Company: SUZ
Filing Date: 2025-09-04
Form Type: 424B2
Source: 0001104659-25-087376
Chunk: 11

Company: Suzano S.A.
Filing Date: 2025-09-04
Form: 424B2
Chunk 11
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 Notes are expected to
be rated by credit rating agencies. Such ratings are limited in scope, and do not address all material risks relating to an investment
in the Notes, but rather reflect only the view of each rating agency at the time the rating is issued. An explanation of the significance
of such rating may be obtained from such rating agency. There can be no assurance that such credit ratings will remain in effect for
any given period of time or that such ratings will not be lowered, suspended or withdrawn entirely by the rating agencies, if, in each
rating agency’s judgment, circumstances so warrant. Actual or anticipated changes or downgrades in our credit ratings, including
any announcement that our ratings are under further review for a downgrade, could affect the market value of the Notes and increase our
corporate borrowing costs.

Developments in other countries may affect prices for the Notes.

The market for securities
issued by Brazilian companies is influenced by economic and market conditions in Brazil, and, to varying degrees, market conditions in
other countries, including Latin American and developing countries. Although economic conditions are different in each country, the reaction
of investors to developments in one country may cause the capital markets in other countries to fluctuate. Developments or conditions
in other countries, including developing countries, have at times significantly affected the availability of credit in the Brazilian
economy and resulted in considerable outflows of funds and declines in the amount of foreign currency invested in Brazil, as well as
limited access to international capital markets, all of which may materially adversely affect our ability to borrow funds at an acceptable
interest rate or to raise equity capital when and if there should be a need for us to do so. See “Risk Factors—Economic and
market conditions in other countries, including in the United States and emerging market countries, may materially and adversely affect
the Brazilian economy and, therefore, our financial condition” in Suzano’s 2024 Form 20-F.

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The volatility in market
prices for Brazilian securities, including debt securities such as the Notes, has increased from time to time, and investors’ perception
of increased risk due to crises in other countries, including developing countries, may also lead to a reduction in the market price
of the Notes.

We may incur additional indebtedness, including debt ranking equal to the Notes and the Guarantee.

The indenture will permit
the Issuer and the Guarantor and its subsidiaries to incur additional debt, including debt that ranks on