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Copyright ©, 2025, Sasol CAPITAL MARKETS DAY May 2025
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2Copyright ©, 2025, Sasol Today’s speakers Agenda Opening remarks Muriel Dube Our strategy to Strengthen, Grow and Transform Simon Baloyi Robust Financial Framework Walt Bruns Reset International Chemicals Antje Gerber Grow and Transform Sarushen Pillay Restore Southern Africa Victor Bester
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3Copyright ©, 2025, Sasol Sasol may, in this document, make certain statements that are not historical facts that relate to analyses and other information which are based on forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, expectations, developments and business strategies. Words such as “believe”, “anticipate”, “expect”, “intend", “seek”, “will”, “plan”, “could”, “may”, “endeavour”, “target”, “forecast” and “project” and similar expressions are intended to identify such forward-looking statements but are not the exclusive means of identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect, our actual results may differ materially from those anticipated. You should understand that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully in our most recent annual report on Form 20-F filed on 6 September 2024 and in other filings with the United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive; when relying on forward-looking statements to make investment decisions, you should carefully consider both these factors and other uncertainties and events, and you should not place undue reliance on forward-looking statements. Forward-looking statements apply only as of the date on which they are made and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. Forward looking statements, financial information and targets included in this presentation have not been reviewed or reported on by Sasol's auditors. Comprehensive additional information is available on our website: www.sasol.com Disclaimer - Forward-looking statements These statements may also relate to our future prospects, expectations, developments and business strategies
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4Copyright ©, 2025, Sasol 44 Copyright ©, 2025, Sasol OPENING REMARKS "We are committed to building a resilient, competitive and sustainable Future Sasol - unlocking the potential from our foundation, responsibly navigating the energy transition and delivering value to all our stakeholders" Muriel Dube Independent non-Executive Director and Chairman of the Board
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5Copyright ©, 2025, Sasol 55 Copyright ©, 2025, Sasol OUR STRATEGY TO STRENGTHEN, GROW AND TRANSFORM ◎ Strategic overview ◎ Strengthen the foundation ◎ Grow and Transform our business Simon Baloyi President and Chief Executive Officer
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6Copyright ©, 2025, Sasol Reshaping for a new era
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7Copyright ©, 2025, Sasol Strengthen our foundation Levers to unlock additional value Clear targets, and plans with real progress Positioning to grow and transform Robust financial framework 01 02 03 04 05 What you will hear today Safety is the foundation of all we do
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8Copyright ©, 2025, Sasol Driving performance to unlock shareholder value Our strategy | Strengthening today, building a sustainable tomorrow ▪ More efficient organisation ▪ Resilient Southern Africa ▪ Unlocking potential in International Chemicals ▪ Transforming into a more sustainable business ▪ 30% GHG reduction by 20301 ▪ ERR: Lower capital and no turndown2 STRENGTHEN OUR FOUNDATION GROW AND TRANSFORM OUR BUSINESS 1. Off the 2017 base 2. ERR no longer limits Secunda production
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9Copyright ©, 2025, Sasol Strengthen | A more agile and effective organisation Clear distinction between Business of Today and Business of Tomorrow Leaner centralised functions Strengthened our focus on ownership and delivery The Leadership team
