MEMPHIS, Tennessee — The boards of International Paper and DS Smith announced the expiration of the waiting period under the Hart-Scott-Rodino Act for the proposed combination of DS Smith with International Paper. This is an important step in the consummation of the proposed combination as the expiration removes the HSR Act’s bar to closing. Completion of the Combination remains subject to the satisfaction or waiver of the remaining Conditions, including regulatory clearance being received from the European Commission and the sanctioning of the Scheme by the Court. International Paper and DS Smith still expect the Scheme to become effective in the fourth quarter of 2024.