Sasol proactively manages its risk through hedging programmes

Sandton – Sasol continues to proactively manage its risk of exposure to oil price and currency volatility through its group hedging programme, which provides partial downside protection while retaining upside participation. The FY27 and FY28 oil hedging programmes are complete, while USD/ZAR programmes remain in progress.

Strengthening foundation business:

• Sasol concluded a sale agreement with Enaex Africa for its Nitrates business, marking further progress in optimising the South African portfolio. The transaction remains subject to regulatory approvals and customary closing conditions. Sasol has a 23% shareholding in Enaex Africa.
• Sasol continues to operate 100% of the Natref refinery, utilising the available Prax SA shareholding capacity during the ongoing business rescue process.
• The National Energy Regulator of South Africa (NERSA) approved Sasol’s maximum gas price application for FY27 and part of FY28, providing greater pricing certainty. A decision on FY29 and FY30 remains pending, subject to a further competition assessment.

Grow and Transform:

   • Natref is expected to commence commercial sustainable aviation fuel (SAF) production in Q2 FY27, using sustainable bio-feedstocks, supported by the ISCC+ certification received. Initial production of 1 – 2 million liters per annum will support market development, including Sasol’s first commercial SAF offtake agreement with White Desert.

   • Through Ampli Energy, Sasol and Discovery Green will support SANParks with more than

      7 100 MWh of renewable energy annually, starting with Kruger National Park. The supply

      is equivalent to more than 25% of the park’s annual electricity consumption,

      demonstrating a practical model to broaden access to renewable energy.

   • Following the €60 million final investment decision (FID) announced in FY26, construction commenced on the new specialty alumina production facility in Brunsbüttel (Germany), with the official groundbreaking in September 2026. The investment will expand specialty alumina capacity, with commercial production planned from FY29.

Outlook

We remain on track to deliver within our market guidance ranges across the business. The operating environment is expected to remain volatile, with improved feedstock supply, continued operational reliability and agile responses to changing market conditions remaining key areas of focus.