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:

02 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:

734,258

0.21%

312,633

0.09%

(2)

Cash-settled derivatives:

and/or controlled:

129,943

0.04%

15,780

0.00%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

864,201

0.25%

328,413

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

92,704

38.6607 USD

common stock

Purchase

49,789

38.7003 USD

common stock

Purchase

36,828

38.5450 USD

common stock

Purchase

25,734

38.6254 USD

common stock

Purchase

17,879

38.6036 USD

common stock

Purchase

17,537

38.7000 USD

common stock

Purchase

16,624

38.6210 USD

common stock

Purchase

10,223

38.6902 USD

common stock

Purchase

6,367

38.5641 USD

common stock

Purchase

4,711

38.5231 USD

common stock

Purchase

4,521

38.5165 USD

common stock

Purchase

4,415

38.5093 USD

common stock

Purchase

3,357

38.6926 USD

common stock

Purchase

1,900

38.9126 USD

common stock

Purchase

1,390

38.6797 USD

common stock

Purchase

1,312

38.6535 USD

common stock

Purchase

1,024

38.8962 USD

common stock

Purchase

1,000

38.8940 USD

common stock

Purchase

969

38.5981 USD

common stock

Purchase

822

38.5859 USD

common stock

Purchase

762

38.6998 USD

common stock

Purchase

668

38.6189 USD

common stock

Purchase

630

38.6219 USD

common stock

Purchase

500

38.9120 USD

common stock

Purchase

500

38.9210 USD

common stock

Purchase

479

38.8850 USD

common stock

Purchase

284

38.9303 USD

common stock

Purchase

225

38.7100 USD

common stock

Purchase

205

38.7400 USD

common stock

Purchase

203

38.7315 USD

common stock

Purchase

202

38.3510 USD

common stock

Purchase

190

38.8250 USD

common stock

Purchase

189

38.9600 USD

common stock

Purchase

170

38.6894 USD

common stock

Purchase

165

38.6503 USD

common stock

Purchase

150

38.6486 USD

common stock

Purchase

103

35.9700 EUR

common stock

Purchase

100

38.7550 USD

common stock

Purchase

100

38.6950 USD

common stock

Purchase

100

38.6900 USD

common stock

Purchase

90

38.7850 USD

common stock

Purchase

43

38.5933 USD

common stock

Purchase

31

38.6525 USD

common stock

Purchase

26

38.6142 USD

common stock

Purchase

10

38.6000 USD

common stock

Purchase

1

38.6200 USD

common stock

Sale

139,870

38.6163 USD

common stock

Sale

30,233

38.7020 USD

common stock

Sale

25,734

38.6254 USD

common stock

Sale

14,643

38.6088 USD

common stock

Sale

13,518

38.5944 USD

common stock

Sale

11,867

38.7000 USD

common stock

Sale

10,940

38.7171 USD

common stock

Sale

9,374

38.6324 USD

common stock

Sale

8,479

38.6245 USD

common stock

Sale

7,523

38.6368 USD

common stock

Sale

6,367

38.5641 USD

common stock

Sale

5,973

38.6520 USD

common stock

Sale

5,397

38.9094 USD

common stock

Sale

4,823

38.6794 USD

common stock

Sale

2,985

38.6303 USD

common stock

Sale

2,379

38.7544 USD

common stock

Sale

1,534

38.6043 USD

common stock

Sale

1,494

38.5771 USD

common stock

Sale

1,390

38.6797 USD

common stock

Sale

1,273

38.6616 USD

common stock

Sale

1,200

38.5391 USD

common stock

Sale

1,099

38.6299 USD

common stock

Sale

1,084

38.7052 USD

common stock

Sale

862

38.7015 USD

common stock

Sale

800

38.5843 USD

common stock

Sale

707

38.6098 USD

common stock

Sale

630

38.6219 USD

common stock

Sale

479

38.8850 USD

common stock

Sale

450

38.7100 USD

common stock

Sale

424

38.6366 USD

common stock

Sale

400

38.8412 USD

common stock

Sale

300

38.8100 USD

common stock

Sale

190

38.8250 USD

common stock

Sale

115

38.4389 USD

common stock

Sale

103

35.9700 EUR

common stock

Sale

100

38.6950 USD

common stock

Sale

71

38.6496 USD

common stock

Sale

70

38.7850 USD

common stock

Sale

51

38.6900 USD

common stock

Sale

28

38.5805 USD

common stock

Sale

9

38.5716 USD

common stock

Sale

5

38.4700 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

22,200

38.6199 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

(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:

03 Apr 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213