Company: SUZ
Filing Date: 2025-05-01
Form Type: F-3ASR
Source: 0001104659-25-042824
Chunk: 59

Company: Suzano S.A.
Filing Date: 2025-05-01
Form: F-3ASR
Chunk 59
---
 judgments will be enforceable.
In addition, it is doubtful whether a Dutch court would accept jurisdiction and impose civil liability in an original action commenced
in the Netherlands and predicated solely upon U.S. federal securities laws.

Any enforcement of agreements governed by foreign
law and any foreign judgments in the Netherlands will be subject to the rules of Dutch civil procedure. Judgments may be rendered
in a foreign currency, but enforcement is executed in euro at the applicable rate of exchange. Enforcement of obligations in the Netherlands
will be subject to the nature of the remedies available in the courts of the Netherlands. Under certain circumstances, a Dutch court has
the power to stay proceedings (aanhouden) or to declare that it has no jurisdiction, if concurrent proceedings are being brought
elsewhere.

A Dutch court may reduce the amount of damages
granted by a U.S. court and recognize damages only to the extent that they are necessary to compensate actual losses and damages.

<div align='center'>39

LIMITATIONS BY AUSTRIAN CAPITAL MAINTENANCE RULES AND CERTAIN INSOLVENCY LAW CONSIDERATIONS</div>

Austrian Capital Maintenance Rules

The issue and sale of debt securities by Suzano
Austria (the “Austrian Debt Securities”) may be subject to Austrian capital maintenance rules (Kapitalerhaltungsvorschriften)
pursuant to Austrian corporate law, in particular Section 82 of the Austrian Act on Limited Liability Companies (Gesetz über Gesellschaften mit beschränkter Haftung or GmbHG), if Suzano Austria transfers the net proceeds from the sale of Austrian
Debt Securities to Suzano S.A. or any of its affiliates, in particular to repay Suzano S.A.’s or any other group company’s
indebtedness (except for downstream payments).

The GmbHG prohibits an Austrian limited liability
company from returning equity to its shareholders (Verbot der Einlagenrückgewähr) in circumstances other than as a distribution
of balance sheet profits (if, to the extent and as long as available for distribution under Austrian law), by a reduction of share capital
or as liquidation surplus on liquidation of that corporation. The provisions on the prohibition to repay capital also cover benefits granted
by an Austrian limited liability company to its direct or indirect shareholders or other members of the group of companies (side-stream
or upstream) where no “adequate consideration” is received in return or no special corporate benefit of the company from