Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 31

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 31
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 been satisfied; and (ii) an Opinion of Counsel (as provided for in the Indenture) to
the effect that the Issuer has or will become obligated to pay Additional Amounts in excess of the Additional Amounts payable at the
Minimum Withholding Level as a result of the change or amendment and that all governmental approvals necessary for the Issuer to effect
the redemption have been obtained and are in full force and effect.

Redemption following a Tender Offer

Notwithstanding the foregoing,
in connection with any tender offer for the notes, in the event that the holders of not less than 85% of the aggregate principal amount
of the outstanding notes validly tender and do not validly withdraw notes in such tender offer or a third party purchases all the notes
held by such holders, then the issuer will have the right, on not less than 10 nor more than 60 days’ prior notice, given not more
than 30 days following such purchase date, to redeem all of the notes that remain outstanding following such purchase at a price equal
to the price paid to each other holder in such tender offer, plus, to the extent not included in the purchase price, accrued and unpaid
interest and additional amounts, if any, on the notes that remain outstanding, to the date of redemption (subject to the right of holders
of record on the relevant record date to receive interest due on the relevant interest payment date).

Covenants

Limitation on Liens

Suzano will not, and will
not permit any Subsidiary to, directly or indirectly, incur or permit to exist any Lien securing the payment of Debt on any of its properties
or assets, whether owned at the Issue Date or thereafter acquired, other than Permitted Liens, without effectively providing that the
Notes or the Guarantee, as applicable, are secured equally and ratably with (or, if the obligation to be secured by the Lien is subordinated
in right of payment to the debt securities or any debt securities guarantees, prior to) the obligations so secured for so long as such
obligations are so secured.

<div align='center'>S-23</div>

Repurchase of Debt Securities upon a Change of Control

Not later than 30 days following
a Change of Control that results in a Rating Decline (as defined in the accompanying prospectus) for the Notes, Suzano Netherlands will
make an Offer to Purchase all outstanding Notes at a purchase price equal to 101% of the