Form 8.3 - International Paper Company

Citadel Group

30 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	27 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:	0	0.00	3,106,252	0.89
(2) Cash-settled derivatives:	0	0.00	0	0.00
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,637,400	0.47	1,261,700	0.36
TOTAL:	1,637,400	0.47	4,367,952	1.25

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	3	54.2800 USD
Common	Buy Transaction	41	54.3032 USD
Common	Buy Transaction	2	54.3100 USD
Common	Buy Transaction	99	54.3200 USD
Common	Buy Transaction	10	54.3300 USD
Common	Buy Transaction	110	54.3335 USD
Common	Buy Transaction	133	54.3344 USD
Common	Buy Transaction	102	54.3400 USD
Common	Buy Transaction	166	54.3482 USD
Common	Buy Transaction	338	54.3483 USD
Common	Buy Transaction	126	54.3578 USD
Common	Buy Transaction	112	54.3800 USD
Common	Buy Transaction	594	54.3871 USD
Common	Buy Transaction	32	54.3900 USD
Common	Buy Transaction	3	54.3967 USD
Common	Buy Transaction	336	54.3976 USD
Common	Buy Transaction	642	54.4025 USD
Common	Buy Transaction	336	54.4100 USD
Common	Buy Transaction	258	54.4100 USD
Common	Buy Transaction	392	54.4133 USD
Common	Buy Transaction	6	54.4150 USD
Common	Buy Transaction	981	54.4161 USD
Common	Buy Transaction	201	54.4164 USD
Common	Buy Transaction	139	54.4200 USD
Common	Buy Transaction	2	54.4250 USD
Common	Buy Transaction	1,004	54.4252 USD
Common	Buy Transaction	795	54.4300 USD
Common	Buy Transaction	788	54.4319 USD
Common	Buy Transaction	1,831	54.4347 USD
Common	Buy Transaction	200	54.4350 USD
Common	Buy Transaction	2,125	54.4354 USD
Common	Buy Transaction	428	54.4360 USD
Common	Buy Transaction	3,900	54.4373 USD
Common	Buy Transaction	56	54.4391 USD
Common	Buy Transaction	140	54.4400 USD
Common	Buy Transaction	7	54.4414 USD
Common	Buy Transaction	7,276	54.4435 USD
Common	Buy Transaction	82	54.4444 USD
Common	Buy Transaction	1,351	54.4489 USD
Common	Buy Transaction	130	54.4500 USD
Common	Buy Transaction	2,484	54.4505 USD
Common	Buy Transaction	679	54.4510 USD
Common	Buy Transaction	9	54.4511 USD
Common	Buy Transaction	843	54.4534 USD
Common	Buy Transaction	370	54.4535 USD
Common	Buy Transaction	20	54.4550 USD
Common	Buy Transaction	403	54.4584 USD
Common	Buy Transaction	1,259	54.4585 USD
Common	Buy Transaction	143	54.4590 USD
Common	Buy Transaction	25	54.4600 USD
Common	Buy Transaction	254	54.4614 USD
Common	Buy Transaction	401	54.4616 USD
Common	Buy Transaction	20	54.4620 USD
Common	Buy Transaction	699	54.4654 USD
Common	Buy Transaction	1,393	54.4659 USD
Common	Buy Transaction	118	54.4665 USD
Common	Buy Transaction	96	54.4700 USD
Common	Buy Transaction	1,895	54.4710 USD
Common	Buy Transaction	4	54.4725 USD
Common	Buy Transaction	9	54.4733 USD
Common	Buy Transaction	293	54.4746 USD
Common	Buy Transaction	1,324	54.4749 USD
Common	Buy Transaction	110	54.4769 USD
Common	Buy Transaction	199	54.4800 USD
Common	Buy Transaction	4,989	54.4806 USD
Common	Buy Transaction	536	54.4813 USD
Common	Buy Transaction	585	54.4886 USD
Common	Buy Transaction	21,418	54.4900 USD
Common	Buy Transaction	504	54.4906 USD
Common	Buy Transaction	185	54.4938 USD
Common	Buy Transaction	3,047	54.4940 USD
Common	Buy Transaction	195	54.4949 USD
Common	Buy Transaction	2	54.4950 USD
Common	Buy Transaction	2,534	54.4955 USD
Common	Buy Transaction	1,265	54.4955 USD
Common	Buy Transaction	4	54.4975 USD
Common	Buy Transaction	3,141	54.4998 USD
Common	Buy Transaction	1	54.5000 USD
Common	Buy Transaction	52	54.5033 USD
Common	Buy Transaction	3	54.5038 USD
Common	Buy Transaction	449	54.5047 USD
Common	Buy Transaction	1	54.5050 USD
Common	Buy Transaction	8,738	54.5063 USD
Common	Buy Transaction	105	54.5081 USD
Common	Buy Transaction	204	54.5100 USD
Common	Buy Transaction	46	54.5115 USD
Common	Buy Transaction	1,657	54.5116 USD
Common	Buy Transaction	222	54.5159 USD
Common	Buy Transaction	879	54.5170 USD
Common	Buy Transaction	5	54.5170 USD
Common	Buy Transaction	1	54.5200 USD
Common	Buy Transaction	977	54.5263 USD
Common	Buy Transaction	70	54.5286 USD
Common	Buy Transaction	154	54.5300 USD
Common	Buy Transaction	18	54.5322 USD
Common	Buy Transaction	1	54.5400 USD
Common	Buy Transaction	591	54.5464 USD
Common	Buy Transaction	1,146	54.5502 USD
Common	Buy Transaction	213	54.5662 USD
Common	Buy Transaction	66	54.5800 USD
Common	Buy Transaction	389	54.5842 USD
Common	Buy Transaction	771	54.5868 USD
