Sappi Limited Sappi Limited (Incorporated in the Republic of South Africa) Registration number: 1936/008963/06 JSE share code: SAP ISIN: ZAE000006284 ("Sappi" or the "Company") Sale of three European mills by Sappi to Aurelius will not proceed. Agreement on suspensive conditions not reached Sappi informs stakeholders that the date for completion of the suspensive conditions contained in the agreement to sell three European Graphic Paper mills to Aurelius has lapsed and therefore the transaction will not proceed. Shareholders are referred to the announcement released on the Stock Exchange News Service on 29 September 2022 wherein it was advised that Sappi concluded an agreement with Aurelius Investment Lux One S.à.r.l. (“Aurelius”), to divest its Maastricht Mill in the Netherlands, its Stockstadt Mill in Germany and its Kirkniemi Mill in Finland (the “Transaction”). The Transaction was classified as a category 2 transaction in terms of the JSE Listings Requirements and there were no related parties involved. The Transaction was subject to the fulfilment of various conditions precedent including the conclusion of a separation and transitional services plan between Sappi and Aurelius to the satisfaction of both parties to be fulfilled by the long stop date. Regretfully, and notwithstanding extensive efforts by Sappi to structure a reasonable deal, the parties could not conclude the suspensive conditions and therefore the Transaction has lapsed. Sappi will continue to execute its strategy to reduce its exposure to graphic paper and will review its strategic options regarding these mills. 14 April 2023 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited)