Answer al questions related to the Santos ltd using Consolidated cash flow statement for the years of 2019,2018 and 2017

1. a) What are the major sources of cash for each firm? What are the major uses of cash for each firm?

b) What was the trend in cash flow from (continuing) operations for each firm?

c) Was the firm able to generate enough cash from operations to pay for all of its capital expenditures?

d) Did the cash flow from operations cover the dividend payment made by the firm (if any)?

f) If the firm has generated excess cash from operations, how did the firm invest the excess cash? If not, what were the sources of cash the firm used to pay for the capital expenditures and/or dividends?

g) What other major items affected cash flows for each firm?

1. i) What was the trend in capital expenditures for each firm?

2. j) What was the trend in dividends (if any) for each firm?

3. k) What was the trend in net borrowing (proceeds from borrowing less payments

   of short- and long-term debt) for each firm?

Consolidated Statement of Cash Flows for the year ended 31 December 2019 2019 US$million 2018 US$million Note 15 3,740 30 6 106 (1.816) (36) (98) (85) (194) (69) (13) 3 4 (97) 1,578 Cash flows from operating activities Receipts from customers 4,266 Interest received 37 Dividends received Pipeline tariffs and other receipts 146 Payments to suppliers and employees (1,892) Restoration expenditure (24) Exploration and evaluation seismic and studies (83) Royalty and excise paid (90) Borrowing costs paid (227) Income taxes paid (30) Royalty-related taxes paid Insurance proceeds 28 Other operating activities Net cash provided by operating activities 4.1(b) 2,046 Cash flows from investing activities Payments for: Exploration and evaluation assets (222) Oil and gas assets (619) Other land, buildings, plant and equipment (18) Acquisitions of exploration and evaluation assets (18) Acquisition of subsidiary, net of cash acquired Costs associated with acquisition of subsidiaries Proceeds from disposal of non-current assets 2.7 Proceeds from disposal of subsidiaries Net proceeds associated with disposal 18 Borrowing costs paid (15) Return of capital - investment in joint ventures Net cash used in investing activities (1,033) Cash flows from financing activities Dividends paid 2.6 (251) Drawdown of borrowings 592 Repayment of borrowings (1,474) Repayment of lease liabilities (87) Purchase of shares on-market (Treasury shares) 5.3 (31) Net cash (used in)/provided by financing activities (1,251) Net (decrease)/increase in cash and cash equivalents (238) Cash and cash equivalents at the beginning of the period 1,316 Effects of exchange rate changes on the balances of cash held in foreign currencies (11) Cash and cash equivalents at the end of the period 1,067 The Consolidated Statement of Cash Flows is to be read in conjunction with the notes to the consolidated financial statements. (66) (490) (10) (10) (1,933) (10) 26 126 10 13 (2.373) (73) 1,193 (220) (10) 890 95 1,231 (10) 4.1 1,316 Consolidated Statement of Cash Flows for the year ended 31 December 2018 Consolidated Statement of Changes for the year ended 31 December 2018 Equity attrib 2018 US$million $ 2017 US$million Note 3,740 Issued Translation Hedgin capital reserve resen Note US$million US$million US$millia 3,217 12 66 (1,611) (37) (71) (57) (254) (28) (15) 26 1,248 (146) (483) (5) (49) Cash flows from operating activities Receipts from customers Dividends received 6 Pipeline tariffs and other receipts 106 Payments to suppliers and employees (1,816) Restoration expenditure (36) Exploration and evaluation seismic and studies (98) Royalty and excise paid (85) Borrowing costs paid (194) Income taxes paid (69) Royalty-related taxes paid (13) Other operating activities 37 Net cash provided by operating activities 41(b) 1,578 Cash flows from investing activities Payments for: Exploration and evaluation assets (66) Oil and gas assets (490) Other land, buildings, plant and equipment (10) Acquisitions of oil and gas assets (10) Acquisition of subsidiary, net of cash acquired 6.2(a) (1,933) Costs associated with acquisition of subsidiaries (10) Proceeds from disposal of non-current assets 2.7 26 Proceeds from disposal of subsidiaries 6.2(b) 126 Borrowing costs paid (6) Other investing activities Net cash used in investing activities (2,373) Cash flows from financing activities Dividends paid (73) Drawdown of borrowings 1,193 Repayment of borrowings (220) Net proceeds from issues of ordinary shares Purchase of shares on-market (Treasury shares) (10) Net cash provided by/(used in) financing activities 890 Net increase/(decrease) in cash and cash equivalents 95 Cash and cash equivalents at the beginning of the period 1,231 Effects of exchange rate changes on the balances of cash held in foreign currencies (10) Cash and cash equivalents at the end of the period 4.1 1,316 The consolidated statement of cash flows is to be read in conjunction with the notes to the consolidated financial statements. !"fallzeer speegense' EI' &*q@ Balance at 1 January 2017 8,883 (830) Transfer retained profits to accumulated profits reserve 5.4 Items of comprehensive income Loss for the period Other comprehensive income/loss) for the period 302 Total comprehensive income/(loss) for the period 302 Transactions with owners in their capacity as owners Shares issued 5.3 151 On-market share purchase (Treasury shares) 5.3 (8) Share-based payment transactions 7.2 8 Balance at 31 December 2017 9,034 (528) Balance at 1 January 2018 9,034 (528) Transfer retained profits to accumulated profits reserve 5.4 Items of comprehensive income Profit for the period Other comprehensive (loss)/income for the period (437) Total comprehensive (loss)/income for the period (437) Transactions with owners in their capacity as owners Dividends paid 2.6 On-market share purchase (Treasury shares) 5.3 (10) Share-based payment transactions 7.2 7 Balance at 31 December 2018 9,031 (965) The consolidated statement of changes in equity is to be read in conjunction with the 145 (6) 10 (534) 783 (2.442) 149 (8) (1,518) (804) 2.026 9 1,231