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:

23 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?

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:

13,235,048

0.96%

8,461,541

0.61%

(2)

Cash-settled derivatives:

and/or controlled:

7,530,632

0.55%

11,016,663

0.80%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

20,765,680

1.51%

19,478,204

1.41%

(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

2,799,000

3.5320 GBP

10p ordinary

Purchase

1,338,539

3.4920 GBP

10p ordinary

Purchase

1,283,472

3.4975 GBP

10p ordinary

Purchase

723,970

3.4986 GBP

10p ordinary

Purchase

499,387

3.4957 GBP

10p ordinary

Purchase

352,195

3.4978 GBP

10p ordinary

Purchase

316,130

3.5002 GBP

10p ordinary

Purchase

272,523

3.4912 GBP

10p ordinary

Purchase

210,676

3.4980 GBP

10p ordinary

Purchase

148,182

3.4913 GBP

10p ordinary

Purchase

113,259

3.4968 GBP

10p ordinary

Purchase

88,731

3.4994 GBP

10p ordinary

Purchase

87,675

3.4931 GBP

10p ordinary

Purchase

86,349

3.4869 GBP

10p ordinary

Purchase

82,316

3.4969 GBP

10p ordinary

Purchase

70,328

3.5010 GBP

10p ordinary

Purchase

61,253

3.4929 GBP

10p ordinary

Purchase

55,526

3.4960 GBP

10p ordinary

Purchase

50,660

3.6038 GBP

10p ordinary

Purchase

46,752

3.4972 GBP

10p ordinary

Purchase

44,571

3.4987 GBP

10p ordinary

Purchase

39,722

3.4892 GBP

10p ordinary

Purchase

37,537

3.4964 GBP

10p ordinary

Purchase

37,500

3.4982 GBP

10p ordinary

Purchase

31,708

3.4970 GBP

10p ordinary

Purchase

27,395

3.5063 GBP

10p ordinary

Purchase

25,768

3.4940 GBP

10p ordinary

Purchase

23,361

3.4932 GBP

10p ordinary

Purchase

23,250

3.5014 GBP

10p ordinary

Purchase

14,452

3.5000 GBP

10p ordinary

Purchase

10,170

3.4995 GBP

10p ordinary

Purchase

8,234

3.4962 GBP

10p ordinary

Purchase

7,580

3.5040 GBP

10p ordinary

Purchase

6,122

3.5020 GBP

10p ordinary

Purchase

5,528

3.5100 GBP

10p ordinary

Purchase

5,264

3.4988 GBP

10p ordinary

Purchase

4,785

3.4880 GBP

10p ordinary

Purchase

4,737

3.4950 GBP

10p ordinary

Purchase

4,653

3.5080 GBP

10p ordinary

Purchase

4,621

3.4902 GBP

10p ordinary

Purchase

4,463

3.5030 GBP

10p ordinary

Purchase

4,207

3.4990 GBP

10p ordinary

Purchase

3,578

3.4800 GBP

10p ordinary

Purchase

3,342

3.4976 GBP

10p ordinary

Purchase

3,191

3.4949 GBP

10p ordinary

Purchase

3,060

3.4904 GBP

10p ordinary

Purchase

3,028

3.5012 GBP

10p ordinary

Purchase

2,942

3.4640 GBP

10p ordinary

Purchase

2,932

3.4959 GBP

10p ordinary

Purchase

2,542

3.4900 GBP

10p ordinary

Purchase

2,500

3.4840 GBP

10p ordinary

Purchase

1,808

3.5150 GBP

10p ordinary

Purchase

1,734

3.4760 GBP

10p ordinary

Purchase

1,618

3.5140 GBP

10p ordinary

Purchase

1,581

3.5180 GBP

10p ordinary

Purchase

1,410

3.5120 GBP

10p ordinary

Purchase

1,003

3.4977 GBP

10p ordinary

Purchase

880

3.5050 GBP

10p ordinary

Purchase

812

3.5220 GBP

10p ordinary