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10Copyright ©, 2025, Sasol Strengthen | Resetting the International Chemicals Business >15% EBITDA margin by FY28 FY25 FY27 Stronger ability to manage own debt FY28 Competitiveness reset Significant contribution to external interest US$750 - 850mn EBITDA Creating a strong foundation Positive cash flow before financing costs
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11Copyright ©, 2025, Sasol Strengthen | Restoring the Southern Africa value chain and unlocking value FY26 FY27 Ramp-up performance FY28 Performance restored Operational Reliability >7,4mt Secunda Operations volume Step-up and stabilise Coal Quality improvement 1. In nominal terms US$50/bbl SA value chain oil breakeven by FY281
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12Copyright ©, 2025, Sasol Grow and Transform Uneven pace of transition Value accretive decarbonisation Agile and responsive Deliver shareholder value
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13Copyright ©, 2025, Sasol Grow and Transform | Strategic focus areas aligned with delivering sustainable value Build integrated power business through Renewables Grow in sustainable fuels and chemicals Protect value from gas business Further opportunities
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14Copyright ©, 2025, Sasol Sustainable and competitive shareholder value Driving the transition to a stronger, more competitive business Improved EBITDA generation Disciplined Capital Allocation Strengthened Balance Sheet Net Debt2 Below US$3bn Adj. EBITDA1 Up to R71bn 1. Nominal terms 2. Net debt excluding lease liabilities By FY28
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15Copyright ©, 2025, Sasol Sasol will evolve as we strengthen our foundation, and invest in sustainable growth opportunities Illustrative growth depicting potential evolution of Sasol’s portfolio Southern Africa Improve competitiveness Remain fossil fuel-based Navigate pressures to carry business well into the next decade International Chemicals Reset business fundamentals Explore options to unlock value New sustainable businesses Incubate new sustainable businesses Grow value and inherently decarbonise FY25 FY30 FY35 Strengthen Grow and Transform
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16Copyright ©, 2025, Sasol 1616 Copyright ©, 2025, Sasol ROBUST FINANCIAL FRAMEWORK ◎ Improve free cash flow to deliver value ◎ Maintain strict cost and capital discipline ◎ Deleverage balance sheet Walt Bruns Group Chief Financial Officer
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17Copyright ©, 2025, Sasol Proactive risk management A robust financial framework with clear priorities Improve sustainable free cash flow Deleverage balance sheet Reinstate dividend Disciplined capital allocation 01 02 03 04
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18Copyright ©, 2025, Sasol EBITDA growth through targeted improvements across the portfolio 1. Adjusted EBITDA: Adjusting EBIT for depreciation, amortisation, share-based payments, remeasurement items, change in discount rates of our rehabilitation provisions, all unrealised translation gains and losses and all unrealised gains and losses on our derivatives and hedging activities. 2. FY24 based on Brent Crude of ~US$85/bbl, Rand/dollar of R18,71 3. Nominal terms, FY28 based on Brent Crude of ~US$74/bbl, Rand/dollar of R18,30 FY24 FY28 R60bn R64 -71bn EBITDA1 Rand bn 2 3 FY24 Macros Volumes Costs FY28 R55bn R50-55bn FY24 Macros Margins Costs FY28 R5bn R14-16bn 2 32 3 Group Strengthen Southern Africa Restore International Chemicals Reset
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19Copyright ©, 2025, Sasol Disciplined execution driving cost savings of R10 - 15bn against inflation by FY28 Structurally reducing our cost base Cost performance1 Optimising cost through… External spend Centralisation, smart contracting and reduced scope Internal spend Improved efficiency and effectiveness Utilities Increased use of low-cost renewable energy Asset portfolio optimisation Decisive action on underperforming assets FY24 Inflation FY28 inflated Savings FY28 R121bn R125 -130bn Group Cash Costs (R bn nominal) 1. Includes fixed and variable cost – excludes external feedstock and white product purchases
