Edgar Filing: SASOL LTD

Page 1

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Report on Form 6-K for September 12, 2016

Commission File Number 1-31615

Sasol Limited

1 Sturdee Avenue

Rosebank 2196

South Africa

(Name and address of registrant’s principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-
F or Form 40-F.

Form 20-F __X__ Form 40-F _____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): ____

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted
solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): ____

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted
to furnish a report or other document that the registrant foreign private issuer must furnish and make
public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant’s “home country”), or under the rules of the home country exchange on
which the registrant’s securities are traded, as long as the report or other document is not a press
release, is not required to be and has not been distributed to the registrant’s security holders, and, if
discussing a material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is
also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.

Yes _____ No __X__

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b):
82-_______________.

Enclosures: Audited financial results for the year ended

30 June 2016

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")

AUDITED FINANCIAL RESULTS
for the year ended 30 June 2016

Sasol is an international integrated chemicals and energy company that leverages
technologies and expertise of our 30 100 people working in 33 countries. We develop and
commercialise technologies, and build and operate world-scale facilities to produce a range
of high-value product streams, including liquid fuels, chemicals and low-carbon electricity.

2016 PERFORMANCE OVERVIEW

- Solid operational performance across most of the value chain
- Record production volumes at Secunda Synfuels Operations
- Normalised sales volumes
- Performance Chemicals up 1,8%, Base Chemicals down 2,6%
- Liquid fuels remained flat, 2% up on market guidance
- Business Performance Enhancement Programme delivered
- Sustainable actual cost savings of R4,5bn
- Updated target exit run rate of R5,4bn by 2018
- Response Plan cash savings exceeding expectations
- R28bn cash savings delivered for the year
- R12bn above 2016 target
- Updated sustainable savings target to R2,5bn by 2019, up R1bn
- Lake Charles Chemicals Project 50% complete
- Addressing challenges with projection execution
- Significantly sharpened focus on cost and schedule delivery, following the increase in project
cost to US$11bn
- Headline earnings per share down 17% to R41,40, despite an average 25% decline in Rand oil prices
- Safety Recordable Case Rate (RCR), excluding illnesses, improved to 0,29, regrettably two fatalities*
- Normalised cash fixed costs down 8,1% in real terms
- Liquid fuels BEE partner, Tshwarisano, investment now fully unencumbered
- Direct and indirect taxes paid to South African Government R36,8 billion

* Subsequent to 30 June 2016, we experienced three tragic fatalities of which two were due to motor
vehicle accidents on public roads. Management has implemented focused interventions to ensure
safe operations.

Segment report
for the year ended 30 June

Turnover

Operating profit/(loss)

R million

2014

2015

2016

Segment analysis

2016

2015

2014

19 342

20 859

21 186

Operating Business Units

(6 975)

1 173

(3 527)

14 134

15 687

16 975

Mining

4 739

4 343

2 453

Exploration and Production

5 208

5 172

4 211

International

(11 714)

(3 170)

(5 980)

204 666

187 312

173 042

Strategic Business Units

29 831

45 448

50 013

86 052

75 800

64 341

Energy

14 069

22 526

31 423

45 040

39 728

35 067

Base Chemicals

4 486

10 208

6 742

73 574

71 784

73 634

Performance Chemicals

11 276

12 714

11 848

221

108

Group Functions

1 383

(72)

(668)

224 061

208 392

194 336

Group performance

24 239

46 549

45 818

(21 378)

(23 126)

(21 394)

Intersegmental turnover

202 683

185 266

172 942

External turnover

Overview

In 2016, we continued to adapt to a tough operating environment created by the further dramatic drop
in global oil and commodity prices. We have seen oil prices drop to as low as US$27 per barrel (/bbl) in
January 2016 and somewhat recovering to US$48/bbl by June 2016. As anticipated, commodity chemical
prices also followed the declining trend of global oil prices.

The work we have undertaken since 2012 to reposition Sasol and sustainably reduce our cost base proved
invaluable, as it allowed us to sustainably withstand a lower for much longer oil price environment. We have
further intensified and increased the targets of our low oil price Response Plan (RP) to make our business
even more resilient in the short-term, without compromising on safety and the operational integrity of our
operations. The current low oil price environment has however, as expected, impacted our financial results,
as well as those of our competitors.

While global oil prices are beyond our control, we have performed strongly on the factors within our
control. We delivered a solid set of production volumes across most of the value chain, contained cost
increases to well below inflation and heightened our focus on the delivery of capital projects.

Notwithstanding the uncertain global markets and volatile macroeconomic environment, under our new
leadership, given the strength of our diversified asset base and high performance culture, we will continue
to deliver maximum sustainable value to our shareholders.

Joint Presidents and Chief Executive Officers, Bongani Nqwababa and Stephen Cornell say:

"We are excited to be taking over as Sasol's Joint Presidents and Chief Executive Officers. We have been
working together over the last six months to clearly define how we will lead Sasol, address the challenges
the company is facing and pursue the exciting opportunities ahead.

Sasol's global operations continue to perform well, with our Secunda Operations reporting record production
volumes. Our cost reduction and cash savings initiatives are exceeding their targets, which places us on a
sound footing as we gear up our balance sheet to complete the world-scale, company-changing investment
in Louisiana in the US.

Although the capital expenditure for our Lake Charles Chemicals Project has increased, we remain confident
that the fundamental drivers for this investment are sound. The cost and schedule review process, which
was completed in August 2016, has set a solid platform for the continued execution of this project. In
Mozambique, we continue to advance our growth projects to further develop our footprint in that region. We
look forward to building on Sasol's past successes, as we lead the company forward and continue to grow in
both Southern Africa and North America.

In the medium-term, we will continue to focus on pursuing zero harm, building a resilient organisation for
the future, nurturing our foundation businesses, delivering sustainable growth and clarifying our future
investment opportunities."

Financial results overview*

Earnings attributable to shareholders for the year ended 30 June 2016 decreased by 55% to R13,2 billion from
R29,7 billion in the prior year. Headline earnings per share (HEPS) decreased by 17% to R41,40 and earnings
per share (EPS) decreased by 56% to R21,66 compared to the prior year.

Operating profit of R24,2 billion decreased by 48% compared to the prior year on the back of challenging
and highly volatile global markets. Average Brent crude oil prices moved dramatically lower by 41% compared
to the prior year (average dated Brent was US$43/bbl for the year ended 30 June 2016 compared with
US$73/bbl in the prior year). Although commodity chemical prices were lower due to depressed oil prices,
there was still strong demand and robust margins in certain key markets. The average basket of commodity
chemical prices decreased by 22% compared to a 41% decrease in oil. However, the average margin for
our speciality chemicals business remained resilient compared to the prior year. The effect of lower oil
and commodity chemical prices was partly offset by a 27% weaker average rand/US dollar exchange rate
(R14,52/US$ for the year ended 30 June 2016 compared with R11,45/US$ in the prior year). On average, the
rand/bbl oil price of R630 was 25% lower compared to the prior year.

* All comparisons refer to the prior year ended 30 June 2015. Except for earnings attributable to
shareholders
and the RP cash conservation measures, all numbers are quoted on a pre-tax basis.

