Form 8.3 - International Paper Company

Citadel Group

20 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	19 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:	6,108	0.00	3,075,168	0.88
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,721,200	0.49	1,606,600	0.46
TOTAL:	1,727,308	0.49	4,681,768	1.34

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	1,453	53.1229 USD
Common	Buy Transaction	84	53.1733 USD
Common	Buy Transaction	263	53.1953 USD
Common	Buy Transaction	174	53.2000 USD
Common	Buy Transaction	1,226	53.2121 USD
Common	Buy Transaction	82	53.2128 USD
Common	Buy Transaction	103	53.2419 USD
Common	Buy Transaction	316	53.2600 USD
Common	Buy Transaction	141	53.2700 USD
Common	Buy Transaction	143	53.2780 USD
Common	Buy Transaction	12	53.3000 USD
Common	Buy Transaction	271	53.3100 USD
Common	Buy Transaction	2,528	53.3184 USD
Common	Buy Transaction	300	53.3267 USD
Common	Buy Transaction	87	53.3272 USD
Common	Buy Transaction	236	53.3300 USD
Common	Buy Transaction	162	53.3350 USD
Common	Buy Transaction	525	53.3435 USD
Common	Buy Transaction	199	53.3500 USD
Common	Buy Transaction	542	53.3689 USD
Common	Buy Transaction	300	53.3700 USD
Common	Buy Transaction	277	53.3772 USD
Common	Buy Transaction	837	53.3946 USD
Common	Buy Transaction	30	53.4000 USD
Common	Buy Transaction	4	53.4050 USD
Common	Buy Transaction	100	53.4100 USD
Common	Buy Transaction	193	53.4161 USD
Common	Buy Transaction	4	53.4225 USD
Common	Buy Transaction	116	53.4229 USD
Common	Buy Transaction	1,081	53.4287 USD
Common	Buy Transaction	17	53.4335 USD
Common	Buy Transaction	366	53.4350 USD
Common	Buy Transaction	7	53.4400 USD
Common	Buy Transaction	156	53.4500 USD
Common	Buy Transaction	571	53.4501 USD
Common	Buy Transaction	3	53.4612 USD
Common	Buy Transaction	200	53.4700 USD
Common	Buy Transaction	680	53.4800 USD
Common	Buy Transaction	727	53.4961 USD
Common	Buy Transaction	3,630	53.5000 USD
Common	Buy Transaction	2,825	53.5021 USD
Common	Buy Transaction	64	53.5079 USD
Common	Buy Transaction	64	53.5079 USD
Common	Buy Transaction	64	53.5100 USD
Common	Buy Transaction	875	53.5186 USD
Common	Buy Transaction	486	53.5199 USD
Common	Buy Transaction	200	53.5200 USD
Common	Buy Transaction	611	53.5200 USD
Common	Buy Transaction	2,300	53.5248 USD
Common	Buy Transaction	381	53.5265 USD
Common	Buy Transaction	600	53.5271 USD
Common	Buy Transaction	1,046	53.5284 USD
Common	Buy Transaction	438	53.5311 USD
Common	Buy Transaction	1,232	53.5321 USD
Common	Buy Transaction	540	53.5400 USD
Common	Buy Transaction	37	53.5611 USD
Common	Buy Transaction	2	53.5650 USD
Common	Buy Transaction	600	53.5717 USD
Common	Buy Transaction	137	53.5821 USD
Common	Buy Transaction	205	53.5854 USD
Common	Buy Transaction	1,932	53.5928 USD
Common	Buy Transaction	105	53.5932 USD
Common	Buy Transaction	696	53.5947 USD
Common	Buy Transaction	989	53.5961 USD
Common	Buy Transaction	4,826	53.6000 USD
Common	Buy Transaction	95	53.6038 USD
Common	Buy Transaction	19	53.6053 USD
Common	Buy Transaction	19	53.6063 USD
Common	Buy Transaction	251	53.6100 USD
Common	Buy Transaction	53	53.6151 USD
Common	Buy Transaction	69	53.6177 USD
Common	Buy Transaction	5	53.6200 USD
Common	Buy Transaction	649	53.6224 USD
Common	Buy Transaction	168	53.6274 USD
Common	Buy Transaction	5,714	53.6299 USD
Common	Buy Transaction	511	53.6363 USD
Common	Buy Transaction	477	53.6391 USD
Common	Buy Transaction	1	53.6400 USD
Common	Buy Transaction	49	53.6451 USD
Common	Buy Transaction	458	53.6454 USD
Common	Buy Transaction	60	53.6455 USD
Common	Buy Transaction	3,098	53.6460 USD
Common	Buy Transaction	2,297	53.6464 USD
Common	Buy Transaction	15	53.6500 USD
Common	Buy Transaction	3,693	53.6501 USD
Common	Buy Transaction	1,435	53.6564 USD
Common	Buy Transaction	789	53.6593 USD
Common	Buy Transaction	694	53.6607 USD
Common	Buy Transaction	4,473	53.6611 USD
Common	Buy Transaction	312	53.6615 USD
Common	Buy Transaction	81	53.6646 USD
Common	Buy Transaction	200	53.6653 USD
Common	Buy Transaction	2,291	53.6660 USD
Common	Buy Transaction	1,293	53.6686 USD
Common	Buy Transaction	106	53.6687 USD
Common	Buy Transaction	4,561	53.6759 USD
Common	Buy Transaction	10	53.6800 USD
Common	Buy Transaction	1,701	53.6821 USD
Common	Buy Transaction	8	53.6825 USD
Common	Buy Transaction	682	53.6853 USD
Common	Buy Transaction	883	53.6875 USD
Common	Buy Transaction	696	53.6901 USD
Common	Buy Transaction	471	53.6941 USD
Common	Buy Transaction	715	53.6953 USD
Common	Buy Transaction	838	53.6988 USD
Common	Buy Transaction	79	53.7000 USD
Common	Buy Transaction	1,148	53.7008 USD
Common	Buy Transaction	4,507	53.7032 USD
Common	Buy Transaction	10,100	53.7037 USD
Common	Buy Transaction	512	53.7038 USD
Common	Buy Transaction	1,956	53.7089 USD
Common	Buy Transaction	95	53.7100 USD
Common	Buy Transaction	104	53.7106 USD
Common	Buy Transaction	3,254	53.7112 USD
Common	Buy Transaction	2,757	53.7126 USD
Common	Buy Transaction	988	53.7184 USD
Common	Buy Transaction	39	53.7197 USD
Common	Buy Transaction	736	53.7206 USD
Common	Buy Transaction	408	53.7218 USD
Common	Buy Transaction	937	53.7227 USD
Common	Buy Transaction	225	53.7233 USD
Common	Buy Transaction	2,261	53.7273 USD
Common	Buy Transaction	5	53.7300 USD
Common	Buy Transaction	1,526	53.7343 USD
Common	Buy Transaction	686	53.7347 USD
Common	Buy Transaction	4,959	53.7423 USD
Common	Buy Transaction	1,419	53.7462 USD
Common	Buy Transaction	155	53.7500 USD
Common	Buy Transaction	7,095	53.7531 USD
Common	Buy Transaction	300	53.7533 USD
Common	Buy Transaction	70	53.7571 USD
Common	Buy Transaction	87	53.7582 USD
Common	Buy Transaction	13,670	53.7584 USD
Common	Buy Transaction	2	53.7600 USD
Common	Buy Transaction	950	53.7650 USD
Common	Buy Transaction	204	53.7691 USD
Common	Buy Transaction	200	53.7723 USD
Common	Buy Transaction	43	53.7753 USD
Common	Buy Transaction	1,839	53.7827 USD
Common	Buy Transaction	80	53.7844 USD
Common	Buy Transaction	384	53.7852 USD
Common	Buy Transaction	1,814	53.8098 USD
