Oil Search : Appendix 3Y - Change of Director’s Interest Notice – K Wulff

Appendix 3Y

Change of Director's Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of 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 30/09/01 Amended 01/01/11

Name of entity	Oil Search Limited
ARBN	055 079 868

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Keiran Wulff
Date of last notice	10 March 2021
Date of this notice	25 May 2021

Note: provide the date this notice is lodged with the ASX.

Part 1 - Change of director's relevant interests in securities

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

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct and indirect
Nature of indirect interest	∙	Ordinary fully paid shares held by Wakat Pty Ltd
(including registered holder)	∙	Restricted Shares held by CPU Share Plans Pty Limited
Note: Provide details of the circumstances giving rise to the relevant		(as trustee for the Oil Search Restricted Shares Plan
interest.
	Trust)
	∙	Performance Rights and LNG Expansion Incentive
		Performance Rights held by CPU Share Plans Pty Limited
		(as trustee for the Oil Search Australian Employee Share
		Plan Trust)
	∙	Alignment Rights held by CPU Share Plans Pty Limited (as
		trustee for the Oil Search Australian Employee Share Plan
		Trust)
Date of change	18 May 2021

+ See chapter 19 for defined terms.

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Appendix 3Y

Change of Director's Interest Notice

No. of securities held prior to change	1.	289,076 ordinary fully paid shares indirectly held by Wakat
		Pty Ltd
	2.	Restricted Shares:
		∙ 55,030 2020 Restricted Shares awarded as 50%
		deferral of FY19 STI subject to a 2-year holding lock,
		held by CPU Share Plans Pty Limited (as trustee for the
		Oil Search Restricted Shares Plan Trust)
	3.	Performance Rights:
		∙ 64,100 2018 Performance Rights
		∙ 69,850 2019 Performance Rights
		∙ 286,100 2020 Performance Rights
		awarded under the Oil Search LTI Plan and vest subject to
		performance criteria, held by CPU Share Plans Pty Limited
		(as trustee for the Oil Search Australian Employee Share
		Plan Trust)
	4.	40,083 2018 LNG Expansion Incentive Performance Rights
		awarded under the Oil Search LNG Expansion Incentive
		Plan and vest subject to performance criteria, held by CPU
		Share Plans Pty Limited (as trustee for the Oil Search
		Australian Employee Share Plan Trust)
Class	1.	Ordinary fully paid shares
	2.	Restricted Shares (2-year holding lock)
	3.	Performance Rights
	4.	2018 LNG Expansion Incentive Performance Rights
Number acquired	a) 308,544 2021 Restricted Shares awarded as 63% deferral of
		FY20 STI
	b) 386,363 2021 Performance Rights awarded under LTI Plan
	c) 104,020 2021 Alignment Rights awarded under LTI Plan
Number disposed	a) 64,100 2018 Performance Rights (64,100 lapsed)
Value/Consideration	Nil. All transactions in this Appendix 3Y occurred under the
Note: If consideration is non-cash, provide details and estimated	company's employee incentive plans
valuation

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

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Appendix 3Y

Change of Director's Interest Notice

No. of securities held after change

1. 289,076 ordinary fully paid shares indirectly held by Wakat Pty Ltd
2. Restricted Shares:
3. • 55,030 2020 Restricted Shares awarded as 50% deferral of FY19 STI subject to a 2-year holding lock, held by CPU Share Plans Pty Limited (as trustee for the Oil Search Restricted Shares Plan Trust)
   • 308,544 2021 Restricted Shares awarded as 63% deferral of FY20 STI subject to a 2-year holding lock, held by CPU Share Plans Pty Limited (as trustee for the Oil Search Restricted Shares Plan Trust
4. Performance Rights:
5. • 69,850 2019 Performance Rights
   • 286,100 2020 Performance Rights
   • 386,363 2021 Performance Rights

awarded under the Oil Search LTI Plan and vest subject to performance criteria, held by CPU Share Plans Pty Limited (as trustee for the Oil Search Australian Employee Share Plan Trust)

1. Alignment Rights
2. • 104,020 2021 Alignment Rights awarded under the Oil Search LTI Plan and vest subject to performance criteria, held by CPU Share Plans Pty Limited (as trustee for the Oil Search Australian Employee Share Plan Trust)
3. Expansion Rights:
4. • 40,083 2018 LNG Expansion Incentive Performance Rights awarded under the Oil Search LNG Expansion Incentive Plan and vest subject to performance criteria, held by CPU Share Plans Pty Limited (as trustee for the Oil Search Australian Employee Share Plan Trust)

Nature of change	a)	Award of 2021	Restricted Shares as 63% deferral of FY20
Example: on-market trade, off-market trade, exercise of options, issue of		STI, approved by shareholders at the 2021 Annual
securities under dividend reinvestment plan, participation in buy-back		Meeting
	b)	Award of 2021	Performance Rights under LTI Plan,
		approved by Shareholders at the 2021 Annual Meeting
	c)	Award of 2021	Alignment Rights under LTI Plan, approved
		by Shareholders at the 2021 Annual Meeting
	d)	Lapsing of 2018 Performance Rights

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

+ See chapter 19 for defined terms.

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Appendix 3Y

Change of Director's Interest Notice

Detail of contract	-
Nature of interest	-
Name of registered holder	-
(if issued securities)
Date of change	-
No. and class of securities to which	-
interest related prior to change
Note: Details are only required for a contract in relation to which the
interest has changed
Interest acquired	-
Interest disposed	-
Value/Consideration	-
Note: If consideration is non-cash, provide details and an estimated
valuation
Interest after change	-

Part 3 - +Closed period

Were the interests in the securities or contracts detailed above	No
traded during a +closed period where prior written clearance
was required?
If so, was prior written clearance provided to allow the trade to	N/A
proceed during this period?
If prior written clearance was provided, on what date was this	N/A
provided?

+ See chapter 19 for defined terms.

Appendix 3Y Page 4

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