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2021 Sustainability Report 3

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2021 Sustainability Report 3 1 2021 Sustainability Report 3 Contents CEO statement We acknowledge the Traditional Owners It is with great pleasure that I present the 2021 of the land on which our operations exist 3 CEO statement Santos Sustainability Report, demonstrating how and on which we work. We recognise their the principles of sustainability are critical to 4 About us the way that we operate our business and deliver continuing connection to land, waters on our Transform-Build-Grow strategy. and culture. We pay our respects to their 7 Our approach to sustainability Elders past, present and emerging. As Australia’s biggest domestic gas supplier and a leading 7 Our sustainability pillars Asia-Pacific LNG supplier, Santos has improved the lives of people throughout Australia and Asia for more santos.com/sustainability/ Governance and than 50 years. Our values drive everything we do, as we 9 build a better future for our customers, employees and management approaches the communities in which we operate. With significant expansion in recent years, this responsibility grows even As a major fuels producer for the Asia-Pacific region, 12 Structure of this report greater. Santos assets span across Australia, Papua Santos has an important global role to play in a sustainable New Guinea and Timor-Leste, with our focus continuing world. We are committed to realising a global future where 13 Economic sustainability to be on safely providing cleaner, reliable, low-cost temperature increase is limited to below 2 degrees Celsius, fuel products. while reliable and affordable energy continues to power 17 Health and safety domestic and global markets. Delivery of this vision is underpinned by a relentless focus on preventing harm to 24 Climate change people and the environment, and working in partnership Realising a better future with the communities in which we operate. 29 Environment demands that we operate The impact of the COVID-19 pandemic has given delivery of Santos’ strategy even greater relevance. 34 Community and supply chain sustainably and meet the The response of our business has highlighted the needs and expectations of our strength of our values and resilience of our organisation, 43 Indigenous partnerships maintaining operations and keeping our employees safe. communities and stakeholders. Now as the world establishes a pathway to recovery, 48 People and culture Sustainability is core not just to cleaner fuels are acknowledged as central to a low- carbon future and Santos is committed to doing this 53 Appendix 1 Case studies our values but drives our long in the most sustainable way possible. 68 Appendix 2 Summary data tables term performance as a business. Our performance shows that we are a reliable and resilient fuel producer of choice, through varying market cycles. Our disciplined operating model provides the Within this report we describe how our company is framework for us to deliver on our commitments structured to meet these needs. Our performance in a responsible and sustainable manner. against published aspirations and targets are aligned to We are proud to demonstrate our commitments and Front cover our seven sustainability pillars: economic sustainability, actions through this report. Moomba Gas Plant, South Australia health and safety, climate change, environment, community and supply chain, Indigenous partnerships, and people and culture. In recognition of our core value to ‘pursue exceptional results’, we are committed to KEVIN GALLAGHER Disclaimer: This report contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations continually making progress on the aspirations and Managing Director and Chief Executive Officer reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, gas commercialisation, development targets we have set for each of these pillars, and April 2021 progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and maturing the way in which we report. regulatory developments, economic and financial market conditions in various countries, approvals and cost estimates. The report does not purport to represent the views of Santos’ joint venture partners across operated or non-operated assets. All references to dollars, cents or $ in this document are to Australian currency, unless otherwise stated. References to community contributions [and any other relevant areas] may reflect gross joint venture spend. 4 Santos 2021 Sustainability Report About us 5 Dili Papua New Guinea About us PNG LNG Port Moresby Timor-Leste Barossa BAYU-UNDAN Santos Darwin DLNG locations Dorado BARROW ISLAND VARANUS ISLAND NINGALOO Dampier DEVIL CREEK PYRENEES MACEDON Gladstone GLNG ARCADIA FAIRVIEW SCOTIA ROMA Roma WALLUMBILLA BALLERA Brisbane MOOMBA Australia Narrabri NARRABRI Office locations WILGA PARK BIBBLEWINDI LEEWOOD Perth Operated facilities PORT BONYTHON Non-operated facilities Sydney Planned project location Adelaide Canberra Planned carbon capture and storage Santos operated production acreage Melbourne Non-operated production acreage Santos operated exploration acreage Non-operated exploration acreage Oil pipelines 0 250 500 1000 Hobart Gas pipelines KM 6 Santos 2021 Sustainability Report About us 7 About us Our approach to sustainability A sustainable future depends on Australian natural gas, and + Be a leading regional supplier of premium, low-sulphur A proudly Australian company, Santos is a leading supplier of natural gas, a fuel Santos is playing an important role in securing Australia’s crude and condensate to Australian and Asian customers. for the future, providing cleaner fuels to improve the lives of people in Australia economic, environmental and energy security future for + Be recognised as Australia’s safest, most reliable and and Asia. Santos is already Australia’s biggest domestic gas supplier, a leading generations to come. We are committed to the objective lowest cost developer and operator of upstream and Asia-Pacific liquefied natural gas (LNG) supplier and aims to be a world-leading of limiting global temperature rise to less than 2 degrees midstream oil and gas facilities and infrastructure. Celsius, whilst providing access to reliable and affordable + Contribute positively to the communities where we clean fuels company, achieving net-zero emissions by 2040. Santos is a top-30 fuels to domestic and global markets. ASX-listed company and has a direct workforce of over 2700 people, and supports operate by providing jobs and local partnerships. almost 3000 contractors. At Santos, we are dedicated to being the safest oil and gas + Develop our people and culture to deliver our vision. operator in Australia and preventing harm to people and Our purpose the environment. To do this, we responsibly manage our environmental impact and work in partnership with the At Santos, we have identified seven sustainability Our purpose is to provide sustainable returns for our shareholders by supplying reliable, affordable and cleaner fuels to communities in which we operate. We are always focused on pillars that underpin delivery of our strategy improve the lives of people in Australia and Asia. the health, safety and well-being of our people, and reliably and are essential to achieving this vision. managing our business across all of our operations. They provide a framework to reflect our Our vision sustainability aspirations and targets, to guide Our vision is to be Australia’s leading natural gas company by 2025. Our strategy to Transform, Build and Grow is positioning the our performance and to manage issues that business to achieve our vision to be Australia’s leading natural are material to our business. Our values gas company by 2025. To deliver this vision, we aim to: Our values inform the behaviours, leadership attributes and decision-making of all Santos employees. These values are: + Reduce emissions and improve air quality across Asia Santos recognises the 17 United Nations Sustainable and Australia, by displacing coal with natural gas and Development Goals (UN SDGs), which seek to address supporting the economic development of combined the world’s biggest challenges, including ending poverty, Work as one team Always safe gas, clean fuels and carbon capture and storage improving health and education, and providing universal (CCS) solutions. access to sustainable energy. More information about the 17 + Value diverse perspectives + Plan work to protect all from harm + Be the leading national supplier of domestic gas UN SDGs and their associated global targets and indicators + Challenge respectfully then get behind + Be skilled and competent in Australia. is available at the United Nations Development Programme - the decision + Understand the risks, controls and barriers + Be a leading regional LNG supplier by increasing LNG Sustainable Development Goals webpage. sales to our Asian customers to over 4.5 million tonnes + Unite and share learnings + Follow the rules and respond to change per annum. Within each of the Santos seven sustainability pillars, + Speak up we have identified where we aspire to align our business + Step back, think and be ready practices to the most relevant UN SDGs.
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