Form 8.3 - International Paper Company

Citadel Group

29 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:	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	28 January 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 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:	0	0.00	3,264,497	0.93
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,072,900	0.30	667,900	0.19
TOTAL:	1,072,900	0.30	3,932,397	1.13

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	20	58.2000 USD
Common	Buy Transaction	261	58.2669 USD
Common	Buy Transaction	8	58.2744 USD
Common	Buy Transaction	14	58.3057 USD
Common	Buy Transaction	16	58.3125 USD
Common	Buy Transaction	6	58.3200 USD
Common	Buy Transaction	89	58.3249 USD
Common	Buy Transaction	16	58.3300 USD
Common	Buy Transaction	5	58.3350 USD
Common	Buy Transaction	1	58.3400 USD
Common	Buy Transaction	83	58.3406 USD
Common	Buy Transaction	6	58.3525 USD
Common	Buy Transaction	23	58.3609 USD
Common	Buy Transaction	42	58.3700 USD
Common	Buy Transaction	400	58.3800 USD
Common	Buy Transaction	2	58.3900 USD
Common	Buy Transaction	15	58.4000 USD
Common	Buy Transaction	2	58.4100 USD
Common	Buy Transaction	19	58.4189 USD
Common	Buy Transaction	15	58.4200 USD
Common	Buy Transaction	216	58.4204 USD
Common	Buy Transaction	18	58.4217 USD
Common	Buy Transaction	42	58.4293 USD
Common	Buy Transaction	43	58.4300 USD
Common	Buy Transaction	6	58.4333 USD
Common	Buy Transaction	600	58.4417 USD
Common	Buy Transaction	400	58.4450 USD
Common	Buy Transaction	526	58.4498 USD
Common	Buy Transaction	367	58.4500 USD
Common	Buy Transaction	116	58.4553 USD
Common	Buy Transaction	9,660	58.4562 USD
Common	Buy Transaction	206	58.4600 USD
Common	Buy Transaction	183	58.4657 USD
Common	Buy Transaction	1,870	58.4696 USD
Common	Buy Transaction	6	58.4800 USD
Common	Buy Transaction	2,742	58.4883 USD
Common	Buy Transaction	442	58.4900 USD
Common	Buy Transaction	223	58.5057 USD
Common	Buy Transaction	30	58.5067 USD
Common	Buy Transaction	70	58.5104 USD
Common	Buy Transaction	53	58.5108 USD
Common	Buy Transaction	611	58.5153 USD
Common	Buy Transaction	65	58.5175 USD
Common	Buy Transaction	20	58.5300 USD
Common	Buy Transaction	244	58.5349 USD
Common	Buy Transaction	99	58.5362 USD
Common	Buy Transaction	55	58.5365 USD
Common	Buy Transaction	49	58.5384 USD
Common	Buy Transaction	34	58.5403 USD
Common	Buy Transaction	376	58.5415 USD
Common	Buy Transaction	930	58.5419 USD
Common	Buy Transaction	80	58.5463 USD
Common	Buy Transaction	9	58.5578 USD
Common	Buy Transaction	1,179	58.5587 USD
Common	Buy Transaction	413	58.5641 USD
Common	Buy Transaction	14	58.5664 USD
Common	Buy Transaction	110	58.5700 USD
Common	Buy Transaction	76	58.5712 USD
Common	Buy Transaction	103	58.5800 USD
Common	Buy Transaction	900	58.5825 USD
Common	Buy Transaction	1,850	58.5831 USD
Common	Buy Transaction	101	58.5833 USD
Common	Buy Transaction	20	58.5845 USD
Common	Buy Transaction	10	58.5900 USD
Common	Buy Transaction	103	58.5903 USD
Common	Buy Transaction	137	58.6004 USD
Common	Buy Transaction	2,040	58.6024 USD
Common	Buy Transaction	309	58.6027 USD
Common	Buy Transaction	2,011	58.6059 USD
Common	Buy Transaction	342	58.6065 USD
Common	Buy Transaction	3,485	58.6088 USD
Common	Buy Transaction	69	58.6096 USD
Common	Buy Transaction	48	58.6112 USD
Common	Buy Transaction	5	58.6140 USD
Common	Buy Transaction	98	58.6146 USD
Common	Buy Transaction	181	58.6146 USD
Common	Buy Transaction	311	58.6211 USD
Common	Buy Transaction	1,142	58.6217 USD
Common	Buy Transaction	872	58.6220 USD
Common	Buy Transaction	40	58.6298 USD
Common	Buy Transaction	4,121	58.6310 USD
Common	Buy Transaction	200	58.6350 USD
Common	Buy Transaction	721	58.6362 USD
Common	Buy Transaction	967	58.6364 USD
Common	Buy Transaction	16,986	58.6370 USD
Common	Buy Transaction	3,433	58.6373 USD
Common	Buy Transaction	13,262	58.6437 USD
Common	Buy Transaction	380	58.6464 USD
Common	Buy Transaction	724	58.6506 USD
Common	Buy Transaction	1,338	58.6541 USD
Common	Buy Transaction	51	58.6551 USD
Common	Buy Transaction	1,047	58.6561 USD
Common	Buy Transaction	7,592	58.6593 USD
Common	Buy Transaction	2	58.6700 USD
Common	Buy Transaction	230	58.6710 USD
Common	Buy Transaction	1,587	58.6717 USD
Common	Buy Transaction	1,179	58.6729 USD
Common	Buy Transaction	5,231	58.6731 USD
Common	Buy Transaction	8,687	58.6755 USD
Common	Buy Transaction	1,584	58.6757 USD
Common	Buy Transaction	2,285	58.6777 USD
Common	Buy Transaction	4,489	58.6809 USD
Common	Buy Transaction	1,936	58.6861 USD
Common	Buy Transaction	1,454	58.6901 USD
Common	Buy Transaction	255	58.6910 USD
Common	Buy Transaction	3,053	58.6911 USD
Common	Buy Transaction	1,141	58.6949 USD
Common	Buy Transaction	1,838	58.6952 USD
Common	Buy Transaction	538	58.6995 USD
Common	Buy Transaction	400	58.7001 USD
Common	Buy Transaction	453	58.7017 USD
Common	Buy Transaction	3,307	58.7019 USD
Common	Buy Transaction	2,428	58.7058 USD
Common	Buy Transaction	455	58.7096 USD
Common	Buy Transaction	162	58.7142 USD
Common	Buy Transaction	1,204	58.7143 USD
Common	Buy Transaction	1,131	58.7153 USD
Common	Buy Transaction	12,520	58.7165 USD
Common	Buy Transaction	232	58.7170 USD
Common	Buy Transaction	600	58.7188 USD
Common	Buy Transaction	739	58.7209 USD
Common	Buy Transaction	628	58.7296 USD
Common	Buy Transaction	1,607	58.7309 USD
Common	Buy Transaction	2,064	58.7322 USD
Common	Buy Transaction	172	58.7322 USD
Common	Buy Transaction	586	58.7330 USD
Common	Buy Transaction	1,422	58.7339 USD
Common	Buy Transaction	119	58.7345 USD
Common	Buy Transaction	236	58.7347 USD
Common	Buy Transaction	237	58.7361 USD
Common	Buy Transaction	81	58.7364 USD
Common	Buy Transaction	310	58.7377 USD
Common	Buy Transaction	662	58.7408 USD
Common	Buy Transaction	1,195	58.7445 USD
Common	Buy Transaction	7,100	58.7511 USD
Common	Buy Transaction	1,055	58.7575 USD
Common	Buy Transaction	4,087	58.7583 USD
Common	Buy Transaction	16	58.7594 USD
