Investor Presentaiton

2023 Alaska Investor Trip Santos is a global energy company Market capitalisation¹ ~A$ 25.7billion Disciplined operating model Targeting 2023 free cash flow breakeven < $35/bbl² Capital management framework Targeting sustainable returns to shareholders and gearing between 15-25% Strategic competitive advantage enables low-cost CCS hubs Moomba CCS targeting first injection in 1H 2024 Major projects in execution Moomba CCS, Barossa and Pikka Phase 1 Production into the 2040s Targeting 100-140 mmboe NORTH AMERICA Pikka Canada Alaska 0 50 100 Km Bedout Bäsin 1 Dorado Dili S Bayu-Undan 2 Santos NORTHERN AUSTRALIA 5 PAPUA NEW GUINEA Papua LNG TIMOR-LESTE *Barossa Darwin S Darwin LNG plant McArthur/ Beetaloo Basin PNG LNG plant Northern Territory South Nicholson Basin WESTERN AUSTRALIA Western Australia Amadeus Basin Diversified portfolio of high-quality, long-life gas and liquids assets Western Australia, Northern Australia and Timor-Leste Eastern Australia and PNG Western Northern Hub Australia 1 Australia 2 Cooper Basin Queensland & 3 NSW Papua New 4 Guinea 5 Perth S Oil FPSOS and Asset type offshore gas to Offshore gas field to LNG Onshore fields to domestic gas, liquids and LNG Onshore field to LNG domestic supply 0 250 500 Km Reservoir Shallow water, Conventional Conventional Unconventional Conventional S Santos Office Santos Acreage Fixed-price LNG, liquids Product market domestic gas and Domestic gas, liquids LNG LNG, liquids Gas Pipeline Oil Pipeline liquids Port MoresbyS Queensland GLNG plant 4 3 RomaS BrisbaneS COOPER BASIN Moomba South Australia QUEENSLAND & NSW New South Wales (NSW) Narrabri S Port Bonython SydneyS AdelaideS Canberra Victoria Melbourne Tasmania Hobart Santos 1. As of 15 August 2023. 2. Free cash flow breakeven is the average annual oil price at which cash flows from operating activities (excluding hedging) equals cash flows from investing activities. Forecast methodology uses corporate assumptions. Excludes on-off restricting and redundancy costs, asset divestitures and acquisitions, major project capex and lease liability payments. 5

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