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Notice of BP AnnualGeneral Meeting2011 bp.com/agm
1 Chairman’s letter
2 Notice of meeting2 Notice of meeting and resolutions to be proposed 4 Notes on resolutions
12 Shareholder notes12 Ordinary and preference shareholders 12 Corporate representatives 13 ADR holders 13 Employee share plan participants 13 Indirect investors
14 The meeting at ExCeL14 How business is conducted at the meeting 15 Getting to the AGM 16 Key information and contacts
Annual General Meeting Thursday, 14 April 2011 11.30 a.m. ExCeL London
This document is important and requires your immediate attentionIf you are in any doubt about the action you should take, you should consult an appropriate independent financial adviser. If you have recently sold or transferred your shares in BP p.l.c. you should forward this document to your bank, stockbroker or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.
The registered office of BP p.l.c. is 1 St James’s Square, London SW1Y 4PD, UK.Tel +44 (0)20 7496 4000.Registered in England and Wales No. 102498.
There are several other large events taking place at ExCeL at the same time as the BP AGM, so public transport may be busy. Please allow plenty of time to arrive at the venue prior to the start of the meeting. If you are travelling by DLR and Custom House DLR station is congested, while it is a longer walk, Prince Regent DLR station can be used as an alternative entrance to ExCeL.
AGM webcast
If you are unable to come to the AGM you can watch via our webcast.
The AGM will be filmed and broadcast on the day to shareholders via a webcast, which can be viewed at www.bp.com/agm/webcast. You can also watch an edited recording of the AGM afterwards at www.bp.com. The webcast may include the question and answer sessions with shareholders, as well as background shots of those present in the auditorium. We have also arranged for photographs to be taken throughout the premises for the duration of the event for BP’s photo library. These photographs may be used in future publications online or in print. If you attend the AGM in person, you may be included in photographs or in the webcast. Please note that the photographs and broadcast footage may be transferred outside the European Economic Area.
Webcastbp.com/agm/webcast
Getting to the AGM
Large print
If you require a large-print version of this Notice, please call our Registrar, Equiniti, on freephone 0800 701 107 or +44 (0)121 415 7005 from outside the UK. Copies are also available at the AGM at Registration, together with a large-print version of the poll card.
NoticeofBPAnnualGeneralMeeting2011 1
Carl-Henric SvanbergChairman25February2011
Yourparticipationisalwaysimportant,butthetoughissuesfacedbyBPin2010addfurtherweighttoyourinvolvementandsupportthisyear.IwouldliketoencourageeveryshareholdertotakepartinthevotingattheAGM.
Iinviteyoutojoinmeatthe102ndBPAnnualGeneralMeeting.OurmeetingwilltakeplaceatExCeLLondononThursday,14April2011,startingat11.30a.m. 2010wasoneofthemosttestingperiodsinthelonghistoryofourcompany.Ifullyunderstandthattheboard’sdecisiontocancelthedividendwasparticularlyhardforourshareholders,especiallyasmanyofyouhavereliedonBPtoprovideasteadyreturnformanyyears.Thisdifficultmatterwasgivenverycarefulconsideration.Ultimately,wedecidedthatthismeasurewasnecessarytohelpthecompanynavigatesomedifficultandunpredictabletimes. Iampleasedthatwehavebeenabletoresumedividendpayments.Ourgoalistocreatelong-termvalueforyou,andthisisthefirststeponthewaytodeliveringthatreturn.TheScripDividendProgrammeapprovedlastyearisinoperationonceagain,andthispresentsanopportunitytotakeyourdividendinsharesratherthancash. Ithankthoseofyouwhowrotetomewithyourthoughtsoverthepast12months–Ivaluethis.Duringtheyearwesoughttoprovideshareholderswithclear,accurateandhelpfulinformationatkeypointsintime.GiventhespeedatwhicheventsintheGulfofMexicounfolded,andtheintensemediaattentionfocusedonourresponse,thiswasnotalwayssimpletoachieve.Thewebprovedhelpfulasawaytoreachyou,anditisnowourprimarychannelofshareholdercommunication.Ourwebsite,www.bp.com,willcontinuetoprovideyouwithtimelyupdatesonthecompanyanditsactivities,includingourongoingresponseintheGulfofMexico. IntheBP