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 VESTING 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 vesting 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 2018 participant Nature of transaction : Vesting of grants of conditional share awards in terms of the Sappi Limited Performance Share Incentive Plan Number of conditional share awards : Various, see table below granted Date of grant : 04 December 2014 Implied price : R77.00 (closing price on 03 December 2018) Vesting period : 4 years from date of grant Percentage of grants vested : 100% Class of security : Ordinary shares Extent of interest : Direct beneficial Page 2 of 2 DEA NUMBER OF NOTIONAL SHARES VALUE NAME COMPANY SUBJECT TO CONDITIONAL (R) AWARDS SR BINNIE Sappi Limited 175 000 13 475 000.00 M GARDNER Sappi North America / Sappi Papier Holding 100 000 7 700 000.00 B KOEHLDORFER Sappi Papier Holding 11 900 916 300.00 S MANCHESTER Sappi North America, Inc (Company Secretary) 29 000 2 233 000.00 P MOODLEY Sappi Southern Africa 5 000 385 000.00 J PÄSSLER Sappi Papier Holding 27 000 2 079 000.00 GT PEARCE Sappi Limited 85 000 6 545 000.00 AvC THIEL Sappi Southern Africa 100 000 7 700 000.00 M VAN HOVEN Sappi North America, Inc 80 000 6 160 000.00 BJ WIERSUM Sappi Papier Holding 100 000 7 700 000.00 Johannesburg 04 December 2018 Sponsor: UBS South Africa (Pty) Ltd Date: 04/12/2018 04:19:00 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.