Smith (DS) Regulatory News (SMDS)

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

DS SMITH PLC

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:

20 Jun 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?

INTERNATIONAL PAPER COMPANY

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:

10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

30,108,052

2.18%

30,603,580

2.22%

(2)

Cash-settled derivatives:

and/or controlled:

7,417,810

0.54%

29,288,200

2.12%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

37,525,862

2.72%

59,891,780

4.34%

(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

10p ordinary

Purchase

416,637

3.6200 GBP

10p ordinary

Purchase

409,980

3.6165 GBP

10p ordinary

Purchase

230,065

3.5719 GBP

10p ordinary

Purchase

134,489

3.6131 GBP

10p ordinary

Purchase

110,249

3.5604 GBP

10p ordinary

Purchase

77,000

3.6063 GBP

10p ordinary

Purchase

61,296

3.5549 GBP

10p ordinary

Purchase

44,158

3.5628 GBP

10p ordinary

Purchase

14,678

3.5984 GBP

10p ordinary

Purchase

6,934

3.5380 GBP

10p ordinary

Purchase

5,318

3.5826 GBP

10p ordinary

Purchase

5,178

3.5780 GBP

10p ordinary

Purchase

3,563

3.5560 GBP

10p ordinary

Purchase

3,442

3.6198 GBP

10p ordinary

Purchase

2,835

3.5839 GBP

10p ordinary

Purchase

2,779

3.5860 GBP

10p ordinary

Purchase

2,774

3.5702 GBP

10p ordinary

Purchase

2,688

3.5640 GBP

10p ordinary

Purchase

2,530

3.5620 GBP

10p ordinary

Purchase

2,479

3.6180 GBP

10p ordinary

Purchase

2,317

3.5920 GBP

10p ordinary

Purchase

2,099

3.6013 GBP

10p ordinary

Purchase

2,063

3.5550 GBP

10p ordinary

Purchase

1,976

3.5740 GBP

10p ordinary

Purchase

1,811

3.5180 GBP

10p ordinary

Purchase

1,516

3.5840 GBP

10p ordinary

Purchase

1,441

3.5760 GBP

10p ordinary

Purchase

1,384

3.5520 GBP

10p ordinary

Purchase

1,241

3.5858 GBP

10p ordinary

Purchase

1,196

3.5460 GBP

10p ordinary

Purchase

1,184

3.5680 GBP

10p ordinary

Purchase

1,087

3.5779 GBP

10p ordinary

Purchase

624

3.5200 GBP

10p ordinary

Purchase

581

3.5000 GBP

10p ordinary

Purchase

63

3.5928 GBP

10p ordinary

Purchase

39

3.5973 GBP

10p ordinary

Purchase

6

3.5893 GBP

10p ordinary

Purchase

5

3.6280 GBP

10p ordinary

Purchase

3

3.6060 GBP

10p ordinary

Purchase

3

3.5886 GBP

10p ordinary

Purchase

1

3.5730 GBP

10p ordinary

Sale

537,701

3.6148 GBP

10p ordinary

Sale

396,578

3.6200 GBP

10p ordinary

Sale

202,436

3.5900 GBP

10p ordinary

Sale

138,183

3.5881 GBP

10p ordinary

Sale

116,482

3.5939 GBP

10p ordinary

Sale

107,506

3.6201 GBP

10p ordinary

Sale

105,207

3.6007 GBP

10p ordinary

Sale

59,076

3.5721 GBP

10p ordinary

Sale

40,325

3.5950 GBP

10p ordinary

Sale

36,733

3.5708 GBP

10p ordinary

Sale

27,113

3.5852 GBP

10p ordinary

Sale

22,877

3.5742 GBP

10p ordinary

Sale

20,089

3.5804 GBP

10p ordinary

Sale

18,704

3.5808 GBP

10p ordinary

Sale

15,777

3.5806 GBP

10p ordinary

Sale

13,906

3.5728 GBP

10p ordinary

Sale

10,369

3.5635 GBP

10p ordinary

Sale

9,661

3.5697 GBP

10p ordinary

Sale

9,256

3.5760 GBP

