<SEC-DOCUMENT>0001104659-19-038761.txt : 20190813
<SEC-HEADER>0001104659-19-038761.hdr.sgml : 20190813
<ACCEPTANCE-DATETIME>20190701182523
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-19-038761
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190701

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Suzano S.A.
		CENTRAL INDEX KEY:			0000909327
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPER MILLS [2621]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		AV. PROFESSOR MAGALHAES NETO, 1,752
		STREET 2:		10TH FLOOR, ROOMS 1010 AND 1011
		CITY:			SALVADOR - BA
		STATE:			D5
		ZIP:			41 810-012
		BUSINESS PHONE:		551121384588

	MAIL ADDRESS:	
		STREET 1:		AV. BRIGADEIRO FARIA LIMA, 1,355
		STREET 2:		7TH FLOOR
		CITY:			PINHEIROS, SAO PAULO - SP
		STATE:			D5
		ZIP:			01 452-919

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Suzano Papel e Celulose S.A.
		DATE OF NAME CHANGE:	20180322

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMPANHIA SUZANO DE PAPEL E CELULOSE                    /FI
		DATE OF NAME CHANGE:	19930719

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Suzano Austria GmbH
		CENTRAL INDEX KEY:			0001780366
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			C4
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		FLEISCHMARKT 1
		CITY:			VIENNA
		STATE:			C4
		ZIP:			1010
		BUSINESS PHONE:		43 1 205 776 0095

	MAIL ADDRESS:	
		STREET 1:		FLEISCHMARKT 1
		CITY:			VIENNA
		STATE:			C4
		ZIP:			1010
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>


<html>
<head>



  </head>
<body link=blue lang="EN-US">
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><img width="260" height="63" src="g114422bgi001.jpg"></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="74%" valign="top" style="padding:0in 0in 0in 0in;width:74.84%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">July&nbsp;1, 2019</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities and Exchange Commission</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Division of Corporation Finance</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100 F Street, N.E.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C. 20549</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="89%" style="border-collapse:collapse;">
<tr style="page-break-inside:avoid;">
<td width="16%" valign="top" style="padding:0in 5.4pt 0in 5.4pt;width:16.78%;">
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:</font></p>    </td>
<td width="83%" valign="top" style="padding:0in 5.4pt 0in 5.4pt;width:83.22%;">
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suzano Austria GmbH</font></u></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suzano S.A.</font></u></p>
<p style="margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registration Statement on Form&nbsp;F-4</font></u></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On June&nbsp;24, 2019, Suzano Austria GmbH (the &#147;<u>Issuer</u>&#148;) and Suzano S.A. (the &#147;<u>Guarantor</u>,&#148; and together with the Issuer, the &#147;<u>Co-Registrants</u>&#148;), filed with the Securities and Exchange Commission (the &#147;<u>SEC</u>&#148;) a Registration Statement on Form&nbsp;F-4 (the &#147;<u>Registration Statement</u>&#148;).&#160; The Registration Statement registers U.S.$1,750,000,000 in aggregate principal amount of 6.000% Senior Notes due 2029 of the Issuer (the &#147;<u>2029 New Notes</u>&#148;) to be exchanged for the outstanding 6.000% Senior Notes due 2029 of the Issuer previously issued in private transactions and U.S.$1,000,000,000 in aggregate principal amount of 5.000% Senior Notes due 2030 of the Issuer (the &#147;<u>2030 New Notes</u>&#148; and, together with the 2029 New Notes, the &#147;<u>New Notes</u>&#148;) to be exchanged for the outstanding 5.000% Senior Notes due 2030 of the Issuer previously issued in private transactions (such offers to exchange, the &#147;<u>Exchange Offers</u>,&#148; and such outstanding 6.000% Senior Notes due 2029 and 5.000% Senior Notes due 2030, collectively the &#147;<u>Old Notes</u>&#148;) based on the Exxon Capital Holdings Corporation, SEC No-Action Letter (available April&nbsp;13, 1988) (the &#147;<u>Exxon Capital Letter</u>&#148;), Morgan Stanley&nbsp;&amp; Co. Incorporated, SEC No-Action Letter (available June&nbsp;5, 1991) (the &#147;<u>Morgan Stanley Letter</u>&#148;) and Shearman&nbsp;&amp; Sterling, SEC No-Action Letter (available July&nbsp;2, 1993) (the &#147;<u>Shearman&nbsp;&amp; Sterling Letter</u>&#148;).&#160; In connection with the filing of such Registration Statement and in anticipation of the acceleration of the effectiveness thereof, the Co-Registrants hereby represent as follows:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">The Co-Registrants have not entered into any arrangement or understanding with any person to distribute the New Notes to be received in the Exchange Offers, and to the best of the Co-Registrant&#146;s information and belief,</font> each person participating in the Exchange Offers is acquiring the New Notes in its ordinary course of business and has no arrangement or understanding with any person to participate in the distribution of the New Notes to be received in the Exchange Offers. In this regard, the Co-Registrants will make each person participating in the Exchange Offers aware (through the Exchange Offers prospectus or otherwise) that if the Exchange Offers are being registered for the purpose of secondary resales, any noteholder using the Exchange Offers to participate in a distribution of the New Notes to be acquired in the registered Exchange Offers (1)&nbsp;cannot rely on the staff&#146;s position</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\109763\19-11442-2\task9416754\11442-2-bg.htm',USER='109763',CD='Jul  2 02:54 2019' -->

