SASOL LIMITED - Announcement regarding repurchase of preferred ordinary shares from Sasol Inzalo Groups Funding Proprietary Limited

Announcement regarding repurchase of preferred ordinary shares from Sasol Inzalo Groups Funding Proprietary Limited

Sasol Limited
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes:      JSE: SOL         NYSE: SSL
Sasol Ordinary ISIN codes:       ZAE000006896 US8038663006
Sasol BEE Ordinary Share code: JSE: SOLBE1
Sasol BEE Ordinary ISIN code: ZAE000151817
("Sasol" or “the Company”)


Announcement regarding repurchase of preferred ordinary shares from Sasol Inzalo Groups Funding
Proprietary Limited (RF) (“Inzalo Groups Funding”)

1.      Shareholders are reminded that at a general meeting held on 17 November 2017, Sasol shareholders
        authorised the Company, by way of a specific authority, to repurchase all or some of the unlisted Sasol preferred
        ordinary shares (“Preferred Ordinary Shares”) held by Inzalo Groups Funding at the 30-day volume weighted
        average price (“VWAP”) of a Sasol ordinary share of no par value (“SOL Share”) on the business day
        immediately prior to the date of the repurchase since the Preferred Ordinary Shares would have, had they not
        been repurchased today, redesignated as SOL Shares on Wednesday, 27 June 2018.

2.      The 30-day VWAP of a SOL Share on 25 June 2018 was R475,03.

3.      Sasol today repurchased 9 461 882 Preferred Ordinary Shares from Inzalo Groups Funding for a purchase
        price of R475,03 per Preferred Ordinary Share (“the Repurchase”).

4.      After deducting the proceeds of the Repurchase of the Preferred Ordinary Shares from the aggregate amount
        outstanding in respect of the preference shares issued by Inzalo Groups Funding, the preference share funding
        shortfall remaining due as regards the Class C preference shares (together with costs and taxes) is R59,42
        million. On 27 June 2018, Sasol will subscribe for 1 ordinary share in Inzalo Groups Funding for an amount of
        R59,42 million, so as to place Inzalo Groups Funding in funds to settle the Class C preference share funding
        shortfall and any applicable costs and taxes. By doing so, Sasol ensures that the guarantee which it gave to the
        holders of Class C preference shares in Inzalo Groups Funding will not be called up.

5.      The financial effect of the Repurchase on Sasol’s earnings per share, headline earnings per share and net asset
        value per share will be limited to the legal fees, the taxes levied by the South African Revenue Services and the
        JSE documentation fee, which are considered negligible. The Repurchase will be funded from Sasol’s available
        cash resources.

Sandton
26 June 2018

Sponsor
Deutsche Securities (SA) Proprietary Limited

Sole Financial Advisor
Rothschild (South Africa) Proprietary Limited

Joint South African Legal Advisors
Edward Nathan Sonnenbergs Inc
Ledwaba Mazwai Attorneys

US Legal Advisors
Shearman & Sterling

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