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:

19 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:

31,009,717

2.25%

30,671,287

2.22%

(2)

Cash-settled derivatives:

and/or controlled:

7,421,643

0.54%

30,238,558

2.19%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

38,431,360

2.79%

60,909,845

4.42%

(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

333,914

3.5227 GBP

10p ordinary

Purchase

58,464

3.5294 GBP

10p ordinary

Purchase

31,885

3.5261 GBP

10p ordinary

Purchase

13,078

3.5501 GBP

10p ordinary

Purchase

12,381

3.5887 GBP

10p ordinary

Purchase

11,422

3.5695 GBP

10p ordinary

Purchase

9,554

3.5681 GBP

10p ordinary

Purchase

8,009

3.5665 GBP

10p ordinary

Purchase

7,042

3.5677 GBP

10p ordinary

Purchase

4,194

3.5578 GBP

10p ordinary

Purchase

3,970

3.5740 GBP

10p ordinary

Purchase

3,816

3.5350 GBP

10p ordinary

Purchase

3,179

3.5324 GBP

10p ordinary

Purchase

2,664

3.5940 GBP

10p ordinary

Purchase

2,210

3.5999 GBP

10p ordinary

Purchase

1,469

3.5791 GBP

10p ordinary

Purchase

1,035

3.6119 GBP

10p ordinary

Purchase

841

3.5287 GBP

10p ordinary

Purchase

726

3.6120 GBP

10p ordinary

Purchase

632

3.5440 GBP

10p ordinary

Purchase

610

3.5670 GBP

10p ordinary

Purchase

524

3.5640 GBP

10p ordinary

Purchase

511

3.5920 GBP

10p ordinary

Purchase

446

3.5900 GBP

10p ordinary

Purchase

408

3.5200 GBP

10p ordinary

Sale

234,964

3.5040 GBP

10p ordinary

Sale

140,827

3.5200 GBP

10p ordinary

Sale

103,221

3.6099 GBP

10p ordinary

Sale

92,045

3.5748 GBP

10p ordinary

Sale

86,066

3.5391 GBP

10p ordinary

Sale

62,012

3.5731 GBP

10p ordinary

Sale

36,648

3.5691 GBP

10p ordinary

Sale

36,240

3.5761 GBP

10p ordinary

Sale

32,408

3.5202 GBP

10p ordinary

Sale

25,118

3.5457 GBP

10p ordinary

Sale

25,000

3.5890 GBP

10p ordinary

Sale

13,382

3.5201 GBP

10p ordinary

Sale

8,152

3.5475 GBP

10p ordinary

Sale

6,486

3.5733 GBP

10p ordinary

Sale

6,368

3.5614 GBP

10p ordinary

Sale

4,204

3.5709 GBP

10p ordinary

Sale

1,585

3.5349 GBP

10p ordinary

Sale

1,100

3.5560 GBP

10p ordinary

Sale

802

3.5680 GBP

10p ordinary

Sale

724

3.5198 GBP

10p ordinary

Sale

632

3.5440 GBP

10p ordinary

Sale

516

3.5600 GBP

10p ordinary

Sale

102

3.5720 GBP

10p ordinary

Sale

20

3.5189 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

524

3.5640 GBP

10p ordinary

SWAP

Decreasing Long

546

3.5202 GBP

10p ordinary

SWAP

Decreasing Long

9,554

3.5681 GBP

10p ordinary

CFD

Decreasing Short

1

3.5400 GBP

10p ordinary

SWAP

Decreasing Short

459

3.5440 GBP

10p ordinary

CFD

Decreasing Short

632

3.5440 GBP

10p ordinary

SWAP

Decreasing Short

724

3.5198 GBP

10p ordinary

SWAP

Decreasing Short

1,585

3.5349 GBP

10p ordinary

CFD

Decreasing Short

3,152

3.4959 GBP

10p ordinary

SWAP

Decreasing Short

8,152

3.5475 GBP

10p ordinary

SWAP

Decreasing Short

25,000

3.5890 GBP

10p ordinary

CFD

Decreasing Short

35,209

3.5200 GBP

10p ordinary

SWAP

Decreasing Short

42,506

3.5647 GBP

10p ordinary

SWAP

Decreasing Short

62,012

3.5731 GBP

10p ordinary

SWAP

Decreasing Short

63,145

3.5281 GBP

10p ordinary

SWAP

Decreasing Short

103,221

3.6099 GBP

10p ordinary

SWAP

Decreasing Short

234,964

3.5040 GBP

10p ordinary

SWAP

Increasing Long

36,240

3.5761 GBP

10p ordinary

SWAP

Increasing Short

841

3.5287 GBP

10p ordinary

SWAP

Increasing Short

1,469

3.5791 GBP

10p ordinary

CFD

Increasing Short

2,398

3.5200 GBP

10p ordinary

CFD

Increasing Short

3,152

3.4959 GBP

10p ordinary

SWAP

Increasing Short

3,816

3.5350 GBP

10p ordinary

SWAP

Increasing Short

20,688

3.5500 GBP

10p ordinary

SWAP

Increasing Short

22,644

3.5446 GBP

10p ordinary

SWAP

Increasing Short

31,885

3.5261 GBP

10p ordinary

SWAP

Increasing Short

69,056

3.5206 GBP

10p ordinary

SWAP

Increasing Short

181,998

3.5200 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:

20 Jun 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213