SANTOS LIMITED — Director's Dealing 2023

May 28, 2023

Ms Yushra Haniff Adviser, Listings Compliance Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

29 May 2023

Dear Ms Haniff

Appendix 3Y – Change of Director's Interest Notice

Enclosed is an Appendix 3Y Notice by Santos Limited for Kevin Gallagher in respect of an award of deferred shares as part of the 2022 short term incentive (deferred STI shares) and allocation of share acquisition rights resulting from the long term incentive grant approved by shareholders at the AGM held on 6 April 2023.

The deferred STI shares are held by Santos' employee share plan trustee. The beneficial interests in the shares were allocated to Mr Gallagher on 27 March 2023 in full compliance with the Company's Securities Trading Policy (which provides for the Company Secretary to lodge an Appendix 3Y when there is a change in Director's interests). Due to an administrative oversight, an Appendix 3Y was not lodged within the prescribed time period. Santos has recognised this error and notified the ASX. In addition, Santos has reviewed its processes and taken steps to ensure that future share allocations to Mr Gallagher will be lodged in accordance with the time period prescribed by the ASX Listing Rules.

Yours sincerely,

Amanda Devonish Company Secretary

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	3 March 2023

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 rise to the relevantinterest.	Shares held by CPU Share Plans Pty Ltd as Santos'employee share plan trustee
Date of change	27 March and 23 May 2023
No. of securities held prior to change	2,050,000fully paid ordinary shares (indirectinterest through Gallagher family A/C – K & SGallagher Holdings Pty Ltd)2,440,164 Share Acquisition Rights granted underSEEIP, previously known as SESPP215,971 restricted fully paid ordinary shares heldby the employee share plan trustee (2021deferred STI)1,796 share acquisition rights granted underShareMatch1,796 fully paid ordinary shares held by theemployee share plan trustee (2020 ShareMatch)
Class	Share acquisition rights and fully paid ordinaryshares
Number acquired	506,722 share acquisition rights149,623 fully paid ordinary shares
Number disposed	Nil

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil
No. of securities held after change	2,050,000fully paid ordinary shares (indirectinterest through Gallagher family A/C – K & SGallagher Holdings Pty Ltd)2,946,886 Share Acquisition Rights granted underSEEIP, previously known as SESPP215,971 restricted fully paid ordinary shares heldby the employee share plan trustee (2021deferred STI)149,623 restricted fully paid ordinary shares heldby the employee share plan trustee (2022deferred STI)1,796 share acquisition rights granted underShareMatch1,796 fully paid ordinary shares held by theemployee share plan trustee (2020 ShareMatch)
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buyback	1.On 23 May 2023, allocation of 506,722 shareacquisition rights resulting from the LongTermIncentiveGrantapprovedbyshareholders at the AGM held on 6 April 2023.2.On 27 March 2023, transfer of beneficialinterest in 149,623shares held by theemployee share plan trustee. The shares aredeferred for 2 years from 1 January 2023 onaccount of 50% of the 2022 STI award.

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

+ See chapter 19 for defined terms.

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 periodwhere 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.