SANTOS LIMITED — Director's Dealing 2019

Feb 4, 2019

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	Kevin Thomas Gallagher
Date of last notice	14 January 2019

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	Direct and indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving riseto the relevant interest.	K & S Gallagher Holdings Pty Ltd ofwhich the director is a 50% beneficiary.
Date of change	30 January 2019
No. of securities held prior to change	508,525 fully paid ordinary shares (indirect interest)111,038 fully paid ordinary shares (direct interest)2,093,144 Share Acquisition Rights granted under SEEIP,previously known as SESPP93,735 fully paid ordinary shares held by Sesap Pty Ltd (2017deferred STI)
Class	Fully paid ordinary shares
Number acquired	111,038 – off‐market transfer
Number disposed	111,038 – off‐market transfer
Value/ConsiderationNote: If consideration is non‐cash, provide detailsand estimated valuation	$700,650 (estimated value)

+ See chapter 19 for defined terms.

No. of securities held after change	619,563 fully paid ordinary shares (indirect interest)2,093,144 Share Acquisition Rights granted under SEEIP,previously known as SESPP93,735 fully paid ordinary shares held by Sesap Pty Ltd (2017deferred STI)
Nature of changeExample:on‐markettrade,off‐markettrade,exercise of options, issue of securities underdividend reinvestment plan, participation in buy‐back	Off market transfer of 111,038 fully paid ordinary shares fromKevin Thomas Gallagher (direct interest) to K & S GallagherHoldings Pty Ltd (indirect interest), no change in overallholding.

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(the transfer is an excluded
traded during a +closed period where prior written clearancewas required?	dealing under Santos' SecuritiesDealing Policy)
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.