Annual Report and Form 20-F 2010,wedescribethekeyeventsoftheyear,theireffectsonus,andourwide-rangingresponse.Youcandownloadthesedocumentsfromwww.bp.com/annualreport.Thismayhelptoanswersomeofyourquestionsabouttheboard,itsactivitiesanditsmeetings. OverthefollowingpagesyouwillfindtheNoticeofMeeting,togetherwithnotesexplainingthebusinesstobeconsideredontheday.ThefirstitemisourdiscussionofBP’sperformancelastyear.Wewillalsodiscusstheelectionofourthreenewdirectors,there-electionofexistingdirectors,andtheremunerationreport.Youwillfindbiographiesofourdirectorsonpages4to8. Thisyearweseektorenewthelimitedauthorityfromshareholderstomakepoliticaldonations.Wehavesetoutthebackgroundtothisresolutioninthenotes.BPdoesnotmakepoliticaldonations.However,awiderangeofactivitiescouldfallwithintheverybroaddefinitionof‘politicaldonations’setoutintherelevantUKlegislation,therefore,companiesregularlyseekauthorityoutofcaution.Thisyearwealsoseektheauthoritytocontinuetooperatetwoshareplansforthebenefitofouremployees.Theseplanswerefirstsanctioned10yearsago. LastyearanumberofshareholdersaskedwhethertheseannualmeetingscouldbemovedbacktocentralLondon.Wespentsometimeconsideringothervenues.Weneededtobesatisfiedthatanyalternativelocationcouldproperlyaccommodateboththesizeofourmeetingandtheneedsofthoseattending,whileprovidingasafeandsecuresetting.Giventhatmoreshareholdersthannormalareexpectedtoattendthisyear,webelieveExCeLLondonremainsthebestlocationforourAGMthisyearand,inalllikelihood,forseveralyearstocome. Yourparticipationisalwaysimportant,butthetoughissuesfacedbyBPin2010addfurtherweighttoyourinvolvementandsupportthisyear.IwouldliketoencourageeveryshareholdertotakepartinthevotingattheAGM.Voteswillbetakenbywayofapoll.Thismeansthatthevotesofallshareholderscount,whethertheyattendthemeetingornot.DetailsofhowyoucanvoteappearinthisNotice.Irecommendthatyousupportalloftheresolutionsputbeforeyou. Onbehalfoftheboard,IlookforwardtowelcomingyoutoBP’sAnnualGeneralMeeting2011.
Chairman’s letter
2 NoticeofBPAnnualGeneralMeeting2011
Notice of meeting and resolutions to be proposed
Resolution 1 – Report and accountsToreceivethereportofthedirectorsandtheaccountsfortheyearended31December2010.Seenotesonpage4.
Resolution 2 – Directors’ remuneration reportToapprovethedirectors’remunerationreportfortheyearended31December2010.Seenotesonpage4.
Resolution 3Tore-electMrPMAndersonasadirector.Seebiographyonpage4.
Resolution 4Tore-electMrABurgmansasadirector.Seebiographyonpage5.
Resolution 5Tore-electMrsCBCarrollasadirector.Seebiographyonpage5.
Resolution 6Tore-electSirWilliamCastellasadirector.Seebiographyonpage5.
Resolution 7Tore-electMrICConnasadirector.Seebiographyonpage6.
Resolution 8Tore-electMrGDavidasadirector.Seebiographyonpage6.
Resolution 9Tore-electMrIELDavisasadirector.Seebiographyonpage6.
Resolution 10Tore-electMrRWDudleyasadirector.Seebiographyonpage7.
Resolution 11Tore-electDrBEGroteasadirector.Seebiographyonpage7.
Resolution 12ToelectMrFLBowmanasadirector.Seebiographyonpage7.
NoticeisherebygiventhattheonehundredandsecondAnnualGeneralMeetingofBPp.l.c.(‘BP’orthe‘company’)willbeheldatExCeLLondon,OneWesternGateway,RoyalVictoriaDock,LondonE161XL,UnitedKingdom,onThursday,14April2011,commencingat11.30a.m.,forthetransactionofthefollowingbusiness.
Resolution 13ToelectMrBRNelsonasadirector.Seebiographyonpage8.
Resolution 14ToelectMrFPNhlekoasadirector.Seebiographyonpage8.
Resolution 15Tore-electMrC-HSvanbergasadirector.Seebiographyonpage8.
