Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 46

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 46
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 defined below) may become subject to Dutch withholding
tax at a rate of 25.8% (rate for 2025), if such affiliated entity:

| · | is                                                                                               
 considered to be resident (gevestigd) in a jurisdiction that is listed in the yearly             
 updated Dutch regulation on low-taxing states and non-cooperative jurisdictions for tax purposes 
 (Regeling laagbelastende staten en niet-coöperatieve rechtsgebieden voor belastingdoeleinden)    
 (a "Listed Jurisdiction"); or                                                                    |

| · | has                                                                                      
 a permanent establishment located in a Listed Jurisdiction to which the interest payment 
 is attributable; or                                                                      |

| · | is                                                                                             
 entitled to the interest payment with the main purpose or one of the main purposes of avoiding 
 taxation for another person or entity and there is an artificial arrangement or transaction    
 or a series of artificial arrangements or transactions; or                                     |

| · | is                                                                                          
 not considered to be the recipient of the interest in its jurisdiction of residence because 
 such jurisdiction treats another entity as the recipient of the interest (a                 
 hybrid mismatch); or                                                                        |

| · | is                                                            
 not resident in any jurisdiction (also a hybrid mismatch); or |

| · | is                                                                                           
 a reverse hybrid (within the meaning of Article 2(12) of the Dutch Corporate Income          
 Tax Act; Wet op de vennootschapsbelasting 1969), if and to the extent (x) there              
 is a participant in the reverse hybrid holding a Qualifying Interest in the reverse hybrid,  
 (y) the jurisdiction of residence of the participant holding the Qualifying Interest         
 in the reverse hybrid treats the reverse hybrid as transparent for tax purposes and (z) such 
 participant would have been subject to Dutch withholding tax in respect of the payments of   
 interest without the interposition of the reverse hybrid;                                    |

all within the meaning of
the Dutch Withholding Tax Act 2021.

Affiliated entity

For purposes of the Dutch Withholding Tax Act 2021, an entity is considered an “affiliated entity” in respect ofthe Issuer
if:

| · | such                                                                  
 entity has a Qualifying Interest (as defined below) in the Issuer; or |

| · | the                                                 
 Issuer has a Qualifying Interest in such entity; or |

| · | a                                                                         
 third party has a Qualifying Interest in both the Issuer and such entity. |

The term "Qualifying