SANTOS LIMITED — M&A Activity 2021

Dec 7, 2021

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ASX: OSH | PNGX: OSH | ADR: OISHY

Oil Search Limited (“Oil Search”) is pleased to announce that the condition precedent in clause 3.1(e) of the Merger Implementation Deed in relation to clearance/approval from the Independent Consumer and Competition Commission of Papua New Guinea has been satisfied.

The implementation of the merger of Oil Search and Santos Limited ("Santos") (the "Scheme") effected by way of scheme of arrangement under PNG law remains subject to certain conditions, including Court approval and the satisfaction or waiver (where capable of waiver) of certain other customary conditions as outlined in the Merger Implementation Deed.

Contacts:

Investors

Media

Narelle Checchin Ian Pemberton SVP – IR & Communications P&L Corporate +61 466 329 059 +61 402 256 576 narelle.checchin@oilsearch.com ian.pemberton@plcorporate.com.au

This ASX announcement was authorised for release by the Acting Chief Executive Officer

About Oil Search

Oil Search is a responsible energy company, with a proud history and strong heritage, that contributes to a sustainable future. Established in 1929, the organisation’s purpose is to deliver low cost, high value energy that meets society’s needs, and its ambition is to be the preferred energy company for all stakeholders.

With activities well supported by a clear hierarchy for allocating capital, prioritising sustaining capital and a strong, flexible balance sheet, Oil Search is a safe, low-cost, reliable business with a clear path to future growth.

Recognised for its proven capability to operate in challenging environments, Oil Search has a world-class resource base and a strong track record of working with communities and stakeholders. Sustainability is embedded across the Company and it aspires to set the standard for sustainable development.

Oil Search is listed on the Australian and PNG security exchanges (ticker: OSH) and its ADRs trade on the US Over the Counter market (ticker: OISHY).

Oil Search Limited Incorporated in Papua New Guinea ARBN 055 079 868

Australian Office 1 Bligh Street, Sydney NSW 2000, Australia GPO Box 2442, Sydney NSW 2001, Australia

oilsearch.com

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P. +61 2 8207 8400 F. +61 2 8207 8500