Common	Buy Transaction	338	54.5868 USD
Common	Buy Transaction	1	54.5900 USD
Common	Buy Transaction	529	54.5949 USD
Common	Buy Transaction	133	54.5971 USD
Common	Buy Transaction	40	54.6100 USD
Common	Buy Transaction	380	54.6200 USD
Common	Buy Transaction	442	54.6228 USD
Common	Buy Transaction	1,782	54.6248 USD
Common	Buy Transaction	589	54.6439 USD
Common	Buy Transaction	6	54.6467 USD
Common	Buy Transaction	1,947	54.6563 USD
Common	Buy Transaction	1,519	54.6608 USD
Common	Buy Transaction	100	54.6800 USD
Common	Buy Transaction	522	54.6920 USD
Common	Buy Transaction	4,633	54.6960 USD
Common	Buy Transaction	1,474	54.6972 USD
Common	Buy Transaction	2,264	54.7029 USD
Common	Buy Transaction	621	54.7331 USD
Common	Buy Transaction	175	54.7429 USD
Common	Buy Transaction	200	54.7650 USD
Common	Buy Transaction	385	54.7665 USD
Common	Buy Transaction	148	54.8249 USD
Common	Buy Transaction	5,127	54.8664 USD
Common	Buy Transaction	10	54.8700 USD
Common	Buy Transaction	5,000	54.8718 USD
Common	Buy Transaction	8,595	54.8788 USD
Common	Buy Transaction	244	54.8900 USD
Common	Buy Transaction	10	54.9050 USD
Common	Buy Transaction	110	54.9118 USD
Common	Buy Transaction	117	54.9506 USD
Common	Buy Transaction	301	54.9600 USD
Common	Buy Transaction	395	54.9633 USD
Common	Buy Transaction	1	55.0000 USD
Common	Buy Transaction	10	55.1100 USD
Common	Buy Transaction	19	55.1300 USD
Common	DVP Transaction	3	54.2100 USD
Common	DVP Transaction	10	54.3150 USD
Common	DVP Transaction	100	54.3600 USD
Common	DVP Transaction	100	54.3900 USD
Common	DVP Transaction	1,379	54.3925 USD
Common	DVP Transaction	1,200	54.3967 USD
Common	DVP Transaction	709	54.4012 USD
Common	DVP Transaction	6	54.4200 USD
Common	DVP Transaction	231	54.4202 USD
Common	DVP Transaction	961	54.4212 USD
Common	DVP Transaction	1,200	54.4275 USD
Common	DVP Transaction	14	54.4307 USD
Common	DVP Transaction	1,383	54.4322 USD
Common	DVP Transaction	865	54.4333 USD
Common	DVP Transaction	767	54.4344 USD
Common	DVP Transaction	920	54.4352 USD
Common	DVP Transaction	2,248	54.4355 USD
Common	DVP Transaction	55	54.4400 USD
Common	DVP Transaction	876	54.4411 USD
Common	DVP Transaction	483	54.4452 USD
Common	DVP Transaction	803	54.4474 USD
Common	DVP Transaction	100	54.4500 USD
Common	DVP Transaction	100	54.4600 USD
Common	DVP Transaction	9	54.4633 USD
Common	DVP Transaction	16	54.4800 USD
Common	DVP Transaction	10,130	54.4900 USD
Common	DVP Transaction	130	54.4970 USD
Common	DVP Transaction	2	54.5000 USD
Common	DVP Transaction	4	54.5200 USD
Common	DVP Transaction	17	54.5729 USD
Common	DVP Transaction	4	54.6400 USD
Common	DVP Transaction	1,058	55.0000 USD
Common	DVP Transaction	10	55.0700 USD
Common	RVP Transaction	3	54.2100 USD
Common	RVP Transaction	210	54.3833 USD
Common	RVP Transaction	63	54.3881 USD
Common	RVP Transaction	65	54.4100 USD
Common	RVP Transaction	13,712	54.4244 USD
Common	RVP Transaction	61	54.4341 USD
Common	RVP Transaction	100	54.4375 USD
Common	RVP Transaction	140	54.4536 USD
Common	RVP Transaction	80	54.4723 USD
Common	RVP Transaction	5	54.4800 USD
Common	RVP Transaction	10,049	54.4900 USD
Common	RVP Transaction	50	54.5000 USD
Common	RVP Transaction	80	54.5014 USD
Common	RVP Transaction	7	54.5100 USD
Common	RVP Transaction	119	54.5230 USD
Common	RVP Transaction	447	54.9087 USD
Common	RVP Transaction	692	55.0000 USD
Common	RVP Transaction	10	55.0700 USD
Common	Sell Transaction	271	54.2892 USD
Common	Sell Transaction	503	54.3200 USD
Common	Sell Transaction	192	54.3233 USD
Common	Sell Transaction	13	54.3292 USD
Common	Sell Transaction	10	54.3300 USD
Common	Sell Transaction	85	54.3458 USD
Common	Sell Transaction	45	54.3600 USD
Common	Sell Transaction	103	54.3778 USD
Common	Sell Transaction	14	54.3800 USD
Common	Sell Transaction	214	54.3811 USD
Common	Sell Transaction	207	54.3838 USD
Common	Sell Transaction	393	54.3969 USD
Common	Sell Transaction	7	54.4000 USD
Common	Sell Transaction	139	54.4039 USD
Common	Sell Transaction	295	54.4073 USD
Common	Sell Transaction	105	54.4086 USD
Common	Sell Transaction	868	54.4090 USD
Common	Sell Transaction	300	54.4100 USD
Common	Sell Transaction	292	54.4132 USD
Common	Sell Transaction	2,121	54.4134 USD
Common	Sell Transaction	526	54.4200 USD
Common	Sell Transaction	448	54.4212 USD
Common	Sell Transaction	200	54.4300 USD
Common	Sell Transaction	7	54.4386 USD
Common	Sell Transaction	673	54.4400 USD
Common	Sell Transaction	146	54.4405 USD
