Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 138

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 138
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 basis in light of the specific facts of the relevant case, and it cannot be ruled out that future court rulings
may not further limit the access of creditors and/or shareholders to assets of subsidiaries constituted in the form of a corporation.

Austrian Insolvency Law

Suzano Austria is incorporated under the laws of Austria; thus, a rebuttable presumption exists that such entity also has its respective “centre of main interests” in Austria. In the event of an insolvency of a company having its “centre of main interests” in Austria, insolvency proceedings may be initiated in Austria. Such proceedings will be governed by Austrian law (for example, if the “centre of main interests” of such company is within Austria or if such company has an “establishment” in the territory of Austria or, where the E.U. Insolvency Regulation (Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings(recast) (the “E.U. Insolvency Regulation”)) does not apply, if such company has assets
in Austria). Under certain circumstances, insolvency proceedings may also be opened in Austria in accordance with Austrian law with respect
to the assets of companies that are not organized under Austrian law.

The following is a brief description of certain
aspects of Austrian insolvency law. The law relating to insolvency is regulated by the Austrian Insolvency Act (Insolvenzordnung)
(the “AIA”).

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Insolvency proceedings (Insolvenzverfahren)
are opened by a court in the event that the debtor is insolvent (zahlungsunfähig) (i.e., unable to pay its debts as and when
they fall due) or over-indebted within the meaning of the AIA (überschuldet) (i.e., its liabilities exceed the value of its
assets (evaluated on the basis of its estimated liquidation value) in combination with a negative prognosis on its ability to continue
as a going concern (negative Fortbestehensprognose)). Under Austrian law, insolvency proceedings may be initiated either by the
(insolvent) company or a creditor by filing an application to that effect with a court of competent jurisdiction. If the requirements
for the opening of insolvency proceedings are met (insolvency or over-indebtedness), the (insolvent) company must apply for the opening
of insolvency proceedings without