• Strong free cash flow from operations of US$1.9 billion
• Final dividend declared of US 10.3 cents per share unfranked, representing 40% of free cash flow
• Successful startup of Moomba CCS phase one reduced emissions by 26%

Santos today announced its full-year results for 2024, reporting annual production of 87.1 mmboe and sales volumes of 91.7 mmboe. Free cash flow from operations was US$1,891 million and underlying profit was US$1,201 million. Santos delivered its best personal safety performance in 10-years. The Board resolved today to pay a final dividend of US 10.3 cents per share, unfranked. This brings full-year dividends to US 23.3 cents per share unfranked, representing 40 per cent of free cash flow from operations in line with the company's dividend policy. A highlight of the year was the successful startup of Moomba CCS phase one in September, which had an immediate and ongoing impact on the company's emissions. Net equity Scope 1 and 2 emissions for 2024 reduced by 26 per cent and fourth quarter emissions intensity reduced by 18 per cent compared to the baseline year of 2019-20. The Barossa LNG project is 91 per cent complete and remains on track for first gas in the third quarter this year. Pikka phase one project in Alaska continues to make strong progress, with first oil remaining on track for mid-2026. Santos' LNG marketing business performed strongly across the year, with long-term and mid-term agreements signed with tier one customers. In 2024, Santos' Scope 1 and 2 equity emissions were 26 per cent lower than the baseline year of 2019-20, representing 84 per cent progress to the 2030 emissions reduction target of 30 per cent.

2025 Guidance: Production volumes: 90-97 mmboe Sales volumes: 92-99 mmboe Capital expenditure - sustaining: ~$1.2-$1.3 billion Capital expenditure - major projects: ~$1.2-$1.3 billion Unit production costs: $7.00-7.50 per boe