BP PLC

For acquisitions and organic capital

investments above defined financial

thresholds, investment approval is conducted

through the executive-level resource

commitment meeting (RCM), which is chaired

by the chief executive officer. The RCM reviews

the merits of each investment case against a

balanced set of criteria (seepage 22) and

considers any key issues raised in the

assurance process.

The CA100+ resolution« requires bp to

disclose how we evaluate the consistency of

new material capex investments« with (i) the

Paris goals and (ii) a range of other outcomes

relevant to bp’s strategy.

bp’s evaluation of the consistency of such

investments with the Paris goals was

undertaken by the RCM for new material capex

investments sanctioned in 2025 (seepage 23).

bp’s evaluation of an investment’s consistency

with ‘a range of other relevant outcomes’ is

achieved by considering its merits against bp’s

balanced investment criteria, described on

page 22.

bp boardReviews and approves investment cases of more than $3 billion for resilient hydrocarbons, more than $1 billion for all transition or low carbon investments« and any significant inorganic acquisition that is exceptional or unique in nature.

Resource commitment meetingForum for executive management’s review and approval of investments related to existing and new lines of business above $250 million, or $25 million for acquisitions, or which exceed the relevant EVP’s financial authority, and any project considered strategically important such as a new market entry.

Investment allocation committeesEVP-level forums to review and approve investment cases within a business group as per individual EVP financial authority (up to $250 million, or typically $25 million for acquisitions).

Business group investment governance meetingsSVP-level forums that review and approve investment cases within a business group or function, up to the individual SVP’s financial authority.

Cross-group meetingsForums that facilitate discussions across businesses and functions, to support project development, sensitivity analysis, integration opportunities and risk assessment ahead of investment committee meetings.