Santos : Ceasing to be a substantial holder

605 Page 1 of 2 15 July 2001

Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

For personal use only

ToCompany Name/Scheme	Santos Limited
ACN/ARSN	007 550 923
1. Details of substantial holder (1)
Name	State Street Corporation and subsidiaries named in Annexures to this form
ACN/ARSN (if applicable)
The holder ceased to be a substantial holder on	20/12/2021
The previous notice was given to the company on	14/12/2021
The previous notice was dated		10/12/2021

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose	Nature of change (4)	Consideration given in	Class (6) and	Person's votes
	relevant interest		relation to change (5)	number of securities	affected
	changed			affected
Annexure A
& C

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

4. Addresses

The addresses of persons named in this form are as follows:

Name

Address

Annexure B

Signature

print name

Elizabeth Schaefer

capacity

Authorised signatory

sign here

Digitally signed by Elizabeth Schaefer

Date: 2021.12.21 16:23:47 -05'00'

date 22/12/2021

Information Classification: Limited Access

605 Page 2 of 2 15 July 2001

DIRECTIONS

For personal use only

1. If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
2. See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
3. See the definition of "associate" in section 9 of the Corporations Act 2001.
4. Include details of:
5. 1. any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
   2. any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

1. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
2. The voting shares of a company constitute one class unless divided into separate classes.
3. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Information Classification: Limited Access

	This is Annexure A referred to in Form 605 Notice of ceasing to be a substantial holder						Annexure A
	Digitally signed by
	Elizabeth Schaefer
	Date: 2021.12.21
	16:24:05 -05'00'
	____________________________________ 22 December 2021
	Elizabeth Schaefer
	Authorised Signatory
	Date of Change	Person whose relevant interest changed	Nature of Change	Consideration given in relation to Change		Class and number of Securities affected		Person's Votes affected
	12/13/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	In specie application		n/a	Ordinary		6,220	6,220
only	12/13/2021	STATE STREET GLOBAL ADVISORS, INC.	In specie application		n/a	Ordinary		136	136
12/13/2021	STATE STREET GLOBAL ADVISORS, INC.	Purchase		6.59	Ordinary		6,924	6,924
12/13/2021	STATE STREET GLOBAL ADVISORS (JAPAN) CO., LTD.	Purchase		6.60	Ordinary		31,274	31,274
12/14/2021	STATE STREET GLOBAL ADVISORS, INC.	In specie application		n/a	Ordinary		452	452
	12/15/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	In specie application		n/a	Ordinary		6,220	6,220
	12/15/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	Purchase		6.48	Ordinary		359,056	359,056
	12/16/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	In specie application		n/a	Ordinary		104,332	104,332
	12/16/2021	STATE STREET GLOBAL ADVISORS LIMITED	Sale		6.38	Ordinary		(16,300)	(16,300)
	12/16/2021	STATE STREET GLOBAL ADVISORS, INC.	In specie application		n/a	Ordinary		7,338	7,338
	12/16/2021	STATE STREET GLOBAL ADVISORS, INC.	Purchase		6.38	Ordinary		16,300	16,300
	12/16/2021	STATE STREET GLOBAL ADVISORS, INC.	Purchase		6.39	Ordinary		111,549	111,549
	12/17/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	Sale		6.42	Ordinary		(289,065)	(289,065)
	12/17/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	Sale		6.43	Ordinary		(16,002)	(16,002)
	12/17/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	Purchase		6.42	Ordinary		302,259	302,259
	12/17/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	Purchase		6.43	Ordinary		4,351	4,351
	12/17/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	Purchase		6.43	Ordinary		46,612	46,612
	12/17/2021	STATE STREET GLOBAL ADVISORS LIMITED	Sale		6.42	Ordinary		(103,966)	(103,966)
	12/17/2021	STATE STREET GLOBAL ADVISORS LIMITED	In specie redemption		n/a	Ordinary		(1)	(1)
	12/17/2021	STATE STREET GLOBAL ADVISORS, INC.	Sale		6.42	Ordinary		(151,721)	(151,721)
	12/17/2021	STATE STREET GLOBAL ADVISORS, INC.	In specie application		n/a	Ordinary		2,332	2,332
use	12/17/2021	STATE STREET GLOBAL ADVISORS, INC.	Purchase		6.42	Ordinary		412,846	412,846
12/17/2021	STATE STREET GLOBAL ADVISORS, INC.	Purchase		6.52	Ordinary		33,641	33,641
12/17/2021	STATE STREET GLOBAL ADVISORS (JAPAN) CO., LTD.	In specie application		n/a	Ordinary		1	1
12/17/2021	STATE STREET GLOBAL ADVISORS EUROPE LIMITED	Sale		6.42	Ordinary		(45,078)	(45,078)
	12/20/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	In specie application		n/a	Ordinary		64,746	64,746
	12/20/2021	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED	Purchase		6.11	Ordinary		13,522	13,522
	12/20/2021	STATE STREET GLOBAL ADVISORS, INC.	Sale		6.15	Ordinary		(473,352)	(473,352)
	12/20/2021	STATE STREET GLOBAL ADVISORS, INC.	In specie redemption		n/a	Ordinary		(21,189)	(21,189)
	12/17/2021	STATE STREET BANK AND TRUST COMPANY	Lending securities under a		n/a	Ordinary		3,298	3,298
			securities loan to AQR
			FUNDS AQR RISK PARITY
			FUND - Refer annexure
			Part B of Annexure C
	12/17/2021	STATE STREET BANK AND TRUST COMPANY	Return of securities under		n/a	Ordinary		(11,249)	(11,249)
			a securities loan by
			TEACHER RETIREMENT
			SYSTEM OF TEXAS - Refer
			Part B of Annexure C
For personal