Common	Sell Transaction	86	54.4430 USD
Common	Sell Transaction	332	54.4431 USD
Common	Sell Transaction	110	54.4472 USD
Common	Sell Transaction	160	54.4482 USD
Common	Sell Transaction	642	54.4500 USD
Common	Sell Transaction	401	54.4516 USD
Common	Sell Transaction	106	54.4523 USD
Common	Sell Transaction	107	54.4526 USD
Common	Sell Transaction	759	54.4553 USD
Common	Sell Transaction	526	54.4600 USD
Common	Sell Transaction	290	54.4600 USD
Common	Sell Transaction	3,092	54.4604 USD
Common	Sell Transaction	206	54.4606 USD
Common	Sell Transaction	4,130	54.4631 USD
Common	Sell Transaction	862	54.4638 USD
Common	Sell Transaction	424	54.4679 USD
Common	Sell Transaction	1,885	54.4710 USD
Common	Sell Transaction	200	54.4725 USD
Common	Sell Transaction	2,392	54.4732 USD
Common	Sell Transaction	4,304	54.4792 USD
Common	Sell Transaction	283	54.4792 USD
Common	Sell Transaction	127	54.4793 USD
Common	Sell Transaction	594	54.4795 USD
Common	Sell Transaction	426	54.4800 USD
Common	Sell Transaction	1,986	54.4806 USD
Common	Sell Transaction	968	54.4824 USD
Common	Sell Transaction	1,906	54.4834 USD
Common	Sell Transaction	461	54.4856 USD
Common	Sell Transaction	800	54.4858 USD
Common	Sell Transaction	1,944	54.4859 USD
Common	Sell Transaction	2,889	54.4861 USD
Common	Sell Transaction	100	54.4866 USD
Common	Sell Transaction	1,894	54.4869 USD
Common	Sell Transaction	1,287	54.4870 USD
Common	Sell Transaction	4,403	54.4873 USD
Common	Sell Transaction	406	54.4877 USD
Common	Sell Transaction	3,789	54.4878 USD
Common	Sell Transaction	525	54.4899 USD
Common	Sell Transaction	20,346	54.4900 USD
Common	Sell Transaction	6,722	54.4933 USD
Common	Sell Transaction	147	54.4936 USD
Common	Sell Transaction	6,166	54.4943 USD
Common	Sell Transaction	886	54.4946 USD
Common	Sell Transaction	29	54.4959 USD
Common	Sell Transaction	1,358	54.4967 USD
Common	Sell Transaction	620	54.4986 USD
Common	Sell Transaction	628	54.4999 USD
Common	Sell Transaction	2,221	54.5000 USD
Common	Sell Transaction	1,824	54.5006 USD
Common	Sell Transaction	606	54.5009 USD
Common	Sell Transaction	3	54.5038 USD
Common	Sell Transaction	308	54.5081 USD
Common	Sell Transaction	1	54.5100 USD
Common	Sell Transaction	976	54.5193 USD
Common	Sell Transaction	229	54.5200 USD
Common	Sell Transaction	114	54.5204 USD
Common	Sell Transaction	521	54.5271 USD
Common	Sell Transaction	1,214	54.5312 USD
Common	Sell Transaction	587	54.5341 USD
Common	Sell Transaction	355	54.5342 USD
Common	Sell Transaction	282	54.5367 USD
Common	Sell Transaction	3,278	54.5368 USD
Common	Sell Transaction	206	54.5402 USD
Common	Sell Transaction	951	54.5442 USD
Common	Sell Transaction	200	54.5450 USD
Common	Sell Transaction	417	54.5468 USD
Common	Sell Transaction	984	54.5481 USD
Common	Sell Transaction	14	54.5493 USD
Common	Sell Transaction	100	54.5500 USD
Common	Sell Transaction	253	54.5506 USD
Common	Sell Transaction	1,187	54.5592 USD
Common	Sell Transaction	866	54.5599 USD
Common	Sell Transaction	188	54.5600 USD
Common	Sell Transaction	557	54.5606 USD
Common	Sell Transaction	586	54.5620 USD
Common	Sell Transaction	127	54.5687 USD
Common	Sell Transaction	7	54.5729 USD
Common	Sell Transaction	760	54.5729 USD
Common	Sell Transaction	300	54.5767 USD
Common	Sell Transaction	174	54.5800 USD
Common	Sell Transaction	2,369	54.5871 USD
Common	Sell Transaction	6	54.5983 USD
Common	Sell Transaction	581	54.6010 USD
Common	Sell Transaction	100	54.6100 USD
Common	Sell Transaction	1,281	54.6127 USD
Common	Sell Transaction	50	54.6200 USD
Common	Sell Transaction	1,932	54.6251 USD
Common	Sell Transaction	300	54.6300 USD
Common	Sell Transaction	306	54.6300 USD
Common	Sell Transaction	1,816	54.6400 USD
Common	Sell Transaction	205	54.6444 USD
Common	Sell Transaction	1,696	54.6444 USD
Common	Sell Transaction	160	54.6456 USD
Common	Sell Transaction	204	54.6500 USD
Common	Sell Transaction	376	54.6565 USD
Common	Sell Transaction	289	54.6600 USD
Common	Sell Transaction	50	54.6800 USD
Common	Sell Transaction	116	54.7162 USD
Common	Sell Transaction	442	54.7280 USD
Common	Sell Transaction	200	54.7300 USD
Common	Sell Transaction	2	54.7550 USD
Common	Sell Transaction	4,784	54.7560 USD
Common	Sell Transaction	385	54.7665 USD
Common	Sell Transaction	500	54.7780 USD
Common	Sell Transaction	684	54.8001 USD
Common	Sell Transaction	6	54.8183 USD
Common	Sell Transaction	2,673	54.8270 USD
Common	Sell Transaction	200	54.8300 USD
Common	Sell Transaction	610	54.8400 USD
