Form 8.3 - International Paper Company

27 December 2024, 15:00

Source - LSE Regulatory

RNS Number : 4784R

Citadel Group

27 December 2024

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:	Citadel Group
(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.	N/A
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	INTERNATIONAL PAPER CO
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:	N/A
(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure	26 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, 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	ISIN US4601461035
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	992	0.00	3,026,195	0.87
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,651,700	0.47	1,361,800	0.39
TOTAL:	1,652,692	0.47	4,387,995	1.26

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

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	Buy Transaction	10	54.9700 USD
Common	Buy Transaction	149	55.0500 USD
Common	Buy Transaction	14	55.0800 USD
Common	Buy Transaction	200	55.0850 USD
Common	Buy Transaction	30	55.0897 USD
Common	Buy Transaction	394	55.0971 USD
Common	Buy Transaction	100	55.1010 USD
Common	Buy Transaction	2,609	55.1075 USD
Common	Buy Transaction	330	55.1092 USD
Common	Buy Transaction	11	55.1100 USD
Common	Buy Transaction	410	55.1200 USD
Common	Buy Transaction	151	55.1201 USD
Common	Buy Transaction	1,746	55.1231 USD
Common	Buy Transaction	210	55.1250 USD
Common	Buy Transaction	396	55.1265 USD
Common	Buy Transaction	697	55.1299 USD
Common	Buy Transaction	3,244	55.1300 USD
Common	Buy Transaction	385	55.1314 USD
Common	Buy Transaction	993	55.1317 USD
Common	Buy Transaction	425	55.1338 USD
Common	Buy Transaction	7,614	55.1342 USD
Common	Buy Transaction	974	55.1359 USD
Common	Buy Transaction	939	55.1361 USD
Common	Buy Transaction	196	55.1367 USD
Common	Buy Transaction	187	55.1368 USD
Common	Buy Transaction	43	55.1372 USD
Common	Buy Transaction	327	55.1383 USD
Common	Buy Transaction	59	55.1400 USD
Common	Buy Transaction	312	55.1423 USD
Common	Buy Transaction	188	55.1434 USD
Common	Buy Transaction	58	55.1447 USD
Common	Buy Transaction	463	55.1451 USD
Common	Buy Transaction	1,914	55.1476 USD
Common	Buy Transaction	1,285	55.1477 USD
Common	Buy Transaction	1,596	55.1479 USD
Common	Buy Transaction	1,089	55.1485 USD
Common	Buy Transaction	333	55.1491 USD
Common	Buy Transaction	824	55.1500 USD
Common	Buy Transaction	790	55.1502 USD
Common	Buy Transaction	1,037	55.1512 USD
Common	Buy Transaction	395	55.1514 USD
Common	Buy Transaction	1,744	55.1538 USD
Common	Buy Transaction	69	55.1542 USD
Common	Buy Transaction	1,473	55.1542 USD
Common	Buy Transaction	190	55.1547 USD
Common	Buy Transaction	200	55.1550 USD
Common	Buy Transaction	326	55.1554 USD
Common	Buy Transaction	2,076	55.1567 USD
Common	Buy Transaction	396	55.1587 USD
Common	Buy Transaction	23	55.1591 USD
Common	Buy Transaction	95	55.1596 USD
Common	Buy Transaction	2,164	55.1597 USD
Common	Buy Transaction	182	55.1598 USD
Common	Buy Transaction	282	55.1599 USD
Common	Buy Transaction	949	55.1600 USD
Common	Buy Transaction	907	55.1607 USD
Common	Buy Transaction	387	55.1624 USD
Common	Buy Transaction	142	55.1628 USD
Common	Buy Transaction	444	55.1633 USD
Common	Buy Transaction	15	55.1640 USD
Common	Buy Transaction	243	55.1649 USD
Common	Buy Transaction	5,116	55.1651 USD
Common	Buy Transaction	34	55.1668 USD
Common	Buy Transaction	129	55.1696 USD
Common	Buy Transaction	883	55.1700 USD
Common	Buy Transaction	1,428	55.1703 USD
Common	Buy Transaction	10	55.1720 USD
Common	Buy Transaction	590	55.1740 USD
Common	Buy Transaction	284	55.1750 USD
Common	Buy Transaction	300	55.1750 USD
Common	Buy Transaction	4,266	55.1771 USD
Common	Buy Transaction	2,635	55.1799 USD
Common	Buy Transaction	215	55.1800 USD
Common	Buy Transaction	674	55.1810 USD
Common	Buy Transaction	310	55.1826 USD
Common	Buy Transaction	351	55.1853 USD
Common	Buy Transaction	9,957	55.1853 USD
Common	Buy Transaction	907	55.1875 USD
Common	Buy Transaction	2,108	55.1885 USD
Common	Buy Transaction	6	55.1900 USD
Common	Buy Transaction	353	55.1910 USD
Common	Buy Transaction	165	55.1918 USD
Common	Buy Transaction	1,443	55.1925 USD
Common	Buy Transaction	2,458	55.1925 USD
Common	Buy Transaction	7,287	55.1945 USD
Common	Buy Transaction	28	55.1950 USD
Common	Buy Transaction	326	55.1984 USD
Common	Buy Transaction	220	55.2000 USD
Common	Buy Transaction	123	55.2002 USD
Common	Buy Transaction	374	55.2024 USD
Common	Buy Transaction	24,912	55.2100 USD
Common	Buy Transaction	2,187	55.2138 USD
Common	Buy Transaction	23	55.2191 USD
Common	Buy Transaction	308	55.2200 USD
Common	Buy Transaction	10	55.2220 USD
Common	Buy Transaction	1,117	55.2267 USD
Common	Buy Transaction	200	55.2350 USD
Common	Buy Transaction	1,178	55.2361 USD
Common	Buy Transaction	162	55.2370 USD
Common	Buy Transaction	300	55.2400 USD
