Oil Search Investor Presentation — August 2021

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202124 August 2021INVESTOR PRESENTATIONHALF YEAR RESULTS2021 HALF YEAR RESULTS 24 AUGUST 202101Disclaimer

This presentation is in summary form and does not purport to be complete. It should be read in conjunction with Oil Search’s periodic reporting including but not limited to its Quarterly Reports,

Half Year Report, Annual Report and other ASX announcements. All $ figures are USD unless otherwise specified and all resource and cost estimates in this presentation are made by Oil Search only.

This presentation contains forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will or

may occur in the future and are outside the control of Oil Search. Actual outcomes may differ materially from those expressed in such statements, due to a variety of factors, including: oil and gas prices;

the extent and duration of the impact of current market conditions including but not limited to currency fluctuations; the demand for oil; the impact of COVID-19; overall global economic and business

conditions impacting our business; development and use of new technology; drilling results; field performance; the timing of field development; reserves depletion; progress on gas commercialisation;

the actions of third parties including our competitors, partners, contractors, subcontractors, and others; regulatory and governmental issues and approvals; and other factors discussed elsewhere in

this presentation, and also under the “Material business risks” section (and elsewhere) in our Annual Report.

The information in this presentation is an overview and does not contain all information necessary for investment decisions. This presentation includes a high level summary of the non-binding and

indicative Santos proposal announced on 2 August 2021 (the Revised Proposal) in relation to the proposed merger between Oil Search and Santos by way of scheme of arrangement under the PNG

Companies Act. As noted by Oil Search on 2 August 2021, subject to each party completing due diligence on the other to its satisfaction, and the entry into of a merger implementation deed, the

Oil Search Board intends to unanimously recommend shareholders vote in favour of the Revised Proposal. There is no certainty that the Revised Proposal will result in a transaction. This presentation

does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any securities nor does it constitute investment advice nor take into account your

investment objectives, taxation situation, financial situation or needs. In making investment decisions investors should rely on their own examination of any proposed investment and should obtain