Sasol Integrated Report 2024 - Book - Page 149
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
DATA AND ASSURANCE / ADMINISTRATION
REMUNERATION REPORT
PART IV: REMUNERATION IMPLEMENTATION REPORT
This section provides the Implementation Report which results from the decision taken by the
Committee in terms of the policy. It sets out the relationship between Company performance
and Executive Directors’ and Prescribed Officers’ remuneration outcomes as well as progress against
the MSR.
The tables in this section provide information on all amounts received or receivable for the
GEC for FY24 (including the President and CEO, Executive Directors and Prescribed Officers).
Pay gap disclosures are also provided.
Remuneration Implementation Report Structure
Incentive Plan outcomes
• Group performance targets for STI awards and performance results.
• Performance vs. Corporate performance targets in respect of LTIs
that are due to vest in FY25, as at the end of the performance period
30 June 2024.
Executive Directors and
Prescribed Officers
(tabulated separately)
• Disclosure of remuneration and benefits paid or payable in terms of
the Total Single Figure methodology. Included is an estimated value
relating to the vesting of LTIs in FY25, in respect of the performance
period ended 30 June 2024.
• Outstanding LTI holdings.
• Progress against MSR.
Over the past three years, the Committee has annually reviewed the internal pay gaps using the
Group’s adopted pay gap methodology which compares the median total target remuneration
(TTR) of 10% of the highest Sasol earners per country with the median TTR of the lowest 10%
Sasol earners per country. More recently, the methodology has compared the TTR of 5% of the
highest Sasol earners per country with the median TTR of the lowest 5% Sasol earners per
country. In addition, horizontal pay gaps by role category as defined by our organisational job
architecture principles, by race and gender, have been analysed for all countries where we
permanently employ more than 250 employees.
Target remuneration, in addition to actual remuneration, is used for year-on-year comparisons to
also consider the influence of macroeconomic factors that impact on the STI and LTI outcomes.
The Committee plays a pivotal role in driving efforts to disclose and address pay gaps within
the Group. By monitoring, analysing, and recommending actions to promote pay equity,
the Committee contributes to fostering a fair and inclusive workplace culture.
The pay gap disclosures that follow provide two sets of data, namely:
A. Actual earnings in compliance with the Section 30B of the Companies Amendment Act, 2024;
and
B. Total target remuneration, in line with our policy, which we believe provides useful information
to mitigate the fluctuations in business and market performance that impact the variable pay
outcomes and provide a more stable analysis of year-on-year movements.
Additionally, the following data is included:
Pay gap disclosure
• Disclosure of pay gaps for South Africa aligned with the requirements
of section 30A of the Companies Amendment Act, 2024.
• Total remuneration of the lowest and highest paid employees;
NEDs
• Fees approved for and paid in FY24.
• Median total remuneration of all employees; and
• Average total remuneration of all employees;
• The ratio between the total remuneration of the top 5% highest paid employees and the total
remuneration of the bottom 5% lowest paid employees.
Key Remuneration Outcomes
Salary/TGP adjustments
Annual inflation aligned increases were approved for 1 October 2023,
and in some cases, market or promotional adjustments were approved.
STI
Outcomes in respect of the Group scorecard as approved by the
Committee for the GEC:
We are providing the pay disclosure data in terms of our interpretation of the requirements under
the Companies Amendment Act, 2024. Additional data which we believe provides an improved
perspective on the actual pay gaps, is indicated on page 159.
38,81% out of a target of 100% and a maximum opportunity of 150%
LTI: for the performance
period ending 30/6/2024
83,64% out of a target of 100% and a maximum opportunity of 200%
Pay gap disclosures
Globally, there is an increased focus on pay gap reporting as many believe, as we do, that this will
promote a fairer and more equal society.
In South Africa, historical inequalities have left a legacy of economic disparities based on factors such
as race and gender. Pay gap disclosure is seen as a mechanism to ensure a dedicated focus on pay
inequities within an organisation.
SASOL INTEGRATED REPORT 2024
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