The highlights of our operational performance can be summarised as follows:

- Secunda Synfuels Operations (SSO) increased production volumes by 1%, or 97 kilo tons (kt), compared to
the prior year, to a record 7,8 million tons;

- Production volumes at our Eurasian Operations, increased by 4% compared to the prior year;

- Total liquid fuels production for the Energy business increased by 1% (0,6 million barrels) compared to
the prior year due to higher total production volumes by SSO, continued stable operations at the Natref
Operations and a greater portion of SSO's volumes being utilised by the Energy business as a result of
planned commissioning activities associated with the C3 Expansion Project;

- The average utilisation rate of our ORYX GTL facility in Qatar was impacted by a planned extended
statutory shutdown in the third quarter of the financial year. Subsequent to the shutdown, utilisation
rates averaged above 100% of nameplate capacity, enabling us to achieve an overall utilisation rate of
81%, which is in line with previous market guidance provided;

- Secunda Chemical Operations' production volumes were 1% higher than in the prior year;

- Despite the largest planned statutory shutdown since its inception, Sasolburg Operations' production
volumes remained in line with the prior year. The planned extended statutory shutdown resulted in a 21%
decrease in ammonia production compared to the prior year. This was partly offset by the slightly slower
than planned ramp-up of our FTWEP facility which contributed 8 kt per annum of additional hard wax
production during the year. Normalised production volumes for the Sasolburg site increased by 2%;

- Sales volumes from our Base Chemicals business decreased by 8% as a result of a planned extended
shutdown to enable the commissioning activities of the C3 Expansion Project, subdued demand for
explosives and fertilizers and a planned stock build. Normalised sales volumes decreased by 2,6% on a
comparable basis; and

- Sales volumes from our Performance Chemicals business, normalised for the planned shutdowns at our
Sasolburg facilities and ethylene plant in North America, increased by 1,8% compared to the prior year.

We continued to drive our cost containment programme and held cash fixed costs flat in nominal terms
compared to the prior year. Excluding the impact of inflation, exchange rates and a reduction in once-
off costs, our cash fixed costs reduced by 8,1% in real terms compared to the prior year. The strong cost
performance was achieved by an accelerated sustainable delivery of our Business Performance Enhancement

Programme (BPEP) and RP.

Given a lower for much longer oil price environment, we have revised our company-wide BPEP to achieve
sustainable savings at an exit run rate of R5,4 billion by the end of the 2018 financial year. In 2016, we
delivered actual sustainable cost savings of R4,5 billion, exceeding our exit run rate target of R4,3
billion. Cost trends are still forecasted to track South African producers' price index (SA PPI) from the
2017 financial year. Implementation costs amounted to R278 million for the year compared to R1,9 billion in
the prior year.

Our comprehensive RP, focusing on cash conservation in reaction to the lower for much longer oil price
environment, has continued to yield positive cash savings in line with our 2016 financial year targets,
despite margin contraction and difficulties experienced in placing product. The RP realised R28 billion of
cash savings for the year and exceeded the upper end of our original 2016 financial target of cash savings
of R16 billion by R12 billion. The RP places the company in a strong position to operate profitably within a
US$40-50/bbl oil price environment. During the year, we updated and extended the scope of the RP to at least
the 2018 financial year to ensure continued balance sheet strength and earnings resilience at notably lower
oil price scenarios. We also increased the target from R30 billion to R50 billion to between R65 billion and
R75 billion. Most of the savings will be delivered from the current RP work streams. We expect our
sustainable cash cost savings to increase to R2,5 billion by the 2019 financial year, up R1 billion from the
previous market guidance provided of R1,5 billion.

Labour transitioning processes relating to the BPEP and RP were concluded during 2016 and we expect
our full time equivalent sustainable headcount, excluding our growth projects, to remain at approximately
30 000, a 15% decrease from the 2013 base of approximately 35 400. In South Africa, we have concluded wage
negotiations within the Petroleum and Industrial Chemical sectors. Negotiations with the Mining sector were
successfully concluded with four of the five unions. Negotiations with the Association of Mineworkers and
Construction Union (AMCU) are continuing.

Sasol's profitability was impacted by the following notable once-off and significant items:

- a net remeasurement items expense of R12,9 billion compared to a R0,8 billion expense in the prior year.
These items relate mainly to partial impairments of our low density polyethylene cash generating unit
in the United States (US) of R956 million (US$65 million) and our share in the Montney shale gas asset of
R9,9 billion (CAD880 million) due to a further deterioration of conditions in the North American gas
market resulting in a decline in forecasted natural gas prices. We expect the low gas price environment to
continue in the short to medium-term;

- a cash-settled share-based payment charge to the income statement of R371 million compared to a credit
of R1,4 billion in the prior year. The credit in the prior year was largely due to a 29% decrease in the
share price in financial year 2015; and

- the reversal of a provision of R2,3 billion (US$166 million) based on a favourable ruling received from
the Tax Appeal Tribunal in Nigeria relating to the Escravos Gas-to-Liquids (EGTL) project.

The increase in the effective corporate tax rate from 31,7% to 36,6% was mainly as a result of the
R9,9 billion (CAD880 million) partial impairment of our Canadian shale gas assets which was partially offset
by the recognition of a previously unrecognised deferred tax asset on the Production Sharing Agreement (PSA)
in Mozambique of R945 million. The normalised effective tax rate, excluding equity accounted investments,
remeasurement items and once-off items, is 28,2% compared to 33,0% in the prior year, which is in line with
our previous market guidance.

The valuation of our assets and liabilities were significantly impacted by the weaker rand/US dollar exchange
rate, resulting in higher translation effects. Actual capital expenditure, including accruals, of R70,4
billion, is below our market guidance of R74 billion largely due to our cash conservation initiatives and
actively managing the capital portfolio. This includes R42,4 billion (US$2,9 billion) relating to the Lake
Charles Chemicals Project (LCCP).

Loans raised during the year amounted to R37 billion, mainly for the funding of the LCCP. Our net cash
position remained favourable and decreased marginally by 2%, from R53 billion in June 2015 to R52 billion
as at 30 June 2016, driven largely by our cash conservation initiatives and the impact of the favourable
rand/US dollar translation effect.

Cash generated by operating activities decreased by only 12% to R54,7 billion compared with R61,8 billion in
the prior year, despite an average 25% decrease in Rand oil prices. Notwithstanding reduced cash flows, our
balance sheet has the capacity to lever up, as we continue to execute our growth plans and return value to
our shareholders. Although our gearing increased to 14,6% compared to an ungeared 2,8% in the prior year, it
remains below our previous market guidance of 20% to 40%, mainly as a result of a stronger than anticipated
rand/US dollar exchange rate and delayed capital expenditure on a number of projects, including the LCCP. To
manage the impact of price volatility and the lower for longer oil price environment, the Sasol Limited board
of directors (Board) temporarily lifted our internal gearing ceiling to 44% until the end of the 2018
financial year. The net debt: EBTIDA ratio is forecasted to be below 2,0 times. We actively manage our
capital structure and funding plan to ensure that we maintain an optimum solvency and liquidity profile.

