Form 8.3 - DS SMITH PLC

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:

28 Jun 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:

27,371,269

1.98%

22,687,972

1.64%

(2)

Cash-settled derivatives:

and/or controlled:

9,307,603

0.67%

26,593,738

1.93%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

36,678,872

2.66%

49,281,710

3.57%

(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

1,565,749

4.2099 GBP

10p ordinary

Purchase

1,194,428

4.2620 GBP

10p ordinary

Purchase

510,000

4.1870 GBP

10p ordinary

Purchase

503,407

4.2122 GBP

10p ordinary

Purchase

500,000

3.9319 GBP

10p ordinary

Purchase

406,500

4.1928 GBP

10p ordinary

Purchase

269,183

4.2076 GBP

10p ordinary

Purchase

250,000

4.1918 GBP

10p ordinary

Purchase

242,221

4.1844 GBP

10p ordinary

Purchase

172,870

4.2109 GBP

10p ordinary

Purchase

151,531

4.2302 GBP

10p ordinary

Purchase

140,000

4.1908 GBP

10p ordinary

Purchase

135,500

4.1882 GBP

10p ordinary

Purchase

113,643

4.2020 GBP

10p ordinary

Purchase

100,000

4.1816 GBP

10p ordinary

Purchase

100,000

4.1809 GBP

10p ordinary

Purchase

93,022

4.1974 GBP

10p ordinary

Purchase

81,336

4.1795 GBP

10p ordinary

Purchase

78,009

4.1895 GBP

10p ordinary

Purchase

65,700

4.2055 GBP

10p ordinary

Purchase

57,286

4.2019 GBP

10p ordinary

Purchase

43,253

4.1819 GBP

10p ordinary

Purchase

39,400

4.2044 GBP

10p ordinary

Purchase

33,064

4.1922 GBP

10p ordinary

Purchase

26,443

4.1860 GBP

10p ordinary

Purchase

25,336

4.1818 GBP

10p ordinary

Purchase

24,973

4.2129 GBP

10p ordinary

Purchase

23,410

4.2108 GBP

10p ordinary

Purchase

23,312

4.0654 GBP

10p ordinary

Purchase

18,299

4.1999 GBP

10p ordinary

Purchase

16,532

4.1745 GBP

10p ordinary

Purchase

16,532

4.1755 GBP

10p ordinary

Purchase

15,795

4.1917 GBP

10p ordinary

Purchase

15,718

4.2100 GBP

10p ordinary

Purchase

15,367

4.2277 GBP

10p ordinary

Purchase

14,621

4.1765 GBP

10p ordinary

Purchase

13,397

4.2297 GBP

10p ordinary

Purchase

12,203

4.2087 GBP

10p ordinary

Purchase

9,646

4.1891 GBP

10p ordinary

Purchase

8,767

4.2312 GBP

10p ordinary

Purchase

6,700

4.1874 GBP

10p ordinary

Purchase

5,441

4.1863 GBP

10p ordinary

Purchase

5,069

4.1800 GBP

10p ordinary

Purchase

4,051

4.2233 GBP

10p ordinary

Purchase

3,457

4.1955 GBP

10p ordinary

Purchase

3,420

4.2009 GBP

10p ordinary

Purchase

3,394

4.1828 GBP

10p ordinary

Purchase

3,332

4.1836 GBP

10p ordinary

Purchase

3,116

4.1780 GBP

10p ordinary

Purchase

3,068

4.1820 GBP

10p ordinary

Purchase

2,717

4.2171 GBP

10p ordinary

Purchase

2,478

4.1973 GBP

10p ordinary

Purchase

2,385

4.1810 GBP

10p ordinary

Purchase

2,049

4.2169 GBP

10p ordinary

Purchase

1,736

4.2324 GBP

10p ordinary

Purchase

1,697

4.1814 GBP

10p ordinary

Purchase

1,650

4.2300 GBP

10p ordinary

Purchase

1,606

4.1907 GBP

10p ordinary

Purchase

1,474

4.2022 GBP

10p ordinary

Purchase

1,472

4.2114 GBP

10p ordinary

Purchase

1,289

4.1847 GBP

10p ordinary

Purchase

1,281

4.2200 GBP

10p ordinary

Purchase

1,255

4.2000 GBP

10p ordinary

Purchase

966

4.1861 GBP

10p ordinary

Purchase

956

4.2088 GBP

10p ordinary

Purchase

882

4.1740 GBP

10p ordinary

Purchase

840

4.1720 GBP

10p ordinary

Purchase

759

4.2260 GBP

10p ordinary

Purchase

583

4.1840 GBP

10p ordinary

Sale

1,722,186

4.2100 GBP

10p ordinary

Sale

353,905

4.2099 GBP

10p ordinary

Sale

273,254

4.2025 GBP

10p ordinary

Sale

243,969

4.2087 GBP

10p ordinary

Sale

228,906

4.2102 GBP

10p ordinary

Sale

180,649

4.1832 GBP

10p ordinary

Sale

172,374

4.2007 GBP

10p ordinary

Sale

143,596

4.2003 GBP

10p ordinary

Sale

119,081

4.1933 GBP

10p ordinary

Sale

105,644

4.2116 GBP

10p ordinary

Sale

100,000

4.2233 GBP

10p ordinary

Sale

100,000

4.2261 GBP

10p ordinary

Sale

94,869

4.2026 GBP

10p ordinary

Sale

84,739

4.1975 GBP

10p ordinary

Sale

84,697