Resolution 16 – Reappointment of auditorsToreappointErnst&YoungLLPasauditorsfromtheconclusionofthismeetinguntiltheconclusionofthenextgeneralmeetingbeforewhichaccountsarelaidandtoauthorizethedirectorstofixtheauditors’remuneration.Seenotesonpage9.
Resolution 17 – Share buybackToauthorizethecompanygenerallyandunconditionallytomakemarketpurchases(asdefinedinSection693(4)oftheCompaniesAct2006)ofordinaryshareswithnominalvalueof$0.25eachinthecompany,providedthat:
a.thecompanydoesnotpurchaseunderthisauthoritymorethan1.9billionordinaryshares;
b.thecompanydoesnotpaylessthan$0.25foreachshare;and
c.thecompanydoesnotpaymoreforeachsharethan5%overtheaverageofthemiddlemarketpriceoftheordinarysharesforthefivebusinessdaysimmediatelyprecedingthedateonwhichthecompanyagreestobuythesharesconcerned,basedonsharepricesandcurrencyexchangeratespublishedintheDailyOfficialListoftheLondonStockExchange.
Inexecutingthisauthority,thecompanymaypurchasesharesusinganycurrency,includingpoundssterling,USdollarsandeuros.
Thisauthorityshallcontinuefortheperiodendingonthedateoftheannualgeneralmeetingin2012or14July2012,whicheveristheearlier,providedthat,ifthecompanyhasagreedbeforethisdatetopurchaseordinaryshareswherethesepurchaseswillormaybeexecutedaftertheauthorityterminates(eitherwhollyorinpart),thecompanymaycompletesuchpurchases.Seenotesonpage9.
Theboardrecommendsyouvoteforresolutions1to23inclusive.
NoticeofBPAnnualGeneralMeeting2011 3
Noticeofmeetingandresolutionstobeproposed
Resolution 18 – Directors’ authority to allot shares (Section 551)Torenew,fortheperiodendingonthedateoftheannualgeneralmeetingin2012or14July2012,whicheveristheearlier,theauthorityandpowerconferredonthedirectorsbythecompany’sArticlesofAssociationtoallotrelevantsecuritiesuptoanaggregatenominalamountequaltotheSection551amountof$3,133million.Seenotesonpage9.
Resolution 19 – Directors’ authority to allot shares (Section 561) Torenew,fortheperiodendingonthedateoftheannualgeneralmeetingin2012or14July2012,whicheveristheearlier,theauthorityandpowerconferredonthedirectorsbythecompany’sArticlesofAssociationtoallotequitysecuritieswhollyforcash:
a.inconnectionwitharightsissue;
b.otherwisethaninconnectionwitharightsissueuptoanaggregatenominalamountequaltotheSection561amountof$235million.
Seenotesonpage9.
Resolution 20 – Notice of general meetingsToauthorizethecallingofgeneralmeetingsofthecompany(notbeinganannualgeneralmeeting)bynoticeofatleast14cleardays.Seenotesonpage9.
Resolution 21 – Political donations and political expenditureToauthorizethecompanyandBPInternationalLimited(‘BPI’)forthepurposesoftheCompaniesAct2006,Part14,tomakedonationsorincurexpenditureasprovidedbelow. DonationsorexpenditurebythecompanyorbyBPImaybeunderoneormoreorallofthefollowingheads:(i)donationstopoliticalpartiesorindependentelectioncandidates;(ii)donationstopoliticalorganisationsotherthanpoliticalparties;and(iii)politicalexpenditure. ThisauthoritymayonlybeusedbythecompanyorbyBPItomakeadonationorincurexpenditurewithinanyoneormoreoftheaboveheadsiftheaggregatetotalofthatdonationorexpenditure,togetherwithanyothersuchdonationsorexpenditureincurredinthesameyear(beginningonthedateofthisauthority,oritsanniversary),doesnotexceed£100,000. Intheperiodforwhichthisauthorityhaseffect,itshallpermitdonationsandexpenditurebyeachofthecompanyandBPItoamaximumamountof£400,000undereachoftheheadslistedearlier,butuseoftheauthorityshallalwaysbelimitedasabove. Thisauthorityshallcontinuefortheperiodendingon13April2015orthedateofthecompany’sannualgeneralmeetingin2015,whicheveristheearlier.Seenotesonpage10.
