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 CO

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:

27 Mar 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:

701,692

0.20%

271,626

0.08%

(2)

Cash-settled derivatives:

and/or controlled:

99,853

0.03%

11,835

0.00%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

801,545

0.23%

283,461

0.08%

(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

192,885

39.2960 USD

common stock

Purchase

103,551

38.9036 USD

common stock

Purchase

87,708

38.7551 USD

common stock

Purchase

86,158

38.9695 USD

common stock

Purchase

77,098

38.9413 USD

common stock

Purchase

64,794

39.2988 USD

common stock

Purchase

50,000

38.9850 USD

common stock

Purchase

36,846

38.7411 USD

common stock

Purchase

36,379

38.5944 USD

common stock

Purchase

27,666

38.6349 USD

common stock

Purchase

26,311

38.6185 USD

common stock

Purchase

24,000

38.9546 USD

common stock

Purchase

22,726

38.8806 USD

common stock

Purchase

20,831

38.8211 USD

common stock

Purchase

19,234

38.7980 USD

common stock

Purchase

18,993

38.7928 USD

common stock

Purchase

16,556

39.3900 USD

common stock

Purchase

10,005

38.7819 USD

common stock

Purchase

7,250

38.8576 USD

common stock

Purchase

6,800

39.0393 USD

common stock

Purchase

6,102

39.1796 USD

common stock

Purchase

5,624

39.0264 USD

common stock

Purchase

4,133

38.9005 USD

common stock

Purchase

4,032

38.7933 USD

common stock

Purchase

3,369

38.7243 USD

common stock

Purchase

2,955

39.0771 USD

common stock

Purchase

2,947

37.4787 USD

common stock

Purchase

2,454

39.1092 USD

common stock

Purchase

2,394

38.8396 USD

common stock

Purchase

2,117

38.8995 USD

common stock

Purchase

2,012

38.7919 USD

common stock

Purchase

2,007

38.9649 USD

common stock

Purchase

1,838

38.8351 USD

common stock

Purchase

1,151

38.9965 USD

common stock

Purchase

1,144

38.4766 USD

common stock

Purchase

637

38.9838 USD

common stock

Purchase

474

39.2545 USD

common stock

Purchase

469

39.1207 USD

common stock

Purchase

440

37.9917 USD

common stock

Purchase

200

39.1000 USD

common stock

Purchase

190

39.1210 USD

common stock

Purchase

156

38.9366 USD

common stock

Purchase

135

38.9022 USD

common stock

Purchase

131

38.7082 USD

common stock

Purchase

100

38.6100 USD

common stock

Purchase

100

39.1100 USD

common stock

Purchase

90

39.0200 USD

common stock

Purchase

27

39.0915 USD

common stock

Purchase

16

38.4950 USD

common stock

Purchase

12

37.9000 USD

common stock

Purchase

10

39.3910 USD

common stock

Purchase

7

38.5500 USD

common stock

Purchase

4

39.1600 USD

common stock

Purchase

1

37.9500 USD

common stock

Sale

216,383

38.8178 USD

common stock

Sale

126,866

39.3884 USD

common stock

Sale

73,862

39.2901 USD

common stock

Sale

73,846

38.8855 USD

common stock

Sale

68,277

38.9411 USD

common stock

Sale

58,712

38.7658 USD

common stock

Sale

56,800

38.7903 USD

common stock

Sale

50,000

38.9850 USD

common stock

Sale

35,072

38.9147 USD

common stock

Sale

25,010

38.9031 USD

common stock

Sale

23,330

39.0292 USD

common stock

Sale

23,305

38.9003 USD

common stock

Sale

22,726

38.8806 USD

common stock

Sale

22,047

38.7517 USD

common stock

Sale

21,462

39.0289 USD

common stock

Sale

12,709

39.3900 USD

common stock

Sale

9,868

39.1200 USD

common stock

Sale

9,717

38.7820 USD

common stock

Sale

9,616

38.9123 USD

common stock