Common	Buy Transaction	202	55.2500 USD
Common	Buy Transaction	11	55.2518 USD
Common	Buy Transaction	28	55.2529 USD
Common	Buy Transaction	14	55.2607 USD
Common	Buy Transaction	518	55.2610 USD
Common	Buy Transaction	100	55.2700 USD
Common	Buy Transaction	124	55.2752 USD
Common	Buy Transaction	296	55.2763 USD
Common	Buy Transaction	201	55.2800 USD
Common	Buy Transaction	18	55.2800 USD
Common	Buy Transaction	1	55.2900 USD
Common	Buy Transaction	144	55.2951 USD
Common	Buy Transaction	57	55.3051 USD
Common	Buy Transaction	105	55.3180 USD
Common	Buy Transaction	251	55.3200 USD
Common	DVP Transaction	3	54.9667 USD
Common	DVP Transaction	4	55.0500 USD
Common	DVP Transaction	1,341	55.1000 USD
Common	DVP Transaction	19	55.1058 USD
Common	DVP Transaction	18	55.1100 USD
Common	DVP Transaction	18	55.1122 USD
Common	DVP Transaction	12	55.1150 USD
Common	DVP Transaction	23	55.1257 USD
Common	DVP Transaction	19	55.1332 USD
Common	DVP Transaction	7	55.1400 USD
Common	DVP Transaction	10	55.1500 USD
Common	DVP Transaction	42	55.1505 USD
Common	DVP Transaction	355	55.1528 USD
Common	DVP Transaction	83	55.1833 USD
Common	DVP Transaction	12,328	55.2100 USD
Common	DVP Transaction	1	55.2200 USD
Common	DVP Transaction	57	55.3050 USD
Common	RVP Transaction	4	55.0500 USD
Common	RVP Transaction	13	55.0777 USD
Common	RVP Transaction	769	55.1000 USD
Common	RVP Transaction	639	55.1021 USD
Common	RVP Transaction	23	55.1200 USD
Common	RVP Transaction	36	55.1300 USD
Common	RVP Transaction	130	55.1315 USD
Common	RVP Transaction	63	55.1457 USD
Common	RVP Transaction	10	55.1500 USD
Common	RVP Transaction	51	55.1559 USD
Common	RVP Transaction	106	55.1598 USD
Common	RVP Transaction	36	55.1900 USD
Common	RVP Transaction	9	55.1933 USD
Common	RVP Transaction	7	55.1986 USD
Common	RVP Transaction	172	55.2080 USD
Common	RVP Transaction	12,211	55.2100 USD
Common	RVP Transaction	4	55.2200 USD
Common	RVP Transaction	57	55.3050 USD
Common	Sell Transaction	1	54.9300 USD
Common	Sell Transaction	100	54.9700 USD
Common	Sell Transaction	10	55.0050 USD
Common	Sell Transaction	103	55.0100 USD
Common	Sell Transaction	1	55.0300 USD
Common	Sell Transaction	6	55.0400 USD
Common	Sell Transaction	207	55.0473 USD
Common	Sell Transaction	6	55.0483 USD
Common	Sell Transaction	7	55.0500 USD
Common	Sell Transaction	800	55.0700 USD
Common	Sell Transaction	100	55.0800 USD
Common	Sell Transaction	8	55.0850 USD
Common	Sell Transaction	329	55.0900 USD
Common	Sell Transaction	220	55.0909 USD
Common	Sell Transaction	123	55.0924 USD
Common	Sell Transaction	1,364	55.0951 USD
Common	Sell Transaction	348	55.0961 USD
Common	Sell Transaction	300	55.0967 USD
Common	Sell Transaction	454	55.1000 USD
Common	Sell Transaction	240	55.1056 USD
Common	Sell Transaction	2,027	55.1067 USD
Common	Sell Transaction	100	55.1077 USD
Common	Sell Transaction	52	55.1085 USD
Common	Sell Transaction	400	55.1100 USD
Common	Sell Transaction	848	55.1133 USD
Common	Sell Transaction	828	55.1135 USD
Common	Sell Transaction	345	55.1174 USD
Common	Sell Transaction	736	55.1200 USD
Common	Sell Transaction	201	55.1203 USD
Common	Sell Transaction	400	55.1236 USD
Common	Sell Transaction	41	55.1246 USD
Common	Sell Transaction	100	55.1255 USD
Common	Sell Transaction	552	55.1300 USD
Common	Sell Transaction	7,614	55.1342 USD
Common	Sell Transaction	100	55.1350 USD
Common	Sell Transaction	407	55.1353 USD
Common	Sell Transaction	61	55.1359 USD
Common	Sell Transaction	739	55.1360 USD
Common	Sell Transaction	605	55.1364 USD
Common	Sell Transaction	1,126	55.1379 USD
Common	Sell Transaction	1,933	55.1381 USD
Common	Sell Transaction	422	55.1386 USD
Common	Sell Transaction	858	55.1390 USD
Common	Sell Transaction	300	55.1390 USD
Common	Sell Transaction	14	55.1393 USD
Common	Sell Transaction	294	55.1400 USD
Common	Sell Transaction	101	55.1401 USD
Common	Sell Transaction	1	55.1404 USD
Common	Sell Transaction	304	55.1410 USD
Common	Sell Transaction	476	55.1421 USD
Common	Sell Transaction	482	55.1427 USD
Common	Sell Transaction	9,922	55.1444 USD
Common	Sell Transaction	100	55.1450 USD
Common	Sell Transaction	4,761	55.1451 USD
Common	Sell Transaction	100	55.1456 USD
Common	Sell Transaction	100	55.1460 USD
Common	Sell Transaction	100	55.1462 USD
Common	Sell Transaction	105	55.1468 USD
Common	Sell Transaction	267	55.1468 USD
Common	Sell Transaction	88	55.1479 USD
Common	Sell Transaction	200	55.1481 USD
Common	Sell Transaction	100	55.1482 USD
Common	Sell Transaction	200	55.1484 USD
Common	Sell Transaction	7,874	55.1493 USD
Common	Sell Transaction	277	55.1495 USD
Common	Sell Transaction	2,116	55.1497 USD
Common	Sell Transaction	398	55.1500 USD
Common	Sell Transaction	102	55.1511 USD
Common	Sell Transaction	200	55.1512 USD
Common	Sell Transaction	80	55.1516 USD
Common	Sell Transaction	100	55.1520 USD
Common	Sell Transaction	341	55.1522 USD
