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:

24 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:

14,499,692

1.05%

7,433,328

0.54%

(2)

Cash-settled derivatives:

and/or controlled:

7,272,163

0.53%

13,672,114

0.99%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

21,771,855

1.58%

21,105,442

1.53%

(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

1,934,463

3.4602 GBP

10p ordinary

Purchase

1,802,679

3.4600 GBP

10p ordinary

Purchase

506,376

3.4639 GBP

10p ordinary

Purchase

227,689

3.4645 GBP

10p ordinary

Purchase

213,981

3.4681 GBP

10p ordinary

Purchase

206,924

3.4664 GBP

10p ordinary

Purchase

108,371

3.4606 GBP

10p ordinary

Purchase

105,852

3.4661 GBP

10p ordinary

Purchase

92,603

3.4694 GBP

10p ordinary

Purchase

82,616

3.4705 GBP

10p ordinary

Purchase

70,657

3.4671 GBP

10p ordinary

Purchase

67,286

3.4695 GBP

10p ordinary

Purchase

61,195

3.4685 GBP

10p ordinary

Purchase

42,049

3.4730 GBP

10p ordinary

Purchase

36,105

3.4498 GBP

10p ordinary

Purchase

24,218

3.4714 GBP

10p ordinary

Purchase

24,063

3.4748 GBP

10p ordinary

Purchase

23,779

3.4552 GBP

10p ordinary

Purchase

22,313

3.4793 GBP

10p ordinary

Purchase

19,197

3.4737 GBP

10p ordinary

Purchase

18,700

3.4775 GBP

10p ordinary

Purchase

18,368

3.4640 GBP

10p ordinary

Purchase

17,300

3.4605 GBP

10p ordinary

Purchase

16,845

3.4786 GBP

10p ordinary

Purchase

14,566

3.4734 GBP

10p ordinary

Purchase

11,609

3.4609 GBP

10p ordinary

Purchase

11,606

3.4620 GBP

10p ordinary

Purchase

11,384

3.4660 GBP

10p ordinary

Purchase

10,886

3.4400 GBP

10p ordinary

Purchase

9,418

3.4500 GBP

10p ordinary

Purchase

9,106

3.4560 GBP

10p ordinary

Purchase

8,035

3.4622 GBP

10p ordinary

Purchase

6,342

3.4420 GBP

10p ordinary

Purchase

5,053

3.4540 GBP

10p ordinary

Purchase

5,042

3.4520 GBP

10p ordinary

Purchase

4,663

3.4740 GBP

10p ordinary

Purchase

4,402

3.4580 GBP

10p ordinary

Purchase

4,287

3.4497 GBP

10p ordinary

Purchase

3,501

3.4739 GBP

10p ordinary

Purchase

3,386

3.4480 GBP

10p ordinary

Purchase

3,303

3.4720 GBP

10p ordinary

Purchase

3,191

3.4360 GBP

10p ordinary

Purchase

2,601

3.4492 GBP

10p ordinary

Purchase

2,428

3.4784 GBP

10p ordinary

Purchase

2,367

3.4783 GBP

10p ordinary

Purchase

2,278

3.4680 GBP

10p ordinary

Purchase

2,007

3.4926 GBP

10p ordinary

Purchase

1,779

3.4700 GBP

10p ordinary

Purchase

1,448

3.4380 GBP

10p ordinary

Purchase

1,173

3.4820 GBP

10p ordinary

Purchase

882

3.4860 GBP

10p ordinary

Purchase

870

3.4760 GBP

10p ordinary

Purchase

841

3.4440 GBP

10p ordinary

Purchase

829

3.4900 GBP

10p ordinary

Purchase

702

3.4460 GBP

10p ordinary

Purchase

326

3.4541 GBP

10p ordinary

Purchase

124

3.4920 GBP

10p ordinary

Purchase

67

3.4615 GBP

10p ordinary

Sale

1,064,789

3.4657 GBP

10p ordinary

