1

changing gear

22

forward-looking statements

Contingent resources are defined as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from a known accumulation by application of development projects, but which are not currently considered to be commercially recoverable due to one or more contingencies. There is therefore uncertainty as to the portion of the volumes identified as contingent resources that will be commercially producible. 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 ofamounts 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 and cost reductions. Words such as “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “endeavour” 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 risksthat 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 under the Securities Exchange Act of 1934 on Form 20-F filed on 7 October 2011 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.

33

contents

Sasol – an integrated energy company

Pertinent global market trends

Sasol’s response to global market trends

SPI’s contribution to Sasol’s gas needs

Major acquisitions

Outlook on growth

44

sasol at a glance

● Sasol is an integrated energy and chemicals company

● The world’s largest producer of synthetic fuels

● World leader in gas-to-liquids (GTL) and coal-to-liquids (CTL) technology

● >60 years’ experience in CTL, GTL and related technology

● Operating and technical expertise

● Strong intellectual property portfolio(372 registered patent families)

55

Operations excellence

Functional excellence

Planning & optimisation

Sales & marketing excellence

sasol group strategyAccelerate GTL and grow related upstream business

Capital excellence

Values-driven leadership*

Gro

up

impe

rativ

es

Foundation

Develop and empower our people

Continuously improve and grow our existing

asset base

Deliver on the RSA transformation

agenda

Sustainable growth

Accelerate GTL, focused CTL growth

Grow related upstream business

Grow technological lead

Grow chemicals based on feedstock and/or

technology advantage

Develop and grow new energy

Definition of victory

Grow stakeholder value sustainably

66

contents

Sasol – an integrated energy company

Pertinent global market trends

Sasol’s response to global market trends

SPI’s contribution to Sasol’s gas needs

Major acquisitions

Outlook on growth

77

Oil/gas price differential maintained

• de-link of oil /gas price ratio creates a window for GTL and other gas based projects

• opportunity to acquire further shale gas

Some pertinent global trends

Pressure on carbon intensity

Sasol recently acquired 50% of Farrell Creek and Cypress A

• focus is on low- or no-carbon electricity• accelerated exploration in Southern Cone of Africa – Mozambique, Botswana

Sasol New Energy will be developing options and new technologies for Sasol in

a carbon and water constrained world

88

contents

Sasol – an integrated company

Pertinent global market rends

Sasol’s response to global market trends

SPI’s contribution to Sasol’s gas needs

Major acquisitions

Outlook on growth

99

sasol’s response to global market trendsORYX GTL, Sasol’s GTL flagship

In operation and highly successful

● Joint venture between Qatar Petroleum (51%) and Sasol (49%)

● 32 400 bbl/d design capacity, producing ultra-low sulphur diesel, naphtha and LPG

● Stable operation (80-90% capacity utilisation)

● Instantaneous production record of 36 860 bbl/d achieved

● Production to be increased by 10% through de-bottlenecking

● Investigating the possibility of an expansion

9Highly profitable venture with handsome returns to shareholders

1010

● Uzbekneftegaz, Sasol and PETRONAS established a joint venture – December 2009

● Project has moved into FEED stage

● Targeting nominal plant capacity of

1.4 million tons per annum

● Product slate target – GTL diesel,

GTL kerosene and GTL naphtha

● The plant will be located near the town of Karshi in the southern part of Uzbekistan

● Gas feedstock from adjacent ShurtanGas Chemical Complex

sasol’s response to global market trendsUzbekistan GTL, Karshi, Uzbekistan

1111

sasol’s response to global market trendsSasol New Energy: exploring new energy options and technologies

● Electricity generated from two100 MW open-cycle gas turbines at Sasol Synfuels, Secunda , being sold to Eskom (commissioned 2010)

● New R1,8bn Sasolburg power project (140MW) in execution – operational in 2013

● Increases self generated power capacity to 60% by 2013

● Reduces CO₂ emissions by ~1Mt/a● Progressing on a gas-to-power

opportunity in Mozambique● Other renewable energy and low-

carbon electricity initiatives, including concentrated solar power and biofuelsunder investigation

Implement and drive a group-wide CO₂ mitigation programme

1212

contents

Sasol – an integrated energy company

Pertinent global market trends

Sasol’s response to global market trends

SPI’s contribution to Sasol’s gas needs

Major acquisitions

Outlook on growth

1313

SPI’s contribution to sasol’s gas needsUpstream asset portfolio

Gas licences

Nigeria

Oil licences

Australia

Canada

South Africa

Papua New Guinea

Current SPI position

GabonMozambique

Botswana

Shale gas/coal bed methane licencesTechnical Cooperation (study) Permit (TCPs)

• 8 countries: 3 operated (Botswana, Mozambique and PNG) and 5 non-operated• Acreage Net Area (excl TCPs): 54 407km² (onshore, offshore, shale gas and CBM)• 3 producing: gas (Canada and Mozambique) and oil (Gabon)

1414

SPI’s contribution to sasol’s gas needsChanging gear

1995 – 2004• First engagement

with Mozambique• Gabon production

2007 – 2011• Growth beyond Africa• Gas centric upstream

strategy• Unconventional

exploration venture• Canada Acquisition

Beyond 2011• Massive production

growth (45 kboe/d to 270 kboe/d)

• Significant organisational growth

• Acceleration of global exploration

• More acquisitions

2004 – 2007• Mozambique

production• Growth into Nigeria

1515

SPI – producing assetsPande, Temane and Inhassoro Complex

● Equity Sasol 70% (Operator), CMH 25%, IFC 5%

● Temane on stream 2004

● Pande on stream July 2009 producing 230 MMscf/d, with Temane providing swing

● Currently produces ~300 MMscf/d

● US$300 million expansion 98% complete for 50% increase to 450 MMscf/d

● Inhassoro oil appraisal ongoing with option for LPG project development in the success case

