DS Smith (SMDS) Trading Update summary

Current trading

• Trading performance since 1 May 2024 remains in line with management expectations, reflecting continued market and business trends from the previous financial year.

Combination with International Paper

• The planned combination with International Paper is progressing as scheduled, with a preliminary proxy statement filed by IP with the SEC.

• Scheme documentation for shareholders is expected to be posted soon, pending completion of the SEC review process.

Business overview and strategy

• DS Smith is a global leader in sustainable paper-based packaging, operating in 34 countries with around 30,000 employees.

• The company focuses on circular economy solutions, replacing problem plastics, reducing carbon in supply chains, and providing innovative recycling.

• Its 'Now and Next' sustainability strategy and box-to-box in 14 days model underpin its commitment to innovation and environmental leadership.