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:

24 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:

23,842,476

1.73%

32,693,061

2.37%

(2)

Cash-settled derivatives:

and/or controlled:

9,074,801

0.66%

22,898,271

1.66%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

32,917,277

2.39%

55,591,332

4.03%

(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

359,104

3.6307 GBP

10p ordinary

Purchase

331,964

3.6536 GBP

10p ordinary

Purchase

288,108

3.6535 GBP

10p ordinary

Purchase

153,829

3.6560 GBP

10p ordinary

Purchase

149,898

3.6267 GBP

10p ordinary

Purchase

116,614

3.6194 GBP

10p ordinary

Purchase

87,740

3.6351 GBP

10p ordinary

Purchase

40,000

3.6078 GBP

10p ordinary

Purchase

27,757

3.6648 GBP

10p ordinary

Purchase

27,468

3.6427 GBP

10p ordinary

Purchase

15,477

3.6472 GBP

10p ordinary

Purchase

9,330

3.6465 GBP

10p ordinary

Purchase

8,562

3.6316 GBP

10p ordinary

Purchase

8,021

3.6462 GBP

10p ordinary

Purchase

7,185

3.6435 GBP

10p ordinary

Purchase

6,072

3.6542 GBP

10p ordinary

Purchase

5,616

3.6240 GBP

10p ordinary

Purchase

4,707

3.6531 GBP

10p ordinary

Purchase

4,520

3.6386 GBP

10p ordinary

Purchase

4,227

3.6155 GBP

10p ordinary

Purchase

3,503

3.6363 GBP

10p ordinary

Purchase

3,027

3.6153 GBP

10p ordinary

Purchase

2,543

3.6000 GBP

10p ordinary

Purchase

2,473

3.6463 GBP

10p ordinary

Purchase

1,977

3.6161 GBP

10p ordinary

Purchase

1,948

3.6149 GBP

10p ordinary

Purchase

1,609

3.6424 GBP

10p ordinary

Purchase

1,545

3.6107 GBP

10p ordinary

Purchase

1,461

3.6010 GBP

10p ordinary

Purchase

1,411

3.6380 GBP

10p ordinary

Purchase

1,384

3.6530 GBP

10p ordinary

Purchase

1,299

3.6260 GBP

10p ordinary

Purchase

1,047

3.6700 GBP

10p ordinary

Purchase

1,042

3.6640 GBP

10p ordinary

Purchase

1,013

3.6480 GBP

10p ordinary

Purchase

962

3.6540 GBP

10p ordinary

Purchase

941

3.6570 GBP

10p ordinary

Purchase

925

3.6340 GBP

10p ordinary

Purchase

918

3.6026 GBP

10p ordinary

Purchase

797

3.6600 GBP

10p ordinary

Purchase

681

3.6020 GBP

10p ordinary

Purchase

514

3.6261 GBP

10p ordinary

Purchase

320

3.6740 GBP

10p ordinary

Purchase

202

3.6280 GBP

10p ordinary

Sale

378,281

3.6503 GBP

10p ordinary

Sale

217,392

3.6539 GBP

10p ordinary

Sale

203,346

3.6320 GBP

10p ordinary

Sale

161,612

3.6561 GBP

10p ordinary

Sale

159,586

3.6215 GBP

10p ordinary

Sale

157,991

3.6280 GBP

10p ordinary

Sale

147,179

3.6560 GBP

10p ordinary

Sale

120,420

3.6552 GBP

10p ordinary

Sale

73,864

3.6238 GBP

10p ordinary

Sale

73,673

3.6295 GBP

10p ordinary

Sale

61,866

3.6340 GBP

10p ordinary

Sale

50,432

3.6370 GBP

10p ordinary

Sale

29,683

3.6242 GBP

10p ordinary

Sale

25,102

3.6249 GBP

10p ordinary

Sale

24,797

3.6402 GBP

10p ordinary

Sale

22,361

3.6192 GBP

10p ordinary

Sale

17,186

3.6250 GBP

10p ordinary

