SAPPI LIMITED - Report on proceedings at the annual general meeting

Report on proceedings at the annual general meeting

Sappi Limited
(Incorporated in the Republic of South Africa)
(Registration number 1936/008963/06
JSE share code: SAP
ISIN: ZAE000006284
("Sappi" or "the Company")

REPORT ON PROCEEDINGS AT THE ANNUAL GENERAL MEETING

At the eighty eighth annual general meeting ("AGM") of the shareholders of Sappi held on Wednesday, 5 February 2025 all the ordinary and special resolutions
proposed at the meeting were approved by the requisite majority of votes. In this regard, the Company confirms the voting statistics from the AGM as follows:

                                                                   Votes cast disclosed as a          Number of           Shares voted         Shares abstained
                                                                  percentage in relation to the      shares voted        disclosed as a          disclosed as a
                                                                 total number of shares voted                            percentage in           percentage in
Resolutions^                                                             at the AGM                                     relation to the      relation to the total
                                                                 For              Against                                  total issued         issued shares*
                                                                                                                             shares*       
                                                                                                                             
Ordinary resolution number 1 – Re-election of Mr SR Binnie as    100.00            0.00             547,992,633                 90.63               0.00
a director of Sappi
Ordinary resolution number 2 – Re-election of Mr B Beamish       100.00            0.00             547,992,633                 90.63               0.00
as a director of Sappi
Ordinary resolution number 3 – Re-election of Mr J Lopez as a    100.00            0.00             547,992,633                 90.63               0.00
director of Sappi
Ordinary resolution number 4 – Re-election of Mr GT Pearce       99.66             0.34             547,992,633                 90.63               0.00
as a director of Sappi
Ordinary resolution number 5 – Election of Ms ZN Malinga as      99.46             0.54             547,992,633                 90.63               0.00
a member and chairperson of the Audit and Risk Committee
Ordinary resolution number 6 – Election of Dr B Mehlomakulu      90.63             9.37             547,992,633                 90.63               0.00
as a member of the Audit and Risk Committee
Ordinary resolution number 7 – Election of Mr RJM Renders        74.88            25.12             547,992,633                 90.63               0.00
as a member of the Audit and Risk Committee
Ordinary resolution number 8 – Election of Mr LL von Zeuner      99.93             0.07             547,992,633                 90.63               0.00
as a member of the Audit and Risk Committee
Ordinary resolution number 9 – Election of Ms E Istavridis as a  99.99             0.01             547,992,633                 90.63               0.00
member of the Audit and Risk Committee
Ordinary resolution number 10 – Re-appointment of KPMG Inc       99.92             0.08             547,992,633                 90.63               0.00
as auditors of Sappi for the financial year ending September
2025 and until the conclusion of the next annual general
meeting of Sappi
Ordinary resolution number 11 - Non-binding endorsement of       92.36             7.64             547,991,313                 90.63               0.00
remuneration policy
Ordinary resolution number 12 - Non-binding endorsement of       94.68             5.32             547,991,313                 90.63               0.00
remuneration implementation report
Ordinary resolution number 13 – Amendments to the current        99.67             0.33             471,513,954                 77.98               0.00
Rules of the Sappi Limited Performance Share Incentive Plan
Special resolution number 1 - Non-executive directors' fees      98.55             1.45             547,992,633                 90.63               0.00
Special resolution number 2 – Loans or other financial           99.39             0.61             547,992,633                 90.63               0.00
assistance to related or inter-related companies
Special resolution number 3 - General authority to repurchase    79.89            20.11             547,973,832                 90.63               0.00
shares
Ordinary resolution number 14 - Authority for directors and      100.00            0.00             547,992,633                 90.63               0.00
Group Company Secretary to sign all documents and do all
such things necessary or reasonably desirable for or incidental
to the implementation of the above resolutions

*Total issued shares: 604,641,463

^The special resolutions will, where necessary, be lodged for registration with the Companies and Intellectual Property Commission in due course.

6 February 2025

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 06-02-2025 02:30:00
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