Resolution 22 – Renewal of the BP ShareMatch PlanToapprovetherenewaloftherulesoftheBPShareMatchPlan(‘ShareMatch’)(asamended),theprincipalfeaturesofwhicharesummarisedinthenotesonpage10,acopyofwhichisproducedindraftatthismeetingandforthepurposesofidentificationinitialledbythechairman,subjecttosuchmodificationasthedirectorsmayconsidernecessaryordesirabletomaintainorobtaintheapprovalofHMRCoranyothertaxationauthorityortotakeaccountoftherequirementsoftheFinancialServicesAuthorityortheLondonStockExchange(ortheirsuccessor(s))orotherwise;andfurthertoauthorisethedirectorsto:
a.doallthingsastheymayconsidernecessaryandexpedienttocontinuetooperateShareMatch;and
b.establishormaintainsuchfurtherplansforthebenefitofemployeesbasedonShareMatchsubjecttosuchmodificationsasmaybe
necessaryordesirabletotakeaccountofsecuritylaws,exchangecontrolandtaxlegislationinanycountry,providedthatanysharesmadeavailableunderShareMatcharetreatedascountingagainstanylimitsonindividualparticipationinsuchfurtherplansandanynewsharesmadeavailableundersuchfurtherplansaretreatedascountingagainstanylimitsonoverallparticipationinShareMatch.
Seenotesonpage10.
Resolution 23 – Renewal of the BP Sharesave UK Plan 2001ToapprovetherenewaloftheBPSharesaveUKPlan2001(‘SharesaveUK’)(asamended),theprincipalfeaturesofwhicharesummarisedinthenotesonpage10,acopyofwhichisproducedindraftatthismeetingandforthepurposesofidentificationinitialledbythechairman,subjecttosuchmodificationasthedirectorsmayconsidernecessaryordesirabletomaintainorobtaintheapprovalofHMRCoranyothertaxationauthorityortotakeaccountoftherequirementsoftheFinancialServicesAuthorityortheLondonStockExchange(ortheirsuccessor(s))orotherwise;andfurthertoauthorisethedirectorsto:
a.doallthingsastheyconsidernecessaryandexpedienttocontinuetooperateSharesaveUK;and
b.establishormaintainsuchfurtherplansforthebenefitofemployeesbasedonSharesaveUKsubjecttosuchmodificationsasmaybenecessaryordesirabletotakeaccountofsecuritylaws,exchangecontrolandtaxlegislationinanycountry,providedthatanysharesmadeavailableunderSharesaveUKaretreatedascountingagainstanylimitsonindividualparticipationinsuchfurtherplansandanynewsharesmadeavailableundersuchfurtherplansaretreatedascountingagainstanylimitsonoverallparticipationinSharesaveUK.
Seenotesonpage10.
Note:Resolutions1to16inclusiveandResolutions18and21to23willbeproposedasordinaryresolutions.Resolutions17,19,and20willbeproposedasspecialresolutions.Resolutions17to23inclusiveareitemsofspecialbusiness.
Byorderoftheboard
David J JacksonCompanySecretary25February2011
4 NoticeofBPAnnualGeneralMeeting2011
Notes on resolutions
Notestoresolution1ReportandaccountsTheboardofdirectorswillpresentitsreportandtheaccountsfortheyearended31December2010,whicharecontainedinBP Annual Report and Form 20-F 2010.
Notestoresolution2Directors’remunerationreportThedirectors’remunerationreportiscontainedinBP Annual Report and Form 20-F 2010onpages111-121(www.bp.com/annualreport).ItcomplieswithrequirementsoftheCompaniesAct2006forareportontheremunerationofalldirectors,bothexecutiveandnon-executive. Thepartofthereportdealingwithexecutivedirectors’remunerationwaspreparedbytheremunerationcommitteeandthepartofthereportdealingwithnon-executivedirectors’remunerationbythecompanysecretaryonbehalfoftheboard.Relevantsectionsofinformationaresubjecttoaudit. Thereporthasbeenapprovedbytheboardandsignedonitsbehalfbythecompanysecretary. Asummaryofthedirectors’remunerationreportcanbefoundinBP Summary Review 2010onpages30-31(www.bp.com/summaryreview).
