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Santos ASX / Media Release 19 August 2026 Santos reports strong base business performance as new production comes online Continued strong operating performance with best personal safety result on record , no lost - time injuries and no Tier 1 process safety incidents First - half production of 45.6 mmboe , up 3 per cent on the prior corresponding period • Sales revenue of $ 2.6 billion • • • • • • • EBITDAX of $ 1.6 billion Net profit after tax of $ 355 million , underlying profit of $ 397 million Free cash flow from operations of $ 378 million from strong base business performance , offset by commissioning and cargo timing effects expected to unwind in the second half Interim dividend declared of US 11.6 cents per share unfranked , totalling $ 377 million Gearing at 23.2 per cent excluding operating leases ( 28.1 per cent when leases included ) and strong liquidity with no debt maturities until September 2027 Pikka first oil achieved safely in May , continuous production from June and first crude oil cargo lifted in August 2026 Barossa delivered seven cargoes by end of June with another five cargoes delivered since 1 July . Currently producing at around 550 mmscf / d Moomba CCS has stored around 2.3 million tonnes of CO2 equivalent since start - up Santos today announced its half - year results for 2026 , reflecting a period of transition for the company as the Pikka project commenced production , Barossa continued to progress through commissioning and ramp - up , underpinned by the base business which performed strongly . First - half production was 45.6 mmboe , up 3 per cent 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 free cash flow result reflects the impact of commissioning activities at Barossa and Pikka , the timing of cargo movements around 30 June and a PNG under - lift position of around 1.3 million barrels of oil equivalent . These impacts are expected to unwind early in the second half as production increases and the PNG under - lift position is reversed . The Board has resolved to pay an interim dividend of US 11.6 cents per share , consistent with Santos ' capital allocation framework and reflecting its view of the expected full year performance outlook . Media enquiries Samantha Hutchinson +61 ( 0 ) 425 317 171 samantha.hutchinson@santos.com Investor enquiries Lucia Walsh +61 ( 0 ) 438 872 151 lucia.walsh@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