Common	Sell Transaction	200	55.1522 USD
Common	Sell Transaction	37	55.1524 USD
Common	Sell Transaction	891	55.1534 USD
Common	Sell Transaction	510	55.1538 USD
Common	Sell Transaction	827	55.1555 USD
Common	Sell Transaction	100	55.1565 USD
Common	Sell Transaction	100	55.1578 USD
Common	Sell Transaction	171	55.1588 USD
Common	Sell Transaction	100	55.1590 USD
Common	Sell Transaction	100	55.1591 USD
Common	Sell Transaction	200	55.1598 USD
Common	Sell Transaction	101	55.1600 USD
Common	Sell Transaction	185	55.1609 USD
Common	Sell Transaction	100	55.1611 USD
Common	Sell Transaction	100	55.1616 USD
Common	Sell Transaction	2,241	55.1622 USD
Common	Sell Transaction	697	55.1636 USD
Common	Sell Transaction	13	55.1650 USD
Common	Sell Transaction	142	55.1663 USD
Common	Sell Transaction	6,579	55.1663 USD
Common	Sell Transaction	1,410	55.1698 USD
Common	Sell Transaction	301	55.1700 USD
Common	Sell Transaction	3,713	55.1719 USD
Common	Sell Transaction	132	55.1722 USD
Common	Sell Transaction	300	55.1733 USD
Common	Sell Transaction	896	55.1741 USD
Common	Sell Transaction	550	55.1745 USD
Common	Sell Transaction	200	55.1750 USD
Common	Sell Transaction	100	55.1753 USD
Common	Sell Transaction	7	55.1757 USD
Common	Sell Transaction	9,313	55.1768 USD
Common	Sell Transaction	100	55.1769 USD
Common	Sell Transaction	533	55.1771 USD
Common	Sell Transaction	154	55.1775 USD
Common	Sell Transaction	100	55.1784 USD
Common	Sell Transaction	5,677	55.1796 USD
Common	Sell Transaction	517	55.1800 USD
Common	Sell Transaction	100	55.1805 USD
Common	Sell Transaction	1,064	55.1828 USD
Common	Sell Transaction	2,726	55.1853 USD
Common	Sell Transaction	175	55.1869 USD
Common	Sell Transaction	100	55.1883 USD
Common	Sell Transaction	2,806	55.1892 USD
Common	Sell Transaction	300	55.1900 USD
Common	Sell Transaction	449	55.1915 USD
Common	Sell Transaction	160	55.1935 USD
Common	Sell Transaction	10,200	55.1945 USD
Common	Sell Transaction	32	55.1947 USD
Common	Sell Transaction	2	55.1950 USD
Common	Sell Transaction	100	55.1954 USD
Common	Sell Transaction	952	55.1957 USD
Common	Sell Transaction	437	55.1961 USD
Common	Sell Transaction	100	55.1962 USD
Common	Sell Transaction	1,571	55.1997 USD
Common	Sell Transaction	443	55.1998 USD
Common	Sell Transaction	355	55.2000 USD
Common	Sell Transaction	176	55.2000 USD
Common	Sell Transaction	100	55.2016 USD
Common	Sell Transaction	104	55.2019 USD
Common	Sell Transaction	100	55.2020 USD
Common	Sell Transaction	1,224	55.2021 USD
Common	Sell Transaction	295	55.2037 USD
Common	Sell Transaction	1,597	55.2040 USD
Common	Sell Transaction	1,264	55.2046 USD
Common	Sell Transaction	561	55.2052 USD
Common	Sell Transaction	1,809	55.2057 USD
Common	Sell Transaction	27,293	55.2100 USD
Common	Sell Transaction	100	55.2129 USD
Common	Sell Transaction	100	55.2138 USD
Common	Sell Transaction	100	55.2147 USD
Common	Sell Transaction	89	55.2164 USD
Common	Sell Transaction	1	55.2168 USD
Common	Sell Transaction	360	55.2171 USD
Common	Sell Transaction	120	55.2183 USD
Common	Sell Transaction	105	55.2200 USD
Common	Sell Transaction	453	55.2216 USD
Common	Sell Transaction	1,295	55.2224 USD
Common	Sell Transaction	100	55.2235 USD
Common	Sell Transaction	75	55.2265 USD
Common	Sell Transaction	100	55.2277 USD
Common	Sell Transaction	103	55.2283 USD
Common	Sell Transaction	6	55.2283 USD
Common	Sell Transaction	922	55.2287 USD
Common	Sell Transaction	100	55.2294 USD
Common	Sell Transaction	93	55.2297 USD
Common	Sell Transaction	295	55.2300 USD
Common	Sell Transaction	2,219	55.2305 USD
Common	Sell Transaction	1,522	55.2329 USD
Common	Sell Transaction	100	55.2373 USD
Common	Sell Transaction	114	55.2381 USD
Common	Sell Transaction	20	55.2385 USD
Common	Sell Transaction	9	55.2389 USD
Common	Sell Transaction	21	55.2390 USD
Common	Sell Transaction	301	55.2391 USD
Common	Sell Transaction	12	55.2392 USD
Common	Sell Transaction	250	55.2393 USD
Common	Sell Transaction	671	55.2400 USD
Common	Sell Transaction	100	55.2418 USD
Common	Sell Transaction	104	55.2433 USD
Common	Sell Transaction	117	55.2480 USD
Common	Sell Transaction	3	55.2500 USD
Common	Sell Transaction	100	55.2516 USD
Common	Sell Transaction	1,181	55.2541 USD
Common	Sell Transaction	100	55.2570 USD
Common	Sell Transaction	142	55.2594 USD
Common	Sell Transaction	335	55.2600 USD
Common	Sell Transaction	215	55.2681 USD
Common	Sell Transaction	400	55.2700 USD
Common	Sell Transaction	100	55.2786 USD
Common	Sell Transaction	254	55.2789 USD
Common	Sell Transaction	50	55.2800 USD
Common	Sell Transaction	100	55.2869 USD
Common	Sell Transaction	1	55.2900 USD
Common	Sell Transaction	100	55.2924 USD
Common	Sell Transaction	220	55.3000 USD
Common	Sell Transaction	100	55.3091 USD
Common	Sell Transaction	1	55.3100 USD
Common	Sell Transaction	100	55.3187 USD
Common	Sell Transaction	1	55.3200 USD
Common	Sell Transaction	100	55.3219 USD

