Share-based payment reserve (Tables)

12 Months Ended

Jun. 30, 2026


			2026			2025	2024
for the year ended 30 June		Note	Rm			Rm	Rm

During the year, the following share-based payment expense was recognised in the income statement relating to the equity-settled share-based payment schemes:
Long-term incentives		32.1		869		844	891
Sasol Khanyisa Employee Share Ownership Plan (ESOP): Tier 2 – Qualifying employees		32.2		49		70	95
Equity-settled – recognised directly in equity				918		914	986

Long-term Incentive plan

Share-based payment transaction

Schedule of cash settled share-based payment liability


	2026	2025	2024
for the year ended 30 June	Rm	Rm	Rm
Cash settled share-based payment liability
During the year, the following share-based payment expense was reclassified from an equity-settled to a cash-settled share-based payment scheme:
Liability raised¹	275	—	—
Liability paid	(275)	—	—
Closing Balance of cash-settled share-based payment liability	—	—	—

The final number of shares to be settled in cash could only be determined once employees had elected whether to sell their shares upon vesting. Accordingly, at the modification date of 20 August 2025, the cash-settled portion was estimated based on the expected elections, subject to the R350 million cap approved by the Remuneration Committee. The movement in the estimated cash-settled liability between 20 August 2025 and the vesting date of 6 September 2025, when the actual employee elections became available, was not material. The liability was ultimately recognised and settled based on the actual amount paid.

Schedule of movements in the number of incentives outstanding


				Weighted average
		Number of		fair value
Movements in the number of cash settled incentives		incentives		Rand
Balance at 30 June 2025		—		—
LTIs reclassified to a cash-settled share-based payment**		2 262 893		124,75
LTIs exercised		(2 199 029)		124,75
Effect of CPTs and LTIs forfeited		(63 864)		125,12
Balance at 30 June 2026*		—		—

No incentives outstanding as at 30 June 2026. The exercise price of the once-off cash settled options is R124,75.

**Weighted average fair value at modification date on 20 August 2025.


			Weighted average
	Number of		fair value
Movements in the number of equity incentives outstanding	incentives		Rand
Balance at 30 June 2024*	10 993 197		258,52
LTIs granted	8 423 943		152,52
LTIs exercised	(3 674 018)		240,57
Effect of CPTs and LTIs forfeited	(1 116 914)		211,42
Balance at 30 June 2025*	14 626 208		205,57
LTIs granted	8 020 861		141,50
LTIs exercised	(1 059 766)		231,39
LTIs reclassified to a cash-settled share-based payment**	(2 262 893)		336,83
Effect of CPTs and LTIs forfeited	(577 545)		277,30
Balance at 30 June 2026*	18 746 865		165,83

The incentives outstanding as at 30 June 2026 have a weighted average remaining vesting period of 1,5 years (30 June 2025: 1,7 years). The exercise price of these options is Rnil.

Weighted average fair value at grant date on 6 September 2022.

Schedule of weighted average market price


		2026		2025
for year ended 30 June		Rand		Rand
Average weighted market price of Equity Settled LTIs vested		125,03		126,36

Schedule of the assumptions used to calculate the average fair value of options granted


Average fair value of incentives granted				2026		2025
Model				Monte-Carlo		Monte-Carlo
Risk-free interest rate – Rand		(%)		6,39 - 6,67		7,04 - 7,76
Risk-free interest rate – US$		(%)		3,43 - 3,64		3,6 - 4,25
Expected volatility		(%)		58,92		45,55
Expected dividend yield		(%)		1,15		4,88
Expected forfeiture rate		(%)		5		5
Expected vesting percentage		(%)		84,12		90,32
Vesting period – top management				3/5 years		3/5 years
Vesting period – all other participants				3 years		3 years