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20Copyright ©, 2025, Sasol Disciplined capital allocation driving balance sheet strengthening Maintain safe and reliable operations Net debt1 sustainably2 <US$ 3billion Further debt reduction Invest in larger Growth and Transform Deliver additional shareholder returns REVISED CAPITAL ALLOCATION FRAMEWORK Optimise maintain capital Ensuring continued safe and reliable operations Strengthen the balance sheet Reinforce financial resilience to manage volatility Larger Growth and Transform capital shifted Prioritise larger, value-accretive investments once balance sheet allows 01 01Selective Growth and Transform Pay dividends of 30% of free cash flow3 04 03 1. Net debt excluding lease liabilities 2. Assumes no major once-off impacts and that forecast net debt remains below US$3bn, supporting consistent dividend payments through the cycle 3. After tax, interest and 1st order capital expenditure 1st order allocation2nd order allocation 02 Selective Growth and Transform (1st order) Smaller, high return growth projects and incremental transform initiatives 02 03 04
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21Copyright ©, 2025, Sasol Disciplined capital spend focused on value and efficiency 29 27 - 28 23 - 25 27 - 29 29 - 31 1 1 1 2 2 0 8 16 24 32 FY24 FY25 FY26 FY27 FY28 Maintain Selective Growth and Transform Shutdown and Renewals capital Reduce costs through improved sourcing and scope optimisation Feedstock replacement Costs reduced as Mozambique PSA development ends Increased mining capital for continued coal supply Environmental Revised ERR results in lower capital expenditure Reduced spend as compliance projects near completion Selective Growth and Transform Funding small growth and transform initiatives Rbn (nominal) Actual 1. Further selective Growth and Transform capital investment is contingent on the availability of recycled carbon tax proceeds 1 1st order capex profile R15 - 20bn capex reduction against previously guided targets
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22Copyright ©, 2025, Sasol 0,0 0,5 1,0 1,5 2,0 2,5 3,0 3,5 4,0 4,5 FY24 FY25 FY26 FY27 FY28 US$ bn Accelerating deleveraging through free cash flow delivery Net debt1 reduction profile (Base) Increased resilience to macroeconomic shifts Increased equity share of enterprise value uplift Improved credit rating metrics and lower financing costs Disciplined 2nd order capital allocation in line with framework Net debt target 1. Net debt excluding lease liabilities. US$4,1bn <US$3bn Net debt1 reduction profile (Low) 2nd order capital allocation opportunities Net debt at FY24 Net debt1 projection, with dividend reinstatement planned
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23Copyright ©, 2025, Sasol Ongoing macro volatility reinforces the need for resilience and responsiveness ~25% ~30% R17,5 - R22,1 R17,6 - R21,1 FY25 FY26 ~45% ~60% US$62/bbl US$60/bbl FY25 FY26 10c change in average Rand/US$ = R680m EBIT impact1 US$1/bbl change in crude oil = R610m EBIT impact1 Defer discretionary capital spend; reduce working capital Further portfolio optimisation Extend cost reduction Proactive management of debt maturities Hedging in place Liquidity position >US$3bn % of volumes exposed to oil hedged Average floor price % of R/US$ exchange exposure hedged Average cap and floor price Current resilience Hedge book in place Available levers 1. Sensitivities applicable for FY25
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24Copyright ©, 2025, Sasol Net debt sustainably below US$3bn3 Executing a robust financial framework to deliver shareholder value Maintain working capital in target range of 15,5% - 16,5%2 Optimised working capital Strong liquidity position Extended hedging programProactive risk management R10 - 15bn annual costs savings1 R15 - 20bn cumulative capital savings1 Disciplined cost and capital spend Up to R71bn EBITDA1 generation through management actions Improved earnings and operational performance 1. Adjusted EBITDA in nominal terms 2. 12-month rolling average net trading working capital percentage to turnover 3. Net debt excluding lease liabilities By FY28 Strengthened balance sheet Sustainable and competitive shareholder value