(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

(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	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit
Common	Call Option	Buy Transaction	3	57.0000 USD	American	2025-Jan-03	0.1500 USD
Common	Call Option	Buy Transaction	2	60.0000 USD	American	2025-Jan-17	0.1700 USD
Common	Put Option	Buy Transaction	1	52.0000 USD	American	2025-Jan-10	0.2000 USD
Common	Put Option	Buy Transaction	15	47.0000 USD	American	2025-Jan-31	0.2000 USD
Common	Call Option	Buy Transaction	1	57.0000 USD	American	2025-Jan-10	0.4200 USD
Common	Call Option	Buy Transaction	1	57.5000 USD	American	2025-Jan-17	0.5000 USD
Common	Call Option	Buy Transaction	3	60.0000 USD	American	2025-Feb-07	0.5700 USD
Common	Call Option	Buy Transaction	1	60.0000 USD	American	2025-Feb-21	0.7500 USD
Common	Call Option	Buy Transaction	1	60.0000 USD	American	2025-Feb-21	0.8500 USD
Common	Call Option	Buy Transaction	9	56.0000 USD	American	2025-Jan-17	0.9600 USD
Common	Call Option	Buy Transaction	2	55.0000 USD	American	2025-Jan-17	1.5000 USD
Common	Call Option	Buy Transaction	1	60.0000 USD	American	2025-Apr-17	1.6500 USD
Common	Call Option	Buy Transaction	1	54.0000 USD	American	2025-Jan-24	2.0000 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2025-Feb-21	2.6200 USD
Common	Put Option	Buy Transaction	1	50.0000 USD	American	2026-Jan-16	3.7000 USD
Common	Put Option	Buy Transaction	1	57.5000 USD	American	2025-Feb-21	3.7300 USD
Common	Call Option	Buy Transaction	40	50.0000 USD	American	2025-Sep-19	8.2000 USD
Common	Call Option	Sell Transaction	4	62.0000 USD	American	2025-Jan-10	0.1000 USD
Common	Put Option	Sell Transaction	1	52.0000 USD	American	2025-Jan-10	0.2000 USD
Common	Call Option	Sell Transaction	1	56.0000 USD	American	2025-Jan-03	0.4000 USD
Common	Call Option	Sell Transaction	1	62.5000 USD	American	2025-Feb-21	0.4500 USD
Common	Put Option	Sell Transaction	1	45.0000 USD	American	2025-Sep-19	1.5000 USD
Common	Put Option	Sell Transaction	1	47.5000 USD	American	2025-Sep-19	2.0500 USD
Common	Put Option	Sell Transaction	8	47.5000 USD	American	2026-Jan-16	3.0000 USD
Common	Call Option	Sell Transaction	1	52.5000 USD	American	2025-Jan-17	3.3100 USD
Common	Call Option	Sell Transaction	1	62.5000 USD	American	2026-Jan-16	3.7100 USD
Common	Put Option	Sell Transaction	1	55.0000 USD	American	2026-Jan-16	5.8000 USD
Common	Call Option	Sell Transaction	7	47.5000 USD	American	2025-Jan-17	7.9000 USD

(ii) Exercise

Class of relevant security

Product description

e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(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

Is a Supplemental Form 8 (Open Positions) attached?

YES

Date of disclosure:	27 December 2024
Contact name:	Paula Santos
Telephone number*:	020 7645 9700

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.