Sale

761,634

3.4734 GBP

10p ordinary

Sale

692,071

3.4600 GBP

10p ordinary

Sale

342,905

3.4605 GBP

10p ordinary

Sale

230,135

3.4586 GBP

10p ordinary

Sale

96,051

3.4669 GBP

10p ordinary

Sale

87,831

3.4576 GBP

10p ordinary

Sale

60,591

3.4620 GBP

10p ordinary

Sale

54,848

3.4629 GBP

10p ordinary

Sale

47,400

3.4610 GBP

10p ordinary

Sale

30,050

3.4633 GBP

10p ordinary

Sale

27,800

3.4490 GBP

10p ordinary

Sale

26,120

3.4546 GBP

10p ordinary

Sale

22,786

3.4645 GBP

10p ordinary

Sale

21,595

3.4609 GBP

10p ordinary

Sale

19,515

3.4709 GBP

10p ordinary

Sale

17,097

3.4499 GBP

10p ordinary

Sale

16,903

3.4517 GBP

10p ordinary

Sale

16,563

3.4711 GBP

10p ordinary

Sale

15,101

3.4559 GBP

10p ordinary

Sale

11,215

3.4516 GBP

10p ordinary

Sale

11,076

3.4644 GBP

10p ordinary

Sale

10,922

3.4677 GBP

10p ordinary

Sale

10,459

3.4500 GBP

10p ordinary

Sale

9,106

3.4560 GBP

10p ordinary

Sale

8,435

3.4640 GBP

10p ordinary

Sale

7,269

3.4580 GBP

10p ordinary

Sale

6,342

3.4420 GBP

10p ordinary

Sale

6,186

3.4778 GBP

10p ordinary

Sale

5,615

3.4800 GBP

10p ordinary

Sale

5,252

3.4481 GBP

10p ordinary

Sale

5,053

3.4540 GBP

10p ordinary

Sale

5,042

3.4520 GBP

10p ordinary

Sale

4,663

3.4740 GBP

10p ordinary

Sale

4,487

3.4612 GBP

10p ordinary

Sale

4,354

3.4480 GBP

10p ordinary

Sale

4,176

3.4521 GBP

10p ordinary

Sale

3,623

3.4400 GBP

10p ordinary

Sale

3,423

3.4700 GBP

10p ordinary

Sale

3,303

3.4720 GBP

10p ordinary

Sale

3,230

3.4542 GBP

10p ordinary

Sale

3,191

3.4360 GBP

10p ordinary

Sale

3,174

3.4655 GBP

10p ordinary

Sale

2,291

3.4369 GBP

10p ordinary

Sale

2,278

3.4680 GBP

10p ordinary

Sale

2,239

3.4792 GBP

10p ordinary

Sale

1,711

3.4440 GBP

10p ordinary

Sale

1,585

3.4732 GBP

10p ordinary

Sale

1,514

3.4660 GBP

10p ordinary

Sale

1,457

3.4510 GBP

10p ordinary

Sale

1,448

3.4380 GBP

10p ordinary

Sale

1,284

3.4452 GBP

10p ordinary

Sale

1,173

3.4820 GBP

10p ordinary

Sale

1,105

3.4802 GBP

10p ordinary

Sale

970

3.4760 GBP

10p ordinary

Sale

929

3.4880 GBP

10p ordinary

Sale

882

3.4860 GBP

10p ordinary

Sale

829

3.4900 GBP

10p ordinary

Sale

702

3.4460 GBP

10p ordinary

Sale

593

3.4723 GBP

10p ordinary

Sale

581

3.4819 GBP

10p ordinary

Sale

124

3.4920 GBP

10p ordinary

Sale

87

3.4776 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

10p ordinary

CFD

Closing Long

57

3.4900 GBP

10p ordinary

SWAP

Closing Long

2,082

3.4499 GBP

10p ordinary

SWAP

Closing Long

2,399

3.4579 GBP

10p ordinary

SWAP

Closing Long

5,252

3.4481 GBP

10p ordinary

SWAP

Closing Long

21,820

3.4649 GBP

10p ordinary

SWAP

Closing Long

87,831

3.4576 GBP

10p ordinary

SWAP

Closing Long

97,601

3.4587 GBP

10p ordinary

CFD

Closing Long

223,757

3.4600 GBP

10p ordinary

SWAP

Decreasing Long

925

3.4680 GBP

