BNP Paribas

Transaction in Own Shares • Dec 31, 2024

National Storage Mechanism | Additional information

RNS Number : 7891R

BNP Paribas London

31 December 2024

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:	BNP Paribas SA
(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	30/12/2024
(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:	US4601461035 (common stock)

	Interests	Short Positions

	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	3,859,882	1.11	-2,843,309	-.82
(2) Cash-settled derivatives:	944,096	.27	-5,400,019	-1.55
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,958,700	.56	-2,443,200	-.70
TOTAL:	6,762,678	1.95	-10,686,528	-3.08

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
US4601461035	Purchase	1	53.5500 USD
US4601461035	Purchase	1	53.5787 USD
US4601461035	Purchase	1	53.5817 USD
US4601461035	Purchase	1	53.5897 USD
US4601461035	Purchase	1	53.5904 USD
US4601461035	Purchase	1	53.6120 USD
US4601461035	Purchase	1	53.6140 USD
US4601461035	Purchase	1	53.6233 USD
US4601461035	Purchase	1	53.6278 USD
US4601461035	Purchase	1	53.6311 USD
US4601461035	Purchase	1	53.6386 USD
US4601461035	Purchase	1	53.6400 USD
US4601461035	Purchase	1	53.6500 USD
US4601461035	Purchase	1	53.6500 USD
US4601461035	Purchase	1	53.6500 USD
US4601461035	Purchase	1	53.6600 USD
US4601461035	Purchase	1	53.6600 USD
US4601461035	Purchase	1	53.6618 USD
US4601461035	Purchase	1	53.6662 USD
US4601461035	Purchase	1	53.6780 USD
US4601461035	Purchase	1	53.6800 USD
US4601461035	Purchase	1	53.6800 USD
US4601461035	Purchase	1	53.6886 USD
US4601461035	Purchase	1	53.6958 USD
US4601461035	Purchase	1	53.6990 USD
US4601461035	Purchase	1	53.7030 USD
US4601461035	Purchase	1	53.7062 USD
US4601461035	Purchase	1	53.7208 USD
US4601461035	Purchase	1	53.7576 USD
US4601461035	Purchase	2	53.6100 USD
US4601461035	Purchase	2	53.6249 USD
US4601461035	Purchase	2	53.6339 USD
US4601461035	Purchase	2	53.6500 USD
US4601461035	Purchase	2	53.7934 USD
US4601461035	Purchase	3	53.5500 USD
US4601461035	Purchase	3	53.5976 USD
US4601461035	Purchase	3	53.7900 USD
US4601461035	Purchase	4	53.5900 USD
US4601461035	Purchase	4	53.6300 USD
US4601461035	Purchase	4	53.6500 USD
US4601461035	Purchase	5	53.6600 USD
US4601461035	Purchase	5	53.7800 USD
US4601461035	Purchase	5	53.7900 USD
US4601461035	Purchase	5	53.7900 USD
US4601461035	Purchase	5	53.7900 USD
US4601461035	Purchase	5	53.7900 USD
US4601461035	Purchase	5	53.7900 USD
US4601461035	Purchase	5	53.7900 USD
US4601461035	Purchase	6	53.6400 USD
US4601461035	Purchase	6	53.6400 USD
US4601461035	Purchase	6	53.6500 USD
US4601461035	Purchase	7	53.6600 USD
US4601461035	Purchase	8	53.6500 USD
US4601461035	Purchase	8	53.6600 USD
US4601461035	Purchase	8	53.6900 USD
US4601461035	Purchase	9	53.6600 USD
US4601461035	Purchase	9	53.6700 USD
US4601461035	Purchase	10	53.7700 USD
US4601461035	Purchase	10	53.7900 USD
US4601461035	Purchase	11	53.6000 USD
US4601461035	Purchase	11	53.6000 USD
US4601461035	Purchase	11	53.6400 USD
US4601461035	Purchase	12	53.7700 USD
US4601461035	Purchase	12	53.7900 USD
US4601461035	Purchase	13	53.6400 USD
US4601461035	Purchase	13	53.7800 USD
US4601461035	Purchase	13	53.7900 USD
US4601461035	Purchase	15	53.5500 USD
US4601461035	Purchase	17	53.7700 USD
US4601461035	Purchase	18	53.5500 USD
US4601461035	Purchase	19	53.6500 USD
US4601461035	Purchase	19	53.7300 USD
US4601461035	Purchase	20	53.6500 USD
US4601461035	Purchase	22	53.6600 USD
US4601461035	Purchase	23	53.6500 USD
US4601461035	Purchase	28	53.6500 USD
US4601461035	Purchase	31	53.7100 USD
US4601461035	Purchase	32	53.7900 USD
US4601461035	Purchase	37	53.6900 USD
US4601461035	Purchase	40	53.6000 USD
US4601461035	Purchase	40	53.6000 USD
US4601461035	Purchase	40	53.6000 USD
