Slide 1: Annual Financial Results for the year ended 30 June 2023
SASOL LIMITED ANNUAL FINANCIAL RESULTS for the year ended 30 June 2023 Copyright ©, 2023, Sasol
Slide 2: Agenda
AGENDA Business overview Business highlights Safety update Operating performance Financial overview Financial performance Capital allocation Strategy overview ESG update FY24 priorities Q&A Copyright ©, 2023, Sasol 2
Slide 3: Forward-looking statements
Forward-looking statements 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 our future pros
Slide 4: Business Overview
BUSINESS OVERVIEW ⦿ Fleetwood Grobler Copyright ©, 2023, Sasol 4
Slide 5: Business highlights for FY23
Business highlights for FY23 Continued community PEOPLE RCR1 of 0,27 >R850m CSI spend upliftment Two tragic fatalities Committed to social wellbeing through Sasol programmes PLANET Renewables on track Gas drilling campaign Sasol/Topsoe JV to achieve 1 200MW by 2030 yielding positive results Unlockin
Slide 6: Our safety commitment reinforced
Our safety commitment reinforced SAFETY ENVIRONMENTAL Mainly due to higher exposure 25 6 Fires, explosions and releases 0,4 100 hours Fatalities, LWDC and HSI-SR 20 80 0,3 15 FER-SR 60 4 RCR 0,2 10 40 0,1 5 20 0 2 0 0 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 1 Significant Major FER-SR Fatal
Slide 7: Near term challenges to operating environment persist
Near term challenges to operating environment persist Uncertain regulatory Global economic volatility SA business constraints environment in SA ▪ High inflation, increasing ▪ Gas pricing ▪ Power availability interest rates ▪ RE grid capacity constraints ▪ Socio-economic impacts ▪ Weak global growth
Slide 8: Committed to our strategic pathways
Committed to our strategic pathways RESET TRANSITION Step change in performance to increase resilience and REINVENT Ramping-up sustainability support business transition while > investments and leveraging ensuring shareholder returns current assets to meet the 2030 Delivering net zero ambition GHG t
Slide 9: Delivering on guidance despite ongoing headwinds
Delivering on guidance despite ongoing headwinds ENERGY BUSINESS CHEMICALS BUSINESS ▪ 3%▼ Mining productivity; coal quality improvement initiatives ▪ 1%▲ Africa sales volumes, despite ongoing infrastructure progressing; 5% improved productivity in H2 challenges in SA ▪ 2%▲ Mozambique gas production;
Slide 10: Mining full potential programme moving to Phase 2
Mining full potential programme moving to Phase 2 FY23 delivery ✓ Coal stockpile maintained and productivity within guidance ✓ Improvements at Syferfontein in 1 phase of full potential st ✓ Learnings embedded for next phase rollout Focus areas ▪ Embed safe operating discipline ▪ Destoning test compl
Slide 11: Progressing operational mitigation plans | SA and International
Progressing operational mitigation plans | SA and International FY23 Delivery - SA FY23 Delivery - International ✓ SO and Natref reliability step up ✓ ORYX train 2 repairs and maintenance completed successfully ✓ Successful SO total shutdown ✓ Selected turndown to match demand ✓ Increased NG availab
Slide 12: Mozambique gas drilling campaign yielding positive results
Mozambique gas drilling campaign yielding positive results PPA PSA Exploration PSA progressing Total investment Successful gas drilling within budget and schedule New gas discovery in of ~US$530m1 results in Mozambique to Initial gas facility construction exploration block PT5-C 5 new wells brought
Slide 13: FY23 financial summary
FY23 financial summary Adjusted EBITDA Net debt1 CHEPS Final dividend R66bn US$3,8bn R47,71 per share R10 per share ▼ 8% ▼ 1% ▼ 30% Sustained shareholder returns Significantly stepping-up our business reset through Sasol 2.0 Financial highlights 1. Excluding lease liabilities Copyright ©, 2023, Saso
Slide 14: Financial Overview
FINANCIAL OVERVIEW ⦿ Hanré Rossouw Copyright ©, 2023, Sasol 14
Slide 15: Navigating a volatile macro environment
Navigating a volatile macro environment FY23 vs FY22 LOOKING AHEAD Brent crude oil 87 US$/bbl Uncertain global environment and demand ▼5% High inflation $ € Exchange rate 17,77 R/US$ average Volatile oil prices and continued weak refined product and chemical margins £ ¥ ▲17% Ethane 35 US$c/gal Adapt
Slide 16: Group profitability
Group profitability FY23 FY22 FY23 FY22 Rm Rm % Turnover1 289 696 272 746 6▲ Adjusted EBITDA3 Adjusted EBITDA3 Gross margin 128 674 142 584 10▼ (R bn) (R bn) Cash fixed cost (68 836) (62 121) 11▲ 5,0 6,0 Adjusted EBITDA (Rm) 66 305 71 843 8▼ (7%) (7%) (12%) (7%) Non cash cost (including depreciation
Slide 17: R35bn Secunda liquid fuels refinery CGU impairment
R35bn Secunda liquid fuels refinery CGU impairment ▪ Refinement of emission reduction roadmap (ERR) ▪ Update of macro-economic assumptions including higher cost of capital, cost of feedstock and domestic gas pricing ▪ Lower Secunda production volumes post 2030 ▪ Future upside potential through techn
