Dealing in Securities by Directors and Company Secretary 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’) 20 December 2017 DEALINGS IN SECURITIES BY DIRECTORS AND COMPANY SECRETARY 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 and company secretary 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 : S R Binnie Company : Sappi Ltd Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 68 000 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R6 310 393.20 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : B Koehldorfer Company (Subsidiary) : Sappi Papier Holding GmbH Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 6 000 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R556 799.40 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : P Moodley Company (Subsidiary) : Sappi Southern Africa Limited Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 5 200 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R482 559.48 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : W Morrow Company (Subsidiary) : Sappi Papier Holding GmbH Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 5 200 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R482 559.48 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : J Pässler Company (Subsidiary) : Sappi Papier Holding GmbH Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 27 000 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R2 505 597.30 Class of security : Ordinary shares Extent of interest : Direct beneficial Company Secretary’s name : G T Pearce Company : Sappi Limited Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 15 345 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R1 424 014.46 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : A Thiel Company (Subsidiary) : Sappi Southern Africa Limited Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 110 000 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R10 207 989.00 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : A Tregoning (Company Secretary) Company : Sappi Limited Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 15 000 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R1 391 998.50 Class of security : Ordinary shares Extent of interest : Direct beneficial Director’s name : M van Hoven Company (Subsidiary) : S.D. Warren Company (Sappi North America) Date of transaction : 19 December 2017 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards as per SENS announcement issued by Sappi Ltd on 14 December 2017 Number of shares sold : 41 850 shares Volume weighted average : R92.7999 (high R95.33; low R91.00) selling price per share Total value : R3 883 675.81 Class of security : Ordinary shares Extent of interest : Direct beneficial Sponsor: UBS South Africa (Pty) Ltd Date: 20/12/2017 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. 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