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

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:	Citadel Group
Name of offeror/offeree in relation to whose relevant securities the disclosure relates:	INTERNATIONAL PAPER CO

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	Call Option	Purchased	5,500	55.0 USD	American	21/02/2025
Common	Call Option	Purchased	2,400	40.0 USD	American	16/01/2026
Common	Call Option	Purchased	100	59.0 USD	American	31/01/2025
Common	Call Option	Purchased	100	62.5 USD	American	20/06/2025
Common	Call Option	Purchased	21,800	62.5 USD	American	21/02/2025
Common	Put Option	Purchased	-200	40.0 USD	American	20/06/2025
Common	Call Option	Purchased	100	57.5 USD	American	18/07/2025
Common	Call Option	Purchased	1,000	80.0 USD	American	16/01/2026
Common	Call Option	Purchased	0	56.0 USD	American	03/01/2025
Common	Put Option	Purchased	-700	54.0 USD	American	03/01/2025
Common	Put Option	Purchased	-100	27.5 USD	American	17/01/2025
Common	Put Option	Purchased	-1,600	42.5 USD	American	20/06/2025
Common	Call Option	Purchased	20,700	57.5 USD	American	19/09/2025
Common	Call Option	Purchased	2,000	61.0 USD	American	10/01/2025
Common	Call Option	Purchased	59,700	55.0 USD	American	17/04/2025
Common	Call Option	Purchased	100	62.0 USD	American	27/12/2024
Common	Call Option	Purchased	1,500	54.0 USD	American	27/12/2024
Common	Call Option	Purchased	300	55.0 USD	American	18/07/2025
Common	Call Option	Purchased	100	62.0 USD	American	10/01/2025
Common	Call Option	Purchased	3,000	51.0 USD	American	27/12/2024
Common	Put Option	Purchased	-100	32.5 USD	American	17/01/2025
Common	Put Option	Purchased	-31,600	50.0 USD	American	20/06/2025
Common	Call Option	Purchased	400	59.0 USD	American	27/12/2024
Common	Put Option	Purchased	-100	45.0 USD	American	21/02/2025
Common	Call Option	Purchased	300	47.5 USD	American	17/01/2025
Common	Call Option	Purchased	700	52.5 USD	American	16/01/2026
Common	Put Option	Purchased	-1,000	35.0 USD	American	17/10/2025
Common	Put Option	Purchased	-9,800	57.5 USD	American	17/01/2025
Common	Call Option	Purchased	5,100	67.5 USD	American	16/01/2026
Common	Put Option	Purchased	-2,800	20.0 USD	American	17/01/2025
Common	Call Option	Purchased	200	54.0 USD	American	10/01/2025
Common	Call Option	Purchased	600	32.5 USD	American	15/01/2027
Common	Put Option	Purchased	-100	35.0 USD	American	16/01/2026
Common	Call Option	Purchased	2,600	60.0 USD	American	20/06/2025
Common	Call Option	Purchased	100	62.0 USD	American	03/01/2025
Common	Put Option	Purchased	-42,300	55.0 USD	American	27/12/2024
Common	Put Option	Purchased	-500	37.5 USD	American	19/09/2025
Common	Put Option	Purchased	-500	20.0 USD	American	16/01/2026
Common	Call Option	Purchased	400	60.0 USD	American	17/01/2025
Common	Call Option	Purchased	800	40.0 USD	American	15/01/2027
Common	Put Option	Purchased	-2,400	53.0 USD	American	27/12/2024
Common	Put Option	Purchased	-700	42.5 USD	American	21/02/2025
Common	Put Option	Purchased	-5,000	51.0 USD	American	03/01/2025
Common	Put Option	Purchased	-500	37.5 USD	American	20/06/2025
Common	Put Option	Purchased	-2,500	45.0 USD	American	19/09/2025
Common	Put Option	Purchased	-200	42.5 USD	American	19/09/2025
Common	Call Option	Purchased	100	32.5 USD	American	17/01/2025
Common	Call Option	Purchased	7,200	62.5 USD	American	17/10/2025
Common	Call Option	Purchased	500	67.5 USD	American	17/01/2025
Common	Call Option	Purchased	201,000	45.0 USD	American	17/01/2025
Common	Put Option	Purchased	-100	37.5 USD	American	17/01/2025
Common	Call Option	Purchased	5,200	50.0 USD	American	19/09/2025
Common	Call Option	Purchased	2,500	65.0 USD	American	20/06/2025
Common	Call Option	Purchased	100	35.0 USD	American	15/01/2027
Common	Put Option	Purchased	-10,500	45.0 USD	American	17/10/2025
Common	Call Option	Purchased	6,000	55.0 USD	American	20/06/2025
Common	Put Option	Purchased	-200	50.0 USD	American	27/12/2024
Common	Call Option	Purchased	700	50.0 USD	American	16/01/2026
Common	Put Option	Purchased	-8,300	42.5 USD	American	17/01/2025
Common	Put Option	Purchased	-12,500	50.0 USD	American	16/01/2026
Common	Call Option	Purchased	30,900	55.0 USD	American	17/10/2025
Common	Call Option	Purchased	300	42.5 USD	American	20/06/2025
Common	Call Option	Purchased	68,800	50.0 USD	American	17/01/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	14/10/2025
