Sasol : President and CEO and CFO Interim Results Announcement, as delivered

SASOL PRESIDENT AND CHIEF EXECUTIVE OFFICER

FLEETWOOD GROBLER

SASOL CHIEF FINANCIAL OFFICER

PAUL VICTOR

2022 INTERIM FINANCIAL RESULTS PRESENTATION

PRE-RECORDED SCRIPT

MONDAY, 21 FEBRUARY 2022

JOHANNESBURG

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SLIDE 1 to 2: Cover | Forward-looking Statements

Voice over: Introduction of the results presentation covering the agenda/introduction of speakers and reference to forward-looking statements.

SLIDE 3: Business overview

Good day and welcome to our financial results presentation.

The past two years have seen businesses faced with significant social, business and macroeconomic challenges as a result of the global COVID-19 pandemic.

Despite the current uncertainty playing out, there are clear signs of recovery to pre-pandemic levels.

Sasol has benefitted from this recovery, and our first half financial performance has been underpinned by a favourable macroeconomic environment, with higher product prices and stronger demand.

These factors resulted in a notable gross margin improvement from the prior half year, combined with strong cost and capital expenditure performance. These benefits were, however, partly offset, by operational challenges in our South African value chains which resulted in lower production.

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SLIDE 4: Progressing our 4 key business priorities

For the past six months there are four key business priorities we have progressed.

I will start with safety. We are deeply saddened by the five workplace fatalities which occurred during the reporting period. Let me again express our heartfelt condolences to the families of Themba Masilela, Moses Hlongoane, Takalani Masha, Gansen Naidoo and Lebogang Lebepe.

Any loss of life is unacceptable, and we are gravely concerned by the deterioration in our safety performance, especially, given the significant improvement we recorded last year.

We are redoubling our efforts with focused interventions. Safety is our top priority and we are fully committed to turning the tide, to ensure our people return home to their families unharmed, at the end of each day.

On operational excellence, we defined Sasol 2.0, reset our operating model and delivered a strong ramp up in our US specialty chemicals. The lower production from our South African operations during the period, has been disappointing.

Our focus here is to continue delivering our Sasol 2.0 objectives, instituting sustainable competitive improvements, across our value chains by the end of financial year 2025. However, in the short term, we are prioritising the business recovery of our South African operations. Our commitment, to manage our cost competitiveness of our SA

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integrated value chain, cash breakeven level to between 30 and 35 US dollars per barrel throughout the period, stands.

Looking at ESG, our climate change strategy is in place, with confirmed medium and long-term targets, which has defined plans to accelerate the decarbonisation of our business. We have also announced and are progressing several partnerships, to realise our ambitions.

Our focus is to continue progressing the shift, to incremental natural gas as a transition feedstock for our SA value chain, as well as advancing sustainable aviation fuel, green hydrogen and renewable energy opportunities.

The fourth priority, shareholder value delivery, has seen us continue to progress our balance sheet reset and refine our capital allocation framework. Our focus here, is to restore the dividend as soon as we are confident that we can do so on a sustainable basis, while concluding the few remaining asset divestments, still awaiting regulatory approvals.

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SLIDE 5: Progressing sustainable safety improvement

We are working hard to embed safety and operational discipline, as the foundation in Sasol, so that we provide an enduringly safe working environment, for all our people.

Following our recent tragic fatality incidents, we have identified additional leadership focus areas which are receiving our highest priority, to augment our existing High Severity Incident programme and to create an enabling environment for risk ownership, operational discipline and care, and best-in-class assurance systems for our operating environments.

Among leaders, our focus is to instil a work environment where a high level of order, care and empathy prevails, with consistent enforcement of health and safety measures, combined with appropriate consequence management.

Active leadership involvement in the risk management process is key. This includes risk identification and the management thereof, confirming the competency levels of task executors and first line supervision before the execution of high-risk tasks.

These measures demonstrate that we are certainly placing greater emphasis on a dedicated leader-championed safety culture. Alongside this, our people must fully engage and comply with all safety rules and procedures, to speak up, report and stop unsafe work immediately - if that is required.

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