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:

13 Dec 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:

33,733,178

2.44%

20,317,971

1.47%

(2)

Cash-settled derivatives:

and/or controlled:

12,404,306

0.90%

32,688,474

2.37%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

46,137,484

3.34%

53,006,445

3.84%

(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

220,720

5.4686 GBP

10p ordinary

Purchase

107,266

5.4700 GBP

10p ordinary

Purchase

27,445

5.4512 GBP

10p ordinary

Purchase

23,010

5.4677 GBP

10p ordinary

Purchase

16,466

5.4549 GBP

10p ordinary

Purchase

14,076

5.4398 GBP

10p ordinary

Purchase

10,758

5.4461 GBP

10p ordinary

Purchase

6,409

5.4450 GBP

10p ordinary

Purchase

5,149

5.4154 GBP

10p ordinary

Purchase

3,820

5.4623 GBP

10p ordinary

Purchase

3,729

5.4552 GBP

10p ordinary

Purchase

2,571

5.4646 GBP

10p ordinary

Purchase

2,522

5.4747 GBP

10p ordinary

Purchase

2,036

5.4618 GBP

10p ordinary

Purchase

2,009

5.4155 GBP

10p ordinary

Purchase

1,997

5.4175 GBP

10p ordinary

Purchase

1,731

5.4352 GBP

10p ordinary

Purchase

1,708

5.4169 GBP

10p ordinary

Purchase

1,624

5.4136 GBP

10p ordinary

Purchase

1,591

5.4825 GBP

10p ordinary

Purchase

1,106

5.4237 GBP

10p ordinary

Purchase

832

5.4669 GBP

10p ordinary

Purchase

666

5.4200 GBP

10p ordinary

Purchase

532

5.4466 GBP

10p ordinary

Purchase

297

5.4050 GBP

10p ordinary

Purchase

223

5.4100 GBP

10p ordinary

Sale

618,138

5.4700 GBP

10p ordinary

Sale

239,043

5.4692 GBP

10p ordinary

Sale

63,514

5.4292 GBP

10p ordinary

Sale

59,709

5.4527 GBP

10p ordinary

Sale

58,502

5.4495 GBP

10p ordinary

Sale

48,900

5.4653 GBP

10p ordinary

Sale

42,997

5.4560 GBP

10p ordinary

Sale

42,628

5.4523 GBP

10p ordinary

Sale

37,270

5.4567 GBP

10p ordinary

Sale

23,010

5.4677 GBP

10p ordinary

Sale

21,233

5.4481 GBP

10p ordinary

Sale

15,675

5.4572 GBP

10p ordinary

Sale

15,061

5.4099 GBP

10p ordinary

Sale

14,224

5.4592 GBP

10p ordinary

Sale

12,053

5.4448 GBP

10p ordinary

Sale

5,720

5.4209 GBP

10p ordinary

Sale

5,161

5.4258 GBP

10p ordinary

Sale

4,295

5.4295 GBP

10p ordinary

Sale

2,729

5.4179 GBP

10p ordinary

Sale

1,304

5.4392 GBP

10p ordinary

Sale

1,284

5.4850 GBP

10p ordinary

Sale

1,143

5.4077 GBP

10p ordinary

Sale

572

5.4450 GBP

10p ordinary

Sale

174

5.4875 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

76,403

5.4538 GBP

10p ordinary

SWAP

Decreasing Short

15,061

5.4099 GBP

10p ordinary

SWAP

Decreasing Short

160

5.4150 GBP

10p ordinary

SWAP

Decreasing Short

2,729

5.4179 GBP

10p ordinary

SWAP

Decreasing Short

63,514

5.4292 GBP

10p ordinary

SWAP

Decreasing Short

1,854

5.4351 GBP

10p ordinary

SWAP

Decreasing Short

21,015

5.4456 GBP

10p ordinary

SWAP

Decreasing Short

21,233

5.4481 GBP

10p ordinary

SWAP

Decreasing Short

53,907

5.4492 GBP

10p ordinary

SWAP

Decreasing Short

25,720

5.4540 GBP

10p ordinary

SWAP

Decreasing Short

15,675

5.4571 GBP

10p ordinary

SWAP

Decreasing Short

275,593

5.4588 GBP

10p ordinary

SWAP

Decreasing Short

48,900

5.4653 GBP

10p ordinary

SWAP

Decreasing Short

133,791

5.4697 GBP

10p ordinary

SWAP

Decreasing Short

562,945

5.4700 GBP

10p ordinary

SWAP

Increasing Short

88

5.4100 GBP

10p ordinary

SWAP

Increasing Short

3,068

5.4169 GBP

10p ordinary

SWAP

Increasing Short

1,997

5.4175 GBP

10p ordinary

SWAP

Increasing Short

14,076

5.4398 GBP

10p ordinary

SWAP

Increasing Short

5,013

5.4450 GBP

10p ordinary

SWAP

Increasing Short

57,090

5.4685 GBP

10p ordinary

SWAP

Increasing Short

232,273

5.4700 GBP

10p ordinary

CFD

Decreasing Short

4,435

5.4543 GBP

10p ordinary

CFD

Decreasing Short

805

5.4700 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 Dec 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213