SASOL LIMITED - High Court Awards Damages to Sasol Against Transnet

High Court Awards Damages to Sasol Against Transnet

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, the Company, Equity issuer)

Sasol Financing Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1998/019838/06)
Company code: SFIE
LEI: 378900A5BC68CC18C276
(Sasol Financing, Debt issuer)

HIGH COURT AWARDS DAMAGES TO SASOL AGAINST TRANSNET

Transnet SOC Limited (Transnet), through its business unit Transnet Pipelines, transports
crude oil for both Sasol Oil (Pty) Ltd (Sasol Oil) and TotalEnergies Marketing (Pty) Ltd
(TotalEnergies) from Durban to the Natref crude oil refinery located in Sasolburg. Sasol Oil
and TotalEnergies hold 63,64% and 36,36% respectively of the shares in Natref.

In 2017, Sasol Oil followed TotalEnergies in instituting legal action against Transnet for
damages arising from Transnet's breach of its obligation to set pipeline tariffs for
conveyance of crude oil in terms of an agreement that had been entered into between the
parties in 1991. The result of the breach was that Transnet overcharged Sasol Oil for the
conveyance of crude oil over a number of years.

The litigation between the parties has been ongoing for years and a number of issues in the
matter have been determined by the High Court, Supreme Court of Appeal and
Constitutional Court respectively.

The remaining issues in the litigation proceeded to trial in the High Court of South Africa
from 15 April to 3 May 2024. On 18 June 2024, judgement was handed down by the High
Court in Sasol Oil and TotalEnergies' favour. Damages in the amount of R3 889 475 802
plus interest amounting to approximately R2,3 billion were awarded to Sasol Oil.

20 June 2024
Sandton

Equity Sponsor
Merrill Lynch South Africa Proprietary Limited t/a BofA Securities

Debt Sponsor
Rand Merchant Bank (a division of FirstRand Bank Limited)

Date: 20-06-2024 08:10:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.