Form 8.3 - International Paper Company

December 27, 2024 02:00 AM Eastern Standard Time

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:		Millennium International Management LP
(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		24^th December 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, Smith (DS) 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 (US4601461035)
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	5,055,618	1.456%	2,229,989	0.642%
(2) Cash-settled derivatives:	1,937	0.001%	911,760	0.263%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	12,600	0.004%	157,800	0.045%
TOTAL:	5,070,155	1.460%	3,299,549	0.950%

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:
Details, including nature of the rights concerned and relevant percentages:

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)
US4601461035	Purchase	92	54.85
US4601461035	Purchase	101	54.76
US4601461035	Purchase	227	54.80
US4601461035	Purchase	100	54.70
US4601461035	Sale	2,235	55.11
US4601461035	Purchase	113	54.72
US4601461035	Purchase	434	54.77
US4601461035	Purchase	4	54.89
US4601461035	Purchase	9	54.75
US4601461035	Purchase	8	54.81
US4601461035	Purchase	1,600	55.00
US4601461035	Purchase	12,964	54.98
US4601461035	Sale	12,964	54.98
US4601461035	Purchase	2	54.71
US4601461035	Purchase	13,561	54.76
US4601461035	Purchase	1,015	54.66
US4601461035	Purchase	18	54.68
US4601461035	Purchase	597	54.99
US4601461035	Sale	597	54.99
US4601461035	Purchase	1,015	54.97
US4601461035	Sale	1,015	54.97
US4601461035	Purchase	39	54.72
US4601461035	Sale	7	54.82
US4601461035	Sale	94	54.80
US4601461035	Sale	10	54.70
US4601461035	Purchase	2,907	55.11
US4601461035	Sale	11,012	55.11
US4601461035	Sale	6	54.72
US4601461035	Sale	30	54.77
US4601461035	Sale	10	54.88
US4601461035	Sale	25	54.92
US4601461035	Sale	100	54.69
US4601461035	Sale	100	55.03
US4601461035	Sale	128	54.71
US4601461035	Sale	82	54.80
US4601461035	Purchase	2,235	55.11
US4601461035	Sale	966	55.11
US4601461035	Sale	100	54.68
US4601461035	Sale	184	54.86
US4601461035	Sale	13	54.87
US4601461035	Sale	266	55.04
US4601461035	Sale	5	54.93
US4601461035	Sale	63	54.94
US4601461035	Sale	203	54.83
US4601461035	Purchase	4	54.67
US4601461035	Sale	100	54.67
US4601461035	Purchase	661	54.85
US4601461035	Sale	1	54.85
US4601461035	Sale	135	54.98
US4601461035	Sale	93	54.92
US4601461035	Sale	10	55.03
US4601461035	Purchase	94	54.80
US4601461035	Purchase	97	54.84
US4601461035	Sale	179	54.84
US4601461035	Purchase	3,473	55.11
US4601461035	Sale	236	55.11
US4601461035	Purchase	2,161	54.99
US4601461035	Sale	2,238	54.99
US4601461035	Purchase	63	54.78
US4601461035	Sale	4	54.78
US4601461035	Purchase	196	54.97
US4601461035	Sale	21	54.97
US4601461035	Purchase	2,161	54.72
US4601461035	Purchase	30	54.77
US4601461035	Sale	133	54.86
US4601461035	Purchase	3	54.87
US4601461035	Sale	15	54.87
US4601461035	Sale	148	54.96
US4601461035	Sale	1	54.89
US4601461035	Sale	121	54.93
US4601461035	Purchase	32	54.79
US4601461035	Purchase	39	54.95
US4601461035	Sale	1,222	54.95
US4601461035	Sale	134	54.94
US4601461035	Purchase	3	54.83
US4601461035	Sale	71	54.75
US4601461035	Purchase	6	54.81
US4601461035	Sale	738	54.91
US4601461035	Purchase	18	54.74
US4601461035	Sale	100	54.74
US4601461035	Sale	158	55.05
US4601461035	Sale	43	55.00
US4601461035	Sale	352	54.90
US4601461035	Sale	12	55.02
US4601461035	Sale	14	55.10
US4601461035	Sale	10	55.08
US4601461035	Purchase	1	55.14
US4601461035	Sale	27	55.14
US4601461035	Sale	1	55.13
