Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 48

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 48
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 over, shares representing 5 per cent. or more of either the total issued and outstanding capital
of the Issuer or the issued and outstanding capital of any class of shares of the Issuer, or (ii) the ownership of, or certain rights
over, profit participating certificates (winstbewijzen) that relate to 5 per cent. or more of either the annual profit or the
liquidation proceeds of the Issuer. A deemed substantial interest may arise if a substantial interest (or part thereof) has been disposed
of, or is deemed to have been disposed of, on a non-recognition basis.

Dutch Resident Entities

Generally speaking, if the
holder of Notes is an entity that is a resident or deemed to be resident of the Netherlands for Dutch corporate income tax purposes (a
“Dutch Resident Entity”), any payment under the Notes or any gain or loss realized on the disposal or deemed disposal
of the Notes is subject to Dutch corporate income tax at the prevailing statutory rates (up to 25.8% for 2025).

Dutch Resident Individuals

If the holder of Notes is
an individual resident or deemed to be resident of the Netherlands for Dutch income tax purposes (a “Dutch Resident Individual”),
any payment under the Notes or any gain or loss realized on the disposal or deemed disposal of the Notes is taxable at the progressive
Dutch income tax rates (with a maximum of 49.5% in 2025), if:

| (i) | the Notes are attributable to an enterprise                                               
 from which the holder of Notes derives a share of the profit, whether as an entrepreneur  
 (ondernemer) or as a person who has a co-entitlement to the net worth (medegerechtigd     
 tot het vermogen) of such enterprise without being a shareholder (as defined in the Dutch 
 Income Tax Act 2001); or                                                                  |

| (ii) | the holder of Notes is considered to                                                            
 perform activities with respect to the Notes that go beyond ordinary asset management (normaal, 
 actief vermogensbeheer) or derives benefits from the Notes that are taxable as benefits         
 from other activities (resultaat uit overige werkzaamheden).                                    |

<div align='center'>S-34</div>

If the above-mentioned conditions (i) and (ii) do not apply to the individual holder of Notes, such holder will be taxed annually on a deemed return.The deemed return is between 1.