SASOL Integrated Report 2025_Final_28 August 2025 - Flipbook - Page 147
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
PORTFOLIOS
ESG
REMUNERATION REPORT
DATA AND ASSURANCE / ADMINISTRATION
PART III: SECTION A – EXECUTIVE REMUNERATION POLICY (INCLUDING NEDs) continued
The use and application of remuneration benchmarks
One of the Committee’s key tasks is to preserve the relevance, integrity, and consistency of benchmarking. Management also consults survey reports from various large remuneration firms.
In addition to survey data, we use benchmark data from the approved peer group to develop pay bands for group executive positions and to inform incentive target percentages of our
variable pay plans.
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/or size. 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
from, is applied.
Executive pay
Total shareholder return (TSR)
The peer group used to inform executive pay bands and NED fees, was reviewed during FY25.
More JSE companies were included and the outliers in respect of the share price correlation over
the past 5 years, have been removed and replaced with more suitable comparator companies.
The following table sets out approved comparator group used in the benchmarks applicable
for FY25 and the changes to the peer group in the section below.
The Committee reviewed the separate peer group to be used for the relative total shareholder
return (rTSR) measurement in our LTI awards. The table below outlines the companies in the
peer group for the LTI award vesting in respect of the performance period ending 30 June 2025.
The changes in the peer group companies is outlined in the section below.
JSE listed sub-group
Chemicals sub-group
Energy sub-group
JSE listed sub-group
Chemicals sub-group
Energy sub-group
Anglo American Platinum Ltd
Albemarle Corporation
Continental Resources
AECI Ltd
BASF SE
Continental Resources
AngloGold Ashanti PLC
Covestro AG
Devon Energy Co
Anglo American Platinum Ltd
Dow Incorporated
Devon Energy Corporation
Gold Fields Ltd
Eastman Chemicals Co
Hess Corporation
AngloGold Ashanti PLC
Eastman Chemicals Co
Hess Corporation
Impala Platinum Holdings Ltd
Evonik Industries AG
Imperial Oil
Glencore PLC
Evonik Industries AG
Imperial Oil Ltd
MTN Group
Lanxess AG
Origin Energy Ltd
MTN Group
Lanxess AG
Origin Energy
Sibanye Stillwater Ltd
Solvay SA
Repsol SA
Sibanye Stillwater Ltd
Lyondell Basel Industries NV
Repsol SA
The changes had a minimal effect on the executive pay bands, and we continued to have a positive
correlation with the NED fees.
The following companies were removed from
the peer group for FY26: Sibanye Stillwater,
Albemarle Corporation, Covestro AG, Eastman
Chemicals Corporation, Solvay SA, Continental
Resources, Devon Energy Corporation,
Imperial Oil, Hess Corporation, MTN.
The following companies were added for FY26:
Bidvest Group, Harmony Gold Mining Company
Ltd, Kumba Iron Ore, Clariant AG, Huntsman
Corporation, CVR Energy Inc, HF Sinclair
Corporation.
The following companies were removed from
the peer group for FY26: AngloGold Ashanti,
Sibanye Stillwater, BASF, Solvay SA,
Continental Resources, Hess Corporation,
Origin Energy, MTN.
The following companies were added for FY26:
African Rainbow Minerals Ltd, Exxaro
Resources Ltd, Arkema SA, Evonik Industries
AG, Aker BP ASA, APA Corporation, Ovintiv
Incorporated, Impala Platimum Holdings Ltd.
Special retention awards and Buy-out awards
Executive service contracts
The Buy-Out and Retention Policy may be used in the recruitment and retention of candidates as part
compensation for variable pay awards forfeited with the previous employer due to the resignation, or for
retention purposes.
• Members of the GEC have permanent employment contracts with notice periods of three to six months.
Retention shares may be granted under the LTI plan, as approved by the Committee or the Board.
• EVPs who are members of a South African Sasol 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.
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.
• 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.
• Perquisites offered to the members of the GEC are disclosed in the Implementation Report.
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