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SANTOS LIMITED Capital/Financing Update 2016

Mar 2, 2016

65872_rns_2016-03-02_e15e2e77-53ba-4197-b521-ae33bed7ab3a.pdf

Capital/Financing Update

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ASX/Media Release

3 March 2016

Completion of Kipper asset sale

Santos announced in November 2015 the sale of its 35% non-operated interest in the Kipper gas field, located in the Gippsland Basin, offshore Victoria to Mitsui E&P Australia Pty Ltd (Mitsui) for $520 million in cash.

Santos advises that the sale has been completed and it has received the sale proceeds from Mitsui.

Ends.

Media enquiries Armon Hicks +61 2 9276 1157/ +61 (0) 414 981 372 [email protected]

Investor enquiries Andrew Nairn +61 8 8116 5314 / +61 (0) 437 166 497 [email protected]

Santos Limited ABN 80 007 550 923 GPO Box 2455, Adelaide SA 5001 T: +61 8 8116 5000 / F: +61 8 8116 5131 www.santos.com