Common	Buy Transaction	28	53.8100 USD
Common	Buy Transaction	209	53.8115 USD
Common	Buy Transaction	150	53.8200 USD
Common	Buy Transaction	955	53.8225 USD
Common	Buy Transaction	18	53.8244 USD
Common	Buy Transaction	4,250	53.8270 USD
Common	Buy Transaction	1,003	53.8276 USD
Common	Buy Transaction	5	53.8280 USD
Common	Buy Transaction	22	53.8286 USD
Common	Buy Transaction	106	53.8300 USD
Common	Buy Transaction	430	53.8325 USD
Common	Buy Transaction	108	53.8369 USD
Common	Buy Transaction	114	53.8375 USD
Common	Buy Transaction	672	53.8387 USD
Common	Buy Transaction	70,224	53.8400 USD
Common	Buy Transaction	7	53.8471 USD
Common	Buy Transaction	99	53.8500 USD
Common	Buy Transaction	436	53.8548 USD
Common	Buy Transaction	855	53.8553 USD
Common	Buy Transaction	242	53.8554 USD
Common	Buy Transaction	136	53.8576 USD
Common	Buy Transaction	24	53.8583 USD
Common	Buy Transaction	526	53.8598 USD
Common	Buy Transaction	199	53.8600 USD
Common	Buy Transaction	160	53.8614 USD
Common	Buy Transaction	90	53.8616 USD
Common	Buy Transaction	5	53.8650 USD
Common	Buy Transaction	890	53.8700 USD
Common	Buy Transaction	7	53.8736 USD
Common	Buy Transaction	100	53.8750 USD
Common	Buy Transaction	129	53.8777 USD
Common	Buy Transaction	2,540	53.8799 USD
Common	Buy Transaction	292	53.8800 USD
Common	Buy Transaction	3,900	53.8805 USD
Common	Buy Transaction	472	53.8813 USD
Common	Buy Transaction	28	53.8839 USD
Common	Buy Transaction	84	53.8842 USD
Common	Buy Transaction	1,233	53.8890 USD
Common	Buy Transaction	309	53.8900 USD
Common	Buy Transaction	171	53.9000 USD
Common	Buy Transaction	10,175	53.9000 USD
Common	Buy Transaction	2	53.9050 USD
Common	Buy Transaction	38	53.9095 USD
Common	Buy Transaction	134	53.9100 USD
Common	Buy Transaction	35	53.9106 USD
Common	Buy Transaction	447	53.9129 USD
Common	Buy Transaction	2,678	53.9130 USD
Common	Buy Transaction	11	53.9155 USD
Common	Buy Transaction	959	53.9163 USD
Common	Buy Transaction	124	53.9200 USD
Common	Buy Transaction	40	53.9205 USD
Common	Buy Transaction	33	53.9252 USD
Common	Buy Transaction	23	53.9300 USD
Common	Buy Transaction	1,074	53.9328 USD
Common	Buy Transaction	208	53.9337 USD
Common	Buy Transaction	99	53.9350 USD
Common	Buy Transaction	146	53.9380 USD
Common	Buy Transaction	116	53.9397 USD
Common	Buy Transaction	34	53.9400 USD
Common	Buy Transaction	2,535	53.9413 USD
Common	Buy Transaction	872	53.9414 USD
Common	Buy Transaction	473	53.9416 USD
Common	Buy Transaction	61	53.9416 USD
Common	Buy Transaction	30	53.9433 USD
Common	Buy Transaction	447	53.9434 USD
Common	Buy Transaction	451	53.9437 USD
Common	Buy Transaction	374	53.9457 USD
Common	Buy Transaction	365	53.9473 USD
Common	Buy Transaction	604	53.9488 USD
Common	Buy Transaction	72	53.9519 USD
Common	Buy Transaction	69	53.9549 USD
Common	Buy Transaction	210	53.9600 USD
Common	Buy Transaction	9	53.9611 USD
Common	Buy Transaction	630	53.9617 USD
Common	Buy Transaction	416	53.9644 USD
Common	Buy Transaction	832	53.9646 USD
Common	Buy Transaction	894	53.9672 USD
Common	Buy Transaction	55	53.9700 USD
Common	Buy Transaction	180	53.9792 USD
Common	Buy Transaction	206	53.9800 USD
Common	Buy Transaction	320	53.9851 USD
Common	Buy Transaction	800	53.9862 USD
Common	Buy Transaction	409	53.9900 USD
Common	Buy Transaction	104	53.9904 USD
Common	Buy Transaction	371	53.9904 USD
Common	DVP Transaction	14	53.1250 USD
Common	DVP Transaction	90	53.1550 USD
Common	DVP Transaction	13	53.2600 USD
Common	DVP Transaction	96	53.2650 USD
Common	DVP Transaction	147	53.2687 USD
Common	DVP Transaction	56	53.2800 USD
Common	DVP Transaction	92	53.2900 USD
Common	DVP Transaction	43	53.3000 USD
Common	DVP Transaction	91	53.3100 USD
Common	DVP Transaction	48	53.3200 USD
Common	DVP Transaction	55	53.3351 USD
Common	DVP Transaction	6	53.3500 USD
Common	DVP Transaction	78	53.4000 USD
Common	DVP Transaction	50	53.4100 USD
Common	DVP Transaction	15	53.4200 USD
Common	DVP Transaction	5	53.4300 USD
Common	DVP Transaction	55	53.4351 USD
Common	DVP Transaction	40	53.4550 USD
Common	DVP Transaction	14	53.4600 USD
Common	DVP Transaction	684	53.5000 USD
Common	DVP Transaction	201	53.5018 USD
Common	DVP Transaction	59	53.5100 USD
Common	DVP Transaction	55	53.5200 USD
Common	DVP Transaction	55	53.5300 USD
Common	DVP Transaction	14	53.5400 USD
Common	DVP Transaction	704	53.5464 USD
Common	DVP Transaction	6	53.5600 USD
Common	DVP Transaction	90	53.5750 USD
Common	DVP Transaction	5	53.5800 USD
Common	DVP Transaction	1	53.5900 USD
Common	DVP Transaction	90	53.6000 USD
Common	DVP Transaction	1	53.6050 USD
Common	DVP Transaction	178	53.6300 USD
Common	DVP Transaction	90	53.6450 USD
Common	DVP Transaction	1,169	53.6736 USD
Common	DVP Transaction	3	53.7000 USD
Common	DVP Transaction	105	53.7245 USD
Common	DVP Transaction	90	53.7400 USD
Common	DVP Transaction	1,464	53.7645 USD
Common	DVP Transaction	1	53.8300 USD
Common	DVP Transaction	20,747	53.8400 USD
Common	DVP Transaction	2	53.8450 USD
Common	DVP Transaction	1	53.8600 USD
Common	DVP Transaction	5	53.8740 USD
Common	DVP Transaction	9	53.8800 USD
Common	DVP Transaction	2	53.9000 USD
Common	DVP Transaction	2	53.9150 USD
Common	DVP Transaction	124	53.9200 USD
Common	DVP Transaction	8	53.9263 USD
Common	DVP Transaction	2	53.9300 USD
Common	DVP Transaction	2	53.9650 USD
Common	DVP Transaction	1	53.9700 USD
Common	DVP Transaction	5	53.9760 USD
Common	RVP Transaction	14	53.1250 USD
Common	RVP Transaction	47	53.2638 USD
Common	RVP Transaction	218	53.2743 USD
Common	RVP Transaction	30	53.3000 USD
Common	RVP Transaction	45	53.3200 USD
Common	RVP Transaction	139	53.3468 USD
Common	RVP Transaction	2	53.4200 USD
Common	RVP Transaction	136	53.4273 USD
Common	RVP Transaction	99	53.4568 USD
Common	RVP Transaction	940	53.4847 USD
Common	RVP Transaction	45	53.5000 USD
Common	RVP Transaction	186	53.5035 USD
Common	RVP Transaction	402	53.5075 USD
Common	RVP Transaction	157	53.5382 USD
Common	RVP Transaction	14	53.5400 USD
