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:

14 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:

24,711,781

1.79%

19,147,293

1.39%

(2)

Cash-settled derivatives:

and/or controlled:

8,165,075

0.59%

23,282,256

1.69%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

32,876,856

2.38%

42,429,549

3.08%

(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

632,888

3.7001 GBP

10p ordinary

Purchase

415,725

3.7231 GBP

10p ordinary

Purchase

215,000

3.7060 GBP

10p ordinary

Purchase

179,924

3.7000 GBP

10p ordinary

Purchase

140,000

3.7025 GBP

10p ordinary

Purchase

127,767

3.6995 GBP

10p ordinary

Purchase

110,661

3.6991 GBP

10p ordinary

Purchase

100,000

3.6946 GBP

10p ordinary

Purchase

50,847

3.6939 GBP

10p ordinary

Purchase

40,453

3.6984 GBP

10p ordinary

Purchase

28,282

3.7109 GBP

10p ordinary

Purchase

25,646

3.7206 GBP

10p ordinary

Purchase

17,999

3.7199 GBP

10p ordinary

Purchase

17,646

3.7042 GBP

10p ordinary

Purchase

17,590

3.7179 GBP

10p ordinary

Purchase

15,717

3.6940 GBP

10p ordinary

Purchase

14,923

3.7211 GBP

10p ordinary

Purchase

12,295

3.6919 GBP

10p ordinary

Purchase

8,670

3.6955 GBP

10p ordinary

Purchase

7,850

3.7210 GBP

10p ordinary

Purchase

7,737

3.7006 GBP

10p ordinary

Purchase

6,488

3.6916 GBP

10p ordinary

Purchase

6,414

3.7014 GBP

10p ordinary

Purchase

5,821

3.7193 GBP

10p ordinary

Purchase

4,177

3.7120 GBP

10p ordinary

Purchase

4,140

3.7033 GBP

10p ordinary

Purchase

3,614

3.7005 GBP

10p ordinary

Purchase

3,361

3.7200 GBP

10p ordinary

Purchase

3,327

3.6996 GBP

10p ordinary

Purchase

2,946

3.6913 GBP

10p ordinary

Purchase

2,644

3.6960 GBP

10p ordinary

Purchase

2,405

3.7171 GBP

10p ordinary

Purchase

2,357

3.7004 GBP

10p ordinary

Purchase

2,234

3.6950 GBP

10p ordinary

Purchase

1,723

3.6976 GBP

10p ordinary

Purchase

1,676

3.7008 GBP

10p ordinary

Purchase

1,506

3.6860 GBP

10p ordinary

Purchase

1,498

3.7244 GBP

10p ordinary

Purchase

1,397

3.7096 GBP

10p ordinary

Purchase

1,272

3.6981 GBP

10p ordinary

Purchase

1,101

3.7130 GBP

10p ordinary

Purchase

785

3.6867 GBP

10p ordinary

Purchase

736

3.7100 GBP

10p ordinary

Purchase

256

3.6989 GBP

10p ordinary

Purchase

147

3.7300 GBP

10p ordinary

Sale

274,291

3.7114 GBP

10p ordinary

Sale

266,817

3.7055 GBP

10p ordinary

Sale

147,561

3.6917 GBP

10p ordinary

Sale

138,857

3.7000 GBP

10p ordinary

Sale

127,218

3.7162 GBP

10p ordinary

Sale

120,438

3.6813 GBP

10p ordinary

Sale

106,631

3.6926 GBP

10p ordinary

Sale

102,586

3.7133 GBP

10p ordinary

Sale

102,586

3.7141 GBP

10p ordinary

Sale

89,350

3.6954 GBP

10p ordinary

Sale

88,852

3.7078 GBP

10p ordinary

Sale

80,435

3.7142 GBP

10p ordinary

Sale

64,322

3.7002 GBP

10p ordinary

Sale

50,643

3.7204 GBP

10p ordinary

Sale

49,735

3.6913 GBP

10p ordinary

Sale

42,564

3.7086 GBP

10p ordinary

Sale

34,009

3.7131 GBP

10p ordinary

Sale

30,331

3.7175 GBP

10p ordinary

Sale

29,106

3.7015 GBP

10p ordinary

Sale

18,483