US4601461035	Sale	461	55.07
US4601461035	Sale	1,798	54.85
US4601461035	Purchase	12,906	54.98
US4601461035	Sale	15,938	54.98
US4601461035	Sale	238	54.92
US4601461035	Sale	771	55.03
US4601461035	Sale	2	54.71
US4601461035	Sale	16,042	54.76
US4601461035	Sale	1,015	54.66
US4601461035	Sale	735	54.80
US4601461035	Sale	132	54.70
US4601461035	Sale	1,040	54.84
US4601461035	Purchase	200	55.11
US4601461035	Sale	12,277	55.11
US4601461035	Sale	104	54.68
US4601461035	Purchase	3,337	54.99
US4601461035	Sale	4,063	54.99
US4601461035	Sale	817	54.78
US4601461035	Purchase	356	54.97
US4601461035	Sale	1,345	54.97
US4601461035	Sale	34	54.72
US4601461035	Sale	1,249	54.77
US4601461035	Sale	596	54.86
US4601461035	Sale	930	54.82
US4601461035	Sale	1,355	54.87
US4601461035	Sale	284	54.96
US4601461035	Sale	1,807	54.89
US4601461035	Sale	36	54.93
US4601461035	Sale	3,414	54.79
US4601461035	Sale	2,729	54.95
US4601461035	Sale	5,189	54.94
US4601461035	Sale	2,082	54.83
US4601461035	Sale	995	54.75
US4601461035	Sale	303	54.81
US4601461035	Sale	387	54.91
US4601461035	Sale	421	54.74
US4601461035	Sale	300	55.05
US4601461035	Purchase	138	55.00
US4601461035	Sale	1,404	55.00
US4601461035	Sale	452	54.90
US4601461035	Sale	200	55.02
US4601461035	Sale	441	54.88
US4601461035	Sale	52	55.10
US4601461035	Sale	341	55.14
US4601461035	Sale	365	55.15
US4601461035	Sale	25	54.73
US4601461035	Purchase	654	55.11
US4601461035	Purchase	210,118	55.11
US4601461035	Sale	21	54.92
US4601461035	Sale	20	55.03
US4601461035	Sale	20	54.97
US4601461035	Sale	92	55.04
US4601461035	Sale	25	54.95
US4601461035	Sale	34	54.91
US4601461035	Sale	452	55.06
US4601461035	Sale	321	55.05
US4601461035	Sale	108	55.02
US4601461035	Sale	60	55.15
US4601461035	Sale	200	55.11
US4601461035	Purchase	200	54.96
US4601461035	Purchase	600	54.49
US4601461035	Purchase	38	54.69
US4601461035	Purchase	114	54.70
US4601461035	Purchase	3	55.11
US4601461035	Purchase	380	54.99
US4601461035	Purchase	65	54.97
US4601461035	Sale	249	54.86
US4601461035	Purchase	427	54.95
US4601461035	Purchase	202	54.94
US4601461035	Purchase	920	54.91
US4601461035	Purchase	251	55.06
US4601461035	Purchase	6	55.05
US4601461035	Sale	76	55.05
US4601461035	Purchase	92	54.85
US4601461035	Purchase	101	54.76
US4601461035	Purchase	227	54.80
US4601461035	Purchase	100	54.70
US4601461035	Sale	2,235	55.11
US4601461035	Purchase	113	54.72
US4601461035	Purchase	434	54.77
US4601461035	Purchase	4	54.89
US4601461035	Purchase	9	54.75
US4601461035	Purchase	8	54.81
US4601461035	Purchase	1,600	55.00
US4601461035	Purchase	12,964	54.98
US4601461035	Sale	12,964	54.98
US4601461035	Purchase	2	54.71
US4601461035	Purchase	13,561	54.76
US4601461035	Purchase	1,015	54.66
US4601461035	Purchase	18	54.68
US4601461035	Purchase	597	54.99
US4601461035	Sale	597	54.99
US4601461035	Purchase	1,015	54.97
US4601461035	Sale	1,015	54.97
US4601461035	Purchase	39	54.72
US4601461035	Sale	7	54.82
US4601461035	Sale	94	54.80
US4601461035	Sale	10	54.70
US4601461035	Purchase	2,907	55.11
US4601461035	Sale	11,012	55.11
US4601461035	Sale	6	54.72
US4601461035	Sale	30	54.77
US4601461035	Sale	10	54.88
US4601461035	Sale	25	54.92
US4601461035	Sale	100	54.69
US4601461035	Sale	100	55.03
US4601461035	Sale	128	54.71
US4601461035	Sale	82	54.80
US4601461035	Purchase	2,235	55.11
US4601461035	Sale	966	55.11
US4601461035	Sale	100	54.68
US4601461035	Sale	184	54.86
US4601461035	Sale	13	54.87
US4601461035	Sale	266	55.04
US4601461035	Sale	5	54.93
US4601461035	Sale	63	54.94
US4601461035	Sale	203	54.83
