The company said International Paper has become the guarantor of all 4 Series of notes issued by its wholly owned subsidiary DS Smith Limited, guaranteeing DS Smith's payment obligations, with effect from March 10, 2025. International Paper executed and delivered a deed of guarantee for each Series.

1. 01

   The company said International Paper has become the guarantor of all 4 Series of notes issued by its wholly owned subsidiary DS Smith Limited, guaranteeing DS Smith's payment obligations, with effect from March 10, 2025. International Paper executed and delivered a deed of guarantee for each Series.

2. 02

   The company said Extraordinary Resolutions approving the Proposed Amendments were passed at the separate Series meetings held on March 10, 2025. DS Smith then executed and delivered a Supplemental Trust Deed for each Series.

3. 03

   The company said the guaranteed notes consist of €600,000,000 0.875% Notes due September 12, 2026, €850,000,000 4.375% Notes due July 27, 2027, £250,000,000 2.875% Notes due July 26, 2029, and €650,000,000 4.500% Notes due July 27, 2030.

4. 04

   The company said the Proposed Amendments include removing DS Smith's obligation to prepare audited and unaudited consolidated accounts, and adjusting certain events of default. It said the guarantee was proposed as consideration for noteholders consenting to the amendments.

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