Annual Report and Form 20-Fbp.com/annualreport
Notestoresolutions3-15Re-electionofdirectorsAsrequiredbythecompany’sArticlesofAssociation,MrPMAnderson,MrABurgmans,MrsCBCarroll,SirWilliamCastell,MrICConn,MrGDavid,MrIELDavis,MrRWDudley,DrBEGroteandMrC-HSvanberg,retireandofferthemselvesforre-electionasdirectors.MrFLBowman,MrBRNelsonandMrFPNhlekoofferthemselvesforelectionasdirectors. Thenominationcommitteeoftheboardhas,asoneofitstasks,theidentification,evaluationandrecommendationofcandidatesforelectionorre-electionasdirectors.Thecommittee’srecommendationsforthere-electionofdirectorsaresetoutbelow,asaredescriptionsofthedirectors’skillsandthecommitteesuponwhichtheyserve.Inmakingtherecommendations,thecommitteenotedthesubstantialcontributionsmadebyallboardmembersduringtheyearasthecompanyrespondedtotheeventsintheGulfofMexicoandtheirconsequences. Inrespectofeachofthenon-executivedirectors,theboardhasfullyconsideredwhetheradirectorisfreefromanyrelationshipwiththeexecutivemanagementofBPthatcouldmateriallyinterferewiththeexerciseofhisorherindependentjudgement.
Resolution3MrPMAndersonPaul Anderson was appointed a non-executive director of BP on 1 February 2010. He is a member of the chairman’s, the Gulf of Mexico, and the safety, ethics and environment assurance committees.
Proposal for re-election
Mr Anderson has spent his career as an executive and chief executive in the energy industry, specifically in oil and gas. His skill, experience and deep knowledge is of significance to the board and to the safety, ethics and environment assurance committee. He has also served on the Gulf of Mexico committee, where his experience in the US has been very valuable. Having satisfied itself of Mr Anderson’s independence, the board recommends his re-election as a non-executive director.
MrAndersonisanon-executivedirectorofBAESystemsPLCandofSpectraEnergyCorp.HewasformerlychiefexecutiveatDukeEnergy,wherehealsoservedaschairmanoftheboard.HavingpreviouslybeenchiefexecutiveofficerandmanagingdirectorofBHPLimitedandthenBHPBillitonLimitedandBHPBillitonPlc,herejoinedtheselattertwoboardsin2006asanon-executivedirector,retiringon31January2010.Previouslyheservedasanon-executivedirectoronnumerousboardsintheUSandAustralia. Hewasbornin1945.
NoticeofBPAnnualGeneralMeeting2011 5
Notesonresolutions
Proposal for re-election
Mr Burgmans has served on the board for more than seven years. His international experience in marketing and process industries has made a significant contribution to the work of the board. He continues his work on the safety, ethics and environment assurance committee and has been a member of the remuneration committee for over a year. He will take over as chair of the remuneration committee after the AGM. He has made a particular contribution around the areas of reputation, brand and culture. Having satisfied itself of Mr Burgman’s independence, the board recommends his re-election as a non-executive director.
MrBurgmansjoinedUnileverin1972,holdingasuccessionofmarketingandsalesposts,including,from1988until1991,thechairmanshipofPTUnileverIndonesia. In1991,hewasappointedtotheboardofUnilever,becomingbusinessgrouppresident,icecreamandfrozenfoods,Europein1994,andchairmanofUnilever’sEuropecommittee,co-ordinatingitsEuropeanactivities.In1998,hebecamevicechairmanofUnileverNVandin1999,chairmanofUnileverNVandvicechairmanofUnileverPLC.In2005,hebecamenon-executivechairmanofUnileverNVandUnileverPLCuntilhisretirementin2007. MrBurgmansisamemberofthesupervisoryboardsofAkzoNobelN.V.,AEGONN.V.andSHVHoldingsN.V. MrBurgmanswasbornin1947.
Resolution4MrABurgmansAntony Burgmans was appointed a non-executive director of BP on 5 February 2004. He is a member of the chairman’s, the remuneration and the safety, ethics and environment assurance committees.
Resolution5MrsCBCarrollCynthia Carroll was appointed a non-executive director of BP on 6 June 2007. She is a member of the chairman’s and the safety, ethics and environment assurance committees.
Proposal for re-election
Mrs Carroll has served on the board for nearly four years. Her career in the global extractive industries and her understanding of geopolitical challenges is specifically relevant to her work on the board. She has made a substantial contribution to the work of the safety, ethics and environment assurance committee. Having satisfied itself of Mrs Carroll’s independence, the board recommends her re-election as a non-executive director.
