Form 8.3 Smith (DS) 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:

31 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:

100,608,145

7.26%

13,177,190

0.95%

(2)

Cash-settled derivatives:

and/or controlled:

13,215,500

0.95%

98,192,033

7.08%

(3)

Stock-settled derivatives (including options)

and agreements to purchase/sell:

0

0.00%

0

0.00%

TOTAL:

113,823,645

8.21%

111,369,223

8.03%

(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

70,500,365

5.8250 GBP

10p ordinary

Purchase

38,353,331

5.8256 GBP

10p ordinary

Purchase

26,934,897

5.8251 GBP

10p ordinary

Purchase

12,000,000

5.8252 GBP

10p ordinary

Purchase

2,222,698

5.8255 GBP

10p ordinary

Purchase

2,040,785

5.8245 GBP

10p ordinary

Purchase

1,500,000

5.8998 GBP

10p ordinary

Purchase

1,392,362

5.8279 GBP

10p ordinary

Purchase

1,000,000

5.9354 GBP

10p ordinary

Purchase

696,263

5.8811 GBP

10p ordinary

Purchase

535,750

5.8645 GBP

10p ordinary

Purchase

500,000

5.9076 GBP

10p ordinary

Purchase

500,000

5.8868 GBP

10p ordinary

Purchase

500,000

5.9314 GBP

10p ordinary

Purchase

500,000

5.9259 GBP

10p ordinary

Purchase

471,151

5.7860 GBP

10p ordinary

Purchase

432,552

5.8823 GBP

10p ordinary

Purchase

388,568

5.7828 GBP

10p ordinary

Purchase

344,747

5.9038 GBP

10p ordinary

Purchase

300,000

5.8267 GBP

10p ordinary

Purchase

269,634

5.8041 GBP

10p ordinary

Purchase

256,475

5.8928 GBP

10p ordinary

Purchase

251,948

5.8855 GBP

10p ordinary

Purchase

227,647

5.8925 GBP

10p ordinary

Purchase

200,000

5.8528 GBP

10p ordinary

Purchase

160,794

5.8909 GBP

10p ordinary

Purchase

103,255

5.8034 GBP

10p ordinary

Purchase

94,419

5.8553 GBP

10p ordinary

Purchase

93,517

5.8841 GBP

10p ordinary

Purchase

80,296

5.8122 GBP

10p ordinary

Purchase

78,868

5.8547 GBP

10p ordinary

Purchase

70,662

5.8259 GBP

10p ordinary

Purchase

61,155

5.8566 GBP

10p ordinary

Purchase

58,871

5.8800 GBP

10p ordinary

Purchase

51,778

5.9210 GBP

10p ordinary

Purchase

38,410

5.9454 GBP

10p ordinary

Purchase

37,286

5.8490 GBP

10p ordinary

Purchase

22,321

5.8129 GBP

10p ordinary

Purchase

21,677

5.8701 GBP

10p ordinary

Purchase

21,485

5.9500 GBP

10p ordinary

Purchase

20,844

5.7987 GBP

10p ordinary

Purchase

19,761

5.8946 GBP

10p ordinary

Purchase

18,179

5.8117 GBP

10p ordinary

Purchase

16,210

5.8058 GBP

10p ordinary

Purchase

14,664

5.7935 GBP

10p ordinary

Purchase

13,171

5.8661 GBP

10p ordinary

Purchase

12,719

5.8473 GBP

10p ordinary

Purchase

12,666

5.9381 GBP

10p ordinary

Purchase

12,653

5.8015 GBP

10p ordinary

Purchase

12,215

5.8200 GBP

10p ordinary

Purchase

11,048

5.8186 GBP

10p ordinary

Purchase

11,002

5.7985 GBP

10p ordinary

Purchase

10,604

5.8082 GBP

10p ordinary

Purchase

9,629

5.9550 GBP

10p ordinary

Purchase

8,348

5.7992 GBP