Our dividend policy is to pay dividends within a dividend cover range based on HEPS. Taking into account the
current volatile macroeconomic environment, capital investment plans, our cash conservation initiative, the
current strength of our balance sheet, and the dividend cover range, the Board has declared a final gross
dividend of R9,10 per share (21% lower compared to the prior year). The final dividend cover was 2,8 times at
30 June 2016 (30 June 2015: 2,7 times).

Solid operational performance supported by continued effective cost management

Operating Business Units

Mining – continued stable operations and unit cost below inflation

Operating profit increased by 9% to R4 739 million compared to the prior year, mainly as a result of
meaningful contributions from the BPEP and RP levers. Normalised unit costs of production were contained
to 5% below inflation for the second consecutive year. Our Syferfontein colliery produced a South African
record of 11 million tons of production by an underground mine in a financial year. Export coal volumes
decreased by 6% to 3,2 million tons and continued to benefit from the weaker rand/US dollar exchange rate.

Exploration and Production International – strong Mozambique operations delivery, however rest of
business negatively impacted by low oil and gas prices

Exploration and Production International (E&PI) recorded an operating loss of R11 714 million compared to an
operating loss of R3 170 million in the prior year. Excluding the partial impairment of our Canadian shale
gas operations of R9 882 million (CAD880 million), our E&PI business recorded a loss of R1 832 million.

Our Mozambican operations recorded a profit of R1 128 million compared to a profit of R1 847 million
in the prior year. The decrease is mainly due to translation losses of R673 million. Production volumes
increased by 5% as a result of our efforts to debottleneck the production facility, coupled with the increase
in gas transportation capacity to 169 billion standard cubic feet (bscf) and a full volume offtake by our
joint electricity operations in Mozambique.

The lower oil price had a significant impact on our Gabon asset resulting in a loss of R994 million compared
to a R1 124 million loss in the prior year, which included the partial impairment of the asset of R1 331
million. The new development wells which were brought on line during the financial year resulted in a 16%
higher average of 18 824 barrels of oil production per day (on a gross basis) when compared to 16 284 barrels
in the prior year.

Our Canadian shale gas asset in Montney generated an operating loss of R10 957 million, including a partial
impairment of R9 882 million. Excluding the effect of the partial impairment, the loss decreased to R1 075
million compared to R1 153 million in the prior year, mainly due to a lower depreciation rate. Our Canadian
gas production volumes were 5% lower compared to the prior year due to reduced development activities,
driven by lower gas prices. In order to manage the shale gas asset through the low gas price environment, we
concluded an agreement with our partner, Progress Energy, to settle the outstanding funding commitment
of R4 160 million (CAD380 million) and reduce the pace of appraisal, development and drilling activities. An
18-month reduced work programme was approved in June 2016.

Despite the impact of lower gas prices and weaker oil prices affecting the profitability of the business,
E&PI contributed R5,1 billion to Sasol's cash conservation initiatives during the year through reduced
capital cash flow and exploration spend and cash fixed cost savings.

Strategic Business Units

Performance Chemicals – continued business resilience in a low oil price environment

Operating profit of R11 276 million decreased by 11% compared to the prior year mainly as a result of the
R2 021 million FTWEP impairment reversal in the prior year. Normalising for this impact, operating profit
increased by 5%. Our operating margin reflects the full annual depreciation charge being recognised on
FTWEP, while the project is still ramping up to full production. The increase in operating profit is largely
as a result of the weaker rand coupled with the resilience of the margins in our European surfactants and
alcohols businesses, negated by lower ethylene prices which negatively impacted the margins of our assets in
the US. Production volumes in our Eurasian Operations increased by 4%, while production volumes at our US
Operations remained flat compared to the prior year.

Total sales volumes decreased marginally by 1% compared to the prior year, as a result of planned shutdowns
at our ethylene plant in North America and our production facilities in Sasolburg, and reduced demand for
oilfield chemicals. The decrease in wax and ammonia sales volumes were compensated by an increase of 4%
in organic sales volumes. Normalised sales volumes were up by 1,8%. Normalised cash fixed costs decreased
by 5,2%, in nominal terms, mainly as a result of BPEP and RP initiatives.

Base Chemicals – margin pressure partly relieved by improved cost performance

Operating profit decreased by 56% to R4 486 million compared to the prior year, and the operating
margin decreased from 26% in the prior year to 13%. Excluding the partial impairment of our low density
polyethylene cash generating unit in the US of R956 million (US$65 million) and R537 million impairment of
our methyl isobutyl ketone business in Sasolburg, and other once-off items, operating profit decreased by
33% to R5 979 million compared to the prior year.

Sales volumes were down by 8% as a result of a planned extended shutdown to enable commissioning
activities associated with the C3 Expansion Project, subdued demand for explosives and fertilizers and
a planned stock build. Normalised sales volumes were down by 2,6%, of which 1% relates to the planned stock
build. A 22% decrease in our basket of commodity chemical prices was partly negated by the weaker rand/US
dollar exchange rate. In nominal terms, we reduced our cash fixed costs by 1,5% compared to the prior year,
mainly as a result of benefits achieved from the BPEP and RP initiatives and a refinement of our cost
transfer allocation methodology between SBUs.

Energy – record production volumes and solid cost performance, margins under some pressure

Operating profit of R14 069 million decreased by R8 457 million or 38% compared to the prior year despite a
41% reduction in crude oil prices. Operating margins held firm at 22%, mainly as a result of record
production volumes, higher liquid fuels sales through higher yielding marketing channels, the weaker rand/US
dollar exchange rate and contributions from the BPEP and RP initiatives. Normalised cash fixed costs remained
flat in nominal terms.

The total production of refined product increased by 1% at both SSO and Natref Operations compared to the
prior year. Sales volumes, however, remained flat on the back of challenging market and trading conditions

experienced during the first half of the financial year, driven by lower demand for liquid fuels in Southern
Africa, specifically in the agricultural, mining and manufacturing sectors. Gas sales volumes were 1% higher
compared to the prior year, mainly due to higher methane-rich gas sales to commercial customers. Our share
of the Central Térmica de Ressano Garcia (CTRG) joint operation in Mozambique delivered 653 gigawatt-
hours of electricity.

As a result of the attractive returns generated by Sasol Oil (Pty) Ltd over many years, in February 2016 our
black economic empowerment partner, Tshwarisano LFB (which holds 25% of the shares of Sasol Oil (Pty)
Ltd), settled the last remaining portion of its debt relating to its equity shareholding. This represents the
realisation of one of our key objectives over many years to deliver on transformation in the liquid fuels
industry.

Energy's share of losses from equity accounted investments of R19 million, declined by R1 442 million
compared to the prior year, mainly due to lower global oil prices. The ORYX GTL facility achieved an average
utilisation rate of 81%, while maintaining a world class safety recordable case rate of 0,0. In Nigeria, the
EGTL plant is still in its ramp-up phase and working towards stable operation to maximise diesel and naphtha
production. A ramp-up in production volumes is expected following the planned shutdown that will occur
during the first half of the 2017 financial year.