Common	Buy Transaction	85	58.7600 USD
Common	Buy Transaction	64	58.7605 USD
Common	Buy Transaction	623	58.7617 USD
Common	Buy Transaction	1,959	58.7624 USD
Common	Buy Transaction	1,353	58.7643 USD
Common	Buy Transaction	1,086	58.7675 USD
Common	Buy Transaction	4	58.7675 USD
Common	Buy Transaction	6,057	58.7677 USD
Common	Buy Transaction	100	58.7700 USD
Common	Buy Transaction	1,337	58.7704 USD
Common	Buy Transaction	1,285	58.7811 USD
Common	Buy Transaction	605	58.7900 USD
Common	Buy Transaction	3,652	58.7905 USD
Common	Buy Transaction	235	58.7915 USD
Common	Buy Transaction	2,772	58.7983 USD
Common	Buy Transaction	50	58.8000 USD
Common	Buy Transaction	793	58.8088 USD
Common	Buy Transaction	1,782	58.8113 USD
Common	Buy Transaction	3,684	58.8126 USD
Common	Buy Transaction	118	58.8134 USD
Common	Buy Transaction	779	58.8242 USD
Common	Buy Transaction	77	58.8288 USD
Common	Buy Transaction	1,032	58.8298 USD
Common	Buy Transaction	101	58.8300 USD
Common	Buy Transaction	1,087	58.8317 USD
Common	Buy Transaction	2,508	58.8318 USD
Common	Buy Transaction	320	58.8350 USD
Common	Buy Transaction	1,639	58.8361 USD
Common	Buy Transaction	1,224	58.8383 USD
Common	Buy Transaction	203	58.8403 USD
Common	Buy Transaction	4	58.8450 USD
Common	Buy Transaction	463	58.8485 USD
Common	Buy Transaction	110	58.8500 USD
Common	Buy Transaction	1,049	58.8546 USD
Common	Buy Transaction	350	58.8550 USD
Common	Buy Transaction	4,263	58.8554 USD
Common	Buy Transaction	798	58.8567 USD
Common	Buy Transaction	251	58.8600 USD
Common	Buy Transaction	170	58.8625 USD
Common	Buy Transaction	5	58.8680 USD
Common	Buy Transaction	3,000	58.8800 USD
Common	Buy Transaction	100	58.8850 USD
Common	Buy Transaction	1,478	58.8857 USD
Common	Buy Transaction	1,083	58.8900 USD
Common	Buy Transaction	2,570	58.8931 USD
Common	Buy Transaction	708	58.8975 USD
Common	Buy Transaction	213	58.9000 USD
Common	Buy Transaction	4,132	58.9028 USD
Common	Buy Transaction	116	58.9100 USD
Common	Buy Transaction	10,991	58.9105 USD
Common	Buy Transaction	1,512	58.9122 USD
Common	Buy Transaction	200	58.9150 USD
Common	Buy Transaction	1,326	58.9191 USD
Common	Buy Transaction	100	58.9200 USD
Common	Buy Transaction	1,014	58.9206 USD
Common	Buy Transaction	684	58.9237 USD
Common	Buy Transaction	196	58.9238 USD
Common	Buy Transaction	200	58.9250 USD
Common	Buy Transaction	1	58.9300 USD
Common	Buy Transaction	158	58.9305 USD
Common	Buy Transaction	1,740	58.9325 USD
Common	Buy Transaction	4,660	58.9333 USD
Common	Buy Transaction	113	58.9378 USD
Common	Buy Transaction	1,087	58.9411 USD
Common	Buy Transaction	34	58.9412 USD
Common	Buy Transaction	328	58.9424 USD
Common	Buy Transaction	59	58.9432 USD
Common	Buy Transaction	219	58.9437 USD
Common	Buy Transaction	428	58.9447 USD
Common	Buy Transaction	756	58.9465 USD
Common	Buy Transaction	265	58.9467 USD
Common	Buy Transaction	379	58.9469 USD
Common	Buy Transaction	1,862	58.9474 USD
Common	Buy Transaction	1,010	58.9495 USD
Common	Buy Transaction	533	58.9549 USD
Common	Buy Transaction	85	58.9555 USD
Common	Buy Transaction	305	58.9563 USD
Common	Buy Transaction	4,026	58.9632 USD
Common	Buy Transaction	19	58.9637 USD
Common	Buy Transaction	1,306	58.9640 USD
Common	Buy Transaction	72	58.9700 USD
Common	Buy Transaction	149	58.9749 USD
Common	Buy Transaction	1,666	58.9782 USD
Common	Buy Transaction	200	58.9875 USD
Common	Buy Transaction	2,341	58.9900 USD
Common	Buy Transaction	2	58.9950 USD
Common	Buy Transaction	234	58.9951 USD
Common	Buy Transaction	474	58.9962 USD
Common	Buy Transaction	876	58.9997 USD
Common	Buy Transaction	1,012	59.0000 USD
Common	Buy Transaction	567	59.0038 USD
Common	Buy Transaction	352	59.0081 USD
Common	Buy Transaction	295	59.0084 USD
Common	Buy Transaction	1,864	59.0100 USD
Common	Buy Transaction	451	59.0123 USD
Common	Buy Transaction	131	59.0137 USD
Common	Buy Transaction	200	59.0150 USD
Common	Buy Transaction	108	59.0158 USD
Common	Buy Transaction	76	59.0179 USD
Common	Buy Transaction	334	59.0243 USD
Common	Buy Transaction	2,894	59.0266 USD
Common	Buy Transaction	115	59.0293 USD
Common	Buy Transaction	421	59.0294 USD
Common	Buy Transaction	32	59.0300 USD
Common	Buy Transaction	940	59.0310 USD
Common	Buy Transaction	396	59.0325 USD
Common	Buy Transaction	232	59.0359 USD
Common	Buy Transaction	180	59.0421 USD
Common	Buy Transaction	65	59.0423 USD
Common	Buy Transaction	95	59.0425 USD
Common	Buy Transaction	457	59.0427 USD
Common	Buy Transaction	131	59.0445 USD
Common	Buy Transaction	87	59.0450 USD
Common	Buy Transaction	1,395	59.0460 USD
Common	Buy Transaction	3,087	59.0464 USD
Common	Buy Transaction	47	59.0477 USD
Common	Buy Transaction	5,885	59.0500 USD
Common	Buy Transaction	200	59.0525 USD
Common	Buy Transaction	37	59.0541 USD
Common	Buy Transaction	181	59.0541 USD
Common	Buy Transaction	70	59.0543 USD
Common	Buy Transaction	27	59.0548 USD
Common	Buy Transaction	54	59.0556 USD
Common	Buy Transaction	826	59.0581 USD
Common	Buy Transaction	328	59.0582 USD
Common	Buy Transaction	222	59.0600 USD
Common	Buy Transaction	941	59.0611 USD
Common	Buy Transaction	6	59.0617 USD
Common	Buy Transaction	380	59.0632 USD
Common	Buy Transaction	196	59.0720 USD
Common	Buy Transaction	2,638	59.0732 USD
Common	Buy Transaction	307	59.0733 USD
Common	Buy Transaction	400	59.0750 USD
Common	Buy Transaction	18	59.0789 USD
Common	Buy Transaction	7	59.0814 USD
Common	Buy Transaction	77	59.0862 USD
Common	Buy Transaction	267	59.0880 USD
Common	Buy Transaction	104	59.0882 USD
Common	Buy Transaction	55	59.0884 USD
Common	Buy Transaction	40	59.0887 USD
Common	Buy Transaction	219	59.0888 USD
Common	Buy Transaction	102	59.0900 USD
Common	Buy Transaction	1,452	59.1000 USD
Common	Buy Transaction	120	59.1005 USD
Common	Buy Transaction	392	59.1008 USD
Common	Buy Transaction	75	59.1008 USD
Common	Buy Transaction	155	59.1009 USD
Common	Buy Transaction	55	59.1010 USD
Common	Buy Transaction	78	59.1010 USD
Common	Buy Transaction	18	59.1022 USD
