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 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:

33,093,476

2.40%

13,244,173

0.96%

(2)

Cash-settled derivatives:

and/or controlled:

13,059,134

0.95%

30,728,172

2.23%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

46,152,610

3.34%

43,972,345

3.19%

(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

351,650

6.0225 GBP

10p ordinary

Purchase

163,057

6.0490 GBP

10p ordinary

Purchase

147,342

6.0137 GBP

10p ordinary

Purchase

125,973

6.0392 GBP

10p ordinary

Purchase

111,509

6.0150 GBP

10p ordinary

Purchase

65,720

6.0407 GBP

10p ordinary

Purchase

47,477

6.0680 GBP

10p ordinary

Purchase

45,639

6.0221 GBP

10p ordinary

Purchase

44,559

6.0418 GBP

10p ordinary

Purchase

37,478

6.0674 GBP

10p ordinary

Purchase

24,322

6.0406 GBP

10p ordinary

Purchase

22,068

6.0205 GBP

10p ordinary

Purchase

20,873

6.0414 GBP

10p ordinary

Purchase

11,674

6.0467 GBP

10p ordinary

Purchase

7,847

6.0198 GBP

10p ordinary

Purchase

7,632

6.0149 GBP

10p ordinary

Purchase

7,554

6.0390 GBP

10p ordinary

Purchase

4,373

6.0449 GBP

10p ordinary

Purchase

3,452

6.0352 GBP

10p ordinary

Purchase

3,323

6.0415 GBP

10p ordinary

Purchase

3,066

6.0463 GBP

10p ordinary

Purchase

2,989

6.0500 GBP

10p ordinary

Purchase

2,593

6.0550 GBP

10p ordinary

Purchase

2,535

6.0365 GBP

10p ordinary

Purchase

2,221

6.0489 GBP

10p ordinary

Purchase

1,966

6.0136 GBP

10p ordinary

Purchase

1,689

6.0325 GBP

10p ordinary

Purchase

1,250

6.0800 GBP

10p ordinary

Purchase

1,118

6.0487 GBP

10p ordinary

Purchase

1,038

6.0375 GBP

10p ordinary

Purchase

848

6.0450 GBP

10p ordinary

Purchase

640

6.0178 GBP

10p ordinary

Purchase

640

6.0140 GBP

10p ordinary

Purchase

619

6.0050 GBP

10p ordinary

Purchase

140

6.0248 GBP

10p ordinary

Purchase

77

6.0100 GBP

10p ordinary

Purchase

37

6.0125 GBP

10p ordinary

Purchase

13

6.0250 GBP

10p ordinary

Sale

1,309,186

6.0500 GBP

10p ordinary

Sale

438,200

6.1119 GBP

10p ordinary

Sale

438,199

6.0068 GBP

10p ordinary

Sale

238,546

6.0150 GBP

10p ordinary

Sale

206,969

6.0184 GBP

10p ordinary

Sale

83,526

6.0450 GBP

10p ordinary

Sale

70,000

6.0506 GBP

10p ordinary

Sale

42,481

6.0322 GBP

10p ordinary

Sale

27,842

6.0350 GBP

10p ordinary

Sale

18,780

6.0336 GBP

10p ordinary

Sale

16,556

6.0710 GBP

10p ordinary

Sale

9,927

6.0334 GBP

10p ordinary

Sale

9,552

6.0292 GBP

10p ordinary

Sale

7,569

6.0330 GBP

10p ordinary

Sale

6,674

6.0269 GBP

10p ordinary

Sale

5,904

6.0273 GBP

10p ordinary

Sale

4,588

6.0058 GBP

10p ordinary

Sale

4,341

6.0513 GBP

10p ordinary

Sale

3,658

6.0159 GBP

10p ordinary

Sale

3,512

6.0182 GBP

10p ordinary

Sale

2,670

6.0393 GBP

10p ordinary

Sale

2,364

6.0124 GBP

10p ordinary

Sale

1,966

6.0199 GBP

10p ordinary

Sale

1,858

6.0204 GBP

10p ordinary

Sale

1,343

6.0502 GBP

10p ordinary

Sale

1,109

6.0550 GBP

10p ordinary

Sale

619

6.0050 GBP

10p ordinary

Sale

566

6.0051 GBP

10p ordinary

Sale

560

6.0650 GBP

10p ordinary

Sale

558

6.0300 GBP

10p ordinary

Sale

323

6.0125 GBP

10p ordinary

Sale

140

6.0254 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 Short

587,231

6.0700 GBP

10p ordinary

SWAP

Increasing Short

13,373

6.0331 GBP

10p ordinary

SWAP

Decreasing Short

4,588

6.0058 GBP

10p ordinary

SWAP

Decreasing Short

438,199

6.0067 GBP

10p ordinary

SWAP

Decreasing Short

2,174

6.0136 USD

10p ordinary

SWAP

Decreasing Short

1,600

6.0150 GBP

10p ordinary

SWAP

Decreasing Short

13,946

6.0247 GBP

10p ordinary

SWAP

Decreasing Short

77,990

6.0313 GBP

10p ordinary

SWAP

Decreasing Short

42,481

6.0322 GBP

10p ordinary

SWAP

Decreasing Short

70,000

6.0506 GBP

10p ordinary

SWAP

Decreasing Short

438,200

6.1119 GBP

10p ordinary

SWAP

Increasing Short

34,407

6.0150 GBP

10p ordinary

SWAP

Increasing Short

56,372

6.0171 GBP

10p ordinary

SWAP

Increasing Short

45,639

6.0221 GBP

10p ordinary

SWAP

Increasing Short

125,973

6.0392 GBP

10p ordinary

SWAP

Increasing Short

20,873

6.0414 GBP

10p ordinary

SWAP

Increasing Short

8,000

6.0415 GBP

10p ordinary

SWAP

Increasing Short

44,559

6.0418 GBP

10p ordinary

SWAP

Increasing Short

50,740

6.0446 GBP

10p ordinary

SWAP

Increasing Short

29,659

6.0454 GBP

10p ordinary

SWAP

Increasing Short

163,057

6.0490 USD

10p ordinary

SWAP

Increasing Short

1,667

6.0550 GBP

10p ordinary

SWAP

Increasing Short

37,478

6.0674 USD

10p ordinary

SWAP

Increasing Short

47,477

6.0680 USD

10p ordinary

CFD

Decreasing Short

2,852

6.0150 GBP

10p ordinary

CFD

Decreasing Short

40,671

6.0291 GBP

10p ordinary

CFD

Decreasing Short

1,309,186

6.0500 GBP

10p ordinary

CFD

Decreasing Short

1,109

6.0550 GBP

10p ordinary

CFD

Increasing Short

104,175

6.0150 GBP

10p ordinary

CFD

Increasing Short

31,751

6.0328 GBP

10p ordinary

CFD

Increasing Short

20,000

6.0454 GBP

10p ordinary

CFD

Increasing Short

10,064

6.0465 GBP

10p ordinary

CFD

Increasing Short

33,602

6.0574 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:

29 Jan 2025

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213