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25Copyright ©, 2025, Sasol COMFORT BREAK The journey continues at 11:15 AM
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26Copyright ©, 2025, Sasol 2626 Copyright ©, 2025, Sasol INTERNATIONAL CHEMICALS RESET ◎ Profitability challenges are being addressed ◎ Strong turnaround plan ◎ First results delivered Antje Gerber Executive Vice President: International Chemicals
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27Copyright ©, 2025, Sasol International Chemicals | Who we were in FY24 Commercial / Sales Office Production Site Tucson Houston Winnie Lake Charles Brunsbüttel Hamburg Marl Bratislava Novaky Milan Barcelona Paris Sarroch Augusta Terranova Tokyo Nanjing Shanghai Xiamen Singapore Greens Bayou Northern Hemisphere sites only America Adj. EBITDA US$288 mn Eurasia All numbers based on FY24 65% 35% Turnover ~US$4bn EBITDA margin ~6 % 4 000 customers in 88 countries Employees ~4 000
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28Copyright ©, 2025, Sasol External macro environment remains challenged in the near-term Source: S&P Global, March 2025 Economic conditions likely to remain challenging in 2025 and 2026 Muted demand to continue for longer Global geopolitical uncertainties/structural challenges poses risks to outlook Evolving sustainability targets and regulatory policies Gas pricing (EU) – currently higher than historical levels and continues to be volatile 0 200 400 600 800 1000 1200 1400 1600 1800 2000Petrochemical Index (US$/ton) Price decline after first wave of Middle East and Chinese investment Covid pandemic demand surge Current Chinese capacity overbuild Platts Global Petrochemical Index (US$/ton) Average driving first wave of Middle East and Chinese investment Average during current downcycle Platts Petrochemical Index (US$/ton)
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29Copyright ©, 2025, Sasol EBITDA margin of 6,4% vs. average peer level of 12,5% in FY24 Lagging margins vs peers highlighted the need for structural change Sub-optimal organisational design High overhead fixed costs Recent investments have not realised full value Operational reliability EBITDA Margin % Peer A Peer B Peer C Peer D Sasol International Chemicals 02 03 01 04 0% 5% 10% 15% 20% 25% CY20 CY21 CY22 CY23 CY24
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30Copyright ©, 2025, Sasol We are leveraging our competitive advantages Cost effective feedstock and energy cost in North America Capacity to meet future demand Exceptional relationship with customers and brand owners Tailored portfolio addressing the needs of multiple markets Product innovation through R&D centres of excellence ~12 % GHG emissions reduction achieved to date1Sustainability AssetsFeedstock Customers Products R&D Harnessing the expertise of our people People 1. Targeting 30% by 2030 Scope 1 and 2 off a 2017 basis
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31Copyright ©, 2025, Sasol Reset phase to improve profitability to Strengthen our foundation by FY28 Driven by culture and mindset Safety Lasting business impact Power of collaboration Driving innovation Embracing change with a spirit of winning Cost discipline ▪ Operating model changed ▪ Business structure streamlined ▪ Excellence programmes devised and in progress Market focus ▪ Defined value propositions for commodity, differentiated and speciality business ▪ Shift from a “volume-driven” to a “value-driven” approach Asset optimisation ▪ Review of underperforming assets ▪ Improve reliability of assets ▪ Utilising installed asset capacity for unlocking growth
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32Copyright ©, 2025, Sasol Linear alkyl benzene (LAB), alcohols, and surfactants I&I, Fabric and Home Care and Personal Care Serving multiple end markets with superior product performance and tailored go-to-market strategies aligned with customer requirements Changing our go-to-market approach | Surfactants as core with growth in associated value chains Commodity Specialty Ethylene and industrial intermediates (EO, MEGs and amines) Packaging and Plastics, Industrial Fluids, Automotive Components ProductsEnd Markets Alcohols and derivatives, esters, and surfactants Oil and Gas, Metal Working and Lubricants, Paper and Water, Textile and Leather Tailor made high purity aluminas Abrasives, Technical Ceramics and Catalyst Carriers Base Chemicals Care Chemicals Technical Formulations Advanced Materials