Common	Buy Transaction	27	59.1026 USD
Common	Buy Transaction	135	59.1027 USD
Common	Buy Transaction	53	59.1028 USD
Common	Buy Transaction	42	59.1029 USD
Common	Buy Transaction	7	59.1057 USD
Common	Buy Transaction	103	59.1100 USD
Common	Buy Transaction	54,699	59.1200 USD
Common	Buy Transaction	2,029	59.1210 USD
Common	Buy Transaction	13	59.1215 USD
Common	Buy Transaction	10	59.1230 USD
Common	Buy Transaction	228	59.1300 USD
Common	Buy Transaction	14	59.1307 USD
Common	Buy Transaction	250	59.1400 USD
Common	Buy Transaction	34,874	59.1431 USD
Common	Buy Transaction	50	59.1450 USD
Common	Buy Transaction	3,647	59.1471 USD
Common	Buy Transaction	7	59.1486 USD
Common	DVP Transaction	200	58.3600 USD
Common	DVP Transaction	100	58.3650 USD
Common	DVP Transaction	35	58.4000 USD
Common	DVP Transaction	100	58.4200 USD
Common	DVP Transaction	300	58.4250 USD
Common	DVP Transaction	400	58.4325 USD
Common	DVP Transaction	400	58.4400 USD
Common	DVP Transaction	500	58.4450 USD
Common	DVP Transaction	100	58.4500 USD
Common	DVP Transaction	56	58.4550 USD
Common	DVP Transaction	1	58.4600 USD
Common	DVP Transaction	100	58.4750 USD
Common	DVP Transaction	572	58.4900 USD
Common	DVP Transaction	100	58.5000 USD
Common	DVP Transaction	99	58.5200 USD
Common	DVP Transaction	2	58.5600 USD
Common	DVP Transaction	5	58.7300 USD
Common	DVP Transaction	17	58.8200 USD
Common	DVP Transaction	119	58.8800 USD
Common	DVP Transaction	2,208	58.8802 USD
Common	DVP Transaction	8	58.8900 USD
Common	DVP Transaction	174	58.9036 USD
Common	DVP Transaction	1,902	58.9559 USD
Common	DVP Transaction	5	58.9800 USD
Common	DVP Transaction	601	58.9852 USD
Common	DVP Transaction	22	58.9900 USD
Common	DVP Transaction	76	59.0000 USD
Common	DVP Transaction	157	59.0081 USD
Common	DVP Transaction	69	59.0081 USD
Common	DVP Transaction	17	59.0088 USD
Common	DVP Transaction	30	59.0100 USD
Common	DVP Transaction	26	59.0115 USD
Common	DVP Transaction	300	59.0133 USD
Common	DVP Transaction	3,050	59.0155 USD
Common	DVP Transaction	2,165	59.0208 USD
Common	DVP Transaction	2,103	59.0230 USD
Common	DVP Transaction	225	59.0292 USD
Common	DVP Transaction	30	59.0300 USD
Common	DVP Transaction	3,257	59.0326 USD
Common	DVP Transaction	110	59.0400 USD
Common	DVP Transaction	4,090	59.0499 USD
Common	DVP Transaction	2,609	59.0500 USD
Common	DVP Transaction	675	59.0544 USD
Common	DVP Transaction	400	59.0562 USD
Common	DVP Transaction	16	59.0600 USD
Common	DVP Transaction	60	59.0700 USD
Common	DVP Transaction	304	59.0711 USD
Common	DVP Transaction	2,787	59.0717 USD
Common	DVP Transaction	300	59.0750 USD
Common	DVP Transaction	2	59.1050 USD
Common	DVP Transaction	2	59.1100 USD
Common	DVP Transaction	2,033	59.1192 USD
Common	DVP Transaction	53,921	59.1200 USD
Common	RVP Transaction	200	58.3600 USD
Common	RVP Transaction	100	58.3650 USD
Common	RVP Transaction	100	58.4200 USD
Common	RVP Transaction	300	58.4250 USD
Common	RVP Transaction	400	58.4400 USD
Common	RVP Transaction	200	58.4450 USD
Common	RVP Transaction	2,571	58.4476 USD
Common	RVP Transaction	100	58.4500 USD
Common	RVP Transaction	100	58.4750 USD
Common	RVP Transaction	572	58.4900 USD
Common	RVP Transaction	100	58.5000 USD
Common	RVP Transaction	99	58.5200 USD
Common	RVP Transaction	2	58.5600 USD
Common	RVP Transaction	61	58.6046 USD
Common	RVP Transaction	86	58.6312 USD
Common	RVP Transaction	5	58.7300 USD
Common	RVP Transaction	17	58.8200 USD
Common	RVP Transaction	237	58.8800 USD
Common	RVP Transaction	16	58.9450 USD
Common	RVP Transaction	26	58.9781 USD
Common	RVP Transaction	6	58.9800 USD
Common	RVP Transaction	1	58.9850 USD
Common	RVP Transaction	21	58.9900 USD
Common	RVP Transaction	60	59.0000 USD
Common	RVP Transaction	65	59.0023 USD
Common	RVP Transaction	41	59.0095 USD
Common	RVP Transaction	50	59.0096 USD
Common	RVP Transaction	156	59.0097 USD
Common	RVP Transaction	30	59.0100 USD
Common	RVP Transaction	24	59.0200 USD
Common	RVP Transaction	200	59.0237 USD
Common	RVP Transaction	100	59.0250 USD
Common	RVP Transaction	3	59.0267 USD
Common	RVP Transaction	124	59.0295 USD
Common	RVP Transaction	122	59.0300 USD
Common	RVP Transaction	892	59.0309 USD
Common	RVP Transaction	443	59.0321 USD
Common	RVP Transaction	432	59.0333 USD
Common	RVP Transaction	94	59.0373 USD
Common	RVP Transaction	423	59.0376 USD
Common	RVP Transaction	260	59.0400 USD
Common	RVP Transaction	26	59.0523 USD
Common	RVP Transaction	14	59.0636 USD
Common	RVP Transaction	171	59.0644 USD
Common	RVP Transaction	85	59.0661 USD
Common	RVP Transaction	21,622	59.0671 USD
Common	RVP Transaction	598	59.0801 USD
Common	RVP Transaction	1	59.1000 USD
Common	RVP Transaction	1	59.1100 USD
Common	RVP Transaction	55,566	59.1200 USD
Common	RVP Transaction	17	59.1212 USD
Common	Sell Transaction	1	58.2400 USD
Common	Sell Transaction	42	58.2719 USD
Common	Sell Transaction	1,182	58.2722 USD
Common	Sell Transaction	1	58.2800 USD
Common	Sell Transaction	113	58.2838 USD
Common	Sell Transaction	404	58.3200 USD
Common	Sell Transaction	4	58.3225 USD
Common	Sell Transaction	1	58.3300 USD
Common	Sell Transaction	15	58.3320 USD
Common	Sell Transaction	300	58.3367 USD
Common	Sell Transaction	367	58.3385 USD
Common	Sell Transaction	690	58.3433 USD
Common	Sell Transaction	206	58.3530 USD
Common	Sell Transaction	43	58.3584 USD
Common	Sell Transaction	146	58.3600 USD
Common	Sell Transaction	431	58.3622 USD
Common	Sell Transaction	84	58.3700 USD
Common	Sell Transaction	201	58.3900 USD
Common	Sell Transaction	10	58.4000 USD
Common	Sell Transaction	102	58.4048 USD
Common	Sell Transaction	16	58.4056 USD
Common	Sell Transaction	173	58.4082 USD
Common	Sell Transaction	327	58.4121 USD
Common	Sell Transaction	17	58.4188 USD
Common	Sell Transaction	612	58.4192 USD
Common	Sell Transaction	5	58.4200 USD
Common	Sell Transaction	39	58.4300 USD
Common	Sell Transaction	86	58.4335 USD
Common	Sell Transaction	106	58.4400 USD
Common	Sell Transaction	249	58.4533 USD
