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:

03 Apr 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:

747,792

0.22%

523,805

0.15%

(2)

Cash-settled derivatives:

and/or controlled:

156,288

0.05%

15,780

0.00%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

904,080

0.26%

539,585

0.16%

(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

95,997

39.0169 USD

common stock

Purchase

48,114

38.9776 USD

common stock

Purchase

38,797

39.0392 USD

common stock

Purchase

37,822

38.9787 USD

common stock

Purchase

25,816

38.9659 USD

common stock

Purchase

25,000

38.8787 USD

common stock

Purchase

14,038

39.0051 USD

common stock

Purchase

8,085

39.0700 USD

common stock

Purchase

5,827

38.9196 USD

common stock

Purchase

5,244

38.8810 USD

common stock

Purchase

4,340

38.9862 USD

common stock

Purchase

3,681

38.9714 USD

common stock

Purchase

2,955

38.9706 USD

common stock

Purchase

1,830

38.9868 USD

common stock

Purchase

1,624

39.0506 USD

common stock

Purchase

1,329

39.0123 USD

common stock

Purchase

1,245

39.0665 USD

common stock

Purchase

1,116

38.9054 USD

common stock

Purchase

1,023

38.9662 USD

common stock

Purchase

999

39.0673 USD

common stock

Purchase

453

39.0435 USD

common stock

Purchase

403

38.9710 USD

common stock

Purchase

332

39.0634 USD

common stock

Purchase

216

38.9682 USD

common stock

Purchase

165

39.0217 USD

common stock

Purchase

100

38.9200 USD

common stock

Purchase

100

38.7100 USD

common stock

Purchase

50

38.7600 USD

common stock

Purchase

27

38.7750 USD

common stock

Purchase

3

39.0100 USD

common stock

Sale

181,000

38.7000 USD

common stock

Sale

40,687

38.9899 USD

common stock

Sale

36,565

39.0452 USD

common stock

Sale

35,216

39.0439 USD

common stock

Sale

25,816

38.9659 USD

common stock

Sale

25,000

38.8787 USD

common stock

Sale

22,315

38.9482 USD

common stock

Sale

20,226

39.0178 USD

common stock

Sale

19,364

38.9983 USD

common stock

Sale

18,905

38.9972 USD

common stock

Sale

13,227

38.9991 USD

common stock

Sale

10,749

38.9512 USD

common stock

Sale

9,642

38.9835 USD

common stock

Sale

8,652

38.9255 USD

common stock

Sale

7,908

38.9625 USD

common stock

Sale

7,196

39.0700 USD

common stock

Sale

6,702

39.0020 USD

common stock

Sale

6,687

38.9992 USD

common stock

Sale

5,418

38.8561 USD

common stock

Sale

5,244

38.8810 USD

common stock

Sale

4,507

38.9048 USD

common stock

Sale

4,437

39.0050 USD

common stock

Sale

4,009

38.8953 USD

common stock

Sale

3,551

38.9973 USD

common stock

Sale

3,400

38.9711 USD

common stock

Sale

3,192

38.8138 USD

common stock

Sale

2,689

38.8722 USD

common stock

Sale

2,400

38.9020 USD

common stock

Sale

1,971

38.9213 USD

common stock

Sale

1,800

38.9891 USD

common stock

Sale

1,731

38.9683 USD

common stock

Sale

1,675

39.0192 USD

common stock

Sale

1,245

39.0665 USD

common stock

Sale

1,023

38.9662 USD

common stock

Sale

915

38.9868 USD

common stock

Sale

793

38.8916 USD

common stock

Sale

701

38.8644 USD

common stock

Sale

601

38.9894 USD

common stock

Sale

576

38.7584 USD

common stock

Sale

557

38.9979 USD

common stock

Sale

555

38.9701 USD

common stock

Sale

542

39.0227 USD

common stock

Sale

538

38.9395 USD

common stock

Sale

531

38.9622 USD

common stock

Sale

530

39.0062 USD

common stock

Sale

516

39.0350 USD

common stock

Sale

371

38.9557 USD

common stock

Sale

332

39.0634 USD

common stock

Sale

300

39.0133 USD

common stock

Sale

300

38.9000 USD

common stock

Sale

300

38.9800 USD

common stock

Sale

300

39.0100 USD

common stock

Sale

278

39.0287 USD

common stock

Sale

247

39.0900 USD

common stock

Sale

243

38.9713 USD

common stock

Sale

216

38.9682 USD

common stock

Sale

210

39.0008 USD

common stock

Sale

200

39.0748 USD

common stock

Sale

200

39.0125 USD

common stock

Sale

200

39.0150 USD

common stock

Sale

200

38.9500 USD

common stock

Sale

200

38.9950 USD

common stock

Sale

200

38.7350 USD

common stock

Sale

200

38.8800 USD

common stock

Sale

165

39.0217 USD

common stock

Sale

160

38.9706 USD

common stock

Sale

152

39.0950 USD

common stock

Sale

140

39.0668 USD

common stock

Sale

108

39.0000 USD

common stock

Sale

100

38.9750 USD

common stock

Sale

100

38.7900 USD

common stock

Sale

100

38.7100 USD

common stock

Sale

64

38.9684 USD

common stock

Sale

50

38.7600 USD

common stock

Sale

37

38.8250 USD

common stock

Sale

32

39.0650 USD

common stock

Sale

32

39.0300 USD

common stock

Sale

-181,000

39.0234 USD

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

common stock

SWAP

Increasing Long

22,400

38.9592 USD

(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

12

USD

0.3000 USD

common stock

Put Options

Selling

1,400

38.0000 USD

American

12 Apr 2024

0.3500 USD

common stock

Call Options

Selling

34

USD

0.5926 USD

common stock

Call Options

Selling

6,500

40.0000 USD

American

17 May 2024

1.2023 USD

common stock

Call Options

Selling

73

USD

0.6349 USD

common stock

Put Options

Selling

13,300

38.0000 USD

American

17 May 2024

0.8116 USD

common stock

Put Options

Selling

3,400

40.0000 USD

American

17 May 2024

1.9500 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:

04 Apr 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213