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:

17 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:

727,707

0.21%

577,900

0.17%

(2)

Cash-settled derivatives:

and/or controlled:

324,435

0.09%

56,070

0.02%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,052,142

0.30%

633,970

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

155,363

40.6461 USD

common stock

Purchase

67,196

40.6360 USD

common stock

Purchase

36,453

40.6335 USD

common stock

Purchase

36,201

40.6334 USD

common stock

Purchase

28,317

40.6785 USD

common stock

Purchase

12,942

40.6426 USD

common stock

Purchase

11,941

40.6487 USD

common stock

Purchase

6,390

40.6813 USD

common stock

Purchase

5,777

40.6400 USD

common stock

Purchase

5,386

40.6333 USD

common stock

Purchase

4,027

40.6486 USD

common stock

Purchase

3,000

40.6106 USD

common stock

Purchase

3,000

40.6107 USD

common stock

Purchase

2,579

40.6579 USD

common stock

Purchase

1,032

40.6192 USD

common stock

Purchase

900

40.7744 USD

common stock

Purchase

686

40.7692 USD

common stock

Purchase

517

40.5984 USD

common stock

Purchase

490

40.6765 USD

common stock

Purchase

450

40.6448 USD

common stock

Purchase

414

40.7724 USD

common stock

Purchase

363

40.6555 USD

common stock

Purchase

363

40.6821 USD

common stock

Purchase

300

40.7666 USD

common stock

Purchase

300

40.5983 USD

common stock

Purchase

297

40.6718 USD

common stock

Purchase

228

40.5500 USD

common stock

Purchase

209

40.6200 USD

common stock

Purchase

200

40.5600 USD

common stock

Purchase

137

40.7063 USD

common stock

Purchase

120

40.6800 USD

common stock

Purchase

112

40.6700 USD

common stock

Purchase

100

40.6150 USD

common stock

Purchase

100

37.1200 EUR

common stock

Purchase

100

40.5800 USD

common stock

Purchase

100

40.5950 USD

common stock

Purchase

100

40.6300 USD

common stock

Purchase

100

40.6050 USD

common stock

Purchase

89

40.7463 USD

common stock

Purchase

51

40.7700 USD

common stock

Purchase

33

40.6500 USD

common stock

Purchase

1

40.6600 USD

common stock

Sale

99,831

40.6413 USD

common stock

Sale

73,013

40.6367 USD

common stock

Sale

36,453

40.6335 USD

common stock

Sale

23,985

40.6538 USD

common stock

Sale

17,233

40.6478 USD

common stock

Sale

14,358

40.6509 USD

common stock

Sale

13,998

40.6472 USD

common stock

Sale

12,826

40.7213 USD

common stock

Sale

11,967

40.6552 USD

common stock

Sale

7,324

40.6473 USD

common stock

Sale

6,025

40.6599 USD

common stock

Sale

5,731

40.6898 USD

common stock

Sale

5,262

40.6312 USD

common stock

Sale

5,057

40.5709 USD

common stock

Sale

4,935

40.6618 USD

common stock

Sale

4,775

40.6891 USD

common stock

Sale

3,920

40.6400 USD

common stock

Sale

3,592

40.6317 USD

common stock

Sale

3,517

40.7293 USD

common stock

Sale

3,504

40.6399 USD

common stock

Sale

3,000

40.6107 USD

common stock

Sale

3,000

40.6106 USD

common stock

Sale

2,885

40.6528 USD

common stock

Sale

2,454

40.6502 USD

common stock

Sale

2,432

40.6192 USD

common stock

Sale

2,351

40.7715 USD

common stock

Sale

2,260

40.6293 USD

common stock

Sale

2,259

40.6676 USD

common stock

Sale

1,686

40.6493 USD

common stock

Sale

1,500

40.6350 USD

common stock

Sale

1,400

40.6357 USD

common stock

Sale

1,273

40.6895 USD

common stock

Sale

1,212

40.6006 USD

common stock

Sale

600

40.6650 USD

common stock

Sale

598

40.6384 USD

common stock

Sale

490

40.6765 USD

common stock

Sale

463

40.6869 USD

common stock

Sale

450

40.6866 USD

common stock

Sale

450

40.6448 USD

common stock

Sale

400

40.6175 USD

common stock

Sale

390

40.6150 USD

common stock

Sale

382

40.6842 USD

common stock

Sale

363

40.6821 USD

common stock

Sale

250

40.6780 USD

common stock

Sale

244

40.6888 USD

common stock

Sale

228

40.5500 USD

common stock

Sale

201

40.6675 USD

common stock

Sale

200

40.6000 USD

common stock

Sale

120

40.6800 USD

common stock

Sale

100

37.1200 EUR

common stock

Sale

100

40.6050 USD

common stock

Sale

100

40.5600 USD

common stock

Sale

33

40.6500 USD

common stock

Sale

27

40.7200 USD

common stock

Sale

1

40.5150 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

600

USD

0.8000 USD

common stock

Call Options

Selling

4,700

USD

1.8625 USD

common stock

Call Options

Selling

21,600

USD

1.4150 USD

common stock

Call Options

Selling

6,800

USD

2.4227 USD

common stock

Call Options

Selling

9,700

USD

3.2896 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:

20 May 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213