Common	Sell Transaction	103	58.4542 USD
Common	Sell Transaction	9,660	58.4562 USD
Common	Sell Transaction	670	58.4588 USD
Common	Sell Transaction	49	58.4600 USD
Common	Sell Transaction	391	58.4622 USD
Common	Sell Transaction	531	58.4697 USD
Common	Sell Transaction	760	58.4721 USD
Common	Sell Transaction	400	58.4775 USD
Common	Sell Transaction	683	58.4800 USD
Common	Sell Transaction	192	58.4800 USD
Common	Sell Transaction	403	58.4900 USD
Common	Sell Transaction	50	58.5000 USD
Common	Sell Transaction	1,299	58.5064 USD
Common	Sell Transaction	500	58.5190 USD
Common	Sell Transaction	17	58.5206 USD
Common	Sell Transaction	10	58.5300 USD
Common	Sell Transaction	4,615	58.5414 USD
Common	Sell Transaction	1,711	58.5561 USD
Common	Sell Transaction	2,885	58.5588 USD
Common	Sell Transaction	159	58.5599 USD
Common	Sell Transaction	65	58.5631 USD
Common	Sell Transaction	4,661	58.5655 USD
Common	Sell Transaction	500	58.5691 USD
Common	Sell Transaction	1,596	58.5700 USD
Common	Sell Transaction	319	58.5700 USD
Common	Sell Transaction	33	58.5748 USD
Common	Sell Transaction	2,463	58.5791 USD
Common	Sell Transaction	100	58.5800 USD
Common	Sell Transaction	4,237	58.5887 USD
Common	Sell Transaction	7,907	58.5899 USD
Common	Sell Transaction	5	58.5900 USD
Common	Sell Transaction	100	58.5950 USD
Common	Sell Transaction	834	58.6030 USD
Common	Sell Transaction	1,041	58.6032 USD
Common	Sell Transaction	1,019	58.6076 USD
Common	Sell Transaction	1,834	58.6080 USD
Common	Sell Transaction	3	58.6100 USD
Common	Sell Transaction	530	58.6109 USD
Common	Sell Transaction	134	58.6145 USD
Common	Sell Transaction	13,623	58.6170 USD
Common	Sell Transaction	91	58.6170 USD
Common	Sell Transaction	2,610	58.6216 USD
Common	Sell Transaction	1,186	58.6338 USD
Common	Sell Transaction	608	58.6341 USD
Common	Sell Transaction	738	58.6404 USD
Common	Sell Transaction	211	58.6416 USD
Common	Sell Transaction	17,181	58.6416 USD
Common	Sell Transaction	4,100	58.6419 USD
Common	Sell Transaction	3,755	58.6420 USD
Common	Sell Transaction	2,163	58.6444 USD
Common	Sell Transaction	7,532	58.6518 USD
Common	Sell Transaction	104	58.6523 USD
Common	Sell Transaction	2,782	58.6527 USD
Common	Sell Transaction	13	58.6562 USD
Common	Sell Transaction	493	58.6578 USD
Common	Sell Transaction	3,562	58.6621 USD
Common	Sell Transaction	664	58.6659 USD
Common	Sell Transaction	203	58.6675 USD
Common	Sell Transaction	1,627	58.6696 USD
Common	Sell Transaction	685	58.6764 USD
Common	Sell Transaction	16,111	58.6899 USD
Common	Sell Transaction	5,835	58.6969 USD
Common	Sell Transaction	248	58.7019 USD
Common	Sell Transaction	4,064	58.7021 USD
Common	Sell Transaction	787	58.7046 USD
Common	Sell Transaction	2,289	58.7069 USD
Common	Sell Transaction	1,483	58.7159 USD
Common	Sell Transaction	65	58.7174 USD
Common	Sell Transaction	5,793	58.7314 USD
Common	Sell Transaction	890	58.7499 USD
Common	Sell Transaction	8	58.7512 USD
Common	Sell Transaction	527	58.7559 USD
Common	Sell Transaction	2,666	58.7570 USD
Common	Sell Transaction	2,261	58.7599 USD
Common	Sell Transaction	213	58.7603 USD
Common	Sell Transaction	500	58.7620 USD
Common	Sell Transaction	861	58.7709 USD
Common	Sell Transaction	500	58.7780 USD
Common	Sell Transaction	248	58.7800 USD
Common	Sell Transaction	1,110	58.7820 USD
Common	Sell Transaction	113	58.7831 USD
Common	Sell Transaction	10	58.7860 USD
Common	Sell Transaction	33	58.7900 USD
Common	Sell Transaction	347	58.7910 USD
Common	Sell Transaction	182	58.7938 USD
Common	Sell Transaction	22	58.8000 USD
Common	Sell Transaction	1,273	58.8160 USD
Common	Sell Transaction	590	58.8214 USD
Common	Sell Transaction	31	58.8277 USD
Common	Sell Transaction	242	58.8420 USD
Common	Sell Transaction	57	58.8500 USD
Common	Sell Transaction	164	58.8542 USD
Common	Sell Transaction	5	58.8560 USD
Common	Sell Transaction	108	58.8563 USD
Common	Sell Transaction	38	58.8600 USD
Common	Sell Transaction	943	58.8690 USD
Common	Sell Transaction	8	58.8700 USD
Common	Sell Transaction	461	58.8727 USD
Common	Sell Transaction	3,000	58.8800 USD
Common	Sell Transaction	1,507	58.8800 USD
Common	Sell Transaction	2,937	58.8812 USD
Common	Sell Transaction	677	58.8904 USD
Common	Sell Transaction	730	58.8962 USD
Common	Sell Transaction	1,058	58.9103 USD
Common	Sell Transaction	2,127	58.9241 USD
Common	Sell Transaction	126	58.9311 USD
Common	Sell Transaction	2,182	58.9367 USD
Common	Sell Transaction	1,827	58.9393 USD
Common	Sell Transaction	16	58.9400 USD
Common	Sell Transaction	804	58.9408 USD
Common	Sell Transaction	350	58.9429 USD
Common	Sell Transaction	420	58.9433 USD
Common	Sell Transaction	2,095	58.9441 USD
Common	Sell Transaction	19	58.9637 USD
Common	Sell Transaction	137	58.9655 USD
Common	Sell Transaction	125	58.9744 USD
Common	Sell Transaction	25	58.9776 USD
Common	Sell Transaction	205	58.9782 USD
Common	Sell Transaction	85	58.9800 USD
Common	Sell Transaction	260	58.9852 USD
Common	Sell Transaction	4	58.9900 USD
Common	Sell Transaction	500	58.9940 USD
Common	Sell Transaction	185	59.0022 USD
Common	Sell Transaction	532	59.0027 USD
Common	Sell Transaction	11	59.0045 USD
Common	Sell Transaction	178	59.0048 USD
Common	Sell Transaction	2	59.0050 USD
Common	Sell Transaction	161	59.0080 USD
Common	Sell Transaction	85	59.0087 USD
Common	Sell Transaction	297	59.0100 USD
Common	Sell Transaction	2,814	59.0150 USD
Common	Sell Transaction	20	59.0190 USD
Common	Sell Transaction	28	59.0193 USD
Common	Sell Transaction	553	59.0293 USD
Common	Sell Transaction	393	59.0375 USD
Common	Sell Transaction	5	59.0380 USD
Common	Sell Transaction	255	59.0392 USD
Common	Sell Transaction	662	59.0416 USD
Common	Sell Transaction	500	59.0500 USD
Common	Sell Transaction	100	59.0800 USD
Common	Sell Transaction	200	59.0900 USD
Common	Sell Transaction	218	59.1000 USD
Common	Sell Transaction	132	59.1031 USD
Common	Sell Transaction	58	59.1050 USD
Common	Sell Transaction	679	59.1050 USD
