SAPPI LIMITED - Dealing in securities by directors and company secretaries

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 2019
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 2023
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)
    S R Binnie            Sappi Limited                                   156 000     5 909 280.00
    S     Blyth           Sappi Europe SA                                  25 000       947 000.00
    G R Bowles            Sappi North America, Inc                         71 000     2 689 480.00
    M G Haws              Sappi North America / Sappi Papier Holding       86 000     3 257 680.00
    B     Köhldorfer      Sappi Papier Holding                              8 500       321 980.00
    A     Mahendranath    Sappi Limited (Company Secretary)                10 000       378 800.00
    S     Manchester      Sappi North America, Inc (Company Secretary)     25 000       947 000.00
    M I Mansoor           Sappi North America, Inc                         50 000     1 894 000.00
    F C S Marupen         Sappi North America, Inc                         58 000     2 197 040.00
    P     Moodley         Sappi Southern Africa                            25 000       947 000.00
    J     Pässler         Sappi Papier Holding                             25 000       947 000.00
    G T Pearce            Sappi Limited                                    71 000     2 689 480.00
    B     Riegler         Sappi Papier Holding                              8 500       321 980.00
    A v C Thiel           Sappi Southern Africa                            86 000     3 257 680.00
    M     Van Hoven       Sappi North America, Inc                         67 000     2 537 960.00
    B J Wiersum           Sappi Papier Holding/Sappi Europe SA             86 000     3 257 680.00
    S     Wurdinger       Sappi Europe SA                                  25 000       947 000.00
          Based on an implied price of R37.88 per share (closing price on 18 November
      * 2019)

22 November 2019
Johannesburg

Sponsor: UBS South Africa (Pty) Ltd

Date: 22/11/2019 04:30:00
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