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:

03 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:

32,876,096

2.38%

16,159,905

1.17%

(2)

Cash-settled derivatives:

and/or controlled:

12,674,620

0.92%

31,552,075

2.29%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

45,550,716

3.30%

47,711,980

3.46%

(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

407,265

5.4600 GBP

10p ordinary

Purchase

42,523

5.4626 GBP

10p ordinary

Purchase

38,716

5.4750 GBP

10p ordinary

Purchase

19,761

5.4713 GBP

10p ordinary

Purchase

17,888

5.4724 GBP

10p ordinary

Purchase

17,267

5.4755 GBP

10p ordinary

Purchase

13,937

5.4696 GBP

10p ordinary

Purchase

11,337

5.4762 GBP

10p ordinary

Purchase

10,093

5.4745 GBP

10p ordinary

Purchase

9,088

5.4731 GBP

10p ordinary

Purchase

5,403

5.4813 GBP

10p ordinary

Purchase

5,108

5.4652 GBP

10p ordinary

Purchase

4,582

5.4598 GBP

10p ordinary

Purchase

4,552

5.4631 GBP

10p ordinary

Purchase

4,513

5.4702 GBP

10p ordinary

Purchase

3,259

5.4709 GBP

10p ordinary

Purchase

3,243

5.4726 GBP

10p ordinary

Purchase

3,010

5.4644 GBP

10p ordinary

Purchase

2,872

5.4818 GBP

10p ordinary

Purchase

2,446

5.4800 GBP

10p ordinary

Purchase

2,344

5.4698 GBP

10p ordinary

Purchase

1,911

5.4900 GBP

10p ordinary

Purchase

1,781

5.4700 GBP

10p ordinary

Purchase

1,690

5.4653 GBP

10p ordinary

Purchase

1,332

5.4838 GBP

10p ordinary

Purchase

1,294

5.4630 GBP

10p ordinary

Purchase

1,257

5.4926 GBP

10p ordinary

Purchase

625

5.4650 GBP

10p ordinary

Purchase

578

5.4850 GBP

10p ordinary

Purchase

519

5.4550 GBP

10p ordinary

Purchase

469

5.4733 GBP

10p ordinary

Purchase

243

5.5000 GBP

10p ordinary

Purchase

185

5.4703 GBP

10p ordinary

Purchase

94

5.4531 GBP

10p ordinary

Sale

248,917

5.4605 GBP

10p ordinary

Sale

136,917

5.4600 GBP

10p ordinary

Sale

66,512

5.4677 GBP

10p ordinary

Sale

47,755

5.4711 GBP

10p ordinary

Sale

34,665

5.4653 GBP

10p ordinary

Sale

29,649

5.4630 GBP

10p ordinary

Sale

22,789

5.4651 GBP

10p ordinary

Sale

20,424

5.4602 GBP

10p ordinary

Sale

17,888

5.4729 GBP

10p ordinary

Sale

6,091

5.4724 GBP

10p ordinary

Sale

5,403

5.4818 GBP

10p ordinary

Sale

2,785

5.4750 GBP

10p ordinary

Sale

2,344

5.4703 GBP

10p ordinary

Sale

2,183

5.4702 GBP

10p ordinary

Sale

1,952

5.4751 GBP

10p ordinary

Sale

1,870

5.4800 GBP

10p ordinary

Sale

1,781

5.4700 GBP

10p ordinary

Sale

1,550

5.4900 GBP

10p ordinary

Sale

707

5.4650 GBP

10p ordinary

Sale

622

5.4559 GBP

10p ordinary

Sale

578

5.4850 GBP

10p ordinary

Sale

519

5.4550 GBP

10p ordinary

Sale

313

5.4710 GBP

10p ordinary

Sale

290

5.4599 GBP

10p ordinary

Sale

262

5.4823 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

46,854

5.4721 GBP

10p ordinary

SWAP

Decreasing Short

4,298

5.4578 GBP

10p ordinary

SWAP

Decreasing Short

56,647

5.4600 GBP

10p ordinary

SWAP

Decreasing Short

16,700

5.4603 GBP

10p ordinary

SWAP

Decreasing Short

930

5.4609 GBP

10p ordinary

SWAP

Decreasing Short

29,649

5.4630 GBP

10p ordinary

SWAP

Decreasing Short

21,447

5.4636 GBP

10p ordinary

SWAP

Decreasing Short

1,175

5.4637 GBP

10p ordinary

SWAP

Decreasing Short

13,997

5.4655 GBP

10p ordinary

SWAP

Decreasing Short

66,512

5.4677 GBP

10p ordinary

SWAP

Decreasing Short

2,183

5.4702 GBP

10p ordinary

SWAP

Decreasing Short

6,091

5.4724 GBP

10p ordinary

SWAP

Increasing Short

4,582

5.4598 GBP

10p ordinary

SWAP

Increasing Short

939

5.4600 GBP

10p ordinary

SWAP

Increasing Short

45,572

5.4686 GBP

10p ordinary

SWAP

Increasing Short

3,243

5.4726 GBP

10p ordinary

SWAP

Increasing Short

61

5.4750 GBP

10p ordinary

SWAP

Increasing Short

11,337

5.4762 GBP

10p ordinary

SWAP

Increasing Short

1,257

5.4927 GBP

10p ordinary

CFD

Decreasing Short

313

5.4546 GBP

10p ordinary

CFD

Decreasing Short

79,670

5.4600 GBP

10p ordinary

CFD

Increasing Short

172

5.4600 GBP

10p ordinary

CFD

Increasing Short

7,908

5.4804 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:

06 Jan 2025

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213