Sasol : response to Solidarity dispute regarding Sasol Khanyisa

Johannesburg, South Africa - On 1 June 2018, Sasol Khanyisa, Sasol's new R21 billion Broad-Based Black Economic Empowerment (B-BBEE) ownership structure, will be implemented to achieve effective direct and indirect B-BBEE ownership of at least 25% in Sasol South Africa, a wholly-owned subsidiary of Sasol.

Sasol's intention is not to create a divide between its Black and White employees, but to participate in the transformation of the South African economy, to the benefit of all citizens.

In line with our values, we view transformation as a strategic, business and social imperative - it is the right thing to do. As a company proudly rooted in our South African heritage, we embrace our transformation objectives.

Broad-Based Black Economic Empowerment (B-BBEE) is a key enabler for economic transformation and inclusive growth, which is important for South Africa's long term sustainability.

B-BBEE is aimed at redressing the imbalances of the past by seeking to substantially and equitably transfer the ownership, management and control of South Africa's financial and economic resources to the majority of its citizens. This is in order to ensure broader and meaningful participation in the economy by all citizens and especially Black South African citizens (African, Indian, Coloured who were previously excluded from such participation) to achieve sustainable development and prosperity.

The programme does not aim to take wealth from one race group and give it to another. It is essentially an economic growth strategy, targeting the South African economy's weakest point: inequality.

When Sasol Inzalo was initiated in 2008, the transaction had key qualifying criteria for employees:

• Permanent South African employees in non-managerial positions; and
• Black Permanent South African employees in managerial positions

Sasol Khanyisa also has key qualifying criteria for employees:

• Eligible Inzalo employees are those who are actively employed by Sasol on 18 May 2018, which includes the White Inzalo participants; and
• Black (African, Indian, Coloured) permanent employees

For those that are unable to participate in the new transaction, Sasol offers many incentives and benefits as part of its Employee Value Proposition, which are available to all race groups.