Purchase

801

3.4820 GBP

10p ordinary

Purchase

796

3.4780 GBP

10p ordinary

Purchase

774

3.5060 GBP

10p ordinary

Purchase

741

3.4860 GBP

10p ordinary

Purchase

301

3.4896 GBP

10p ordinary

Purchase

62

3.4831 GBP

10p ordinary

Purchase

58

3.4862 GBP

10p ordinary

Sale

1,434,148

3.4975 GBP

10p ordinary

Sale

869,340

3.4980 GBP

10p ordinary

Sale

302,074

3.4939 GBP

10p ordinary

Sale

227,000

3.4920 GBP

10p ordinary

Sale

185,100

3.4987 GBP

10p ordinary

Sale

164,116

3.4976 GBP

10p ordinary

Sale

158,518

3.4892 GBP

10p ordinary

Sale

156,700

3.4909 GBP

10p ordinary

Sale

154,019

3.5028 GBP

10p ordinary

Sale

147,858

3.4923 GBP

10p ordinary

Sale

139,770

3.5009 GBP

10p ordinary

Sale

97,503

3.4930 GBP

10p ordinary

Sale

87,100

3.4928 GBP

10p ordinary

Sale

73,130

3.4933 GBP

10p ordinary

Sale

44,432

3.4948 GBP

10p ordinary

Sale

33,279

3.5067 GBP

10p ordinary

Sale

27,397

3.4956 GBP

10p ordinary

Sale

26,105

3.4934 GBP

10p ordinary

Sale

22,847

3.4979 GBP

10p ordinary

Sale

22,327

3.4888 GBP

10p ordinary

Sale

21,744

3.4950 GBP

10p ordinary

Sale

20,732

3.4891 GBP

10p ordinary

Sale

20,514

3.4940 GBP

10p ordinary

Sale

20,056

3.5080 GBP

10p ordinary

Sale

18,383

3.5036 GBP

10p ordinary

Sale

18,296

3.5020 GBP

10p ordinary

Sale

14,452

3.5000 GBP

10p ordinary

Sale

14,331

3.4862 GBP

10p ordinary

Sale

12,753

3.5019 GBP

10p ordinary

Sale

11,845

3.5010 GBP

10p ordinary

Sale

10,985

3.4906 GBP

10p ordinary

Sale

10,710

3.4957 GBP

10p ordinary

Sale

7,580

3.5040 GBP

10p ordinary

Sale

6,440

3.5100 GBP

10p ordinary

Sale

6,386

3.4970 GBP

10p ordinary

Sale

5,926

3.4851 GBP

10p ordinary

Sale

5,433

3.5015 GBP

10p ordinary

Sale

5,238

3.4929 GBP

10p ordinary

Sale

4,785

3.4880 GBP

10p ordinary

Sale

4,463

3.5030 GBP

10p ordinary

Sale

4,207

3.4990 GBP

10p ordinary

Sale

3,680

3.4900 GBP

10p ordinary

Sale

3,578

3.4800 GBP

10p ordinary

Sale

2,969

3.5059 GBP

10p ordinary

Sale

2,942

3.4640 GBP

10p ordinary

Sale

2,914

3.4955 GBP

10p ordinary

Sale

2,743

3.4938 GBP

10p ordinary

Sale

2,702

3.4992 GBP

10p ordinary

Sale

2,500

3.4840 GBP

10p ordinary

Sale

2,332

3.4941 GBP

10p ordinary

Sale

1,964

3.4927 GBP

10p ordinary

Sale

1,808

3.5150 GBP

10p ordinary

Sale

1,734

3.4760 GBP

10p ordinary

Sale

1,618

3.5140 GBP

10p ordinary

Sale

1,581

3.5180 GBP

10p ordinary

Sale

880

3.5050 GBP

10p ordinary

Sale

812

3.5220 GBP

10p ordinary

Sale

801

3.4820 GBP

10p ordinary

Sale

799

3.4960 GBP

10p ordinary

Sale

796

3.4780 GBP

10p ordinary

Sale

774

3.5060 GBP

10p ordinary

Sale

767

3.5120 GBP

10p ordinary

Sale

741

3.4860 GBP

10p ordinary

Sale

700

3.4870 GBP

10p ordinary

Sale

402

3.5320 GBP

10p ordinary

Sale

87

3.4932 GBP

10p ordinary

Sale

62

3.4834 GBP

10p ordinary

Sale

58

3.4866 GBP

10p ordinary

Sale

14

3.4996 GBP

10p ordinary

Sale

1

