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 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 (“Requirements”), 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 and company secretary. The necessary authority in terms of paragraph 3.66 of the Requirements was obtained and these were off-market transactions: Date of notification of transaction to : 04 December 2017 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 : 04 December 2021 awards Class of security : Ordinary shares Extent of interest : Direct beneficial A NUMBER OF NOTIONAL SHARES NAME COMPANY SUBJECT TO VALUE * CONDITIONAL AWARDS (R) SR BINNIE Sappi Limited 137 000 13 352 020.00 SJ BLYTH Sappi Papier Holding 22 000 2 144 120.00 M GARDNER Sappi North America / Sappi Papier Holding 76 000 7 406 960.00 S MANCHESTER Sappi North America (Company Secretary) 22 000 2 144 120.00 F MARUPEN Sappi North America 51 000 4 970 460.00 P MOODLEY Sappi Southern Africa 22 000 2 144 120.00 J PÄSSLER Sappi Papier Holding 23 000 2 241 580.00 GT PEARCE Sappi Limited 63 000 6 139 980.00 AvC THIEL Sappi Southern Africa 76 000 7 406 960.00 AJ TREGONING Sappi Limited (Company Secretary) 15 000 1 461 900.00 M VAN HOVEN Sappi North America 59 000 5 750 140.00 BJ WIERSUM Sappi Papier Holding 76 000 7 406 960.00 Based on an implied price of R97.46 per share (closing price on 01 December * 2017) Sponsor: UBS South Africa (Pty) Ltd 07 December 2017 Date: 07/12/2017 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.