10p ordinary

Purchase

8,316

5.8150 GBP

10p ordinary

Purchase

8,235

5.9600 GBP

10p ordinary

Purchase

7,800

5.8365 GBP

10p ordinary

Purchase

7,401

5.8054 GBP

10p ordinary

Purchase

7,137

5.8908 GBP

10p ordinary

Purchase

7,112

5.8053 GBP

10p ordinary

Purchase

6,846

5.7886 GBP

10p ordinary

Purchase

6,148

5.9250 GBP

10p ordinary

Purchase

6,076

5.8350 GBP

10p ordinary

Purchase

5,865

5.8691 GBP

10p ordinary

Purchase

5,831

5.8050 GBP

10p ordinary

Purchase

5,640

5.8017 GBP

10p ordinary

Purchase

5,621

5.9200 GBP

10p ordinary

Purchase

5,145

5.8014 GBP

10p ordinary

Purchase

5,116

5.9400 GBP

10p ordinary

Purchase

5,097

5.8100 GBP

10p ordinary

Purchase

5,015

5.8042 GBP

10p ordinary

Purchase

4,316

5.8055 GBP

10p ordinary

Purchase

4,149

5.7970 GBP

10p ordinary

Purchase

3,917

5.8178 GBP

10p ordinary

Purchase

3,913

5.9150 GBP

10p ordinary

Purchase

3,900

5.9417 GBP

10p ordinary

Purchase

3,809

5.8092 GBP

10p ordinary

Purchase

3,790

5.8037 GBP

10p ordinary

Purchase

3,768

5.9650 GBP

10p ordinary

Purchase

3,766

5.8232 GBP

10p ordinary

Purchase

3,737

5.7900 GBP

10p ordinary

Purchase

3,641

5.8278 GBP

10p ordinary

Purchase

3,510

5.8660 GBP

10p ordinary

Purchase

3,494

5.8300 GBP

10p ordinary

Purchase

3,484

5.7899 GBP

10p ordinary

Purchase

3,409

5.9087 GBP

10p ordinary

Purchase

3,301

5.9350 GBP

10p ordinary

Purchase

3,259

6.0000 GBP

10p ordinary

Purchase

3,099

5.8000 GBP

10p ordinary

Purchase

2,988

5.9750 GBP

10p ordinary

Purchase

2,948

5.8355 GBP

10p ordinary

Purchase

2,944

5.8850 GBP

10p ordinary

Purchase

2,941

5.7850 GBP

10p ordinary

Purchase

2,772

5.7950 GBP

10p ordinary

Purchase

2,582

5.9100 GBP

10p ordinary

Purchase

2,411

5.8450 GBP

10p ordinary

Purchase

2,397

5.9450 GBP

10p ordinary

Purchase

2,313

5.9142 GBP

10p ordinary

Purchase

2,215

5.8750 GBP

10p ordinary

Purchase

2,214

5.8887 GBP

10p ordinary

Purchase

1,876

5.9700 GBP

10p ordinary

Purchase

1,774

5.8091 GBP

10p ordinary

Purchase

1,773

5.9850 GBP

10p ordinary

Purchase

1,766

5.9525 GBP

10p ordinary

Purchase

1,738

5.9042 GBP

10p ordinary

Purchase

1,707

5.8725 GBP

10p ordinary

Purchase

1,692

5.7927 GBP

10p ordinary

Purchase

1,594

5.8175 GBP

10p ordinary

Purchase

1,493

5.8400 GBP

10p ordinary

Purchase

1,416

5.9050 GBP

10p ordinary

Purchase

1,409

5.9675 GBP

10p ordinary

Purchase

1,300

5.8625 GBP

10p ordinary

Purchase

1,266

5.7952 GBP

10p ordinary

Purchase

1,201

5.9000 GBP

10p ordinary

Purchase

1,192

5.9800 GBP

10p ordinary

Purchase

1,183

5.9300 GBP

10p ordinary

Purchase

981

5.8225 GBP

10p ordinary

Purchase

900

5.7975 GBP

10p ordinary

Purchase

861

5.9625 GBP

10p ordinary

Purchase

809

5.7875 GBP

10p ordinary

Purchase

800

6.0100 GBP

10p ordinary

Purchase

737

5.9950 GBP

10p ordinary

