Granting of conditional share awards 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 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, 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 : 9 December 2016 (to 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 : 9 December 2020 awards Class of security : Ordinary shares Extent of interest : Direct beneficial Page 2 of 2 NUMBER OF NOTIONAL SHARES NAME COMPANY SUBJECT TO VALUE * CONDITIONAL AWARDS (R) SR BINNIE Sappi Limited 162 000 13 727 880.00 SJ BLYTH Sappi Papier Holding 27 000 2 287 980.00 GR BOWLES Sappi Southern Africa 75 000 6 355 500.00 M GARDNER Sappi North America / Sappi Papier Holding 90 000 7 626 600.00 M HAWS Sappi North America 26 000 2 203 240.00 TS HAWKES Sappi Southern Africa 21 000 1 779 540.00 NN MAELANE Sappi Southern Africa 26 000 2 203 240.00 S MANCHESTER Sappi North America (Company Secretary) 26 000 2 203 240.00 F MARUPEN Sappi Southern Africa / Sappi North America 60 000 5 084 400.00 PB McGRADY Sappi Southern Africa 27 000 2 287 980.00 W MORROW Sappi Papier Holding 8 300 703 342.00 J PÄSSLER Sappi Papier Holding 27 100 2 296 454.00 GT PEARCE Sappi Limited 75 000 6 355 500.00 TK STANGER Sappi Southern Africa 30 000 2 542 200.00 AvC THIEL Sappi Southern Africa 90 000 7 626 600.00 AJ TREGONING Sappi Limited (Company Secretary) 25 100 2 126 974.00 GM VAN AARDE Sappi Southern Africa 21 000 1 779 540.00 M VAN HOVEN Sappi Southern Africa / Sappi North America 70 000 5 931 800.00 R WELLS Sappi Southern Africa 27 000 2 287 980.00 BJ WIERSUM Sappi Papier Holding 90 000 7 626 600.00 * Based on an implied price of R84.74 per share (closing price on 8 December 2016) 9 December 2016 Sponsor: UBS South Africa (Pty) Ltd Date: 09/12/2016 04:45:00 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.