Sale

16,297

3.6252 GBP

10p ordinary

Sale

14,661

3.6297 GBP

10p ordinary

Sale

12,077

3.6078 GBP

10p ordinary

Sale

9,592

3.6151 GBP

10p ordinary

Sale

8,407

3.6225 GBP

10p ordinary

Sale

8,407

3.6239 GBP

10p ordinary

Sale

8,301

3.6193 GBP

10p ordinary

Sale

7,521

3.6428 GBP

10p ordinary

Sale

7,105

3.6243 GBP

10p ordinary

Sale

4,519

3.6146 GBP

10p ordinary

Sale

3,848

3.6240 GBP

10p ordinary

Sale

3,567

3.6434 GBP

10p ordinary

Sale

3,088

3.6559 GBP

10p ordinary

Sale

2,984

3.6259 GBP

10p ordinary

Sale

2,508

3.6035 GBP

10p ordinary

Sale

2,208

3.6290 GBP

10p ordinary

Sale

1,949

3.6156 GBP

10p ordinary

Sale

1,787

3.6020 GBP

10p ordinary

Sale

1,756

3.6055 GBP

10p ordinary

Sale

1,299

3.6260 GBP

10p ordinary

Sale

1,086

3.6335 GBP

10p ordinary

Sale

1,047

3.6700 GBP

10p ordinary

Sale

1,042

3.6640 GBP

10p ordinary

Sale

1,013

3.6480 GBP

10p ordinary

Sale

988

3.6230 GBP

10p ordinary

Sale

962

3.6540 GBP

10p ordinary

Sale

797

3.6600 GBP

10p ordinary

Sale

777

3.6200 GBP

10p ordinary

Sale

620

3.6080 GBP

10p ordinary

Sale

320

3.6740 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

10p ordinary

CFD

Decreasing Long

7

3.6557 GBP

10p ordinary

SWAP

Decreasing Long

681

3.6020 GBP

10p ordinary

CFD

Decreasing Long

9,577

3.6559 GBP

10p ordinary

SWAP

Decreasing Long

13,587

3.6373 GBP

10p ordinary

CFD

Decreasing Long

105,430

3.6560 GBP

10p ordinary

SWAP

Decreasing Short

620

3.6080 GBP

10p ordinary

SWAP

Decreasing Short

2,152

3.5892 GBP

10p ordinary

SWAP

Decreasing Short

3,088

3.6559 GBP

10p ordinary

SWAP

Decreasing Short

4,519

3.6146 GBP

10p ordinary

SWAP

Decreasing Short

37,559

3.6345 GBP

10p ordinary

SWAP

Decreasing Short

39,515

3.6241 GBP

10p ordinary

SWAP

Decreasing Short

73,864

3.6238 GBP

10p ordinary

SWAP

Decreasing Short

112,164

3.6215 GBP

10p ordinary

SWAP

Decreasing Short

135,136

3.6560 GBP

10p ordinary

SWAP

Decreasing Short

156,278

3.6560 GBP

10p ordinary

CFD

Increasing Long

1,013

3.6479 GBP

10p ordinary

CFD

Increasing Long

9,118

3.6328 GBP

10p ordinary

CFD

Increasing Long

9,577

3.6559 GBP

10p ordinary

CFD

Increasing Long

12,465

3.6317 GBP

10p ordinary

CFD

Increasing Long

15,151

3.6017 GBP

10p ordinary

SWAP

Increasing Long

18,500

3.6154 GBP

10p ordinary

SWAP

Increasing Long

73,673

3.6295 GBP

10p ordinary

SWAP

Increasing Long

120,420

3.6552 GBP

10p ordinary

SWAP

Increasing Short

918

3.6026 GBP

10p ordinary

SWAP

Increasing Short

1,751

3.6081 GBP

10p ordinary

SWAP

Increasing Short

3,027

3.6153 GBP

10p ordinary

SWAP

Increasing Short

27,757

3.6648 GBP

10p ordinary

SWAP

Increasing Short

116,614

3.6194 GBP

10p ordinary

SWAP

Increasing Short

170,961

3.6546 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:

25 Jun 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213