TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached (ii):

DS Smith Plc

2. Reason for the notification:

An acquisition or disposal of voting rights: ( X )

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: ( X )

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments (    )

An event changing the breakdown of voting rights: (    )

Other (please specify): (   ) 

3. Full name of person(s) subject to the notification obligation (iii):

Aviva plc & its subsidiaries

4. Full name of shareholder(s) (if different from 3.)

Registered Holder:

Available on request                                                  28,474*

BNY Norwich Union Nominees Limited                     1,126,580*

Chase (GA Group) Nominees Limited                      25,384,679*

Chase Nominees Limited                                          245,443*

CUIM Nominee Limited                                              601,173*

State Street Nominees Limited                                  29,402,070*

* denotes direct interest

BNP Paribas - London                                               439,040
Chase (GA Group) Nominees Limited                      687,947

Chase Nominees Limited                                          4,418,746

Vidacos Nominees Limited                                        5,656,483

5. Date of the transaction (and date on which the threshold is crossed or reached if different) (v):

5 August 2016

6. Date on which issuer notified:

9 August 2016

7. Threshold(s) that is/are crossed or reached:

5% to 6% Change at Direct Interest Level

(Box 8A&B)

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

*INC. RIGHT TO RECALL LOANED SHARES (1,717,668)

B: Qualifying Financial Instruments

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Total (A+B+C)

9.    Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable ^(xv):

The voting rights are managed and controlled by Aviva Investors Global Services Limited and Friends Provident International Limited, with the following chains of controlled undertakings:-

Aviva Investors Global Services Limited:

·      Aviva plc (Parent Company)

·      Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc)

·      Aviva Investors Holdings Limited (wholly owned subsidiary of Aviva Group Holdings Limited)

·      Aviva Investors Global Services Limited (wholly owned subsidiary of Aviva Investors Holdings Limited)

Friends Provident International Limited:

·      Aviva plc (Parent Company)

·      Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc)

·      Aviva Life Holdings UK Limited (wholly owned subsidiary of Aviva Group Holdings Limited)

·      Friends Life FPG Limited (wholly owned subsidiary of Aviva Life Holdings UK Limited)

·      Friends Life FPL Limited (wholly owned subsidiary of Friends Life FPG Limited)

·      Friends Life Limited (wholly owned subsidiary of Friends Life FPL Limited)

·      Friends Life and Pensions Limited (wholly owned subsidiary of Friends Life Limited)

·      Friends Provident International Limited (wholly owned subsidiary of Friends Life and Pensions Limited)

Proxy Voting:

10. Name of the proxy holder:  (See Section 4)

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

Figures are based on the total number of voting rights of 946,497,330, as per the Company's Total Voting Rights announcement of 1 August 2016.

14. Contact name:

James Clark, Aviva plc

15. Contact telephone number:

01603 683853

Identity of the notifier, if applicable (xvii)

Full name:

Iain Simm

Contact address:

DS Smith Plc, 7^th Floor, 350 Euston Road, London NW1 3AX

Phone number:

020 7756 1800