Dealings in securities by directors and company secretaries Sappi Limited Reg No 1936/008963/06 (Incorporated in the Republic of South Africa) JSE Code SAP ISIN code ZAE000006284 (“Sappi” or “the Company”) DEALING IN SECURITIES BY DIRECTORS AND COMPANY SECRETARIES In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited, we hereby provide the following information regarding dealing in securities of Sappi by directors and company secretary of the Company and its major subsidiaries. Clearance for the dealing was received in terms of Listings Requirement 3.66, as follows: Director’s name : S R Binnie Company : Sappi Ltd Date of transaction : 06 December 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 04 December 2018 Number of shares sold : 107 522 shares Volume weighted average selling : R76.34 (high R76.77; low R75.00) price per share Total value : R8 208 229.40 Class of security : Ordinary shares Extent of interest : Direct beneficial Page 2 of 5 Director’s name : G R Bowles Company : Sappi Ltd Date of transaction : 06 December 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 05 December 2018 Number of shares sold : 65 000 shares Volume weighted average selling : R76.34 (high R76.77; low R75.00) price per share Total value : R4 962 100.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : M Gardner Company : Sappi North America Inc. Date of transaction : 06 December 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 04 December 2018 Number of shares sold : 46 500 shares Volume weighted average selling : R76.34 (high R76.77; low R75.00) price per share Total value : R3 549 810.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Page 3 of 5 Director’s name : B Köhldorfer Company : Sappi Papier Holding GmbH Date of transaction : 06 December 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 04 December 2018 Number of shares sold : 5 900 shares Volume weighted average : R76.34 (high R76.77; low R75.00) selling price per share Total value : R450 406.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : J Pässler Company (Subsidiary) : Sappi Papier Holding GmbH Date of transaction : 06 December 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 04 December 2018 Number of shares sold : 27 000 shares Volume weighted average : R76.34 (high R76.77; low R75.00) selling price per share Total value : R2 061 180.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Page 4 of 5 Director’s name : G T Pearce Company (Subsidiary) : Sappi Limited Date of transaction : 06 December 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 04 December 2018 Number of shares sold : 39 525 shares Volume weighted average : R76.34 (high R76.77; low R75.00) selling price per share Total value : R3 017 338.50 Class of security : Ordinary shares Extent of interest : Direct beneficial Company Secretary’s name : S Manchester (Company Secretary) Company (Subsidiary) : Sappi North America Inc. Date of transaction : 06 December 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 04 December 2018 Number of shares sold : 29 000 shares Volume weighted average : R76.34 (high R76.77; low R75.00) selling price per share Total value : R2 213 860.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Page 5 of 5 Director’s name : M van Hoven Company (Subsidiary) : Sappi North America Inc. Date of transaction : 06 December 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 04 December 2018 Number of shares sold : 37 200 shares Volume weighted average : R76.34 (high R76.77; low R75.00) selling price per share Total value : R2 839 848.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Johannesburg 10 December 2018 Sponsor: UBS South Africa (Pty) Ltd Date: 10/12/2018 03:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. 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