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Santos Ltd | 2023 Investor Day Presentation | Kevin Gallagher | Page 1 of 11 | September 11, 2026

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Media enquiries Ken McGregor +61 (0) 401 037 140 Ken.McGregor@santos.com Investor enquiries Brian Massey +61 8 8116 7354 | +61 (0) 432 099 391 Brian.Massey@santos.com Santos Limited ABN 80 007 550 923 GPO Box 2455, Adelaide SA 5001 T +61 8 8116 5000 | F +61 8 8116 5131 santos.com Page 1 ASX / Media Release 22 November 2023 2023 Investor Day Santos today reaffirmed its strategy to deliver long-term shareholder value, provide reliable, affordable energy for customers and achieve net-zero emissions (scope 1 and 2, equity share) by 2040. Speaking at the company’s Investor Day in Sydney, Managing Director and Chief Executive Officer Kevin Gallagher said Santos’s purpose and strategy reflects the critical role of reliable, affordable energy in modern life as well as emphasising the need to meet the world’s climate goals. “We are focused on delivering our strategy through backfilling and sustaining our upstream production and midstream infrastructure, decarbonising our assets and developing the low-carbon fuel opportunities the world needs. Santos is now able to generate compelling cash flows to drive shareholder returns, develop major energy and CCS projects whilst maintaining a strong balance sheet. This is against a backdrop of a volatile global environment which is driving further consolidation across the energy sector,” Mr Gallagher said. “Energy security is a top priority for the giant energy-consuming economies in our region. We cannot turn off the taps on oil and gas before replacement technologies are technically feasible, affordable and available. “Oil and Gas will be required for many decades to come. Therefore, a meaningful decarbonisation strategy must include pathways to abate emissions from these fuels. Our strategy includes a strong focus on abatement through large-scale carbon capture and storage, and technologies such as direct air capture.” While we seek to develop low-carbon fuels as customer demand and technology evolves, Santos is committed to supplying oil and gas, and abating our own and our customers emissions through carbon capture and storage, energy efficiency projects, utilising renewables in our operations and high-quality offsets. The Santos portfolio is value accretive and resilient across a range of decarbonisation scenarios. Santos has a climate transition action plan that will continue to evolve as technology and markets change over time. “Our tier one LNG portfolio is backed by long-term contracts with tier one buyers and flexible contract terms that allow us to manage LNG spot exposure to provide risked upside potential,” Mr Gallagher said. “The proximity of our LNG projects to key Asian markets means not only are scope three emissions approximately two and a half times lower from our LNG shipments than our US peers, CO2 imports are more viable, offering customers and hard to abate industries a way to manage emissions by taking advantage of our large-scale carbon storage resources. “Execution of our Alaska, Barossa and Moomba CCS projects continues. Alaska is now 29 per cent complete. We have a highly capable team in place, supportive stakeholders and partners, including our