Common	Sell Transaction	110	54.8427 USD
Common	Sell Transaction	3	54.8500 USD
Common	Sell Transaction	400	54.8550 USD
Common	Sell Transaction	7	54.8614 USD
Common	Sell Transaction	3	54.8633 USD
Common	Sell Transaction	14	54.8657 USD
Common	Sell Transaction	815	54.8700 USD
Common	Sell Transaction	450	54.8800 USD
Common	Sell Transaction	401	54.8802 USD
Common	Sell Transaction	48	54.8821 USD
Common	Sell Transaction	200	54.8850 USD
Common	Sell Transaction	812	54.8900 USD
Common	Sell Transaction	105	54.9033 USD
Common	Sell Transaction	115	54.9035 USD
Common	Sell Transaction	10	54.9050 USD
Common	Sell Transaction	14	54.9064 USD
Common	Sell Transaction	167	54.9084 USD
Common	Sell Transaction	200	54.9100 USD
Common	Sell Transaction	344	54.9142 USD
Common	Sell Transaction	2	54.9200 USD
Common	Sell Transaction	259	54.9244 USD
Common	Sell Transaction	100	54.9300 USD
Common	Sell Transaction	12	54.9367 USD
Common	Sell Transaction	46	54.9374 USD
Common	Sell Transaction	22	54.9500 USD
Common	Sell Transaction	5	54.9600 USD
Common	Sell Transaction	2	54.9700 USD
Common	Sell Transaction	208	54.9748 USD
Common	Sell Transaction	50	54.9800 USD
Common	Sell Transaction	300	54.9850 USD
Common	Sell Transaction	31	54.9900 USD
Common	Sell Transaction	281	54.9909 USD
Common	Sell Transaction	747	54.9923 USD
Common	Sell Transaction	357	54.9950 USD
Common	Sell Transaction	6	55.0000 USD
Common	Sell Transaction	673	55.0238 USD
Common	Sell Transaction	117	55.0300 USD
Common	Sell Transaction	100	55.0500 USD
Common	Sell Transaction	133	55.0600 USD
Common	Sell Transaction	447	55.0604 USD
Common	Sell Transaction	710	55.0700 USD
Common	Sell Transaction	1	55.0800 USD
Common	Sell Transaction	10	55.0890 USD
Common	Sell Transaction	298	55.0900 USD
Common	Sell Transaction	56	55.1100 USD
Common	Sell Transaction	119	55.1154 USD
Common	Sell Transaction	25	55.1400 USD
Common	Sell Transaction	100	55.1500 USD

(b)        Cash-settled derivative transactions

Class of relevant security

Product description e.g. CFD

Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of 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	9	60.0000 USD	American	2025-Jan-17	0.0500 USD
Common	Call Option	Buy Transaction	1	57.0000 USD	American	2025-Jan-03	0.0500 USD
Common	Put Option	Buy Transaction	5	32.5000 USD	American	2025-Jan-17	0.0600 USD
Common	Put Option	Buy Transaction	5	47.5000 USD	American	2025-Jan-17	0.0600 USD
Common	Call Option	Buy Transaction	85	60.0000 USD	American	2025-Jan-17	0.1000 USD
Common	Call Option	Buy Transaction	1	56.0000 USD	American	2025-Jan-03	0.3100 USD
Common	Put Option	Buy Transaction	1	47.5000 USD	American	2025-Feb-21	0.4500 USD
Common	Call Option	Buy Transaction	2	55.0000 USD	American	2025-Jan-03	0.5000 USD
Common	Call Option	Buy Transaction	3	56.0000 USD	American	2025-Jan-10	0.5000 USD
Common	Put Option	Buy Transaction	5	52.0000 USD	American	2025-Jan-17	0.5000 USD
Common	Call Option	Buy Transaction	6	55.0000 USD	American	2025-Jan-03	0.6400 USD
Common	Call Option	Buy Transaction	1	56.0000 USD	American	2025-Jan-17	0.7200 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2025-Jan-10	0.8000 USD
Common	Put Option	Buy Transaction	5	37.5000 USD	American	2026-Jan-16	1.0700 USD
Common	Call Option	Buy Transaction	1	55.0000 USD	American	2025-Jan-17	1.1700 USD
Common	Put Option	Buy Transaction	1	55.0000 USD	American	2025-Jan-24	1.7500 USD
Common	Call Option	Buy Transaction	1	53.0000 USD	American	2025-Jan-10	1.9900 USD
Common	Put Option	Buy Transaction	2	50.0000 USD	American	2025-Jun-20	2.1000 USD
Common	Call Option	Buy Transaction	4	55.0000 USD	American	2025-Feb-21	2.2700 USD
Common	Call Option	Buy Transaction	4	52.5000 USD	American	2025-Jan-17	2.6000 USD
Common	Call Option	Buy Transaction	15	55.0000 USD	American	2025-Apr-17	3.2000 USD
Common	Call Option	Buy Transaction	1	52.5000 USD	American	2025-Feb-21	3.8000 USD
Common	Call Option	Buy Transaction	11	55.0000 USD	American	2025-Jun-20	3.9800 USD
Common	Call Option	Buy Transaction	4	52.5000 USD	American	2025-Jul-18	5.5700 USD
Common	Call Option	Buy Transaction	5	52.5000 USD	American	2025-Jul-18	5.8700 USD
Common	Call Option	Buy Transaction	3	50.0000 USD	American	2025-Sep-19	7.6400 USD
Common	Call Option	Buy Transaction	7	50.0000 USD	American	2026-Jan-16	8.7000 USD
Common	Call Option	Buy Transaction	27	47.5000 USD	American	2026-Jan-16	10.1000 USD
