SAPPI LIMITED - Dealing in securities by directors and company secretaries

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")


23 November 2021

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 2021
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 2025
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                                        180 000     7 484 400
      S     Blyth              Sappi Europe SA                                      30 000      1 247 400
      GR    Bowles             Sappi North America, Inc                             80 000      3 326 400
      D     David              Sappi Papier Holding                                 18 000        748 440
      M     Eikelenboom        Sappi Papier Holding                                 100 000     4 158 000
      MG    Haws               Sappi North America, Inc                             100 000     4 158 000
      B     Köhldorfer         Sappi Papier Holding                                 11 200        465 696
      A     Mahendranath       Sappi Limited (Company Secretary)                    14 000        582 120
                               Sappi North America, Inc (Company                                1 247 400
      S     Manchester                                                                30 000
                               Secretary)
      MI    Mansoor            Sappi North America, Inc                              60 000     2 494 800
      FCS   Marupen            Sappi North America, Inc                              68 000     2 827 440
      P     Moodley            Sappi Southern Africa                                 30 000     1 247 400
      J     Pässler            Sappi Papier Holding                                  30 000     1 247 400
      GT    Pearce             Sappi Limited                                         85 000     3 534 300
      B     Riegler            Sappi Papier Holding                                  11 200       465 696
      AvC   Thiel              Sappi Southern Africa                                 100 000    4 158 000
      M     Van Hoven          Sappi North America, Inc                              80 000     3 326 400
      S     Wurdinger          Sappi Europe SA                                       30 000     1 247 400
        *   Based on an implied price of R41.58 per share (closing price on 18 November 2021)




           Sponsor : UBS South Africa (Pty) Ltd

Date: 23-11-2021 09:00:00
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