BNP Paribas

Major Shareholding Notification • Jan 17, 2025

National Storage Mechanism | Additional information

RNS Number : 8242T

BNP Paribas London

17 January 2025

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:	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	16/01/2025
(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 If YES, specify which: 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:	3,826,625	1.1017	-2,941,615	-0.8469
(2) Cash-settled derivatives:	946,575	0.2725	-5,406,619	-1.5567
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	2,016,300	0.5805	-2,463,000	-0.7091
TOTAL:	6,789,500	1.9548	-10,811,234	-3.1127

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	55.7500 USD
US4601461035	Purchase	1	55.7500 USD
US4601461035	Purchase	1	55.7500 USD
US4601461035	Purchase	1	55.7500 USD
US4601461035	Purchase	1	55.7500 USD
US4601461035	Purchase	1	55.7600 USD
US4601461035	Purchase	1	55.7700 USD
US4601461035	Purchase	4	55.7700 USD
US4601461035	Purchase	6	55.7600 USD
US4601461035	Purchase	11	56.2600 USD
US4601461035	Purchase	13	55.7600 USD
US4601461035	Purchase	14	55.7600 USD
US4601461035	Purchase	15	55.7700 USD
US4601461035	Purchase	16	55.7500 USD
US4601461035	Purchase	40	55.7450 USD
US4601461035	Purchase	40	55.7700 USD
US4601461035	Purchase	183	55.7333 USD
US4601461035	Purchase	930	56.2600 USD
US4601461035	Purchase	3,500	55.5539 USD
US4601461035	Sale	-3,000	55.7382 USD
US4601461035	Sale	-1,205	55.7000 USD
US4601461035	Sale	-1,000	55.7000 USD
US4601461035	Sale	-900	55.7000 USD
US4601461035	Sale	-900	55.7000 USD
US4601461035	Sale	-566	55.7000 USD
US4601461035	Sale	-500	55.7000 USD
US4601461035	Sale	-500	55.7000 USD
US4601461035	Sale	-482	56.2600 USD
US4601461035	Sale	-266	56.2600 USD
US4601461035	Sale	-250	55.7000 USD
US4601461035	Sale	-151	56.2600 USD
US4601461035	Sale	-126	56.2600 USD
US4601461035	Sale	-105	56.2600 USD
US4601461035	Sale	-100	55.4500 USD
US4601461035	Sale	-100	55.4800 USD
US4601461035	Sale	-100	55.4950 USD
US4601461035	Sale	-100	55.5000 USD
US4601461035	Sale	-100	55.5000 USD
US4601461035	Sale	-100	55.5100 USD
US4601461035	Sale	-100	55.5200 USD
US4601461035	Sale	-100	55.5400 USD
US4601461035	Sale	-100	55.5400 USD
US4601461035	Sale	-100	55.5400 USD
US4601461035	Sale	-100	55.5400 USD
US4601461035	Sale	-100	55.5450 USD
US4601461035	Sale	-100	55.5500 USD
US4601461035	Sale	-100	55.5500 USD
US4601461035	Sale	-100	55.5500 USD
US4601461035	Sale	-100	55.5550 USD
US4601461035	Sale	-100	55.5550 USD
US4601461035	Sale	-100	55.5800 USD
US4601461035	Sale	-100	55.5800 USD
US4601461035	Sale	-100	55.5900 USD
US4601461035	Sale	-100	55.6100 USD
US4601461035	Sale	-100	55.6100 USD
US4601461035	Sale	-100	55.6300 USD
US4601461035	Sale	-100	55.6300 USD
US4601461035	Sale	-100	55.6700 USD
US4601461035	Sale	-100	55.6750 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-100	55.7000 USD
US4601461035	Sale	-98	55.7000 USD
US4601461035	Sale	-98	55.7000 USD
US4601461035	Sale	-91	55.7000 USD
US4601461035	Sale	-88	55.7000 USD
US4601461035	Sale	-88	55.7000 USD
US4601461035	Sale	-80	56.2600 USD
US4601461035	Sale	-75	55.5400 USD
US4601461035	Sale	-74	55.4600 USD
US4601461035	Sale	-63	55.4700 USD
US4601461035	Sale	-61	55.6000 USD
US4601461035	Sale	-58	55.7000 USD
US4601461035	Sale	-56	55.5250 USD
US4601461035	Sale	-55	55.7000 USD
US4601461035	Sale	-50	55.7000 USD
US4601461035	Sale	-50	55.7000 USD
US4601461035	Sale	-50	55.7000 USD
US4601461035	Sale	-50	55.7000 USD
US4601461035	Sale	-50	55.7000 USD
US4601461035	Sale	-50	55.7000 USD
US4601461035	Sale	-44	55.5250 USD
US4601461035	Sale	-44	55.5800 USD
US4601461035	Sale	-44	55.5800 USD
US4601461035	Sale	-44	55.5850 USD
US4601461035	Sale	-44	55.6000 USD
US4601461035	Sale	-44	55.6250 USD
US4601461035	Sale	-44	55.6750 USD
US4601461035	Sale	-41	55.7000 USD
US4601461035	Sale	-38	55.7000 USD
US4601461035	Sale	-35	55.7000 USD
US4601461035	Sale	-35	55.7000 USD
US4601461035	Sale	-26	55.4600 USD
