BP PLC

The group’s operating segments are established on the basis of those components of the group that are evaluated regularly by the chief executive officer,

bp’s chief operating decision maker, in deciding how to allocate resources and in assessing performance.

The accounting policies of the operating segments are the same as the group’s accounting policies described in this note, except that IFRS requires that

the measure of profit or loss disclosed for each operating segment is the measure that is provided regularly to the chief operating decision maker. For bp,

this measure of profit or loss is replacement cost profit before interest and tax which reflects the replacement cost of inventories sold in the period and is

arrived at by excluding inventory holding gains and losses from profit before interest and tax. Replacement cost profit for the group is not a recognized

measure under IFRS.

For further information see Note 5.