SAPPI LIMITED - Dealing in Securities by Directors and Company Secretaries

Dealing in Securities by Directors and Company Secretaries

Sappi Limited
(Incorporated in the Republic of South Africa)
Registration number: 1936/008963/06
JSE share code: SAP
ISIN code: ZAE000006284

("Sappi" or the "Company")


DEALING IN SECURITIES BY DIRECTORS AND COMPANY SECRETARIES


GRANTING OF CONDITIONAL SHARE AWARDS TO DIRECTORS OF LISTED
COMPANY AND COMPANY SECRETARY

In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited
(“Requirements”), we hereby provide the following information regarding the granting of
conditional share awards by Sappi to the undermentioned directors of the Company and its
major subsidiary companies and company secretary. The necessary authority in terms of
paragraph 3.66 of the Requirements was obtained and these were off-market transactions:

Date of notification of transaction to :     18 November 2020
participant
Nature of transaction                    :   Annual grants of conditional share awards in
                                             terms of the Sappi Limited Performance
                                             Share Incentive Plan

Strike price                             :   Nil (no consideration)
Vesting dates for conditional share :        18 November 2024
awards
Class of security                        :   Ordinary shares
Extent of interest                       :   Direct beneficial
                                                                                                 Page 2 of 2



                                                                                  NUMBER OF
                                                                                                NOTIONAL
                                                                                   SHARES
                                                                                                 VALUE *
              NAME                               COMPANY                         SUBJECT TO
                                                                                 CONDITIONAL
                                                                                                    (R)
                                                                                   AWARDS
      SR    Binnie             Sappi Limited                                        250 000     6 887 500
      S     Blyth              Sappi Europe SA                                      40 000      1 102 000
      M     Boles              Sappi Papier Holding                                 40 000      1 102 000
      GR    Bowles             Sappi North America, Inc                             110 000     3 030 500
      D     David              Sappi Papier Holding                                 25 000       688 750
      MG    Haws               Sappi North America, Inc                             138 000     3 801 900
      B     Köhldorfer         Sappi Papier Holding                                 15 000       413 250
      A     Mahendranath       Sappi Limited (Company Secretary)                    18 000       495 900
                               Sappi North America, Inc (Company                                1 102 000
      S     Manchester                                                              40 000
                               Secretary)
      MI    Mansoor            Sappi Papier Holding                                  80 000     2 204 000
      FCS   Marupen            Sappi North America, Inc                              92 000     2 534 600
      P     Moodley            Sappi Southern Africa                                 40 000     1 102 000
      J     Pässler            Sappi Papier Holding                                  40 000     1 102 000
      GT    Pearce             Sappi Limited                                         115 000    3 168 250
      B     Riegler            Sappi Papier Holding                                  15 000      413 250
      AvC   Thiel              Sappi Southern Africa                                 138 000    3 801 900
      M     Van Hoven          Sappi North America, Inc                              107 000    2 947 850
      S     Wurdinger          Sappi Europe SA                                       40 000     1 102 000
        *   Based on an implied price of R27.55 per share (closing price on 17 November 2020)




           23 November 2020

           Sponsor : UBS South Africa (Pty) Ltd

Date: 23-11-2020 03:55:00
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