Common	RVP Transaction	149	53.5630 USD
Common	RVP Transaction	4	53.5800 USD
Common	RVP Transaction	592	53.5861 USD
Common	RVP Transaction	1	53.5900 USD
Common	RVP Transaction	132	53.5925 USD
Common	RVP Transaction	99	53.6000 USD
Common	RVP Transaction	1	53.6050 USD
Common	RVP Transaction	34	53.6200 USD
Common	RVP Transaction	262	53.6246 USD
Common	RVP Transaction	477	53.6298 USD
Common	RVP Transaction	33	53.6300 USD
Common	RVP Transaction	6	53.6483 USD
Common	RVP Transaction	71	53.6562 USD
Common	RVP Transaction	239	53.6816 USD
Common	RVP Transaction	130	53.6900 USD
Common	RVP Transaction	306	53.7392 USD
Common	RVP Transaction	66	53.7500 USD
Common	RVP Transaction	233	53.7543 USD
Common	RVP Transaction	290	53.7606 USD
Common	RVP Transaction	209	53.7697 USD
Common	RVP Transaction	66	53.7800 USD
Common	RVP Transaction	168	53.8062 USD
Common	RVP Transaction	20,568	53.8400 USD
Common	RVP Transaction	36	53.8622 USD
Common	RVP Transaction	31	53.9171 USD
Common	RVP Transaction	124	53.9200 USD
Common	RVP Transaction	33	53.9400 USD
Common	RVP Transaction	34	53.9538 USD
Common	RVP Transaction	1	53.9700 USD
Common	RVP Transaction	66	53.9900 USD
Common	RVP Transaction	48	54.0200 USD
Common	Sell Transaction	86	53.1096 USD
Common	Sell Transaction	1,453	53.1229 USD
Common	Sell Transaction	16	53.1500 USD
Common	Sell Transaction	234	53.1900 USD
Common	Sell Transaction	373	53.2000 USD
Common	Sell Transaction	200	53.2100 USD
Common	Sell Transaction	300	53.2250 USD
Common	Sell Transaction	15	53.2500 USD
Common	Sell Transaction	1,000	53.2540 USD
Common	Sell Transaction	600	53.2600 USD
Common	Sell Transaction	68	53.2800 USD
Common	Sell Transaction	4	53.2900 USD
Common	Sell Transaction	121	53.3100 USD
Common	Sell Transaction	93,164	53.3175 USD
Common	Sell Transaction	20	53.3200 USD
Common	Sell Transaction	53	53.3298 USD
Common	Sell Transaction	536	53.3350 USD
Common	Sell Transaction	102	53.3418 USD
Common	Sell Transaction	45	53.3500 USD
Common	Sell Transaction	24	53.3550 USD
Common	Sell Transaction	60	53.3640 USD
Common	Sell Transaction	57	53.3700 USD
Common	Sell Transaction	1,820	53.3793 USD
Common	Sell Transaction	13	53.3808 USD
Common	Sell Transaction	5	53.3960 USD
Common	Sell Transaction	126	53.4100 USD
Common	Sell Transaction	1,221	53.4102 USD
Common	Sell Transaction	1,002	53.4200 USD
Common	Sell Transaction	300	53.4300 USD
Common	Sell Transaction	1	53.4350 USD
Common	Sell Transaction	100	53.4400 USD
Common	Sell Transaction	55	53.4551 USD
Common	Sell Transaction	1	53.4600 USD
Common	Sell Transaction	3	53.4612 USD
Common	Sell Transaction	3	53.4612 USD
Common	Sell Transaction	10	53.4700 USD
Common	Sell Transaction	200	53.4800 USD
Common	Sell Transaction	221	53.4816 USD
Common	Sell Transaction	0	53.4855 USD
Common	Sell Transaction	42	53.4950 USD
Common	Sell Transaction	115	53.5000 USD
Common	Sell Transaction	64	53.5079 USD
Common	Sell Transaction	684	53.5201 USD
Common	Sell Transaction	373	53.5226 USD
Common	Sell Transaction	14	53.5400 USD
Common	Sell Transaction	100	53.5500 USD
Common	Sell Transaction	3	53.5600 USD
Common	Sell Transaction	101	53.5646 USD
Common	Sell Transaction	1	53.5700 USD
Common	Sell Transaction	6	53.5717 USD
Common	Sell Transaction	222	53.5757 USD
Common	Sell Transaction	3	53.5767 USD
Common	Sell Transaction	276	53.5767 USD
Common	Sell Transaction	1,257	53.5826 USD
Common	Sell Transaction	96	53.5850 USD
Common	Sell Transaction	1,146	53.5890 USD
Common	Sell Transaction	500	53.5900 USD
Common	Sell Transaction	4,177	53.5905 USD
Common	Sell Transaction	75	53.5971 USD
Common	Sell Transaction	48	53.6000 USD
Common	Sell Transaction	446	53.6014 USD
Common	Sell Transaction	194	53.6041 USD
Common	Sell Transaction	1,425	53.6080 USD
Common	Sell Transaction	9	53.6089 USD
Common	Sell Transaction	442	53.6093 USD
Common	Sell Transaction	960	53.6119 USD
Common	Sell Transaction	18	53.6133 USD
Common	Sell Transaction	300	53.6200 USD
Common	Sell Transaction	11,147	53.6215 USD
Common	Sell Transaction	386	53.6255 USD
Common	Sell Transaction	3,841	53.6284 USD
Common	Sell Transaction	655	53.6288 USD
Common	Sell Transaction	225	53.6300 USD
Common	Sell Transaction	57	53.6340 USD
Common	Sell Transaction	575	53.6356 USD
Common	Sell Transaction	2	53.6400 USD
Common	Sell Transaction	646	53.6403 USD
Common	Sell Transaction	17	53.6406 USD
Common	Sell Transaction	2,368	53.6425 USD
Common	Sell Transaction	274	53.6428 USD
Common	Sell Transaction	4	53.6450 USD
Common	Sell Transaction	102	53.6500 USD
Common	Sell Transaction	4,150	53.6525 USD
Common	Sell Transaction	3,588	53.6537 USD
Common	Sell Transaction	823	53.6544 USD
Common	Sell Transaction	1,365	53.6696 USD
Common	Sell Transaction	13	53.6731 USD
Common	Sell Transaction	522	53.6742 USD
Common	Sell Transaction	2,100	53.6743 USD
Common	Sell Transaction	1,355	53.6756 USD
Common	Sell Transaction	855	53.6850 USD
Common	Sell Transaction	8	53.6887 USD
Common	Sell Transaction	5,200	53.6940 USD
Common	Sell Transaction	143	53.6941 USD
Common	Sell Transaction	367	53.6967 USD
Common	Sell Transaction	108	53.6986 USD
Common	Sell Transaction	202	53.7000 USD
Common	Sell Transaction	22	53.7009 USD
Common	Sell Transaction	9	53.7078 USD
Common	Sell Transaction	111	53.7086 USD
Common	Sell Transaction	758	53.7135 USD
Common	Sell Transaction	15,075	53.7166 USD
Common	Sell Transaction	25	53.7184 USD
Common	Sell Transaction	163	53.7200 USD
Common	Sell Transaction	5,452	53.7200 USD
Common	Sell Transaction	226	53.7232 USD
Common	Sell Transaction	73	53.7336 USD
Common	Sell Transaction	2,499	53.7362 USD
Common	Sell Transaction	671	53.7372 USD
Common	Sell Transaction	298	53.7378 USD
Common	Sell Transaction	73	53.7388 USD
Common	Sell Transaction	200	53.7400 USD
Common	Sell Transaction	259	53.7429 USD
Common	Sell Transaction	1,131	53.7451 USD
Common	Sell Transaction	642	53.7471 USD
Common	Sell Transaction	52	53.7481 USD
Common	Sell Transaction	1,600	53.7496 USD
Common	Sell Transaction	50	53.7500 USD
