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

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 424B2
Chunk 25
---
angible and biological assets 
 whose economic benefits may no longer be obtained or that do not relate to the core business of the Company.                                |

| (7) | Exceptional: Refers to the termination of a packaging subsidiary. |

| (8) | Solely for the convenience of the reader, amounts in reais have been translated for convenience only to                                 
 U.S. dollars at an exchange rate of R$5.4571 per US$ 1.00, which was the commercial selling rate for U.S. dollars in effect on June 30, 
 2025, as reported by the Central Bank of Brazil.                                                                                        |

<div align='center'>S-18

CAPITALIZATION</div>

The following table sets forth
information regarding our consolidated capitalization derived from our unaudited condensed consolidated interim financial information
as of and for the six-month period ended June 30, 2025:

| · | on an actual basis; |

| · | as adjusted to reflect the net proceeds from                                                                                          
 certain bilateral financial loans obtained by Suzano since June 30, 2025, in the ordinary course of business, in the aggregate amount 
 of R$2,415.3 million. See “Summary-Recent Developments”;                                                                              |

| · | as further adjusted to reflect (i) the                                                                         
 receipt of the net proceeds from the issuance of the Notes in this offering estimated at approximately US$     
 million, after deducting underwriting                                                                          
 discounts and offering expenses that are payable by us; (ii) and the use of proceeds therefrom to purchase US$ 
 million of                                                                                                     
 2026 Notes and 2027 Notes pursuant to the Tender Offers and the subsequent make-whole redemption.              |

The following
table should be read together with “Item 8. Financial Information,” “Selected Financial and Operating Data” and
“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” included elsewhere and incorporated
by reference in this prospectus supplement.

|                                             |     | As of June 30, 2025 |          |     |    |           |     |                |          |     |    |           |     |             |     |    |
|:--------------------------------------------|:----|:--------------------|---------:|:----|:---|----------:|:----|:---------------|---------:|:----|:---|----------:|:----|:------------|:----|:---|
|                                             |     | Actual(1