Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 13

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 13
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 taxes and court fees and expenses, and any such right to
participate in the assets of the Guarantor’s subsidiaries will be subject to the prior claims of the creditors of its subsidiaries.
The indenture includes a covenant limiting the ability of the Guarantor and its subsidiaries to create or suffer to exist liens, although
this limitation is subject to significant exceptions. In such a scenario, enforcement of the Guarantee under the Notes may be jeopardized
and noteholders may lose some or all of their investment.

As of June 30, 2025, on a
consolidated basis, Suzano had R$91,627.1 million (equivalent to US$16,790.5 million) aggregate amount of debt outstanding (composed
of current and non-current loans and financing and debentures), of which R$11,230.4 million (equivalent to US$2,057.9 million) was secured.
The U.S. dollar amounts in this sentence were translated for convenience only 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-9</div>

The Issuer’s ability
to make payments on the Notes depends on its receipt of payments from Suzano. The Issuer is a wholly-owned subsidiary of Suzano and has
no substantial assets. The ability of the Issuer to make payments of principal, interest and any other amounts due under the Notes is
contingent on its receipt from Suzano of amounts sufficient to make these payments, and, in turn, on Suzano’s ability to make these
payments. In the event that Suzano is unable to make such payments for any reason and in a timely manner, the Issuer will not have sufficient
resources to satisfy its obligations under the indenture governing the Notes.

The substitution of issuer may cause noteholders to realize taxable gain or loss for U.S. tax purposes, if any, on the notes.

We will have the right to
cause Suzano or any wholly owned subsidiary of Suzano to replace Suzano Netherlands as issuer and principal debtor of the Notes, as described
under “Description of the Notes—Substitution of Issuer” in this prospectus supplement and “Description of the
Debt Securities—Certain Covenants— Substitution of the Issuer” in the