Integrated_Annual_Report_2026 - Flipbook - Page 160
INTRODUCTION
SASOL AT A
GLANCE
DRIVING SUSTAINABLE
VALUE CREATION
EXECUTING
STRATEGY
DELIVERING
BUSINESS VALUE
SUMMARISED FINANCIAL
PERFORMANCE
CORPORATE
GOVERNANCE
SUSTAINABILITY
REPORT
REMUNERATION
REPORT
ASSURANCE /
ADMINISTRATION
PART II: SECTION A – REMUNERATION POLICY CONTINUED
The use and application of remuneration benchmarks
The Remuneration Committee is responsible for approving the comparator group used for remuneration benchmarking. The comparator group is designed to reflect the market within which the Company
competes for executive talent and typically includes organisations of comparable scale, complexity, geographic reach and industry profile. In assessing comparability, the Committee considers factors such as
enterprise value, revenue, market capitalisation, business model and operational complexity. The peer group is reviewed periodically to ensure its continued relevance and to reflect changes in the Company’s
strategic positioning and the external market environment.
The peer group includes a balanced combination of companies that have a primary listing on the JSE Ltd and international chemicals and energy companies, and includes those with a broadly similar
geographic footprint and/or product suite and enterprise value. For the calculation of the executive paylines in South Africa, Germany and the US, a cost-of-living factor between these countries and the
countries where the data originates is applied. International data is converted by using a historical 18 month average exchange rate to moderate foreign exchange rate volatility.
The Committee will review the composition of the peer group annually to ensure its continued relevance and appropriateness. Changes to the individual companies included in the peer group will not
constitute a material amendment to this Policy. Any changes to the peer group, from time to time, will be disclosed accordingly.
Peer group used for Executive remuneration benchmarking purposes
Peer group used for relative Total Shareholder Return (rTSR) purposes in the LTI plan
For FY27, the following table sets out the approved comparator group applicable for executive
remuneration benchmarks.
The table below outlines the companies in the peer group, equally weighted, and used in respect of the
rTSR target for the FY27 LTI award.
JSE listed sub-group (~47%)1
JSE listed sub-group
Chemicals sub-group (~27%)
Energy sub-group (~27%)
Chemicals sub-group
Energy sub-group
AngloGold Ashanti plc
Clariant AG
CVR Energy Inc
AECI Ltd
Arkema S.A.
Aker BP ASA
Bidvest Group Ltd
Evonik Industries AG
HF Sinclair Corp
African Rainbow Minerals Ltd
Dow Inc
Devon Energy Corp
Gold Fields Ltd
Huntsman Corp
Origin Energy Ltd
Exxaro Resources Ltd
Eastman Chemicals
APA Corp
Harmony Gold Mining Ltd
Lanxess AG
Repsol S.A.
Glencore plc
Lanxess AG
Imperial Oil Ltd
Impala Platinum Holdings Ltd
Impala Platinum Holdings Ltd
LyondellBasell Industries N.V.
Ovintiv Inc
Kumba Iron Ore Ltd
Valterra Platinum Ltd2
Evonik Industries AG
Repsol S.A.
Valterra Platinum Ltd2
Executive service contracts
• Members of the GEC have permanent employment contracts with notice periods ranging from three to
Retention awards and Buy-out awards
six months.
The Buy-Out and Retention Award Policies may be used in the recruitment and retention of
current or prospective employees either as part of compensation for variable pay awards
forfeited with the previous employer due to the resignation, or for retention purposes.
The Committee or the Board, as appropriate, may approve retention awards in cash and/or
LTIs where there is a demonstrable retention risk relating to individuals occupying critical roles
or possessing scarce skills. Retention awards will be used selectively and only where other
remuneration mechanisms are considered insufficient to mitigate the identified retention risk.
Such awards will be subject to specified vesting, forfeiture, malus and clawback provisions.
• The contracts provide for salary and benefits as well as participation in incentive plans based on Group,
Business and individual performance as approved by the Board.
• GEC participants who are members of a South African Retirement Fund are required to retire from the
Group and as Directors from the Board at the age of 60, unless they are requested by the Board to
extend their term.
• Perquisites offered to the members of the GEC are disclosed in the Implementation Report.
• Executive employment contracts currently exclude restraint-of-trade provisions but do contain confidentiality
obligations. No additional payments are made for loss of office or change of control of the Company.
In all cases, retention, buy-out or sign-on awards are subject to work-back periods. In cases where
the work-back period is not completed, LTIs are forfeited, and cash awards must be repaid.
1
Weighting in the total peer group
2 Anglo American Platinum Ltd (Amplats) post name change
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