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 VESTING OF CONDITIONAL SHARE AWARDS GRANTED TO DIRECTORS OF A 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, its major subsidiary companies and company secretary. 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 : 7 December 2016 (date participants informed of vesting) Number of conditional : Various, see table below Share awards granted Date of grants : 7 December 2012 Implied price : R82.06 per share (closing price on 6 December 2016) Vesting period : 4 years from date of grant Percentage of grants : 100% vested Class of security : Ordinary shares Extent of interest : Direct beneficial Page 1 of 5 Director’s name : S R Binnie Company of which he is a : Sappi Limited director Number of grants vested Value R 100 000 R8 206 000.00 Director’s name : G R Bowles Company of which he is a : Sappi Southern Africa director Number of grants vested Value R 39 000 R3 200 340.00 Director’s name : M Gardner Company of which he is a : Sappi North America director Number of grants vested Value R 114 000 R9 354 840.00 Director’s name : T Hawkes Company of which he is a : Sappi Southern Africa director Number of grants vested Value R 20 000 R1 641 200.00 Director’s name : N N Maelane Company of which he is a : Sappi Southern Africa director Number of grants vested Value R 26 000 R2 133 560.00 Page 2 of 5 Director’s name : S Manchester (Company Secretary) Company of which she is a : Sappi North America director Number of grants vested Value R 37 000 R3 036 220.00 Director’s name : P B McGrady Company of which he is a : Sappi Southern Africa director Number of grants vested Value R R3 200 340.00 39 000 Director’s name : C M Mowatt Company of which he is a : Sappi Southern Africa director Number of grants vested Value R 29 000 R2 379 740.00 Director’s name : G T Pearce Company of which he is a : Sappi Limited, Sappi North America, director Sappi Southern Africa Number of grants vested Value R 35 000 R2 872 100.00 Page 3 of 5 Director’s name : A Rossi Company of which he is a : Sappi Southern Africa director Number of grants vested Value R 85 500 R7 016 130.00 Director’s name : A Thiel Company of which he is a : Sappi Southern Africa director Number of grants vested Value R 100 000 R8 206 000.00 Director’s name : A J Tregoning (Company Secretary) Company of which she is a : Sappi Limited director Number of grants vested Value R 12 000 R984 720,00 Director’s name : G M van Aarde Company of which he is a : Sappi Southern Africa director Number of grants vested Value R 26 000 R 2 133 560.00 Page 4 of 5 Director’s name : M van Hoven Company of which he is a : Sappi North America, Sappi Southern Africa director Number of grants vested Value R 60 000 R4 923 600.00 Director’s name : R Wells Company of which he is a : Sappi Southern Africa director Number of grants vested Value R 7 200 R590 832.00 Director’s name : B Wiersum Company of which he is a : Sappi Europe director Number of grants vested Value R 100 000 R8 206 000.00 7 December 2016 Sponsor: UBS South Africa (Pty) Ltd Date: 07/12/2016 05:00:00 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.