Form 8.3 - INTERNATIONAL PAPER COMPANY

LONDON--(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	25-07-2024
(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	7,276,553	2.09
(2) Cash-settled derivatives:	0	0	0	0
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	400,000	0.11	0	0
TOTAL:	400,000	0.11	7,276,553	2.09

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 (USD)
Common Stock	Sale	8	46.32
Common Stock	Sale	21	45.91
Common Stock	Sale	22	45.32
Common Stock	Sale	23	45.62
Common Stock	Sale	24	45.41
Common Stock	Sale	24	45.90
Common Stock	Sale	28	45.15
Common Stock	Sale	32	45.28
Common Stock	Sale	32	45.95
Common Stock	Sale	36	45.52
Common Stock	Sale	40	46.01
Common Stock	Sale	40	46.33
Common Stock	Sale	48	45.67
Common Stock	Sale	52	45.12
Common Stock	Sale	60	45.72
Common Stock	Sale	64	45.79
Common Stock	Sale	75	45.87
Common Stock	Sale	79	45.71
Common Stock	Sale	94	45.89
Common Stock	Sale	100	45.14
Common Stock	Sale	100	45.16
Common Stock	Sale	100	45.82
Common Stock	Sale	100	45.84
Common Stock	Sale	100	45.93
Common Stock	Sale	100	46.13
Common Stock	Sale	100	46.29
Common Stock	Sale	100	46.46
Common Stock	Sale	100	46.47
Common Stock	Sale	100	46.48
Common Stock	Sale	106	45.92
Common Stock	Sale	111	45.81
Common Stock	Sale	119	46.04
Common Stock	Sale	148	45.70
Common Stock	Sale	150	45.17
Common Stock	Sale	150	45.65
Common Stock	Sale	154	45.64
Common Stock	Sale	200	45.97
Common Stock	Sale	200	46.09
Common Stock	Sale	200	46.41
Common Stock	Sale	248	45.53
Common Stock	Sale	250	46.28
Common Stock	Sale	251	45.77
Common Stock	Sale	252	46.15
Common Stock	Sale	253	45.83
Common Stock	Sale	264	46.36
Common Stock	Sale	295	45.80
Common Stock	Sale	319	45.86
Common Stock	Sale	320	46.23
Common Stock	Sale	336	45.96
Common Stock	Sale	348	46.34
Common Stock	Sale	400	45.13
Common Stock	Sale	400	45.85
Common Stock	Sale	400	46.26
Common Stock	Sale	499	45.94
Common Stock	Sale	943	46.18
Common Stock	Sale	1088	46.10
Common Stock	Sale	1094	46.27
Common Stock	Sale	1120	46.20
Common Stock	Sale	1321	46.31
Common Stock	Sale	1581	46.12
Common Stock	Sale	3011	46.26
Common Stock	Sale	4461	46.24
Common Stock	Sale	6400	44.65
Common Stock	Sale	15735	46.25
Common Stock	Sale	31056	46.22
Common Stock	Purchase	2	44.88
Common Stock	Purchase	10	46.05
Common Stock	Purchase	10	46.33
Common Stock	Purchase	13	45.90
Common Stock	Purchase	15	46.05
Common Stock	Purchase	16	46.02
Common Stock	Purchase	17	46.41
Common Stock	Purchase	24	46.49
Common Stock	Purchase	26	46.34
Common Stock	Purchase	29	46.40
Common Stock	Purchase	35	46.31
Common Stock	Purchase	50	45.72
Common Stock	Purchase	60	46.46
Common Stock	Purchase	62	44.89
Common Stock	Purchase	62	44.94
Common Stock	Purchase	75	46.29
Common Stock	Purchase	76	45.83
Common Stock	Purchase	87	45.51
Common Stock	Purchase	100	45.52
Common Stock	Purchase	100	45.76
Common Stock	Purchase	100	45.77
Common Stock	Purchase	100	45.80
Common Stock	Purchase	100	45.97
Common Stock	Purchase	100	46.08
Common Stock	Purchase	100	46.22
Common Stock	Purchase	100	46.24
Common Stock	Purchase	100	46.27
Common Stock	Purchase	100	46.30
Common Stock	Purchase	100	46.38
Common Stock	Purchase	100	46.45
Common Stock	Purchase	101	45.50
Common Stock	Purchase	101	46.44
Common Stock	Purchase	103	45.48
Common Stock	Purchase	114	46.16
Common Stock	Purchase	120	45.92
Common Stock	Purchase	121	45.32
Common Stock	Purchase	121	46.09
Common Stock	Purchase	128	46.11