Common	Sell Transaction	200	53.7525 USD
Common	Sell Transaction	262	53.7538 USD
Common	Sell Transaction	100	53.7550 USD
Common	Sell Transaction	0	53.7657 USD
Common	Sell Transaction	2,533	53.7697 USD
Common	Sell Transaction	1,252	53.7702 USD
Common	Sell Transaction	3,932	53.7807 USD
Common	Sell Transaction	268	53.7857 USD
Common	Sell Transaction	119	53.7886 USD
Common	Sell Transaction	3,142	53.7893 USD
Common	Sell Transaction	52	53.7913 USD
Common	Sell Transaction	400	53.7925 USD
Common	Sell Transaction	319	53.7941 USD
Common	Sell Transaction	400	53.7950 USD
Common	Sell Transaction	2,393	53.7972 USD
Common	Sell Transaction	334	53.8031 USD
Common	Sell Transaction	490	53.8042 USD
Common	Sell Transaction	6,005	53.8052 USD
Common	Sell Transaction	998	53.8115 USD
Common	Sell Transaction	877	53.8122 USD
Common	Sell Transaction	378	53.8200 USD
Common	Sell Transaction	2,326	53.8210 USD
Common	Sell Transaction	1,504	53.8239 USD
Common	Sell Transaction	822	53.8241 USD
Common	Sell Transaction	2,453	53.8241 USD
Common	Sell Transaction	2,373	53.8270 USD
Common	Sell Transaction	517	53.8270 USD
Common	Sell Transaction	356	53.8274 USD
Common	Sell Transaction	14	53.8279 USD
Common	Sell Transaction	594	53.8388 USD
Common	Sell Transaction	68,474	53.8400 USD
Common	Sell Transaction	12	53.8425 USD
Common	Sell Transaction	276	53.8441 USD
Common	Sell Transaction	3,249	53.8460 USD
Common	Sell Transaction	57	53.8491 USD
Common	Sell Transaction	51	53.8500 USD
Common	Sell Transaction	660	53.8512 USD
Common	Sell Transaction	18	53.8528 USD
Common	Sell Transaction	309	53.8529 USD
Common	Sell Transaction	93	53.8548 USD
Common	Sell Transaction	41	53.8551 USD
Common	Sell Transaction	2,230	53.8561 USD
Common	Sell Transaction	1,037	53.8579 USD
Common	Sell Transaction	598	53.8582 USD
Common	Sell Transaction	463	53.8603 USD
Common	Sell Transaction	1,017	53.8614 USD
Common	Sell Transaction	187	53.8618 USD
Common	Sell Transaction	421	53.8620 USD
Common	Sell Transaction	47	53.8628 USD
Common	Sell Transaction	1,598	53.8644 USD
Common	Sell Transaction	10	53.8700 USD
Common	Sell Transaction	202	53.8700 USD
Common	Sell Transaction	739	53.8705 USD
Common	Sell Transaction	499	53.8706 USD
Common	Sell Transaction	321	53.8709 USD
Common	Sell Transaction	218	53.8736 USD
Common	Sell Transaction	407	53.8740 USD
Common	Sell Transaction	5,795	53.8747 USD
Common	Sell Transaction	180	53.8772 USD
Common	Sell Transaction	766	53.8775 USD
Common	Sell Transaction	220	53.8800 USD
Common	Sell Transaction	24	53.8833 USD
Common	Sell Transaction	400	53.8850 USD
Common	Sell Transaction	142	53.8896 USD
Common	Sell Transaction	205	53.8898 USD
Common	Sell Transaction	576	53.8935 USD
Common	Sell Transaction	179	53.8963 USD
Common	Sell Transaction	200	53.9000 USD
Common	Sell Transaction	857	53.9017 USD
Common	Sell Transaction	722	53.9047 USD
Common	Sell Transaction	1,621	53.9089 USD
Common	Sell Transaction	434	53.9100 USD
Common	Sell Transaction	443	53.9133 USD
Common	Sell Transaction	54	53.9133 USD
Common	Sell Transaction	126	53.9161 USD
Common	Sell Transaction	704	53.9167 USD
Common	Sell Transaction	178	53.9213 USD
Common	Sell Transaction	59	53.9225 USD
Common	Sell Transaction	1,005	53.9257 USD
Common	Sell Transaction	402	53.9300 USD
Common	Sell Transaction	32	53.9312 USD
Common	Sell Transaction	77	53.9316 USD
Common	Sell Transaction	203	53.9339 USD
Common	Sell Transaction	90	53.9340 USD
Common	Sell Transaction	752	53.9365 USD
Common	Sell Transaction	791	53.9369 USD
Common	Sell Transaction	708	53.9375 USD
Common	Sell Transaction	317	53.9400 USD
Common	Sell Transaction	43	53.9470 USD
Common	Sell Transaction	542	53.9491 USD
Common	Sell Transaction	147	53.9496 USD
Common	Sell Transaction	333	53.9499 USD
Common	Sell Transaction	2	53.9500 USD
Common	Sell Transaction	6	53.9533 USD
Common	Sell Transaction	682	53.9588 USD
Common	Sell Transaction	13	53.9592 USD
Common	Sell Transaction	7	53.9600 USD
Common	Sell Transaction	416	53.9644 USD
Common	Sell Transaction	191	53.9667 USD
Common	Sell Transaction	765	53.9681 USD
Common	Sell Transaction	302	53.9700 USD
Common	Sell Transaction	36	53.9746 USD
Common	Sell Transaction	395	53.9771 USD
Common	Sell Transaction	90	53.9791 USD
Common	Sell Transaction	5	53.9800 USD
Common	Sell Transaction	63	53.9844 USD
Common	Sell Transaction	101	53.9871 USD
Common	Sell Transaction	337	53.9880 USD
Common	Sell Transaction	412	53.9900 USD
Common	Sell Transaction	100	53.9910 USD
Common	Sell Transaction	1,201	53.9941 USD
Common	Sell Transaction	400	53.9950 USD
Common	Sell Transaction	190	54.0026 USD
Common	Sell Transaction	301	54.0064 USD
Common	Sell Transaction	2	54.0300 USD
Common	Sell Transaction	18	54.0311 USD
Common	Sell Transaction	109	54.0400 USD
Common	Sell Transaction	264	54.0584 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	Call Option	Buy Transaction	4	55.0000 USD	American	2024-Dec-20	0.0900 USD
Common	Call Option	Buy Transaction	1	59.0000 USD	American	2025-Jan-10	0.1300 USD
Common	Call Option	Buy Transaction	1	60.0000 USD	American	2025-Jan-17	0.2000 USD
Common	Call Option	Buy Transaction	10	60.0000 USD	American	2025-Jan-17	0.2400 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2024-Dec-27	0.2500 USD
Common	Call Option	Buy Transaction	3	60.0000 USD	American	2025-Jan-17	0.2600 USD
Common	Call Option	Buy Transaction	7	60.0000 USD	American	2025-Jan-17	0.2700 USD
Common	Put Option	Buy Transaction	2	54.0000 USD	American	2024-Dec-20	0.4000 USD
Common	Call Option	Buy Transaction	1	58.0000 USD	American	2025-Jan-24	0.5200 USD
Common	Call Option	Buy Transaction	1	59.0000 USD	American	2025-Jan-31	0.5500 USD
Common	Call Option	Buy Transaction	2	56.0000 USD	American	2025-Jan-10	0.6200 USD
Common	Put Option	Buy Transaction	1	49.0000 USD	American	2025-Jan-24	0.6400 USD
Common	Call Option	Buy Transaction	1	57.5000 USD	American	2025-Jan-17	0.6600 USD
Common	Call Option	Buy Transaction	1	60.0000 USD	American	2025-Feb-21	0.7500 USD
