Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 21

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 21
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 10.85794 |   |     |      |  17.57724 |   |
| Diluted                                                 |     |                               |  1.67585 |   |     |      |          9.14526 |   |     |      |  (2.76777 | ) |     |                             |   |     |                  |  (5.59313 | ) |     |      |  10.85387 |   |     |      |  17.57305 |   |

| (1) | Solely for the convenience of the reader, amounts in reais have been                                
 translated for convenience only to U.S. dollars at an exchange rate of R$5.4571 per US$ 1.00, which 
 was the commercial selling rate for U.S. dollars in effect on June 30, 2025, as reported by the     
 Central Bank of Brazil                                                                              |

<div align='center'>S-16

Special Note Regarding Non-IFRS Financial Measure</div>

Our management uses certain
non-IFRS measures as an additional measure of operational performance of our business. A non-IFRS financial measure is any financial
measure that is presented other than in accordance with all relevant IFRS Accounting Standards. We disclose our EBITDA and Adjusted EBITDA
in this prospectus supplement, which are considered to be non-IFRS financial measures. EBITDA is calculated as Net income (loss) plus
Net financial result, Income and social contribution taxes, and Depreciation, amortization and depletion. Our Adjusted EBITDA is
defined as EBITDA as further adjusted to add or exclude the following items, as specifically indicated in the table further below:

(i) Exceptional adjustments,
such as penalties for termination of a specific barge contract with Norsul; and

(ii) Other non-cash
adjustments or specific adjustments that by their nature and scope, do not reflect our operational performance for the specific period,
in our management’s view. This includes (a) Fair Value Update - Biological Asset, (b) results from sale and disposal
of property, plant and equipment and biological assets, (c) Accrual (reversal) of losses on ICMS credits, and (d) other items
indicated in the table below.

The non-IFRS financial measures
described in this prospectus supplement are not a substitute for the IFRS Accounting Standards measures of net