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 COMPANY

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:

15 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:

667,354

0.19%

578,363

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:

979,774

0.28%

626,423

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

181,000

39.8500 USD

common stock

Purchase

181,000

40.0181 USD

common stock

Purchase

150,677

39.7314 USD

common stock

Purchase

91,779

39.7100 USD

common stock

Purchase

74,880

39.8509 USD

common stock

Purchase

32,810

39.8180 USD

common stock

Purchase

22,162

39.7188 USD

common stock

Purchase

20,832

39.8503 USD

common stock

Purchase

11,252

39.8725 USD

common stock

Purchase

10,960

39.8282 USD

common stock

Purchase

8,818

39.7383 USD

common stock

Purchase

8,020

39.8213 USD

common stock

Purchase

7,194

39.8338 USD

common stock

Purchase

6,693

39.8150 USD

common stock

Purchase

3,833

39.8060 USD

common stock

Purchase

3,353

39.8772 USD

common stock

Purchase

3,052

39.9088 USD

common stock

Purchase

2,499

39.8543 USD

common stock

Purchase

1,223

39.8319 USD

common stock

Purchase

646

39.7979 USD

common stock

Purchase

576

39.8491 USD

common stock

Purchase

337

39.6986 USD

common stock

Purchase

300

39.8933 USD

common stock

Purchase

300

39.8350 USD

common stock

Purchase

300

39.6388 USD

common stock

Purchase

233

39.9044 USD

common stock

Purchase

175

40.0007 USD

common stock

Purchase

154

39.7000 USD

common stock

Purchase

144

39.8863 USD

common stock

Purchase

107

36.7700 EUR

common stock

Purchase

100

39.6700 USD

common stock

Purchase

100

40.2000 USD

common stock

Purchase

61

39.8721 USD

common stock

Purchase

56

39.8100 USD

common stock

Purchase

30

40.0733 USD

common stock

Purchase

20

40.1000 USD

common stock

Purchase

1

39.7200 USD

common stock

Sale

224,719

39.7629 USD

common stock

Sale

39,433

39.7100 USD

common stock

Sale

30,461

39.7404 USD

common stock

Sale

21,496

39.8057 USD

common stock

Sale

21,100

39.7104 USD

common stock

Sale

15,420

39.8950 USD

common stock

Sale

14,292

39.9285 USD

common stock

Sale

13,219

39.8439 USD

common stock

Sale

11,307

39.7184 USD

common stock

Sale

10,146

39.8653 USD

common stock

Sale

8,861

40.0110 USD

common stock

Sale

8,096

39.8238 USD

common stock

Sale

7,658

39.8458 USD

common stock

Sale

3,543

39.8723 USD

common stock

Sale

2,743

39.7096 USD

common stock

Sale

2,028

39.7518 USD

common stock

Sale

1,877

39.7866 USD

common stock

Sale

1,515

39.8047 USD

common stock

Sale

1,500

39.7843 USD

common stock

Sale

1,294

39.8523 USD

common stock

Sale

1,237

39.9348 USD

common stock

Sale

1,214

39.6972 USD

common stock

Sale

1,035

39.8676 USD

common stock

Sale

792

39.7411 USD

common stock

Sale

711

39.8071 USD

common stock

Sale

576

39.9372 USD

common stock

Sale

576

39.8491 USD

common stock

Sale

511

39.9593 USD

common stock

Sale

493

39.9114 USD

common stock

Sale

426

39.8751 USD

common stock

Sale

412

39.8944 USD

common stock

Sale

394

39.7790 USD

common stock

Sale

296

39.7766 USD

common stock

Sale

271

39.7357 USD

common stock

Sale

262

39.9140 USD

common stock

Sale

252

39.8275 USD

common stock

Sale

245

39.8042 USD

common stock

Sale

235

39.9168 USD

common stock

Sale

202

39.7285 USD

common stock

Sale

146

39.7073 USD

common stock

Sale

144

39.8863 USD

common stock

Sale

110

39.9859 USD

common stock

Sale

107

36.7700 EUR

common stock

Sale

100

39.6700 USD

common stock

Sale

100

39.7000 USD

common stock

Sale

100

39.9500 USD

common stock

Sale

100

39.6900 USD

common stock

Sale

88

39.7800 USD

common stock

Sale

40

40.0187 USD

common stock

Sale

30

40.0733 USD

common stock

Sale

25

39.8100 USD

common stock

Sale

20

40.1000 USD

common stock

Sale

3

39.9900 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

common stock

Call Options

Selling

2,000

38.0000 USD

American

16 Aug 2024

3.8000 USD

common stock

Call Options

Selling

5,700

40.0000 USD

American

16 Aug 2024

2.6008 USD

common stock

Put Options

Selling

10,500

35.0000 USD

American

16 Aug 2024

0.8000 USD

common stock

Call Options

Selling

7,400

43.0000 USD

American

16 Aug 2024

1.5243 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:

16 May 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213