Common	Put Option	Buy Transaction	1	54.0000 USD	American	2024-Dec-27	0.8500 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2025-Jan-17	1.1400 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2025-Jan-17	1.2000 USD
Common	Call Option	Buy Transaction	3	57.5000 USD	American	2025-Feb-21	1.2400 USD
Common	Call Option	Buy Transaction	2	57.5000 USD	American	2025-Feb-21	1.2500 USD
Common	Call Option	Buy Transaction	8	57.5000 USD	American	2025-Feb-21	1.3000 USD
Common	Call Option	Buy Transaction	2	57.5000 USD	American	2025-Feb-21	1.3500 USD
Common	Call Option	Buy Transaction	1	60.0000 USD	American	2025-Apr-17	1.3700 USD
Common	Put Option	Buy Transaction	1	52.0000 USD	American	2025-Jan-31	1.3800 USD
Common	Put Option	Buy Transaction	2	54.0000 USD	American	2025-Jan-10	1.4000 USD
Common	Call Option	Buy Transaction	1	60.0000 USD	American	2025-Apr-17	1.5600 USD
Common	Call Option	Buy Transaction	2	60.0000 USD	American	2025-Apr-17	1.5800 USD
Common	Call Option	Buy Transaction	2	55.0000 USD	American	2025-Apr-17	2.0000 USD
Common	Call Option	Buy Transaction	2	55.0000 USD	American	2025-Feb-21	2.0500 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2025-Feb-21	2.0700 USD
Common	Put Option	Buy Transaction	10	52.5000 USD	American	2025-Feb-21	2.1000 USD
Common	Put Option	Buy Transaction	2	55.0000 USD	American	2025-Jan-17	2.2000 USD
Common	Call Option	Buy Transaction	3	57.5000 USD	American	2025-Apr-17	2.2000 USD
Common	Call Option	Buy Transaction	4	55.0000 USD	American	2025-Feb-21	2.2000 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2025-Feb-21	2.2500 USD
Common	Call Option	Buy Transaction	4	55.0000 USD	American	2025-Feb-21	2.3000 USD
Common	Call Option	Buy Transaction	2	57.5000 USD	American	2025-Jun-20	2.6500 USD
Common	Call Option	Buy Transaction	5	57.5000 USD	American	2025-Jul-18	3.0500 USD
Common	Call Option	Buy Transaction	10	57.5000 USD	American	2025-Sep-19	3.4000 USD
Common	Put Option	Buy Transaction	3	55.0000 USD	American	2025-Feb-21	3.4100 USD
Common	Call Option	Buy Transaction	1	50.0000 USD	American	2024-Dec-20	3.4200 USD
Common	Call Option	Buy Transaction	2	55.0000 USD	American	2025-Jun-20	3.6000 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2025-Jun-20	3.9000 USD
Common	Call Option	Buy Transaction	3	67.5000 USD	American	2027-Jan-15	3.9000 USD
Common	Put Option	Buy Transaction	10	57.5000 USD	American	2025-Jan-17	3.9900 USD
Common	Call Option	Buy Transaction	6	52.5000 USD	American	2025-Apr-17	4.5800 USD
Common	Call Option	Buy Transaction	1	40.0000 USD	American	2026-Jan-16	15.0000 USD
Common	Put Option	Sell Transaction	9	45.0000 USD	American	2025-Jan-17	0.1500 USD
Common	Put Option	Sell Transaction	1	53.0000 USD	American	2024-Dec-20	0.2500 USD
Common	Call Option	Sell Transaction	1	58.0000 USD	American	2025-Jan-10	0.2500 USD
Common	Call Option	Sell Transaction	10	60.0000 USD	American	2025-Jan-17	0.2800 USD
Common	Call Option	Sell Transaction	1	59.0000 USD	American	2025-Jan-24	0.4000 USD
Common	Put Option	Sell Transaction	1	48.0000 USD	American	2025-Jan-24	0.4700 USD
Common	Call Option	Sell Transaction	2	58.0000 USD	American	2025-Jan-24	0.5800 USD
Common	Put Option	Sell Transaction	5	50.0000 USD	American	2025-Jan-17	0.6500 USD
Common	Call Option	Sell Transaction	340	55.0000 USD	American	2025-Jan-17	1.1500 USD
Common	Put Option	Sell Transaction	10	52.5000 USD	American	2025-Jan-17	1.2000 USD
Common	Put Option	Sell Transaction	4	52.5000 USD	American	2025-Jan-17	1.2500 USD
Common	Call Option	Sell Transaction	4	55.0000 USD	American	2025-Jan-17	1.3000 USD
Common	Put Option	Sell Transaction	2	40.0000 USD	American	2026-Jan-16	1.6000 USD
Common	Put Option	Sell Transaction	2	52.5000 USD	American	2025-Feb-21	2.1000 USD
Common	Call Option	Sell Transaction	10	60.0000 USD	American	2025-Jul-18	2.1300 USD
Common	Call Option	Sell Transaction	3	55.0000 USD	American	2025-Feb-21	2.1500 USD
Common	Put Option	Sell Transaction	1	52.5000 USD	American	2025-Feb-21	2.2000 USD
Common	Call Option	Sell Transaction	1	52.5000 USD	American	2025-Jan-17	2.3300 USD
Common	Call Option	Sell Transaction	1	52.5000 USD	American	2025-Jan-17	2.5000 USD
Common	Call Option	Sell Transaction	1	52.5000 USD	American	2025-Jan-17	2.5500 USD
Common	Put Option	Sell Transaction	2	47.5000 USD	American	2025-Sep-19	2.5500 USD
Common	Put Option	Sell Transaction	2	50.0000 USD	American	2025-Sep-19	3.4000 USD
Common	Call Option	Sell Transaction	3	50.0000 USD	American	2024-Dec-20	3.5000 USD
Common	Call Option	Sell Transaction	2	57.5000 USD	American	2025-Sep-19	3.6000 USD
Common	Call Option	Sell Transaction	10	57.5000 USD	American	2025-Oct-17	3.9000 USD
Common	Put Option	Sell Transaction	3	57.5000 USD	American	2025-Jan-17	4.3900 USD
Common	Put Option	Sell Transaction	2	52.5000 USD	American	2025-Sep-19	4.4000 USD
Common	Call Option	Sell Transaction	6	50.0000 USD	American	2025-Jan-17	4.7200 USD
Common	Call Option	Sell Transaction	1	57.5000 USD	American	2026-Jan-16	4.9000 USD
Common	Put Option	Sell Transaction	2	52.5000 USD	American	2026-Jan-16	5.4000 USD
Common	Put Option	Sell Transaction	1	59.0000 USD	American	2025-Jan-03	6.0000 USD
Common	Put Option	Sell Transaction	1	60.0000 USD	American	2025-Jan-17	6.5000 USD
Common	Put Option	Sell Transaction	1	55.0000 USD	American	2026-Jan-16	6.5000 USD
Common	Put Option	Sell Transaction	2	60.0000 USD	American	2025-Jan-17	6.5200 USD
Common	Call Option	Sell Transaction	3	47.5000 USD	American	2025-Jan-17	7.0000 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:	20 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 [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	-200	40.0 USD	American	20/06/2025
Common	Call Option	Purchased	600	30.0 USD	American	15/01/2027
Common	Call Option	Purchased	700	65.0 USD	American	19/09/2025
Common	Call Option	Purchased	100	62.0 USD	American	20/12/2024
Common	Call Option	Purchased	3,000	51.0 USD	American	27/12/2024
Common	Call Option	Purchased	300	67.5 USD	American	15/01/2027
