Company: SUZ
Filing Date: 2025-09-02
Form Type: 424B2
Source: 0001104659-25-086037
Chunk: 117

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 424B2
Chunk 117
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 to Debt secured by a Lien on an asset of such Person                                                                
 but not otherwise the obligation, contingent or otherwise, of such Person, the lesser of (x) the fair market value of such asset 
 on the date the Lien attached and (y) the amount of such Debt;                                                                   |

| c) | with respect to any Debt issued with original issue discount,                                                    
 the face amount of such Debt less the remaining unamortized portion of the original issue discount of such Debt; |

| d) | with respect to any Hedging Agreement, the net amount payable                        
 if such Hedging Agreement terminated at that time due to default by such Person; and |

| e) | otherwise, the outstanding principal amount thereof. |

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“” means an event or
condition with respect to a series of Securities that, with the giving of notice, lapse of time or failure to satisfy certain specified
conditions, or any combination thereof, would become an Event of Default with respect to the Securities of such series if not cured or
remedied.

“” means, with
respect to any Person, any interest rate protection agreement, any currency or commodity swap, cap or collar agreement, any equity swap,
any weather related derivative or any arrangement similar to any of the foregoing entered into by such Person providing for the transfer
or mitigation of interest rate, currency, commodity price, equity risks, weather related risks or other risks either generally or under
specific contingencies.

“” means any mortgage, pledge,
usufruct, fiduciary transfer (alienação fiduciária), charge, encumbrance, lien or other security interest,
or any preferential arrangement (including a securitization) that has the practical effect of creating a security interest.

“” means,
as to any Person, any Subsidiary of such Person which, on any given date of determination, accounts for more than 15% of such Person’s
total consolidated assets, as such total assets are set forth on the most recent consolidated financial statements of such Person prepared
in accordance with Reporting GAAP.

“” means (a) David
Feffer, Daniel Feffer, Jorge Feffer and Ruben Feffer, as well as any of their respective heirs, or (b) an entity that is directly
or indirectly controlled by one or more of the Persons listed in clause (a) above.

“” means:

| (1) | any Lien existing on the date