Common	Call Option	Purchased	300	60.0 USD	American	07/02/2025
Common	Call Option	Purchased	3,000	60.0 USD	American	24/01/2025
Common	Call Option	Purchased	300	60.0 USD	American	03/01/2025
Common	Call Option	Purchased	1,500	57.5 USD	American	20/06/2025
Common	Call Option	Purchased	900	52.5 USD	American	15/01/2027
Common	Put Option	Purchased	-3,600	45.0 USD	American	20/06/2025
Common	Call Option	Purchased	6,700	35.0 USD	American	16/01/2026
Common	Call Option	Purchased	9,000	65.0 USD	American	17/04/2025
Common	Put Option	Purchased	-7,900	52.5 USD	American	19/09/2025
Common	Put Option	Purchased	-3,200	22.5 USD	American	17/01/2025
Common	Call Option	Purchased	900	58.0 USD	American	17/01/2025
Common	Call Option	Purchased	100	67.5 USD	American	17/04/2025
Common	Call Option	Purchased	1,900	50.0 USD	American	17/01/2025
Common	Put Option	Purchased	-1,500	47.0 USD	American	31/01/2025
Common	Call Option	Purchased	100	54.0 USD	American	03/01/2025
Common	Call Option	Purchased	1,000	54.0 USD	American	31/01/2025
Common	Call Option	Purchased	5,600	57.5 USD	American	21/02/2025
Common	Call Option	Purchased	20,400	27.5 USD	American	16/01/2026
Common	Put Option	Purchased	-200	25.0 USD	American	17/01/2025
Common	Put Option	Purchased	-200	57.0 USD	American	27/12/2024
Common	Call Option	Purchased	1,700	32.5 USD	American	16/01/2026
Common	Call Option	Purchased	500	53.0 USD	American	27/12/2024
Common	Put Option	Purchased	-28,000	58.0 USD	American	27/12/2024
Common	Put Option	Purchased	-700	40.0 USD	American	17/04/2025
Common	Call Option	Purchased	500	60.0 USD	American	10/01/2025
Common	Call Option	Purchased	28,900	52.5 USD	American	19/09/2025
Common	Put Option	Purchased	-100	52.5 USD	American	17/10/2025
Common	Call Option	Purchased	700	57.5 USD	American	17/10/2025
Common	Put Option	Purchased	-100	52.0 USD	American	31/01/2025
Common	Call Option	Purchased	100	35.0 USD	American	17/01/2025
Common	Put Option	Purchased	-20,600	56.0 USD	American	24/01/2025
Common	Call Option	Purchased	1,100	56.0 USD	American	17/01/2025
Common	Call Option	Purchased	11,400	55.0 USD	American	16/01/2026
Common	Call Option	Purchased	1,000	60.0 USD	American	18/07/2025
Common	Put Option	Purchased	-7,100	50.0 USD	American	16/01/2026
Common	Call Option	Purchased	2,500	55.0 USD	American	19/09/2025
Common	Put Option	Purchased	-4,900	55.0 USD	American	24/01/2025
Common	Put Option	Purchased	-400	42.5 USD	American	17/04/2025
Common	Call Option	Purchased	22,200	52.5 USD	American	17/10/2025
Common	Call Option	Purchased	13,600	55.0 USD	American	17/01/2025
Common	Call Option	Purchased	100	65.0 USD	American	18/07/2025
Common	Put Option	Purchased	-100	47.5 USD	American	17/10/2025
Common	Call Option	Purchased	800	59.0 USD	American	10/01/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	15/10/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	15/10/2025
Common	Put Option	Purchased	-50,000	52.5 USD	American	16/01/2026
Common	Call Option	Purchased	400	55.0 USD	American	15/01/2027
Common	Put Option	Purchased	-24,000	22.5 USD	American	17/01/2025
Common	Call Option	Purchased	1,900	57.0 USD	American	17/01/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	13/10/2025
Common	Put Option	Purchased	-100	50.0 USD	American	21/02/2025
Common	Put Option	Purchased	-8,500	40.0 USD	American	16/01/2026
Common	Put Option	Purchased	-3,400	50.0 USD	American	19/09/2025
Common	Call Option	Purchased	100	57.0 USD	American	03/01/2025
Common	Call Option	Purchased	200	70.0 USD	American	17/01/2025
Common	Put Option	Purchased	-6,500	27.5 USD	American	17/01/2025
Common	Put Option	Purchased	-100	50.0 USD	American	24/01/2025
Common	Call Option	Purchased	1,600	70.0 USD	American	17/04/2025
Common	Put Option	Purchased	-12,000	25.0 USD	American	17/01/2025
Common	Call Option	Purchased	3,600	70.0 USD	American	20/06/2025
Common	Call Option	Purchased	500	40.0 USD	American	17/04/2025
Common	Call Option	Purchased	21,600	62.5 USD	American	17/01/2025
Common	Call Option	Purchased	100	61.0 USD	American	24/01/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	14/10/2025
Common	Call Option	Purchased	200	30.0 USD	American	19/09/2025
Common	Put Option	Purchased	-4,100	55.0 USD	American	17/01/2025
Common	Call Option	Purchased	600	30.0 USD	American	15/01/2027
Common	Call Option	Purchased	300	67.5 USD	American	15/01/2027
Common	Put Option	Purchased	0	57.0 USD	American	24/01/2025