Common	Sell Transaction	50	59.1060 USD
Common	Sell Transaction	140	59.1086 USD
Common	Sell Transaction	503	59.1095 USD
Common	Sell Transaction	1	59.1100 USD
Common	Sell Transaction	4	59.1150 USD
Common	Sell Transaction	54,708	59.1200 USD
Common	Sell Transaction	175	59.1400 USD
Common	Sell Transaction	7	59.1486 USD
Common	Sell Transaction	202	59.2099 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

(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
Common	Put Option	Buy Transaction	2	52.0000 USD	American	2025-Jan-31	0.1000 USD
Common	Call Option	Buy Transaction	1	65.0000 USD	American	2025-Feb-21	0.2000 USD
Common	Put Option	Buy Transaction	18	54.0000 USD	American	2025-Feb-07	0.3000 USD
Common	Call Option	Buy Transaction	1	62.0000 USD	American	2025-Jan-31	0.3500 USD
Common	Call Option	Buy Transaction	1	61.0000 USD	American	2025-Jan-31	0.5500 USD
Common	Call Option	Buy Transaction	1	61.0000 USD	American	2025-Feb-07	0.6500 USD
Common	Call Option	Buy Transaction	1	62.5000 USD	American	2025-Feb-21	0.7000 USD
Common	Call Option	Buy Transaction	1	62.0000 USD	American	2025-Feb-21	0.7000 USD
Common	Put Option	Buy Transaction	10	55.0000 USD	American	2025-Feb-21	0.8700 USD
Common	Call Option	Buy Transaction	2	58.0000 USD	American	2025-Feb-07	1.9300 USD
Common	Call Option	Buy Transaction	4	65.0000 USD	American	2025-Jul-18	1.9500 USD
Common	Call Option	Buy Transaction	2	60.0000 USD	American	2025-Mar-21	2.0000 USD
Common	Call Option	Buy Transaction	5	70.0000 USD	American	2026-Jan-16	2.1500 USD
Common	Put Option	Buy Transaction	2	57.5000 USD	American	2025-Mar-21	2.2000 USD
Common	Call Option	Buy Transaction	1	58.0000 USD	American	2025-Feb-21	2.4000 USD
Common	Call Option	Buy Transaction	1	57.5000 USD	American	2025-Mar-21	3.4600 USD
Common	Put Option	Buy Transaction	2	50.0000 USD	American	2027-Jan-15	4.2000 USD
Common	Put Option	Sell Transaction	2	53.0000 USD	American	2025-Jan-31	0.1300 USD
Common	Call Option	Sell Transaction	1	63.0000 USD	American	2025-Jan-31	0.2300 USD
Common	Put Option	Sell Transaction	4	50.0000 USD	American	2025-Feb-21	0.2500 USD
Common	Call Option	Sell Transaction	9	62.0000 USD	American	2025-Jan-31	0.3000 USD
Common	Call Option	Sell Transaction	1	62.0000 USD	American	2025-Jan-31	0.3400 USD
Common	Call Option	Sell Transaction	1	63.0000 USD	American	2025-Feb-07	0.4000 USD
Common	Call Option	Sell Transaction	19	61.0000 USD	American	2025-Jan-31	0.5000 USD
Common	Call Option	Sell Transaction	6	61.0000 USD	American	2025-Jan-31	0.6500 USD
Common	Call Option	Sell Transaction	1	60.0000 USD	American	2025-Jan-31	0.9000 USD
Common	Call Option	Sell Transaction	12	65.0000 USD	American	2025-Apr-17	0.9500 USD
Common	Call Option	Sell Transaction	7	67.5000 USD	American	2025-Jun-20	1.0500 USD
Common	Call Option	Sell Transaction	1	60.0000 USD	American	2025-Feb-07	1.1000 USD
Common	Call Option	Sell Transaction	7	59.0000 USD	American	2025-Jan-31	1.1500 USD
Common	Put Option	Sell Transaction	3	58.0000 USD	American	2025-Jan-31	1.2000 USD
Common	Call Option	Sell Transaction	10	60.0000 USD	American	2025-Feb-14	1.2000 USD
Common	Put Option	Sell Transaction	1	50.0000 USD	American	2025-Jul-18	1.3700 USD
Common	Put Option	Sell Transaction	1	58.0000 USD	American	2025-Feb-07	1.4000 USD
Common	Call Option	Sell Transaction	11	62.5000 USD	American	2025-Apr-17	1.4500 USD
Common	Put Option	Sell Transaction	1	57.0000 USD	American	2025-Feb-21	1.5000 USD
Common	Call Option	Sell Transaction	2	58.0000 USD	American	2025-Jan-31	1.7000 USD
Common	Put Option	Sell Transaction	10	57.5000 USD	American	2025-Feb-21	1.7200 USD
Common	Call Option	Sell Transaction	4	59.0000 USD	American	2025-Feb-14	1.8500 USD
Common	Call Option	Sell Transaction	3	58.0000 USD	American	2025-Feb-07	1.9000 USD
Common	Put Option	Sell Transaction	1	58.0000 USD	American	2025-Feb-21	1.9500 USD
Common	Put Option	Sell Transaction	14	60.0000 USD	American	2025-Jan-31	2.0000 USD
Common	Put Option	Sell Transaction	2	60.0000 USD	American	2025-Feb-07	2.1500 USD
Common	Call Option	Sell Transaction	4	58.0000 USD	American	2025-Feb-14	2.1500 USD
Common	Put Option	Sell Transaction	1	57.5000 USD	American	2025-Mar-21	2.2000 USD
Common	Call Option	Sell Transaction	1	58.0000 USD	American	2025-Feb-14	2.2500 USD
Common	Call Option	Sell Transaction	2	60.0000 USD	American	2025-Apr-17	2.3000 USD
Common	Call Option	Sell Transaction	2	62.5000 USD	American	2025-Jun-20	2.3000 USD
Common	Put Option	Sell Transaction	8	59.0000 USD	American	2025-Feb-21	2.4000 USD
Common	Put Option	Sell Transaction	3	57.5000 USD	American	2025-Apr-17	2.4500 USD
Common	Put Option	Sell Transaction	1	57.5000 USD	American	2025-Apr-17	2.5000 USD
Common	Put Option	Sell Transaction	1	57.5000 USD	American	2025-Apr-17	2.5500 USD
Common	Put Option	Sell Transaction	1	57.5000 USD	American	2025-Apr-17	2.6000 USD
Common	Put Option	Sell Transaction	2	57.5000 USD	American	2025-Apr-17	2.6500 USD
Common	Call Option	Sell Transaction	11	57.0000 USD	American	2025-Feb-14	2.7500 USD
Common	Put Option	Sell Transaction	1	60.0000 USD	American	2025-Feb-21	2.8100 USD
Common	Call Option	Sell Transaction	1	57.0000 USD	American	2025-Feb-21	3.0000 USD
Common	Put Option	Sell Transaction	1	47.5000 USD	American	2027-Jan-15	3.6800 USD
Common	Call Option	Sell Transaction	10	60.0000 USD	American	2025-Jun-20	3.7000 USD
Common	Call Option	Sell Transaction	15	57.5000 USD	American	2025-Apr-17	3.8000 USD
Common	Put Option	Sell Transaction	18	60.0000 USD	American	2025-Jun-20	4.5000 USD
Common	Call Option	Sell Transaction	1	55.0000 USD	American	2025-Feb-21	4.9600 USD
Common	Call Option	Sell Transaction	1	55.0000 USD	American	2025-Apr-17	5.1000 USD
Common	Call Option	Sell Transaction	1	52.5000 USD	American	2025-Apr-17	7.0000 USD
Common	Call Option	Sell Transaction	1	47.5000 USD	American	2027-Jan-15	15.3400 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

(c)        Attachments

Is a Supplemental Form 8 (Open Positions) attached?

