ACQUISITION INFORMATION: This information is being provided pursuant to the requirements of Section 6045B of the Internal Revenue Code of 1986, as amended (the “Code”), and includes a general summary regarding the application of certain U.S. Federal income tax laws and regulations relating to the effects of the Acquisition (as defined below) on the tax basis of International Paper Company (“IP” or the “Company”) common stock and the allocation of tax basis between the common stock of IP and DS Smith Plc, a public company registered in England and Wales that has since been re-registered as DS Smith Limited (“DS Smith”) following the Acquisition. On January 31, 2025, the Company, a New York corporation, through its indirect wholly owned subsidiary, International Paper UK Holdings Limited, completed the closing of its previously announced acquisition (the “Acquisition”) of the entire issued and to be issued ordinary shares of DS Smith Plc.

The information contained herein does not constitute tax advice and does not purport to be complete or to describe the consequences that may apply to any stockholder or any particular categories of stockholders. In particular, it may not address U.S. federal income tax considerations applicable to IP common stockholders subject to special treatment under U.S. federal income tax law, such as financial institutions, dealers in securities, traders in securities who elect to apply a mark-to-market method of accounting, insurance companies, tax-exempt entities, partnerships and other pass-through entities, IP common stockholders who hold their shares of IP common stock as part of a “hedge,” “straddle,” “conversion” or “constructive sale” transaction, IP common stockholders who are subject to the alternative minimum tax and IP common stockholders who acquired their shares upon the exercise of employee stock options or otherwise as compensation. In addition, this summary is limited to IP common stockholders who hold their shares of IP common stock as a capital asset. IP does not provide tax advice to its stockholders.

You are urged to consult your own tax advisor regarding the particular consequences of the Acquisition to you, including the applicability and effect of all U.S. Federal, state and local and foreign tax laws. We urge you to read the Company’s Definitive Proxy Statement filed on Schedule 14A with the SEC on September 12, 2024 (together with any amendments and supplements, the “Proxy Statement”). You may access the Proxy Statement at IP’s website at Offer for DS Smith | International Paper in the Investors section, under Offer or at www.sec.gov.

This notice does not apply to shares of IP common stock sold, exchanged or otherwise disposed of prior to the time of the Acquisition.