Santos Limited · ASX:STO
Santos — 2025 Macquarie Conference
14 slides from Santos's conference presentation, May 7, 2025
Slide 1: 2025 Macquarie Conference
2025 MACQUARIE CONFERENCE For personal use only KEVIN GALLAGHER MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER May 2025
Slide 2: Disclaimer and important notice
Macquarie Conference Disclaimer and important notice For personal use only This presentation contains forward-looking statements that reflect Santos’ expectations at the date of this report (including with respect to Santos’ strategies and plans relating to climate change).These statements are based
Slide 3: Santos - growing shareholder value
Macquarie Conference Santos - growing shareholder value Focused on delivering superior shareholder returns through our disciplined low-cost operating model and executing our strategy For personal use only Oil and gas remain an essential part of the energy mix. Santos is strategically positioned to A
Slide 4: Strong product markets
Macquarie Conference Strong product markets Our strategy is focused on strong growth markets in Asia. Oil and gas remain key to the global energy mix through the 2040s For personal use only Global primary energy demand1 Asia LNG demand2 Global liquids supply-demand3 EJ Demand Gas Other Mtpa mmbbl/d
Slide 5: LNG position in strong and growing markets
Macquarie Conference LNG position in strong and growing markets Strong LNG pricing achieved through high heating value LNG, proximity to markets and portfolio flexibility For personal use only Proximal to Asian demand centres, shorter sailing distances1 Asia LNG contracting position3 Mtpa LNG Demand
Slide 6: Disciplined low-cost operating model delivering
Macquarie Conference Disciplined low-cost operating model delivering Santos remains strong and resilient – disciplined low-cost operating model, competitive cost of supply, low unit production costs, and a free cash flow breakeven from operations of below US$35 per barrel For personal use only Produ
Slide 7: Base business performing and delivering
Macquarie Conference Base business performing and delivering Strong first quarter operational performance from base business, providing reliable production and cash flows For personal use only Midstream Energy PNG GLNG Cooper Basin Western Australia Solutions Moomba CCS phase 1 Excellent reliability
Slide 8: Barossa LNG project update
Macquarie Conference Barossa LNG project update Project 95.4 per cent complete1 and remains on schedule and within capex guidance. Production from four wells can deliver nameplate capacity, derisking the project For personal use only First gas on track for Q3-2025 Production 2 Barossa Production Ope
Slide 9: Pikka phase 1 project update
Macquarie Conference Pikka phase 1 project update Project 85 per cent complete1 and remains on schedule and within capex guidance. Potential for early production, subject to weather and logistics. Significant resource potential beyond phase 1. For personal use only First oil target mid-2026 Pipeline
Slide 10: Moomba Central optimisation
Macquarie Conference Moomba Central optimisation Moomba Central optimisation FID ready in 2025, delivering low-cost gas to 2040 and beyond For personal use only Improving facility reliability and low-cost production Successful electrification, centralisation and modernisation of facilities Moomba Ce
Slide 11: Reserves and resources to backfill production
Macquarie Conference Reserves and resources to backfill production 18-year 2P reserves life, 11-year 1P reserves life and large-scale gas resources close to existing LNG infrastructure1 For personal use only By location2 By product type 2P and 2C contingent CO2 storage capacity % % MtCO2 2C Integrat
Slide 12: Sustainable growth options
Macquarie Conference Sustainable growth options Options will be progressed and phased in accordance with our disciplined capital allocation framework For personal use only Beetaloo – Papua LNG Pikka phase 2 Bedout Basin Narrabri & Quokka (Dorado) GLNG/DLNG & P’nyang Fully appraised with all APF tie-
Slide 13: 2025 Strategic priorities
Macquarie Conference 2025 Strategic priorities Focused on driving shareholder returns by delivering our disciplined low-cost operating model and executing on development projects For personal use only Deliver safe, reliable and low-cost production Progress PNG LNG and East Coast LNG from base busine
Slide 14: Macquarie Conference
For personal use only Macquarie Conference 14