YES

Date of disclosure:	29 January 2025
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 [phone].

*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	Put Option	Purchased	-100	49.0 USD	American	07/02/2025
Common	Call Option	Purchased	15,400	50.0 USD	American	20/06/2025
Common	Call Option	Purchased	30,800	55.0 USD	American	17/10/2025
Common	Call Option	Purchased	600	65.0 USD	American	18/07/2025
Common	Put Option	Purchased	-1,900	47.5 USD	American	21/02/2025
Common	Call Option	Purchased	5,400	52.5 USD	American	17/04/2025
Common	Call Option	Purchased	400	59.0 USD	American	14/02/2025
Common	Put Option	Purchased	0	50.0 USD	American	31/01/2025
Common	Call Option	Purchased	900	54.0 USD	American	31/01/2025
Common	Put Option	Purchased	-5,400	17.5 USD	American	16/01/2026
Common	Call Option	Purchased	500	40.0 USD	American	17/04/2025
Common	Call Option	Purchased	1,800	64.0 USD	American	21/02/2025
Common	Call Option	Purchased	20,400	27.5 USD	American	16/01/2026
Common	Call Option	Purchased	5,500	50.0 USD	American	19/09/2025
Common	Call Option	Purchased	0	61.0 USD	American	21/02/2025
Common	Call Option	Purchased	7,200	62.5 USD	American	17/10/2025
Common	Call Option	Purchased	5,200	60.0 USD	American	17/10/2025
Common	Call Option	Purchased	2,000	57.5 USD	American	20/06/2025
Common	Call Option	Purchased	300	45.0 USD	American	18/07/2025
Common	Call Option	Purchased	100	35.0 USD	American	15/01/2027
Common	Put Option	Purchased	-200	50.0 USD	American	15/01/2027
Common	Call Option	Purchased	700	57.5 USD	American	16/01/2026
Common	Call Option	Purchased	900	52.5 USD	American	15/01/2027
Common	Call Option	Purchased	3,000	62.5 USD	American	21/03/2025
Common	Call Option	Purchased	4,000	60.0 USD	American	31/01/2025
Common	Put Option	Purchased	-300	60.0 USD	American	21/02/2025
Common	Put Option	Purchased	-7,400	50.0 USD	American	16/01/2026
Common	Call Option	Purchased	11,300	55.0 USD	American	16/01/2026
Common	Put Option	Purchased	-700	42.5 USD	American	21/02/2025
Common	Call Option	Purchased	9,300	57.5 USD	American	17/04/2025
Common	Call Option	Purchased	0	67.5 USD	American	19/09/2025
Common	Call Option	Purchased	7,100	57.5 USD	American	21/02/2025
Common	Call Option	Purchased	1,700	32.5 USD	American	16/01/2026
Common	Call Option	Purchased	300	42.5 USD	American	20/06/2025
Common	Put Option	Purchased	-8,200	40.0 USD	American	16/01/2026
Common	Call Option	Purchased	0	54.0 USD	American	07/02/2025
Common	Call Option	Purchased	15,500	62.5 USD	American	18/07/2025
Common	Put Option	Purchased	-200	55.0 USD	American	28/02/2025
Common	Put Option	Purchased	-100	47.5 USD	American	17/10/2025
Common	Call Option	Purchased	2,400	40.0 USD	American	16/01/2026
Common	Call Option	Purchased	1,000	60.0 USD	American	28/02/2025
Common	Call Option	Purchased	1,100	61.0 USD	American	14/02/2025
Common	Put Option	Purchased	-1,700	58.0 USD	American	21/02/2025
Common	Call Option	Purchased	400	59.0 USD	American	21/02/2025
Common	Call Option	Purchased	6,700	35.0 USD	American	16/01/2026
Common	Put Option	Purchased	-2,000	50.0 USD	American	17/04/2025
Common	Put Option	Purchased	0	56.0 USD	American	07/02/2025
Common	Call Option	Purchased	400	62.0 USD	American	07/03/2025
Common	Call Option	Purchased	23,400	62.5 USD	American	21/02/2025
Common	Call Option	Purchased	300	70.0 USD	American	15/01/2027
Common	Call Option	Purchased	0	60.0 USD	American	21/03/2025
Common	Call Option	Purchased	200	30.0 USD	American	19/09/2025
Common	Call Option	Purchased	1,000	70.0 USD	American	21/02/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	13/10/2025
Common	Put Option	Purchased	-20,000	55.0 USD	American	16/01/2026
Common	Put Option	Purchased	-500	37.5 USD	American	20/06/2025
Common	Call Option	Purchased	1,300	57.0 USD	American	07/02/2025
Common	Call Option	Purchased	100	37.5 USD	American	19/09/2025
Common	Call Option	Purchased	0	62.5 USD	American	20/06/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	15/10/2025
Common	Call Option	Purchased	2,300	57.5 USD	American	18/07/2025
Common	Call Option	Purchased	20,500	65.0 USD	American	20/06/2025
Common	Call Option	Purchased	900	61.0 USD	American	28/02/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	15/10/2025
Common	Put Option	Purchased	-200	51.0 USD	American	14/02/2025
Common	Put Option	Purchased	-2,400	45.0 USD	American	19/09/2025
Common	Put Option	Purchased	-100	45.0 USD	American	21/02/2025
Common	Call Option	Purchased	22,200	52.5 USD	American	17/10/2025
Common	Put Option	Purchased	-200	40.0 USD	American	20/06/2025
Common	Put Option	Purchased	-4,400	45.0 USD	American	17/04/2025
Common	Put Option	Purchased	-500	53.0 USD	American	28/02/2025
Common	Call Option	Purchased	1,700	52.5 USD	American	21/02/2025
Common	Put Option	Purchased	0	60.0 USD	American	21/03/2025
Common	Call Option	Purchased	300	50.0 USD	American	18/07/2025
Common	Put Option	Purchased	-400	42.5 USD	American	17/04/2025
Common	Put Option	Purchased	-75,000	55.0 USD	American	18/07/2025
Common	Put Option	Purchased	-200	57.5 USD	American	20/06/2025
Common	Put Option	Purchased	-100	52.5 USD	American	17/10/2025
Common	Put Option	Purchased	-200	42.5 USD	American	19/09/2025
Common	Call Option	Purchased	800	40.0 USD	American	15/01/2027
Common	Call Option	Purchased	400	65.0 USD	American	21/03/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	14/10/2025
Common	Put Option	Purchased	-1,100	54.0 USD	American	07/02/2025
Common	Call Option	Purchased	8,500	55.0 USD	American	20/06/2025
Common	Put Option	Purchased	-4,900	49.0 USD	American	31/01/2025
Common	Call Option	Purchased	7,600	65.0 USD	American	17/04/2025
Common	Call Option	Purchased	200	57.0 USD	American	28/02/2025
Common	Put Option	Purchased	0	58.0 USD	American	07/02/2025
Common	Call Option	Purchased	1,200	64.0 USD	American	31/01/2025
Common	Call Option	Purchased	300	65.0 USD	American	21/02/2025
Common	Call Option	Purchased	700	65.0 USD	American	19/09/2025
Common	Call Option	Purchased	0	56.0 USD	American	07/02/2025
Common	Put Option	Purchased	-4,900	54.0 USD	American	31/01/2025
