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:

18 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:

36,759,735

2.66%

28,012,494

2.03%

(2)

Cash-settled derivatives:

and/or controlled:

7,665,380

0.56%

36,711,958

2.66%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

44,425,115

3.22%

64,724,452

4.69%

(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

193,432

4.4260 GBP

10p ordinary

Purchase

67,488

4.4256 GBP

10p ordinary

Purchase

61,914

4.4257 GBP

10p ordinary

Purchase

53,759

4.4456 GBP

10p ordinary

Purchase

35,812

4.4404 GBP

10p ordinary

Purchase

27,559

4.4349 GBP

10p ordinary

Purchase

26,600

4.4156 GBP

10p ordinary

Purchase

25,951

4.4320 GBP

10p ordinary

Purchase

20,492

4.4270 GBP

10p ordinary

Purchase

20,021

4.4140 GBP

10p ordinary

Purchase

18,853

4.4212 GBP

10p ordinary

Purchase

13,596

4.4266 GBP

10p ordinary

Purchase

4,255

4.4449 GBP

10p ordinary

Purchase

3,978

4.4100 GBP

10p ordinary

Purchase

3,500

4.4411 GBP

10p ordinary

Purchase

3,466

4.4480 GBP

10p ordinary

Purchase

3,129

4.4331 GBP

10p ordinary

Purchase

2,999

4.4359 GBP

10p ordinary

Purchase

2,612

4.4414 GBP

10p ordinary

Purchase

1,210

4.4560 GBP

10p ordinary

Purchase

740

4.4160 GBP

10p ordinary

Purchase

732

4.4180 GBP

10p ordinary

Purchase

398

4.4500 GBP

10p ordinary

Purchase

8

4.4440 GBP

10p ordinary

Purchase

6

4.4170 GBP

10p ordinary

Purchase

2

4.4220 GBP

10p ordinary

Sale

2,804,116

4.4200 GBP

10p ordinary

Sale

281,421

4.4263 GBP

10p ordinary

Sale

89,042

4.4406 GBP

10p ordinary

Sale

86,637

4.4249 GBP

10p ordinary

Sale

80,619

4.4341 GBP

10p ordinary

Sale

79,469

4.4260 GBP

10p ordinary

Sale

69,881

4.4402 GBP

10p ordinary

Sale

64,344

4.4264 GBP

10p ordinary

Sale

19,529

4.4104 GBP

10p ordinary

Sale

6,250

4.4320 GBP

10p ordinary

Sale

5,440

4.4247 GBP

10p ordinary

Sale

5,309

4.4207 GBP

10p ordinary

Sale

3,224

4.4154 GBP

10p ordinary

Sale

2,590

4.4117 GBP

10p ordinary

Sale

947

4.4210 GBP

10p ordinary

Sale

896

4.4396 GBP

10p ordinary

Sale

841

4.4426 GBP

10p ordinary

Sale

804

4.4168 GBP

10p ordinary

Sale

551

4.4180 GBP

10p ordinary

Sale

537

4.4420 GBP

10p ordinary

Sale

253

4.4140 GBP

10p ordinary

Sale

122

4.4527 GBP

10p ordinary

Sale

2

4.4224 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

Decreasing Short

537

4.4180 GBP

10p ordinary

CFD

Decreasing Short

77,292

4.4259 GBP

10p ordinary

CFD

Decreasing Short

10,078

4.4260 GBP

10p ordinary

CFD

Increasing Short

537

4.4180 GBP

10p ordinary

CFD

Increasing Short

10,078

4.4260 GBP

10p ordinary

SWAP

Decreasing Long

13,596

4.4266 GBP

10p ordinary

SWAP

Decreasing Short

4,862

4.4256 GBP

10p ordinary

SWAP

Decreasing Short

20,909

4.4260 GBP

10p ordinary

SWAP

Decreasing Short

5,044

4.4294 GBP

10p ordinary

SWAP

Decreasing Short

896

4.4396 GBP

10p ordinary

SWAP

Decreasing Short

89,042

4.4406 GBP

10p ordinary

SWAP

Decreasing Short

841

4.4426 GBP

10p ordinary

SWAP

Increasing Short

18,853

4.4212 GBP

10p ordinary

SWAP

Increasing Short

3,129

4.4331 GBP

10p ordinary

SWAP

Increasing Short

7,447

4.4353 GBP

10p ordinary

SWAP

Increasing Short

2,999

4.4359 GBP

10p ordinary

SWAP

Increasing Long

122

4.4527 GBP

10p ordinary

SWAP

Decreasing Long

1,544

4.4220 GBP

10p ordinary

SWAP

Decreasing Long

27,559

4.4349 GBP

10p ordinary

SWAP

Decreasing Long

391

4.4400 GBP

10p ordinary

SWAP

Decreasing Short

34,680

4.4260 GBP

10p ordinary

SWAP

Decreasing Short

8,614

4.4277 GBP

10p ordinary

SWAP

Decreasing Short

80,619

4.4341 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:

19 Jul 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213