Common	Call Option	Buy Transaction	30	47.5000 USD	American	2026-Jan-16	10.3400 USD
Common	Put Option	Sell Transaction	5	49.0000 USD	American	2025-Jan-17	0.3000 USD
Common	Call Option	Sell Transaction	10	57.5000 USD	American	2025-Jan-17	0.4000 USD
Common	Put Option	Sell Transaction	2	27.5000 USD	American	2026-Jan-16	0.5500 USD
Common	Call Option	Sell Transaction	1	54.0000 USD	American	2025-Jan-03	0.9000 USD
Common	Call Option	Sell Transaction	3	55.0000 USD	American	2025-Jan-17	1.1000 USD
Common	Put Option	Sell Transaction	1	45.0000 USD	American	2025-Sep-19	1.5500 USD
Common	Put Option	Sell Transaction	1	47.5000 USD	American	2025-Sep-19	2.1000 USD
Common	Put Option	Sell Transaction	1	50.0000 USD	American	2025-Sep-19	2.8500 USD
Common	Put Option	Sell Transaction	1	47.5000 USD	American	2026-Jan-16	3.0000 USD
Common	Put Option	Sell Transaction	1	52.5000 USD	American	2025-Sep-19	3.8000 USD
Common	Call Option	Sell Transaction	1	50.0000 USD	American	2025-Jan-17	4.7200 USD
Common	Call Option	Sell Transaction	4	50.0000 USD	American	2025-Jan-17	4.8200 USD
Common	Call Option	Sell Transaction	19	50.0000 USD	American	2025-Jan-17	4.8500 USD
Common	Call Option	Sell Transaction	11	50.0000 USD	American	2025-Jan-17	4.8800 USD
Common	Call Option	Sell Transaction	5	50.0000 USD	American	2025-Jan-17	5.1700 USD
Common	Call Option	Sell Transaction	60	45.0000 USD	American	2025-Jan-17	9.6600 USD
Common	Call Option	Sell Transaction	1	45.0000 USD	American	2026-Jan-16	12.7000 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:	30 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	Call Option	Purchased	13,600	55.0 USD	American	17/01/2025
Common	Call Option	Purchased	300	60.0 USD	American	03/01/2025
Common	Call Option	Purchased	1,200	56.0 USD	American	17/01/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	15/10/2025
Common	Call Option	Purchased	5,600	57.5 USD	American	21/02/2025
Common	Put Option	Purchased	-100	47.5 USD	American	21/02/2025
Common	Put Option	Purchased	-4,500	45.0 USD	American	17/04/2025
Common	Put Option	Purchased	-2,800	20.0 USD	American	17/01/2025
Common	Put Option	Purchased	-700	54.0 USD	American	03/01/2025
Common	Call Option	Purchased	100	62.0 USD	American	10/01/2025
Common	Put Option	Purchased	-100	37.5 USD	American	17/01/2025
Common	Put Option	Purchased	-1,200	15.0 USD	American	17/01/2025
Common	Call Option	Purchased	200	54.0 USD	American	10/01/2025
Common	Put Option	Purchased	-2,100	60.0 USD	American	17/01/2025
Common	Call Option	Purchased	100	61.0 USD	American	24/01/2025
Common	Call Option	Purchased	15,200	50.0 USD	American	20/06/2025
Common	Call Option	Purchased	100	54.0 USD	American	24/01/2025
Common	Call Option	Purchased	5,900	55.0 USD	American	21/02/2025
Common	Put Option	Purchased	-400	42.5 USD	American	17/04/2025
Common	Call Option	Purchased	2,100	52.5 USD	American	17/04/2025
Common	Call Option	Purchased	700	65.0 USD	American	19/09/2025
Common	Put Option	Purchased	-6,300	17.5 USD	American	17/01/2025
Common	Call Option	Purchased	100	65.0 USD	American	18/07/2025
Common	Put Option	Purchased	-500	52.0 USD	American	17/01/2025
Common	Call Option	Purchased	1,900	57.0 USD	American	17/01/2025
Common	Put Option	Purchased	-24,000	22.5 USD	American	17/01/2025
Common	Put Option	Purchased	-100	47.5 USD	American	17/10/2025
Common	Put Option	Purchased	-5,400	17.5 USD	American	16/01/2026
Common	Call Option	Purchased	40,800	52.5 USD	American	20/06/2025
Common	Call Option	Purchased	3,800	47.5 USD	American	16/01/2026
Common	Put Option	Purchased	-100	35.0 USD	American	16/01/2026
Common	Put Option	Purchased	-500	35.0 USD	American	18/07/2025
Common	Call Option	Purchased	28,900	52.5 USD	American	19/09/2025
Common	Call Option	Purchased	100	35.0 USD	American	15/01/2027
Common	Put Option	Purchased	-500	37.5 USD	American	20/06/2025
Common	Call Option	Purchased	200	57.0 USD	American	03/01/2025
Common	Call Option	Purchased	6,700	35.0 USD	American	16/01/2026
Common	Call Option	Purchased	100	62.0 USD	American	03/01/2025
Common	Put Option	Purchased	-12,100	37.5 USD	American	17/01/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	13/10/2025
Common	Call Option	Purchased	500	40.0 USD	American	17/04/2025
Common	Call Option	Purchased	5,100	67.5 USD	American	16/01/2026
Common	Call Option	Purchased	600	30.0 USD	American	15/01/2027
Common	Call Option	Purchased	30,900	55.0 USD	American	17/10/2025
Common	Put Option	Purchased	-200	40.0 USD	American	20/06/2025
