Oil Search : Update with FX Rates - Dividend/Distribution – OSH

Notification of dividend / distribution

Update Summary

Entity name

OIL SEARCH LIMITED

Security on which the Distribution will be paid

OSH - 10 TOEA ORDINARY FULLY PAID

Announcement Type

Update to previous announcement

Date of this announcement

Friday September 8, 2017

Reason for the Update

Advising exchange rates used for converting the US dollar 2017 half year dividend into the payment currencies.

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Advising exchange rates used for converting the US dollar 2017 half year dividend into the payment currencies.

OSH

ASX +Security Description

10 TOEA ORDINARY FULLY PAID

Part 2A - All dividends/distributions basic details

2A.1 Type of dividend/distribution

Ordinary

2A.2 The Dividend/distribution:

relates to a period of six months

2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)

Friday June 30, 2017

2A.4 +Record Date

Wednesday September 6, 2017

2A.5 Ex Date

Tuesday September 5, 2017

2A.6 Payment Date

Tuesday September 26, 2017

2A.7 Are any of the below approvals required for the dividend/distribution before business day 0 of the timetable?

Security holder approval Court approval

Lodgement of court order with +ASIC ACCC approval

FIRB approval

Another approval/condition external to the entity required before business day 0 of the timetable for the dividend/distribution.

No

2A.8 Currency in which the dividend/distribution is made ("primary currency")

USD - US Dollar

2A.9 Total dividend/distribution payment amount per +security (in primary currency) for all dividends/distributions notified in this form

USD 0.04000000

2A.9a AUD equivalent to total dividend/distribution amount per +security 0.04961600

2A.9b If AUD equivalent not known, date for information to be released

Friday September 8, 2017

2A.9c FX rate (in format AUD 1.00 / primary currency rate): AUD

AUD 1.00

Estimated or Actual?

Actual

FX rate (in format AUD rate/primary currency rate) Primary Currency rate

USD 0.80620000

2A.10 Does the entity have arrangements relating to the currency in which the dividend/distribution is paid to securityholders that it wishes to disclose to the market?

Yes

2A.11 Does the entity have a securities plan for dividends/distributions on this +security?

We have a Dividend/Distribution Reinvestment Plan (DRP)

2A.11a If the +entity has a DRP, is the DRP applicable to this dividend/distribution?

No

2A.12 Does the +entity have tax component information apart from franking?

Yes

2A.13 Withholding tax rate applicable to the dividend/distribution

15.000000

Part 2B - Currency Information

2B.1 Does the entity default to payment in certain currencies dependent upon certain attributes such as the banking instruction or registered address of the +securityholder? (For example NZD to residents of New Zealand and/or USD to residents of the U.S.A.).

Yes

2B.2 Please provide a description of your currency arrangements

The dividend will be paid in PNG Kina for those shareholders domiciled in Papua New Guinea, in GB Pounds for those shareholders that have lodged direct credit details requesting a GB Pounds credit, in US Dollars for those shareholders that have lodged direct credit details requesting US Dollars and in Australian dollars for all other shareholders.

2B.2a Other currency/currencies in which the dividend/distribution will be paid:

2B.2b Please provide the exchange rates used for non-primary currency payments

The exchange rates used for converting the US dollar dividend into the payment currencies will be:

GBP1.00 = USD1.3132 PGK1.00 = USD0.3125

2B.2c If payment currency equivalent and exchange rates not known, date for information to be released

Friday September 8, 2017

Estimated or Actual?

Actual

2B.3 Can the securityholder choose to receive a currency different to the currency they would receive under the default arrangements?

No

Part 3A - Ordinary dividend/distribution

3A.1 Is the ordinary dividend/distribution estimated at this time?

No

3A.1b Ordinary Dividend/distribution amount per security

USD 0.04000000

3A.2 Is the ordinary dividend/distribution franked?

No

3A.3 Percentage of ordinary dividend/distribution that is franked 0.0000 %

3A.4 Ordinary dividend/distribution franked amount per +security

USD 0.00000000

3A.6 Ordinary dividend/distribution unfranked amount per +security excluding conduit foreign income amount

USD 0.04000000

Part 3E - Other - distribution components / tax

3A.1a Ordinary dividend/distribution estimated amount per +security

USD

3A.5 Percentage amount of dividend which is unfranked

100.0000 %

3E.1 Please indicate where and when information about tax components can be obtained (you may enter a url).

PNG dividend withholding tax may be creditable for some shareholders in certain circumstances. However, shareholders are advised to seek independent tax advice to confirm their individual tax outcomes.

Part 5 - Further information