During February 2016, in light of the current economic environment, we decided to review our long-term
strategic interest in the Uzbekistan Gas-to-Liquids (GTL) investment. As a result, in April 2016, we decided
to withdraw from our equity participation in the project. This resulted in a net loss of R563 million.

Focusing on the LCCP in the US

Overall construction on the LCCP continues on all fronts, with most engineering activities nearing completion
and procurement well advanced. At 30 June 2016, the capital expenditure was US$4,8 billion, and the
overall project completion was around 50%.

A detailed review on the LCCP confirmed that the total capital cost for the project is expected to be
US$11 billion, which includes site infrastructure and utility improvements. This is an increase of US$2,1
billion from the original estimate at the time of final investment decision (FID) in October 2014. This
estimate includes a contingency, which measured against industry norms for this stage of project completion,
is considered sufficient to effectively take the project to beneficial operation (BO) within the revised cost
estimate. The schedule has not been impacted by the increase in cost estimate.

The US$2,1 billion capital cost increase is mostly attributable to the following factors, in an approximately
equal proportion:

- a significant increase in site and civil costs, 50% more weather day delays and much lower field
productivity;

- an increase in the home office and construction costs of the Engineering, Procurement, Construction and
Management Contractor (EPCM); and

- an increase in labour costs and lump-sum contracts placed at higher rates than estimated.

Notwithstanding these challenges, various other savings opportunities have been identified and are being
implemented to mitigate the increase in the overall capital cost estimate. With the project now over 50%
complete, several changes have been, or are in the process of being, implemented which are intended to
ensure that the project has a good probability of being completed within the updated cost and schedule
guidance. These actions address the root causes of process weaknesses identified during the detailed review
process and include improved productivity and construction readiness that will be achieved through focused
risk management processes, improved phasing of engineering, cost-effective mobilisation of resources
and synchronised workface planning, improved change management practices and key project leadership
personnel changes.

Although unplanned event-driven risks may still impact the execution and cost of the project, we are
confident that the remaining construction, procurement, execution and business readiness risks can be
managed within the estimate as a result of these changes.

Even though the expected capital expenditure for LCCP has increased, we do not expect this to result in the
company exceeding its self-imposed gearing targets. Our funding strategy has not changed as a result of
the higher estimated capital expenditure and the project will continue to be funded from existing facilities
and ongoing group cash flow. Despite the lower expected returns, we still consider the LCCP to be a sound
investment that will return value to our shareholders for many years into the future. Further details are
available in the Investor Fact Sheet on the Sasol website, www.sasol.com.

Advancing other projects to enable future growth

We are encouraged by the headway we are making in delivering on our project pipeline:

- Focusing on our asset base in Southern Africa:

- Our strategic R14,0 billion mine replacement programme, which will ensure uninterrupted coal supply
to SSO in order to support Sasol's strategy to operate its Southern African facilities until 2050, is
nearing completion. The Impumelelo colliery achieved BO during October 2015, within budget. The
Shondoni colliery achieved BO, within budget, during April 2016.

- We completed the Secunda growth programme below budget, with actual spend of R13,8 billion. The
completed projects ensured the full realisation of the envisaged volume and electricity benefits.

- The expansion of our FT Wax facility in Sasolburg is progressing well. BO for phase two is on track for
the first half of the 2017 calendar year. The total project cost for both phases remains unchanged at

R13,6 billion.

- Construction of the R2,7 billion Loop Line 2 project on the Mozambique to Secunda Pipeline (MSP) has
progressed well, following the Final Investment Decision taken during August 2015. Loop Line 2 will
increase the MSP's annual gas transportation capacity from 169,4 bscf to 191,0 bscf. BO is expected
to be reached during the first quarter of the 2017 calendar year. The project is on schedule and within
budget.

- As part of Sasol's efforts to grow its interest in Mozambique, a Field Development Plan (FDP)
was submitted to the Mozambican regulatory authorities in February 2015 for the first phase of
development of the Production Sharing Agreement (PSA) licence area. The PSA FDP was approved
by the Government of Mozambique on 26 January 2016. The first phase of the PSA licence area
development consists of an integrated oil, liquefied petroleum gas (LPG) and gas project adjacent
to the Petroleum Production Agreement area. We also received approval from the Government of
Mozambique, in January 2016, to develop a fifth train at the Central Processing Facility to process
additional gas from the PSA licence area. The total estimated project cost for tranche one of the first
phase of the PSA licence area and the fifth train is estimated at US$1,4 billion. The project is in its
early stages of execution with the drilling rig proceeding with the 13 well drilling programme.

- Growing our footprint in North America:

- Construction of our 50% joint venture high-density polyethylene plant with Ineos Olefins and Polymers
USA continues to progress, and is on track for mechanical completion early in the 2017 calendar year.
Upon completion, the plant will be the largest bi-modal high density polyethylene (HDPE) manufacturing
facility in the US with a nameplate capacity of 470 kt annually. Our current approved capital is US$299
million (Sasol share), however, the operator (our joint venture partner) is experiencing more cost and
schedule pressure in delivering the project. We continue to work with our joint venture partner to
manage these pressures on the project and an update will be provided at the mid-year results
announcement. The start-up is also coming at a more opportune time as market conditions remain
favourable due to lower feedstock costs along with the premium margins associated with bi-modal resins.

Maintaining our focus on sustainable value creation

We continued to deliver on our broader sustainability and community contributions during the year:

- Safety remains a top priority for Sasol. Regrettably, we did however experience the loss of two of our
colleagues during the financial year. Our thoughts remain with these colleagues' families and friends. Our
safety RCR for employees and service providers, excluding illnesses, improved to 0,29 at 30 June 2016
(0,32 as at 30 June 2015). We have increased our focus on safety and strive for zero harm.

- During the year, we invested R1,2 billion in skills development and socioeconomic development, which
includes our Ikusasa programme, bursaries, learnerships and artisan training programmes. The Ikusasa
programme focuses on education, health and wellbeing, infrastructure, and safety and security in the
Secunda and Sasolburg regions. We invested R50 million in Secunda and R34 million in Sasolburg during
the year, with a further R89 million planned for 2017. The total planned Ikusasa investment amounts to
R800 million.

- As part of our commitment to communities and the Ikusasa programme, we distributed over 100 new
bursaries and scholarships in South Africa, Mozambique and the US. We held the Sasol Techno X expo in
South Africa hosting 22 000 learners from 300 schools; invested in artisan training benefitting 60 young
people in Mozambique and South Africa; upgraded 3 clinics and constructed 2 new clinics in South Africa
and Mozambique; upgraded 4 sewer reticulation systems in South Africa; and installed a new electrical
substation in Secunda. In the US, we initiated monthly certification workshops to enable the local
community to access business opportunities.

- While we support the transition to a lower carbon economy, we are concerned that the proposed carbon
tax in South Africa will diminish the country's competitiveness. It also cannot address the structural
issues that lie at the heart of the country's greenhouse gas intensity. The proposed design of the carbon
tax creates substantial regulatory and investment uncertainty as there is insufficient clarity relating to
the phases of the tax proposed in the draft carbon tax bill, especially post 2020. This is exacerbated by
the fact that the carbon tax is not aligned with the carbon budget system which is currently in the trial
phase of implementation. Sasol continues to engage with the South African Government on the carbon
tax issue.