US4601461035	Purchase	40	53.6000 USD
US4601461035	Purchase	40	53.6000 USD
US4601461035	Purchase	44	53.6000 USD
US4601461035	Purchase	46	53.6900 USD
US4601461035	Purchase	47	53.6600 USD
US4601461035	Purchase	54	53.6500 USD
US4601461035	Purchase	55	53.6900 USD
US4601461035	Purchase	56	53.6500 USD
US4601461035	Purchase	61	53.8000 USD
US4601461035	Purchase	69	53.7100 USD
US4601461035	Purchase	71	53.6500 USD
US4601461035	Purchase	76	53.6400 USD
US4601461035	Purchase	81	53.7300 USD
US4601461035	Purchase	82	53.5500 USD
US4601461035	Purchase	82	53.7800 USD
US4601461035	Purchase	84	53.5500 USD
US4601461035	Purchase	87	53.6400 USD
US4601461035	Purchase	89	53.6000 USD
US4601461035	Purchase	91	53.6150 USD
US4601461035	Purchase	91	53.6700 USD
US4601461035	Purchase	94	53.5787 USD
US4601461035	Purchase	96	53.5900 USD
US4601461035	Purchase	96	53.5900 USD
US4601461035	Purchase	96	53.6300 USD
US4601461035	Purchase	97	53.5500 USD
US4601461035	Purchase	98	53.6100 USD
US4601461035	Purchase	98	53.6500 USD
US4601461035	Purchase	99	53.6800 USD
US4601461035	Purchase	99	53.6800 USD
US4601461035	Purchase	100	53.5200 USD
US4601461035	Purchase	100	53.5200 USD
US4601461035	Purchase	100	53.5300 USD
US4601461035	Purchase	100	53.5300 USD
US4601461035	Purchase	100	53.5500 USD
US4601461035	Purchase	100	53.5500 USD
US4601461035	Purchase	100	53.5600 USD
US4601461035	Purchase	100	53.5700 USD
US4601461035	Purchase	100	53.5700 USD
US4601461035	Purchase	100	53.5700 USD
US4601461035	Purchase	100	53.5700 USD
US4601461035	Purchase	100	53.5700 USD
US4601461035	Purchase	100	53.5700 USD
US4601461035	Purchase	100	53.5700 USD
US4601461035	Purchase	100	53.5800 USD
US4601461035	Purchase	100	53.5850 USD
US4601461035	Purchase	100	53.5852 USD
US4601461035	Purchase	100	53.5900 USD
US4601461035	Purchase	100	53.5900 USD
US4601461035	Purchase	100	53.6000 USD
US4601461035	Purchase	100	53.6000 USD
US4601461035	Purchase	100	53.6000 USD
US4601461035	Purchase	100	53.6000 USD
US4601461035	Purchase	100	53.6000 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6100 USD
US4601461035	Purchase	100	53.6140 USD
US4601461035	Purchase	100	53.6200 USD
US4601461035	Purchase	100	53.6200 USD
US4601461035	Purchase	100	53.6200 USD
US4601461035	Purchase	100	53.6200 USD
US4601461035	Purchase	100	53.6269 USD
US4601461035	Purchase	100	53.6300 USD
US4601461035	Purchase	100	53.6300 USD
US4601461035	Purchase	100	53.6300 USD
US4601461035	Purchase	100	53.6300 USD
US4601461035	Purchase	100	53.6300 USD
US4601461035	Purchase	100	53.6300 USD
US4601461035	Purchase	100	53.6300 USD
US4601461035	Purchase	100	53.6300 USD
US4601461035	Purchase	100	53.6311 USD
US4601461035	Purchase	100	53.6356 USD
US4601461035	Purchase	100	53.6400 USD
US4601461035	Purchase	100	53.6400 USD
US4601461035	Purchase	100	53.6400 USD
US4601461035	Purchase	100	53.6400 USD
US4601461035	Purchase	100	53.6400 USD
US4601461035	Purchase	100	53.6400 USD
US4601461035	Purchase	100	53.6400 USD
US4601461035	Purchase	100	53.6400 USD
US4601461035	Purchase	100	53.6500 USD
US4601461035	Purchase	100	53.6500 USD
US4601461035	Purchase	100	53.6500 USD
US4601461035	Purchase	100	53.6500 USD
US4601461035	Purchase	100	53.6500 USD
US4601461035	Purchase	100	53.6600 USD
US4601461035	Purchase	100	53.6600 USD
US4601461035	Purchase	100	53.6600 USD
US4601461035	Purchase	100	53.6600 USD
US4601461035	Purchase	100	53.6600 USD
US4601461035	Purchase	100	53.6600 USD
US4601461035	Purchase	100	53.6600 USD
US4601461035	Purchase	100	53.6700 USD
US4601461035	Purchase	100	53.6700 USD
US4601461035	Purchase	100	53.6700 USD
US4601461035	Purchase	100	53.6800 USD
US4601461035	Purchase	100	53.6800 USD
US4601461035	Purchase	100	53.6900 USD
US4601461035	Purchase	100	53.6900 USD
US4601461035	Purchase	100	53.6900 USD
