Form 8.3 - INTERNATIONAL PAPER COMPANY

LONDON, June 17, 2024--(BUSINESS WIRE)--

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:	Qube Research & Technologies Limited
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	International Paper Company
(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: For an opening position disclosure, state the latest practicable date prior to the disclosure	14-06-2024
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A"	Yes - DS Smith plc

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(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:	0	0	3,779,896	1.09
(2) Cash-settled derivatives:	0	0	0	0
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	400,000*	0.115	0	0
TOTAL:	400,000	0.115	3,779,896	1.09

*This long position relates to a reverse collar transaction. See supplemental form 8 for full details

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:	0
Details, including nature of the rights concerned and relevant percentages:	0

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
Common Stock	Purchase	100	44.88
Common Stock	Purchase	1900	44.89
Common Stock	Purchase	106	44.8975
Common Stock	Purchase	1245	44.9
Common Stock	Purchase	200	44.91
Common Stock	Purchase	100	44.92
Common Stock	Purchase	354	44.93
Common Stock	Purchase	100	44.935
Common Stock	Purchase	639	44.94
Common Stock	Purchase	200	44.945
Common Stock	Purchase	866	44.95
Common Stock	Purchase	300	44.955
Common Stock	Purchase	200	44.96
Common Stock	Purchase	100	44.97
Common Stock	Purchase	100	44.975
Common Stock	Purchase	100	44.98
Common Stock	Purchase	100	44.99
Common Stock	Purchase	100	44.995
Common Stock	Purchase	100	45
Common Stock	Purchase	1972	45.01
Common Stock	Purchase	100	45.05
Common Stock	Purchase	170	45.06
Common Stock	Purchase	200	45.08
Common Stock	Purchase	100	45.085
Common Stock	Purchase	300	45.09
Common Stock	Purchase	100	45.095
Common Stock	Purchase	725	45.1
Common Stock	Purchase	100	45.105
Common Stock	Purchase	504	45.11
Common Stock	Purchase	300	45.115
Common Stock	Purchase	201	45.12
Common Stock	Purchase	200	45.14
Common Stock	Purchase	100	45.15
Common Stock	Purchase	200	45.155
Common Stock	Purchase	100	45.16
Common Stock	Purchase	300	45.17
Common Stock	Purchase	129	45.23
Common Stock	Purchase	200	45.3
Common Stock	Purchase	300	45.31
Common Stock	Purchase	400	45.32
Common Stock	Purchase	100	45.325
Common Stock	Purchase	501	45.33
Common Stock	Purchase	467	45.34
Common Stock	Purchase	100	45.345
Common Stock	Purchase	200	45.35
Common Stock	Purchase	500	45.355
Common Stock	Purchase	100	45.36
Common Stock	Purchase	600	45.37
Common Stock	Purchase	200	45.375
Common Stock	Purchase	700	45.38
Common Stock	Purchase	200	45.385
Common Stock	Purchase	1391	45.39
Common Stock	Purchase	500	45.395
Common Stock	Purchase	1000	45.4
Common Stock	Purchase	2198	45.41
Common Stock	Purchase	100	45.415
Common Stock	Purchase	600	45.42
Common Stock	Purchase	900	45.425
Common Stock	Purchase	1622	45.43
Common Stock	Purchase	100	45.435
Common Stock	Purchase	3001	45.44
Common Stock	Purchase	700	45.45
Common Stock	Purchase	100	45.455
Common Stock	Purchase	402	45.46
Common Stock	Purchase	300	45.47
Common Stock	Purchase	600	45.48
Common Stock	Purchase	1400	45.49
Common Stock	Purchase	600	45.5
Common Stock	Purchase	811	45.51
Common Stock	Purchase	700	45.52
Common Stock	Sale	395	44.84
Common Stock	Sale	124	44.85
Common Stock	Sale	101	44.86
Common Stock	Sale	100	44.865
Common Stock	Sale	170	44.87
Common Stock	Sale	366	44.88
Common Stock	Sale	6816	44.89
Common Stock	Sale	249	44.9
Common Stock	Sale	400	44.91
Common Stock	Sale	300	44.92
Common Stock	Sale	214	44.93
Common Stock	Sale	3904	44.94
Common Stock	Sale	2134	44.95
Common Stock	Sale	1966	44.96
Common Stock	Sale	648	44.97
Common Stock	Sale	816	44.98
Common Stock	Sale	119	44.99
Common Stock	Sale	1993	45
Common Stock	Sale	216	45.005
Common Stock	Sale	378	45.01
Common Stock	Sale	200	45.015
Common Stock	Sale	525	45.02
Common Stock	Sale	99	45.03
Common Stock	Sale	838	45.04
Common Stock	Sale	505	45.05
Common Stock	Sale	1914	45.06
Common Stock	Sale	3085	45.07
Common Stock	Sale	3117	45.08
Common Stock	Sale	100	45.085
Common Stock	Sale	2880	45.09
Common Stock	Sale	2181	45.1
Common Stock	Sale	100	45.105
Common Stock	Sale	4253	45.11
Common Stock	Sale	200	45.115
Common Stock	Sale	845	45.12
Common Stock	Sale	1288	45.14
Common Stock	Sale	91	45.145
Common Stock	Sale	3568	45.15
Common Stock	Sale	99	45.155
Common Stock	Sale	1765	45.16
Common Stock	Sale	2217	45.17
Common Stock	Sale	100	45.175
Common Stock	Sale	1120	45.18
Common Stock	Sale	101	45.19
Common Stock	Sale	717	45.2
Common Stock	Sale	655	45.21
Common Stock	Sale	342	45.22
Common Stock	Sale	3956	45.23
Common Stock	Sale	9135	45.24
Common Stock	Sale	168	45.245
Common Stock	Sale	2794	45.25
Common Stock	Sale	162	45.27
Common Stock	Sale	645	45.28
Common Stock	Sale	200	45.3
Common Stock	Sale	468	45.33
Common Stock	Sale	200	45.34
Common Stock	Sale	100	45.355
Common Stock	Sale	500	45.36
Common Stock	Sale	600	45.37
Common Stock	Sale	100	45.38
Common Stock	Sale	600	45.39
Common Stock	Sale	100	45.395
Common Stock	Sale	900	45.4
Common Stock	Sale	1460	45.41
Common Stock	Sale	800	45.415
Common Stock	Sale	778	45.42
Common Stock	Sale	700	45.425
Common Stock	Sale	2771	45.43
Common Stock	Sale	400	45.435
Common Stock	Sale	786	45.44
Common Stock	Sale	100	45.445
Common Stock	Sale	506	45.45
Common Stock	Sale	300	45.455
Common Stock	Sale	1278	45.46
Common Stock	Sale	100	45.465
Common Stock	Sale	1046	45.47
Common Stock	Sale	200	45.475
Common Stock	Sale	375	45.48
Common Stock	Sale	908	45.49
Common Stock	Sale	701	45.5
Common Stock	Sale	200	45.505
Common Stock	Sale	400	45.51
Common Stock	Sale	200	45.515
Common Stock	Sale	200	45.52
Common Stock	Sale	100	45.525
Common Stock	Sale	200	45.53
Common Stock	Sale	300	45.54
Common Stock	Sale	100	45.56

