BRIEF

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

The Vanguard Group, Inc. Discloses Position in Smith (DS) plc

On August 20, 2024, The Vanguard Group, Inc. filed a Form 8.3 in accordance with Rule 8.3 of the Takeover Code. This disclosure pertains to Smith (DS) plc and includes details of Vanguard's interests and short positions in relevant securities, representing 1% or more.

As of August 19, 2024, Vanguard held 67,758,517 ordinary shares (10p each) in Smith (DS) plc, equating to 4.91% of the total shares. The disclosure also involves dealings in these securities, with recent purchases recorded at 628 shares for 4.67 GBP per share and 11,934 shares for 4.68 GBP per share.

Vanguard did not report any cash-settled or stock-settled derivative positions. Additionally, no new subscriptions or agreements concerning relevant securities were noted, and there are no existing indemnity agreements or other formal arrangements influencing dealings or voting rights.

This filing also discloses connections with International Paper Company in relation to the offer for Smith (DS) plc.

R. E.

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