Common	Put Option	Purchased	-3,300	50.0 USD	American	19/09/2025
Common	Call Option	Purchased	100	37.5 USD	American	20/06/2025
Common	Call Option	Purchased	700	57.5 USD	American	17/10/2025
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	-4,000	32.5 USD	American	16/01/2026
Common	Call Option	Purchased	38,500	42.5 USD	American	17/01/2025
Common	Call Option	Purchased	7,200	62.5 USD	American	17/10/2025
Common	Call Option	Purchased	500	45.0 USD	American	17/04/2025
Common	Call Option	Purchased	300	47.5 USD	American	17/01/2025
Common	Put Option	Purchased	-20,000	55.0 USD	American	16/01/2026
Common	Put Option	Purchased	-700	42.5 USD	American	21/02/2025
Common	Call Option	Purchased	0	52.5 USD	American	21/02/2025
Common	Put Option	Purchased	-11,400	55.0 USD	American	16/01/2026
Common	Call Option	Purchased	300	70.0 USD	American	15/01/2027
Common	Put Option	Purchased	0	47.5 USD	American	15/01/2027
Common	Call Option	Purchased	1,400	55.0 USD	American	03/01/2025
Common	Call Option	Purchased	1,900	50.0 USD	American	17/01/2025
Common	Call Option	Purchased	5,500	50.0 USD	American	19/09/2025
Common	Call Option	Purchased	20,400	27.5 USD	American	16/01/2026
Common	Call Option	Purchased	2,400	65.0 USD	American	17/01/2025
Common	Put Option	Purchased	-1,000	35.0 USD	American	17/10/2025
Common	Put Option	Purchased	-31,800	50.0 USD	American	20/06/2025
Common	Call Option	Purchased	900	52.5 USD	American	18/07/2025
Common	Call Option	Purchased	0	54.0 USD	American	03/01/2025
Common	Call Option	Purchased	500	67.5 USD	American	17/01/2025
Common	Call Option	Purchased	300	67.5 USD	American	15/01/2027
Common	Call Option	Purchased	700	52.5 USD	American	16/01/2026
Common	Put Option	Purchased	-5,000	55.0 USD	American	24/01/2025
Common	Call Option	Purchased	13,200	57.5 USD	American	17/04/2025
Common	Call Option	Purchased	800	40.0 USD	American	15/01/2027
Common	Put Option	Purchased	-100	45.0 USD	American	21/02/2025
Common	Put Option	Purchased	-5,000	51.0 USD	American	03/01/2025
Common	Put Option	Purchased	-100	27.5 USD	American	17/01/2025
Common	Call Option	Purchased	600	32.5 USD	American	15/01/2027
Common	Call Option	Purchased	5,900	37.5 USD	American	16/01/2026
Common	Call Option	Purchased	1,700	32.5 USD	American	16/01/2026
Common	Call Option	Purchased	100	56.0 USD	American	03/01/2025
Common	Put Option	Purchased	-200	42.5 USD	American	19/09/2025
Common	Call Option	Purchased	1,400	57.0 USD	American	10/01/2025
Common	Put Option	Purchased	-50,000	52.5 USD	American	16/01/2026
Common	Call Option	Purchased	900	52.5 USD	American	15/01/2027
Common	Call Option	Purchased	2,600	60.0 USD	American	20/06/2025
Common	Put Option	Purchased	0	57.0 USD	American	24/01/2025
Common	Call Option	Purchased	22,200	52.5 USD	American	17/10/2025
Common	Put Option	Purchased	-7,800	52.5 USD	American	19/09/2025
Common	Call Option	Purchased	300	58.0 USD	American	24/01/2025
Common	Call Option	Purchased	300	42.5 USD	American	20/06/2025
Common	Call Option	Purchased	1,000	80.0 USD	American	16/01/2026
Common	Call Option	Purchased	5,200	60.0 USD	American	17/10/2025
Common	Call Option	Purchased	100	32.5 USD	American	17/01/2025
Common	Put Option	Purchased	-100	50.0 USD	American	21/02/2025
Common	Call Option	Purchased	100	56.0 USD	American	31/01/2025
Common	Call Option	Purchased	7,100	55.0 USD	American	20/06/2025
Common	Call Option	Purchased	51,600	40.0 USD	American	17/01/2025
Common	Put Option	Purchased	-1,600	42.5 USD	American	20/06/2025
Common	Put Option	Purchased	-8,500	40.0 USD	American	16/01/2026
Common	Put Option	Purchased	-9,800	57.5 USD	American	17/01/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	15/10/2025
Common	Call Option	Purchased	3,000	60.0 USD	American	24/01/2025
Common	Call Option	Purchased	100	40.0 USD	American	20/06/2025
Common	Put Option	Purchased	-700	40.0 USD	American	17/04/2025
Common	Call Option	Purchased	0	53.0 USD	American	10/01/2025
Common	Put Option	Purchased	-100	52.0 USD	American	31/01/2025
Common	Call Option	Purchased	800	59.0 USD	American	10/01/2025
Common	Call Option	Purchased	2,000	61.0 USD	American	10/01/2025
Common	Call Option	Purchased	1,000	60.0 USD	American	18/07/2025
Common	Call Option	Purchased	300	55.0 USD	American	18/07/2025
Common	Call Option	Purchased	200	30.0 USD	American	19/09/2025
Common	Call Option	Purchased	100	35.0 USD	American	17/01/2025
Common	Call Option	Purchased	1,600	70.0 USD	American	17/04/2025
