BP PLC

For our investment economics and sustainability

investment criteria we considered quantitative

guide levels, as set out below, to inform the

evaluation of each investment’s consistency with

the goals of the Paris Agreement. For evaluations

in 2024 we used the central price IRR and other

economic hurdles as set out in thebp Annual

Report and Form 20-F 2023 (page 32). As in

previous years, we reduced our operational

carbon intensity« guide levels, in line with our

decreasing portfolio average. As our approach

matures with experience, we may continue to

adjust or supplement our methodology. There

may be instances when new material capex

investments are evaluated as consistent with

the Paris goals despite either the economic or

sustainability guide levels not being met. The

RCM may also take account, in its Paris

consistency evaluation, of the six balanced

investment criteria using qualitative

assessments.