• First-half production of 45.6 mmboe, up 3% on prior corresponding period
• Sales revenue of $2.6 billion and EBITDAX of $1.6 billion
• Net profit after tax of $355 million and underlying profit of $397 million
• Interim dividend declared of US 11.6 cents per share
• Gearing at 23.2% excluding operating leases

Santos has announced its half-year results for 2026, reflecting a period of transition as new production projects, Pikka and Barossa, commenced operations. First-half production was 45.6 mmboe, up 3% on the prior corresponding period. Sales revenue was $2.6 billion, EBITDAX was $1.6 billion, and free cash flow from operations was $378 million. The company achieved a best-ever personal safety performance with no lost-time injuries and no Tier 1 process safety incidents. Santos also lifted the first crude oil cargo from Pikka in August 2026 and Barossa delivered seven cargoes by the end of June. The company's disciplined low-cost operating model delivered strong cash flow, earnings, and returns.

Second-half production expected to be 20-30% higher than the first half

Santos expects to achieve stronger cash generation and returns for shareholders in the second half of 2026 as production increases and the PNG under-lift position is reversed.