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Santos refers to its announcement of 2 August regarding Santos and Oil Search entering into confidentiality agreements and a period of exclusive mutual due diligence regarding the proposed merger of the two companies via a scheme of arrangement under which Santos would acquire all of the shares in Oil Search for a consideration of 0.6275 new Santos shares for each Oil Search share held.

Santos and Oil Search have agreed to extend the exclusive due diligence period for a further one week to 13 September 2021.