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:

16 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:

692,910

0.20%

580,518

0.17%

(2)

Cash-settled derivatives:

and/or controlled:

312,420

0.09%

48,060

0.01%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,005,330

0.29%

628,578

0.18%

(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

193,713

40.4618 USD

common stock

Purchase

187,810

40.4852 USD

common stock

Purchase

78,834

40.5200 USD

common stock

Purchase

36,345

40.5660 USD

common stock

Purchase

28,539

40.5199 USD

common stock

Purchase

24,738

40.4847 USD

common stock

Purchase

20,405

40.4433 USD

common stock

Purchase

18,543

40.2981 USD

common stock

Purchase

17,443

40.4650 USD

common stock

Purchase

16,261

40.3849 USD

common stock

Purchase

13,367

40.3463 USD

common stock

Purchase

11,192

40.4296 USD

common stock

Purchase

8,538

40.4766 USD

common stock

Purchase

8,213

40.3351 USD

common stock

Purchase

6,220

40.2487 USD

common stock

Purchase

4,877

40.3167 USD

common stock

Purchase

4,584

40.4639 USD

common stock

Purchase

3,578

40.3572 USD

common stock

Purchase

3,362

40.3663 USD

common stock

Purchase

3,221

40.3106 USD

common stock

Purchase

2,259

40.5013 USD

common stock

Purchase

1,894

40.4431 USD

common stock

Purchase

1,665

40.5402 USD

common stock

Purchase

1,066

40.3409 USD

common stock

Purchase

1,040

40.3946 USD

common stock

Purchase

1,003

40.4822 USD

common stock

Purchase

786

40.5365 USD

common stock

Purchase

615

40.4581 USD

common stock

Purchase

540

40.4839 USD

common stock

Purchase

462

40.4963 USD

common stock

Purchase

440

40.3350 USD

common stock

Purchase

388

40.5319 USD

common stock

Purchase

344

40.5144 USD

common stock

Purchase

216

40.3201 USD

common stock

Purchase

200

40.4950 USD

common stock

Purchase

157

40.4162 USD

common stock

Purchase

100

40.4500 USD

common stock

Purchase

100

40.5900 USD

common stock

Purchase

68

40.5600 USD

common stock

Purchase

5

39.7800 USD

common stock

Purchase

3

40.4800 USD

common stock

Purchase

2

39.8300 USD

common stock

Sale

153,881

40.5107 USD

common stock

Sale

87,074

40.3389 USD

common stock

Sale

73,361

40.4808 USD

common stock

Sale

71,731

40.4839 USD

common stock

Sale

55,813

40.5200 USD

common stock

Sale

39,086

40.5060 USD

common stock

Sale

35,091

40.4710 USD

common stock

Sale

28,239

40.5199 USD

common stock

Sale

28,146

40.4131 USD

common stock

Sale

22,539

40.4545 USD

common stock

Sale

16,613

40.3928 USD

common stock

Sale

16,302

40.4252 USD

common stock

Sale

8,865

40.4988 USD

common stock

Sale

5,900

40.4931 USD

common stock

Sale

5,838

40.4533 USD

common stock

Sale

5,274

40.4514 USD

common stock

Sale

4,176

40.4601 USD

common stock

Sale

2,461

40.4282 USD

common stock

Sale

2,279

40.4279 USD

common stock

Sale

2,171

40.4983 USD

common stock

Sale

2,102

40.2420 USD

common stock

Sale

1,665

40.5402 USD

common stock

Sale

1,200

40.4000 USD

common stock

Sale

1,109

40.4624 USD

common stock

Sale

1,095

40.4810 USD

common stock

Sale

1,003

40.4822 USD

common stock

Sale

840

40.3888 USD

common stock

Sale

797

40.4371 USD

common stock

Sale

739

40.4960 USD

common stock

Sale

579

40.4745 USD

common stock

Sale

529

40.2167 USD

common stock

Sale

516

40.5293 USD

common stock

Sale

485

40.4772 USD

common stock

Sale

461

40.4232 USD

common stock

Sale

409

40.5545 USD

common stock

Sale

400

40.4850 USD

common stock

Sale

400

40.3952 USD

common stock

Sale

399

40.3094 USD

common stock

Sale

396

40.4747 USD

common stock

Sale

388

40.5319 USD

common stock

Sale

344

40.5144 USD

common stock

Sale

302

40.1700 USD

common stock

Sale

216

40.3201 USD

common stock

Sale

100

40.6150 USD

common stock

Sale

100

40.5700 USD

common stock

Sale

100

40.4600 USD

common stock

Sale

88

40.5750 USD

common stock

Sale

67

40.3100 USD

common stock

Sale

20

40.4650 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

(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:

17 May 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213