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’) 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. The dealings were on-market and clearance for the dealings were received in terms of Listings Requirement 3.66, as follows: Director’s name : S Blyth Company (Subsidiary) : Sappi Papier Holdings Date of transaction : 13 December 2016 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share plan awards as per SENS announcement previously issued by Sappi Limited Number of shares sold : 12 000 shares Selling price per share : R87.42 Total value : R1 049 040.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Page 1 of 4 Director’s name : R Wells Company (Subsidiary) : Sappi Southern Africa Limited Date of transaction : 13 December 2016 Nature of transaction : Sale of shares (on-market) arising from exercise of rights to vested shares in terms of the Sappi Limited Share Option Scheme Number of rights : 8 000 exercised/shares sold Selling price per share : R87.00 Total value : R696 000.00 Director’s name : D van Aarde Company (Subsidiary) : Sappi Southern Africa Limited Date of transaction : 14 December 2016 Nature of transaction : Sale of shares (on-market) Number of shares sold : 5 000 Selling price per share : R88.00 Total value : R440 000.00 Page 2 of 4 Director’s name : M Gardner Company (Subsidiary) : Sappi North America Date of transaction : 13 December 2016 Nature of transaction : On-market purchase of shares Number of shares purchased : 13 200 Volume weighted average : R86.3489 (high: R86.52; low: R86.12) purchase price per share: Total value : R 1 139 805.48 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : M van Hoven Company (Subsidiary) : Sappi Southern Africa/Sappi North America Date of transaction : 14 December 2016 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement previously issued by Sappi Ltd Number of shares purchased : 23 500 Selling price per share: : R87. 80 Total value : R 2 063 300.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Page 3 of 4 Shareholders are also referred to the director’s dealing announcement released on SENS on 12 December 2016 where it was disclosed that T Hawkes had sold 70000 shares instead of 7000 shares on 9 December 2016. Shareholders are advised to disregard the previous announcement in this regard and to refer to the information below: Director’s name : T Hawkes Company (Subsidiary) : Sappi Southern African Limited Date of transaction : 9 December 2016 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement previously issued by Sappi Ltd Number of shares sold : 7 000 shares Average weighted selling price : R85.00 per share Total value : R595 000.00 Class of security : Ordinary shares Extent of interest : Direct beneficial 15 December 2016 Sponsor: UBS South Africa (Pty) Ltd Date: 15/12/2016 12:00:00 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.