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Information relating to the distribution of circular to Sappi shareholders
Sappi Limited
(Incorporated in the Republic of South Africa)
(Registration number 1936/008963/06
JSE share code: SAP
ISIN: ZAE000006284
"Sappi" or "the Company"
INFORMATION RELATING TO THE DISTRIBUTION OF CIRCULAR TO SAPPI SHAREHOLDERS
Sappi shareholders are referred to the announcement released on the Stock Exchange News Service of the JSE
Limited on 4 December 2025 wherein it was announced that the Company and UPM-Kymmene Corporation have
signed a non-binding Letter of Intent in relation to the possible formation of a joint venture for graphic paper in
Europe, subject to the fulfilment of a number of regulatory and other conditions precedent (the "Transaction").
The Transaction constitutes a Category 1 transaction for Sappi in terms of the JSE Listings Requirements, which is
required to be approved by an ordinary resolution of Sappi shareholders. This resolution will be set out in a notice
of general meeting, which will be included in the circular to be distributed to Sappi shareholders setting out all
information required in terms of the JSE Listings Requirements in respect of the Transaction (the "Circular").
Shareholders of Sappi are hereby advised that the JSE has granted the Company an extension in relation to the
date of distribution of the Circular, which is anticipated to be distributed on or about 30 April 2026.
Shareholders will be advised in due course of the salient dates and times relating to the Transaction and the
general meeting to be convened in order to consider and vote on the resolutions required in respect of the
Transaction.
2 February 2026
South African Corporate Advisor, Sponsor and Corporate Broker to Sappi
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
South African Legal Advisor to Sappi
BOWMANS
Date: 02-02-2026 03:29:00
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