DS Smith Plc (the "Company")

Options Granted under the Company's 2011 Sharesave Plan (the "Sharesave Plan")

(HMRC approved)

In pursuance of the Company's obligations under Disclosure Rule 3.1.4R (i)(a), the Company hereby notifies that the following Directors/Persons Discharging Managerial Responsibilities (PDMRs) notified the Company that, on 4 February 2016 they were each granted an option under the above Sharesave Plan to acquire the following Ordinary Shares of 10p each in the Company (the "Shares") at an option price of 302p per Share:

For and on behalf of DS Smith Plc

Company Official Responsible for making this notification:

Michael Hampson, Group General Counsel and Company Secretary

Date of this notification: 5 February 2016