Commentary & Deal Flow

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Emerging Markets: Sasol Limited (“Sasol“) (SASOL), rated Ba1 (Negative) by Moody's and BB+ (Negative) by S&P, and its wholly owned subsidiary Sasol Financing USA LLC (the “Issuer”), have mandated J.P. Morgan and MUFG as Global Coordinators, and together with Bank of China, BofA Securities, Citi, IMI-Intesa Sanpaolo, Mizuho, SMBC and Standard Chartered Bank as Joint Active Bookrunners, and ICBC as a Passive Bookrunner, to arrange a series of individual and small group virtual investor calls today, Monday, 30 March. A Rule 144A/Reg S USD-denominated benchmark offering by the Issuer, guaranteed by Sasol, with expected tenor of 7NC3 (the “Offering”) is expected to follow, subject to market conditions. FCA / ICMA stabilization applies.

In addition, Sasol has announced an invitation to holders of its outstanding 6.500% notes due 2028 (ISIN: US80386WAB19) to tender any and all of their notes ("Any and All Tender Offer"), and another invitation to holders of its outstanding 8.750% notes due 2029 (ISIN: USU8035UAC63 / US80386WAF23) to tender their Notes up to a Capped Maximum Acceptance Amount of US$750,000,000 less the aggregate principal amount of 2028 Notes accepted for purchase in the Any and All Tender Offer ("Capped Tender Offer"), together with the Any and All Tender Offer, ("Tender Offers"), subject to the satisfaction or waiver of the Conditions of the Tender Offers. Subject to applicable law, Sasol reserves the right to increase or decrease the Capped Maximum Acceptance Amount at its sole discretion.

The Any and All Tender Offer Expiration Date is 6 April 2026. The Capped Tender Offer Early Tender Date is 13 April 2026, and the Capped Tender Offer Expiration is 28 April 2026.

Allocations in the Offering will be determined based on a number of factors, which may include the size and timing of an investor's indication of interest in Tender Offers. J.P. Morgan and MUFG are Joint Dealer Managers. For further information on the Offer, holders should (subject to offer and distribution restrictions) refer to the Offer to Purchase dated 30 March 2026.

Sasol Financing USA LLC has mandated JP Morgan to arrange a series of fixed income investor calls to be scheduled on 30-Mar-26. An electronic investor presentation will be made available. JP Morgan will be coordinating logistics.

A US$ 144A/Reg S Notes offering will follow, subject to market conditions.

• Company Representatives:
• • Walt Bruns, Chief Financial Officer
  • Cheryl Pillay, Vice President: Corporate Finance and Treasury
  • Barend du Plessis, Head of Specialised Finance
• Investor Meeting Schedule:
• • Monday 30 March 2026 – Virtual

  SLOT	UKT	SAST
  Slot #1	12:00-12:45	13:00-13:45
  Slot #2	13:00-13:45	14:00-14:45
  Slot #3	14:00-14:45	15:00-15:45
  Slot #4	15:00-15:45	16:00-16:45
  Slot #5	16:00-16:45	17:00-17:45
  Slot #6	17:00-17:45	18:00-18:45
  Slot #7	18:00-18:45	19:00-19:45

• Electronic Roadshow Information:
• • www.netroadshow.com/nrs/home/#!/?show=52971755
  • Visit www.netroadshow.com and enter the deal entry code: Panda2026

Biz: a global chemicals and energy company. HQ: Johannesburg, South Africa.