Slide 18: Segmental performance
Segmental performance Mining Gas Fuels ▼ 16% adjusted EBITDA ▲ 3% adjusted EBITDA ▲ 5% adjusted EBITDA Higher external coal purchases Benefitted from higher gas prices, weaker Higher Rand oil prices Lower export sales and prices exchange rate and lower CFC Offset by lower refining margins Improved p
Slide 19: Sasol 2.0 ambition increased to further improve resilience
Sasol 2.0 ambition increased to further improve resilience Delivered in FY23 FY24 targets1 FY25 targets1 Cash Fixed Costs R10 - 12bn R7,1bn >R8bn (target >R5bn) ▲ R2bn FY24 and FY25 Gross Margin TARGETS RESET R8 - 10bn R6,4bn >R7bn +R4bn EBITDA by FY25 ▲ R2bn (target >R3,5bn) to mitigate inflation a
Slide 20: FY24 outlook | Embedding operational improvements
FY24 outlook | Embedding operational improvements ENERGY BUSINESS CHEMICALS BUSINESS Mozambique gas production Mining productivity 113 - 119 bscf Chemicals Chemicals Chemicals 975 - 1 100 t/cm/s Africa America Eurasia Ongoing full potential roll-out NG investments delivering positive Sales Sales Sal
Slide 21: Prudent capital management continues
Prudent capital management continues 35 33 - 34 31 1 30 1 ▪ Safe and reliable operations while progressing our transform 14 objectives 25 23 ▪ FY23 Maintain and Transform capital of R30bn 20 1 16 32 - 33 ▪ SO Total shutdown and ramp up of PSA R billion 1 15 30 23 ▪ Ramp up of environmental complianc
Slide 22: Disciplined capital allocation remains an imperative
Disciplined capital allocation remains an imperative Maintain capital Transform capital Selective growth safe and reliable deliver GHG reduction small high-return, operations targets short payback ▪ Sustenance capital level maintained; compliance capital projects R26 - 32bn per annum1 projects progr
Slide 23: Strategy Overview
STRATEGY OVERVIEW ⦿ Fleetwood Grobler Copyright ©, 2023, Sasol 23
Slide 24: Transitioning our business in a changing world
Transitioning our business in a changing world Energy security following war in Ukraine Committed to a Uncertain regulation and policies balanced and measured approach in resetting and Global inflationary and demand pressures transforming our business Affordable and sustainable transition prioritise
Slide 25: GHG reduction through focussed initiatives
GHG reduction through focussed initiatives GHG EMISSIONS1 ▪ ~5% GHG emission reduction off 2017 baseline - 5% 66,000 ▪ Higher production rates contributed to marginally higher emissions in FY23 vs. FY22 kt CO2 equivalent 62,000 ▪ Continued progress on energy efficiency projects 65,881 ▪ Impacted by
Slide 26: Progressing our 2030 GHG reduction targets
Progressing our 2030 GHG reduction targets ▪ >600 MW RE PPAs signed for Secunda Operations; 69 MW under Renewable construction for Sasolburg energy integration ▪ ~24 MW PPAs concluded in Europe; received 1st solar energy at ~6% 1 Augusta site GHG reduction ▪ Commissioned ~3MW solar farm in Sasolburg
Slide 27: Longer term opportunities developing for Reinvent phase
Longer term opportunities developing for Reinvent phase Sasol / Topsoe JV Progressing key proof-of- concept initiatives unlocking SAF e.g. green H2, SAF opportunities through re-purposing SA assets Natref producing 10ppm Progressing studies to low sulphur diesel support the Lake Charles Sustainabili
Slide 28: Sasol's ongoing commitment to society
Sasol’s ongoing commitment to society Contributing to economic growth Tax and Royalties Black-owned business spend R56,1bn R41,7bn Skills development Socio-economic investment R1,4bn R857m Positive change in community Artisan development Bridge-to-work >2600 individuals trained on technical programm
Slide 29: FY24 priorities | Building a strong foundation for Future Sasol
FY24 priorities | Building a strong foundation for Future Sasol REALISM ▪ Continue safety and operational discipline Focused ▪ Progress to zero harm on resetting ▪ Progress GHG reduction and Just Transition FOCUS the business ▪ Refine implementation pathway to build a resilient ▪ Step-up in Sasol 2.
Slide 30: Thank you
THANK YOU Copyright ©, 2023, Sasol 30
Slide 31: Q&A
Q&A Copyright ©, 2023, Sasol 31
Slide 32: Abbreviations and definitions
Abbreviations and definitions ADR American Depositary Receipts mm bbl million barrel AFS Annual financial statements mt million tons bscf billion standard cubic feet MW Megawatt Capex Capital expenditure Natref National Petroleum Refiners of South Africa (Pty) Ltd CFC Cash fixed costs NG Natural gas
Slide 33: Additional information
Additional information ▪ JSE: SOL ORDINARY SHARE ▪ ISIN: ZAE000006896 ▪ NYSE: SSL ▪ Cusip: 803866300 ▪ Depositary Bank: ADR JP Morgan Depositary Receipts ▪ ISIN: US8038663006 ▪ Ratio DR:ORD – 1:1 Investor Relations Media investor.relations@sasol.com alex.anderson@sasol.com +27 10 344 9280 +27 71 600
Slide 34: Copyright ©, 2023, Sasol
Copyright ©, 2023, Sasol 34