Sasol Limited · JSE:SOL

Sasol — H1 FY2020 Earnings Presentation

22 slides from Sasol's earnings presentation, February 2020

Slide 2: Forward-looking statements and definitions
Forward-looking statements and definitions Sasol may, in this document, make certain statements that are not historical facts and 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
Slide 3: FY20 Interim Results
FY20 INTERIM RESULTS  Business results overview Fleetwood Grobler  Financial results Paul Victor  Realism, focus and delivery Fleetwood Grobler Copyright ©, 2020, Sasol 3
Slide 5: Key messages
Key messages • Relentless focus towards achieving zero harm OPERATIONAL PERFORMANCE • Satisfactory production performance • Asset integrity continued to be prioritised • Project on track within total cost estimate LCCP UPDATE • Operating units performing well; positive EBITDA contribution in H2 FY20
Slide 6: Operational performance | Driving zero harm in operations
Operational performance | Driving zero harm in operations to reduce fatalities Fatalities, LWDCs and RCR Group Recordable Case Rate at 0,271 0,35 140 ● Strong LCCP safety performance - RCR of 0,10 120 Recordable fatality and LWDCs 0,30 Safety culture and performance is showing a positive 100 trend,
Slide 7: Operational performance | Production highlights
Operational performance | Production highlights South • Successful phase shutdown at Secunda Synfuels; 4% increase in production (FY20: 7,7 – 7,8mt) African • Mining productivity decreased 7% due to unplanned downtime and geological complexity Operations • Natref production decreased 8% following a
Slide 8: LCCP update | Delivery of LCCP remains critical
LCCP update | Delivery of LCCP remains critical Total project Capital estimate FY20 EBITDA ~80% US$50m - 100m Total nameplate1 capacity operational US$12,8bn 98,4% Tracking cost estimate guidance Positive EBITDA contribution in H2 FY20 Overall construction completed (FY21: US$600m – 750m) Units unde
Slide 9: Financial performance | Global macroeconomic uncertainty continues
Financial performance | Global macroeconomic uncertainty continues 1 2 Global GDP Brent crude oil 2 Chemicals 2,9% 63 736 1 570 US$/bbl US$/t US$/t 12% 15% 14% Base Performance Chemicals Chemicals 2 2 2 Exchange rate Fuel products Ethane 14,70 78 18 R/US$ US$/bbl US$c/gal 4% 8% 53% 1. Estimated aver
Slide 10: Financial performance | Position impacted by macroeconomic volatility
Financial performance | Position impacted by macroeconomic volatility Adjusted EBITDA Cash fixed cost Capex (proxy for cash) R19,6bn < 6% target R21,4bn 27% lower2 30% lower2 excluding LCCP growth and macroeconomic volatility; lower prices as LCCP nearing completion once-off costs Gearing Working ca
Slide 12: Financial key messages
Financial key messages • Macro volatility continues in a slowing global economy FINANCIAL RESULTS • Group profitability impacted by weaker macroeconomics and LCCP start-up • Continued focus on cost and capital management to remain competitive • Balance sheet protection prioritised; investment grade
Slide 13: Financial results | Group profitability by segment
Financial results | Group profitability by segment HY20 HY19 %∆ Adjusted EBITDA (%) by segment Mining 1 374 2 661 48▼ Exploration and Production International (E&PI) 1 023 764 ) 34▲ 22 30 Performance Chemicals (PC) 1 294 3 599 64▼ Base Chemicals (BC) (1 488) 3 076 >100▼ Chemicals Energy 6 743 9 565
Slide 14: Financial results | Operating profit mainly impacted by macroeconomics
Financial results | Operating profit mainly impacted by macroeconomics HY19 20 790 • Operating profit impacted by: ▼ oil price, softer chemical and refining margins Exchange rate 7% ▼ negative contribution from LCCP Crude oil (19%) Macro environment ▼ operational challenges at Mining Product prices
Slide 15: Financial results | Segmental highlights compared to prior period
Financial results | Segmental highlights compared to prior period Mining Exploration and Production Energy ▼1 135t/cm/s Moz: ▲12% EBIT ▲ liquid fuels sales 7% lower productivity Stable operations Offset by lower oil price and refining margins ▲R343/t Gabon: ▼66% EBIT Oryx: 98% utilisation 15% higher
Slide 16: Balance sheet | Capital spend declining as LCCP nears completion
Balance sheet | Capital spend declining as LCCP nears completion • Capital expenditure guidance 70 56 • planned LCCP spend of R14bn (US$946m) 60 53 3 in FY20 50 4 381 • shift to higher sustenance capital in FY21 40 R billion 30 2 301 30 • growth capital includes Mozambique drilling 30 3 14 20 • Prio
Slide 17: Balance sheet | Proactive management continues
Balance sheet | Proactive management continues MEDIUM- TO LONG-TERM BALANCE SHORT-TERM FOCUSED ACTIONS SHEET GOALS • Enhance cash flow profile • Positive contribution from LCCP • Continued focus on management actions Strong balance • Deliver portfolio optimisation to enhance shareholder Maintain she
Slide 18: Outlook | FY20
Outlook | FY20 • Bank Net debt: EBITDA1 range 2,6 – 3,0 times; Gearing range 55 – 65%2 GROUP • Normalised cash fixed costs within 6% inflation target • Normalised Mining unit cost of R330 – R350/t UPSTREAM • Mozambique gas production 114 – 118bscf • Liquid fuels sales 57 – 58mmbbls ENERGY • ORYX GTL
Slide 20: Realism, Focus and Delivery
Realism, Focus and Delivery Balance Foundation Future LCCP sheet Sasol business Delivery of integrated Protect investment Preserve asset integrity Build resilience for the LCCP and ramp-up grade rating; to deliver safe and future and embed key EBITDA to transform deleverage the balance reliable oper
Slide 22: Abbreviations
Abbreviations AVE average JV joint venture BC Base Chemicals LCCP Lake Charles Chemicals Project B-BBEE broad-based black economic empowerment LDPE low density polyethylene EBIT earnings before interest and tax LLDPE linear low density polyethylene EBITDA earnings before interest, tax, depreciation

Sasol — H1 FY2020 Earnings Presentation on 6ix

Sasol — H1 FY2020 Earnings Presentation

Slide 1: Sasol Limited Interim Financial Results

Slide 2: Forward-looking statements and definitions

Slide 3: FY20 Interim Results

Slide 4: Business Results Overview

Slide 5: Key messages

Slide 6: Operational performance | Driving zero harm in operations

Slide 7: Operational performance | Production highlights

Slide 8: LCCP update | Delivery of LCCP remains critical

Slide 9: Financial performance | Global macroeconomic uncertainty continues

Slide 10: Financial performance | Position impacted by macroeconomic volatility

Slide 11: Financial Results

Slide 12: Financial key messages

Slide 13: Financial results | Group profitability by segment

Slide 14: Financial results | Operating profit mainly impacted by macroeconomics

Slide 15: Financial results | Segmental highlights compared to prior period

Slide 16: Balance sheet | Capital spend declining as LCCP nears completion

Slide 17: Balance sheet | Proactive management continues

Slide 18: Outlook | FY20

Slide 19: Realism, Focus and Delivery

Slide 20: Realism, Focus and Delivery

Slide 21: Questions and Answers

Slide 22: Abbreviations