Common	Call Option	Purchased	500	60.0 USD	American	10/01/2025
Common	Call Option	Purchased	3,100	30.0 USD	American	16/01/2026
Common	Call Option	Purchased	13,300	60.0 USD	American	17/04/2025
Common	Call Option	Purchased	400	55.0 USD	American	15/01/2027
Common	Call Option	Purchased	500	58.0 USD	American	03/01/2025
Common	Put Option	Purchased	-3,600	45.0 USD	American	20/06/2025
Common	Call Option	Purchased	11,400	55.0 USD	American	16/01/2026
Common	Call Option	Purchased	61,200	55.0 USD	American	17/04/2025
Common	Put Option	Purchased	-100	52.5 USD	American	17/10/2025
Common	Put Option	Purchased	-2,400	45.0 USD	American	19/09/2025
Common	Call Option	Purchased	200	70.0 USD	American	17/01/2025
Common	Call Option	Purchased	2,400	50.0 USD	American	15/01/2027
Common	Put Option	Purchased	-6,500	27.5 USD	American	17/01/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	14/10/2025
Common	Put Option	Purchased	-12,000	25.0 USD	American	17/01/2025
Common	Put Option	Purchased	-1,500	47.0 USD	American	31/01/2025
Common	Call Option	Purchased	21,600	62.5 USD	American	17/01/2025
Common	Call Option	Purchased	100	57.5 USD	American	18/07/2025
Common	Call Option	Purchased	900	58.0 USD	American	17/01/2025
Common	Call Option	Purchased	1,000	54.0 USD	American	31/01/2025
Common	Call Option	Purchased	59,800	52.5 USD	American	17/01/2025
Common	Call Option	Purchased	2,500	65.0 USD	American	20/06/2025
Common	Put Option	Purchased	-200	25.0 USD	American	17/01/2025
Common	Call Option	Purchased	81,500	54.9 USD	European	14/10/2025
Common	Call Option	Purchased	21,800	62.5 USD	American	21/02/2025
Common	Call Option	Purchased	100	62.5 USD	American	20/06/2025
Common	Call Option	Purchased	1,400	50.0 USD	American	16/01/2026
Common	Put Option	Purchased	-12,500	50.0 USD	American	16/01/2026
Common	Call Option	Purchased	100	56.0 USD	American	10/01/2025
Common	Call Option	Purchased	100	59.0 USD	American	31/01/2025
Common	Call Option	Purchased	20,700	57.5 USD	American	19/09/2025
Common	Put Option	Purchased	-100	50.0 USD	American	24/01/2025
Common	Put Option	Purchased	-500	20.0 USD	American	16/01/2026
Common	Call Option	Purchased	3,600	70.0 USD	American	20/06/2025
Common	Put Option	Purchased	-8,300	42.5 USD	American	17/01/2025
Common	Put Option	Purchased	-100	32.5 USD	American	17/01/2025
Common	Call Option	Purchased	9,000	65.0 USD	American	17/04/2025
Common	Call Option	Purchased	195,000	45.0 USD	American	17/01/2025
Common	Put Option	Purchased	-50,000	54.9 USD	European	13/10/2025
Common	Call Option	Purchased	1,500	57.5 USD	American	20/06/2025
Common	Call Option	Purchased	300	60.0 USD	American	07/02/2025
Common	Call Option	Purchased	64,800	50.0 USD	American	17/01/2025
Common	Put Option	Purchased	-20,600	56.0 USD	American	24/01/2025
Common	Call Option	Purchased	100	67.5 USD	American	17/04/2025
Common	Call Option	Purchased	400	60.0 USD	American	17/01/2025
Common	Put Option	Purchased	-7,100	50.0 USD	American	16/01/2026
Common	Put Option	Purchased	-500	37.5 USD	American	19/09/2025
Common	Call Option	Purchased	2,400	40.0 USD	American	16/01/2026
Common	Put Option	Purchased	-4,100	55.0 USD	American	17/01/2025
Common	Put Option	Purchased	-10,500	45.0 USD	American	17/10/2025
Common	Put Option	Sold	300	48.0 USD	American	24/01/2025
Common	Call Option	Sold	-104,000	60.0 USD	American	17/01/2025
Common	Call Option	Sold	-200	50.0 USD	American	17/10/2025
Common	Put Option	Sold	1,500	55.0 USD	American	21/02/2025
Common	Put Option	Sold	29,100	35.0 USD	American	17/01/2025
Common	Call Option	Sold	-8,800	45.0 USD	American	20/06/2025
Common	Put Option	Sold	4,800	25.0 USD	American	16/01/2026
Common	Put Option	Sold	6,800	55.0 USD	American	20/06/2025
Common	Call Option	Sold	-1,000	85.0 USD	American	16/01/2026
Common	Put Option	Sold	9,000	47.5 USD	American	17/04/2025
Common	Put Option	Sold	17,000	50.0 USD	American	17/01/2025
Common	Put Option	Sold	300	55.0 USD	American	18/07/2025
Common	Call Option	Sold	-3,600	62.5 USD	American	16/01/2026
Common	Call Option	Sold	-800	60.0 USD	American	19/09/2025
Common	Put Option	Sold	300	27.5 USD	American	16/01/2026
Common	Call Option	Sold	-400	42.5 USD	American	17/04/2025
Common	Put Option	Sold	600	60.0 USD	American	17/04/2025
Common	Put Option	Sold	100	37.5 USD	American	17/04/2025
Common	Call Option	Sold	-200	30.0 USD	American	17/01/2025
Common	Call Option	Sold	-2,500	47.5 USD	American	19/09/2025
Common	Call Option	Sold	-100	59.0 USD	American	24/01/2025
