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RNS Number : 1301H  BP PLC  01 May 2025

BP p.l.c.

Notification of transactions of persons discharging managerial responsibility
or connected persons

EDIP performance shares 2025-2027 award

BP p.l.c. (the "Company") announces that, on 30 April 2025, conditional
performance share awards (the "Awards") were made under the bp Executive
Directors' Incentive Plan (the "Plan"). The Awards were made in accordance
with the rules of the Plan and the 2023 directors' remuneration policy (the
"Policy") and as provided for in the 2024 directors' remuneration report (the
"Report"), which were approved by shareholders on 27 April 2023 and 17 April
2025 respectively.

Level of award

The Remuneration Committee (the "Committee") has made these Awards at 500% of
base salary for the chief executive officer and 450% for the chief financial
officer, in line with the Policy. In calculating the number of bp shares over
which these Awards have been made, the Committee has applied the average price
of bp shares over the 90 calendar days up to and including the annual general
meeting that was held on 17 April 2025 (£4.21).

The Committee retains absolute discretion to adjust the formulaic outcome at
the time of vesting of the Awards should it not reflect the shareholder
experience over the performance period or be otherwise inconsistent with the
size of the Award.

Performance conditions

As set out in the Policy and Report, Awards will vest subject to performance
against a combination of the following financial and strategic measures:

·    Relative total shareholder return (25%) assessed against a
benchmarking group, comprising Chevron, Eni, Equinor, ExxonMobil, Repsol,
Shell and TotalEnergies;

·    Return on average capital employed (20%);

·    Adjusted free cash flow compound annual growth rate per share (20%);

·    Cumulative reduction percentage in operated carbon emissions (15%);
and

·    Strategic progress (20%), where consideration may be given to the
following measures and a holistic review by the Committee of progress against
strategy set out in the Capital Markets Update in February 2025:

o  Divestments

o  Net debt

o  Structural cost reduction.

Number of shares subject to award

 Name                Award
 Murray Auchincloss  1,790,973 ordinary shares
 Kate Thomson        923,515 ordinary shares

 

These awards will vest in three years and in proportion to the outcomes
measured through the performance scorecard, with a holding period that
requires the shares to be retained for a further three years. The executive
directors will be entitled to the value of reinvested dividends on those
ordinary shares which vest.

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Murray Auchincloss
 2   Reason for the notification
 a)  Position/status                                              Chief executive officer / Director
 b)  Initial notification/Amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         BP p.l.c.
 b)  LEI                                                          213800LH1BZH3DI6G760
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of $0.25

     Identification code                                          GB0007980591
 b)  Nature of the transaction                                    1,790,973 performance share units (in the form of ordinary shares) awarded
                                                                  under the bp Executive Directors' Incentive Plan.
 c)  Price(s) and volume(s)

Price(s)           Volume(s)
                                                                  Nil consideration  1,790,973
 d)  Aggregated information

     -      Volume                                                1,790,973

     -      Price                                                 Nil consideration. Market value £4.21

     -      Total                                                 Nil consideration. Market value £7,539,996.33
 e)  Date of the transaction                                      30 April 2025
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-      Volume

 

-      Price

 

-      Total

 

1,790,973

 

Nil consideration. Market value £4.21

 

Nil consideration. Market value £7,539,996.33

e)

Date of the transaction

30 April 2025

f)

Place of the transaction

Outside a trading venue

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Kate Thomson
 2   Reason for the notification
 a)  Position/status                                              Chief financial officer / Director
 b)  Initial notification/Amendment                               Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         BP p.l.c.
 b)  LEI                                                          213800LH1BZH3DI6G760
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of $0.25

     Identification code                                          GB0007980591
 b)  Nature of the transaction                                    923,515 performance share units (in the form of ordinary shares) awarded under
                                                                  the bp Executive Directors' Incentive Plan.
 c)  Price(s) and volume(s)

Price(s)           Volume(s)
                                                                  Nil consideration  923,515
 d)  Aggregated information

     -      Volume                                                923,515

     -      Price                                                 Nil consideration. Market value £4.21

     -      Total                                                 Nil consideration. Market value £3,887,998.15
 e)  Date of the transaction                                      30 April 2025
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-      Volume

 

-      Price

 

-      Total

 

923,515

 

Nil consideration. Market value £4.21

 

Nil consideration. Market value £3,887,998.15

e)

Date of the transaction

30 April 2025

f)

Place of the transaction

Outside a trading venue

 

This notice is given in fulfilment of the obligation under Article 19 of the
Market Abuse Regulation.

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