- To ensure our ongoing compliance with new air quality regulations in South Africa, Sasol applied for
certain postponements to manage our short-term challenges relating to the compliance timeframes. We
have received decisions on our postponement applications from the National Air Quality Officer, which,
while aligned with our requests, imposed stretched targets in terms of our atmospheric emission licences.
Our R2,8 billion volatile organic compound abatement programme remains on track to achieve our
targeted reductions of volatile organic compounds emissions by 2020.

- We continue to measure our comprehensive climate change response in accordance with our key
performance indicators. Our total greenhouse gas (GHG) emissions globally reduced marginally to
69,3 million tons compared to 69,8 million tons in the prior year. Our GHG emissions intensity (measured
in carbon dioxide equivalent per ton of production) increased to 3,68 compared to 3,58 (restated) in
the prior year. GHG targets in South Africa are being developed in conjunction with the South African
government's process for setting carbon budgets.

- The 2016 utility Energy Intensity Index (EII) for our operations in South Africa improved by 0,7% from the
previous year. In accordance with the new National Energy Efficiency Strategy for 2030, Sasol's 2015
fiscal year result will be the new baseline for measuring the next 15 years' energy efficiency
performance. For the 2016 financial year, we excelled beyond our internal target of sustaining the final
performance under the voluntary Energy Efficiency Accord which came to an end in 2015, demonstrating our
commitment to continued energy efficiency.

- During the year, we paid R36,8 billion in direct and indirect taxes to the South African government. Sasol
remains one of the largest corporate taxpayers in South Africa, contributing significantly to the
country's economy.

- In 2016, in terms of the Department of Trade and Industry's revised Codes of Good Practice, our B-BBEE
contributor status declined to level 8 from level 4. We view B-BBEE in South Africa as a business
imperative and have embarked on a project to realise the goals envisaged by the revised codes by 2020.

Profit outlook* – solid production performance and cost reductions to continue

The current economic climate remains volatile and uncertain. While the outcome of the United Kingdom
referendum, regarding its exit of the European Union, adds a further element of uncertainty and downside
risk to the global economic outlook, we expect moderate global growth to be maintained, with advanced
economies generally performing better than commodity- and oil-exporting nations. In the short-term, high
oil inventory levels are expected to continue weighing on the market, but as more evidence emerges of lower
non-OPEC production, the oil price cycle is likely to turn higher. The extent and timing of this upturn
remains unpredictable. Although the rand showed some resilience in recent months, it is believed that the
currency still faces a number of near-term depreciation risks as the possibility for a sovereign credit
downgrade has not been eliminated, domestic growth prospects remain challenging, and emerging market
sentiment is still fragile. As oil price and foreign exchange movements are outside our control, our focus
remains firmly on managing factors within our control, including volume growth, cost optimisation, project
execution, effective capital allocation and cash conservation.

We expect an overall strong operational performance for the 2017 financial year, with:

- Liquid fuels sales volumes for the Energy SBU in Southern Africa to be approximately 61 million barrels;

- Base Chemicals and Performance Chemicals sales volumes to be higher than the prior year;

- A higher average utilisation rate at ORYX GTL in Qatar of approximately 90%;

- Improved utilisation rate at EGTL in Nigeria due to a steady ramp-up;

- Normalised cash fixed costs to remain in line with SA PPI;

- The RP cash flow contribution to range between R15 billion and R20 billion;

- BPEP cash cost savings to achieve an annual run rate of R5,4 billion by financial year 2018;

- Capital expenditure, including capital accruals, of R75 billion for 2017 and R60 billion in 2018 as we
progress with the execution of our growth plan and strategy. The LCCP capital spend market guidance has
been provided in the Investor Fact Sheet available on our website at www.sasol.com. Capital estimates
may change as a result of exchange rate volatility;

- Our balance sheet gearing up to a level of between 25% and 35%;

- Average Brent crude oil prices to remain between US$40 and US$50; and

- Ongoing rand/US dollar volatility due to various factors, including the pending outcome of the next review
of the South African sovereign credit rating and increased capital inflows resulting from investors
seeking higher yields globally, including South Africa.

* The financial information contained in this profit outlook is the responsibility of the directors and in
accordance with standard practice, it is noted that this information has not been reviewed and reported on
by the company's auditors.

Disposal of a business

In April 2016, we decided to withdraw from our equity participation in the Uzbekistan Gas-to-Liquids (GTL)
project, resulting in a loss of R563 million.

Subsequent events

In August 2016, Sasol completed its detailed review of the LCCP, and confirmed that a high degree of
certainty exists over the capital cost estimated at US$11 billion. The LCCP is more than 50% complete, and
after the implementation of improved change management practices and key project leadership personnel
changes, management remains confident that the project is a sound strategic investment that will return value
to our shareholders.

Competition law compliance

The South African Competition Commission is conducting continued proceedings against various petroleum
products producers, including Sasol. The Competition Commission is conducting an investigation into Sasol's
South African polymer business, and it is finalising a market inquiry in the South African LPG market. We
continue to interact and co-operate with the South African Commission in respect of the subject matter of
current leniency applications brought by Sasol, as well as in the areas that are subject to the Commission's
investigations. To the extent appropriate, further announcements will be made in future.

Appointment of Joint Presidents and Chief Executive Officers and change in directors

Mr David Constable resigned as President and Chief Executive Officer on 30 June 2016. Mr Bongani Nqwababa
and Mr Stephen Cornell were appointed Joint Presidents and Chief Executive Officers of the company, and Mr

Paul Victor as Chief Financial Officer and Executive Director, with effect from 1 July 2016. On
4 December 2015, Prof Jürgen Schrempp retired as a Director and Mr Henk Dijkgraaf was appointed as Lead
Independent Director. Mr Manuel Cuambe was appointed as a Non-Executive Director with effect from
1 June 2016. The company hereby announces that Ms Nolitha Fakude will resign as Executive Director and
Executive Vice President: Strategy and Sustainability with effect from 31 December 2016.

Publication of 2016 Annual Financial Statements and supplementary information

The annual financial statements for the financial year ended 30 June 2016, prepared in accordance with
International Financial Reporting Standards, have been posted, together with other additional information for
analysts, on the Sasol website at www.sasol.com.

Declaration of cash dividend number 74

A final gross cash dividend of South African 910,00 cents per ordinary share has been declared for the
financial year ended 30 June 2016. The cash dividend is payable on the ordinary shares and the Sasol BEE
ordinary shares. The Board is satisfied that the liquidity and solvency of the company, as well as capital
remaining after payment of the dividend is sufficient to support the current operations. The dividend has
been declared out of retained earnings (income reserves). The South African dividend withholding tax rate is
15%. At the declaration date, there are 651 389 516 ordinary (including 8 809 886 treasury shares), 25 547
081 Sasol preferred ordinary and 2 838 565 Sasol BEE ordinary shares in issue. The net dividend amount
payable to shareholders who are not exempt from the dividend withholding tax, is 773,50 cents per share,
while the dividend amount payable to shareholders who are exempt from dividend withholding tax is 910,00
cents per share.