US4601461035	Purchase	100	53.6950 USD
US4601461035	Purchase	100	53.6951 USD
US4601461035	Purchase	100	53.7000 USD
US4601461035	Purchase	100	53.7000 USD
US4601461035	Purchase	100	53.7000 USD
US4601461035	Purchase	100	53.7000 USD
US4601461035	Purchase	100	53.7000 USD
US4601461035	Purchase	100	53.7000 USD
US4601461035	Purchase	100	53.7000 USD
US4601461035	Purchase	100	53.7062 USD
US4601461035	Purchase	100	53.7100 USD
US4601461035	Purchase	100	53.7100 USD
US4601461035	Purchase	100	53.7100 USD
US4601461035	Purchase	100	53.7100 USD
US4601461035	Purchase	100	53.7100 USD
US4601461035	Purchase	100	53.7200 USD
US4601461035	Purchase	100	53.7200 USD
US4601461035	Purchase	100	53.7200 USD
US4601461035	Purchase	100	53.7200 USD
US4601461035	Purchase	100	53.7300 USD
US4601461035	Purchase	100	53.7376 USD
US4601461035	Purchase	100	53.7400 USD
US4601461035	Purchase	100	53.7400 USD
US4601461035	Purchase	100	53.7400 USD
US4601461035	Purchase	200	53.5700 USD
US4601461035	Purchase	200	53.5700 USD
US4601461035	Purchase	200	53.5700 USD
US4601461035	Purchase	200	53.6300 USD
US4601461035	Purchase	200	53.6300 USD
US4601461035	Purchase	300	53.6100 USD
US4601461035	Purchase	300	53.6100 USD
US4601461035	Purchase	400	53.6300 USD
US4601461035	Purchase	674	53.6500 USD
US4601461035	Purchase	741	53.6500 USD
US4601461035	Purchase	786	53.6500 USD
US4601461035	Purchase	807	53.6500 USD
US4601461035	Purchase	818	53.6500 USD
US4601461035	Purchase	903	53.6500 USD
US4601461035	Purchase	2,295	53.6500 USD
US4601461035	Purchase	2,887	53.6500 USD
US4601461035	Purchase	3,806	53.6500 USD
US4601461035	Purchase	6,353	53.6500 USD
US4601461035	Purchase	271,510	53.6500 USD
US4601461035	Sale	-674	53.6500 USD
US4601461035	Sale	-195	54.0800 USD
US4601461035	Sale	-100	53.5700 USD
US4601461035	Sale	-100	53.5800 USD
US4601461035	Sale	-100	53.5852 USD
US4601461035	Sale	-100	53.5900 USD
US4601461035	Sale	-100	53.5900 USD
US4601461035	Sale	-100	53.6140 USD
US4601461035	Sale	-100	53.6269 USD
US4601461035	Sale	-100	53.6311 USD
US4601461035	Sale	-100	53.6356 USD
US4601461035	Sale	-100	53.6500 USD
US4601461035	Sale	-100	53.6700 USD
US4601461035	Sale	-100	53.6951 USD
US4601461035	Sale	-100	53.7062 USD
US4601461035	Sale	-100	53.7376 USD
US4601461035	Sale	-100	53.7400 USD
US4601461035	Sale	-100	53.7500 USD
US4601461035	Sale	-100	53.8100 USD
US4601461035	Sale	-100	53.8300 USD
US4601461035	Sale	-94	53.5787 USD
US4601461035	Sale	-87	53.5800 USD
US4601461035	Sale	-83	53.6300 USD
US4601461035	Sale	-83	53.7400 USD
US4601461035	Sale	-73	54.1500 USD
US4601461035	Sale	-64	53.7200 USD
US4601461035	Sale	-61	53.5700 USD
US4601461035	Sale	-58	53.8300 USD
US4601461035	Sale	-51	53.7800 USD
US4601461035	Sale	-50	53.6600 USD
US4601461035	Sale	-50	53.6600 USD
US4601461035	Sale	-50	53.7900 USD
US4601461035	Sale	-50	53.7900 USD
US4601461035	Sale	-49	53.7800 USD
US4601461035	Sale	-42	53.8300 USD
US4601461035	Sale	-39	53.5700 USD
US4601461035	Sale	-36	53.7200 USD
US4601461035	Sale	-26	54.1500 USD
US4601461035	Sale	-23	53.7187 USD
US4601461035	Sale	-20	53.6500 USD
US4601461035	Sale	-17	53.6300 USD
US4601461035	Sale	-17	53.7400 USD
US4601461035	Sale	-13	53.5800 USD
US4601461035	Sale	-5	53.5900 USD
US4601461035	Sale	-4	53.6500 USD
US4601461035	Sale	-2	54.0800 USD
US4601461035	Sale	-1	53.5300 USD
US4601461035	Sale	-1	53.6500 USD
US4601461035	Sale	-1	53.6500 USD
US4601461035	Sale	-1	54.1500 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 references securities	Price per unit
US4601461035	Contract for Difference	Increasing Long Position	100	53.6500
US4601461035	Contract for Difference	Reducing Long Position	-818	53.6500 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	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

