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:

21 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:

26,900,392

1.95%

19,338,458

1.40%

(2)

Cash-settled derivatives:

and/or controlled:

8,162,376

0.59%

25,377,579

1.84%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

35,062,768

2.54%

44,716,037

3.24%

(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

552,677

3.6826 GBP

10p ordinary

Purchase

527,150

3.6750 GBP

10p ordinary

Purchase

249,206

3.6888 GBP

10p ordinary

Purchase

206,663

3.6718 GBP

10p ordinary

Purchase

186,673

3.6825 GBP

10p ordinary

Purchase

158,720

3.6874 GBP

10p ordinary

Purchase

117,815

3.6740 GBP

10p ordinary

Purchase

107,044

3.6846 GBP

10p ordinary

Purchase

100,000

3.6749 GBP

10p ordinary

Purchase

92,039

3.6837 GBP

10p ordinary

Purchase

85,889

3.6720 GBP

10p ordinary

Purchase

68,850

3.7570 GBP

10p ordinary

Purchase

32,565

3.6823 GBP

10p ordinary

Purchase

30,122

3.6844 GBP

10p ordinary

Purchase

23,926

3.6851 GBP

10p ordinary

Purchase

16,536

3.6780 GBP

10p ordinary

Purchase

12,633

3.6824 GBP

10p ordinary

Purchase

11,072

3.6792 GBP

10p ordinary

Purchase

9,086

3.6746 GBP

10p ordinary

Purchase

8,112

3.6806 GBP

10p ordinary

Purchase

7,063

3.6809 GBP

10p ordinary

Purchase

6,551

3.6786 GBP

10p ordinary

Purchase

4,619

3.6859 GBP

10p ordinary

Purchase

3,983

3.6758 GBP

10p ordinary

Purchase

3,095

3.6766 GBP

10p ordinary

Purchase

2,722

3.6890 GBP

10p ordinary

Purchase

2,510

3.6849 GBP

10p ordinary

Purchase

2,088

3.6781 GBP

10p ordinary

Purchase

1,651

3.6840 GBP

10p ordinary

Purchase

1,335

3.6951 GBP

10p ordinary

Purchase

1,307

3.6920 GBP

10p ordinary

Purchase

1,212

3.6820 GBP

10p ordinary

Purchase

1,027

3.7020 GBP

10p ordinary

Purchase

898

3.6600 GBP

10p ordinary

Purchase

311

3.6814 GBP

10p ordinary

Purchase

156

3.6940 GBP

10p ordinary

Purchase

16

3.6709 GBP

10p ordinary

Sale

439,930

3.6720 GBP

10p ordinary

Sale

250,827

3.6749 GBP

10p ordinary

Sale

185,868

3.6733 GBP

10p ordinary

Sale

127,090

3.6772 GBP

10p ordinary

Sale

95,894

3.6890 GBP

10p ordinary

Sale

40,755

3.6849 GBP

10p ordinary

Sale

37,849

3.6889 GBP

10p ordinary

Sale

33,426

3.6941 GBP

10p ordinary

Sale

32,629

3.6861 GBP

10p ordinary

Sale

25,558

3.6700 GBP

10p ordinary

Sale

25,362

3.6884 GBP

10p ordinary

Sale

13,148

3.6887 GBP

10p ordinary

Sale

5,950

3.6793 GBP

10p ordinary

Sale

4,665

3.6883 GBP

10p ordinary

Sale

3,803

3.6936 GBP

10p ordinary

Sale

3,137

3.6847 GBP

10p ordinary

Sale

2,956

3.6920 GBP

10p ordinary

Sale

2,621

3.6825 GBP

10p ordinary

Sale

2,500

3.6786 GBP

10p ordinary

Sale

2,100

3.6800 GBP

10p ordinary

Sale

1,894

3.6713 GBP

10p ordinary

Sale

1,685

3.6898 GBP

10p ordinary

Sale

1,665

3.6828 GBP

10p ordinary

Sale

1,307

3.6921 GBP

10p ordinary

Sale

1,212

3.6820 GBP

10p ordinary

Sale

1,027

3.7020 GBP

10p ordinary

Sale

921

3.6791 GBP

10p ordinary

Sale

880

3.6780 GBP

10p ordinary

Sale

713

3.6840 GBP

10p ordinary

Sale

525

3.6680 GBP

10p ordinary

Sale

524

3.6773 GBP

10p ordinary

Sale

379

3.6860 GBP

10p ordinary

Sale

95

3.6830 GBP

10p ordinary

Sale

39

3.6709 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

Closing Short

6,791

3.6720 GBP

10p ordinary

SWAP

Decreasing Long

156

3.6940 GBP

10p ordinary

SWAP

Decreasing Long

92,039

3.6837 GBP

10p ordinary

CFD

Decreasing Short

10

3.7140 GBP

10p ordinary

SWAP

Decreasing Short

524

3.6773 GBP

10p ordinary

SWAP

Decreasing Short

3,803

3.6937 GBP

10p ordinary

SWAP

Decreasing Short

14,795

3.6851 GBP

10p ordinary

SWAP

Decreasing Short

40,755

3.6849 GBP

10p ordinary

SWAP

Decreasing Short

64,770

3.6812 GBP

10p ordinary

CFD

Decreasing Short

84,462

3.6719 GBP

10p ordinary

SWAP

Decreasing Short

127,090

3.6772 GBP

10p ordinary

CFD

Decreasing Short

261,443

3.6720 GBP

10p ordinary

SWAP

Increasing Long

921

3.6791 GBP

10p ordinary

CFD

Increasing Short

138

3.6720 GBP

10p ordinary

SWAP

Increasing Short

473

3.6920 GBP

10p ordinary

CFD

Increasing Short

1,212

3.6819 GBP

10p ordinary

SWAP

Increasing Short

1,335

3.6951 GBP

10p ordinary

SWAP

Increasing Short

4,619

3.6859 GBP

10p ordinary

CFD

Increasing Short

30,187

3.6728 GBP

10p ordinary

SWAP

Increasing Short

70,444

3.6837 GBP

10p ordinary

SWAP

Increasing Short

97,890

3.6844 GBP

10p ordinary

SWAP

Increasing Short

100,000

3.6749 GBP

10p ordinary

SWAP

Increasing Short

158,720

3.6874 GBP

10p ordinary

SWAP

Increasing Short

186,673

3.6825 GBP

10p ordinary

SWAP

Increasing Short

360,639

3.6720 GBP

10p ordinary

SWAP

Increasing Short

552,677

3.6826 GBP

10p ordinary

SWAP

Opening Long

13,317

3.6818 GBP

10p ordinary

SWAP

Opening Short

211,000

3.6789 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:

22 May 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213