Dealings In Securities By Directors Of Listed Companies 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’) 11 December 2015 DEALINGS 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. Clearance for the dealing was received in terms of Listings Requirement 3.66, as follows: Director’s name : G T Pearce Company : Sappi Ltd Date of transaction : 10 December 2015 Nature of transaction : Purchase of shares (on market) using after tax proceeds of portion of 2015 annual bonus Number of shares purchased : 3 231 shares Purchase price per share : R60.65 Total value : R195 960.15 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : G T Pearce Company : Sappi Ltd Date of transaction : 10 December 2015 Nature of transaction : Exercise of rights to shares (off market) in terms of the Sappi Limited Share Option Scheme Number of shares : 6600 shares Purchase price/option strike : R52.57 price Total value : R346 962.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : G R Bowles Company (Subsidiary) : Sappi Southern Africa Date of transaction : 10 December 2015 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 2 December 2015 Number of rights : 24 200 shares exercised/shares sold Average selling price per share : R60.2106 (high R60.24;low R60.21) Total value : R1 457 096.52 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : G R Bowles Company (Subsidiary) : Sappi Southern Africa Date of transaction : 10 December 2015 Nature of transaction : Exercise of rights to shares (off market) in terms of the Sappi Limited Share Option Scheme Number of rights : 7700 shares exercised/shares sold Purchase price/option strike : R52.57 price Total value : R404 789.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : M Gardner Company (Subsidiary) : Sappi North America / Sappi Papier Holding Date of transaction : 10 December 2015 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 2 December 2015 Number of rights : 52 500 shares exercised/shares sold Average selling price per share : R60.1132 (high R60.30;low R60.60) Total value : R3 155 943.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Company Secretary’s name : S Manchester Company (Subsidiary) : Sappi North America Date of transaction : 10 December 2015 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 2 December 2015 Number of rights : 20 000 shares exercised/shares sold Average selling price per share : R60.2150 (high R60.25; low R60.21) Total value : R1 204 300.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : P B McGrady Company (Subsidiary) : Sappi Southern Africa Date of transaction : 10 December 2015 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 2 December 2015 Number of rights : 12 500 shares exercised/shares sold Average selling price per share : R63.00 Total value : R787 500.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Sponsor: UBS South Africa (Pty) Ltd Date: 11/12/2015 04:00:00 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.