The salient dates for holders of ordinary shares and Sasol BEE ordinary shares are:

Declaration date

Monday, 12 September 2016

Last day for trading to qualify for and participate in the final dividend
(cum
dividend)

Tuesday, 27 September 2016

Trading ex dividend commences

Wednesday, 28 September 2016

Record date

Friday, 30 September 2016

Dividend payment date (electronic and certificated register)

Monday, 3 October 2016

The salient dates for holders of our American Depository Receipts are(1):

Ex dividend on New York Stock Exchange (NYSE)

Wednesday, 28 September 2016

Record date

Friday, 30 September 2016

Approximate date for currency conversion

Tuesday, 4 October 2016

Approximate dividend payment date

Thursday, 13 October 2016

(1) All dates are approximate as the NYSE sets the record date after receipt of the dividend declaration.

On Monday, 3 October 2016, dividends due to certificated shareholders on the South African registry will
either be electronically transferred to shareholders' bank accounts or, in the absence of suitable mandates,
dividend cheques will be posted to such shareholders. Shareholders who hold dematerialised shares will have
their accounts held by their CSDP or broker credited on Monday, 3 October 2016. Share certificates may not be
dematerialised or re-materialised between 28 September 2016 and 30 September 2016, both days inclusive.

On behalf of the Board

Mandla Gantsho Bongani Nqwababa Stephen Cornell Paul Victor
Chairman Joint President and Joint President and Chief Financial Officer
Chief Executive Officer Chief Executive Officer
Sasol Limited
9 September 2016

The summarised financial statements are presented on a consolidated basis.

Income statement

for the year ended 30 June

2016

2015

2014

Turnover

172 942

185 266

202 683

Materials, energy and consumables used

(71 320)

(80 169)

(89 224)

Selling and distribution costs

(6 914)

(6 041)

(5 762)

Maintenance expenditure

(8 453)

(7 628)

(8 290)

Employee-related expenditure

(23 911)

(22 096)

(28 569)

Exploration expenditure and feasibility costs

(282)

(554)

(604)

Depreciation and amortisation

(16 367)

(13 567)

(13 516)

Other expenses and income

(9 073)

(9 912)

(7 415)

Translation gains/(losses)

1 070

(1 115)

798

Other operating expenses and income

(10 143)

(8 797)

(8 213)

Remeasurement items

(12 892)

(807)

(7 629)

Equity accounted profits, net of tax

509

2 057

4 144

Operating profit

24 239

46 549

45 818

Finance income

1 819

1 274

1 220

Finance costs

(2 340)

(2 230)

(1 925)

Profit before tax

23 718

45 593

45 113

Taxation

(8 691)

(14 431)

(14 696)

Profit for the year

15 027

31 162

30 417

Attributable to
Owners of Sasol Limited

13 225

29 716

29 580

Non-controlling interests in subsidiaries

1 802

1 446

837

15 027

31 162

30 417

Earnings per share

Rand

Basic earnings per share

21,66

48,71

48,57

Diluted earnings per share

21,66

48,70

48,27

Statement of comprehensive income

for the year ended 30 June

2016

2015

2014

Profit for the year

15 027

31 162

30 417

Other comprehensive income, net of tax
Items that can be subsequently reclassified

to the income statement

13 253

3 604

4 460

Effect of translation of foreign operations

15 112

3 590

4 477

Effect of cash flow hedges

(2 855)

–

(66)

Fair value of investments available-for-sale

(7)

Tax on items that can be subsequently reclassified to

the income statement

1 003

(2)

Items that cannot be subsequently reclassified

to the income statement

(546)

(593)

(22)

Remeasurements on post-retirement benefit obligations

(877)

(847)

(80)

Tax on items that cannot be subsequently reclassified to

the income statement

331

254

Total comprehensive income for the year

27 734

34 173

34 855

Attributable to
Owners of Sasol Limited

25 890

32 727

34 002

Non-controlling interests in subsidiaries

1 844

1 446

853

27 734

34 173

34 855

Statement of financial position
at 30 June

2016

2015

Assets
Property, plant and equipment

155 054

135 822

Assets under construction

104 011

61 977

Goodwill and other intangible assets

2 680

2 293

Equity accounted investments

13 118

11 870

Post-retirement benefit assets

614

590

Deferred tax assets

3 389

1 752

Other long-term assets

3 715

2 617

Non-current assets

282 581

216 921

Assets in disposal groups held for sale

1 064

Inventories

23 798

23 141

Trade and other receivables

30 913

29 973

Short-term financial assets

124

Cash and cash equivalents

52 316

53 351

Current assets

108 133

106 678

Total assets

390 714

323 599

Equity and liabilities
Shareholders' equity

206 997

191 610

Non-controlling interests

5 421

4 873

Total equity

212 418

196 483

Long-term debt

78 015

39 269

Long-term provisions

18 810

13 431

Post-retirement benefit obligations

12 703

10 071

Long-term deferred income

631

425

Long-term financial liabilities

2 844

Deferred tax liabilities

23 691

22 570

Non-current liabilities

136 694

85 774

Liabilities in disposal groups held for sale

–

Short-term debt

2 000

3 331

Short-term financial liabilities

855

198

Other current liabilities

38 611

37 479

Bank overdraft

136

319

Current liabilities

41 602

41 342

Total equity and liabilities

390 714

323 599

Statement of changes in equity

for the year ended 30 June

2016

2015

2014

Balance at beginning of year

196 483

174 769

152 893

Shares issued on implementation of share options

144

373

Share-based payment expense

123

501

267

Transactions with non-controlling shareholders in

subsidiaries

–

Total comprehensive income for the year

27 734

34 173

34 855

Dividends paid to shareholders

(10 680)

(12 739)

(13 248)

Dividends paid to non-controlling shareholders in

subsidiaries

(1 296)

(365)

(372)

Balance at end of year

212 418

196 483

174 769

Comprising
Share capital

29 282

29 228

29 084

Share repurchase programme

(2 641)

Retained earnings

164 917

161 078

144 126

Share-based payment reserve

(13 582)

(12 403)

(12 904)

Foreign currency translation reserve

33 316

18 289

14 704

Remeasurements on post-retirement benefit obligations

(2 533)

(1 976)

(1 413)

Investment fair value reserve

Cash flow hedge accounting reserve

(1 788)

(7)

Shareholders' equity

206 997

191 610

170 977

Non-controlling interests in subsidiaries

5 421

4 873

3 792

Total equity

212 418

196 483

174 769

Statement of cash flows

for the year ended 30 June

2016

2015

2014

Cash receipts from customers

175 994

186 839

203 549

Cash paid to suppliers and employees

(121 321)

(125 056)

(138 100)

Cash generated by operating activities

54 673

61 783

65 449

Cash flow from operations

52 356

56 422

69 174

Decrease/(increase) in working capital

2 317

5 361

(3 725)

Dividends received from equity accounted
investments

887

2 812

4 717

Finance income received

1 633

1 234

1 203

Finance costs paid

(3 249)

(2 097)

(499)

Tax paid

(9 329)

(10 057)

(13 647)

Dividends paid

(10 680)

(12 739)