Purchase

715

5.7600 GBP

10p ordinary

Purchase

648

5.9275 GBP

10p ordinary

Purchase

639

6.0050 GBP

10p ordinary

Purchase

622

5.9425 GBP

10p ordinary

Purchase

618

5.8075 GBP

10p ordinary

Purchase

614

5.7800 GBP

10p ordinary

Purchase

579

5.9375 GBP

10p ordinary

Purchase

560

5.9575 GBP

10p ordinary

Purchase

557

5.9125 GBP

10p ordinary

Purchase

553

5.9875 GBP

10p ordinary

Purchase

538

5.9225 GBP

10p ordinary

Purchase

364

5.8650 GBP

10p ordinary

Purchase

348

5.8900 GBP

10p ordinary

Purchase

180

5.9007 GBP

10p ordinary

Purchase

126

5.8165 GBP

10p ordinary

Purchase

4

5.8144 GBP

10p ordinary

Sale

38,096,661

5.8258 GBP

10p ordinary

Sale

25,845,299

5.8250 GBP

10p ordinary

Sale

22,498,120

5.8253 GBP

10p ordinary

Sale

9,930,104

5.8255 GBP

10p ordinary

Sale

2,500,000

5.8273 GBP

10p ordinary

Sale

1,162,466

5.8939 GBP

10p ordinary

Sale

740,785

5.7926 GBP

10p ordinary

Sale

252,644

5.8893 GBP

10p ordinary

Sale

191,028

5.9338 GBP

10p ordinary

Sale

172,716

5.9270 GBP

10p ordinary

Sale

145,979

5.9639 GBP

10p ordinary

Sale

129,632

5.7995 GBP

10p ordinary

Sale

128,601

5.8966 GBP

10p ordinary

Sale

119,018

5.8945 GBP

10p ordinary

Sale

115,675

5.9472 GBP

10p ordinary

Sale

100,991

5.9099 GBP

10p ordinary

Sale

90,736

5.9045 GBP

10p ordinary

Sale

84,655

5.8982 GBP

10p ordinary

Sale

83,341

5.9022 GBP

10p ordinary

Sale

82,450

5.9219 GBP

10p ordinary

Sale

79,230

5.9292 GBP

10p ordinary

Sale

77,008

5.9233 GBP

10p ordinary

Sale

68,696

5.8099 GBP

10p ordinary

Sale

58,508

5.8673 GBP

10p ordinary

Sale

58,058

5.9315 GBP

10p ordinary

Sale

53,438

5.9393 GBP

10p ordinary

Sale

49,579

5.9107 GBP

10p ordinary

Sale

49,500

5.8923 GBP

10p ordinary

Sale

34,018

5.8078 GBP

10p ordinary

Sale

31,500

5.8739 GBP

10p ordinary

Sale

25,665

5.9391 GBP

10p ordinary

Sale

20,844

5.7987 GBP

10p ordinary

Sale

19,946

5.8010 GBP

10p ordinary

Sale

17,808

5.9014 GBP

10p ordinary

Sale

17,612

5.8005 GBP

10p ordinary

Sale

17,314

5.9357 GBP

10p ordinary

Sale

14,987

5.8973 GBP

10p ordinary

Sale

12,518

5.8200 GBP

10p ordinary

Sale

11,830

5.9280 GBP

10p ordinary

Sale

9,629

5.9550 GBP

10p ordinary

Sale

8,320

5.8150 GBP

10p ordinary

Sale

8,235

5.9600 GBP

10p ordinary

Sale

8,142

5.8964 GBP

10p ordinary

Sale

7,069

5.8001 GBP

10p ordinary

Sale

6,998

5.8782 GBP

10p ordinary

Sale

6,271

5.9595 GBP

10p ordinary

Sale

6,148

5.9250 GBP

10p ordinary

Sale

6,076

5.8350 GBP

10p ordinary

Sale

5,750

5.9200 GBP

10p ordinary

Sale

5,628

5.9500 GBP

10p ordinary

Sale

5,116

5.9400 GBP

10p ordinary

Sale

5,049

5.7984 GBP

10p ordinary

Sale

4,498

5.8100 GBP

10p ordinary

Sale

4,491

5.8011 GBP

10p ordinary

Sale

3,913

5.9150 GBP

10p ordinary

Sale

3,768

5.9650 GBP

10p ordinary

Sale