(b) Cash-settled derivative transactions

Class of relevant security

Product description e.g. call option

Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of securities

Exercise price per unit (USD)

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit (USD)

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii) Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit
0	0	0	0	0

(d) Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)
0	0	0	0

4. OTHER INFORMATION

(a) Indemnity and other dealing 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 person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"

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 or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none"

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

YES

Date of disclosure:	17-06-2024
Contact name:	Stuart Brown
Telephone number:	00442070722969

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

1. KEY INFORMATION

Full name of person making disclosure:	Qube Research & Technologies Limited
Name of offeror/offeree in relation to whose relevant securities the disclosure relates:	International Paper Company

2. STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

Class of relevant security	Product description e.g. call option	Written or purchased	Number of securities to which option or derivative relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date
Common Stock	Put Option IP US 07/19/24 P40 Equity	Written	60,000	USD 40	American	07/19/24
Common Stock	Call option IP US 09/20/24 C50 Equity	Purchase	120,000	USD 50	American	09/20/24
Common Stock	Put Option IP US07/19/24 P37.5 Equity	Written	60,000	USD 37.5	American	07/19/24
Common Stock	Put Option IP US 07/19/24 P40 Equity	Written	140,000	USD 40	American	07/19/24
Common Stock	Call Option IP US 09/20/24 C50 Equity	Purchase	280,000	USD 50	American	09/20/24
Common Stock	Put Option IP US 07/19/24 P37.5 Equity	Written	140,000	USD 37.5	American	07/19/24

3. AGREEMENTS TO PURCHASE OR SELL ETC.

Full details should be given so that the nature of the interest or position can be fully understood:

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

The currency of all prices and other monetary amounts should be stated.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240617994885/en/

Contacts

Qube Research & Technologies LTD