Santos Limited · ASX:STO
Santos — 2023 Macquarie Australia Conference
15 slides from Santos's conference presentation, May 3, 2023
Slide 1: 2023 Macquarie Australia conference
2023 Macquarie Australia conference Kevin Gallagher, Managing Director and Chief Executive Officer 3 May 2023
Slide 2: Disclaimer
Macquarie Australia conference Disclaimer This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry, and the carbon capture and storage and carbon emissions reduction technologies industries. It is believed that the expectations r
Slide 3: 2022 was a record year for Santos
Macquarie Australia conference 2022 was a record year for Santos Disciplined operating model delivered record operating performance, strengthened balance sheet and increased returns to shareholders Record Record Record free Strengthened Higher returns production sales revenue cash flow balance sheet
Slide 4: Delivering increased shareholder returns
Macquarie Australia conference Delivering increased shareholder returns 40% of free cash flow in announced shareholder returns through cash dividends and on-market buyback. Final dividend up 78% to US15.1 cents per share 1. Excludes acquisitions / divestments, major growth capex and includes lease l
Slide 5: Continued momentum in Q1 2023
Macquarie Australia conference Continued momentum in Q1 2023 Strong revenue and free cash flow generation of US$720 million in the first quarter Production Sales revenue Free cash flow Continued shareholder returns 22.2 $1.6 $ 720 $0.5bn mmboe billion million of buyback completed1 1. As at 31 March
Slide 6: Diversified and balanced portfolio
Macquarie Australia conference Diversified and balanced portfolio Five core long-life producing assets generating strong free cash flows, including globally cost- competitive LNG assets Geographic diversification Production from five asset hubs Diversified product mix 56% LNG, 29% domestic gas and 1
Slide 7: Building a low capital intensity gas and liquids business
Macquarie Australia conference Building a low capital intensity gas and liquids business To generate strong cash flows, deliver returns to shareholders and invest in the energy transition Three LNG projects Low carbon processing of Santos’ Pikka Phase 1 and third-party gas and liquids ~80,000 bopd w
Slide 8: Upstream Gas and Liquids
Macquarie Australia conference Upstream Gas and Liquids Focused on backfilling and sustaining existing infrastructure Cooper Basin Queensland & PNG Northern Australia & Western Australia New South Wales Timor-Leste 2023/24 focus Targeting >100 Maintain ~6 mtpa Maintain steady Maximise late-life Mana
Slide 9: Santos Energy Solutions focused on delivering large-scale decarbonisation projects
Macquarie Australia conference Santos Energy Solutions focused on delivering large-scale decarbonisation projects CO2 domestic market opportunity >40 mtpa from third parties by 20301 Moomba Hub Darwin and Bayu-Undan Hub Western Australia Hub Santos’ carbon Moomba CCS to 1.7 mtCO2pa Bayu-Undan CCS FE
Slide 10: Bayu-Undan CCS is a 10mtpa project
Macquarie Australia conference Bayu-Undan CCS is a 10mtpa project Four MOUs executed to underpin potential CO2 supply to the Bayu-Undan CCS project Four MOUs signed with potential customers Volumes represent >10 million tonnes of CO2 per annum International CO2 transfer services Working with compani
Slide 11: Barossa is a world class project
Macquarie Australia conference Barossa is a world class project Barossa remains on track for 2025 production if drilling commences this year and the export pipeline is installed Project phase Execution, 56% complete (62% excluding DPD) Assuming that drilling re-commences before end 2023 and that the
Slide 12: Pikka is a world class project in a supportive fiscal jurisdiction
Macquarie Australia conference Pikka is a world class project in a supportive fiscal jurisdiction First oil 2026 Nameplate capacity 80,000 barrels of oil per day gross Expected 6-8 years plateau duration Capex to nameplate $2.6 billion gross (2022 real), $1.3 billion Santos share at 51% interest cap
Slide 13: Santos Foundation in PNG
Macquarie Australia conference Santos Foundation in PNG Strong tangible gains in health services, youth training, family support initiatives and community development Health Services Youth Opportunities Family Support Centres Community Development Supporting provision of health 13 young people from
Slide 14: Value proposition
Macquarie Australia conference Value proposition Investing in projects now to backfill and sustain existing infrastructure, generate strong free cash flows, maintain strong balance sheet, deliver returns to shareholders and invest in the energy transition Upstream Gas and Liquids Invest in the energ
Slide 15: www.santos.com
www.santos.com 03 May 2023 | 15