Johannesburg, South Africa – Sasol Limited is pleased to announce the successful implementation of Sasol Khanyisa and the acceleration of our transformation journey.

Sasol Khanyisa is Sasol’s new R21 billion Broad-Based Black Economic Empowerment ownership structure with approximately 230 000 shareholders owning 53 million Sasol South Africa (SSA) shares representing 25% direct and indirect ownership in SSA. Sasol South Africa is a wholly-owned subsidiary of Sasol and houses Sasol’s most cash generative assets, which include its synthetic fuels, chemicals and gas businesses.

“The implementation of Sasol Khanyisa marks a significant milestone in Sasol’s transformation journey. We believe that Sasol Khanyisa will not only realise sustainable and long-term value for our Black South African shareholders but also for our participating staff,” said Bongani Nqwababa, Joint President and Chief Executive Officer of Sasol Limited.

“Transformation in the form of share ownership in Sasol South Africa by previously disadvantaged groups, is an important business, social and moral imperative for Sasol. As a responsible corporate citizen, it is our ethical duty to take decisive action to contribute meaningfully towards redressing the injustices of our country’s past,” said Stephen Cornell, Joint President and Chief Executive Officer of Sasol Limited.

Sasol’s transformation journey is closely aligned to the strategic objectives of the triple BEE Codes of Good Practice. The company is actively driving a number of initiatives that are already making a significant contribution in redefining its empowerment landscape. Advancing ownership of Sasol by Black South Africans is a significant step in realising its long-term transformation objectives.

Through Sasol Khanyisa the company is prioritising the inclusion of Black South Africans, which includes public shareholders and eligible employees, in the ownership of Sasol South Africa, which is a major operating subsidiary of Sasol Limited.

Editor’s notes

Sasol Inzalo shareholders and Sasol Limited BEE Ordinary (SOLBE1) shareholders who elected to retain their SOLBE1 shares were afforded an opportunity to participate in Sasol Khanyisa and receive bonus SOLBE1 shares in this regard (unless they rejected their free share allocation from 16 April to 11 May 2018).

Qualifying Sasol employees will also participate in Sasol Khanyisa Employee Share Options Plan (Khanyisa ESOP). The key qualifying criteria for employees is:

• Sasol employees who participated in the Sasol Inzalo Employee Scheme, and who are permanently employed as at 1 June 2018, will participate in Phase 1 and are eligible for R100 000 rights to Sasol Ordinary shares which will vest in 2021;

• All Black (African, Indian, Coloured) who are permanently employed as at 1 June 2018, will also participate in Phase 2 and are eligible for 1240 Sasol Khanyisa rights to shares which will vest in June 2028 or earlier of settlement of funding obligation;