4.1837 GBP

10p ordinary

Sale

80,776

4.1815 GBP

10p ordinary

Sale

63,180

4.1814 GBP

10p ordinary

Sale

61,821

4.1858 GBP

10p ordinary

Sale

33,738

4.1931 GBP

10p ordinary

Sale

29,436

4.1845 GBP

10p ordinary

Sale

25,486

4.2022 GBP

10p ordinary

Sale

20,208

4.2170 GBP

10p ordinary

Sale

19,145

4.2093 GBP

10p ordinary

Sale

13,616

4.1825 GBP

10p ordinary

Sale

11,872

4.2117 GBP

10p ordinary

Sale

10,038

4.1945 GBP

10p ordinary

Sale

10,000

4.0406 GBP

10p ordinary

Sale

10,000

4.2052 GBP

10p ordinary

Sale

9,810

4.2162 GBP

10p ordinary

Sale

8,075

4.2124 GBP

10p ordinary

Sale

7,171

4.2143 GBP

10p ordinary

Sale

6,631

4.1870 GBP

10p ordinary

Sale

6,500

4.2130 GBP

10p ordinary

Sale

5,864

4.2065 GBP

10p ordinary

Sale

5,253

4.1841 GBP

10p ordinary

Sale

5,069

4.1800 GBP

10p ordinary

Sale

5,044

4.2150 GBP

10p ordinary

Sale

4,292

4.1790 GBP

10p ordinary

Sale

4,236

4.2059 GBP

10p ordinary

Sale

3,116

4.1780 GBP

10p ordinary

Sale

2,755

4.2111 GBP

10p ordinary

Sale

2,738

4.1720 GBP

10p ordinary

Sale

2,572

4.1822 GBP

10p ordinary

Sale

2,320

4.1820 GBP

10p ordinary

Sale

1,828

4.1819 GBP

10p ordinary

Sale

1,650

4.2300 GBP

10p ordinary

Sale

1,529

4.1840 GBP

10p ordinary

Sale

1,220

4.1810 GBP

10p ordinary

Sale

882

4.1740 GBP

10p ordinary

Sale

515

4.1880 GBP

10p ordinary

Sale

453

4.2140 GBP

10p ordinary

Sale

444

4.2000 GBP

10p ordinary

Sale

68

4.2020 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

Opening Long

550,615

4.2100 GBP

10p ordinary

CFD

Increasing Long

413

4.2000 GBP

10p ordinary

CFD

Increasing Long

360,356

4.2099 GBP

10p ordinary

CFD

Increasing Long

25

4.2100 GBP

10p ordinary

CFD

Decreasing Long

413

4.2000 GBP

10p ordinary

CFD

Decreasing Long

4,628

4.2100 GBP

10p ordinary

SWAP

Decreasing Long

4,782

4.2037 GBP

10p ordinary

SWAP

Opening Long

13,224

4.2097 GBP

10p ordinary

SWAP

Closing Long

4,688

4.2100 GBP

10p ordinary

SWAP

Increasing Short

2,292

4.2134 GBP

10p ordinary

SWAP

Increasing Long

7,200

4.1855 GBP

10p ordinary

SWAP

Decreasing Long

36

4.2066 GBP

10p ordinary

SWAP

Increasing Long

19,145

4.2093 GBP

10p ordinary

SWAP

Increasing Long

2,572

4.1822 GBP

10p ordinary

SWAP

Increasing Long

515

4.1880 GBP

10p ordinary

SWAP

Increasing Long

42,407

4.1926 GBP

10p ordinary

SWAP

Increasing Long

172,374

4.2007 GBP

10p ordinary

SWAP

Increasing Long

453

4.2140 GBP

10p ordinary

SWAP

Decreasing Long

150,000

3.9319 GBP

10p ordinary

SWAP

Decreasing Long

1,289

4.1847 GBP

10p ordinary

SWAP

Decreasing Long

78,000

4.1870 GBP

10p ordinary

SWAP

Decreasing Long

342,000

4.1906 GBP

10p ordinary

SWAP

Decreasing Long

972

4.1955 GBP

10p ordinary

SWAP

Decreasing Long

115,583

4.2025 GBP

10p ordinary

SWAP

Decreasing Long

21,402

4.2098 GBP

10p ordinary

SWAP

Decreasing Long

209,617

4.2100 GBP

10p ordinary

SWAP

Decreasing Long

503,407

4.2122 GBP

10p ordinary

SWAP

Decreasing Long

1,194,428

4.2620 GBP

10p ordinary

SWAP

Increasing Long

94,869

4.2026 GBP

10p ordinary

SWAP

Decreasing Long

2,182

4.2021 GBP

10p ordinary

SWAP

Decreasing Long

22,791

4.2140 GBP

10p ordinary

SWAP

Increasing Short

23,312

4.0654 GBP

10p ordinary

SWAP

Increasing Short

16,532

4.1745 GBP

10p ordinary

SWAP

Increasing Short

16,532

4.1755 GBP

10p ordinary

SWAP

Increasing Short

33,064

4.1922 GBP

10p ordinary

SWAP

Decreasing Short

79,689

4.2014 GBP

10p ordinary

SWAP

Decreasing Short

243,969

4.2087 GBP

10p ordinary

SWAP

Increasing Short

350,000

3.9319 GBP

10p ordinary

SWAP

Increasing Short

182,000

4.1870 GBP

10p ordinary

SWAP

Increasing Short

840,000

4.1906 GBP

10p ordinary

SWAP

Increasing Short

170,606

4.2100 GBP

10p ordinary

SWAP

Increasing Short

1,281

4.2200 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:

01 Jul 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213