Common	Call Option	Purchased	700	57.5 USD	American	17/10/2025
Common	Put Option	Purchased	-22,900	52.5 USD	American	19/09/2025
Common	Call Option	Purchased	13,600	55.0 USD	American	17/01/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	13/10/2025
Common	Call Option	Purchased	800	57.0 USD	American	10/01/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	13/10/2025
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	Put Option	Purchased	-2,100	60.0 USD	American	17/01/2025
Common	Put Option	Purchased	-8,500	40.0 USD	American	16/01/2026
Common	Call Option	Purchased	1,700	61.0 USD	American	20/12/2024
Common	Put Option	Purchased	-700	42.5 USD	American	21/02/2025
Common	Call Option	Purchased	300	47.5 USD	American	17/01/2025
Common	Call Option	Purchased	24,900	65.0 USD	American	20/12/2024
Common	Put Option	Purchased	-100	45.0 USD	American	21/02/2025
Common	Put Option	Purchased	-7,400	58.0 USD	American	20/12/2024
Common	Call Option	Purchased	69,800	50.0 USD	American	17/01/2025
Common	Put Option	Purchased	-6,500	27.5 USD	American	17/01/2025
Common	Put Option	Purchased	-20,600	56.0 USD	American	24/01/2025
Common	Put Option	Purchased	-400	42.5 USD	American	17/04/2025
Common	Call Option	Purchased	40,800	52.5 USD	American	20/06/2025
Common	Put Option	Purchased	-200	57.0 USD	American	27/12/2024
Common	Put Option	Purchased	-3,700	56.0 USD	American	20/12/2024
Common	Call Option	Purchased	29,100	52.5 USD	American	20/12/2024
Common	Put Option	Purchased	-42,400	55.0 USD	American	27/12/2024
Common	Call Option	Purchased	100	56.0 USD	American	31/01/2025
Common	Put Option	Purchased	-7,100	50.0 USD	American	16/01/2026
Common	Call Option	Purchased	10,400	60.0 USD	American	17/04/2025
Common	Call Option	Purchased	59,600	55.0 USD	American	17/04/2025
Common	Put Option	Purchased	-4,000	32.5 USD	American	16/01/2026
Common	Call Option	Purchased	500	60.0 USD	American	18/07/2025
Common	Put Option	Purchased	-2,300	47.5 USD	American	20/12/2024
Common	Call Option	Purchased	500	40.0 USD	American	17/04/2025
Common	Put Option	Purchased	-5,400	17.5 USD	American	16/01/2026
Common	Call Option	Purchased	9,000	65.0 USD	American	17/04/2025
Common	Put Option	Purchased	-24,000	22.5 USD	American	17/01/2025
Common	Put Option	Purchased	-6,300	17.5 USD	American	17/01/2025
Common	Call Option	Purchased	400	59.0 USD	American	27/12/2024
Common	Put Option	Purchased	-500	20.0 USD	American	16/01/2026
Common	Call Option	Purchased	400	55.0 USD	American	15/01/2027
Common	Call Option	Purchased	1,700	32.5 USD	American	16/01/2026
Common	Call Option	Purchased	100	40.0 USD	American	20/06/2025
Common	Call Option	Purchased	3,300	55.0 USD	American	21/02/2025
Common	Call Option	Purchased	0	56.0 USD	American	10/01/2025
Common	Call Option	Purchased	2,600	60.0 USD	American	20/06/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	14/10/2025
Common	Call Option	Purchased	1,200	64.0 USD	American	20/12/2024
Common	Put Option	Purchased	-900	57.5 USD	American	20/12/2024
Common	Put Option	Purchased	-300	59.0 USD	American	20/12/2024
Common	Put Option	Purchased	-500	37.5 USD	American	20/06/2025
Common	Call Option	Purchased	500	62.0 USD	American	10/01/2025
Common	Call Option	Purchased	3,100	30.0 USD	American	16/01/2026
Common	Call Option	Purchased	100	32.5 USD	American	17/01/2025
Common	Call Option	Purchased	30,900	55.0 USD	American	17/10/2025
Common	Put Option	Purchased	-2,800	20.0 USD	American	17/01/2025
Common	Call Option	Purchased	800	57.5 USD	American	21/02/2025
Common	Put Option	Purchased	-200	25.0 USD	American	17/01/2025
Common	Call Option	Purchased	11,800	55.0 USD	American	16/01/2026
Common	Put Option	Purchased	-4,500	45.0 USD	American	20/06/2025
Common	Put Option	Purchased	-9,800	57.5 USD	American	17/01/2025
Common	Call Option	Purchased	900	52.5 USD	American	15/01/2027
Common	Call Option	Purchased	100	62.0 USD	American	03/01/2025
Common	Put Option	Purchased	-3,200	22.5 USD	American	17/01/2025
Common	Call Option	Purchased	2,500	55.0 USD	American	19/09/2025
Common	Put Option	Purchased	-100	49.0 USD	American	24/01/2025
Common	Put Option	Purchased	-100	35.0 USD	American	16/01/2026
Common	Call Option	Purchased	100	37.5 USD	American	20/06/2025
Common	Put Option	Purchased	-20,000	55.0 USD	American	16/01/2026
Common	Put Option	Purchased	-1,000	35.0 USD	American	17/10/2025
Common	Put Option	Purchased	-4,900	55.0 USD	American	24/01/2025
Common	Call Option	Purchased	300	45.0 USD	American	17/04/2025
Common	Call Option	Purchased	300	58.0 USD	American	24/01/2025
Common	Call Option	Purchased	20,400	27.5 USD	American	16/01/2026
Common	Put Option	Purchased	-11,500	55.0 USD	American	16/01/2026
Common	Call Option	Purchased	51,700	40.0 USD	American	17/01/2025
Common	Call Option	Purchased	100	65.0 USD	American	18/07/2025
Common	Call Option	Purchased	400	59.0 USD	American	10/01/2025
Common	Put Option	Purchased	-100	32.5 USD	American	17/01/2025
Common	Call Option	Purchased	1,000	52.0 USD	American	20/12/2024
Common	Call Option	Purchased	300	70.0 USD	American	15/01/2027
Common	Call Option	Purchased	5,100	67.5 USD	American	16/01/2026
Common	Put Option	Purchased	-1,100	52.0 USD	American	27/12/2024
Common	Call Option	Purchased	3,000	56.0 USD	American	20/12/2024
Common	Put Option	Purchased	-12,500	50.0 USD	American	16/01/2026
Common	Put Option	Purchased	-100	52.5 USD	American	17/10/2025
Common	Call Option	Purchased	0	54.0 USD	American	27/12/2024
Common	Put Option	Purchased	-100	37.5 USD	American	17/01/2025
Common	Call Option	Purchased	203,500	45.0 USD	American	17/01/2025
Common	Call Option	Purchased	5,900	37.5 USD	American	16/01/2026
Common	Call Option	Purchased	2,000	61.0 USD	American	10/01/2025
Common	Call Option	Purchased	700	50.0 USD	American	16/01/2026
Common	Put Option	Purchased	-600	57.0 USD	American	20/12/2024
Common	Call Option	Purchased	21,600	62.5 USD	American	17/01/2025
Common	Call Option	Purchased	12,800	57.5 USD	American	17/04/2025
