SANTOS LIMITED — Director's Dealing 2016

Jun 30, 2016

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	SANTOS LIMITED
ABN	80 007 550 923

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Guy Michael Cowan
Date of last notice	10 May 2016

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest	Netwealth Investments Limited <super services<="" td="">
(including registered holder)	A/c>, as trustee for Netwealth Superannuation
Note: Provide details of the circumstances giving rise to the relevant	Master Fund on behalf of Guy Cowan, of which the
interest.	director is a 100% beneficiary.
Date of change	27 June 2016
No. of securities held prior to change	15,000 fully paid ordinary shares (direct interest)
Class	Fully paid ordinary shares
Number acquired	Nil
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$4.66 per share

+ See chapter 19 for defined terms.

No. of securities held after change	15,000fullypaidordinaryshares(indirectinterest)
Nature of change	Off market transfer from Guy Cowan to Netwealth
Example: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buyback	Superannuation Master Fund on behalf of GuyCowan,ofwhichthedirectorisa100%beneficiary.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation
Interest after change

Part 3 – +Closed period

Were the interests in the securities or contracts detailed above	No
traded during a +closed period where prior written clearancewas required?
If so, was prior written clearance provided to allow the trade toproceed during this period?	Not applicable
If prior written clearance was provided, on what date was thisprovided?	Not applicable

+ See chapter 19 for defined terms.