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.

During the first quarter 2025, the Archaea Energy business was moved from the customers & products segment to the gas & low carbon energy

segment. The change in segmentation is consistent with a change in the way that resources are allocated, and performance is assessed by the

chief operating decision maker, who for bp is the group chief executive.

Comparative information for 2024 has been restated where material to reflect the changes in reportable segments. For further information see

Note 5.