Common	Put Option	Sold	12,900	45.0 USD	American	16/01/2026
Common	Call Option	Sold	-6,700	60.0 USD	American	16/01/2026
Common	Put Option	Sold	15,700	32.5 USD	American	17/01/2025
Common	Call Option	Sold	-200	59.0 USD	American	03/01/2025
Common	Call Option	Sold	-7,900	70.0 USD	American	16/01/2026
Common	Call Option	Sold	-34,500	57.5 USD	American	17/01/2025
Common	Put Option	Sold	1,800	56.0 USD	American	03/01/2025
Common	Put Option	Sold	1,200	57.0 USD	American	03/01/2025
Common	Put Option	Sold	40,900	45.0 USD	American	17/01/2025
Common	Call Option	Sold	-495,400	47.5 USD	American	17/01/2025
Common	Call Option	Sold	-500	65.0 USD	American	16/01/2026
Common	Put Option	Sold	2,700	42.5 USD	American	16/01/2026
Common	Call Option	Sold	-100	75.0 USD	American	20/06/2025
Common	Call Option	Sold	-200	65.0 USD	American	21/02/2025
Common	Put Option	Sold	1,100	50.0 USD	American	17/10/2025
Common	Call Option	Sold	-10,200	47.5 USD	American	17/04/2025
Common	Put Option	Sold	1,400	55.0 USD	American	03/01/2025
Common	Put Option	Sold	1,200	47.5 USD	American	16/01/2026
Common	Put Option	Sold	300	55.0 USD	American	19/09/2025
Common	Call Option	Sold	-800	47.5 USD	American	20/06/2025
Common	Put Option	Sold	1,600	52.5 USD	American	21/02/2025
Common	Call Option	Sold	-43,300	55.0 USD	American	17/01/2025
Common	Put Option	Sold	200	59.0 USD	American	03/01/2025
Common	Put Option	Sold	2,600	53.0 USD	American	03/01/2025
Common	Put Option	Sold	400	57.5 USD	American	21/02/2025
Common	Put Option	Sold	200	57.5 USD	American	18/07/2025
Common	Put Option	Sold	5,100	57.5 USD	American	16/01/2026
Common	Put Option	Sold	2,400	52.0 USD	American	10/01/2025
Common	Put Option	Sold	3,000	62.5 USD	American	20/06/2025
Common	Put Option	Sold	1,100	47.5 USD	American	19/09/2025
Common	Call Option	Sold	-29,200	58.0 USD	American	10/01/2025
Common	Put Option	Sold	2,200	52.0 USD	American	03/01/2025
Common	Put Option	Sold	500	54.0 USD	American	10/01/2025
Common	Put Option	Sold	300	52.5 USD	American	20/06/2025
Common	Call Option	Sold	-10,400	50.0 USD	American	17/04/2025
Common	Put Option	Sold	1,000	47.5 USD	American	20/06/2025
Common	Put Option	Sold	100	49.0 USD	American	24/01/2025
Common	Put Option	Sold	500	49.0 USD	American	17/01/2025
Common	Put Option	Sold	21,000	57.5 USD	American	17/04/2025
Common	Put Option	Sold	20,500	52.5 USD	American	17/04/2025
Common	Call Option	Sold	-600	50.0 USD	American	21/02/2025
Common	Put Option	Sold	200	65.0 USD	American	20/06/2025
Common	Put Option	Sold	100	51.0 USD	American	10/01/2025
Common	Put Option	Sold	200	50.0 USD	American	17/04/2025
Common	Call Option	Sold	-500	60.0 USD	American	21/02/2025
Common	Call Option	Sold	-2,000	42.5 USD	American	17/10/2025
Common	Put Option	Sold	100	60.0 USD	American	16/01/2026
Common	Call Option	Sold	-400	37.5 USD	American	19/09/2025
Common	Call Option	Sold	-2,300	45.0 USD	American	16/01/2026
Common	Put Option	Sold	21,800	55.0 USD	American	17/04/2025
Common	Put Option	Sold	44,500	47.5 USD	American	17/01/2025
Common	Call Option	Sold	-200	56.0 USD	American	24/01/2025
Common	Put Option	Sold	154,400	40.0 USD	American	17/01/2025
Common	Put Option	Sold	3,700	37.5 USD	American	16/01/2026
Common	Put Option	Sold	500	35.0 USD	American	15/01/2027
Common	Put Option	Sold	1,900	52.5 USD	American	17/01/2025
Common	Call Option	Sold	-200	20.0 USD	American	17/01/2025
Common	Put Option	Sold	3,000	62.5 USD	American	17/04/2025
Common	Call Option	Sold	-5,000	37.5 USD	American	17/01/2025
Common	Put Option	Sold	65,800	30.0 USD	American	17/01/2025
Common	Put Option	Sold	1,100	53.0 USD	American	10/01/2025
Common	Call Option	Sold	-2,400	42.5 USD	American	16/01/2026
Common	Put Option	Sold	400	55.0 USD	American	10/01/2025
Common	Call Option	Sold	-9,800	62.5 USD	American	17/04/2025
Common	Put Option	Sold	100	62.5 USD	American	16/01/2026
Common	Call Option	Sold	-100	45.0 USD	American	17/10/2025
Common	Put Option	Sold	3,000	30.0 USD	American	16/01/2026
Common	Call Option	Sold	-1,100	57.5 USD	American	16/01/2026
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	Call Option	Sold	-1,600	65.0 USD	American	17/10/2025
Common	Put Option	Sold	100	57.5 USD	American	20/06/2025
Common	Call Option	Sold	-100	51.0 USD	American	24/01/2025
Common	Call Option	Sold	-3,600	55.0 USD	American	10/01/2025
Common	Put Option	Sold	900	52.5 USD	American	16/01/2026

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