Smith (DS) Regulatory News (SMDS)

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

DS SMITH PLC

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?

INTERNATIONAL PAPER COMPANY

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:

10p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

25,870,866

1.88%

19,228,903

1.39%

(2)

Cash-settled derivatives:

and/or controlled:

8,413,709

0.61%

24,520,664

1.78%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

34,284,575

2.49%

43,749,567

3.17%

(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

10p ordinary

Purchase

237,293

3.6931 GBP

10p ordinary

Purchase

114,257

3.6940 GBP

10p ordinary

Purchase

111,473

3.6872 GBP

10p ordinary

Purchase

89,717

3.6891 GBP

10p ordinary

Purchase

80,000

3.6809 GBP

10p ordinary

Purchase

62,127

3.6764 GBP

10p ordinary

Purchase

48,802

3.6916 GBP

10p ordinary

Purchase

47,902

3.6900 GBP

10p ordinary

Purchase

30,161

3.6841 GBP

10p ordinary

Purchase

27,787

3.6787 GBP

10p ordinary

Purchase

25,906

3.6936 GBP

10p ordinary

Purchase

23,050

3.6824 GBP

10p ordinary

Purchase

22,530

3.6833 GBP

10p ordinary

Purchase

17,112

3.6860 GBP

10p ordinary

Purchase

11,951

3.6829 GBP

10p ordinary

Purchase

11,860

3.6832 GBP

10p ordinary

Purchase

11,750

3.6816 GBP

10p ordinary

Purchase

9,944

3.6843 GBP

10p ordinary

Purchase

9,287

3.6879 GBP

10p ordinary

Purchase

8,017

3.6877 GBP

10p ordinary

Purchase

7,500

3.6659 GBP

10p ordinary

Purchase

6,153

3.6775 GBP

10p ordinary

Purchase

5,897

3.6720 GBP

10p ordinary

Purchase

5,342

3.6821 GBP

10p ordinary

Purchase

5,008

3.6945 GBP

10p ordinary

Purchase

4,731

3.6788 GBP

10p ordinary

Purchase

4,664

3.6797 GBP

10p ordinary

Purchase

3,563

3.6620 GBP

10p ordinary

Purchase

3,250

3.6761 GBP

10p ordinary

Purchase

1,629

3.6870 GBP

10p ordinary

Purchase

1,471

3.6800 GBP

10p ordinary

Purchase

973

3.6754 GBP

10p ordinary

Purchase

914

3.6920 GBP

10p ordinary

Purchase

898

3.6926 GBP

10p ordinary

Purchase

842

3.6820 GBP

10p ordinary

Purchase

773

3.6680 GBP

10p ordinary

Purchase

750

3.6740 GBP

10p ordinary

Purchase

20

3.6846 GBP

10p ordinary

Sale

392,455

3.6940 GBP

10p ordinary

Sale

215,000

3.6869 GBP

10p ordinary

Sale

118,685

3.6876 GBP

10p ordinary

Sale

58,648

3.6854 GBP

10p ordinary

Sale

56,359

3.6917 GBP

10p ordinary

Sale

51,244

3.6873 GBP

10p ordinary

Sale

48,802

3.6916 GBP

10p ordinary

Sale

35,045

3.6848 GBP

10p ordinary

Sale

30,451

3.6792 GBP

10p ordinary

Sale

24,186

3.6941 GBP

10p ordinary

Sale

18,034

3.6811 GBP

10p ordinary

Sale

17,206

3.6860 GBP

10p ordinary

Sale

15,879

3.6823 GBP

10p ordinary

Sale

13,606

3.6867 GBP

10p ordinary

Sale

11,860

3.6832 GBP

10p ordinary

Sale

10,000

3.6672 GBP

10p ordinary

Sale

9,890

3.6808 GBP

