Investor Presentaiton

• 2023 Alaska Investor Trip Santos Significant, Long-Term Development Potential Flexible and self-funding development pipeline to develop three Pikka-scale units • Material resource in stable regulatory environment, with strong stakeholder support STO Units Gross Resource by Unit Pikka Phase 1 first oil planned for 2026, 397 MMbbl gross 2P reserves (165 MMbbl net) • . - 519 MMbbl gross (215 MMbbl net) remaining 2C in the Pikka Unit Future phases leverage Phase 1 infrastructure to deliver compelling economic returns allowing for self-funding growth while returning cash to corporation Ongoing appraisal and permitting activities will feed development pipeline Alaska Supply Portfolio Production Nanushuk Fairways STO Discovery 2P: 397 MMbbl¹ 2C: 519 MMbbl1 Horseshoe Fairway Pikka Terminal Nanushuk Unit irwa Y Quokka Unit Quokka Fairway Pikka Phase 2 (2C volumes) Further upside in additional phases Horseshoe Unit 2C: 112 MMbbl¹ Pikka Phase 1 1. Gross resource and reserves, as at 31 December 2022. 2C: 450 MMbbl¹ 0 5 10 Miles NPRA State Lands

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