Investor Presentaiton

Disclaimer and important notice Santos This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets conditions in various countries, approvals and cost estimates. All references to dollars, cents or $ in this document are to United States currency, unless otherwise stated. This presentation refers to Santos' acquisition of ConocoPhillips' northern Australia interests announced on 14 October 2019. Completion of the acquisition is subject to third-party consents and regulatory approvals. The presentation also refers to estimates of petroleum reserves and contingent resources. Refer to the Appendix for cautionary statements regarding reserve and resource estimates. Western Australia & Northern Territory Site Visit 2019 Cover image: Darwin LNG, Point Wickham, Northern Territory 2

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