1616

● Over two-million man hours worked on this project. RCR of 0.46 was achieved

● The project employed over 600 Mozambicans – significant job creation for the area

● Substantial amounts of money spent with Mozambican suppliers - good economic impact for the region and country as a whole

● Keep close dialogue alive with local community and carry out discrete and needs-driven social and medical projects

● To top it all, a saving of 30% on approved project capital was achieved

SPI – producing assetsFast facts on the central processing facility expansion project

1717

SPI – appraisal activitiesInhassoro-9z drilling and testing

● 500m horizontal section drilled successfully (first in Mozambique)

● Well drilled within a vertical window of 80cm in the horizontal section

● Well test produced rates of up to 2500stb/d

● Light oil produced (58 API, 500 – 700 scf/stb)

● Entire length of horizontal well contributed to flow proving that an excellent drilling and completion methodology was used

● EWT planned to determine sustainability of oil flow and optimum development plan for field and also finalise design of LPG plant

Oil Flare During Test

Well lifted onto production with nitrogen

1818

SPI – exploration: conventionalMozambique offshore opportunities

● Evaluation efforts now looking beyond the proven Grudja Play (Njika, Pande etc)

● ‘Going Deep’ 3 new plays with significant upside in largely non-penetrated stratigraphy

› Aptian Syn/Post Rift structural plays

› Albian Carbonate platform play

› Karoo Pre/Syn Rift structural play

● 3D seismic planned for mid-2012 to mature Aptian Syn/Post Rift play in Sofala

● Exploration well to test Albian Carbonate play scheduled for Q3 2012 in M10

1919

SPI – exploration: conventionalMozambique – Offshore play diagram

2020

SPI – exploration: conventionalMozambique – Mupeji Aptian Platform carbonate prospect

2121

SPI – exploration: conventionalMozambique – Aptian Syn/Post Rift play in Sofala

2222

SPI – exploration: conventionalOffshore South Africa –TCP 032, Durban and Zululand Basins

● Technical cooperation permit (TCP032) granted in September 2011 for 12 months

● Area: 83 000 km²

● Initial study to evaluate whether area is suitable for exploration right permit applications

● Sasol (100% equity) has exclusive rights to apply for an Exploration Right permit within 12 months

● Sasol may consider partnering for next phase

Existing west – east seismic line in the Durban Basin

2323

SPI – exploration : non-conventionalCBM Botswana

● SPI recently announced its Joint Venture partnership with major Australian Coal Bed Methane player: Origin Energy

› Kubu Energy Resources (Pty) Ltd

● Acquisition of three CBM licenses in Botswana

› Covering approximately 3 000km²

› Located in the Central Province of Botswana

› Subject to final approval by the Botswana Government

● Exploration activities will include

› Core sampling from multiple boreholes

› Airborne magnetic survey

› 5-well (‘5-spot’) pilot

2424

contents

Sasol – an integrated energy company

Pertinent global market trends

Sasol’s response to global market trends

SPI’s contribution to Sasol’s gas needs

Major acquisitions

Outlook on growth

2525

SPI – major acquisitionsCanada – shale gas

● Sasol recently acquired 50% of Farrell Creek and Cypress A

● One of the most prolific shale plays in North America

● All year access and excellent infrastructure

● Sasol/Talisman partnership on 108 000 total net acres land – circa 20 tcf of contingent resource

● Sasol paid US$2bn for a 50% interest and will incur ~ US$14bn development cost over 10 years

● Emerging liquids window

Alberta

BritishColombia

TLM land

BasinMajor pipeline

Sasol/TLM land

The feasibility study of a 96 000 bbl/d facility in Canada has commenced

2626

contents

Sasol – an integrated energy company

Pertinent global market trends

Sasol’s response to global market trends

SPI’s contribution to Sasol’s gas needs

Major acquisitions

Outlook on growth

2727

SPI – outlook on growth…creating a geographically balanced growth portfolio will require us to focus on emerging markets and outside current countries of operation…

North America• Progressive optimisation• Sustainable operation• Significant cash

contribution for growth elsewhere

Australia• Deliver on Australia

strategy

GabonMaintain full asset production

Southern Africa•Botswana CBM•Moz expansion•TCP offshore Zululand Basin

2828

SPI – outlook on growthConsolidated production volumes (liquids and gas) equity share, risked

0

50

100

150

200

250

300

350

400

450

2001 2004 2007 2010 2013 2016 2019 2022 2025 2028 2031 2034 2037 2040

000

Boe

/d

Gabon oil production Total condensate productionMozambique gas production Farrell Creek gas productionCypress gas production Range of Exploration OutcomesUpper Range of Exploration Outcomes 2021 SPI target (270 000 Boe/d)

2021 SPI target (270 000 Boe/d)

Hard production

Canada projection(Farrell Creek + Cypress A)

Risked growth

Upside

2929

● Young, but well established upstream player

● Solid production growth track record

● Rapidly expanding global portfolio

● Access to proprietary GTL/CTL technologies and capabilities

● Unique and competitive value proposition with customised “product slates” for local markets

SPI – outlook on growth The licence and capability to grow

3030

SPI – outlook on growth Looking ahead…

● Continue to grow our heartland in Mozambique and our new position in North America

● Replicate our Mozambique success in other emerging heartlands

● Intensify exploration and new business development activities in both conventional and unconventional (continued globalisation of upstream portfolio)

● Strategic partnerships (both operated and non operated)

● With continuous focus on safety, health and environment,

● Create sustainable relations with community stakeholders

31

changing gear

Thank you