Dealing in securities by a director 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”) DEALING IN SECURITIES BY A DIRECTOR Vesting and sale of conditional share awards granted to a director of a listed company In terms of paragraph 3.63 of the Listings Requirements ("Requirements") of the JSE Limited, we hereby provide the following information regarding the vesting of conditional share awards granted by Sappi to the undermentioned director of the Company and the sales of shares to settle the tax liability. The necessary authority in terms of paragraph 3.66 of the Requirements was obtained. Director’s name : Mr SR Binnie Company of which he is : Sappi Limited a director Nature of transaction : Vesting of grants of conditional share awards in terms of the Sappi Limited Performance Share Incentive Trust (off market) Date of transaction : 27 June 2018 Number of conditional : 200 000 (as per SENS announcement dated 27 June 2014) Share awards granted Date of grant : 27 June 2014 Implied price : R 87.17 per share (closing price on 26 June 2018) Vesting period : 4 years from date of grant Percentage of grants : 100% vested Class of security : Ordinary shares Extent of interest : Direct beneficial Page 2 of 2 Date of transaction : 27 June 2018 Nature of transaction : Sale of shares (on market) to settle tax liability arising from vesting of conditional share awards Number of shares sold : 122 000 shares Volume weighted average : R88,7434 (high R91.00; low R87.17) selling price per share Total value : R10 826 694,80 Class of security : Ordinary shares Extent of interest : Direct beneficial Johannesburg 29 June 2018 Sponsor : UBS South Africa (Pty) Ltd Date: 29/06/2018 02:45:00 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.