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33Copyright ©, 2025, Sasol Key decisions have been made and are being executed to deliver US$50 - 60mn EBITDA uplift per annum by FY26 Decisive portfolio actions reducing costs and enhancing margins ▪ Reduced fixed costs ▪ Lower maintenance and services operating costs ▪ Reduced working capital and sustenance capex ▪ Minimal value chain integration impacts Alkylphenol Q4-CY24 mothball Rationale: Increasing costs and weak market demand with little chance of recovery Q2-CY25 mothball Rationale: High fixed and variable costs and market oversupply with little chance of short- term recovery Guerbet Q4-CY25 closure Rationale: High feedstock and production costs in a declining non- strategic market Phenolics Q3-CY25 mothball Rationale: Cost competitiveness declining due to energy costs in Europe and market oversupplied HF LAB
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34Copyright ©, 2025, Sasol We are reducing our cost base to take advantage of a future market upturn Streamlined organisational structure01 02 03 15-20% reduction1 in Cash Fixed Cost by FY28 vs FY24 ▪ SHE: Zero Harm ▪ Costs: Continuous improvement ▪ Assets: Reliable and compliant ▪ Production: Quality and efficiency ▪ People: Innovative people ▪ New ERP2 system Operating model change Excellence programmes 1. Includes impact of asset portfolio optimisation 2. ERP: Enterprise Resource Planning (SAP S4/HANA) Strategic initiatives Delivering Underpinned by
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35Copyright ©, 2025, Sasol Progress to date: HY25 Adjusted EBITDA almost doubled YoY Positive results in FY25 | Decisive actions are laying the foundation for a successful future Oct 2024 Nov 2024 Dec 2024 Jan 2025 Feb 2025 Apr 2025 Jul 2025 Alkylphenol and Guerbet mothballing announced Streamlining organisational structure HY results reflecting turnaround contributions Go-live of ERP1 system in Italy US East Cracker repaired and started HF LAB mothballing announced Phenolics asset closure announced FY25 results reflecting turnaround contributions 1. ERP: Enterprise Resource Planning (SAP S4/HANA)
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36Copyright ©, 2025, Sasol We will strengthen and grow our core business and deliver robust performance relative to peers Positive free cashflow before financing costs By FY25 + stronger US$ cash flow to pay US$ debt By FY27 + streamlined portfolio with US$750 – 850mn EBITDA1 By FY28 Achieving >15% EBITDA margin through the cycle From FY28 1. ~70% of Adjusted EBITDA growth under own control and ~30% from Macros FY24 FY25 FY26 FY27 FY28 US$288mn Reset measures Underlying business US$750 – 850mn EBITDA | US$ millions
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37Copyright ©, 2025, Sasol 3737 Copyright ©, 2025, Sasol RESTORE SOUTHERN AFRICA ◎ Improving coal quality ◎ Restoring gasification performance ◎ Optimising our cost base Victor Bester Executive Vice President: Operations and Projects
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38Copyright ©, 2025, Sasol Restore Southern Africa
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39Copyright ©, 2025, Sasol Southern Africa Business | Who we are ~R55 bn FY24 EBITDA2 Petrol, Diesel, Jet Fuel, Illuminating paraffin, Heating fuels Polymers, Solvents, Alcohols, Ammonia, Nitrates, Phenolics, Comonomers, Wax, Catalyst, Carbon Coal Natural gas, Synthetic gas Road transport, aviation, mining, agriculture Agriculture, mining, chemical industry, manufacturing, packaging, consumer goods Feedstock Heavy industry, mining, food and consumer goods, manufacturing, power generation 8% 12% 51% 29% Mining Gas Liquid Fuels Chemicals Africa 1. Direct and indirect employment 2. Adjusted EBITDA Advantaged market location in the industrial heartland of South Africa Diverse, integrated portfolio enables us to optimise across a value chain Leading brand with established local and global customer base LIQUID FUELS CHEMICALS AFRICAMINING GAS Support1 >500 000 jobs in SA Deliver products to >100 countries ~400 Fuel retail sites ProductsEnd Markets
