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Positive Actions in Turbulent Times positive actions in turbulent times Our strategy remains unchanged and our value proposition intact. Balancing short-term needs and long-term sustainability, we have continued to renew our business basics, preserving Sasol’s robust fundamentals and delivering a solid performance in deteriorating markets. Our pipeline of growth projects remains strong, even though we have reprioritised capital spending. With our shared values as our guide, we have dealt decisively with disappointments and unprecedented challenges. We are confident that our positive actions will help us navigate the storm and emerge stronger than before. About Sasol sasol annual review and summarised financial information 2009 financial information and summarised review sasol annual Sasol is an energy and chemicals company. We convert coal and gas into liquid fuels, fuel components and chemicals through our proprietary Fischer-Tropsch (FT) processes. We mine coal in South Africa, and produce gas and condensate in Mozambique and oil in Gabon. We have chemical manufacturing and marketing operations in South Africa, Europe, the Middle East, Asia and the Americas. In South Africa, we refine imported crude oil and retail liquid fuels through our network of Sasol convenience centres. We also supply fuels to other distributors in the region and gas to industrial customers in South Africa. Based in South Africa, Sasol has operations in 38 countries and employs some 34 000 people. We continue to pursue international opportunities to commercialise our gas-to-liquids (GTL) and coal-to-liquids (CTL) technology. In partnership with Qatar Petroleum we started up our first international GTL plant, Oryx GTL, in Qatar in 2007. In 2009, alongside our respective partners, we retained an economic interest in the Escravos GTL project in Nigeria and made progress investigating the feasibility of a CTL plant in China and a GTL plant in Uzbekistan. We also advanced our upstream oil and gas activities in Mozambique, Nigeria, Gabon, South Africa, Papua New Guinea and Australia. Formed in 1950, Sasol started producing synthetic fuels in 1955. Sasol is listed on the JSE Limited in South Africa and the positive actions New York Stock Exchange. annual review and summarised financial information 2009 Sasol’s flagship operations at Secunda, Mpumalanga Province. www.sasol.com AR Cover: Oryx GTL, Sasol’s flagship GTL facility in Qatar. contents about this report Group overview Operating reviews continued 01–13 64–68 Annual review and summarised financial information 2009 AR Salient features and financial review 1 Other businesses Financial and operating performance 2 4 Global activities Sasol Technology 65 Research and development, technology management and innovation, Sasol’s reporting aims to provide a balanced, understandable, complete and easily comparable view of our business. Integrated business model 6 engineering services and project management. Alongside the ongoing stakeholder interaction and communication expected of a responsible organisation committed to Consistent strategic direction 8 Sasol Financing 67 Group cash and liquidity, credit-rating processes, in-house banking, accountability, Sasol produces a suite of reporting publications. Investing in growth 10 financing, foreign exchange, interest rate and treasury risk management. This annual review includes summarised financial information for the year ended 30 June 2009. Stakeholders are advised to read Board of directors 12 this annual review in conjunction with: Sustainable development review Annual financial statements FIN 69 – 94 Including a full analysis of the groups’s results by the chief financial officer. Business reviews 14–27 Form 20-F 20F Chairman’s statement 14 Summarised financial information Our annual report under the Securities Exchange Act of 1934 on Form 20-F to be filed with the United States Securities 95 – 99 and Exchange Commission during October 2009. The Form 20-F is available on our website (www.sasol.com). Chief executive’s report 18 Cluster reviews 24 Salient features 96 Contact information 100 Sustainable development report SD Statement of financial position 98 Produced in accordance with Global Reporting Initiative (GRI) guidelines. Income statement 99 Operating reviews These reports provide a complete view of the group’s strategy, businesses, performance against objectives, and prospects. 28– 63 Stakeholders are advised to refer to the important information about the forward-looking statements used in this report, below. South African energy cluster Petrol Diesel Sasol Mining 30 Coal mining, gas marketing and distribution, synfuels and chemical Jet fuel Forward-looking statements Sasol Gas 33 feedstock production, liquid fuels production and marketing. End products Fuel oil Sasol Synfuels 36 Illuminating paraffin Liquefied petroleum gas Sasol Oil 39 In this document we make certain statements that are not historical facts and relate to analyses and other information which are based on Pipeline gas forecasts of future results and estimates of amounts not yet determinable. These statements may also relate to our future prospects, Lubricants and greases developments and business strategies. Examples of such forward-looking statements include, but are not limited to, statements regarding International energy cluster Bitumen exchange rate fluctuations, volume growth, increases in market share, total shareholder return and cost reductions. Words such as “believe”, Speciality carbon products “anticipate”, “expect”, “intend", “seek”, “will”, “plan”, “could”, “may”, “endeavour” and “project” and similar expressions are intended to Sasol Synfuels International (SSI) 44 Oil and gas exploration and production, and development Chemical feedstock identify such forward-looking statements, but are not the exclusive means of identifying such statements. By their very nature, forward- Sasol Petroleum International (SPI) 47 of international gas-to-liquids (GTL) and coal-to-liquids (CTL) ventures. GTL naphtha 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 Chemical cluster End products 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 Sasol Polymers 52 Production and marketing of a wide range of surfactants, surfactant Detergents and soaps Woven polypropylene carpets Candles Act of 1934 on Form 20-F filed on 7 October 2008 and in other filings with the United States Securities and Exchange Commission. The list Sasol Solvents 55 intermediates, specialty inorganic chemicals, alcohols, esters, acrylates, Catalysts Automotive components Crayons 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 Sasol Olefins & Surfactants (Sasol O&S) 58 ketones and other solvents, comonomers, monomers and polymers, Paints and coatings Plastic film and packaging Polishes and coatings 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 Sasol Nitro, Sasol Wax, including polyethylene, polypropylene and polyvinyl chloride. Perfumes and deodorants Household cleaning liquids Microchip coatings events or otherwise. Sasol Infrachem and Merisol 60 Production and marketing of ammonia and ammonia-based compounds, Pharmaceuticals Fertilisers Sun protection creams Compact and digital video discs Explosives for mining and quarrying Water-treatment chemicals fertilisers, commercial explosives, hydrogen and other specialty gases, Note on measurement: Besides applying barrels (b) and cubic metres (Mm3) for reporting on oil and gas reserves and production, Sasol applies Système International (SI) metric sulphur, waxes and waxy oils, and cresols and other cresylics, as well Pipe, conduit and electrical accessories Rubber-processing chemicals Inks measures for all global operations. A ton (also spelt as tonne) denotes one metric ton equivalent to 1 000 kilograms (kg) or about 2 200 imperial pounds. Sasol’s reference to a Cable Food coatings metric ton should not be confused with an imperial ton equivalent to 2 240 pounds (or about 1 016 kg). In addition, in line with a particular South African distinction under the as alkylamines and mining reagents. auspices of the South African Bureau of Standards (SABS), all Sasol global reporting emanating from South Africa uses the decimal comma (eg, 3,5) instead of the more familiar decimal point (eg, 3.5) used in the UK, USA and elsewhere. Similarly, a hard space is used to distinguish thousands in numeric figures (eg, 2 500) instead of a comma (eg, 2,500). A billion is defined as 1 000 million. contents about this report Group overview Operating reviews continued 01–13 64–68 Annual review and summarised financial information 2009 AR Salient features and financial review 1 Other businesses Financial and operating performance 2 4 Global activities
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