Company: SUZ
Filing Date: 2025-09-02
Form Type: 424B2
Source: 0001104659-25-086037
Chunk: 55

Company: Suzano S.A.
Filing Date: 2025-09-02
Form: 424B2
Chunk 55
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 to R$5 million, (ii) 17.5% for the part of the gain that exceeds R$ 5 million but does not exceed R$10
million, (iii) 20% for the part of the gain that exceeds R$10 million but does not exceed R$30 million, and (iv) 22.5% for the
part of the gain that exceeds R$30 million) or 25%, if such Non Resident Holder is located in a country or locality which does not impose
any income tax or which impose it at a maximum rate lower than 17% or where the internal laws impose restrictions on the disclosure of
ownership composition, or do not allow the identification of the effective beneficiary of the income attributed to non-residents), unless
a lower rate is provided for in an applicable tax treaty between Brazil and the country where the Non Resident Holder is domiciled.

Payments made by Guarantor

In the event the Issuer fails
to timely pay principal, interest or any other amounts that may be due and payable in respect of the Notes, the Guarantor, which is considered,
for purposes of Brazilian taxation, resident or domiciled in Brazil, will be required to pay such amount to the Non Resident Holder. In
spite of the lack of a clear regulation regarding payments by a person who is resident or domiciled in connection with this type of obligation,
we believe that there are grounds to sustain that this transaction should be viewed as a new credit transaction between the Issuer and
the Guarantor, which is not subject to taxation in Brazil. If this view does not prevail in case of a tax dispute, the amounts paid by
the Guarantor to a Non Resident Holder in respect of the Notes (including any Additional Amount to ensure that the non-resident holder
receives the amounts due in respect of the Notes net of income tax) could be subject to the Brazilian withholding income tax at a rate
of up to 25%, as discussed above, depending on the nature of the payment and the location of the Non Resident Holder.

Discussion of Low or Nil Tax Jurisdictions

According to Law No 9,430, dated December 27, 1996, as amended,a “Low or Nil Tax Jurisdiction” is a country or location
that (1) does not impose taxation on income, (2) imposes the income tax at a rate lower than 17% or (3) imposes restrictions
on the disclosure of shareholding composition or investment ownership.

Additionally