MrsCarrollstartedhercareerwithAmocoasapetroleumgeologistinoilexploration.In1989,shejoinedAlcan,andin1991,becamevicepresident/generalmanagerofAlcanfoilproducts.In1996,shewasappointedmanagingdirectorofAughinishAluminaLimited,asubsidiaryofAlcanAluminiumLimited,inIreland.In1998,shebecamepresidentofbauxite,aluminaandspecialtychemicals,andin2002,wasappointedpresidentandchiefexecutiveofficerofAlcan’sprimarymetalsgroupandanofficerofAlcan,Inc.inMontreal,Canada. MrsCarrollwasappointedaschiefexecutiveofAngloAmericanplc,theglobalmininggroup,in2007.SheisadirectorofAngloPlatinumLimitedandDeBeerss.a.andamemberoftheNSPCCStopOrganisedAbuseboard. MrsCarrollwasbornin1956.
Proposal for re-election
Sir William has served on the board for nearly five years. His experience of global business in the field of science and technology has been particularly relevant as has his work in the US and developing countries. Sir William has been the senior independent director since April 2010. His chairmanship of the safety, ethics and environment assurance committee has a clear interface with his work on the Gulf of Mexico committee. He has made seven visits to the Gulf of Mexico. He sits on the nomination committee. Having satisfied itself of Sir William’s independence, the board recommends his re-election as a non-executive director.
SirWilliamspenthisearlycareerwiththeWellcomeFoundation,holdingvariouspositions.In1989,hejoinedAmershamplcaschiefexecutive.FollowingAmersham’sacquisitionbyGeneralElectricin2004,SirWilliambecamepresidentandchiefexecutiveofficerofGEHealthcare,andavicechairmanandadirectoroftheGeneralElectricCompany.HeretiredfromGEHealthcarein2006.SirWilliamremainsadirectoroftheGeneralElectricCompany.HewasappointedasamemberoftheboardofgovernorsoftheWellcomeTrustin2006,subsequentlybecomingitschairman.HeisadirectoroftheChichesterFestivalTheatre. Hewasknightedin2000.In2004,hereceivedthehonourLieutenantoftheRoyalVictorianOrder. SirWilliamwasbornin1947.
Resolution6SirWilliamCastellSir William Castell was appointed a non-executive director of BP on 20 July 2006. He is the senior independent director and is a member of the chairman’s, the Gulf of Mexico and the nomination committees and chairman of the safety, ethics and environment assurance committee.
6 NoticeofBPAnnualGeneralMeeting2011
Proposal for re-election
Mr David has served on the board for more than three years. He has substantial global business and financial experience through his long career with United Technologies Corporation (UTC). Mr David has continued his membership of the audit committee. He has joined the remuneration committee and has played a major role in the Gulf of Mexico committee. Separately, he chairs the company’s technology advisory council. The board is satisfied with Mr David’s independence and recommends his re-election as a non-executive director.
MrDavidbeganhiscareerinTheBostonConsultingGroupbeforejoiningtheOtisElevatorCompanyin1975.HeheldvariousrolesinOtisandlaterinUTC,followingOtis’smergerwithUTCin1977.In1992,hebecameUTC’schiefoperatingofficer.HeservedasUTC’schiefexecutiveofficerfrom1994until2008andaschairmanfrom1997untilhisretirementon31December2009. MrDavidisaformerdirectorofCitigroupIncandisvice-chairmanofthePetersonInstituteforInternationalEconomics. HewasawardedtheOrderofFriendshipfromtheRussianFederationin1999andadmittedtotheFrenchLégiond’Honneurin2002. MrDavidwasbornin1942.
Proposal for re-election
Mr Davis joined the board in April 2010. He has had significant experience working with and advising global organizations over the past 30 years. Mr Davis serves on four committees and has been heavily committed to the work of the company during the year. He chairs the Gulf of Mexico committee and serves on the audit, remuneration and nomination committees. He is considered independent by the board, which recommends his re-election as a non-executive director.