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40Copyright ©, 2025, Sasol Enhance Competitiveness Oil breakeven US$50/bbl by FY281 Unlocking the value from the Southern Africa value chain Gas feedstock Coal feedstock Gasification and Reforming Refinery Chemicals Fuels Current volume performance Close 9% volume performance gap 91% Improve coal quality Restore gasification Channel optimisation 1. In nominal terms Feedstock Operations Marketing and Sales Focus of deep dives
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41Copyright ©, 2025, Sasol Shifting to a quality first approach
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42Copyright ©, 2025, Sasol Our holistic approach to improving coal quality and mining performance Quality Quality Quality first approach Volume Resetting fundamentals Cost of coal Maximise internal low-cost supply Long term supply Meeting demand beyond 2030 ▪ Implement destoning ▪ Test Modular X-Ray sorters ▪ Testing of real-time quality ▪ Improved reserve interpretation and mine planning ▪ Establish infrastructure ▪ Increase stonework capacity ▪ Reliable external supply ▪ Improved operating efficiency ▪ Competitiveness of own supply ▪ Internal vs external sources ▪ Developing internal supply options ▪ Consider external supply options
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43Copyright ©, 2025, Sasol Key milestones in our mining improvement journey 1. IQMC: integrated Quality Management Centre IQMC1 established Approved capital for flexibility improvements FID on Destoning Piloting of real time quality analyzers completed Destoning BO and re-routing Thubelisha coal Phase out external source of high sinks Piloting of X-Ray dense medium sorter technology Finalise long- term coal supply options Aug 2024 Oct 2024 Dec 2024 Sep 2025 Dec 2025 Mar 2026 Oct 2028 Oct 2027 Flexibility improvement interventions largely completed What has been achieved Imminent milestones What will be done
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44Copyright ©, 2025, Sasol Improved coal quality and increased gasifier availability will restore production 7,6 6,8 – 7,0 7,0 – 7,2 7,2 – 7,4 >7,4 Secunda Production (mtpa) 89% 89% Sinks content (%) Gasifier availability (%) FY17 - 21 FY22 - 25 FY26 FY27 FY28 Risk-based repair scope New repair methods Contracting strategies Productivity improvements Additional resources1 1. Temporary maintenance personnel >15% <12% ~77% Step-change in FY26 with improvement aligned to maintenance Key interventions <12%
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45Copyright ©, 2025, Sasol Recent coal quality performance tests demonstrate value chain performance can be restored Higher sink sourcesLower sink sources > 15% Isolated worst performing sections and increased external imports Equivalent annual production with 75 gasifiers (mtpa) >7,4mt Pre-test run Test run Sources of coal Reduced sinks content from ~15% to ~12% 14-day test run >7,4mtpa eq. annualised production
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46Copyright ©, 2025, Sasol Further sustainable savings planned 1. Includes fixed and variable cost – excludes external feedstock and white product purchases . 2. Includes Corporate Centre-related capex SA Capex2 (R bn nominal) FY24 FY25 FY26 FY27 FY28 23 - 24 20 - 22 23 - 25 25 - 2725 Reduce external spend Optimise internal spend 757 MW RE online by FY28 Asset reviews to improve profitability FY24 Inflation FY28 Inflated Savings FY28 R87bn R92bn-94bn SA Cash Costs1 (R bn nominal) Costs1 saving of R8 – R10bn by FY28 Projected CAPEX2 optimised
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47Copyright ©, 2025, Sasol Integrated approach to deliver more resilient business Operating costs managed below inflationCost Efficient capital expenditureCapex Sink content in coal Gasifier availability Secunda throughput Volumes Achieving US$50 /bbl oil breakeven by FY28 FY24 FY25 FY26 FY27 FY28 58 50 < > > 12% 89% 7,4mtpa 1. In nominal terms Forecasted evolution on oil breakeven (US$/bbl)1