US4601461035	Sale	-25	55.5400 USD
US4601461035	Sale	-25	55.7000 USD
US4601461035	Sale	-25	55.7000 USD
US4601461035	Sale	-25	56.2600 USD
US4601461035	Sale	-20	55.7000 USD
US4601461035	Sale	-20	55.7000 USD
US4601461035	Sale	-20	55.7000 USD
US4601461035	Sale	-20	55.7000 USD
US4601461035	Sale	-16	55.7500 USD
US4601461035	Sale	-12	55.7000 USD
US4601461035	Sale	-12	55.7000 USD
US4601461035	Sale	-12	55.7000 USD
US4601461035	Sale	-5	55.7000 USD
US4601461035	Sale	-5	55.7000 USD
US4601461035	Sale	-4	55.7000 USD
US4601461035	Sale	-2	55.6250 USD
US4601461035	Sale	-2	55.6250 USD
US4601461035	Sale	-2	55.7000 USD
US4601461035	Sale	-2	55.7000 USD
US4601461035	Sale	-2	55.7500 USD
US4601461035	Sale	-2	55.7500 USD
US4601461035	Sale	-1	56.2600 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
US4601461035	Contract for Difference	Opening Long Position	105	56.2600
US4601461035	Contract for Difference	Closing Long Position	-930	56.2600 USD
US4601461035	Contract for Difference	Increasing Long Position	3,000	56.2600
US4601461035	Contract for Difference	Increasing Short Position	-3,500	56.2600 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)        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:	17/01/2025
###### 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	56.26	american	17/01/2025
common stock (US4601461035)	Put Option	W	333400	56.26	european	14/10/2025
common stock (US4601461035)	Call Option	W	-89300	56.26	american	20/06/2025
common stock (US4601461035)	Call Option	W	-88200	56.26	american	19/09/2025
common stock (US4601461035)	Call Option	W	-83700	56.26	american	20/06/2025
common stock (US4601461035)	Call Option	W	-76800	56.26	american	17/04/2025
common stock (US4601461035)	Call Option	W	-63400	56.26	american	20/06/2025
common stock (US4601461035)	Call Option	W	-50000	56.26	american	17/04/2025
common stock (US4601461035)	Call Option	W	-50000	56.26	american	19/09/2025
common stock (US4601461035)	Call Option	W	-49700	56.26	american	17/10/2025
common stock (US4601461035)	Call Option	W	-45000	56.26	american	17/01/2025
common stock (US4601461035)	Call Option	W	-25000	56.26	american	17/10/2025
common stock (US4601461035)	Call Option	W	-8800	56.26	american	20/06/2025
common stock (US4601461035)	Call Option	W	-4900	56.26	american	19/09/2025
common stock (US4601461035)	Call Option	W	-1200	56.26	american	16/01/2026
common stock (US4601461035)	Put Option	W	2600	56.26	american	17/04/2025
common stock (US4601461035)	Put Option	W	10300	56.26	american	20/06/2025
common stock (US4601461035)	Put Option	W	24500	56.26	american	19/09/2025
common stock (US4601461035)	Put Option	W	26900	56.26	american	17/10/2025
common stock (US4601461035)	Put Option	W	30000	56.26	american	17/04/2025
common stock (US4601461035)	Put Option	W	50000	56.26	american	17/01/2025
common stock (US4601461035)	Put Option	W	50000	56.26	american	20/06/2025
common stock (US4601461035)	Put Option	W	52900	56.26	american	17/01/2025
common stock (US4601461035)	Put Option	W	75000	56.26	american	17/04/2025
common stock (US4601461035)	Put Option	W	85400	56.26	american	19/09/2025
common stock (US4601461035)	Put Option	W	128800	56.26	american	20/06/2025
common stock (US4601461035)	Put Option	W	200000	56.26	american	16/01/2026
common stock (US4601461035)	Put Option	W	255000	56.26	american	16/01/2026
common stock (US4601461035)	Call Option	W	-543500	56.26	european	14/10/2025
common stock (US4601461035)	Call Option	W	-543300	56.26	european	13/10/2025
common stock (US4601461035)	Call Option	W	-543300	56.26	european	15/10/2025
common stock (US4601461035)	Put Option	W	333300	56.26	european	13/10/2025
common stock (US4601461035)	Put Option	W	333300	56.26	european	15/10/2025
common stock (US4601461035)	Call Option	W	-151900	56.26	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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END

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