Common	Call Option	Purchased	5,200	60.0 USD	American	17/10/2025
Common	Call Option	Purchased	600	55.0 USD	American	03/01/2025
Common	Call Option	Purchased	5,900	37.5 USD	American	16/01/2026
Common	Call Option	Purchased	81,500	54.9 USD	European	13/10/2025
Common	Call Option	Purchased	38,500	42.5 USD	American	17/01/2025
Common	Put Option	Purchased	-5,400	17.5 USD	American	16/01/2026
Common	Call Option	Purchased	500	45.0 USD	American	17/04/2025
Common	Put Option	Purchased	-500	35.0 USD	American	18/07/2025
Common	Put Option	Purchased	-2,100	60.0 USD	American	17/01/2025
Common	Call Option	Purchased	13,200	57.5 USD	American	17/04/2025
Common	Put Option	Purchased	-1,200	15.0 USD	American	17/01/2025
Common	Call Option	Purchased	59,400	52.5 USD	American	17/01/2025
Common	Call Option	Purchased	500	58.0 USD	American	03/01/2025
Common	Call Option	Purchased	51,600	40.0 USD	American	17/01/2025
Common	Put Option	Purchased	-20,000	55.0 USD	American	16/01/2026
Common	Call Option	Purchased	300	70.0 USD	American	15/01/2027
Common	Call Option	Purchased	700	65.0 USD	American	19/09/2025
Common	Put Option	Purchased	-12,100	37.5 USD	American	17/01/2025
Common	Call Option	Purchased	100	56.0 USD	American	31/01/2025
Common	Put Option	Purchased	-4,500	45.0 USD	American	17/04/2025
Common	Put Option	Purchased	-4,000	32.5 USD	American	16/01/2026
Common	Put Option	Purchased	-1,200	52.0 USD	American	27/12/2024
Common	Call Option	Purchased	2,400	65.0 USD	American	17/01/2025
Common	Put Option	Purchased	-11,400	55.0 USD	American	16/01/2026
Common	Call Option	Purchased	300	58.0 USD	American	24/01/2025
Common	Call Option	Purchased	100	37.5 USD	American	20/06/2025
Common	Call Option	Purchased	15,200	50.0 USD	American	20/06/2025
Common	Call Option	Purchased	100	40.0 USD	American	20/06/2025
Common	Call Option	Purchased	13,300	60.0 USD	American	17/04/2025
Common	Call Option	Purchased	1,400	57.0 USD	American	10/01/2025
Common	Call Option	Purchased	2,100	52.5 USD	American	17/04/2025
Common	Call Option	Purchased	2,400	50.0 USD	American	15/01/2027
Common	Call Option	Purchased	100	54.0 USD	American	24/01/2025
Common	Call Option	Purchased	40,800	52.5 USD	American	20/06/2025
Common	Put Option	Purchased	0	47.5 USD	American	15/01/2027
Common	Call Option	Purchased	3,100	30.0 USD	American	16/01/2026
Common	Put Option	Purchased	-6,300	17.5 USD	American	17/01/2025
Common	Call Option	Sold	-2,000	42.5 USD	American	17/10/2025
Common	Put Option	Sold	6,100	60.0 USD	American	20/06/2025
Common	Call Option	Sold	-100	75.0 USD	American	20/06/2025
Common	Put Option	Sold	300	55.0 USD	American	18/07/2025
Common	Put Option	Sold	200	50.0 USD	American	17/04/2025
Common	Put Option	Sold	300	55.0 USD	American	19/09/2025
Common	Put Option	Sold	600	60.0 USD	American	17/04/2025
Common	Call Option	Sold	-200	59.0 USD	American	03/01/2025
Common	Put Option	Sold	65,800	30.0 USD	American	17/01/2025
Common	Put Option	Sold	6,800	55.0 USD	American	20/06/2025
Common	Put Option	Sold	16,200	32.5 USD	American	17/01/2025
Common	Call Option	Sold	-10,200	47.5 USD	American	17/04/2025
Common	Put Option	Sold	300	52.5 USD	American	20/06/2025
Common	Call Option	Sold	-3,700	55.0 USD	American	10/01/2025
Common	Call Option	Sold	-100	59.0 USD	American	24/01/2025
Common	Put Option	Sold	100	37.5 USD	American	17/04/2025
Common	Put Option	Sold	21,000	57.5 USD	American	17/04/2025
Common	Put Option	Sold	1,600	52.5 USD	American	21/02/2025
Common	Call Option	Sold	-200	56.0 USD	American	24/01/2025
Common	Put Option	Sold	1,900	52.5 USD	American	17/01/2025
Common	Put Option	Sold	45,000	47.5 USD	American	17/01/2025
Common	Call Option	Sold	-495,400	47.5 USD	American	17/01/2025
Common	Put Option	Sold	7,200	54.0 USD	American	27/12/2024
Common	Put Option	Sold	12,900	45.0 USD	American	16/01/2026
Common	Call Option	Sold	-700	60.0 USD	American	27/12/2024
Common	Call Option	Sold	-29,200	58.0 USD	American	10/01/2025
Common	Put Option	Sold	500	54.0 USD	American	10/01/2025
Common	Put Option	Sold	1,100	47.5 USD	American	16/01/2026
Common	Call Option	Sold	-5,500	56.0 USD	American	27/12/2024
Common	Put Option	Sold	1,200	57.0 USD	American	03/01/2025
Common	Call Option	Sold	-100	51.0 USD	American	24/01/2025
Common	Put Option	Sold	5,100	57.5 USD	American	16/01/2026
Common	Put Option	Sold	1,000	47.5 USD	American	20/06/2025
Common	Put Option	Sold	40,900	45.0 USD	American	17/01/2025