Common	Call Option	Purchased	500	62.5 USD	American	20/06/2025
Common	Put Option	Purchased	-12,000	25.0 USD	American	17/01/2025
Common	Call Option	Purchased	100	59.0 USD	American	31/01/2025
Common	Call Option	Purchased	1,000	54.0 USD	American	31/01/2025
Common	Put Option	Purchased	-3,400	55.0 USD	American	17/01/2025
Common	Put Option	Purchased	-50,000	52.5 USD	American	16/01/2026
Common	Call Option	Purchased	300	60.0 USD	American	03/01/2025
Common	Call Option	Purchased	100	57.5 USD	American	18/07/2025
Common	Put Option	Purchased	-500	37.5 USD	American	19/09/2025
Common	Call Option	Purchased	100	35.0 USD	American	17/01/2025
Common	Call Option	Purchased	3,600	63.0 USD	American	20/12/2024
Common	Call Option	Purchased	1,900	57.5 USD	American	20/06/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	15/10/2025
Common	Call Option	Purchased	2,100	52.5 USD	American	17/04/2025
Common	Put Option	Purchased	-100	52.0 USD	American	31/01/2025
Common	Call Option	Purchased	59,500	52.5 USD	American	17/01/2025
Common	Call Option	Purchased	500	58.0 USD	American	03/01/2025
Common	Call Option	Purchased	12,600	57.0 USD	American	20/12/2024
Common	Call Option	Purchased	200	50.0 USD	American	20/12/2024
Common	Call Option	Purchased	300	55.0 USD	American	18/07/2025
Common	Call Option	Purchased	100	67.5 USD	American	17/04/2025
Common	Put Option	Purchased	-300	42.5 USD	American	20/12/2024
Common	Call Option	Purchased	6,700	35.0 USD	American	16/01/2026
Common	Put Option	Purchased	-200	54.0 USD	American	20/12/2024
Common	Call Option	Purchased	81,500	54.9 USD	European	15/10/2025
Common	Call Option	Purchased	18,600	57.5 USD	American	19/09/2025
Common	Put Option	Purchased	-1,200	15.0 USD	American	17/01/2025
Common	Call Option	Purchased	300	42.5 USD	American	20/06/2025
Common	Put Option	Purchased	-5,000	51.0 USD	American	03/01/2025
Common	Call Option	Purchased	500	53.0 USD	American	27/12/2024
Common	Call Option	Purchased	100	35.0 USD	American	15/01/2027
Common	Call Option	Purchased	200	30.0 USD	American	19/09/2025
Common	Put Option	Purchased	-33,200	50.0 USD	American	20/06/2025
Common	Call Option	Purchased	13,500	50.0 USD	American	20/06/2025
Common	Call Option	Purchased	700	52.5 USD	American	16/01/2026
Common	Put Option	Purchased	-200	50.0 USD	American	27/12/2024
Common	Call Option	Purchased	38,500	42.5 USD	American	17/01/2025
Common	Call Option	Purchased	400	60.0 USD	American	17/01/2025
Common	Call Option	Purchased	2,500	65.0 USD	American	20/06/2025
Common	Put Option	Purchased	-8,300	42.5 USD	American	17/01/2025
Common	Call Option	Purchased	2,400	65.0 USD	American	17/01/2025
Common	Call Option	Purchased	100	62.0 USD	American	27/12/2024
Common	Put Option	Purchased	-11,500	52.5 USD	American	20/12/2024
Common	Call Option	Purchased	22,200	52.5 USD	American	17/10/2025
Common	Call Option	Purchased	1,000	80.0 USD	American	16/01/2026
Common	Call Option	Purchased	28,900	52.5 USD	American	19/09/2025
Common	Call Option	Purchased	600	32.5 USD	American	15/01/2027
Common	Put Option	Purchased	-2,600	45.0 USD	American	19/09/2025
Common	Put Option	Purchased	-500	35.0 USD	American	18/07/2025
Common	Put Option	Purchased	-100	47.5 USD	American	17/10/2025
Common	Call Option	Purchased	200	62.5 USD	American	21/02/2025
Common	Call Option	Purchased	3,000	60.0 USD	American	24/01/2025
Common	Put Option	Purchased	-100	27.5 USD	American	17/01/2025
Common	Call Option	Purchased	100	61.0 USD	American	24/01/2025
Common	Put Option	Purchased	-28,000	58.0 USD	American	27/12/2024
Common	Put Option	Purchased	0	59.0 USD	American	27/12/2024
Common	Call Option	Purchased	6,100	57.5 USD	American	20/12/2024
Common	Put Option	Purchased	-700	40.0 USD	American	17/04/2025
Common	Call Option	Purchased	800	40.0 USD	American	15/01/2027
Common	Put Option	Purchased	-1,600	42.5 USD	American	20/06/2025
Common	Put Option	Purchased	-12,100	37.5 USD	American	17/01/2025
Common	Call Option	Purchased	5,900	55.0 USD	American	20/06/2025
Common	Call Option	Purchased	0	56.0 USD	American	03/01/2025
Common	Call Option	Purchased	1,900	50.0 USD	American	17/01/2025
Common	Call Option	Purchased	2,400	50.0 USD	American	15/01/2027
Common	Call Option	Purchased	2,400	40.0 USD	American	16/01/2026
Common	Put Option	Purchased	-500	52.5 USD	American	16/01/2026
Common	Call Option	Purchased	0	45.0 USD	American	17/10/2025
Common	Put Option	Purchased	-300	42.5 USD	American	19/09/2025
Common	Call Option	Purchased	500	60.0 USD	American	10/01/2025
Common	Call Option	Purchased	200	70.0 USD	American	17/01/2025
Common	Call Option	Purchased	3,600	70.0 USD	American	20/06/2025
Common	Put Option	Purchased	0	47.5 USD	American	15/01/2027
Common	Put Option	Purchased	-10,500	45.0 USD	American	17/10/2025
Common	Put Option	Purchased	0	57.0 USD	American	24/01/2025
Common	Put Option	Purchased	-3,400	50.0 USD	American	19/09/2025
Common	Call Option	Purchased	200	50.0 USD	American	19/09/2025
Common	Put Option	Purchased	-4,500	45.0 USD	American	17/04/2025
Common	Call Option	Purchased	500	67.5 USD	American	17/01/2025
Common	Call Option	Purchased	1,600	70.0 USD	American	17/04/2025
Common	Call Option	Purchased	100	55.0 USD	American	03/01/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	14/10/2025
Common	Put Option	Sold	500	54.0 USD	American	10/01/2025
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	Call Option	Sold	-1,400	60.0 USD	American	21/02/2025
Common	Put Option	Sold	100	62.5 USD	American	16/01/2026
Common	Put Option	Sold	16,200	32.5 USD	American	17/01/2025
Common	Call Option	Sold	-38,800	59.0 USD	American	20/12/2024
Common	Put Option	Sold	100	57.5 USD	American	20/06/2025
Common	Put Option	Sold	1,100	52.5 USD	American	21/02/2025
Common	Call Option	Sold	-10,100	50.0 USD	American	17/04/2025
Common	Put Option	Sold	200	59.0 USD	American	03/01/2025
Common	Call Option	Sold	-6,000	62.5 USD	American	17/04/2025
Common	Put Option	Sold	27,400	55.0 USD	American	20/12/2024
Common	Put Option	Sold	200	50.0 USD	American	17/04/2025
