SUSTAINABLE LASTING TRANSFORMATION

We believe transformation will fuel our company and our country, gearing it for growth and development on a global scale. For this reason, Sasol’s goal, through several initiatives, is to achieve at least a Level 4 BEE certification by 2020. That is why we are redefining our empowerment landscape by adopting a multi-faceted approach, with components aimed at increasing skills development, participation in management control and ownership for Black South Africans.

This new structure offers sustainable and lasting transformation through the ownership of Sasol by Black South Africans.

The eligible participants comprise the following groups:

• Black permanent employees;
• Eligible Sasol Inzalo employee participants;
• Existing Sasol Inzalo Public and Groups shareholders;
• Existing Sasol BEE Ordinary shareholders (SOLBE1) that trade on the empowerment segment of the JSE

To accelerate transformation in Sasol, the ownership model has been designed so that Sasol South Africa shares can be exchanged for Sasol BEE Ordinary (SOLBE1) shares, listed on the empowerment segment of the Johannesburg Stock Exchange (JSE) at the end of the 10-year period (2028) or when the funding has been repaid.

The JSE’s Empowerment Segment allows Black participants to buy and sell shares in a transparent and regulated environment, specially tailored to the unique requirements of B-BBEE share schemes. This listing also increases liquidity for investors and allows shareholders to realise the value of their investments through a public trading platform.

Sasol Khanyisa will own an approximately 25% shareholding in Sasol South Africa (SSA), which is a wholly owned subsidiary of Sasol Limited. Sasol South Africa is Sasol’s largest operating entity.

• The shares in Sasol South Africa, which the Sasol Khanyisa Public will indirectly hold, are currently worth approximately R320 per share, will be funded by Sasol;
• This funding will be paid off using dividends declared by Sasol South Africa over the maturity period being up to 10-years; therefore, the majority of dividends declared will not be paid directly to participants until the funding has been settled;
• Once the funding is settled, the Sasol Khanyisa Ordinary shares will be exchanged for Sasol BEE Ordinary (SOLBE1) shares listed on the empowerment segment of the JSE.