MrDavisspenthisearlycareeratBowater,movingtoMcKinsey&Companyin1979.HewasmanagingpartnerofMcKinsey’spracticeintheUKandIrelandfrom1996to2003.In2003,hewasappointedaschairmanandworldwidemanagingdirectorofMcKinsey,servinginthiscapacityuntil2009.DuringhiscareerwithMcKinsey,MrDavisservedasaconsultantonarangeofglobalorganizationsacrosstheprivate,publicandnot-for-profitsectors.HeretiredasseniorpartnerofMcKinsey&Companyon30July2010. MrDavisisanindependentnon-executivedirectorofJohnson&Johnson,Inc,andasenioradvisertoApaxPartnersLLP.Heisalsoanon-executivememberoftheUK’sCabinetOffice. Hewasbornin1951.
Notesonresolutions
Proposal for re-election
Mr Conn has served on the board for more than six years. His performance has been evaluated by the group chief executive and considered by the chairman’s committee, as a result of which the board recommends Mr Conn’s re-election as an executive director.
MrConnjoinedBPOilInternationalin1986,workinginavarietyofrolesinoiltrading,commercialrefiningandexplorationbeforebecoming,onthemergerbetweenBPandAmocoin1999,vicepresidentofBPAmocoexploration’smid-continentbusinessunit. Attheendof2000,hereturnedtoLondonasgroupvicepresidentandamemberoftheRefiningandMarketingsegment’sexecutivecommittee,takingoverresponsibilityin2001forBP’smarketingoperationsinEurope.In2002hewasappointedchiefexecutiveofBPPetrochemicals.Followinghisappointmenttotheboardin2004,heservedforthreeyearsasgroupexecutiveofficer,strategicresources,inwhichhehadresponsibilityforanumberofgroupfunctionsandregions. MrConnisanon-executivedirectorandtheseniorindependentdirectorofRolls-RoyceGroupplcandchairmanofTheAdvisoryBoardofImperialCollegeBusinessSchool. MrConnwasbornin1962.
Resolution7MrICConnIain Conn was appointed an executive director of BP on 1 July 2004. He is chief executive, Refining and Marketing. He has regional responsibility for Europe, Southern Africa and Asia.
Resolution8MrGDavidGeorge David was appointed a non-executive director of BP on 11 February 2008. He is a member of the chairman’s, the audit, the Gulf of Mexico, and the remuneration committees.
Resolution9MrIELDavisIan Davis joined the board as a non-executive director of BP on 2 April 2010. He is a member of the chairman’s, the audit, the nomination and the remuneration committees and chairman of the Gulf of Mexico committee.
NoticeofBPAnnualGeneralMeeting2011 7
Proposal for re-election
Mr Dudley has served on the board for two years. During the year he was appointed as group chief executive. His performance has been evaluated and considered by the chairman’s committee, as a result of which the board recommends Mr Dudley’s re-election as an executive director.
MrDudleyjoinedAmocoCorporationin1979,workinginavarietyofengineeringandcommercialposts.Between1994and1997,heworkedoncorporatedevelopmentinRussia.In1997,hebecamegeneralmanagerforstrategyforAmocoandin1999,followingthemergerbetweenBPandAmoco,wasappointedtoasimilarroleinBP. Between1999and2000,hewasexecutiveassistanttothegroupchiefexecutiveofficer,subsequentlybecominggroupvicepresidentforBP’srenewablesandalternativeenergyactivities.In2002,hebecamegroupvicepresidentresponsibleforBP’supstreambusinessesinRussia,theCaspianregion,Angola,AlgeriaandEgypt.From2003to2008,MrDudleywaspresidentandchiefexecutiveofficerofTNK-BP.OnhisappointmenttotheBPboardin2009,hetookresponsibilityforthegroup’sactivitiesintheAmericasandAsiaandbetween23Juneand30September2010,heservedasthepresidentandchiefexecutiveofficerofBP’sGulfCoastRestorationOrganizationintheUS. InDecember2009hewasawardedanhonoraryCBE. MrDudleywasbornin1955.
Resolution10MrRWDudleyBob Dudley was appointed an executive director of BP on 6 April 2009 and became group chief executive on 1 October 2010.
Notesonresolutions
Resolution11DrBEGroteByron Grote was appointed an executive director of BP on 3 August 2000. He became chief financial officer in 2002. He has accountability for BP’s integrated supply and trading activities.
Proposal for re-election
Dr Grote has served on the board for nearly 11 years. His performance has been evaluated by the group chief executive and considered by the chairman’s committee, as a result of which the board recommends Dr Grote’s re-election as an executive director.