US4601461035	Purchase	4	54.67
US4601461035	Sale	100	54.67
US4601461035	Purchase	661	54.85
US4601461035	Sale	1	54.85
US4601461035	Sale	135	54.98
US4601461035	Sale	93	54.92
US4601461035	Sale	10	55.03
US4601461035	Purchase	94	54.80
US4601461035	Purchase	97	54.84
US4601461035	Sale	179	54.84
US4601461035	Purchase	3,473	55.11
US4601461035	Sale	236	55.11
US4601461035	Purchase	2,161	54.99
US4601461035	Sale	2,238	54.99
US4601461035	Purchase	63	54.78
US4601461035	Sale	4	54.78
US4601461035	Purchase	196	54.97
US4601461035	Sale	21	54.97
US4601461035	Purchase	2,161	54.72
US4601461035	Purchase	30	54.77
US4601461035	Sale	133	54.86
US4601461035	Purchase	3	54.87
US4601461035	Sale	15	54.87
US4601461035	Sale	148	54.96
US4601461035	Sale	1	54.89
US4601461035	Sale	121	54.93
US4601461035	Purchase	32	54.79
US4601461035	Purchase	39	54.95
US4601461035	Sale	1,222	54.95
US4601461035	Sale	134	54.94
US4601461035	Purchase	3	54.83
US4601461035	Sale	71	54.75
US4601461035	Purchase	6	54.81
US4601461035	Sale	738	54.91
US4601461035	Purchase	18	54.74
US4601461035	Sale	100	54.74
US4601461035	Sale	158	55.05
US4601461035	Sale	43	55.00
US4601461035	Sale	352	54.90
US4601461035	Sale	12	55.02
US4601461035	Sale	14	55.10
US4601461035	Sale	10	55.08
US4601461035	Purchase	1	55.14
US4601461035	Sale	27	55.14
US4601461035	Sale	1	55.13
US4601461035	Sale	461	55.07
US4601461035	Sale	1,798	54.85
US4601461035	Purchase	12,906	54.98
US4601461035	Sale	15,938	54.98
US4601461035	Sale	238	54.92
US4601461035	Sale	771	55.03
US4601461035	Sale	2	54.71
US4601461035	Sale	16,042	54.76
US4601461035	Sale	1,015	54.66
US4601461035	Sale	735	54.80
US4601461035	Sale	132	54.70
US4601461035	Sale	1,040	54.84
US4601461035	Purchase	200	55.11
US4601461035	Sale	12,277	55.11
US4601461035	Sale	104	54.68
US4601461035	Purchase	3,337	54.99
US4601461035	Sale	4,063	54.99
US4601461035	Sale	817	54.78
US4601461035	Purchase	356	54.97
US4601461035	Sale	1,345	54.97
US4601461035	Sale	34	54.72
US4601461035	Sale	1,249	54.77
US4601461035	Sale	596	54.86
US4601461035	Sale	930	54.82
US4601461035	Sale	1,355	54.87
US4601461035	Sale	284	54.96
US4601461035	Sale	1,807	54.89
US4601461035	Sale	36	54.93
US4601461035	Sale	3,414	54.79
US4601461035	Sale	2,729	54.95
US4601461035	Sale	5,189	54.94
US4601461035	Sale	2,082	54.83
US4601461035	Sale	995	54.75
US4601461035	Sale	303	54.81
US4601461035	Sale	387	54.91
US4601461035	Sale	421	54.74
US4601461035	Sale	300	55.05
US4601461035	Purchase	138	55.00
US4601461035	Sale	1,404	55.00
US4601461035	Sale	452	54.90
US4601461035	Sale	200	55.02
US4601461035	Sale	441	54.88
US4601461035	Sale	52	55.10
US4601461035	Sale	341	55.14
US4601461035	Sale	365	55.15
US4601461035	Sale	25	54.73
US4601461035	Purchase	654	55.11
US4601461035	Purchase	210,118	55.11
US4601461035	Sale	21	54.92
US4601461035	Sale	20	55.03
US4601461035	Sale	20	54.97
US4601461035	Sale	92	55.04
US4601461035	Sale	25	54.95
US4601461035	Sale	34	54.91
US4601461035	Sale	452	55.06
US4601461035	Sale	321	55.05
US4601461035	Sale	108	55.02
US4601461035	Sale	60	55.15
US4601461035	Sale	200	55.11
US4601461035	Purchase	200	54.96
US4601461035	Purchase	600	54.49
US4601461035	Purchase	38	54.69
US4601461035	Purchase	114	54.70
US4601461035	Purchase	3	55.11
US4601461035	Purchase	380	54.99
US4601461035	Purchase	65	54.97
US4601461035	Sale	249	54.86
US4601461035	Purchase	427	54.95
US4601461035	Purchase	202	54.94
US4601461035	Purchase	920	54.91
US4601461035	Purchase	251	55.06
US4601461035	Purchase	6	55.05
US4601461035	Sale	76	55.05

