Sappi provides updated outlook for fourth financial quarter ended 30 September 2022 Sappi Limited (Incorporated in the Republic of South Africa) Registration number: 1936/008963/06 JSE share code: SAP ISIN: ZAE000006284 ("Sappi" or the "Company") Sappi provides updated outlook for fourth financial quarter ended 30 September 2022 Sappi issued on 4 August 2022 via the Stock Exchange News Service of the JSE an announcement entitled “Third quarter results for the period ended June 2022”. Such announcement included an outlook statement for Sappi’s fourth financial quarter ended 30 September 2022. The guidance indicated: “Notwithstanding inflationary cost pressures, we are anticipating another strong performance in the fourth quarter, with EBITDA below the record levels achieved in the third quarter”. The Company wishes to advise that during the fourth quarter market conditions were stronger than expected while European energy prices, principally gas, were lower than anticipated. Consequently, we are now anticipating that the EBITDA excluding special items for the fourth quarter ended 30 September 2022 will be above the levels achieved in the third quarter ended June 2022. As per the published schedule, full financial statements for the fourth quarter and financial year ended 30 September 2022 will be issued on 10 November 2022. The information contained in this trading update has not been reviewed or audited by the Company’s external auditors. 10 October 2022 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 10-10-2022 07:05:00 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.