Common	Put Option	Sold	3,000	30.0 USD	American	16/01/2026
Common	Call Option	Sold	-200	50.0 USD	American	17/10/2025
Common	Put Option	Sold	2,700	42.5 USD	American	16/01/2026
Common	Call Option	Sold	-19,200	54.0 USD	American	20/12/2024
Common	Put Option	Sold	20,000	52.5 USD	American	17/04/2025
Common	Call Option	Sold	-400	37.5 USD	American	19/09/2025
Common	Call Option	Sold	-2,400	42.5 USD	American	16/01/2026
Common	Call Option	Sold	-100	54.0 USD	American	24/01/2025
Common	Put Option	Sold	3,000	62.5 USD	American	20/06/2025
Common	Call Option	Sold	-5,700	56.0 USD	American	27/12/2024
Common	Put Option	Sold	100	50.0 USD	American	20/12/2024
Common	Call Option	Sold	-700	60.0 USD	American	27/12/2024
Common	Call Option	Sold	-200	20.0 USD	American	17/01/2025
Common	Put Option	Sold	2,200	52.0 USD	American	03/01/2025
Common	Call Option	Sold	-2,000	42.5 USD	American	17/10/2025
Common	Put Option	Sold	100	53.0 USD	American	20/12/2024
Common	Call Option	Sold	-100	59.0 USD	American	24/01/2025
Common	Call Option	Sold	-200	57.0 USD	American	03/01/2025
Common	Call Option	Sold	-36,600	55.0 USD	American	20/12/2024
Common	Call Option	Sold	-2,200	47.5 USD	American	16/01/2026
Common	Put Option	Sold	153,900	40.0 USD	American	17/01/2025
Common	Put Option	Sold	3,000	62.5 USD	American	17/04/2025
Common	Put Option	Sold	4,400	54.0 USD	American	27/12/2024
Common	Call Option	Sold	-10,200	47.5 USD	American	17/04/2025
Common	Put Option	Sold	6,100	60.0 USD	American	20/06/2025
Common	Call Option	Sold	-4,200	42.5 USD	American	19/09/2025
Common	Put Option	Sold	16,900	50.0 USD	American	17/01/2025
Common	Put Option	Sold	600	60.0 USD	American	17/04/2025
Common	Put Option	Sold	1,200	57.0 USD	American	03/01/2025
Common	Put Option	Sold	1,500	55.0 USD	American	21/02/2025
Common	Call Option	Sold	-29,200	58.0 USD	American	10/01/2025
Common	Call Option	Sold	-64,700	55.0 USD	American	17/01/2025
Common	Put Option	Sold	300	52.5 USD	American	20/06/2025
Common	Call Option	Sold	-800	60.0 USD	American	19/09/2025
Common	Put Option	Sold	2,000	53.0 USD	American	03/01/2025
Common	Put Option	Sold	1,800	56.0 USD	American	03/01/2025
Common	Call Option	Sold	-200	59.0 USD	American	03/01/2025
Common	Put Option	Sold	4,800	25.0 USD	American	16/01/2026
Common	Put Option	Sold	400	55.0 USD	American	10/01/2025
Common	Put Option	Sold	9,900	47.5 USD	American	17/04/2025
Common	Call Option	Sold	-1,600	65.0 USD	American	17/10/2025
Common	Call Option	Sold	-2,500	47.5 USD	American	19/09/2025
Common	Call Option	Sold	-111,500	60.0 USD	American	17/01/2025
Common	Call Option	Sold	-2,600	45.0 USD	American	16/01/2026
Common	Put Option	Sold	1,100	50.0 USD	American	17/10/2025
Common	Call Option	Sold	-32,200	57.5 USD	American	17/01/2025
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	2,400	52.0 USD	American	10/01/2025
Common	Call Option	Sold	-1,500	58.0 USD	American	20/12/2024
Common	Put Option	Sold	40,900	45.0 USD	American	17/01/2025
Common	Call Option	Sold	-1,000	85.0 USD	American	16/01/2026
Common	Call Option	Sold	-100	52.5 USD	American	21/02/2025
Common	Put Option	Sold	200	65.0 USD	American	20/06/2025
Common	Put Option	Sold	100	50.0 USD	American	21/02/2025
Common	Put Option	Sold	1,600	53.0 USD	American	10/01/2025
Common	Put Option	Sold	21,800	55.0 USD	American	17/04/2025
Common	Call Option	Sold	-2,300	62.5 USD	American	20/12/2024
Common	Put Option	Sold	500	35.0 USD	American	15/01/2027
Common	Call Option	Sold	-200	30.0 USD	American	17/01/2025
Common	Call Option	Sold	-3,700	55.0 USD	American	10/01/2025
Common	Put Option	Sold	300	47.5 USD	American	20/06/2025
Common	Put Option	Sold	5,100	57.5 USD	American	16/01/2026
Common	Call Option	Sold	-100	51.0 USD	American	24/01/2025
Common	Put Option	Sold	200	55.0 USD	American	19/09/2025
Common	Put Option	Sold	700	47.5 USD	American	19/09/2025
Common	Call Option	Sold	-491,700	47.5 USD	American	17/01/2025
Common	Put Option	Sold	100	27.5 USD	American	16/01/2026
Common	Call Option	Sold	-400	56.0 USD	American	24/01/2025
Common	Put Option	Sold	3,600	45.0 USD	American	20/12/2024
Common	Put Option	Sold	6,800	55.0 USD	American	20/06/2025
Common	Call Option	Sold	-3,500	55.0 USD	American	27/12/2024
Common	Call Option	Sold	-5,000	37.5 USD	American	17/01/2025
Common	Put Option	Sold	100	60.0 USD	American	16/01/2026
Common	Put Option	Sold	100	48.0 USD	American	24/01/2025
Common	Call Option	Sold	-500	65.0 USD	American	16/01/2026
Common	Put Option	Sold	1,900	52.5 USD	American	17/01/2025
Common	Put Option	Sold	1,600	53.0 USD	American	27/12/2024
Common	Put Option	Sold	12,800	45.0 USD	American	16/01/2026
Common	Put Option	Sold	1,200	56.0 USD	American	27/12/2024
Common	Call Option	Sold	-96,200	60.0 USD	American	20/12/2024
Common	Put Option	Sold	100	35.0 USD	American	20/12/2024
Common	Put Option	Sold	100	51.0 USD	American	10/01/2025
Common	Put Option	Sold	29,100	35.0 USD	American	17/01/2025
Common	Put Option	Sold	300	47.5 USD	American	16/01/2026
Common	Call Option	Sold	-1,600	45.0 USD	American	20/12/2024
Common	Call Option	Sold	-8,800	45.0 USD	American	20/06/2025
Common	Call Option	Sold	-3,400	60.0 USD	American	16/01/2026
Common	Put Option	Sold	200	57.5 USD	American	18/07/2025
Common	Call Option	Sold	-7,900	70.0 USD	American	16/01/2026
Common	Call Option	Sold	-400	42.5 USD	American	17/04/2025
Common	Put Option	Sold	65,800	30.0 USD	American	17/01/2025
Common	Put Option	Sold	300	55.0 USD	American	18/07/2025
Common	Put Option	Sold	700	57.5 USD	American	21/02/2025
Common	Call Option	Sold	-1,100	57.5 USD	American	16/01/2026
Common	Call Option	Sold	-600	58.0 USD	American	27/12/2024
Common	Call Option	Sold	-800	47.5 USD	American	20/06/2025
Common	Call Option	Sold	-3,500	62.5 USD	American	16/01/2026
Common	Put Option	Sold	1,300	55.0 USD	American	03/01/2025
Common	Call Option	Sold	-100	75.0 USD	American	20/06/2025
Common	Put Option	Sold	48,600	47.5 USD	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 [phone].

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

 

END