(b) Cash-settled derivative transactions

Class of relevant security

Product description

e.g. CFD

Nature of dealing

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

Number of reference securities

Price per unit

(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 (USD)

US4601461035

Put Option

Purchasing

1,000

52.50

American

21/02/2025

2.33

(ii) Exercise

Class of relevant security

Product description

e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(USD)

(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)

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^th December 2024
Contact name:		Stephen Glasper
Telephone number:		+44 203 398 2166

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. 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:	Millennium International Management LP
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 (USD)	Type e.g. American, European etc.	Expiry date
US4601461035	Call Option	Purchased	300	40.00	American	17/01/2025
US4601461035	Put Option	Purchased	800	32.50	American	17/01/2025
US4601461035	Call Option	Purchased	12,200	45.00	American	17/01/2025
US4601461035	Put Option	Purchased	65,800	45.00	American	17/01/2025
US4601461035	Call Option	Purchased	100	47.50	American	16/01/2026
US4601461035	Put Option	Purchased	40,900	47.50	American	17/01/2025
US4601461035	Put Option	Purchased	1,000	50.00	American	17/01/2025
US4601461035	Put Option	Purchased	10,700	55.00	American	17/01/2025
US4601461035	Put Option	Purchased	21,200	57.50	American	17/01/2025
US4601461035	Put Option	Purchased	800	57.50	American	17/04/2025
US4601461035	Put Option	Purchased	2,900	56.00	American	24/01/2025
US4601461035	Put Option	Purchased	4,800	55.00	American	21/02/2025
US4601461035	Put Option	Purchased	7,900	52.50	American	21/02/2025
US4601461035	Put Option	Purchased	1,000	52.50	American	17/04/2025

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.

Category Code: RET

Sequence Number: 1270418

Time of Receipt (offset from UTC): 20241226T122546+0000

Contacts

Millennium Partners, L.P.

Contacts

Contacts

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