SRI roadshow

March/April 2016

bp.com/sri

Forward-looking statements - cautionary statement

In order to utilize the ‘Safe Harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the “PSLRA”), BP is providing the following cautionary statement.

The presentations and the associated slides and discussion contain certain forecasts, projections and forward-looking statements – that is, statements related to future, not past

events – with respect to the financial condition, results of operation and businesses of BP and certain of the plans and objectives of BP with respect to these items. In particular,

among other statements, certain statements regarding BP’s strategy, capital expenditure, cash costs, gearing, longer term growth prospects and certain of the expectations,

intentions, plans and objectives of BP with respect to these items, ; as well as expectations regarding BP’s increasing bias to gas and expectations regarding divestments and

statements regarding future global energy trends and oil price and the effect of a carbon price, are all forward looking in nature.

By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will or may occur in the future and are

outside the control of BP. Actual results may differ materially from those expressed in such statements, depending on a variety of factors, including the timing of the receipt of

relevant third party and/or regulatory approvals; the timing and level of maintenance and/or turnaround activity; the timing and volume of refinery additions and outages; the timing of

bringing new fields onstream; the timing, quantum and nature of certain divestments; future levels of industry product supply, demand and pricing, including supply growth in North

America; OPEC quota restrictions; PSA effects; operational problems; economic and financial market conditions generally or in various countries and regions; political stability in

relevant areas of the world; changes in laws and governmental regulations; changes in sanctions and other trade restrictions; regulatory or legal actions including the types of

enforcement action pursued and the nature of remedies sought or imposed; the actions of prosecutors, regulatory authorities and courts; the impact on our reputation following the

Gulf of Mexico oil spill; the actions of the Claims Administrator appointed under the Economic and Property Damages Settlement; the actions of all parties to the Gulf of Mexico oil

spill-related litigation at various phases of the litigation; exchange rate fluctuations; development and use of new technology; the success or otherwise of partnering; the actions of

competitors, trading partners, creditors, rating agencies and others; decisions by Rosneft’s management and board of directors in respect of strategy, operations or otherwise; the

actions of contractors; natural disasters and adverse weather conditions; changes in public expectations and other changes to business conditions; wars and acts of terrorism, cyber-

attacks or sabotage; and other factors discussed under “Risk factors” in our Annual Report and Form 20-F 2015 as filed with the US Securities and Exchange Commission (SEC).

Cautionary note to US investors – This presentation contains references to non-proved resources and production outlooks based on non-proved resources that the SEC’s rules

prohibit us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosures in our Form 20-F, SEC File No. 1-06262. This form is available on our

website at www.bp.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or by logging on to their website at www.sec.gov.

Tables and projections in this presentation are BP projections unless otherwise stated.

Stock Exchange Announcement: For further information on BP’s results, please see our Stock Exchange Announcement for the period ended 31 December 2015.

March 2016

Cautionary statement

3

Overview of current business environment

Short-medium term – oil price

• Lower for longer, but not forever

Long term – Energy consumption increase

• 34% increase 2014 – 2035

• Fossil fuels provide ~60% of growth

4

Overview of current business environment

We are taking action to

adapt to a lower oil and

gas price environment –

while maintaining longer-

term growth prospects

How we are resilient

• Integrated business

• Balanced portfolio

• Balance sheet

flexibility

0

10

20

30

2013 2014 2015 2016

3

6

9

12

15

18

2010 2011 2012 2013 2014 2015

5

• Right-size the organisation

• Reduce third party spend

• Deflation across contracts

• Efficiency of scope and delivery

• Influence partner-operated spend

• No compromise on safety

(1) At year-end; excludes equity-accounted entities and Upstream badged integrated

supply & trading staff

(2) Excludes equity-accounted entities; includes fuel gas; gas production converted at

5.8bcf of natural gas to 1 million barrels of oil equivalent

Upstream Headcount(1)

Agency

Employees

‘000

Production cost per barrel(2)

$/boe

BP

XOM

RDS

CVX

TOT

Simplification – not compromising safety

6

Recordable injury frequency

BP Group

International Association of Oil & Gas

Producers benchmark

American Petroleum Institute

US benchmark

Loss of Primary Containment (LOPC)

and Process Safety Events (PSE)

(1) Frequency of recordable work-related injuries per

200,000 recorded hours worked

LOPC excl. L48 Tier 1 PSE

Tier 2 PSE LOPC US L48

Nu

mb

er o

f in

stan

ces

Safety and environmental performance

Greenhouse gas emissions

0

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

Million tonnes of CO2 equivalent

7

Key sustainability issues

Engage Define Assess

8

Resolution response

• Filed at 2015 AGM by a coalition of

shareholders, requesting to report

more on BP’s preparation for a

lower-carbon future.

• Supported by the board and 98% of

shareholders that voted.

• Response integrated into BP’s

existing reporting portfolio.

9

BP is playing its part by:

• Calling for a price on carbon.

• Supplying natural gas.

• Investing in renewables.

• Pursuing energy efficient

operations and products.

• Supporting research and

partnerships.

The energy challenge and climate change

10

Portfolio resilience

• A balanced portfolio

with flexibility

• Dynamic investment

strategy

• Climate change

adaption

Making sure our business is sustainable –

commercially, environmentally and in a lower-carbon future.

11

Human rights – progress in 2015

Implementing BP’s human rights policy;

• Human rights clauses in contract templates

used by our main procurement groups

• Developed standard set of questions that

can be used to help screen suppliers

• Reviewing new and emerging legislation

and requirements

− e.g. 2015 UK Modern Slavery Act

12

Remuneration

2016 2015 Q4 Q3 Q2

13

SRI annual meeting SRI

webcast

SRI

roadshow

Key SRI engagement – 2015/16

**Tangguh Independent Advisory Panel

IIGCC* meeting IIGCC meeting

AGM Oil and Gas

Climate Initiative

(OGCI) report Annual Report

Technology

Outlook

Energy Outlook

Sustainability Report

IPIECA Paris Puzzle

TIAP**

*Institutional Investors Group on Climate Change

Qs and As