Common	Call Option	Purchased	3,700	47.5 USD	American	16/01/2026
Common	Put Option	Purchased	-200	49.0 USD	American	28/02/2025
Common	Call Option	Purchased	5,200	37.5 USD	American	16/01/2026
Common	Call Option	Purchased	100	37.5 USD	American	20/06/2025
Common	Put Option	Purchased	-35,900	57.0 USD	American	31/01/2025
Common	Put Option	Purchased	0	58.0 USD	American	14/02/2025
Common	Put Option	Purchased	-33,300	55.0 USD	American	16/01/2026
Common	Call Option	Purchased	2,200	60.0 USD	American	19/09/2025
Common	Call Option	Purchased	3,600	60.0 USD	American	18/07/2025
Common	Call Option	Purchased	17,700	57.5 USD	American	19/09/2025
Common	Call Option	Purchased	74,500	55.0 USD	American	17/04/2025
Common	Put Option	Purchased	-1,000	35.0 USD	American	17/10/2025
Common	Call Option	Purchased	3,100	60.0 USD	American	20/06/2025
Common	Call Option	Purchased	3,600	70.0 USD	American	20/06/2025
Common	Put Option	Purchased	-100	57.0 USD	American	07/02/2025
Common	Call Option	Purchased	22,800	60.0 USD	American	17/04/2025
Common	Put Option	Purchased	-100	65.0 USD	American	16/01/2026
Common	Call Option	Purchased	1,600	67.5 USD	American	16/01/2026
Common	Call Option	Purchased	400	55.0 USD	American	15/01/2027
Common	Call Option	Purchased	2,700	62.0 USD	American	21/02/2025
Common	Put Option	Purchased	-10,500	45.0 USD	American	17/10/2025
Common	Call Option	Purchased	28,900	52.5 USD	American	19/09/2025
Common	Call Option	Purchased	75,000	62.5 USD	American	18/07/2025
Common	Call Option	Purchased	35,000	60.0 USD	American	21/02/2025
Common	Call Option	Purchased	100	75.0 USD	American	18/07/2025
Common	Call Option	Purchased	1,000	80.0 USD	American	16/01/2026
Common	Call Option	Purchased	1,500	70.0 USD	American	17/04/2025
Common	Call Option	Purchased	600	30.0 USD	American	15/01/2027
Common	Call Option	Purchased	81,500	54.9 USD	European	13/10/2025
Common	Call Option	Purchased	100	64.0 USD	American	07/02/2025
Common	Call Option	Purchased	800	55.0 USD	American	07/02/2025
Common	Call Option	Purchased	200	62.0 USD	American	28/02/2025
Common	Call Option	Purchased	400	56.0 USD	American	28/02/2025
Common	Put Option	Purchased	-200	55.0 USD	American	07/02/2025
Common	Put Option	Purchased	-500	55.0 USD	American	14/02/2025
Common	Call Option	Purchased	700	52.5 USD	American	16/01/2026
Common	Put Option	Purchased	-200	59.0 USD	American	07/02/2025
Common	Call Option	Purchased	900	61.0 USD	American	07/02/2025
Common	Call Option	Purchased	600	67.5 USD	American	15/01/2027
Common	Put Option	Purchased	-100	54.0 USD	American	14/02/2025
Common	Put Option	Purchased	-3,100	50.0 USD	American	19/09/2025
Common	Call Option	Purchased	1,000	53.0 USD	American	07/02/2025
Common	Put Option	Purchased	-500	37.5 USD	American	19/09/2025
Common	Call Option	Purchased	100	58.0 USD	American	21/02/2025
Common	Put Option	Purchased	-1,600	55.0 USD	American	21/02/2025
Common	Call Option	Purchased	300	40.0 USD	American	20/06/2025
Common	Call Option	Purchased	42,100	52.5 USD	American	20/06/2025
Common	Put Option	Purchased	-3,800	32.5 USD	American	16/01/2026
Common	Put Option	Purchased	-100	57.5 USD	American	21/03/2025
Common	Put Option	Purchased	-500	20.0 USD	American	16/01/2026
Common	Put Option	Purchased	-7,400	52.5 USD	American	19/09/2025
Common	Call Option	Purchased	700	53.0 USD	American	14/02/2025
Common	Call Option	Purchased	3,100	52.5 USD	American	18/07/2025
Common	Call Option	Purchased	4,200	55.0 USD	American	19/09/2025
Common	Put Option	Purchased	-1,700	42.5 USD	American	20/06/2025
Common	Call Option	Purchased	1,200	60.0 USD	American	07/02/2025
Common	Put Option	Purchased	-1,500	47.0 USD	American	31/01/2025
Common	Call Option	Purchased	0	75.0 USD	American	20/06/2025
Common	Call Option	Purchased	2,400	50.0 USD	American	15/01/2027
Common	Call Option	Purchased	100	52.0 USD	American	31/01/2025
Common	Call Option	Purchased	400	65.0 USD	American	15/01/2027
Common	Put Option	Purchased	-100	56.0 USD	American	14/02/2025
Common	Put Option	Purchased	0	51.0 USD	American	31/01/2025
Common	Put Option	Purchased	-50,000	52.5 USD	American	16/01/2026
Common	Call Option	Purchased	100	80.0 USD	American	20/06/2025
Common	Call Option	Purchased	1,300	30.0 USD	American	16/01/2026
Common	Put Option	Purchased	-500	35.0 USD	American	18/07/2025
Common	Put Option	Purchased	-400	50.0 USD	American	18/07/2025
Common	Put Option	Purchased	-300	56.0 USD	American	21/02/2025
Common	Put Option	Purchased	-12,500	50.0 USD	American	16/01/2026
Common	Put Option	Purchased	-6,600	55.0 USD	American	18/07/2025
Common	Put Option	Purchased	-1,100	53.0 USD	American	31/01/2025
Common	Call Option	Purchased	4,600	50.0 USD	American	16/01/2026
Common	Put Option	Purchased	0	47.5 USD	American	18/07/2025
Common	Call Option	Purchased	100	56.0 USD	American	31/01/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	14/10/2025
Common	Call Option	Purchased	600	32.5 USD	American	15/01/2027
Common	Call Option	Sold	-300	54.0 USD	American	28/02/2025
Common	Put Option	Sold	13,600	52.0 USD	American	31/01/2025
Common	Call Option	Sold	-2,900	70.0 USD	American	18/07/2025
Common	Call Option	Sold	-700	62.0 USD	American	31/01/2025
Common	Call Option	Sold	-600	50.0 USD	American	21/02/2025
Common	Call Option	Sold	-1,000	85.0 USD	American	16/01/2026
Common	Call Option	Sold	-200	58.0 USD	American	31/01/2025
Common	Put Option	Sold	9,100	52.5 USD	American	18/07/2025
Common	Call Option	Sold	-10,500	47.5 USD	American	17/04/2025
Common	Call Option	Sold	-3,000	55.0 USD	American	31/01/2025
Common	Put Option	Sold	2,300	57.5 USD	American	21/02/2025
Common	Call Option	Sold	-200	56.0 USD	American	14/02/2025
Common	Put Option	Sold	400	47.5 USD	American	16/01/2026
Common	Put Option	Sold	500	55.0 USD	American	19/09/2025
Common	Put Option	Sold	8,100	47.5 USD	American	17/04/2025
Common	Call Option	Sold	-15,800	63.0 USD	American	31/01/2025
Common	Put Option	Sold	300	27.5 USD	American	16/01/2026
Common	Call Option	Sold	-12,200	70.0 USD	American	16/01/2026