Sale

8,656

38.8192 USD

common stock

Sale

6,800

39.0393 USD

common stock

Sale

6,729

39.0269 USD

common stock

Sale

5,359

38.6180 USD

common stock

Sale

4,341

38.9336 USD

common stock

Sale

3,551

38.4396 USD

common stock

Sale

2,394

38.8396 USD

common stock

Sale

2,221

37.4744 USD

common stock

Sale

2,166

38.9710 USD

common stock

Sale

2,117

38.8995 USD

common stock

Sale

1,655

39.0558 USD

common stock

Sale

1,401

39.1018 USD

common stock

Sale

1,329

39.0755 USD

common stock

Sale

1,190

38.9215 USD

common stock

Sale

1,127

38.7579 USD

common stock

Sale

1,055

38.9601 USD

common stock

Sale

994

38.9241 USD

common stock

Sale

968

38.7494 USD

common stock

Sale

902

38.9244 USD

common stock

Sale

861

38.8826 USD

common stock

Sale

800

38.9150 USD

common stock

Sale

791

39.1007 USD

common stock

Sale

643

38.6979 USD

common stock

Sale

600

38.8300 USD

common stock

Sale

469

39.1207 USD

common stock

Sale

440

37.9917 USD

common stock

Sale

409

38.6908 USD

common stock

Sale

402

39.1500 USD

common stock

Sale

400

38.8550 USD

common stock

Sale

393

39.3700 USD

common stock

Sale

360

38.7677 USD

common stock

Sale

337

38.7152 USD

common stock

Sale

316

37.5065 USD

common stock

Sale

307

39.0563 USD

common stock

Sale

307

39.0439 USD

common stock

Sale

300

38.8633 USD

common stock

Sale

299

38.8303 USD

common stock

Sale

201

39.2406 USD

common stock

Sale

200

39.1750 USD

common stock

Sale

193

38.7973 USD

common stock

Sale

190

39.1210 USD

common stock

Sale

144

38.9052 USD

common stock

Sale

122

38.6900 USD

common stock

Sale

109

38.9924 USD

common stock

Sale

105

37.4300 USD

common stock

Sale

100

38.5300 USD

common stock

Sale

100

38.9100 USD

common stock

Sale

100

37.5400 USD

common stock

Sale

100

37.4100 USD

common stock

Sale

100

38.8400 USD

common stock

Sale

97

38.8063 USD

common stock

Sale

95

39.0950 USD

common stock

Sale

85

39.1100 USD

common stock

Sale

66

37.6000 USD

common stock

Sale

62

38.6500 USD

common stock

Sale

58

39.3650 USD

common stock

Sale

54

38.6712 USD

common stock

Sale

45

39.0200 USD

common stock

Sale

45

38.9417 USD

common stock

Sale

36

38.9978 USD

common stock

Sale

35

37.4400 USD

common stock

Sale

26

39.0686 USD

common stock

Sale

22

38.9977 USD

common stock

Sale

16

39.3800 USD

common stock

Sale

15

39.0333 USD

common stock

Sale

12

37.9000 USD

common stock

Sale

4

37.4800 USD

common stock

Sale

4

39.1600 USD

common stock

Sale

4

39.1700 USD

common stock

Sale

3

39.1000 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

Opening Long

20,000

38.8568 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

common stock

Put Options

Selling

4,700

39.0000 USD

American

19 Apr 2024

0.9457 USD

common stock

Call Options

Selling

6,800

40.0000 USD

American

19 Apr 2024

0.6000 USD

common stock

Call Options

Selling

2,500

40.0000 USD

American

17 May 2024

1.1592 USD

common stock

Call Options

Selling

50,000

40.0000 USD

American

17 May 2024

1.1910 USD

common stock

Put Options

Selling

2,400

37.0000 USD

American

19 Apr 2024

0.3604 USD

common stock

Put Options

Selling

4,200

38.0000 USD

American

19 Apr 2024

0.5131 USD

common stock

Put Options

Selling

1,900

38.0000 USD

American

19 Apr 2024

0.7078 USD

(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:

28 Mar 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213