<div style="page-break-before:always;"></div>
<div>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">in the Exxon Capital Letter, the Morgan Stanley Letter, the Shearman&nbsp;&amp; Sterling Letter or similar letters and (2)&nbsp;must comply with registration and prospectus delivery requirements of the U.S. Securities Act of 1933, as amended (the &#147;<u>Securities Act</u>&#148;) in connection with a secondary resale transaction. The Co-Registrants acknowledge that such a secondary resale transaction should be covered by an effective registration statement containing the selling noteholder information required by Item 507 of Regulation S-K under the Securities Act.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To the best of the Co-Registrants&#146; information and belief, no broker-dealer participating in the Exchange Offers with respect to Old Notes acquired for its own account as a result of market-making activities or other trading activities has entered into any arrangement or understanding with any of the Co-Registrants or any affiliate of the Co-Registrants to distribute the Old Notes.&#160; In addition, the Co-Registrants (i)&nbsp;will make each person participating in the Exchange Offers aware (through the Exchange Offers prospectus or otherwise) that any broker-dealer who holds Old Notes acquired for its own account as a result of market-making activities or other trading activities, and who receives New Notes in exchange therefor pursuant to the Exchange Offers, may be a statutory underwriter and must deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such New Notes and (ii)&nbsp;will include in the Exchange Offers prospectus the additional deemed representation that if the exchange offeree is a broker-dealer holding Old Notes acquired for its own account as a result of market-making activities or other trading activities, an acknowledgment that it will deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of New Notes received in respect of such Old Notes pursuant to the Exchange Offers.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[SIGNATURE PAGES FOLLOW]</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\109763\19-11442-2\task9416754\11442-2-bg.htm',USER='109763',CD='Jul  2 02:54 2019' -->

<div style="page-break-before:always;"></div>
<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.18%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.16%;">
<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.18%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.18%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUZANO S.A.</font></p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.18%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.16%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.18%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.26%;">
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/</font> Marcelo Feriozzi Bacci</p>    </td>   </tr>
<tr>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.66%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="31%" valign="top" style="padding:0in 0in 0in 0in;width:31.18%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.26%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Marcelo Feriozzi Bacci</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attorney-in-Fact</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">[Signature Page&nbsp;to the Exxon Capital Letter]</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\109763\19-11442-2\task9416754\11442-2-bg.htm',USER='109763',CD='Jul  2 02:54 2019' -->

<div style="page-break-before:always;"></div>
<div>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.24%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.24%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SUZANO AUSTRIA GMBH.</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
<td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Marcelo Feriozzi   Bacci</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Marcelo Feriozzi Bacci</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.76%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attorney-in-Fact</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">[Signature Page&nbsp;to the Exxon Capital Letter]</font></i></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade align="left" style="color:#010101;"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\109763\19-11442-2\task9416754\11442-2-bg.htm',USER='109763',CD='Jul  2 02:54 2019' -->

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g114422bgi001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g114422bgi001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1"  _ 00# 2(  A$! Q$!_\0
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#/__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