Common	Call Option	Sold	-600	59.0 USD	American	28/02/2025
Common	Put Option	Sold	100	40.0 USD	American	17/04/2025
Common	Put Option	Sold	200	57.5 USD	American	18/07/2025
Common	Put Option	Sold	4,900	52.5 USD	American	20/06/2025
Common	Put Option	Sold	13,100	45.0 USD	American	16/01/2026
Common	Put Option	Sold	1,200	50.0 USD	American	21/02/2025
Common	Put Option	Sold	500	57.5 USD	American	15/01/2027
Common	Call Option	Sold	-3,800	65.0 USD	American	16/01/2026
Common	Put Option	Sold	3,000	62.5 USD	American	20/06/2025
Common	Call Option	Sold	-2,200	63.0 USD	American	21/02/2025
Common	Call Option	Sold	-100	75.0 USD	American	19/09/2025
Common	Put Option	Sold	13,100	50.0 USD	American	20/06/2025
Common	Put Option	Sold	8,600	57.5 USD	American	16/01/2026
Common	Call Option	Sold	-2,500	47.5 USD	American	19/09/2025
Common	Call Option	Sold	-100	66.0 USD	American	07/02/2025
Common	Call Option	Sold	-2,600	45.0 USD	American	16/01/2026
Common	Put Option	Sold	4,400	47.5 USD	American	20/06/2025
Common	Put Option	Sold	100	56.0 USD	American	28/02/2025
Common	Call Option	Sold	-100	57.5 USD	American	21/03/2025
Common	Call Option	Sold	-1,300	57.5 USD	American	17/10/2025
Common	Call Option	Sold	-500	55.0 USD	American	14/02/2025
Common	Put Option	Sold	2,000	57.0 USD	American	21/02/2025
Common	Call Option	Sold	-900	60.0 USD	American	14/02/2025
Common	Put Option	Sold	200	58.0 USD	American	31/01/2025
Common	Put Option	Sold	23,800	52.5 USD	American	17/04/2025
Common	Call Option	Sold	-800	47.5 USD	American	20/06/2025
Common	Call Option	Sold	-4,200	42.5 USD	American	19/09/2025
Common	Put Option	Sold	2,800	42.5 USD	American	16/01/2026
Common	Put Option	Sold	1,200	53.0 USD	American	07/02/2025
Common	Call Option	Sold	-2,600	62.5 USD	American	16/01/2026
Common	Put Option	Sold	200	65.0 USD	American	20/06/2025
Common	Put Option	Sold	1,400	60.0 USD	American	31/01/2025
Common	Call Option	Sold	-2,400	42.5 USD	American	16/01/2026
Common	Put Option	Sold	100	48.0 USD	American	07/02/2025
Common	Put Option	Sold	1,600	52.5 USD	American	16/01/2026
Common	Call Option	Sold	-400	58.0 USD	American	07/02/2025
Common	Put Option	Sold	100	60.0 USD	American	28/02/2025
Common	Put Option	Sold	100	35.0 USD	American	16/01/2026
Common	Put Option	Sold	1,000	60.0 USD	American	17/04/2025
Common	Put Option	Sold	5,400	55.0 USD	American	31/01/2025
Common	Call Option	Sold	-2,000	42.5 USD	American	17/10/2025
Common	Put Option	Sold	200	60.0 USD	American	16/01/2026
Common	Put Option	Sold	1,800	51.0 USD	American	07/02/2025
Common	Call Option	Sold	-1,100	59.0 USD	American	07/02/2025
Common	Call Option	Sold	-2,800	67.5 USD	American	20/06/2025
Common	Put Option	Sold	2,700	70.0 USD	American	18/07/2025
Common	Call Option	Sold	-800	62.0 USD	American	14/02/2025
Common	Put Option	Sold	100	37.5 USD	American	17/04/2025
Common	Put Option	Sold	7,900	60.0 USD	American	20/06/2025
Common	Put Option	Sold	23,500	55.0 USD	American	17/04/2025
Common	Call Option	Sold	-8,600	45.0 USD	American	20/06/2025
Common	Call Option	Sold	-40,600	55.0 USD	American	21/02/2025
Common	Put Option	Sold	4,400	37.5 USD	American	16/01/2026
Common	Call Option	Sold	-6,800	62.5 USD	American	17/04/2025
Common	Call Option	Sold	-100	47.5 USD	American	15/01/2027
Common	Put Option	Sold	2,800	30.0 USD	American	16/01/2026
Common	Put Option	Sold	400	52.5 USD	American	21/02/2025
Common	Call Option	Sold	-1,800	54.0 USD	American	14/02/2025
Common	Put Option	Sold	100	59.0 USD	American	14/02/2025
Common	Put Option	Sold	200	62.5 USD	American	18/07/2025
Common	Call Option	Sold	-29,000	67.5 USD	American	17/04/2025
Common	Put Option	Sold	100	60.0 USD	American	17/10/2025
Common	Call Option	Sold	-9,500	60.0 USD	American	16/01/2026
Common	Put Option	Sold	4,800	25.0 USD	American	16/01/2026
Common	Put Option	Sold	3,000	62.5 USD	American	17/04/2025
Common	Put Option	Sold	1,300	47.5 USD	American	19/09/2025
Common	Call Option	Sold	-100	45.0 USD	American	17/10/2025
Common	Put Option	Sold	200	60.0 USD	American	07/02/2025
Common	Call Option	Sold	-900	55.0 USD	American	18/07/2025
Common	Call Option	Sold	-2,600	61.0 USD	American	31/01/2025
Common	Call Option	Sold	-2,000	59.0 USD	American	31/01/2025
Common	Call Option	Sold	-400	42.5 USD	American	17/04/2025
Common	Call Option	Sold	-11,900	50.0 USD	American	17/04/2025
Common	Call Option	Sold	-200	70.0 USD	American	21/03/2025
Common	Put Option	Sold	400	59.0 USD	American	31/01/2025
Common	Call Option	Sold	-200	57.0 USD	American	14/02/2025
Common	Call Option	Sold	-1,000	45.0 USD	American	17/04/2025
Common	Call Option	Sold	-200	57.0 USD	American	21/02/2025
Common	Put Option	Sold	100	50.0 USD	American	21/03/2025
Common	Put Option	Sold	200	55.0 USD	American	21/03/2025
Common	Put Option	Sold	1,100	50.0 USD	American	17/10/2025
Common	Put Option	Sold	1,300	52.0 USD	American	07/02/2025
Common	Call Option	Sold	-800	57.0 USD	American	31/01/2025
Common	Put Option	Sold	600	45.0 USD	American	20/06/2025
Common	Put Option	Sold	7,400	50.0 USD	American	07/02/2025
Common	Put Option	Sold	100	47.5 USD	American	15/01/2027
Common	Put Option	Sold	100	62.5 USD	American	16/01/2026
Common	Call Option	Sold	-1,500	65.0 USD	American	17/10/2025
Common	Call Option	Sold	-100	55.0 USD	American	21/03/2025
Common	Call Option	Sold	-200	50.0 USD	American	17/10/2025
Common	Call Option	Sold	-700	55.0 USD	American	28/02/2025
Common	Put Option	Sold	800	59.0 USD	American	21/02/2025
Common	Put Option	Sold	100	52.5 USD	American	21/03/2025
Common	Call Option	Sold	-300	58.0 USD	American	14/02/2025
Common	Call Option	Sold	-1,600	70.0 USD	American	17/10/2025
Common	Put Option	Sold	23,700	57.5 USD	American	17/04/2025
Common	Put Option	Sold	600	53.0 USD	American	14/02/2025
Common	Call Option	Sold	-500	56.0 USD	American	21/02/2025
Common	Put Option	Sold	200	56.0 USD	American	31/01/2025
Common	Put Option	Sold	500	35.0 USD	American	15/01/2027
Common	Put Option	Sold	8,800	55.0 USD	American	20/06/2025

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 [phone].

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

 

END