• Free cash flow from operations of ~$300 million, delivering year-to-date free cash flow of ~$1.4 billion
• Production of 21.3 mmboe, bringing total year-to-date production to 65.4 mmboe
• Sales revenue of $1.1 billion, contributing to cumulative revenue of $3.7 billion year-to-date

Santos Ltd reported strong financial and operational performance in the third quarter of 2025. The company generated free cash flow from operations of ~$300 million, bringing year-to-date free cash flow to ~$1.4 billion. Production reached 21.3 mmboe, contributing to total year-to-date production of 65.4 mmboe. Sales volumes were 21.5 mmboe, with year-to-date sales one per cent higher than the prior year. Sales revenue for the quarter was $1.1 billion, contributing to cumulative revenue of $3.7 billion year-to-date. Operationally, the company saw strong performance across its assets, including high reliability at PNG LNG, increased Western Australia domestic gas production, and continued growth in GLNG upstream gas production. The Moomba Carbon Capture and Storage project also performed to plan, safely and permanently storing more than 1.3 Mt (gross) of CO2e in its first year of operation. The company also made progress on its major development projects, with the BW Opal FPSO commencing production phase commissioning and operations for the Barossa LNG project, and the Pikka phase 1 project advancing towards completion. Santos' Managing Director and CEO, Kevin Gallagher, highlighted the resilience and strength of the company's diversified portfolio as it transitions from a period of high capital intensity to one that will deliver stronger returns for shareholders.

Full year production guidance has been narrowed to 89 to 91 mmboe (previously 90-95 mmboe), primarily due to the slower than anticipated start-up of the BW Opal FPSO and the impact of floods on Cooper Basin production. Sales volume guidance has been narrowed to 93 to 95 mmboe, in line with the production guidance change. Capital expenditure, unit production cost, depreciation, depletion and amortisation guidance are unchanged.