3.7172 GBP

10p ordinary

Sale

14,980

3.7137 GBP

10p ordinary

Sale

14,923

3.7211 GBP

10p ordinary

Sale

14,543

3.6996 GBP

10p ordinary

Sale

8,882

3.7203 GBP

10p ordinary

Sale

8,670

3.6955 GBP

10p ordinary

Sale

7,467

3.7016 GBP

10p ordinary

Sale

7,278

3.7235 GBP

10p ordinary

Sale

7,236

3.7199 GBP

10p ordinary

Sale

7,024

3.7206 GBP

10p ordinary

Sale

6,851

3.7022 GBP

10p ordinary

Sale

6,567

3.6973 GBP

10p ordinary

Sale

5,874

3.7196 GBP

10p ordinary

Sale

5,821

3.7193 GBP

10p ordinary

Sale

5,131

3.7132 GBP

10p ordinary

Sale

4,864

3.6937 GBP

10p ordinary

Sale

4,700

3.6938 GBP

10p ordinary

Sale

3,995

3.7023 GBP

10p ordinary

Sale

3,371

3.7103 GBP

10p ordinary

Sale

3,155

3.6960 GBP

10p ordinary

Sale

2,618

3.7076 GBP

10p ordinary

Sale

2,405

3.7171 GBP

10p ordinary

Sale

2,166

3.7262 GBP

10p ordinary

Sale

2,069

3.7102 GBP

10p ordinary

Sale

1,757

3.6919 GBP

10p ordinary

Sale

1,723

3.6976 GBP

10p ordinary

Sale

1,676

3.7008 GBP

10p ordinary

Sale

1,506

3.6860 GBP

10p ordinary

Sale

1,504

3.6940 GBP

10p ordinary

Sale

1,498

3.7244 GBP

10p ordinary

Sale

1,412

3.6934 GBP

10p ordinary

Sale

1,216

3.7110 GBP

10p ordinary

Sale

1,216

3.6992 GBP

10p ordinary

Sale

876

3.7080 GBP

10p ordinary

Sale

829

3.6980 GBP

10p ordinary

Sale

826

3.7240 GBP

10p ordinary

Sale

785

3.6867 GBP

10p ordinary

Sale

736

3.7100 GBP

10p ordinary

Sale

527

3.7200 GBP

10p ordinary

Sale

419

3.7300 GBP

10p ordinary

Sale

302

3.7220 GBP

10p ordinary

Sale

109

3.7180 GBP

10p ordinary

Sale

1

3.7139 GBP

10p ordinary

Sale

-105

3.6989 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

3,614

3.7005 GBP

10p ordinary

SWAP

Decreasing Long

17,590

3.7179 GBP

10p ordinary

SWAP

Decreasing Short

1,041

3.7000 GBP

10p ordinary

SWAP

Decreasing Short

1,392

3.7000 GBP

10p ordinary

SWAP

Decreasing Short

22,962

3.6997 GBP

10p ordinary

CFD

Decreasing Short

40,142

3.7000 GBP

10p ordinary

CFD

Decreasing Short

58,988

3.7193 GBP

10p ordinary

SWAP

Decreasing Short

80,435

3.7142 GBP

10p ordinary

SWAP

Decreasing Short

205,172

3.7137 GBP

10p ordinary

SWAP

Decreasing Short

274,291

3.7114 GBP

10p ordinary

SWAP

Increasing Long

1

3.7139 GBP

10p ordinary

SWAP

Increasing Short

527

3.7200 GBP

10p ordinary

SWAP

Increasing Short

1,272

3.6981 GBP

10p ordinary

SWAP

Increasing Short

4,177

3.7120 GBP

10p ordinary

SWAP

Increasing Short

6,414

3.7014 GBP

10p ordinary

SWAP

Increasing Short

17,646

3.7042 GBP

10p ordinary

CFD

Increasing Short

44,465

3.6989 GBP

10p ordinary

SWAP

Increasing Short

52,977

3.7000 GBP

10p ordinary

SWAP

Increasing Short

61,000

3.7060 GBP

10p ordinary

CFD

Increasing Short

65,604

3.7000 GBP

10p ordinary

SWAP

Increasing Short

154,000

3.7060 GBP

10p ordinary

SWAP

Increasing Short

415,725

3.7231 GBP

10p ordinary

SWAP

Opening Long

60,639

3.7077 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:

15 May 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213