3,766

5.8232 GBP

10p ordinary

Sale

3,737

5.7900 GBP

10p ordinary

Sale

3,494

5.8300 GBP

10p ordinary

Sale

3,301

5.9350 GBP

10p ordinary

Sale

3,259

6.0000 GBP

10p ordinary

Sale

3,099

5.8000 GBP

10p ordinary

Sale

2,988

5.9750 GBP

10p ordinary

Sale

2,944

5.8850 GBP

10p ordinary

Sale

2,941

5.7850 GBP

10p ordinary

Sale

2,888

5.9110 GBP

10p ordinary

Sale

2,868

5.8996 GBP

10p ordinary

Sale

2,853

5.8750 GBP

10p ordinary

Sale

2,687

5.9422 GBP

10p ordinary

Sale

2,630

5.7950 GBP

10p ordinary

Sale

2,582

5.9100 GBP

10p ordinary

Sale

2,513

5.9618 GBP

10p ordinary

Sale

2,499

5.8050 GBP

10p ordinary

Sale

2,411

5.8450 GBP

10p ordinary

Sale

2,397

5.9450 GBP

10p ordinary

Sale

2,333

5.8938 GBP

10p ordinary

Sale

2,283

5.8725 GBP

10p ordinary

Sale

2,184

5.8175 GBP

10p ordinary

Sale

1,876

5.9700 GBP

10p ordinary

Sale

1,773

5.9850 GBP

10p ordinary

Sale

1,766

5.9525 GBP

10p ordinary

Sale

1,641

5.9739 GBP

10p ordinary

Sale

1,416

5.9050 GBP

10p ordinary

Sale

1,409

5.9675 GBP

10p ordinary

Sale

1,399

5.8800 GBP

10p ordinary

Sale

1,367

5.8379 GBP

10p ordinary

Sale

1,300

5.8625 GBP

10p ordinary

Sale

1,266

5.7957 GBP

10p ordinary

Sale

1,222

5.8686 GBP

10p ordinary

Sale

1,222

5.9714 GBP

10p ordinary

Sale

1,201

5.9000 GBP

10p ordinary

Sale

1,192

5.9800 GBP

10p ordinary

Sale

1,183

5.9300 GBP

10p ordinary

Sale

1,123

5.8619 GBP

10p ordinary

Sale

1,000

5.9975 GBP

10p ordinary

Sale

981

5.8225 GBP

10p ordinary

Sale

931

5.8650 GBP

10p ordinary

Sale

861

5.9625 GBP

10p ordinary

Sale

800

6.0100 GBP

10p ordinary

Sale

737

5.9950 GBP

10p ordinary

Sale

715

5.7600 GBP

10p ordinary

Sale

648

5.9275 GBP

10p ordinary

Sale

639

6.0050 GBP

10p ordinary

Sale

622

5.9425 GBP

10p ordinary

Sale

612

5.8958 GBP

10p ordinary

Sale

597

5.8105 GBP

10p ordinary

Sale

579

5.9375 GBP

10p ordinary

Sale

560

5.9575 GBP

10p ordinary

Sale

557

5.9125 GBP

10p ordinary

Sale

553

5.9875 GBP

10p ordinary

Sale

538

5.9225 GBP

10p ordinary

Sale

348

5.8900 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

Decreasing Short

210,248

5.8250 GBP

10p ordinary

SWAP

Decreasing Short

1,123

5.8619 GBP

10p ordinary

SWAP

Decreasing Short

567

5.8650 GBP

10p ordinary

SWAP

Decreasing Short

576

5.8725 GBP

10p ordinary

SWAP

Decreasing Short

31,500

5.8740 GBP

10p ordinary

SWAP

Decreasing Short

117

5.8800 GBP

10p ordinary

SWAP

Decreasing Short

2,333

5.8939 GBP

10p ordinary

SWAP

Decreasing Short

239,644

5.8979 GBP

10p ordinary

SWAP

Decreasing Short

120,105

5.8990 GBP

10p ordinary

SWAP

Decreasing Short

17,314

5.9357 GBP

10p ordinary

SWAP

Decreasing Short

54,574

5.9464 GBP

10p ordinary

SWAP

Decreasing Short

497

5.9477 GBP

10p ordinary

SWAP

Decreasing Short

9,761

5.9547 GBP

10p ordinary