Common Stock	Purchase	137	45.58
Common Stock	Purchase	150	45.94
Common Stock	Purchase	167	45.88
Common Stock	Purchase	177	45.63
Common Stock	Purchase	189	45.91
Common Stock	Purchase	190	46.38
Common Stock	Purchase	195	45.68
Common Stock	Purchase	200	45.53
Common Stock	Purchase	200	45.85
Common Stock	Purchase	200	46.01
Common Stock	Purchase	200	46.12
Common Stock	Purchase	200	46.12
Common Stock	Purchase	200	46.20
Common Stock	Purchase	200	46.37
Common Stock	Purchase	218	45.65
Common Stock	Purchase	220	45.93
Common Stock	Purchase	243	45.71
Common Stock	Purchase	250	46.17
Common Stock	Purchase	270	45.56
Common Stock	Purchase	291	45.64
Common Stock	Purchase	300	45.87
Common Stock	Purchase	331	45.57
Common Stock	Purchase	362	45.86
Common Stock	Purchase	365	46.03
Common Stock	Purchase	370	45.66
Common Stock	Purchase	415	45.69
Common Stock	Purchase	415	45.70
Common Stock	Purchase	415	46.18
Common Stock	Purchase	422	46.19
Common Stock	Purchase	463	45.67
Common Stock	Purchase	465	45.62
Common Stock	Purchase	487	46.36
Common Stock	Purchase	498	46.35
Common Stock	Purchase	552	46.13
Common Stock	Purchase	557	46.06
Common Stock	Purchase	577	46.33
Common Stock	Purchase	579	46.40
Common Stock	Purchase	593	46.43
Common Stock	Purchase	601	46.42
Common Stock	Purchase	608	45.74
Common Stock	Purchase	626	46.24
Common Stock	Purchase	667	45.82
Common Stock	Purchase	671	45.96
Common Stock	Purchase	687	46.20
Common Stock	Purchase	730	45.95
Common Stock	Purchase	752	45.72
Common Stock	Purchase	752	46.34
Common Stock	Purchase	763	45.84
Common Stock	Purchase	780	45.97
Common Stock	Purchase	780	46.02
Common Stock	Purchase	791	45.99
Common Stock	Purchase	825	46.23
Common Stock	Purchase	854	45.81
Common Stock	Purchase	860	46.16
Common Stock	Purchase	894	46.32
Common Stock	Purchase	919	45.98
Common Stock	Purchase	943	45.73
Common Stock	Purchase	1081	46.05
Common Stock	Purchase	1086	46.14
Common Stock	Purchase	1125	46.04
Common Stock	Purchase	1191	46.31
Common Stock	Purchase	1240	46.09
Common Stock	Purchase	1255	46.15
Common Stock	Purchase	1284	45.75
Common Stock	Purchase	1300	46.39
Common Stock	Purchase	1392	46.08
Common Stock	Purchase	1427	46.06
Common Stock	Purchase	1429	45.80
Common Stock	Purchase	1448	45.76
Common Stock	Purchase	1572	46.25
Common Stock	Purchase	1656	46.10
Common Stock	Purchase	1672	45.78
Common Stock	Purchase	1796	46.21
Common Stock	Purchase	1808	46.11
Common Stock	Purchase	1871	46.00
Common Stock	Purchase	2023	46.03
Common Stock	Purchase	2044	46.30
Common Stock	Purchase	2163	45.79
Common Stock	Purchase	2203	46.12
Common Stock	Purchase	2285	45.77
Common Stock	Purchase	2294	46.26
Common Stock	Purchase	2323	46.28
Common Stock	Purchase	2679	46.01
Common Stock	Purchase	2720	46.27
Common Stock	Purchase	2776	46.07
Common Stock	Purchase	3749	46.02
Common Stock	Purchase	4636	46.29
Common Stock	Purchase	49969	46.22

(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:	26-07-2024
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 [phone]. 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	Call option IP US 09/20/24 C50 Equity	Purchase	120,000	USD 50	American	09/20/24
Common Stock	Call Option IP US 09/20/24 C50 Equity	Purchase	280,000	USD 50	American	09/20/24

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 [phone].

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

Category Code: RET

Sequence Number: 1242145

Time of Receipt (offset from UTC): 20240726T130328+0100