Sharenet Sites 
Sharenet Sites
Dealings in securities by directors and directors of major subsidiaries and the 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")
DEALINGS IN SECURITIES BY DIRECTORS AND DIRECTORS OF MAJOR SUBSIDIARIES AND THE COMPANY SECRETARIES
GRANTING OF CONDITIONAL SHARE AWARDS TO DIRECTORS AND DIRECTORS OF
MAJOR SUBSIDIARIES AND THE COMPANY SECRETARIES
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 clearance in terms of
paragraph 3.66 of the Requirements was obtained in each instance and these were all off-
market transactions:
Date of notification of transaction to : 20 November 2023
participant and acceptance of
conditional award
Nature of transaction : Grant and acceptance of conditional share
awards in terms of the Sappi Limited
Performance Share Incentive Plan
Assumed price per conditional share : R40.08 (closing price on 20 November 2023)
award
Vesting dates for conditional share : 20 November 2027
awards
Class of security : Conditional awards of ordinary shares
Extent of interest : Direct beneficial
NAME COMPANY NUMBER OF NOTIONAL
SHARES VALUE
SUBJECT TO
CONDITIONAL (R)
AWARDS
SR Binnie Sappi Limited 205 000 8 216 400
S Blyth Sappi Europe SA 34 000 1 362 720
D David Sappi Papier Holding 20 000 801 600
M Eikelenboom Sappi Papier Holding 114 000 4 569 120
MG Haws Sappi North America, Inc 114 000 4 569 120
B Köehldorfer Sappi Papier Holding 13 000 521 040
A Mahendranath Sappi Limited (Group Company Secretary) 17 500 701 400
S Manchester Sappi North America, Inc (Company 34 000 1 362 720
Secretary)
MI Mansoor Sappi North America, Inc 68 000 2 725 440
FCS Marupen Sappi North America, Inc 79 000 3 166 320
P Moodley Sappi Southern Africa 34 000 1 362 720
J Pässler Sappi Papier Holding 34 000 1 362 720
GT Pearce Sappi Limited 114 000 4 569 120
B Riegler Sappi Papier Holding 13 000 521 040
AvC Thiel Sappi Southern Africa 114 000 4 569 120
M Van Hoven Sappi North America, Inc 90 000 3 607 200
S Wurdinger Sappi Europe SA 34 000 1 362 720
VESTING AND SALE OF CONDITIONAL SHARE AWARDS TO DIRECTORS AND DIRECTORS
OF MAJOR SUBSIDIARIES AND COMPANY SECRETARIES
In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited
("Requirements"), we hereby provide the following information regarding the vesting and sale
of conditional share awards by directors of the Company and its major subsidiary companies
and company secretary. The necessary clearance in terms of paragraph 3.66 of the
Requirements was obtained in each instance.
VESTING
These were off-market transactions:
Date of notification of transaction to : 19 November 2023
participant
Nature of transaction : Vesting of grants of conditional share awards
in terms of the Sappi Limited Performance
Share Incentive Plan
Number of conditional share awards : Various, see table below
granted
Date of grant : 19 November 2019
Assumed price per conditional share : R40.38 (closing price on 17 November 2023)
award
Vesting period : 4 years from date of grant
Percentage of grants vested : 37.50%
Class of security : Ordinary shares
Extent of interest : Direct beneficial
NAME COMPANY NUMBER OF NOTIONAL
SHARES VALUE
SUBJECT TO
CONDITIONAL (R)
AWARDS
SR Binnie Sappi Limited 58 500 2 362 230
S Blyth Sappi Europe SA 9 375 378 563
GR Bowles Sappi North America, Inc 26 625 1 075 118
D Daniel Sappi Papier Holding 5 625 227 138
M Eikelenboom Sappi Papier Holding 10 125 408 848
MG Haws Sappi North America Inc 32 250 1 302 255
B Köehldorfer Sappi Papier Holding 3 188 128 731
A Mahendranath Sappi Limited (Group Company Secretary) 3 750 151 425
S Manchester Sappi North America, Inc (Company 9 375 378 563
Secretary)
MI Mansoor Sappi North America, Inc 18 750 757 125
FCS Marupen Sappi North America, Inc 21 750 878 265
PG Moodley Sappi Southern Africa 9 375 378 563
J Pässler Sappi Papier Holding 9 375 378 563
GT Pearce Sappi Limited 26 625 1 075 118
B Riegler Sappi Papier Holding 3 188 128 731
AvC Thiel Sappi Southern Africa 32 250 1 302 255
M van Hoven Sappi North America, Inc 25 125 1 014 548
S Wurdinger Sappi Europe SA 9 375 378 563
SALE OF SHARES
Date of transaction : 21 November 2023
Nature of transaction : Sale of shares (on market) to settle tax liability
arising from vesting of conditional share awards
as listed above.
Volume weighted average selling price per : R40.25426 (high R40.54; low R40.00)
share
Class of security : Ordinary shares
Extent of interest : Direct beneficial
NAME COMPANY NUMBER OF VALUE
SHARES SOLD
(R)
SR Binnie Sappi Limited 26 500 1 066 737.76
S Blyth Sappi Europe SA 4 359 175 468.30
GR Bowles Sappi North America, Inc 12 380 498 347.68
D Daniel Sappi Papier Holding 5 625 226 430.18
M Eikelenboom Sappi Papier Holding 10 125 407 574.33
B Köehldorfer Sappi Papier Holding 3 188 128 330.56
A Mahendranath Sappi Limited (Group Company Secretary) 1 743 70 163.17
FCS Marupen Sappi North America, Inc 10 113 407 091.28
PG Moodley Sappi Southern Africa 9 375 377 383.64
GT Pearce Sappi Limited 12 380 498 347.68
M van Hoven Sappi North America, Inc 11 683 470 290.46
23 November 2023
Sponsor:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 23-11-2023 03:31:00
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. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
