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:

28 Mar 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:

719,639

0.21%

287,594

0.08%

(2)

Cash-settled derivatives:

and/or controlled:

99,853

0.03%

11,835

0.00%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

819,492

0.24%

299,429

0.09%

(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

192,701

39.0100 USD

common stock

Purchase

96,427

39.0200 USD

common stock

Purchase

83,502

38.9200 USD

common stock

Purchase

76,035

38.9145 USD

common stock

Purchase

56,470

38.9897 USD

common stock

Purchase

46,437

39.0683 USD

common stock

Purchase

35,475

38.9740 USD

common stock

Purchase

21,884

39.0722 USD

common stock

Purchase

21,611

38.8903 USD

common stock

Purchase

15,996

38.9655 USD

common stock

Purchase

13,812

38.8954 USD

common stock

Purchase

8,725

39.0042 USD

common stock

Purchase

5,643

38.8619 USD

common stock

Purchase

3,093

39.1120 USD

common stock

Purchase

2,974

38.9037 USD

common stock

Purchase

2,960

38.8942 USD

common stock

Purchase

2,825

38.9154 USD

common stock

Purchase

2,700

39.1569 USD

common stock

Purchase

2,596

38.8446 USD

common stock

Purchase

2,258

38.9066 USD

common stock

Purchase

2,163

38.8948 USD

common stock

Purchase

2,000

38.9803 USD

common stock

Purchase

1,600

39.0137 USD

common stock

Purchase

1,440

38.9284 USD

common stock

Purchase

1,391

38.9853 USD

common stock

Purchase

1,106

38.8787 USD

common stock

Purchase

1,000

38.9050 USD

common stock

Purchase

893

38.9587 USD

common stock

Purchase

778

38.8978 USD

common stock

Purchase

777

38.9080 USD

common stock

Purchase

400

38.9112 USD

common stock

Purchase

370

38.8413 USD

common stock

Purchase

288

38.9776 USD

common stock

Purchase

205

38.9600 USD

common stock

Purchase

203

38.9731 USD

common stock

Purchase

173

38.9271 USD

common stock

Purchase

170

39.0538 USD

common stock

Purchase

142

38.9060 USD

common stock

Purchase

137

38.8927 USD

common stock

Purchase

100

38.7800 USD

common stock

Purchase

92

38.7310 USD

common stock

Purchase

40

39.2900 USD

common stock

Purchase

10

36.3400 EUR

common stock

Purchase

5

38.8200 USD

common stock

Sale

195,270

38.9057 USD

common stock

Sale

140,603

39.0079 USD

common stock

Sale

62,827

39.0200 USD

common stock

Sale

43,677

39.0289 USD

common stock

Sale

38,834

39.0122 USD

common stock

Sale

36,043

39.0091 USD

common stock

Sale

28,353

39.0259 USD

common stock

Sale

21,884

39.0722 USD

common stock

Sale

16,267

38.9524 USD

common stock

Sale

15,996

38.9655 USD

common stock

Sale

9,071

38.9800 USD

common stock

Sale

9,047

39.0247 USD

common stock

Sale

7,482

39.0182 USD

common stock

Sale

7,210

39.1087 USD

common stock

Sale

6,417

39.0164 USD

common stock

Sale

5,643

38.8619 USD

common stock

Sale

5,310

39.0415 USD

common stock

Sale

4,796

38.9639 USD

common stock

Sale

4,550

38.9977 USD

common stock

Sale

4,398

38.9018 USD

common stock

Sale

3,950

38.9144 USD

common stock

Sale

3,553

38.9987 USD

common stock

Sale

2,950

38.9455 USD

common stock

Sale

2,591

38.8445 USD

common stock

Sale

2,400

39.0668 USD

common stock

Sale

2,000

38.9803 USD

common stock

Sale

2,000

39.0663 USD

common stock

Sale

1,408

39.1890 USD

common stock

Sale

1,276

38.8873 USD

common stock

Sale

1,166

38.9636 USD

common stock

Sale

1,100

39.0254 USD

common stock

Sale

1,009

38.9076 USD

common stock

Sale

1,000

38.9050 USD

common stock

Sale

776

38.9205 USD

common stock

Sale

760

39.1282 USD

common stock

Sale

746

38.9224 USD

common stock

Sale

700

38.9342 USD

common stock

Sale

672

38.8794 USD

common stock

Sale

664

38.9668 USD

common stock

Sale

531

38.9616 USD

common stock

Sale

506

39.1297 USD

common stock

Sale

500

38.9680 USD

common stock

Sale

500

39.0060 USD

common stock

Sale

460

38.8925 USD

common stock

Sale

400

39.0125 USD

common stock

Sale

340

38.9650 USD

common stock

Sale

330

39.1120 USD

common stock

Sale

308

39.1567 USD

common stock

Sale

300

38.9433 USD

common stock

Sale

300

38.7633 USD

common stock

Sale

279

38.8096 USD

common stock

Sale

259

38.8659 USD

common stock

Sale

248

39.0375 USD

common stock

Sale

247

38.9149 USD

common stock

Sale

227

39.1462 USD

common stock

Sale

204

38.9472 USD

common stock

Sale

200

38.9270 USD

common stock

Sale

186

38.9923 USD

common stock

Sale

165

39.0700 USD

common stock

Sale

155

39.0100 USD

common stock

Sale

142

39.1700 USD

common stock

Sale

105

39.0438 USD

common stock

Sale

100

38.8900 USD

common stock

Sale

100

38.7300 USD

common stock

Sale

100

39.0000 USD

common stock

Sale

100

39.1600 USD

common stock

Sale

91

38.9230 USD

common stock

Sale

42

38.8833 USD

common stock

Sale

42

38.9550 USD

common stock

Sale

40

38.8812 USD

common stock

Sale

40

38.9547 USD

common stock

Sale

40

39.2900 USD

common stock

Sale

37

38.9000 USD

common stock

Sale

35

38.9420 USD

common stock

Sale

33

39.0150 USD

common stock

Sale

28

39.0675 USD

common stock

Sale

18

38.9500 USD

common stock

Sale

11

38.8000 USD

common stock

Sale

10

36.3400 EUR

common stock

Sale

5

38.9200 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:

02 Apr 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213