Ann: WA-488-P Beehive Work Program Approval, page-2

Highlights:

• Regulator grants approval of application to suspend deadline for completion of current permit year’s work program to support potential drilling of first exploration well in the WA-488-P Permit

• Beehive 3D Seismic Survey recently completed

• Total and/or Santos each have option to drill first well in permit

• If Total and/or Santos exercises options to drill, Melbana retains 20% and is fully carried

• Giant Beehive Prospect assessed by Independent Expert McDaniel & Associates to contain a best estimate prospective resource of 388 million barrels of oil equivalent2,3 , one of the largest undrilled hydrocarbon prospects in Australia