BRIEF

on The Vanguard Group, Inc. (isin : US12572Q1058)

Vanguard Group's Position Disclosure on Smith (DS) plc

The Vanguard Group, Inc. has disclosed its interests in the securities of Smith (DS) plc under Rule 8.3 of the Takeover Code. As of 3 January 2025, Vanguard holds a 4.96% interest in 10p ordinary shares of Smith (DS) plc, amounting to 68,498,127 shares. This disclosure extends to the International Paper Company as part of the same offer.

Recent transactions include the purchase of 36,585 shares at 5.46 GBP per unit and 8,994 shares at 5.47 GBP per unit. No new agreements relating to securities options or derivatives were reported, and no understanding concerning voting rights related to these securities exists.

This timely disclosure adheres to regulatory requirements, ensuring transparency regarding Vanguard's substantial holdings in Smith (DS) plc.

R. P.

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