BP PLC

We considered the impact of potential changes in supply and demand on the group’s refining portfolio and assessed internal and external market studies

of future supply and demand. In relation to refinery impairment tests performed by management, our audit procedures included:

•Evaluating the valuation methodology and testing the integrity and mechanical accuracy of the impairment models;

•Assessing the appropriateness of key assumptions and inputs to the impairment models, notably forecast refining margins, discount rate and energy

input costs, challenging and evaluating management’s assumptions by reference to third party data where available and involvement of our valuation

specialists; and

•Evaluating management’s ability to forecast future cash flows and margins by comparing actual results with historical forecasts and tested

management’s internal controls over the impairment test and related inputs.

/s/ Deloitte LLP

London

We have served as bp’s auditor since 2018.

Financial statements