Dealing in securities by directors and company secretaries 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 SECRETARIES 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 : 19 November 2018 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 : 19 November 2022 awards Class of security : Ordinary shares Extent of interest : Direct beneficial Page 2 of 2 A NUMBER OF NOTIONAL SHARES NAME COMPANY SUBJECT TO VALUE * CONDITIONAL AWARDS (R) SR BINNIE Sappi Limited 142 000 11 445 200.00 M GARDNER Sappi North America / Sappi Papier Holding 79 000 6 367 400.00 B KOEHLDORFER Sappi Papier Holding 7 500 604 500.00 A MAHENDRANATH Sappi Limited (Company Secretary) 9 200 741 520.00 S MANCHESTER Sappi North America, Inc (Company Secretary) 23 000 1 853 800.00 F MARUPEN Sappi North America. Inc 53 000 4 271 800.00 P MOODLEY Sappi Southern Africa 23 000 1 853 800.00 J PÄSSLER Sappi Papier Holding 24 000 1 934 400.00 GT PEARCE Sappi Limited 65 000 5 239 000.00 AvC THIEL Sappi Southern Africa 79 000 6 367 400.00 M VAN HOVEN Sappi North America, Inc 61 000 4 916 600.00 BJ WIERSUM Sappi Papier Holding 79 000 6 367 400.00 Based on an implied price of R 80.60 per share (closing price on 16 November * 2018) Johannesburg 23 November 2018 Sponsor: UBS South Africa (Pty) Ltd Date: 23/11/2018 09:54:00 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.