Sasol (SOL) Trading update summary

Safety and operational performance

• Key safety indicators improved, though two fatalities occurred, reinforcing the focus on safety culture.

• Secunda Operations achieved its highest annual production in five years, exceeding guidance.

• Natref maintained strong performance, supporting South Africa's fuel supply and energy security.

• ORYX GTL remained offline due to gas supply disruptions, with restart dependent on regional stability.

Financial and business performance

• Production and sales metrics met or exceeded market guidance, aided by stronger macroeconomic conditions.

• Liquid fuels sales volumes rose year-on-year, with higher refining margins offset by crude oil hedging losses.

• Chemicals Africa revenue increased, supported by higher pricing, despite lower Base Chemicals volumes from planned shutdowns.

• International Chemicals Adjusted EBITDA is expected to exceed the US$375–450 million guidance range.

Strategic initiatives and growth

• Submitted Maximum Gas Price application to NERSA for FY27–FY30; regulatory outcome pending.

• Restarting paraffin production in Augusta, Italy, to address global supply constraints, with operations expected in H1 FY27.

• Continued ERP system rollout in Germany as part of International Chemicals strategic reset.

• Advanced Materials growth supported by €60 million investment in Brunsbüttel, Germany, for specialty alumina expansion, operational by FY29.

• 330 MW of renewable energy added, raising operational capacity to over 500 MW, supporting emissions reduction and competitiveness.