10p ordinary

Sale

7,841

3.5726 GBP

10p ordinary

Sale

6,674

3.5759 GBP

10p ordinary

Sale

5,664

3.5720 GBP

10p ordinary

Sale

5,535

3.5775 GBP

10p ordinary

Sale

5,178

3.5780 GBP

10p ordinary

Sale

4,615

3.5798 GBP

10p ordinary

Sale

3,755

3.6118 GBP

10p ordinary

Sale

3,598

3.5987 GBP

10p ordinary

Sale

3,563

3.5560 GBP

10p ordinary

Sale

3,538

3.5812 GBP

10p ordinary

Sale

2,779

3.5860 GBP

10p ordinary

Sale

2,688

3.5640 GBP

10p ordinary

Sale

1,946

3.5740 GBP

10p ordinary

Sale

1,822

3.5836 GBP

10p ordinary

Sale

1,750

3.5750 GBP

10p ordinary

Sale

1,516

3.5840 GBP

10p ordinary

Sale

1,477

3.5925 GBP

10p ordinary

Sale

1,470

3.5952 GBP

10p ordinary

Sale

1,384

3.5520 GBP

10p ordinary

Sale

1,264

3.6180 GBP

10p ordinary

Sale

1,184

3.5680 GBP

10p ordinary

Sale

1,146

3.5794 GBP

10p ordinary

Sale

1,036

3.5820 GBP

10p ordinary

Sale

581

3.5000 GBP

10p ordinary

Sale

569

3.5789 GBP

10p ordinary

Sale

497

3.5800 GBP

10p ordinary

Sale

427

3.5953 GBP

10p ordinary

Sale

361

3.6026 GBP

10p ordinary

Sale

190

3.5770 GBP

10p ordinary

Sale

63

3.5932 GBP

10p ordinary

Sale

39

3.5976 GBP

10p ordinary

Sale

5

3.6280 GBP

10p ordinary

Sale

2

3.6060 GBP

10p ordinary

Sale

1

3.5733 GBP

10p ordinary

Sale

34

3.6179 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

10p ordinary

SWAP

Decreasing Long

44,158

3.5628 GBP

10p ordinary

CFD

Decreasing Short

581

3.5000 GBP

10p ordinary

SWAP

Decreasing Short

1,146

3.5794 GBP

10p ordinary

CFD

Decreasing Short

1,246

3.5460 GBP

10p ordinary

SWAP

Decreasing Short

1,822

3.5836 GBP

10p ordinary

CFD

Decreasing Short

9,087

3.5837 GBP

10p ordinary

CFD

Decreasing Short

31,424

3.6200 GBP

10p ordinary

SWAP

Decreasing Short

50,549

3.5859 GBP

10p ordinary

SWAP

Decreasing Short

89,533

3.5856 GBP

10p ordinary

SWAP

Decreasing Short

105,207

3.6007 GBP

10p ordinary

SWAP

Decreasing Short

137,482

3.6133 GBP

10p ordinary

SWAP

Decreasing Short

154,201

3.6200 GBP

10p ordinary

SWAP

Decreasing Short

189,190

3.6195 GBP

10p ordinary

SWAP

Decreasing Short

202,436

3.5900 GBP

10p ordinary

SWAP

Increasing Long

40,325

3.5950 GBP

10p ordinary

SWAP

Increasing Short

3

3.5886 GBP

10p ordinary

SWAP

Increasing Short

6

3.5893 GBP

10p ordinary

SWAP

Increasing Short

624

3.5200 GBP

10p ordinary

SWAP

Increasing Short

624

3.5180 GBP

10p ordinary

CFD

Increasing Short

1,246

3.5460 GBP

10p ordinary

SWAP

Increasing Short

1,643

3.5991 GBP

10p ordinary

SWAP

Increasing Short

2,099

3.6013 GBP

10p ordinary

SWAP

Increasing Short

3,291

3.5993 GBP

10p ordinary

SWAP

Increasing Short

22,645

3.5858 GBP

10p ordinary

SWAP

Increasing Short

45,070

3.6112 GBP

10p ordinary

SWAP

Increasing Short

110,249

3.5604 GBP

10p ordinary

CFD

Increasing Short

344,402

3.6200 GBP

10p ordinary

SWAP

Opening Short

156

3.5947 GBP

(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

(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:

21 Jun 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213