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:

11 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:

32,717,169

2.37%

28,121,769

2.04%

(2)

Cash-settled derivatives:

and/or controlled:

7,908,324

0.57%

32,359,577

2.35%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

40,625,493

2.94%

60,481,346

4.38%

(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

442,593

3.5600 GBP

10p ordinary

Purchase

440,548

3.5642 GBP

10p ordinary

Purchase

330,368

3.5947 GBP

10p ordinary

Purchase

275,133

3.5691 GBP

10p ordinary

Purchase

210,696

3.5845 GBP

10p ordinary

Purchase

76,980

3.5593 GBP

10p ordinary

Purchase

71,421

3.5598 GBP

10p ordinary

Purchase

43,468

3.5700 GBP

10p ordinary

Purchase

42,853

3.5820 GBP

10p ordinary

Purchase

33,206

3.5785 GBP

10p ordinary

Purchase

26,557

3.5644 GBP

10p ordinary

Purchase

23,927

3.5828 GBP

10p ordinary

Purchase

20,771

3.5681 GBP

10p ordinary

Purchase

19,486

3.5776 GBP

10p ordinary

Purchase

18,257

3.5766 GBP

10p ordinary

Purchase

11,738

3.5709 GBP

10p ordinary

Purchase

8,948

3.5804 GBP

10p ordinary

Purchase

8,331

3.5868 GBP

10p ordinary

Purchase

8,063

3.6074 GBP

10p ordinary

Purchase

6,974

3.5772 GBP

10p ordinary

Purchase

6,957

3.6008 GBP

10p ordinary

Purchase

6,687

3.5594 GBP

10p ordinary

Purchase

5,400

3.5695 GBP

10p ordinary

Purchase

3,909

3.5950 GBP

10p ordinary

Purchase

3,626

3.6072 GBP

10p ordinary

Purchase

3,403

3.5939 GBP

10p ordinary

Purchase

3,154

3.5586 GBP

10p ordinary

Purchase

3,100

3.6137 GBP

10p ordinary

Purchase

3,000

3.5610 GBP

10p ordinary

Purchase

2,555

3.5816 GBP

10p ordinary

Purchase

2,445

3.5934 GBP

10p ordinary

Purchase

1,879

3.5715 GBP

10p ordinary

Purchase

1,856

3.5721 GBP

10p ordinary

Purchase

1,575

3.6340 GBP

10p ordinary

Purchase

1,511

3.5760 GBP

10p ordinary

Purchase

1,493

3.5720 GBP

10p ordinary

Purchase

1,257

3.5736 GBP

10p ordinary

Purchase

1,107

3.5714 GBP

10p ordinary

Purchase

1,080

3.5640 GBP

10p ordinary

Purchase

1,042

3.6300 GBP

10p ordinary

Purchase

996

3.5920 GBP

10p ordinary

Purchase

886

3.5680 GBP

10p ordinary

Purchase

857

3.5900 GBP

10p ordinary

Purchase

817

3.5780 GBP

10p ordinary

Purchase

813

3.5540 GBP

10p ordinary

Purchase

777

3.5660 GBP

10p ordinary

Purchase

773

3.6324 GBP

10p ordinary

Purchase

762

3.5840 GBP

10p ordinary

Purchase

755

3.5740 GBP

10p ordinary

Purchase

738

3.5863 GBP

10p ordinary

Purchase

458

3.5811 GBP

10p ordinary

Purchase

339

3.5755 GBP

10p ordinary

Purchase

270

3.5589 GBP

10p ordinary

Purchase

194

3.5860 GBP

10p ordinary

Purchase

76

3.5880 GBP

10p ordinary

Purchase

26

3.6040 GBP

10p ordinary

Purchase

2

3.5940 GBP

10p ordinary

Purchase

1

3.5750 GBP

10p ordinary

Sale

1,140,327

3.6100 GBP

10p ordinary

Sale

508,889

3.5617 GBP

10p ordinary

Sale

281,555

3.5600 GBP

10p ordinary

Sale

270,927

3.5648 GBP

10p ordinary

Sale

150,000

3.5641 GBP

10p ordinary

Sale

127,300

3.5861 GBP

10p ordinary

Sale

99,301

3.5605 GBP

10p ordinary

Sale

67,015

3.5794 GBP

10p ordinary

Sale

62,798

3.5632 GBP

10p ordinary

Sale

56,030

3.5962 GBP

10p ordinary

Sale

37,547

3.6142 GBP

10p ordinary

Sale

30,000

3.5705 GBP

10p ordinary

Sale

28,949

3.5831 GBP

10p ordinary

Sale

25,587

3.5952 GBP

10p ordinary

Sale

23,016

3.5860 GBP

10p ordinary

Sale

