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:

17 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:

31,512,812

2.28%

27,518,554

1.99%

(2)

Cash-settled derivatives:

and/or controlled:

7,520,550

0.55%

30,743,349

2.23%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

39,033,362

2.83%

58,261,903

4.22%

(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

359,368

3.4725 GBP

10p ordinary

Purchase

201,840

3.4720 GBP

10p ordinary

Purchase

103,221

3.5368 GBP

10p ordinary

Purchase

91,955

3.4718 GBP

10p ordinary

Purchase

60,688

3.4710 GBP

10p ordinary

Purchase

57,642

3.4633 GBP

10p ordinary

Purchase

32,200

3.5066 GBP

10p ordinary

Purchase

26,443

3.4793 GBP

10p ordinary

Purchase

17,716

3.4920 GBP

10p ordinary

Purchase

10,746

3.4759 GBP

10p ordinary

Purchase

9,607

3.4845 GBP

10p ordinary

Purchase

8,890

3.4712 GBP

10p ordinary

Purchase

8,465

3.4641 GBP

10p ordinary

Purchase

7,779

3.4769 GBP

10p ordinary

Purchase

6,279

3.4842 GBP

10p ordinary

Purchase

5,533

3.4513 GBP

10p ordinary

Purchase

5,304

3.4622 GBP

10p ordinary

Purchase

4,654

3.4637 GBP

10p ordinary

Purchase

3,913

3.5232 GBP

10p ordinary

Purchase

3,833

3.4855 GBP

10p ordinary

Purchase

3,061

3.4834 GBP

10p ordinary

Purchase

2,536

3.4951 GBP

10p ordinary

Purchase

2,359

3.4980 GBP

10p ordinary

Purchase

2,280

3.4690 GBP

10p ordinary

Purchase

1,703

3.5046 GBP

10p ordinary

Purchase

1,529

3.5142 GBP

10p ordinary

Purchase

927

3.4748 GBP

10p ordinary

Purchase

917

3.4640 GBP

10p ordinary

Purchase

669

3.4950 GBP

10p ordinary

Purchase

570

3.4900 GBP

10p ordinary

Purchase

22

3.4520 GBP

10p ordinary

Sale

229,043

3.4720 GBP

10p ordinary

Sale

180,637

3.5184 GBP

10p ordinary

Sale

175,220

3.4738 GBP

10p ordinary

Sale

131,560

3.4779 GBP

10p ordinary

Sale

80,900

3.4769 GBP

10p ordinary

Sale

25,071

3.5219 GBP

10p ordinary

Sale

23,972

3.4701 GBP

10p ordinary

Sale

19,784

3.4707 GBP

10p ordinary

Sale

19,305

3.4714 GBP

10p ordinary

Sale

12,743

3.5466 GBP

10p ordinary

Sale

6,271

3.5064 GBP

10p ordinary

Sale

5,022

3.5121 GBP

10p ordinary

Sale

4,997

3.4982 GBP

10p ordinary

Sale

4,754

3.5143 GBP

10p ordinary

Sale

2,374

3.5042 GBP

10p ordinary

Sale

2,272

3.4998 GBP

10p ordinary

Sale

1,615

3.5196 GBP

10p ordinary

Sale

962

3.5034 GBP

10p ordinary

Sale

750

3.5430 GBP

10p ordinary

Sale

239

3.4460 GBP

10p ordinary

Sale

198

3.4710 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

54,800

3.4721 GBP

10p ordinary

SWAP

Decreasing Long

57,642

3.4633 GBP

10p ordinary

SWAP

Decreasing Short

976

3.5640 GBP

10p ordinary

CFD

Decreasing Short

1,082

3.4719 GBP

10p ordinary

CFD

Decreasing Short

2,669

3.4547 GBP

10p ordinary

SWAP

Decreasing Short

5,022

3.5121 GBP

10p ordinary

SWAP

Decreasing Short

8,414

3.4955 GBP

10p ordinary

SWAP

Decreasing Short

14,766

3.4696 GBP

10p ordinary

SWAP

Decreasing Short

23,972

3.4701 GBP

10p ordinary

SWAP

Decreasing Short

25,071

3.5219 GBP

10p ordinary

SWAP

Decreasing Short

43,771

3.4741 GBP

10p ordinary

CFD

Decreasing Short

127,969

3.4720 GBP

10p ordinary

SWAP

Decreasing Short

180,637

3.5184 GBP

10p ordinary

SWAP

Increasing Long

4,754

3.5143 GBP

10p ordinary

SWAP

Increasing Long

19,305

3.4714 GBP

10p ordinary

SWAP

Increasing Short

4

3.5475 GBP

10p ordinary

CFD

Increasing Short

1,082

3.4719 GBP

10p ordinary

SWAP

Increasing Short

2,359

3.4980 GBP

10p ordinary

SWAP

Increasing Short

2,836

3.4776 GBP

10p ordinary

SWAP

Increasing Short

3,913

3.5232 GBP

10p ordinary

SWAP

Increasing Short

5,533

3.4513 GBP

10p ordinary

SWAP

Increasing Short

17,067

3.4634 GBP

10p ordinary

CFD

Increasing Short

17,422

3.4625 GBP

10p ordinary

SWAP

Increasing Short

23,780

3.4846 GBP

10p ordinary

SWAP

Increasing Short

59,038

3.4710 GBP

10p ordinary

SWAP

Increasing Short

66,485

3.4720 GBP

10p ordinary

SWAP

Increasing Short

90,155

3.4720 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:

18 Jun 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213