Oil Search : Appendix 3X - Initial Director's Interest Notice - K Wulff

Appendix 3X

Initial Director's Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of Entity	OIL SEARCH LIMITED
ARBN	055 079 868

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	Keiran Wulff
Date of appointment	25 February 2020

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Number & class of securities

158,235 ordinary fully paid shares

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest

Note: Provide details of the circumstances giving rise to the relevant interest.

1. CPU Share Plans Pty Limited (as trustee for the Oil Search Restricted Shares Plan Trust), holds Restricted Shares awarded under CEO Designate contract (details in ASX release dated 1 Oct 2019) subject to a 6 month holding lock.
2. CPU Share Plans Pty Limited (as trustee for the Oil Search Restricted Shares Plan Trust) holds Restricted Shares awarded as mandatory deferral of 50% of FY19 short term incentive, subject to a two year holding lock.
3. CPU Share Plans Pty Limited (as trustee for the Oil Search Australian Employee Share Plan Trust), holds Performance Rights awarded under the Oil Search Long Term Incentive Plan (LTI Plan) that vest subject to performance criteria.
4. CPU Share Plans Pty Limited (as trustee for the Oil Search Australian Employee Share Plan Trust) holds LNG Expansion Incentive Performance Rights awarded under the Oil Search LNG Expansion Incentive Plan that vest subject to performance criteria.

Number & class of Securities

1. 26,849 Restricted Shares
2. 47,092 FY19 Restricted Shares
3. Performance Rights under LTI Plan:
4. • 66,900 FY17 Performance Rights
   • 64,100 FY18 Performance Rights
   • 69,850 FY19 Performance Rights
5. 40,083 FY18 LNG Expansion Incentive Performance Rights

+ See chapter 19 for defined terms.

30/9/2001

Appendix 3X Page 1

Appendix 3X

Initial Director's Interest Notice

Part 3 - Director's interests in contracts

Detail of contract	NA
Nature of interest	NA
Name of registered holder	NA
(if issued securities)
No. and class of securities to which interest	NA
relates

+ See chapter 19 for defined terms.

Appendix 3X Page 2

30/9/2001