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48Copyright ©, 2025, Sasol 4848 Copyright ©, 2025, Sasol GROW AND TRANSFORM ◎ Reducing carbon intensity while growing value ◎ Stronger business outcomes for the ERR ◎ Progressing sustainable opportunities Sarushen Pillay Executive Vice President: Business Building, Strategy and Technology
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49Copyright ©, 2025, Sasol Delivering value growth with a lower carbon intensity New power business Sustainable fuels and chemicals Retain value from gas Accessing new market opportunities Today By 2030 >>2030 Low High Leveraging the advantage of our foundation Revised ERR creates platform to Grow and Transform Incubate and scale opportunities to meet customer needs on timing and value Key focus areas to build sustainable value
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50Copyright ©, 2025, Sasol Our ERR is a breakthrough in aligning our environmental and business goals Progressing our GHG Emissions Reduction Roadmap towards the 30% target Carbon Intensity down, Shareholder Value up No turndown of Secunda production Significantly lower capital expenditure Air quality compliance 1. Additional R 2-4bn capital required for RE with independent economic case Previous (2021) Now (2025) No LNG as replacement feedstock Optimised boiler turndown ~2 000 MW Renewable Energy Market mechanisms ~ R 4 – 7 bn capital1 Energy efficiency LNG as replacement feedstock Boiler turndown ~1 200 MW Renewable Energy No market mechanisms ~ R 15 –25 bn capital Energy efficiency
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51Copyright ©, 2025, Sasol Growth through Renewable Energy: powering operations and new markets 1. e-fuels / chemicals produced from renewable electricity (e.g. Power-To-Liquids, green hydrogen, green ammonia) External sales and e-fuels / chemicals1 Electrons for Sasol demand 2 GW RE generation profile >2 GW RE generation profile Access to land Not constrained by grid for embedded generation Integrated Energy solutions provider Unique value proposition to partners Up to 2GW by FY30 >2GW FY30+ Sasol demand Electrons available for trading and conversion Renewable energy generation profile and market progression Our competitive advantages
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52Copyright ©, 2025, Sasol Renewable Energy strengthens the foundation business and lowers carbon intensity >R4bn Projected cumulative reduction in electricity costs (5 years)3 >10mt Projected cumulative Scope 2 GHG reduction (5 years)3 R bn FY25 FY30 RE from PPA’s online by FY282 Projection of unmitigated electricity and carbon tax costs1 ~757 MW Northern Free State 98 MW solar farm2 Paarde Valley 120 MW solar farm2 De Aar 2 South 140 MW wind farm2, Msenge Emoyeni 69 MW wind farm Impofu cluster 330 wind farm2 Sasolburg 3 MW solar farm (Behind-the-meter own build) 1. Sasol internal projections 2. ~688 MW procured jointly with Air Liquide 3. Based on 757 MW RE benefit across all integrated sites (including Air Liquide) + Sasol is one of the largest purchasers of renewable energy in South Africa
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53Copyright ©, 2025, Sasol Preserve and grow long term value through supply option development and Gas-to-Power Protecting our gas income streams EXTEND SUPPLY Continue with upstream exploration activities in Southern Mozambique to unlock further value GAS BRIDGE Offer methane rich gas1 from Secunda operations to provide supply certainty for gas customers Import LNG to meet long term external market demand; co-develop gas-to-power demand Midstream Upstream Downstream AGGREGATE LNG 1. Dependent on approved gas price ~R6,6bn EBITDA (FY24) FY25 – FY28 What will be done FY30+
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54Copyright ©, 2025, Sasol Deploying technology and assets where demand is strongest Customers Sustainable Feedstocks Technology and Assets Feedstock supply development Refining Fischer Tropsch SAFAviation Mining and Logistics Driving innovation through synergistic value-chain partnerships