10p ordinary

Sale

8,017

3.6877 GBP

10p ordinary

Sale

5,960

3.6773 GBP

10p ordinary

Sale

5,850

3.6804 GBP

10p ordinary

Sale

5,342

3.6821 GBP

10p ordinary

Sale

5,017

3.6874 GBP

10p ordinary

Sale

4,664

3.6797 GBP

10p ordinary

Sale

3,759

3.6782 GBP

10p ordinary

Sale

3,220

3.6801 GBP

10p ordinary

Sale

3,080

3.6798 GBP

10p ordinary

Sale

2,922

3.6896 GBP

10p ordinary

Sale

2,617

3.6663 GBP

10p ordinary

Sale

2,502

3.6751 GBP

10p ordinary

Sale

2,141

3.6846 GBP

10p ordinary

Sale

2,073

3.6812 GBP

10p ordinary

Sale

1,955

3.6760 GBP

10p ordinary

Sale

1,642

3.6900 GBP

10p ordinary

Sale

1,641

3.6870 GBP

10p ordinary

Sale

1,397

3.6920 GBP

10p ordinary

Sale

1,343

3.6560 GBP

10p ordinary

Sale

972

3.6810 GBP

10p ordinary

Sale

897

3.6840 GBP

10p ordinary

Sale

786

3.6820 GBP

10p ordinary

Sale

744

3.6680 GBP

10p ordinary

Sale

597

3.6780 GBP

10p ordinary

Sale

460

3.6830 GBP

10p ordinary

Sale

402

3.6838 GBP

10p ordinary

Sale

279

3.6880 GBP

10p ordinary

Sale

139

3.6794 GBP

10p ordinary

Sale

6

3.6918 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

10p ordinary

SWAP

Decreasing Long

773

3.6680 GBP

10p ordinary

SWAP

Decreasing Long

2,045

3.6900 GBP

10p ordinary

SWAP

Decreasing Long

5,008

3.6945 GBP

10p ordinary

SWAP

Decreasing Short

28

3.6600 GBP

10p ordinary

SWAP

Decreasing Short

162

3.6920 GBP

10p ordinary

SWAP

Decreasing Short

279

3.6880 GBP

10p ordinary

CFD

Decreasing Short

318

3.6939 GBP

10p ordinary

SWAP

Decreasing Short

594

3.6760 GBP

10p ordinary

CFD

Decreasing Short

914

3.6920 GBP

10p ordinary

SWAP

Decreasing Short

2,617

3.6663 GBP

10p ordinary

SWAP

Decreasing Short

14,866

3.6939 GBP

10p ordinary

SWAP

Decreasing Short

25,723

3.6940 GBP

10p ordinary

CFD

Decreasing Short

33,298

3.6869 GBP

10p ordinary

SWAP

Decreasing Short

61,500

3.6869 GBP

10p ordinary

SWAP

Decreasing Short

153,500

3.6869 GBP

10p ordinary

CFD

Decreasing Short

236,631

3.6940 GBP

10p ordinary

SWAP

Increasing Long

15,817

3.6823 GBP

10p ordinary

CFD

Increasing Short

245

3.6940 GBP

10p ordinary

SWAP

Increasing Short

3,250

3.6761 GBP

10p ordinary

SWAP

Increasing Short

5,897

3.6720 GBP

10p ordinary

SWAP

Increasing Short

23,652

3.6940 GBP

10p ordinary

SWAP

Increasing Short

24,983

3.6926 GBP

10p ordinary

SWAP

Increasing Short

27,787

3.6787 GBP

10p ordinary

SWAP

Increasing Short

28,922

3.6828 GBP

10p ordinary

SWAP

Increasing Short

39,149

3.6836 GBP

10p ordinary

SWAP

Increasing Short

43,729

3.6940 GBP

10p ordinary

SWAP

Increasing Short

62,127

3.6764 GBP

10p ordinary

SWAP

Increasing Short

89,717

3.6891 GBP

10p ordinary

CFD

Increasing Short

105,477

3.6939 GBP

10p ordinary

SWAP

Opening Long

54,199

3.6831 GBP

(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