Barclays Regulatory News (BARC)

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR

MORE

Rule 8.3 of the Takeover Code (the "Code")

1.

KEY INFORMATION

(a)

Full name of discloser:

Barclays PLC.

(b)

Owner or controller of interest and short

positions disclosed, if different from 1(a):

(c)

Name of offeror/offeree in relation to whose

INTERNATIONAL PAPER CO

relevant securities this form relates:

(d)

If an exempt fund manager connected with an

offeror/offeree, state this and specify identity of

offeror/offeree:

(e)

Date position held/dealing undertaken:

30 May 2024

(f)

In addition to the company in 1(c) above, is the discloser making

YES:

disclosures in respect of any other party to the offer?

DS SMITH PLC

2.

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)

Interests and short positions in the relevant securities of the offeror or offeree

to which the disclosure relates following the dealing(if any)

Class of relevant security:

common stock

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

789,577

0.23%

552,132

0.16%

(2)

Cash-settled derivatives:

and/or controlled:

286,010

0.08%

44,055

0.01%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,075,587

0.31%

596,187

0.17%

(b)

Rights to subscribe for new securities (including directors and other executive

options)

Class of relevant security in relation to

which subscription right exists

Details, including nature of the rights

concerned and relevant percentages:

3.

DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a)

Purchases and sales

Class of relevant

Purchase/sale

Number of

Price per unit

security

securities

common stock

Purchase

150,000

44.3347 USD

common stock

Purchase

108,348

44.5666 USD

common stock

Purchase

55,516

44.2297 USD

common stock

Purchase

48,894

44.3486 USD

common stock

Purchase

28,381

44.2397 USD

common stock

Purchase

21,941

44.2171 USD

common stock

Purchase

19,176

44.2658 USD

common stock

Purchase

16,076

44.2075 USD

common stock

Purchase

15,618

44.2263 USD

common stock

Purchase

15,003

44.6088 USD

common stock

Purchase

13,432

44.2201 USD

common stock

Purchase

12,271

44.5800 USD

common stock

Purchase

7,787

44.3317 USD

common stock

Purchase

7,614

44.2486 USD

common stock

Purchase

5,975

44.2063 USD

common stock

Purchase

5,908

44.1184 USD

common stock

Purchase

3,748

44.2379 USD

common stock

Purchase

3,453

44.2774 USD

common stock

Purchase

1,719

44.1642 USD

common stock

Purchase

1,369

44.3115 USD

common stock

Purchase

1,176

44.5799 USD

common stock

Purchase

800

44.3100 USD

common stock

Purchase

728

44.2939 USD

common stock

Purchase

704

44.2693 USD

common stock

Purchase

661

44.2728 USD

common stock

Purchase

596

44.2364 USD

common stock

Purchase

500

44.1450 USD

common stock

Purchase

315

44.3316 USD

common stock

Purchase

312

44.2062 USD

common stock

Purchase

304

44.2609 USD

common stock

Purchase

290

44.3369 USD

common stock

Purchase

250

44.2240 USD

common stock

Purchase

242

44.4600 USD

common stock

Purchase

200

44.2850 USD

common stock

Purchase

165

44.2501 USD

common stock

Purchase

150

44.2150 USD

common stock

Purchase

150

44.0100 USD

common stock

Purchase

100

44.1475 USD

common stock

Purchase

100

44.3850 USD

common stock

Purchase

85

44.2256 USD

common stock

Purchase

70

44.2000 USD

common stock

Purchase

65

44.7900 USD

common stock

Purchase

55

44.1027 USD

common stock

Purchase

50

44.2200 USD

common stock

Purchase

50

44.0400 USD

common stock

Purchase

20

44.0800 USD

common stock

Purchase

10

44.2100 USD

common stock

Purchase

4

44.3700 USD

common stock

Purchase

3

44.5600 USD

common stock

Sale

149,524

44.2662 USD

common stock

Sale

68,395

44.5822 USD

common stock

Sale

54,621

44.4549 USD

common stock

Sale

39,523

44.1897 USD

common stock

Sale

36,111

44.2359 USD

common stock

Sale

32,159

44.5784 USD

common stock

Sale

30,924

44.2666 USD

common stock

Sale

25,208

44.3018 USD

common stock

Sale

14,353

44.6118 USD

common stock

Sale

14,230

44.2764 USD

common stock

Sale

13,571

44.5800 USD

common stock

Sale

12,185

44.2932 USD

common stock

Sale

8,325

44.2226 USD

common stock

Sale

8,294

44.2152 USD

common stock

Sale

6,891

44.2163 USD

common stock

Sale

6,593

44.3839 USD

common stock

Sale

6,481

44.3550 USD

common stock

Sale

4,436

44.3224 USD

common stock

Sale

3,283

44.2070 USD

common stock

Sale

3,069

44.2404 USD

common stock

Sale

2,853

44.2873 USD

common stock

Sale

1,369

44.3115 USD

common stock

Sale

1,236

44.2415 USD

common stock

Sale

1,176

44.5799 USD

common stock

Sale

704

44.2693 USD

common stock

Sale

620

44.5629 USD

common stock

Sale

500

44.1450 USD

common stock

Sale

450

44.3022 USD

common stock

Sale

401

44.4218 USD

common stock

Sale

352

44.5323 USD

common stock

Sale

315

44.3316 USD

common stock

Sale

300

44.2900 USD

common stock

Sale

300

44.3766 USD

common stock

Sale

300

44.2066 USD

common stock

Sale

290

44.3368 USD

common stock

Sale

242

44.3537 USD

common stock

Sale

242

44.4600 USD

common stock

Sale

239

44.2160 USD

common stock

Sale

200

44.2850 USD

common stock

Sale

165

44.2501 USD

common stock

Sale

136

44.3900 USD

common stock

Sale

115

44.2780 USD

common stock

Sale

100

44.2025 USD

common stock

Sale

100

44.3350 USD

common stock

Sale

85

44.2256 USD

common stock

Sale

69

44.3400 USD

common stock

Sale

65

44.7900 USD

common stock

Sale

41

44.5500 USD

common stock

Sale

40

44.3150 USD

common stock

Sale

20

44.2440 USD

common stock

Sale

10

44.2100 USD

common stock

Sale

5

43.9900 USD

common stock

Sale

5

43.9000 USD

common stock

Sale

3

44.0700 USD

common stock

Sale

2

44.1300 USD

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class

Product

Writing,

Number

Exercise

Type

Expiry

Option

of

description

purchasing,

of

price

date

money

relevant

selling,

securities

per unit

paid/

security

varying etc

to which

received

option

per unit

relates

common stock

Call Options

Selling

100

43.0000 USD

American

18 Oct 2024

4.7000 USD

common stock

Call Options

Selling

6,500

40.0000 USD

American

18 Oct 2024

6.4000 USD

(ii)

Exercising

Class of relevant

Product description

Exercising/ exercised against

Number of

Exercise price per

security

securities

unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant

Nature of Dealings

Details

Price per unit (if

security

applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings arrangements

Details of any indemnity or option arrangement, or any agreement or understanding,

formal or informal, relating to relevant securities which may be an inducement to deal

or refrain from dealing entered into by the exempt principal trader making the disclosure and any party

to the offer or any person acting in concert with a party to the offer:

NONE

(b)

Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between

the person making the disclosure and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights of future acquisition or disposal of any relevant securities to which

any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

31 May 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213