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SASOL FINANCING USA LLC – USU8035UAC63

April 28, 2023

These unsecured notes are treated as ‘securities’ for ISA qualification purposes. To qualify for ISA inclusion, either the security or the shares in the issuing company need to be listed on a recognised stock exchange or admitted to trading on a recognised stock exchange in the European Economic Area (EEA) or the UK (see ISA Guidance https://www.gov.uk/guidance/stocks-and-shares-investments-for-isa-managers#compsecur ). A third possibility is that if the security itself or the shares in the issuing company do not meet the listing requirements, if the issuing company is at least a 75% subsidiary of a parent company whose shares do meet the listing requirements then the security will also qualify.

In this case, neither the security (I can’t find any trace of this ISIN) or the shares in the issuing company (SASOL Financing USA LLC)) are listed/traded on a recognised stock exchange but my research suggests (first link below) that SASOL Financing USA LLC is a 100% owned subsidiary of SADOL Limited and the shares of SADOL Limited are listed on the Johannesburg Stock Exchange (which is a recognised stock exchange) (second link below) so on that basis, the security should qualify for stocks & shares ISA inclusion.

https://www.sec.gov/Archives/edgar/data/314590/000104746918006089/a2236633zf-3asr.htm

JSE – Johannesburg Stock Exchange