Information Classification: Limited Access

This is Annexure B referred to in Form 605 Notice of ceasing to be a substantial holder

	Digitally signed by
	Elizabeth Schaefer
onlyusepersonalFor	Date: 2021.12.21 16:24:23
-05'00'
____________________________________ 22 December 2021
Elizabeth Schaefer
	Authorised Signatory
	Name
	STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED
	STATE STREET GLOBAL ADVISORS, INC.
	STATE STREET GLOBAL ADVISORS LIMITED
	STATE STREET GLOBAL ADVISORS (JAPAN) CO., LTD.
	STATE STREET GLOBAL ADVISORS EUROPE LIMITED
	STATE STREET BANK AND TRUST COMPANY

Annexure B

Address

Level 15, 420 George Street, Sydney NSW 2000, Australia

1 Iron Street, Boston MA 02210, United States

20 Churchill Place, London, England, E14 5HJ, United Kingdom

Toranomon Hills Mori Tower 25F, 1-23-1 Toranomon, Minato-ku, Tokyo, 105- 6325, Japan

78 Sir John Rogerson's Quay, Dublin 2, Ireland

1 Lincoln Street, Boston MA 02111-2900, United States

Information Classification: Limited Access

		This is Annexure C referred to in Form 605 Notice of ceasing to be a	Annexure C
		substantial holder
only		Digitally signed by
	Elizabeth Schaefer
	Date: 2021.12.21
	16:24:41 -05'00'
		____________________________________ 22 December 2021
		Elizabeth Schaefer
		Authorised Signatory
		State Street Bank and Trust Company will, if requested by the company or responsible entity to whom this form must be given under the Corporations Act 2001 (Cth) or if
		requested by the Australian Securities and Investment Commission (ASIC), provide a copy of the master securities lending agreement/s and security agreement/s referred to
		below to the company, responsible entity or ASIC.
		Part A: For relevant interests arising out of lending securities - State Street Bank and Trust Company acquires relevant interest as borrower of the securities under securities
use		lending agreement, subject to obligation to return under the agreement. (State Street Bank and Trust Company has on-lent the securities and retains relevant interest as per
	Part B of this Annexure.)
	Type of agreement	Global Master Securities Lending Agreement/Master Securities Loan Agreement/Securities Loan
		Agreement
		Parties to agreement	(1) State Street Bank and Trust Company
		(2) The entity referred to in the relevant part of Annexure B to this notice
			(1) Yes (if the borrower is the registered holder. However the securities are on-lent by the borrower
		Can the parties exercise voting rights attaching to the securities?	as per Part B of this Annexure)
		(2) No, not during term of securities loan
			(1) Only if the borrower is the registered holder. However the securities are on-lent by the borrower
		If yes, in what circumstances	as per Part B of this Annexure
personal		(2) n/a
		(1) Only if the lender recalls the loan and exercises its right to become the registered holder
		Transfer date	The dates on which the securities were delivered to State Street Bank and Trust Company as borrower
			are set out in Annexure B to this notice
		Scheduled return date	No scheduled return date
		Does the borrower have the right to return the securities early?	No scheduled return date. Borrower can return securities or equivalent securities at any time subject
			to giving notice
		If yes, in what circumstances	Borrower can return securities or equivalent securities at any time subject to giving notice
		Does the lender have the right to recall the securities early (ie before the	No scheduled return date. Lender can require return of securities or equivalent securities at any time
		scheduled return date)?	subject to giving notice
		If yes, in what circumstances	Lender can require return of securities or equivalent securities at any time subject to giving notice
		Are there any circumstances in which the borrower is not required to return	No
		securities or equivalent securities on settlement?
		If yes, detail any exceptions	n/a
		Part B: For relevant interests arising out of lending securities - State Street Bank and Trust Company lends the securities under securities lending agreement, and retains
		relevant interest through the right to recall the securities or equivalent securities.
		Type of agreement	Global Master Securities Lending Agreement/Master Securities Loan Agreement
		Parties to agreement	(1) State Street Bank and Trust Company
		(2) The entity referred to in the relevant part of Annexure B to this notice
			(1) Yes, but only if the lender recalls the loan and exercises its right to become the registered holder
		Can the parties exercise voting rights attaching to the securities?	(2) Yes (while registered holder)
For	If yes, in what circumstances	(2) Borrower may exercise voting rights (while registered holder)
Transfer date	The dates on which the securities were delivered to the borrower are set out in Annexure B to this
notice
Scheduled return date	No scheduled return date
Does the borrower have the right to return the securities early?	No scheduled return date. Borrower can return securities or equivalent securities at any time subject
to giving notice
If yes, in what circumstances	Borrower can return securities or equivalent securities at any time subject to giving notice
Does the lender have the right to recall the securities early (ie before the	No scheduled return date. Lender can require return of securities or equivalent securities at any time
scheduled return date)?	subject to giving notice
If yes, in what circumstances	Lender can require return of securities or equivalent securities at any time subject to giving notice
		Are there any circumstances in which the borrower is not required to return	No
		securities or equivalent securities on settlement?
		If yes, detail any exceptions	n/a

Information Classification: Limited Access