3.4983 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

23

3.5000 GBP

10p ordinary

CFD

Decreasing Long

36

3.4983 GBP

10p ordinary

SWAP

Decreasing Long

142

3.5074 GBP

10p ordinary

CFD

Decreasing Long

278

3.5020 GBP

10p ordinary

SWAP

Decreasing Long

1,034

3.4940 GBP

10p ordinary

SWAP

Decreasing Long

1,489

3.4899 GBP

10p ordinary

SWAP

Decreasing Long

2,026

3.4886 GBP

10p ordinary

CFD

Decreasing Long

4,108

3.5060 GBP

10p ordinary

SWAP

Decreasing Long

5,264

3.4988 GBP

10p ordinary

CFD

Decreasing Long

17,250

3.4904 GBP

10p ordinary

SWAP

Decreasing Long

27,395

3.5063 GBP

10p ordinary

SWAP

Decreasing Long

29,601

3.4977 GBP

10p ordinary

SWAP

Decreasing Long

50,660

3.6038 GBP

10p ordinary

SWAP

Decreasing Long

51,977

3.4905 GBP

10p ordinary

SWAP

Decreasing Long

63,318

3.4961 GBP

10p ordinary

CFD

Decreasing Long

79,959

3.4980 GBP

10p ordinary

SWAP

Decreasing Long

82,316

3.4969 GBP

10p ordinary

SWAP

Decreasing Long

87,519

3.4984 GBP

10p ordinary

SWAP

Decreasing Long

91,786

3.4881 GBP

10p ordinary

CFD

Decreasing Long

114,719

3.4979 GBP

10p ordinary

SWAP

Decreasing Long

272,523

3.4912 GBP

10p ordinary

SWAP

Decreasing Long

487,199

3.4980 GBP

10p ordinary

SWAP

Decreasing Short

2,293

3.4964 GBP

10p ordinary

SWAP

Decreasing Short

5,854

3.4963 GBP

10p ordinary

SWAP

Decreasing Short

59,370

3.4958 GBP

10p ordinary

CFD

Increasing Long

36

3.4983 GBP

10p ordinary

CFD

Increasing Long

92

3.4980 GBP

10p ordinary

SWAP

Increasing Long

2,702

3.4992 GBP

10p ordinary

CFD

Increasing Long

4,108

3.5060 GBP

10p ordinary

SWAP

Increasing Long

4,500

3.4877 GBP

10p ordinary

SWAP

Increasing Long

5,433

3.5015 GBP

10p ordinary

SWAP

Increasing Long

8,256

3.4928 GBP

10p ordinary

SWAP

Increasing Long

10,985

3.4906 GBP

10p ordinary

CFD

Increasing Long

13,111

3.5095 GBP

10p ordinary

SWAP

Increasing Long

85,048

3.4975 GBP

10p ordinary

SWAP

Increasing Short

500

3.5120 GBP

10p ordinary

SWAP

Increasing Short

1,458

3.4994 GBP

10p ordinary

SWAP

Increasing Short

1,790

3.5239 GBP

10p ordinary

SWAP

Increasing Short

3,342

3.4976 GBP

10p ordinary

SWAP

Increasing Short

8,234

3.4962 GBP

10p ordinary

SWAP

Increasing Short

18,162

3.5100 GBP

10p ordinary

SWAP

Increasing Short

65,414

3.4884 GBP

10p ordinary

SWAP

Increasing Short

86,349

3.4869 GBP

10p ordinary

SWAP

Increasing Short

166,317

3.4958 GBP

10p ordinary

SWAP

Increasing Short

328,619

3.4980 GBP

10p ordinary

SWAP

Opening Long

1,964

3.4927 GBP

10p ordinary

SWAP

Opening Long

7,760

3.4979 GBP

10p ordinary

SWAP

Opening Long

26,105

3.4934 GBP

10p ordinary

SWAP

Opening Long

76,292

3.4943 GBP

10p ordinary

SWAP

Opening Long

147,858

3.4923 GBP

10p ordinary

SWAP

Opening Short

460

3.4980 GBP

10p ordinary

SWAP

Opening Short

5,191

3.4895 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:

24 Apr 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213