Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 140

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 140
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 restructuring plan that offers a recovery rate of at least 30% to the unsecured creditors over a maximum
two-year period after the approval of such restructuring plan, the debtor qualifies for self-administration (Sanierungsverfahren mit Eigenverwaltung).

Unless the debtor qualifies for self-administration,
it is not allowed as of the date of the opening of the insolvency or the restructuring proceedings, as the case may be, to dispose of
the assets belonging to the insolvency estate (Insolvenzmasse). The opening of insolvency proceedings takes effect on the day
following the publication of the court’s order opening such proceedings in the official online database of Austrian insolvencies
(www.edikte.justiz.gv.at). After the opening of insolvency proceedings, transactions of the debtor with respect to assets belonging to
the insolvency estate have no effect against the creditors of the insolvency estate.

Upon its decision to open the insolvency proceedings,
the court will appoint an insolvency administrator (Insolvenzverwalter) and may, depending on the nature and the size of the debtor’s
business (either ex officio or upon the request of the creditors’ meeting (Gläubigerversammlung)), appoint a creditors’
committee (Gläubigerausschuss) charged with monitoring and assisting the insolvency administrator in the discharge of its
duties. After the opening of insolvency proceedings (and unless the debtor qualifies for self-administration), only the insolvency administrator
is entitled to act on behalf of the insolvency estate.

Under Austrian law, an insolvency administrator’s
role is to continue the debtor’s business with a view to enabling a potential reorganization of such business either by implementing
the debtor’s restructuring plan or by a sale of the debtor’s assets. If neither a restructuring plan nor a sale of the debtor’s
business is possible, the insolvency administrator will discontinue the debtor’s business operations. As a result of the ensuing
insolvency proceedings, the debtor’s assets will be liquidated and the proceeds realized thereby will be distributed to the debtor’s
creditors, with the debtor remaining liable for any portion of its debts not satisfied by such proceeds.

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If the debtor qualifies for self-administration,
the court will proceed with the appointment of a restructuring administrator (Sanierungsverwalter) to monitor the activities of
the debtor. In such case, certain transactions are either subject to