Common	Put Option	Sold	1,100	50.0 USD	American	17/10/2025
Common	Put Option	Sold	9,000	47.5 USD	American	17/04/2025
Common	Put Option	Sold	200	65.0 USD	American	20/06/2025
Common	Put Option	Sold	2,600	53.0 USD	American	03/01/2025
Common	Put Option	Sold	1,500	55.0 USD	American	21/02/2025
Common	Put Option	Sold	2,200	52.0 USD	American	03/01/2025
Common	Put Option	Sold	2,400	52.0 USD	American	10/01/2025
Common	Call Option	Sold	-5,000	37.5 USD	American	17/01/2025
Common	Put Option	Sold	400	57.5 USD	American	21/02/2025
Common	Call Option	Sold	-7,900	70.0 USD	American	16/01/2026
Common	Put Option	Sold	4,800	25.0 USD	American	16/01/2026
Common	Call Option	Sold	-600	50.0 USD	American	21/02/2025
Common	Put Option	Sold	100	60.0 USD	American	16/01/2026
Common	Call Option	Sold	-43,100	55.0 USD	American	17/01/2025
Common	Put Option	Sold	200	57.5 USD	American	18/07/2025
Common	Put Option	Sold	1,200	56.0 USD	American	27/12/2024
Common	Call Option	Sold	-400	37.5 USD	American	19/09/2025
Common	Put Option	Sold	400	55.0 USD	American	10/01/2025
Common	Put Option	Sold	500	35.0 USD	American	15/01/2027
Common	Call Option	Sold	-1,000	85.0 USD	American	16/01/2026
Common	Call Option	Sold	-200	20.0 USD	American	17/01/2025
Common	Call Option	Sold	-8,800	45.0 USD	American	20/06/2025
Common	Call Option	Sold	-4,200	42.5 USD	American	19/09/2025
Common	Call Option	Sold	-100	52.5 USD	American	21/02/2025
Common	Put Option	Sold	3,000	30.0 USD	American	16/01/2026
Common	Call Option	Sold	-200	30.0 USD	American	17/01/2025
Common	Call Option	Sold	-1,100	57.5 USD	American	16/01/2026
Common	Call Option	Sold	-5,800	57.0 USD	American	27/12/2024
Common	Put Option	Sold	4,200	37.5 USD	American	16/01/2026
Common	Put Option	Sold	100	57.5 USD	American	20/06/2025
Common	Call Option	Sold	-400	42.5 USD	American	17/04/2025
Common	Call Option	Sold	-200	56.0 USD	American	10/01/2025
Common	Call Option	Sold	-2,500	47.5 USD	American	19/09/2025
Common	Call Option	Sold	-200	65.0 USD	American	21/02/2025
Common	Put Option	Sold	1,000	47.5 USD	American	19/09/2025
Common	Call Option	Sold	-800	47.5 USD	American	20/06/2025
Common	Put Option	Sold	100	49.0 USD	American	24/01/2025
Common	Call Option	Sold	-600	58.0 USD	American	27/12/2024
Common	Put Option	Sold	100	62.5 USD	American	16/01/2026
Common	Put Option	Sold	3,000	62.5 USD	American	17/04/2025
Common	Put Option	Sold	200	59.0 USD	American	03/01/2025
Common	Call Option	Sold	-100	53.0 USD	American	10/01/2025
Common	Call Option	Sold	-113,400	60.0 USD	American	17/01/2025
Common	Put Option	Sold	3,000	62.5 USD	American	20/06/2025
Common	Call Option	Sold	-3,600	62.5 USD	American	16/01/2026
Common	Put Option	Sold	1,800	56.0 USD	American	03/01/2025
Common	Put Option	Sold	1,100	53.0 USD	American	10/01/2025
Common	Call Option	Sold	-1,900	47.5 USD	American	16/01/2026
Common	Call Option	Sold	-3,300	55.0 USD	American	27/12/2024
Common	Call Option	Sold	-2,200	45.0 USD	American	16/01/2026
Common	Put Option	Sold	17,000	50.0 USD	American	17/01/2025
Common	Call Option	Sold	-500	65.0 USD	American	16/01/2026
Common	Put Option	Sold	300	48.0 USD	American	24/01/2025
Common	Put Option	Sold	20,500	52.5 USD	American	17/04/2025
Common	Put Option	Sold	21,800	55.0 USD	American	17/04/2025
Common	Call Option	Sold	-1,600	65.0 USD	American	17/10/2025
Common	Put Option	Sold	154,400	40.0 USD	American	17/01/2025
Common	Call Option	Sold	-2,400	42.5 USD	American	16/01/2026
Common	Call Option	Sold	-9,800	62.5 USD	American	17/04/2025
Common	Put Option	Sold	100	51.0 USD	American	10/01/2025
Common	Call Option	Sold	-33,500	57.5 USD	American	17/01/2025
Common	Call Option	Sold	-100	45.0 USD	American	17/10/2025
Common	Put Option	Sold	100	27.5 USD	American	16/01/2026
Common	Call Option	Sold	-500	60.0 USD	American	21/02/2025
Common	Put Option	Sold	2,700	42.5 USD	American	16/01/2026
Common	Put Option	Sold	900	52.5 USD	American	16/01/2026
Common	Call Option	Sold	-10,400	50.0 USD	American	17/04/2025
Common	Call Option	Sold	-200	50.0 USD	American	17/10/2025
Common	Call Option	Sold	-6,700	60.0 USD	American	16/01/2026
Common	Put Option	Sold	29,100	35.0 USD	American	17/01/2025
Common	Put Option	Sold	1,400	55.0 USD	American	03/01/2025
Common	Call Option	Sold	-800	60.0 USD	American	19/09/2025

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

RETUBSURSWUUUAA

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