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55Copyright ©, 2025, Sasol Sasol’s sustainable future is forging ahead Msenge 69 MW BO Northern Free State Solar PV 98 MW BO Impofu Cluster 330 MW BO Up to 2GW RE MRG bridge to LNG implemented 30 000 Liter Renewable Diesel market seeding Renewable Diesel scale-up (1 to 2 million Liters) Discovery Green partnership (Ampli) launched First boiler turndown for 30% ERR Sasol and Topsoe to deliver e-fuels technology1 producing 2500 tpa of SAF in Germany De Aar 2 South 140 MW BO Paarde Valley 120 MW BO Oct 2024 Apr 2025 May 2025 2025 2026 2027 2028 2030 Electricity Trading License application submitted 1. Zaffra, a Sasol and Topsoe Joint Venture uses this solution to establish large scale SAF production facilities Additional 1GW of RE contracted Milestones achieved Growing in step with internal and customer demand
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56Copyright ©, 2025, Sasol Driving long-term value from our Southern African base beyond 2030 Coal feedstock Gas value chain Competitiveness Carbon Tax New sustainable businesses Sufficient access to own coal reserves to 2040+ Credible options to protect value from the external market Competitiveness retained using all business levers despite gas decline Positive shifts in the carbon tax framework support future sustainable investments Scale RE business beyond 2GW Build sustainable fuels and chemicals >>FY30+
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57Copyright ©, 2025, Sasol 5757 Copyright ©, 2025, Sasol CLOSING REMARKS Simon Baloyi President and Chief Executive Officer
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58Copyright ©, 2025, Sasol Sasol’s investment case IMPROVED PROFITABILITY GREATER RESILIENCE US$ 50/bbl Oil breakeven1 for Southern Africa EBITDA margin >15% International Chemicals R 10 - 15bn cost savings <US$ 3bn Net debt2 up to R71 bn EBITDA3 ~757 MW RE online Additional ~1GW RE contracted POSITIONED FOR LONG-TERM VALUE CREATION KEY OPERATING AND FINANCIAL TARGETS BY FY28 1. In Nominal terms 2. Net debt excluding lease liabilities 3. Adjusted EBITDA Strengthen our foundation Grow and Transform CLEAR TRANSITION STRATEGY ATTRACTIVE GROWTH PROSPECTS
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59Copyright ©, 2025, Sasol Reshaping for a new era
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60Copyright ©, 2025, Sasol THANK YOU
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61Copyright ©, 2025, Sasol Abbreviations and definitions AI Artificial intelligence HSI High severity incidents B2B Business to business HY Half Year bbl Barrels I&I Industrial and institutional cleaning BO Beneficial operation IQMC Integrated Quality Management Centre CAPEX Capital expenditure LNG Liquified natural gas CO2 Carbon dioxide MEG Methyl ethyl glycol CY Calendar Year MRG Methane rich gas EBITDA Earnings before interest taxes, depreciation and amortisation MT Million tonnes EO Ethylene oxide mtpa Million tonnes per annum ERP SAP Enterprise Resource Planning – SAP system MW Megawatts ERR Emission Reduction Roadmap OPEX Operating expenditure EU European Union PPA Power purchase agreement (renewable energy) / Petroleum Production Agreement (gas) FID Final Investment Decision PSA Product sharing agreement FY Financial Year PV Photovoltaic G4 Fourth generation RE Renewable energy GHG Green house gases RSA Republic of South Africa GTL Gas to liquids SAF Sustainable Aviation Fuels GtP Gas to power SHE Safety, Health and Environment GW Gigawatts US/USA United States of America HF LAB Hydrofluoric acid Linear alkyl benzene YoY Year on year
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62Copyright ©, 2025, Sasol Additional information ORDINARY SHARE ▪ JSE: SOL ▪ ISIN: ZAE000006896 ADR ▪ NYSE: SSL ▪ ISIN: US8038663006 ▪ Cusip: US8038663006 ▪ Ratio DR:ORD – 1:1 ▪ Depositary Bank: JP Morgan Depositary Receipts +27 10 344 9280 investor.relations@sasol.com +27 71 600 9605 alex.anderson@sasol.com Investor Relations Media
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63Copyright ©, 2025, Sasol