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Investor Presentaiton

KEY TAKEAWAYS (1/2) • . The Paris Agreement was set up using a bottom-up approach i.e., nationally determined, but still with the aim of achieving global objectives of climate action, reduction in poverty, economic development and ensuring equality. But by implication, the 'nationally determined' methodology puts national interest first and foremost. As illustrated, following this approach the EU regulations are unintentionally impeding South Africa's ability to access the EU green hydrogen and derivatives market and could inadvertently contribute to impeding our ability to meet national and global targets. Securing a new export market has never been more pressing for South Africa, given the implications of impending carbon border taxes (e.g. CBAM) on competitiveness and potential loss of key markets for many sectors The steps required to start transitioning existing FT facilities to producing green products are known and technically feasible, but hinge on: . • • Allocation of the first green molecules replacing coal in the process to a single product for which a premium can be obtained, specifically SAF The ability to demonstrate compliance with the EU rules for accounting and paying a carbon price on feedstock CO2 without impacting national targets; and Recognition of recycled CO2 from the FT process as an eligible feedstock for producing sustainable products in a timeframe that facilitates project economics. BUSA
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