Form 8.3 - INTERNATIONAL PAPER COMPANY

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

INTERNATIONAL PAPER COMPANY

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 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?

DS SMITH PLC

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:

common stock

Interests

Short Positions

Number

(%)

Number

(%)

(1)

Relevant securities owned

and/or controlled:

623,850

0.18%

648,310

0.19%

(2)

Cash-settled derivatives:

and/or controlled:

525,669

0.15%

13,660

0.00%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,149,519

0.33%

661,970

0.19%

(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

common stock

Purchase

118,134

55.5401 USD

common stock

Purchase

85,497

55.6215 USD

common stock

Purchase

64,909

55.6308 USD

common stock

Purchase

51,766

55.5519 USD

common stock

Purchase

49,988

55.5839 USD

common stock

Purchase

38,727

55.6600 USD

common stock

Purchase

28,055

55.5433 USD

common stock

Purchase

18,000

55.5844 USD

common stock

Purchase

16,782

55.5220 USD

common stock

Purchase

14,142

55.5561 USD

common stock

Purchase

7,114

55.5328 USD

common stock

Purchase

6,158

55.4982 USD

common stock

Purchase

4,744

55.5125 USD

common stock

Purchase

4,728

55.4603 USD

common stock

Purchase

4,655

55.4593 USD

common stock

Purchase

3,953

55.5395 USD

common stock

Purchase

3,109

55.7077 USD

common stock

Purchase

3,062

55.4817 USD

common stock

Purchase

2,237

55.3778 USD

common stock

Purchase

2,146

55.5411 USD

common stock

Purchase

1,815

55.7732 USD

common stock

Purchase

1,735

55.6599 USD

common stock

Purchase

1,614

55.7036 USD

common stock

Purchase

1,508

55.4978 USD

common stock

Purchase

1,501

55.6675 USD

common stock

Purchase

1,254

55.4064 USD

common stock

Purchase

1,100

55.5690 USD

common stock

Purchase

997

55.6139 USD

common stock

Purchase

818

55.6791 USD

common stock

Purchase

438

55.4807 USD

common stock

Purchase

400

55.4950 USD

common stock

Purchase

392

55.6837 USD

common stock

Purchase

389

56.0000 USD

common stock

Purchase

359

55.5344 USD

common stock

Purchase

314

55.5379 USD

common stock

Purchase

221

55.3830 USD

common stock

Purchase

200

55.3750 USD

common stock

Purchase

154

55.6057 USD

common stock

Purchase

153

55.5865 USD

common stock

Purchase

100

55.6900 USD

common stock

Purchase

100

55.3100 USD

common stock

Purchase

42

55.4600 USD

common stock

Purchase

3

55.4800 USD

common stock

Purchase

3

56.0550 USD

common stock

Sale

183,309

55.5622 USD

common stock

Sale

73,250

55.6064 USD

common stock

Sale

68,288

55.5192 USD

common stock

Sale

60,151

55.6600 USD

common stock

Sale

25,667

55.5965 USD

common stock

Sale

14,608

55.5183 USD

common stock

Sale

12,373

55.4869 USD

common stock

Sale

11,836

55.6001 USD

common stock

Sale

11,271

55.5764 USD

common stock

Sale

11,177

55.6304 USD

common stock

Sale

7,560

55.6545 USD

common stock

Sale

7,457

55.4906 USD

common stock

Sale

5,893

55.5433 USD

common stock

Sale

5,581

55.5397 USD

common stock

Sale

4,946

55.6626 USD

common stock

Sale

3,866

55.5118 USD

common stock

Sale

3,470

55.6599 USD

common stock

Sale

3,324

55.6422 USD

common stock

Sale

2,983

55.3626 USD

common stock

Sale

2,211

55.6309 USD

common stock

Sale

2,151

55.7700 USD

common stock

Sale

2,101

55.5250 USD

common stock

Sale

1,332

55.6147 USD

common stock

Sale

1,185

55.5265 USD

common stock

Sale

1,003

55.5584 USD

common stock

Sale

1,000

55.5470 USD

common stock

Sale

590

55.6349 USD

common stock

Sale

376

55.6584 USD

common stock

Sale

331

55.7742 USD

common stock

Sale

282

55.5228 USD

common stock

Sale

251

55.6700 USD

common stock

Sale

158

55.3516 USD

common stock

Sale

154

55.6057 USD

common stock

Sale

135

55.6014 USD

common stock

Sale

134

55.4612 USD

common stock

Sale

130

55.6011 USD

common stock

Sale

127

55.5495 USD

common stock

Sale

124

56.0000 USD

common stock

Sale

110

56.0963 USD

common stock

Sale

105

56.0500 USD

common stock

Sale

67

55.5200 USD

common stock

Sale

46

55.6410 USD

common stock

Sale

37

55.4700 USD

common stock

Sale

34

55.4087 USD

common stock

Sale

31

55.2800 USD

common stock

Sale

30

55.3200 USD

common stock

Sale

30

55.7487 USD

common stock

Sale

30

55.4283 USD

common stock

Sale

28

55.3600 USD

common stock

Sale

25

55.1000 USD

common stock

Sale

20

55.1125 USD

common stock

Sale

20

55.5600 USD

common stock

Sale

15

56.0200 USD

common stock

Sale

5

55.5700 USD

common stock

Sale

5

55.1200 USD

common stock

Sale

5

55.4400 USD

common stock

Sale

3

55.4800 USD

common stock

Sale

1

55.4500 USD

(b)

Cash-settled derivative transactions

Class of

Product

Nature of dealing

Number of

Price per

relevant

description

reference

unit

security

securities

common stock

SWAP

Decreasing Long

43

55.6609 USD

common stock

SWAP

Decreasing Long

665

55.6610 USD

common stock

SWAP

Decreasing Long

7,713

55.6625 USD

(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 Jan 2025

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213