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:

07 Jan 2025

(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:

32,359,905

2.34%

16,459,374

1.19%

(2)

Cash-settled derivatives:

and/or controlled:

12,809,944

0.93%

30,928,101

2.24%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

45,169,849

3.27%

47,387,475

3.43%

(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

399,065

5.4288 GBP

10p ordinary

Purchase

151,676

5.4300 GBP

10p ordinary

Purchase

133,226

5.4117 GBP

10p ordinary

Purchase

88,962

5.4277 GBP

10p ordinary

Purchase

78,613

5.4251 GBP

10p ordinary

Purchase

61,391

5.4227 GBP

10p ordinary

Purchase

28,654

5.4228 GBP

10p ordinary

Purchase

21,324

5.4147 GBP

10p ordinary

Purchase

17,093

5.4234 GBP

10p ordinary

Purchase

11,946

5.4193 GBP

10p ordinary

Purchase

9,510

5.4028 GBP

10p ordinary

Purchase

9,000

5.3793 GBP

10p ordinary

Purchase

8,928

5.4052 GBP

10p ordinary

Purchase

8,378

5.4208 GBP

10p ordinary

Purchase

7,610

5.4050 GBP

10p ordinary

Purchase

7,462

5.4194 GBP

10p ordinary

Purchase

7,442

5.4303 GBP

10p ordinary

Purchase

6,434

5.4085 GBP

10p ordinary

Purchase

6,305

5.4115 GBP

10p ordinary

Purchase

5,056

5.4114 GBP

10p ordinary

Purchase

4,848

5.3900 GBP

10p ordinary

Purchase

4,266

5.4100 GBP

10p ordinary

Purchase

4,139

5.4049 GBP

10p ordinary

Purchase

4,078

5.4264 GBP

10p ordinary

Purchase

3,536

5.3966 GBP

10p ordinary

Purchase

3,080

5.3873 GBP

10p ordinary

Purchase

2,850

5.4260 GBP

10p ordinary

Purchase

2,783

5.4433 GBP

10p ordinary

Purchase

2,757

5.4150 GBP

10p ordinary

Purchase

2,343

5.4092 GBP

10p ordinary

Purchase

2,318

5.4069 GBP

10p ordinary

Purchase

2,213

5.4009 GBP

10p ordinary

Purchase

2,137

5.4109 GBP

10p ordinary

Purchase

1,998

5.4000 GBP

10p ordinary

Purchase

1,703

5.4075 GBP

10p ordinary

Purchase

1,571

5.3950 GBP

10p ordinary

Purchase

1,541

5.4550 GBP

10p ordinary

Purchase

1,443

5.4250 GBP

10p ordinary

Purchase

1,400

5.4400 GBP

10p ordinary

Purchase

1,287

5.4200 GBP

10p ordinary

Purchase

1,159

5.4235 GBP

10p ordinary

Purchase

1,135

5.4544 GBP

10p ordinary

Purchase

1,091

5.3775 GBP

10p ordinary

Purchase

1,006

5.3975 GBP

10p ordinary

Purchase

974

5.4500 GBP

10p ordinary

Purchase

895

5.3800 GBP

10p ordinary

Purchase

724

5.4450 GBP

10p ordinary

Purchase

623

5.3550 GBP

10p ordinary

Purchase

593

5.3850 GBP

10p ordinary

Purchase

376

5.4375 GBP

10p ordinary

Sale

328,894

5.4261 GBP

10p ordinary

Sale

243,724

5.4300 GBP

10p ordinary

Sale

171,511

5.4311 GBP

10p ordinary

Sale

155,184

5.4293 GBP

10p ordinary

Sale

142,106

5.4129 GBP

10p ordinary

Sale

105,349

5.4177 GBP

10p ordinary

Sale

63,418

5.4100 GBP

10p ordinary

Sale

45,351

5.4188 GBP

10p ordinary

Sale

43,847

5.4416 GBP

10p ordinary

Sale

42,458

5.4170 GBP

10p ordinary

Sale

31,924

5.4136 GBP

10p ordinary

Sale

31,179

5.4141 GBP

10p ordinary

Sale

29,875

5.4000 GBP

10p ordinary

Sale

27,877

5.3551 GBP

10p ordinary

Sale

26,374

5.4131 GBP

10p ordinary

Sale

20,257

5.4117 GBP

10p ordinary

Sale

19,114

5.4344 GBP

10p ordinary

Sale

18,214

5.4462 GBP

10p ordinary

Sale

16,260

5.4304 GBP

10p ordinary

Sale

15,220

5.4444 GBP

10p ordinary

Sale

15,109

