SANTOS LIMITED — Capital/Financing Update 2015

Dec 1, 2015

Santos Ltd ABN 80 007 550 923 Santos Centre 60 Flinders Street Adelaide South Australia 5000 GPO Box 2455 Adelaide South Australia 5001 Telephone: 61 8 8116 5000 Facsimile: 61 8 8116 5050 www.santos.com

2 December 2015

Adrian Smythe ASX Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Adrian

TRADING HALT REQUEST - ASX CODE: STO

Santos Limited (ABN 80 007 550 923) (Santos) requests under Listing Rule 17.1 a trading halt for its ordinary shares (ASX Code: STO) to start from the commencement of trading today.

Santos provides the following information for the purposes of Listing Rule 17.1:

• the trading halt is requested pending the conduct and completion of the retail shortfall bookbuild in $(a)$ connection with the retail component of Santos' fully underwritten 1 for 1.7 pro rata renounceable entitlement offer.
• $(b)$ Santos requests the trading halt to remain in place until the earlier of:
• Santos releasing an announcement to the market in relation to the completion of the retail $(1)$ shortfall bookbuild; and
• $(2)$ the commencement of trading on Friday, 4 December 2015.
• Santos expects that the trading halt will be ended by the announcement referred to in paragraph $(c)$ $(b)(1)$ .
• $(d)$ Santos is not aware of any reason why the trading halt should not be granted.
• $(e)$ Santos is not aware of any other information necessary to inform the market about the trading halt.

Yours sincerely

David Lim Company Secretary