Record annual production at top end of upgraded guidance

• Record annual production of 89 mmboe, 18% above the prior year and at the top end of upgraded guidance provided in December

• Record quarterly production of 25.4 mmboe, 1% above the prior quarter

• Record quarterly sales volumes of 31.1 mmboe, 7% above the prior quarter

• Record annual sales volumes of 107.1 mmboe generated annual sales revenue of US$3.4 billion

• Fourth quarter sales revenue of US$922 million, up 16%, primarily due to stronger LNG sales volumes (up 23%) and prices (up 25%)

• Santos’ disciplined operating model continues to drive costs lower, with 2020 upstream unit production costs of ~US$8/boe at the lower end of the US$8.00-8.50/boe guidance range

Strong free cash flow and low breakeven oil price