(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)	Indemnity and other dealing arrangements

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:	31/12/2024
Contact Name	Compliance Control Room
Telephone Number:	0207 595 9695

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

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:	BNP Paribas SA
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 (US4601461035)	Call Option	P	24900	53.65	american	17/01/2025
common stock (US4601461035)	Unknown	W	333400	53.65	european	14/10/2025
common stock (US4601461035)	Call Option	W	-89300	53.65	american	20/06/2025
common stock (US4601461035)	Call Option	W	-88200	53.65	american	19/09/2025
common stock (US4601461035)	Call Option	W	-83700	53.65	american	20/06/2025
common stock (US4601461035)	Call Option	W	-63400	53.65	american	20/06/2025
common stock (US4601461035)	Call Option	W	-58200	53.65	american	17/04/2025
common stock (US4601461035)	Call Option	W	-50000	53.65	american	17/04/2025
common stock (US4601461035)	Call Option	W	-50000	53.65	american	19/09/2025
common stock (US4601461035)	Call Option	W	-49700	53.65	american	17/10/2025
common stock (US4601461035)	Call Option	W	-45000	53.65	american	17/01/2025
common stock (US4601461035)	Call Option	W	-25000	53.65	american	17/10/2025
common stock (US4601461035)	Call Option	W	-8800	53.65	american	20/06/2025
common stock (US4601461035)	Call Option	W	-4900	53.65	american	19/09/2025
common stock (US4601461035)	Put Option	W	10300	53.65	american	20/06/2025
common stock (US4601461035)	Put Option	W	24500	53.65	american	19/09/2025
common stock (US4601461035)	Put Option	W	26900	53.65	american	17/10/2025
common stock (US4601461035)	Put Option	W	30000	53.65	american	17/04/2025
common stock (US4601461035)	Put Option	W	50000	53.65	american	17/01/2025
common stock (US4601461035)	Put Option	W	50000	53.65	american	20/06/2025
common stock (US4601461035)	Put Option	W	52900	53.65	american	17/01/2025
common stock (US4601461035)	Put Option	W	75000	53.65	american	17/04/2025
common stock (US4601461035)	Put Option	W	85400	53.65	american	19/09/2025
common stock (US4601461035)	Put Option	W	128800	53.65	american	20/06/2025
common stock (US4601461035)	Put Option	W	200000	53.65	american	16/01/2026
common stock (US4601461035)	Unknown	W	-543500	53.65	european	14/10/2025
common stock (US4601461035)	Unknown	W	-543300	53.65	european	13/10/2025
common stock (US4601461035)	Unknown	W	-543300	53.65	european	15/10/2025
common stock (US4601461035)	Unknown	W	333300	53.65	european	13/10/2025
common stock (US4601461035)	Unknown	W	333300	53.65	european	15/10/2025
common stock (US4601461035)	Call Option	W	-151900	53.65	american	17/01/2025

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

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