5.4060 GBP

10p ordinary

Sale

13,667

5.4063 GBP

10p ordinary

Sale

10,304

5.4500 GBP

10p ordinary

Sale

9,076

5.3801 GBP

10p ordinary

Sale

8,634

5.4009 GBP

10p ordinary

Sale

8,145

5.4149 GBP

10p ordinary

Sale

7,808

5.4050 GBP

10p ordinary

Sale

5,250

5.4262 GBP

10p ordinary

Sale

4,848

5.3900 GBP

10p ordinary

Sale

4,748

5.4128 GBP

10p ordinary

Sale

4,239

5.4143 GBP

10p ordinary

Sale

3,845

5.3859 GBP

10p ordinary

Sale

3,733

5.4263 GBP

10p ordinary

Sale

2,916

5.3927 GBP

10p ordinary

Sale

2,757

5.4150 GBP

10p ordinary

Sale

2,708

5.3977 GBP

10p ordinary

Sale

2,470

5.4309 GBP

10p ordinary

Sale

2,329

5.4450 GBP

10p ordinary

Sale

1,951

5.4021 GBP

10p ordinary

Sale

1,907

5.4303 GBP

10p ordinary

Sale

1,682

5.4190 GBP

10p ordinary

Sale

1,675

5.4001 GBP

10p ordinary

Sale

1,571

5.3950 GBP

10p ordinary

Sale

1,541

5.4550 GBP

10p ordinary

Sale

1,443

5.4250 GBP

10p ordinary

Sale

1,400

5.4400 GBP

10p ordinary

Sale

1,219

5.4104 GBP

10p ordinary

Sale

1,116

5.3875 GBP

10p ordinary

Sale

1,091

5.3775 GBP

10p ordinary

Sale

728

5.4075 GBP

10p ordinary

Sale

623

5.3550 GBP

10p ordinary

Sale

593

5.3850 GBP

10p ordinary

Sale

479

5.4114 GBP

10p ordinary

Sale

111

5.4091 GBP

10p ordinary

Sale

95

5.3800 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

Increasing Short

54,876

5.4155 GBP

10p ordinary

SWAP

Decreasing Short

945

5.3550 GBP

10p ordinary

SWAP

Decreasing Short

1,091

5.3775 GBP

10p ordinary

SWAP

Decreasing Short

2,708

5.3977 GBP

10p ordinary

SWAP

Decreasing Short

4,520

5.4025 GBP

10p ordinary

SWAP

Decreasing Short

13,667

5.4063 GBP

10p ordinary

SWAP

Decreasing Short

111

5.4091 GBP

10p ordinary

SWAP

Decreasing Short

479

5.4114 GBP

10p ordinary

SWAP

Decreasing Short

113,328

5.4129 GBP

10p ordinary

SWAP

Decreasing Short

3,384

5.4138 GBP

10p ordinary

SWAP

Decreasing Short

15,726

5.4140 GBP

10p ordinary

SWAP

Decreasing Short

31,179

5.4141 GBP

10p ordinary

SWAP

Decreasing Short

4,239

5.4143 GBP

10p ordinary

SWAP

Decreasing Short

12,027

5.4147 GBP

10p ordinary

SWAP

Decreasing Short

107,227

5.4172 GBP

10p ordinary

SWAP

Decreasing Short

91,947

5.4185 GBP

10p ordinary

SWAP

Decreasing Short

44,611

5.4188 GBP

10p ordinary

SWAP

Decreasing Short

49,026

5.4208 GBP

10p ordinary

SWAP

Decreasing Short

16,937

5.4297 GBP

10p ordinary

SWAP

Decreasing Short

282,379

5.4300 GBP

10p ordinary

SWAP

Decreasing Short

19,114

5.4344 GBP

10p ordinary

SWAP

Increasing Short

3,080

5.3873 GBP

10p ordinary

SWAP

Increasing Short

519

5.4079 GBP

10p ordinary

SWAP

Increasing Short

2,343

5.4092 GBP

10p ordinary

SWAP

Increasing Short

1,304

5.4111 GBP

10p ordinary

SWAP

Increasing Short

14,603

5.4207 GBP

10p ordinary

SWAP

Increasing Short

61,391

5.4227 USD

10p ordinary

SWAP

Increasing Short

2,850

5.4260 GBP

10p ordinary

SWAP

Increasing Short

15,128

5.4291 GBP

10p ordinary

SWAP

Increasing Short

38,911

5.4300 GBP

10p ordinary

CFD

Decreasing Short

4,820

5.4219 GBP

10p ordinary

CFD

Decreasing Short

423

5.4300 GBP

10p ordinary

CFD

Increasing Short

100,000

5.4079 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:

08 Jan 2025

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213