Dealing in Securities by Directors and Company Secretaries 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 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 : 18 November 2020 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 : 18 November 2024 awards Class of security : Ordinary shares Extent of interest : Direct beneficial Page 2 of 2 NUMBER OF NOTIONAL SHARES VALUE * NAME COMPANY SUBJECT TO CONDITIONAL (R) AWARDS SR Binnie Sappi Limited 250 000 6 887 500 S Blyth Sappi Europe SA 40 000 1 102 000 M Boles Sappi Papier Holding 40 000 1 102 000 GR Bowles Sappi North America, Inc 110 000 3 030 500 D David Sappi Papier Holding 25 000 688 750 MG Haws Sappi North America, Inc 138 000 3 801 900 B Köhldorfer Sappi Papier Holding 15 000 413 250 A Mahendranath Sappi Limited (Company Secretary) 18 000 495 900 Sappi North America, Inc (Company 1 102 000 S Manchester 40 000 Secretary) MI Mansoor Sappi Papier Holding 80 000 2 204 000 FCS Marupen Sappi North America, Inc 92 000 2 534 600 P Moodley Sappi Southern Africa 40 000 1 102 000 J Pässler Sappi Papier Holding 40 000 1 102 000 GT Pearce Sappi Limited 115 000 3 168 250 B Riegler Sappi Papier Holding 15 000 413 250 AvC Thiel Sappi Southern Africa 138 000 3 801 900 M Van Hoven Sappi North America, Inc 107 000 2 947 850 S Wurdinger Sappi Europe SA 40 000 1 102 000 * Based on an implied price of R27.55 per share (closing price on 17 November 2020) 23 November 2020 Sponsor : UBS South Africa (Pty) Ltd Date: 23-11-2020 03:55:00 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.