(13 248)

Cash retained from operating activities

33 935

40 936

43 975

Total additions to non-current assets

(67 158)

(42 645)

(38 779)

Additions to non-current assets

(70 409)

(45 106)

(38 779)

Increase in capital project related payables

3 251

2 461

–

Settlement of funding commitment on Canadian
assets

(3 339)

–

Acquisition of interests in equity accounted
investments

–

(519)

Cash acquired on acquisition of equity accounted

investments

–

527

Additional investments in equity accounted
investments

(548)

(588)

(16)

Proceeds on disposals

569

1 210

1 538

Other net cash flow from investing activities

(558)

(62)

(564)

Cash used in investing activities

(71 034)

(42 085)

(37 813)

Share capital issued on implementation of share
options

144

373

Contributions from non-controlling shareholders in

subsidiaries

–

Dividends paid to non-controlling shareholders in

subsidiaries

296)

(365)

(372)

Proceeds from long-term debt

34 008

14 543

3 263

Repayments of long-term debt

(3 120)

(1 663)

(2 207)

Proceeds from short-term debt

2 901

2 686

2 346

Repayments of short-term debt

(3 369)

(2 280)

(2 497)

Cash generated by financing activities

29 178

13 065

909

Translation effects on cash and cash equivalents

7 069

3 095

455

(Decrease)/increase in cash and cash equivalents

(852)

15 011

7 526

Cash and cash equivalents at beginning of year

53 032

38 021

30 555

Reclassification to held for sale

–

(60)

Cash and cash equivalents at end of year

52 180

53 032

38 021

Salient features

for the year ended 30 June

2016

2015

2014

Selected ratios

Return on equity

6,6

16,4

18,5

Return on invested capital - including

Assets under construction

7,3

17,3

18,1

Return on invested capital - excluding

Assets under construction

12,1

27,5

29,2

Return on total assets

7,3

15,8

17,9

Operating profit margin

14,0

25,1

22,6

Finance costs cover

times

8,0

22,8

94,3

Net borrowings to shareholders' equity

(gearing)

14,6

(2,8)

(6,3)

Dividend cover – Headline earnings per
share

times

2,8

2,7

2,8

Share statistics

Total shares in issue

million

679,8

679,5

678,9

Sasol ordinary shares in issue

million

651,4

651,1

650,6

Treasury shares (share repurchase

programme) million

8,8

Weighted average number of shares

million

610,7

610,1

609,0

Diluted weighted average number of

shares million

610,7

610,2

620,8

Share price (closing)

Rand

397,17

450,00

632,36

Market capitalisation – Sasol ordinary

258 717

292 995

411 413

Market capitalisation – Sasol BEE ordinary

892

994 1

330

Net asset value per share

Rand

340,51

315,36

281,68

Dividend per share

Rand

14,80

18,50

21,50

– interim

Rand

5,70

7,00

8,00

– final

Rand

9,10

11,50

13,50

Other financial information

Total debt (including bank overdraft)

80 151

42 919

26 435

– interest bearing

79 175

42 187

25 830

– non-interest bearing

976

732

605

Finance expense capitalised

2 253

1 118

530

Capital commitments (subsidiaries and

joint operations)

137 286

116 236

59 058

– authorised and contracted for

143 380

109 448

66 491

– authorised but not yet contracted for

95 590

66 266

44 951

– less expenditure to the end of year

(101 684)

(59 478)

(52 384)

Capital commitments (equity accounted

investments) Rm

608

648

764

– authorised and contracted for

175

716

1 152

– authorised but not yet contracted for

756

691

438

– less expenditure to the end of year

(323)

(759)

(826)

Significant items in operating profit

– Restructuring costs related to our

business performance enhancement
programme(1)

235

1 682

1 131

Retrenchment packages provided for

–

165

269

Retrenchment packages settled during

the year

002

Accelerated share-based payments

–

157

417

Consultancy costs

328

320

System implementation costs

125

– Share-based payment expenses

494

(881)

5 652

Sasol share incentive schemes

371

(1 382)

5 385

Sasol Inzalo share transaction

123

501

267

Directors' remuneration, excluding long-

term incentives

Share appreciation rights with no

performance targets granted to directors

– cumulative

000

–

Share appreciation rights with
performance targets granted to directors

– cumulative

000

518

535

Long-term incentive rights granted to

directors – cumulative

000

290

195

157

Sasol Inzalo share rights granted to

directors – cumulative

000

Effective tax rate

36,6

31,7

32,6

Adjusted effective tax rate(2)

28,2

33,0

31,4

Number of employees(3)

number

30 100

30 919

33 400

Average crude oil price – dated Brent

US$/barrel

43,37

73,46

109,40

Average rand/US$ exchange rate

1US$ = Rand

14,52

11,45

10,39

Closing rand/US$ exchange rate

1US$ = Rand

14,71

12,17

10,64

(1) In addition to these costs, an additional R43 million (2015 – R224 million; 2014 – R148 million) of
internal resources was allocated to the project, bringing the total spend for the year to R278 million
(2015 – R1 906 million; 2014 – R1 279 million).
(2) Effective tax rate adjusted for equity accounted investments, remeasurement items and once-off items.
(3) The total number of employees includes permanent and non-permanent employees and the group's share of
employees within joint operations, but excludes contractors and equity accounted investments' employees.

2016

2015

2014

Reconciliation of headline earnings

Earnings attributable to owners of Sasol

Limited

13 225

29 716

29 580

Effect of remeasurement items for

subsidiaries and joint operations

12 892

807

7 629

Impairment of property, plant and

equipment

8 424

294

3 289

Impairment of assets under construction

3 586

2 555

2 625

Impairment of equity accounted investment

275

Impairment of goodwill and other intangible

assets

310

Impairment of other assets

Reversal of impairment

(2 036)

(1)

(Profit)/loss on disposal of non-current

assets

(389)

(93)

Loss on disposal of investments in

businesses

226

410

747

Fair value gain on acquisition of businesses

(110)

Scrapping of non-current assets

1 099

549

634

Write-off of unsuccessful exploration wells

(3)

Realisation of foreign currency translation

reserve

(361)

(876)

Tax effects and non-controlling interests

(846)

(165)

(582)

Effect of remeasurement items for equity

accounted investments

(1)

Headline earnings

25 284

30 357

36 640

Headline earnings adjustments per

above

Mining

Exploration and Production International

9 963

3 126

5 472

Energy

1 280

(104)

Base Chemicals

1 723

1 765

Performance Chemicals

(1 804)

254

Group Functions

(147)

(535)

Remeasurement items

12 905

806

7 642

Headline earnings per share

Rand

41,40

49,76

60,16

Diluted headline earnings per share

Rand

41,40

49,75

59,64

The reader is referred to the definitions contained in the 2016 Sasol Limited financial statements.

Basis of preparation

The summarised consolidated financial statements are prepared in accordance with the JSE Limited's
(JSE) Listing Requirements for summary financial statements, and the requirements of the Companies
Act applicable to summary financial statements. The JSE requires summary financial statements to be
prepared in accordance with the framework concepts and the measurement and recognition requirements
of International Financial Reporting Standards as issued by the International Accounting Standards Board
(IFRS), the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and Financial
Pronouncements as issued by the Financial Reporting Standards Council and to also, as a minimum, contain
the information required by IAS 34, Interim Financial Reporting.