10p ordinary

SWAP

Decreasing Long

9,827

3.4675 GBP

10p ordinary

SWAP

Decreasing Long

9,870

3.4660 GBP

10p ordinary

SWAP

Decreasing Long

17,300

3.4605 GBP

10p ordinary

SWAP

Decreasing Long

23,873

3.4757 GBP

10p ordinary

SWAP

Decreasing Long

47,991

3.4685 GBP

10p ordinary

SWAP

Decreasing Short

70

3.4508 GBP

10p ordinary

SWAP

Decreasing Short

581

3.4819 GBP

10p ordinary

SWAP

Decreasing Short

1,644

3.4700 GBP

10p ordinary

SWAP

Decreasing Short

5,250

3.4928 GBP

10p ordinary

SWAP

Decreasing Short

5,878

3.4673 GBP

10p ordinary

SWAP

Decreasing Short

9,063

3.4613 GBP

10p ordinary

SWAP

Decreasing Short

41,478

3.4657 GBP

10p ordinary

SWAP

Decreasing Short

260,937

3.4584 GBP

10p ordinary

SWAP

Increasing Short

649

3.4809 GBP

10p ordinary

SWAP

Increasing Short

105,852

3.4661 GBP

10p ordinary

SWAP

Increasing Short

179,350

3.4675 GBP

10p ordinary

SWAP

Increasing Short

190,061

3.4642 GBP

10p ordinary

SWAP

Increasing Short

586,546

3.4600 GBP

10p ordinary

SWAP

Opening Long

38

3.4774 GBP

10p ordinary

SWAP

Opening Long

49

3.4778 GBP

10p ordinary

SWAP

Opening Long

165

3.4761 GBP

10p ordinary

SWAP

Opening Long

213

3.4364 GBP

10p ordinary

SWAP

Opening Long

215

3.4747 GBP

10p ordinary

SWAP

Opening Long

283

3.4366 GBP

10p ordinary

SWAP

Opening Long

386

3.4554 GBP

10p ordinary

SWAP

Opening Long

428

3.4645 GBP

10p ordinary

SWAP

Opening Long

492

3.4628 GBP

10p ordinary

SWAP

Opening Long

559

3.4555 GBP

10p ordinary

SWAP

Opening Long

1,205

3.4725 GBP

10p ordinary

SWAP

Opening Long

1,312

3.4496 GBP

10p ordinary

SWAP

Opening Long

1,795

3.4370 GBP

10p ordinary

SWAP

Opening Long

1,823

3.4498 GBP

10p ordinary

SWAP

Opening Long

2,254

3.4662 GBP

10p ordinary

SWAP

Opening Long

3,762

3.4557 GBP

10p ordinary

SWAP

Opening Long

11,880

3.4499 GBP

10p ordinary

SWAP

Opening Long

16,903

3.4517 GBP

10p ordinary

SWAP

Opening Long

27,800

3.4490 GBP

10p ordinary

SWAP

Opening Long

77,103

3.4640 GBP

10p ordinary

CFD

Opening Short

57

3.4900 GBP

10p ordinary

CFD

Opening Short

124

3.4920 GBP

10p ordinary

SWAP

Opening Short

637

3.4920 GBP

10p ordinary

SWAP

Opening Short

920

3.4640 GBP

10p ordinary

SWAP

Opening Short

1,370

3.4930 GBP

10p ordinary

SWAP

Opening Short

2,367

3.4783 GBP

10p ordinary

CFD

Opening Short

2,697

3.4643 GBP

10p ordinary

SWAP

Opening Short

3,501

3.4739 GBP

10p ordinary

CFD

Opening Short

14,037

3.4462 GBP

10p ordinary

SWAP

Opening Short

50,335

3.4610 GBP

10p ordinary

SWAP

Opening Short

62,928

3.4676 GBP

10p ordinary

SWAP

Opening Short

206,924

3.4664 GBP

10p ordinary

SWAP

Opening Short

743,936

3.4600 GBP

10p ordinary

CFD

Opening Short

1,566,208

3.4600 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:

25 Apr 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213