Company: SUZ
Filing Date: 2025-09-02
Form Type: 424B2
Source: 0001104659-25-086037
Chunk: 118

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 424B2
Chunk 118
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 of the applicable indenture; |

| (2) | any Lien on any property or assets (including Capital Stock of any person) securing Debt incurred solely for purposes of financing        
 the acquisition, construction or improvement of such property or assets after the date of the applicable indenture; provided that (a) the 
 aggregate principal amount of Debt secured by the Liens will not exceed (but may be less than) 130% of the cost (i.e., purchase price)    
 of the property or assets so acquired, constructed or improved and (b) the Lien is incurred before, or within 365 days after the          
 completion of, such acquisition, construction or improvement and does not encumber any other property or assets of Suzano or any of its   
 Subsidiaries; and provided, further, that to the extent that the property or asset acquired is Capital Stock, the Lien also may encumber  
 other property or assets of the person so acquired;                                                                                       |

| (3) | any Lien securing Debt incurred for the purpose of financing all or part of the cost of the acquisition, construction or development      
 of a project; provided that the lenders of such Debt expressly agree to limit their recourse in respect of such Debt to assets (including 
 Capital Stock of the project entity) and/or revenues of such project with an aggregate value of not more than the amount of such Debt;    
 and provided, further, that the Lien is incurred before, or within 365 days after the completion of, that acquisition, construction or    
 development and does not apply to any other property or assets of Suzano or any Subsidiary;                                               |

| (4) | any Lien extending, renewing or replacing (or successive extensions, renewals or replacements of), in whole or in part, any Lien referred    
 to in items (1), (2), (3) above, and (6) and (7) below; provided that the principal amount of Debt secured thereby shall                     
 not exceed the principal amount of Debt so secured at the time of such extension, renewal or replacement, except for any increase reflecting 
 premiums, fees and expenses in connection with such extension, renewal or replacement;                                                       |

| (5) | any Lien existing on any property or assets of any person before that person’s acquisition (in whole or in part) by, merger     
 into or consolidation with Suzano or any of its Subsidiaries after the date of the applicable indenture; provided that the Lien