SANTOS LIMITED — Major Shareholding Notification 2016

May 2, 2016

605 page 1/2 15 July 2000

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Santos Limited
ACN/ARSN	007 550 923
1. Details of substantial holder (1)
Name	Robust Nation Investments Limited (Robust Nation), Hony Partners Group, L.P. and Hony Managing Partners Limited
ACN/ARSN (if applicable)	Not applicable
The holder ceased to be a
substantial holder on	28/04/2016
The previous notice was given to the company on	18/02/2016
The previous notice was dated	16/02/2016

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, sinceThe substantial holder was last required

Date ofchange	Person whoserelevant interestchanged	Nature ofchange (4)	Considerationciven in relationto changes (5)	Class (6) andnumber ofsecurities affected	Person'svotesaffected
28/04/2016	Robust Nation.Hony PartnersGroup, L.P., HonyManagingPartners Limited	Disposal of a relevant interest in206,951,886 lully paid ordinary shares heldby United Faith Ventures Limited (UFVL) asa result of the sale of the shares in UFVL toXinneng (Hong Kong) Energy InvestmentLimited pursuant to a share transferagreement dated 22 March 2016 betweenENN Ecological Holdings Co. Ltd. (ENN) andRobust Nation Investments Limited (a copyof which is attached to ENN's notice of initialsubstantial holder todged with ASX on 24March 2016)	USD 754,809,895	206.951.886 fullypaid ordinaryshares	206,951,886

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to votingInterests in the company or scheme are as fo

Name and ACN/ARSN (if applicable)	` Nature of association
UFVL	Ceases to be an associate of Robust Nation, Hony Partners Group,1 L.P., Hony Managing Partners Limited following the sale noted in'section 2 of this form. .

4. Addresses

The addresses of persons named in this form are as follows:

Name	Addres *
	productions of the construction and material constructions and constructions of the construction of the construction of the construction of the construction of the construction of the construction of the construction of th
	P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands
Sroup. L.	P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands
` Hony Managine Partners Limited	P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands

Signature

print name Lin Tun		Director:Canacitv
sign here		date 02 / 05 / 2016
	2010/07/09.

605 page 2/2 15 July 2000

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg a corporation and its related corporations, or the manager and trustee of $(1)$ an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• $(2)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(3)$
• Include details of: $(4)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy ofany document setting out the terms of any relevant agreement, and a statemen $(a)$ or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the $(b)$ securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies)

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, bocomeentitled to receive in relation to that acquisition. Details m $(5)$ whom the relevant interest was acquired.
• The voting shares of a company constitute one class unless divided into separate classes. $(6)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(7)$