The summarised consolidated financial statements do not include all the disclosure required for complete
annual financial statements prepared in accordance with IFRS as issued by the International Accounting
Standards Board. These summarised consolidated financial statements have been prepared in accordance
with the historic cost convention except that certain items, including derivative instruments, liabilities
for cash-settled share-based payment schemes, financial assets at fair value through profit or loss and
available-for-sale financial assets, are stated at fair value. The summarised consolidated financial
statements are presented in South African rand, which is Sasol Limited's functional and presentation currency. The
accounting policies applied in the preparation of these summarised consolidated financial statements are in
terms of IFRS and are consistent with those applied in the consolidated annual financial statements for the
year ended 30 June 2016. The summarised consolidated financial statements appearing in this announcement
are the responsibility of the directors. The directors take full responsibility for the preparation of the
summarised consolidated financial statements. Paul Victor CA(SA), Chief Financial Officer, is responsible for
this set of summarised consolidated financial statements and has supervised the preparation thereof in
conjunction with the Senior Vice President: Financial Control Services, Brenda Baijnath CA(SA).

Related party transactions

The group, in the ordinary course of business, entered into various sale and purchase transactions on an
arm's length basis at market rates with related parties.

Financial Instruments

Fair value

The group does not hold any financial instruments traded in an active market, except for the investment
in listed equity instruments. Fair value is determined using valuation techniques as outlined below. Where
possible, inputs are based on quoted prices and other market determined variables.

Fair value hierarchy

The following table is provided representing the assets and liabilities measured at fair value at reporting
date, or for which fair value is disclosed at 30 June 2016. The calculation of fair value requires various
inputs into the valuation methodologies used. The source of the inputs used affects the reliability and
accuracy of the valuations. Significant inputs have been classified into the hierarchical levels in line with
IFRS 13, Fair Value Measurement, as shown below:

Level 1 Quoted prices in active markets for identical assets or liabilities.
Level 2 Inputs other than quoted prices that are observable for the asset or liability (directly or
indirectly).
Level 3 Inputs for the asset or liability that are unobservable.

IFRS 13 fair

Carrying value

Fair value

Valuation

Significant

Instrument value

hierarchy

method

inputs

Financial
liabilities

Listed long-term
debt

Level 1

14 638

14 760

Fair value

Quoted market price

for the same or

similar instruments

Derivative
liabilities;

Level 2

3 699

Net

present

Market interest rate

including
interest rate

value

swap

Independent audit by the auditors

These summarised consolidated financial statements, including the segment report for the year ended 30 June
2016, have been audited by PricewaterhouseCoopers Inc., who expressed an unmodified opinion thereon. The
individual auditor assigned to perform the audit is Mr PC Hough. The auditor also expressed an unmodified
opinion on the annual financial statements from which these summarised consolidated financial statements were
derived. A copy of the auditor's report on the summarised consolidated financial statements and of the

auditor's report on the annual consolidated financial statements are available for inspection at the
company's registered office, together with the financial statements identified in the respective auditor's
reports. The auditor's report does not necessarily report on all of the information contained in this
announcement of financial results. Shareholders are therefore advised that in order to obtain a full
understanding of the nature of the auditor's engagement they should obtain a copy of the auditor's report
together with the accompanying summarised consolidated financial statements from the company's registered
office.

Registered office: Sasol Limited, 1 Sturdee Avenue, Rosebank, Johannesburg 2196
PO Box 5486, Johannesburg 2000, South Africa

Share registrars: Computershare Investor Services (Pty) Ltd, 70 Marshall Street, Johannesburg 2001
PO Box 61051, Marshalltown 2107, South Africa, Tel: +27 11 370-7700 Fax: +27 11 370-5271/2

JSE Sponsor: Deutsche Securities (SA) Proprietary Limited

Directors (Non-Executive): Dr MSV Gantsho* (Chairman), Mr C Beggs*, Mr MJ Cuambe (Mozambican)*,
Mr HG Dijkgraaf (Dutch)^, Ms NNA Matyumza*, Ms IN Mkhize*, Mr ZM Mkhize*, Mr MJN Njeke*, Mr PJ Robertson
(British and American)*, Mr S Westwell (British)*

Directors (Executive): Mr SR Cornell (Joint President and Chief Executive Officer) (American), Mr B Nqwababa
(Joint President and Chief Executive Officer),Ms VN Fakude, Mr P Victor (Chief Financial Officer)

* Independent ^ Lead independent director

Company Secretary: Mr VD Kahla

Company registration number: 1979/003231/06, incorporated in the Republic of South Africa

Income tax reference number: 9520/018/60/8

JSE

NYSE

Ordinary shares

Share code:

SOL

SSL

ISIN:

ZAE000006896

US8038663006

Sasol BEE Ordinary
shares
Share code:

SOLBE1

ISIN:

ZAE000151817

American depository
receipts (ADR)

program:

Cusip number 803866300

ADR to ordinary
share 1:1

Depositary: The Bank of New York Mellon, 22nd floor, 101 Barclay Street, New York, NY 10286, United States of
America

Disclaimer – Forward-looking statements: Sasol may, in this document, make certain statements that are not
historical facts and relate to analyses and other information which are based on forecasts of future results
and estimates of amounts not yet determinable. These statements may also relate to our future prospects,
developments and business strategies. Examples of such forward-looking statements include, but are not
limited to, statements regarding exchange rate fluctuations, volume growth, increases in market share, total
shareholder return, executing our growth projects and cost reductions, including in connection with our BPEP
and RP. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may",
"endeavour", "target", "forecast" and "project" and similar expressions are intended to identify
such forward-looking statements, but are not the exclusive means of identifying such statements. By their
very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific,
and there are risks that the predictions, forecasts, projections and other forward-looking statements will
not be achieved. If one or more of these risks materialise, or should underlying assumptions prove incorrect,
our actual results may differ materially from those anticipated. You should understand that a number of
important factors could cause actual results to differ materially from the plans, objectives, expectations,
estimates and intentions expressed in such forward-looking statements. These factors are discussed more fully
in our most recent annual report on Form 20-F filed on 9 October 2015 and in other filings with the
United States Securities and Exchange Commission. The list of factors discussed therein is not exhaustive;
when relying on forward-looking statements to make investment decisions, you should carefully consider both
these factors and other uncertainties and events. Forward-looking statements apply only as of the date on
which they are made, and we do not undertake any obligation to update or revise any of them, whether as a
result of new information, future events or otherwise.

Please note: A billion is defined as one thousand million. All references to years refer to the financial
year ended 30 June. Any reference to a calendar year is prefaced by the word "calendar".

Comprehensive additional information is available on our website: www.sasol.com

www.sasol.com

09 September 2016
Johannesburg

Sponsor: Deutsche Securities (SA) Proprietary Limited

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant, Sasol Limited, has
duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date September 12, 2016

By:

/s/ V D Kahla

Name:

Vuyo Dominic Kahla

Title:

Company Secretary