indenture will not contain provisions that permit the holder of the Notes to require that Suzano
Netherlands purchase or redeem the Notes in the event of a takeover, recapitalization or