SWAP

Decreasing Short

145,979

5.9639 GBP

10p ordinary

SWAP

Decreasing Short

8,637

5.9646 GBP

10p ordinary

SWAP

Decreasing Short

50,000

5.9685 GBP

10p ordinary

SWAP

Decreasing Short

25,560

5.9872 USD

10p ordinary

SWAP

Decreasing Short

225,568

5.9989 USD

10p ordinary

SWAP

Increasing Short

388,568

5.7828 GBP

10p ordinary

SWAP

Increasing Short

5,000

5.8018 GBP

10p ordinary

SWAP

Increasing Short

80,296

5.8122 GBP

10p ordinary

SWAP

Increasing Short

1,179,520

5.8247 GBP

10p ordinary

SWAP

Increasing Short

10,774,332

5.8250 GBP

10p ordinary

SWAP

Increasing Short

1,103,493

5.8251 GBP

10p ordinary

SWAP

Increasing Short

70,662

5.8259 USD

10p ordinary

SWAP

Increasing Short

500,000

5.8264 GBP

10p ordinary

SWAP

Increasing Short

170,000

5.8265 GBP

10p ordinary

SWAP

Increasing Short

200,000

5.8267 GBP

10p ordinary

SWAP

Increasing Short

2,517,379

5.8293 GBP

10p ordinary

SWAP

Increasing Short

111,700

5.8314 GBP

10p ordinary

SWAP

Increasing Short

114,574

5.8328 GBP

10p ordinary

SWAP

Increasing Short

2,088,625

5.8456 GBP

10p ordinary

SWAP

Increasing Short

200,000

5.8528 USD

10p ordinary

SWAP

Increasing Short

535,750

5.8645 GBP

10p ordinary

SWAP

Increasing Short

139,541

5.8743 GBP

10p ordinary

SWAP

Increasing Short

20,148

5.8785 GBP

10p ordinary

SWAP

Increasing Short

500,000

5.8868 USD

10p ordinary

SWAP

Increasing Short

124,944

5.8881 GBP

10p ordinary

SWAP

Increasing Short

2,214

5.8887 GBP

10p ordinary

SWAP

Increasing Short

777,299

5.8918 USD

10p ordinary

SWAP

Increasing Short

256,475

5.8929 GBP

10p ordinary

SWAP

Increasing Short

500,000

5.9076 USD

10p ordinary

SWAP

Increasing Short

2,313

5.9142 GBP

10p ordinary

SWAP

Increasing Short

9,761

5.9215 GBP

10p ordinary

SWAP

Increasing Short

500,000

5.9259 USD

10p ordinary

SWAP

Increasing Short

65,845

5.9275 GBP

10p ordinary

SWAP

Increasing Short

50,000

5.9290 GBP

10p ordinary

SWAP

Increasing Short

500,000

5.9314 USD

10p ordinary

SWAP

Increasing Short

225,568

5.9919 USD

10p ordinary

SWAP

Increasing Short

225,568

5.9989 USD

10p ordinary

SWAP

Increasing Short

114,738

6.0299 USD

10p ordinary

CFD

Decreasing Short

398

5.8250 GBP

10p ordinary

CFD

Decreasing Short

3,541

5.9465 GBP

10p ordinary

CFD

Increasing Short

107,820

5.8044 GBP

10p ordinary

CFD

Increasing Short

15,481,134

5.8250 GBP

10p ordinary

CFD

Increasing Short

11,600,000

5.8251 GBP

10p ordinary

CFD

Increasing Short

12,000,000

5.8252 GBP

10p ordinary

CFD

Increasing Short

32,431

5.8273 GBP

10p ordinary

CFD

Increasing Short

6,282

5.8786 GBP

10p ordinary

CFD

Increasing Short

112,249

5.9503 GBP

10p ordinary

CFD

Increasing Short

157,939

5.9544 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:

03 Feb 2025

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213