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:

15 Jul 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:

38,867,336

2.82%

25,279,369

1.83%

(2)

Cash-settled derivatives:

and/or controlled:

7,751,350

0.56%

38,243,284

2.77%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

46,618,686

3.38%

63,522,653

4.60%

(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

359,998

4.2365 GBP

10p ordinary

Purchase

216,089

4.2351 GBP

10p ordinary

Purchase

187,652

4.2340 GBP

10p ordinary

Purchase

108,098

4.2341 GBP

10p ordinary

Purchase

81,078

4.2393 GBP

10p ordinary

Purchase

19,616

4.2487 GBP

10p ordinary

Purchase

15,106

4.2337 GBP

10p ordinary

Purchase

9,304

4.2498 GBP

10p ordinary

Purchase

8,078

4.2510 GBP

10p ordinary

Purchase

8,018

4.2158 GBP

10p ordinary

Purchase

5,992

4.2268 GBP

10p ordinary

Purchase

3,255

4.2458 GBP

10p ordinary

Purchase

3,219

4.2480 GBP

10p ordinary

Purchase

2,686

4.2526 GBP

10p ordinary

Purchase

2,263

4.2519 GBP

10p ordinary

Purchase

1,997

4.2694 GBP

10p ordinary

Purchase

1,696

4.2260 GBP

10p ordinary

Purchase

1,362

4.2228 GBP

10p ordinary

Purchase

1,239

4.2516 GBP

10p ordinary

Purchase

1,148

4.2050 GBP

10p ordinary

Purchase

1,142

4.2484 GBP

10p ordinary

Purchase

822

4.2232 GBP

10p ordinary

Purchase

752

4.2200 GBP

10p ordinary

Purchase

736

4.2020 GBP

10p ordinary

Purchase

135

4.2410 GBP

10p ordinary

Sale

174,876

4.2340 GBP

10p ordinary

Sale

91,500

4.2410 GBP

10p ordinary

Sale

68,369

4.2420 GBP

10p ordinary

Sale

43,956

4.2383 GBP

10p ordinary

Sale

24,103

4.2588 GBP

10p ordinary

Sale

10,859

4.2342 GBP

10p ordinary

Sale

10,075

4.2547 GBP

10p ordinary

Sale

7,500

4.2133 GBP

10p ordinary

Sale

6,257

4.2245 GBP

10p ordinary

Sale

5,788

4.2154 GBP

10p ordinary

Sale

4,581

4.2153 GBP

10p ordinary

Sale

3,637

4.2194 GBP

10p ordinary

Sale

2,550

4.2312 GBP

10p ordinary

Sale

2,539

4.2220 GBP

10p ordinary

Sale

2,384

4.2550 GBP

10p ordinary

Sale

1,805

4.2059 GBP

10p ordinary

Sale

914

4.2333 GBP

10p ordinary

Sale

736

4.2020 GBP

10p ordinary

Sale

667

4.2260 GBP

10p ordinary

Sale

518

4.2530 GBP

10p ordinary

Sale

486

4.2200 GBP

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

10p ordinary

CFD

Increasing Long

736

4.2019 GBP

10p ordinary

CFD

Increasing Long

1

4.2300 GBP

10p ordinary

CFD

Increasing Long

2,262

4.2340 GBP

10p ordinary

CFD

Decreasing Long

6,046

4.2339 GBP

10p ordinary

CFD

Opening Short

87,470

4.2340 GBP

10p ordinary

CFD

Increasing Short

11,911

4.2382 GBP

10p ordinary

CFD

Increasing Short

105,948

4.2416 GBP

10p ordinary

SWAP

Decreasing Long

1,722

4.2469 GBP

10p ordinary

SWAP

Increasing Long

914

4.2333 GBP

10p ordinary

SWAP

Increasing Short

212,560

4.2351 GBP

10p ordinary

SWAP

Increasing Short

3,529

4.2351 GBP

10p ordinary

SWAP

Decreasing Short

278

4.2020 GBP

10p ordinary

SWAP

Decreasing Short

4,581

4.2153 GBP

10p ordinary

SWAP

Decreasing Short

3,637

4.2194 GBP

10p ordinary

SWAP

Decreasing Short

486

4.2200 GBP

10p ordinary

SWAP

Decreasing Short

68,369

4.2420 GBP

10p ordinary

SWAP

Decreasing Short

25,383

4.2547 GBP

10p ordinary

SWAP

Increasing Short

822

4.2232 GBP

10p ordinary

SWAP

Increasing Short

1,696

4.2260 GBP

10p ordinary

SWAP

Increasing Short

5,992

4.2268 GBP

10p ordinary

SWAP

Increasing Short

116,854

4.2339 GBP

10p ordinary

SWAP

Increasing Short

81,078

4.2393 GBP

10p ordinary

SWAP

Increasing Short

6,848

4.2406 GBP

10p ordinary

SWAP

Increasing Short

9,570

4.2493 GBP

10p ordinary

SWAP

Decreasing Long

731

4.2352 GBP

10p ordinary

SWAP

Decreasing Long

2,686

4.2526 GBP

10p ordinary

SWAP

Decreasing Long

411

4.2720 GBP

10p ordinary

SWAP

Decreasing Short

6,257

4.2245 GBP

10p ordinary

SWAP

Decreasing Short

9,431

4.2322 GBP

10p ordinary

SWAP

Increasing Short

45,075

4.2340 GBP

10p ordinary

SWAP

Increasing Short

9,304

4.2498 GBP

10p ordinary

SWAP

Increasing Short

4,985

4.2523 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:

16 Jul 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213