Company: SUZ
Filing Date: 2025-05-01
Form Type: F-3ASR
Source: 0001104659-25-042824
Chunk: 42

Company: Suzano S.A.
Filing Date: 2025-05-01
Form: F-3ASR
Chunk 42
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 Subsidiaries securing the obligations of such Person under any line of credit 
 or working capital facility or other credit facility; provided that the aggregate amount of receivables securing Debt shall not    
 exceed 80% of Suzano’s and its Subsidiaries’ aggregate outstanding receivables from time to time;                                  |

| (15) | any encumbrance, security deposit or reserve maintained in the ordinary course of business and required by Applicable Law; |

| (16) | any Lien which arises pursuant to a final judgment(s) that do not constitute an Event of Default; |

| (17) | any Lien securing Debt or other obligations of a Subsidiary                                                                    
 of Suzano, Suzano Austria or Suzano Netherlands owing to Suzano, Suzano Austria or Suzano Netherlands or a Subsidiary thereof; |

| (18) | any Lien on Property or shares of Capital Stock of another Person at the time such other Person becomes a Subsidiary; provided that, 
 such Liens may not (i) extend to any Property owned by such Person other than the Property so acquired, or (ii) have been incurred   
 in connection with or in anticipation of such acquisition;                                                                           |

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| (19) | incurring a joint and several liability (including any netting or rights of set-off) as a result of a fiscal unity (fiscale eenheid) 
 for Dutch tax purposes; and                                                                                                          |

| (20) | in addition to the foregoing Liens set forth in clauses (1) through (19) above, Liens securing Debt of Suzano or any of its Subsidiaries 
 which do not in aggregate principal amount, at any time of determination, exceed 20% of Suzano’s Consolidated Net Tangible Assets        
 (the “General Liens Basket”).                                                                                                            |

“” means any individual,
corporation, partnership, limited liability company, joint venture, trust, unincorporated organization, other entity or any government
or any agency or political subdivision thereof.

“” means the International
Financial Reporting Standards as adopted by the International Accounting Standards Board or any other accounting standard that the Company
may adopt as its primary reporting accounting standard in its reports filed with the Commission pursuant to Section 13 or 15(d) of
the Exchange Act.

“” means that
at any time within 90 days (which period shall be extended so long as the rating