• Best on record personal safety performance and 10-year best process safety performance • Free cash flow of $1.8 billion from strong base business performance • Dividends of US 23.7 cents per share, representing 43% of 2025 free cash flow

Santos today announced its full-year results for 2025, demonstrating the continued strength of its disciplined low-cost operating model. The company reported annual production of 87.7 mmboe, sales volumes of 93.5 mmboe, underlying net profit after tax of $898 million, and strong free cash flow generation of $1.8 billion. Santos achieved its best on record personal safety performance and 10-year best process safety performance. The Board has resolved to pay a final dividend of US 10.3 cents per share, bringing the full year dividends to US 23.7 cents per share, representing 43% of 2025 free cash flow from operations. This reflects the strong balance sheet position and de-risking of Barossa and Darwin LNG. The base business has performed exceptionally well, with production maintained and the best unit production costs in a decade, achieved through the disciplined low-cost operating model. Santos also achieved its 2030 emissions reduction target of 30% five years early, with the Moomba CCS project playing a key role. The company is now positioned to grow the business with the financial flexibility to pursue additional opportunities while rapidly reducing gearing.

2026 Guidance: Production volumes of 101 to 111 mmboe, sales volumes of 101 to 111 mmboe, total capital expenditure of ~$1.95 to $2.15 billion, and unit production costs of $6.95 to $7.45 per boe.

Santos is completing two major development projects, Barossa and Pikka phase 1, that will position the company with a world-class asset portfolio capable of growing the business with an all-in break even oil price of $45-50/bbl to 2030 and delivering shareholder returns.