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

SASOL PRESIDENT AND CHIEF EXECUTIVE OFFICER

FLEETWOOD GROBLER

SASOL CHIEF FINANCIAL OFFICER

HANRÉ ROSSOUW

2023 INTERIM FINANCIAL RESULTS PRESENTATION

LIVE WEBCAST SCRIPT

TUESDAY, 21 FEBUARY 2023

JOHANNESBURG

SLIDES 1 - 3: Cover | Agenda | Forward-looking Statements

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

SLIDE 4: BUSINESS OVERVIEW

Good day everyone and welcome to our interim financial results update for 2023.

For the past six months, we've again been living through a period of extraordinary volatility. During that time, we've had several key factors, notably the oil price, that have continued to be supportive. However, other factors such as feedstock costs, chemical prices and slowing demand created substantial headwinds. We've also faced ongoing challenges in our South African business, both within and beyond our control.

All of these factors combine for a complex picture and a mixed set of results that is important to unpack in some detail, which we will do today. This changing environment also calls for a revised operational mitigation plan, which I will elaborate on.

Looking at our Future Sasol aspirations, I am particularly delighted by the key advancements made in our decarbonisation journey, reflected in several renewable energy power purchase agreements, recently concluded and many other at an advanced stage.

Overall, the first six months of 2023 has been a challenging time, but I am confident Sasol has gripped the challenges that are within our control. I would like to recognise our people for facing these issues head on, as we continue to stabilise and improve our performance.

SLIDE 5: Business highlights for HY23

Before we get into the detail, I would like to start by covering some of the key developments, across the People, Planet and Profit framework over the last six months.

Safety, as ever, is our first priority and I am pleased to say that we have been fatality free, since October 2021. We also sustained a recordable case rate of 0.27 for the period, which has remained flat compared to financial year 22. There is no room for complacency, and we continue to keep safety at the core of people's focus.

We remain mindful of our responsibility to be a good corporate citizen, and have invested 780 million rand on socio-economic and skills development programmes.

On our Planet pillar, the first half of the financial year has seen some key developments. In South Africa, we have concluded a total of around 550 megawatts of renewable energy power purchase agreements, a significant increase to the 289 MW, announced earlier this year, paving the way for large-scale renewables integration, into our value chain.

Meanwhile, in Mozambique, our gas drilling campaign is continuing ahead of plan, which gives us more feedstock flexibility up to 2030. These are critical steps towards meeting our 30% GHG reduction target by the end of the decade.

On the profit pillar, it's been a mixed performance as a result of a combination of macro-economic and operational factors. Our focus is twofold, firstly to improve the quality and stability of coal supply in our South African operations and secondly, to make the business as efficient as possible in order to navigate the areas that are seeing pressure from pricing and reduced demand.

Despite considerable volatility over the period, the Board declared an interim dividend of 7 Rand per share, in line with our dividend policy. Capital allocation discipline remains a key priority for us.

I will now further unpack our half year performance for 2023.

SLIDE 6: Committed to zero harm ambition

Turning to Safety, there were NO fatalities for the first six months of the financial year.

We have made good progress in embedding our safety principles across operations during the period, but we all recognise the need for a relentless commitment and focus on safety.

The need for that ongoing focus was highlighted, by two High Severity Injuries, and although we've seen the twelve-month rolling High Severity

Injury Rate decreasing, from 16 at the end of June 22 to 7.6 at end December 22, we must keep striving to get this to zero.

We also saw an increase in the number of lost workday cases in the period, resulting from elevated risks, which are playing out across our business. This mainly includes the number of security related incidents, related to movement of product and mining operations, which is something we are taking very seriously.

Another important safety metric we measure, among others, is the occurrence of Fire, Explosion and Release incidents. For the six months, we had one major incident which is related to the fire, at the Lake Charles Ziegler unit. Our on-site emergency response team responded swiftly, and the fire was contained with no injuries or reportable releases to the environment reported.

We are also seeing a reduction in the number of Environmental incidents in our operations. This is a pleasing trend for the business, given the complexity of our operations and the high number of activities, particularly, during the total shutdown period in Secunda Operations.

The recent total shutdown was a major planned maintenance event, which historically takes place every 4 years, on each side of the facility involving nearly 50,000 workers and contractors on site, doing extensive inspections and maintenance work. Congratulations to the Secunda team for completing this year's shutdown safely, on budget, and with minimal schedule delays.