RNS Number : 3280Q

Citigroup Global Markets Limited

05 June 2018

FORM 38.5(a)

IRISH TAKEOVER PANEL

DISCLOSURE UNDER RULE 38.5(a) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013

DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITH RECOGNISED INTERMEDIARY STATUS AND DEALING IN A CLIENT-SERVING CAPACITY

1.       KEY INFORMATION

Name of exempt principal trader	Citigroup Global Markets Limited
Company dealt in	International Paper Company
Class of relevant security to which the dealings being disclosed relate (Note 1)	USD 1.00 common stock
Date of dealing	04 Jun 2018

2.        DEALINGS (Note 2)

(a)      Purchases and sales

Total number of relevant securities acquired	Highest price paid (Note 3)	Lowest price paid (Note 3)
		15,384	USD 57.4300	USD 55.8400
Total number of securities disposed	Highest price received (Note 3)	Lowest price received (Note 3)
		15,384	USD 57.4300	USD 55.8400

(b)      Derivatives transactions (other than options transactions)

Product name, e.g. CFD Nature of transaction (Note 4) Number of relevant securities (Note 5) Price per unit (Note 3)

(c)      Options transactions in respect of existing relevant securities

(i)       Writing, selling, purchasing or varying

Product name, e.g. call option Writing, selling, purchasing, varying etc. Number of securities to which the option relates (Note 5) Exercise price Type, e.g. American, European etc. Expiry date Option money paid/received per unit (Note 3)

(ii)      Exercising

Product name, e.g. call option Number of securities Exercise price per unit (Note 3)

3.      OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities 
under any option referred to on this form or relating to the voting rights or future acquisition 
or disposal of any relevant securities to which any derivative referred to on this form is referenced. 
If none, this should be stated.

Date of disclosure	05 Jun 2018
Contact name	Cathal McKenna
Telephone number	0044 (0)28 90409544
Name of offeree/offeror with      which connected	Smurfit Kappa Group Plc
Nature of connection (Note 6)	Financial Advisor

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