Dealing in Securities by Directors and Company Secretary 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 SECRETARY 1. VESTING OF CONDITIONAL SHARE AWARDS GRANTED TO DIRECTORS OF LISTED COMPANY In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited, we hereby provide the following information regarding the vesting of conditional share awards granted by Sappi to the undermentioned directors of the Company and its major subsidiary companies. The necessary authority in terms of paragraph 3.66 was obtained and these were off-market transactions: Nature of transaction : Vesting of grants of conditional share awards in terms of the Sappi Limited Performance Share Incentive Plan. Date of transaction : 3 December 2014 (date participants informed of vesting) Number of conditional : Various, see table below Share awards granted Date of Grants : 3 December 2010 Implied price : R40.93 per share (closing price on 2 December 2014) Vesting period : 4 years from date of grant Percentage of grants : 50%, see table below vested Class of security : Ordinary shares Extent of interest : Direct beneficial Page 1 of 8 Director’s name : H Boner (Company Secretary) Company of which he is a : Sappi Europe secretary Value Number of grants awarded Number of grants vested R 24 150 12 075 494 230 Director’s name : G R Bowles Company of which he is a : Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 20 000 10 000 409 300 Director’s name : M Gardner Company of which he is a : Sappi North America director Value Number of grants awarded Number of grants vested R 88 000 44 000 1 800 920 Director’s name : T Hawkes Company of which he is a : Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 27 500 13 750 562 788 Page 2 of 8 Director’s name : N N Maelane Company of which he is a : Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 30 000 15 000 613 950 Director’s name : S Manchester (Company Secretary) Company of which she is a : Sappi North America director Value Number of grants awarded Number of grants vested R 27 500 13 750 562 788 Director’s name : P B McGrady Company of which he is a : Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 25 000 12 500 511 625 Director’s name : J M Miller Company of which she is a : Sappi North America director Value Number of grants awarded Number of grants vested R 27 500 13 750 562 788 Page 3 of 8 Director’s name : C M Mowatt Company of which he is a : Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 30 000 15 000 613 950 Director’s name : G T Pearce Company of which he is a : Sappi Limited, Sappi North America, director Sappi Southern Africa Value Number of grants awarded Number of grants vested R 24 150 12 075 494 230 Director’s name : M Quaedvlieg Company of which he is a : Sappi Europe director Value Number of grants awarded Number of grants vested R 30 000 15 000 613 950 Director’s name : A Rossi Company of which he is a : Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 55 000 27 500 1 125 575 Page 4 of 8 Director’s name : L Swartz Company of which she is a : Sappi North America, Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 50 000 25 000 1 023 250 Director’s name : A Thiel Company of which he is a : Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 65 000 32 500 1 330 225 Director’s name : G M van Aarde Company of which he is a : Sappi Southern Africa director Value Number of grants awarded Number of grants vested R 28 000 14 000 573 020 Director’s name : B Wiersum Company of which he is a : Sappi Europe director Value Number of grants awarded Number of grants vested R 88 000 44 000 1 800 920 Page 5 of 8 2. GRANTING OF CONDITIONAL SHARE AWARDS TO DIRECTORS OF LISTED COMPANY In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited, 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. The necessary authority in terms of paragraph 3.66 was obtained and these were off-market transactions: Date of notification of transaction : 4 December 2014 (to participant) Nature of transaction terms : Annual Grants of Conditional Share Awards in the Sappi Limited Performance Share Incentive Plan Strike price : Nil (no consideration) Vesting dates for Conditional share : 4 December 2018 awards Class of security : Ordinary shares Extent of interest : Direct beneficial NUMBER OF NOTIONAL SHARES DIRECTOR’S NAME COMPANY SUBJECT TO VALUE * CONDITIONAL AWARDS (R) SR BINNIE Sappi Limited 175 000 7 000 000 SJ BLYTH Sappi Europe 29 000 1 160 000 J BONER Sappi Europe (Company Secretary) 29 000 1 160 000 GR BOWLES Sappi Southern Africa 85 000 3 400 000 L DI AMATO Sappi International SA 7 000 280 000 M GARDNER Sappi North America 100 000 4 000 000 TS HAWKES Sappi Southern Africa 20 000 800 000 NN MAELANE Sappi Southern Africa 29 000 1 160 000 S MANCHESTER Sappi North America (Company Secretary) 29 000 1 160 000 PB McGRADY Sappi Southern Africa 33 000 1 320 000 JL MILLER Sappi North America 29 000 1 160 000 CM MOWATT Sappi Southern Africa 31 000 1 240 000 J PÄSSLER Sappi International SA 27 000 1 080 000 GT PEARCE Sappi Limited 85 000 3 400 000 R PEELMAN Sappi International SA 8 500 340 000 M QUAEDVLIEG Sappi Europe 29 000 1 160 000 B ROSS Sappi Papier Holding 13 500 540 000 TK STANGER Sappi Southern Africa 29 000 1 160 000 AvC THIEL Sappi Southern Africa 100 000 4 000 000 GM VAN AARDE Sappi Southern Africa 29 000 1 160 000 M VAN HOVEN Sappi Southern Africa / Sappi North America 80 000 3 200 000 BJ WIERSUM Sappi Europe 100 000 4 000 000 * Based on an implied price of R40.00 per share (closing price on 3 December 2014) Page 6 of 8 3. DEALING IN SECURITIES BY DIRECTORS OF LISTED COMPANIES 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 of the Company and its major subsidiaries. The dealings were on-market transactions and clearances for the dealings were received in terms of Listings Requirement 3.66, as follows: Director’s name : M Gardner Company : Sappi North America Date of transaction : 5 December 2014 Nature of transaction : Sale of shares arising from vesting of conditional shares awards as per Item 1 above. Number of shares sold : 44 000 Selling price per share : R39.98 Total value : R1 759 120.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : N N Maelane Company : Sappi Southern Africa Date of transaction : 5 December 2014 Nature of transaction : Sale of shares arising from vesting of conditional shares awards as per Item 1 above. Number of shares sold : 15 000 Selling price per share : Average R39.1409; low R39.14; high R39.40 Total value : R587 113.50 Class of security : Ordinary shares Extent of interest : Direct beneficial Page 7 of 8 Director’s name : S Manchester (Company Secretary) Company : Sappi North America Date of transaction : 5 December 2014 Nature of transaction : Sale of shares arising from vesting of conditional shares awards as per Item 1 above. Number of shares sold : 13 750 Selling price per share : R39.71 Total value : R546 012.50 Class of security : Ordinary shares Extent of interest : Direct beneficial Denis O’Connor Group Secretary Sappi Limited Tel +27 (0)11 407 8072 Fax +27 (0)11 339 1881 denis.oconnor@sappi.com 8 December 2014 Sponsor: UBS South Africa (Pty) Ltd Page 8 of 8 Date: 08/12/2014 01:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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