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:

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?

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:

993,501

0.29%

692,999

0.20%

(2)

Cash-settled derivatives:

and/or controlled:

317,206

0.09%

13,660

0.00%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

1,310,707

0.38%

706,659

0.20%

(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

88,634

55.5400 USD

common stock

Purchase

84,968

55.3875 USD

common stock

Purchase

84,426

55.5316 USD

common stock

Purchase

18,220

55.3841 USD

common stock

Purchase

15,144

55.4476 USD

common stock

Purchase

11,188

55.3442 USD

common stock

Purchase

11,005

55.5362 USD

common stock

Purchase

5,647

55.4166 USD

common stock

Purchase

4,101

55.4882 USD

common stock

Purchase

2,718

55.3684 USD

common stock

Purchase

2,142

55.3527 USD

common stock

Purchase

1,979

55.5458 USD

common stock

Purchase

1,872

55.3785 USD

common stock

Purchase

1,793

55.3694 USD

common stock

Purchase

1,769

55.3700 USD

common stock

Purchase

1,698

55.5398 USD

common stock

Purchase

1,324

55.2462 USD

common stock

Purchase

1,137

55.3219 USD

common stock

Purchase

893

54.9664 USD

common stock

Purchase

818

55.3713 USD

common stock

Purchase

659

55.2347 USD

common stock

Purchase

658

55.3167 USD

common stock

Purchase

650

55.4284 USD

common stock

Purchase

481

55.4022 USD

common stock

Purchase

432

55.3114 USD

common stock

Purchase

405

55.3038 USD

common stock

Purchase

248

55.5372 USD

common stock

Purchase

200

55.2550 USD

common stock

Purchase

160

55.3900 USD

common stock

Purchase

155

55.3109 USD

common stock

Purchase

140

55.2935 USD

common stock

Purchase

140

55.2936 USD

common stock

Purchase

125

55.3460 USD

common stock

Purchase

108

55.2800 USD

common stock

Purchase

100

55.1800 USD

common stock

Purchase

70

54.9605 USD

common stock

Purchase

35

55.1900 USD

common stock

Purchase

35

55.2600 USD

common stock

Purchase

16

55.5350 USD

common stock

Purchase

11

55.5240 USD

common stock

Purchase

1

55.5600 USD

common stock

Purchase

1

55.4500 USD

common stock

Sale

114,538

55.5400 USD

common stock

Sale

49,307

55.5347 USD

common stock

Sale

37,968

55.4080 USD

common stock

Sale

37,109

55.4076 USD

common stock

Sale

35,612

55.5251 USD

common stock

Sale

30,044

55.3673 USD

common stock

Sale

19,567

55.5387 USD

common stock

Sale

11,005

55.5362 USD

common stock

Sale

8,066

55.3687 USD

common stock

Sale

7,917

55.4691 USD

common stock

Sale

7,873

55.3142 USD

common stock

Sale

6,641

55.3537 USD

common stock

Sale

4,288

55.4136 USD

common stock

Sale

4,208

55.3224 USD

common stock

Sale

1,967

55.2423 USD

common stock

Sale

1,401

55.3617 USD

common stock

Sale

1,182

55.3440 USD

common stock

Sale

1,155

55.3307 USD

common stock

Sale

1,112

55.4159 USD

common stock

Sale

658

55.3167 USD

common stock

Sale

600

55.2583 USD

common stock

Sale

587

55.4222 USD

common stock

Sale

521

55.4518 USD

common stock

Sale

392

55.1147 USD

common stock

Sale

250

55.4030 USD

common stock

Sale

200

55.2550 USD

common stock

Sale

200

55.3738 USD

common stock

Sale

190

55.2900 USD

common stock

Sale

176

55.2923 USD

common stock

Sale

140

55.2935 USD

common stock

Sale

139

55.4749 USD

common stock

Sale

135

55.0718 USD

common stock

Sale

128

55.4743 USD

common stock

Sale

103

55.2592 USD

common stock

Sale

100

55.2950 USD

common stock

Sale

100

55.5900 USD

common stock

Sale

100

55.4300 USD

common stock

Sale

100

55.1800 USD

common stock

Sale

95

55.3400 USD

common stock

Sale

93

55.3900 USD

common stock

Sale

91

55.2909 USD

common stock

Sale

74

55.2860 USD

common stock

Sale

70

55.2600 USD

common stock

Sale

70

55.3607 USD

common stock

Sale

60

54.9358 USD

common stock

Sale

54

55.3281 USD

common stock

Sale

47

55.4400 USD

common stock

Sale

45

55.3633 USD

common stock

Sale

45

55.2885 USD

common stock

Sale

33

55.5600 USD

common stock

Sale

31

55.3064 USD

common stock

Sale

26

55.4119 USD

common stock

Sale

20

55.2595 USD

common stock

Sale

15

55.2466 USD

common stock

Sale

10

55.3200 USD

common stock

Sale

10

55.3800 USD

common stock

Sale

10

55.3600 USD

common stock

Sale

5

55.5000 USD

common stock

Sale

5

55.4600 USD

common stock

Sale

4

55.2750 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

246

55.5410 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 Dec 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213