21,512

3.6004 GBP

10p ordinary

Sale

19,023

3.5832 GBP

10p ordinary

Sale

14,798

3.5842 GBP

10p ordinary

Sale

14,051

3.5720 GBP

10p ordinary

Sale

10,165

3.5823 GBP

10p ordinary

Sale

8,626

3.5736 GBP

10p ordinary

Sale

7,816

3.6027 GBP

10p ordinary

Sale

7,801

3.5751 GBP

10p ordinary

Sale

7,523

3.5991 GBP

10p ordinary

Sale

7,511

3.5771 GBP

10p ordinary

Sale

6,848

3.5855 GBP

10p ordinary

Sale

6,821

3.5896 GBP

10p ordinary

Sale

6,347

3.5935 GBP

10p ordinary

Sale

6,185

3.5713 GBP

10p ordinary

Sale

5,055

3.6092 GBP

10p ordinary

Sale

4,736

3.5749 GBP

10p ordinary

Sale

4,332

3.5712 GBP

10p ordinary

Sale

4,323

3.5958 GBP

10p ordinary

Sale

4,155

3.5918 GBP

10p ordinary

Sale

3,362

3.6137 GBP

10p ordinary

Sale

2,783

3.5718 GBP

10p ordinary

Sale

2,390

3.5722 GBP

10p ordinary

Sale

1,042

3.6300 GBP

10p ordinary

Sale

996

3.5920 GBP

10p ordinary

Sale

832

3.6340 GBP

10p ordinary

Sale

813

3.5540 GBP

10p ordinary

Sale

777

3.5660 GBP

10p ordinary

Sale

773

3.6328 GBP

10p ordinary

Sale

762

3.5840 GBP

10p ordinary

Sale

738

3.5866 GBP

10p ordinary

Sale

567

3.5820 GBP

10p ordinary

Sale

339

3.5758 GBP

10p ordinary

Sale

231

3.5643 GBP

10p ordinary

Sale

76

3.5880 GBP

10p ordinary

Sale

30

3.6040 GBP

10p ordinary

Sale

22

3.5900 GBP

10p ordinary

Sale

14

3.5960 GBP

10p ordinary

Sale

2

3.5940 GBP

10p ordinary

Sale

1,518

3.5589 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

1,611

3.6084 GBP

10p ordinary

SWAP

Decreasing Long

1,879

3.5715 GBP

10p ordinary

SWAP

Decreasing Long

5,346

3.5985 GBP

10p ordinary

SWAP

Decreasing Long

83,925

3.5605 GBP

10p ordinary

SWAP

Decreasing Short

35

3.6400 GBP

10p ordinary

CFD

Decreasing Short

358

3.6220 GBP

10p ordinary

CFD

Decreasing Short

529

3.6219 GBP

10p ordinary

CFD

Decreasing Short

3,804

3.5769 GBP

10p ordinary

SWAP

Decreasing Short

5,055

3.6092 GBP

10p ordinary

CFD

Decreasing Short

5,445

3.5757 GBP

10p ordinary

SWAP

Decreasing Short

7,523

3.5991 GBP

10p ordinary

SWAP

Decreasing Short

7,816

3.6027 GBP

10p ordinary

SWAP

Decreasing Short

45,864

3.5600 GBP

10p ordinary

CFD

Decreasing Short

54,448

3.5711 GBP

10p ordinary

SWAP

Decreasing Short

62,798

3.5632 GBP

10p ordinary

CFD

Decreasing Short

237,531

3.5600 GBP

10p ordinary

SWAP

Decreasing Short

1,140,327

3.6100 GBP

10p ordinary

SWAP

Increasing Long

67,015

3.5794 GBP

10p ordinary

SWAP

Increasing Short

2

3.5920 GBP

10p ordinary

SWAP

Increasing Short

4

3.5930 GBP

10p ordinary

CFD

Increasing Short

358

3.6220 GBP

10p ordinary

CFD

Increasing Short

529

3.6219 GBP

10p ordinary

SWAP

Increasing Short

2,555

3.5816 GBP

10p ordinary

SWAP

Increasing Short

3,626

3.6072 GBP

10p ordinary

SWAP

Increasing Short

8,063

3.6074 GBP

10p ordinary

CFD

Increasing Short

9,620

3.5600 GBP

10p ordinary

CFD

Increasing Short

13,000

3.5942 GBP

10p ordinary

SWAP

Increasing Short

20,485

3.5742 GBP

10p ordinary

SWAP

Increasing Short

28,726

3.5627 GBP

10p ordinary

SWAP

Increasing Short

42,286

3.5820 GBP

10p ordinary

SWAP

Increasing Short

162,227

3.5600 GBP

10p ordinary

SWAP

Increasing Short

186,418

3.5600 GBP

10p ordinary

SWAP

Increasing Short

210,696

3.5845 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:

12 Jun 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213