Company: SUZ
Filing Date: 2025-05-01
Form Type: F-3ASR
Source: 0001104659-25-042824
Chunk: 28

Company: Suzano S.A.
Filing Date: 2025-05-01
Form: F-3ASR
Chunk 28
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The provisions under the applicable indentures
relating to Suzano Austria’s or Suzano Netherlands’s obligation to make an offer to repurchase the debt securities as a result
of a Change of Control may be waived or amended as described in “—Modification and Waiver.”

Substitution of the Issuer

Without the consent of any holders of debt securities
(and, by purchasing any debt securities, each holder expressly consents to the provisions of this section), Suzano or any Wholly Owned
Subsidiary of Suzano may, at any time and in Suzano’s sole discretion, replace Suzano Austria or Suzano Netherlands, as the case
may be, as issuer and principal debtor in respect of any series of debt securities issued by Suzano Austria or Suzano Netherlands, provided
that Suzano, the successor issuer (if a Wholly Owned Subsidiary of Suzano) and the trustee enter into a supplemental indenture under which
(i) the successor issuer assumes all of the obligations of Suzano Austria or Suzano Netherlands, as the case may be, under such debt
securities and, unless the successor issuer is Suzano, Suzano reaffirms that its existing guarantee remains in full force and effect,
and (ii) the successor issuer agrees to a covenant in terms corresponding to the obligations of Suzano Austria or Suzano Netherlands,
as the case may be, in respect of the payment of additional amounts as described under “— Payment of Additional Amounts”
(but replacing references to Austria or the Netherlands with references to the jurisdiction of organization of the successor issuer, as
applicable). The successor issuer will have the right to an effect the optional redemption for tax reasons as described above under “—
Optional Tax Redemption” or provided for in the prospectus supplement.

Upon a substitution of Suzano Austria or Suzano
Netherlands, as the case may be, as issuer as described hereunder, the successor issuer will succeed to, and may exercise every right
and power of, Suzano Austria or Suzano Netherlands, as the case may be, under the relevant series of debt securities under the applicable
indenture with the same effect as if such successor issuer had been named as the issuer under the applicable indenture and the debt securities,
and Suzano Austria or Suzano Netherlands, as the case may be, will be released from its liability as obligor upon such debt securities.
Any such substitution might be treated for U.S. federal income tax purposes as a deemed disposition of debt securities by a