Company: SUZ
Filing Date: 2025-05-01
Form Type: F-3ASR
Source: 0001104659-25-042824
Chunk: 64

Company: Suzano S.A.
Filing Date: 2025-05-01
Form: F-3ASR
Chunk 64
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 creditor will be entitled to participate in the insolvency proceedings and the
pro rata distribution to unsecured creditors that will follow. If a creditor’s claim is contested by the insolvency administrator,
the creditor will have to seek enforcement of its claim in civil proceedings and only then participate in the insolvency proceedings.

Claims of unsecured creditors which were created
before the opening of the insolvency proceedings rank pari passu among themselves. Certain claims which lawfully arose against
the insolvency estate after the opening of the insolvency proceedings (privileged claims (Masseforderungen)) enjoy priority in
insolvency proceedings. This includes all taxes, fees, tariffs, social security contributions and any other public assessment concerning
the insolvency estate if and to the extent that the facts and circumstances triggering any such obligation are established during the
insolvency proceeding.

Claims which are secured by collateral, such as
a mortgage, a pledge over bank accounts or shares, an assignment of receivables for security purposes or a security transfer of moveable
assets (preferential claims (Absonderungsrechte)), are entitled to preferential payment in the distribution of the proceeds resulting
from the realization of the charged asset. Creditors who have a right to preferential treatment may participate in the pro rata distribution
to the unsecured creditors only to the extent that the proceeds from the realization of the assets charged to them did not cover their
claims or if they have waived their right to preferential treatment. Secured creditors do not have a voting right with respect to the
approval of the restructuring plan to the extent their claim is covered by security. Claims relating to the payment of taxes, social security
contributions and employee compensation are not, as such, privileged or preferential claims under Austrian law.

The costs of the insolvency proceedings and certain
liabilities accrued during such proceedings constitute privileged claims (Masseforderungen) and rank senior to all other insolvency
claims (Insolvenzforderungen). Claims of creditors with a right of segregation of assets (Aussonderungsberechtigte), such
as creditors with a retention of title or trustees, remain unaffected by the opening of insolvency proceedings.

Once insolvency proceedings have been opened it
is no longer possible to obtain an execution lien with respect to assets belonging to the insolvency estate. All execution proceedings
against the debtor are subject to an automatic stay during the duration of the insolvency proceeding (Vollstreckungssperre). Execution
liens obtained within the