DrGrotejoinedTheStandardOilCompanyofOhioin1979.Followingavarietyofroles,hebecamegrouptreasurerandchiefexecutiveofficerofBPfinancein1992.In1994,hetookupthepositionofregionalchiefexecutiveinLatinAmerica,returningtoLondonin1995tobecomedeputychiefexecutiveofficerofBPExploration. Hebecamegroupchiefofstaffin1997and,followingthemergerofBPandAmoco,in1999hewasappointedexecutivevicepresident,ExplorationandProduction.Followinghisappointmenttotheboardin2000,heservedfortwoyearsaschiefexecutiveofBPChemicals. Heisanon-executivedirectorofUnileverNVandUnileverPLC. DrGrotewasbornin1948.
Proposal for election
Mr Bowman joined the board in November 2010. He has deep experience of safety arising from his long career with the US nuclear Navy and, later, the Nuclear Energy Institute. On his appointment, he joined the safety, ethics and environment assurance committee, where he makes a significant contribution. He was independent on his appointment and the board recommends his election as a director.
MrBowmanjoinedtheUnitedStatesNavyin1966.Duringhisnavalservice,hecommandedtheUSS City of Corpus Christi andtheUSS Holland.HeservedasaFlagOfficer,astheNavy’schiefofpersonnelandonthejointstaffasdirectorofpolitical-militaryaffairs.HewasdirectorofthenavalnuclearpropulsionprogrammeintheDepartmentoftheNavyandtheDepartmentofEnergy. AfterhisretirementasanAdmiralin2004,hewaspresidentandchiefexecutiveofficeroftheNuclearEnergyInstituteuntil2008.HeservedontheBPIndependentSafetyReviewPanelandwasamemberoftheBPAmericaExternalAdvisoryCouncil.HeispresidentofStrategicDecisions,LLCandadirectorofMorganStanleyMutualFunds. In1997hewasawardedtheFrenchOfficierdel’OrdreNationalduMériteandin2005hewasawardedanhonoraryKBE. MrBowmanwasbornin1944.
Resolution12MrFLBowmanFrank L ‘Skip’ Bowman, Admiral US Navy (retired), was appointed a non-executive director of BP on 8 November 2010. He is a member of the chairman’s and the safety, ethics and environment assurance committees.
8 NoticeofBPAnnualGeneralMeeting2011
Notesonresolutions
Proposal for election
Mr Nelson joined the board in November 2010. He was recruited to the board for his extensive experience in finance and for the breadth of his business experience both in a major accountancy firm and industry. He joined the audit committee on his appointment and will become the chair of that committee after the AGM. He will also become a member of the nomination committee. He was independent on his appointment and the board recommends his election as a director.
MrNelsonisacharteredaccountant,andwasmadeapartnerofKPMGin1984.HeservedasamemberoftheUKBoardofKPMGfrom2000to2006subsequentlybeingappointedvicechairmanuntilhisretirementin2010.InKPMGInternationalheheldanumberofseniorpositionsincludingglobalchairman,bankingandglobalchairman,financialservices. InApril2010MrNelsonwasappointedanon-executivedirectorofTheRoyalBankofScotlandGroupplcwhereheischairmanofthegroupauditcommittee.HehasbeenadirectoroftheFinancialServicesSkillsCouncilsince2008. Hewasbornin1949.
Proposal for re-election
Mr Svanberg joined the board in September 2009. His career has spanned several important industries latterly as chief executive officer of Ericsson. He has significant global experience. In addition to chairing the board, Mr Svanberg chairs the chairman’s committee and attends the nomination and the Gulf of Mexico committees. He was independent on his appointment and the board recommends his re-election as a director.
MrSvanbergspenthisearlycareeratAseaBrownBoveriandtheSecuritasGroup,beforemovingtotheAssaAbloyGroupaspresidentandchiefexecutiveofficer. From2003until31December2009,whenhelefttojoinBP,hewaspresidentandchiefexecutiveofficerofEricsson,alsoservingasthechairmanofSonyEricssonMobileCommunicationsAB.MrSvanbergcontinuestobeanon-executivedirectorofEricsson,andisalsoontheboardoftheConfederationofSwedishEnterprise. HeisamemberoftheSteeringCommitteeoftheGlobalAllianceforInformationandCommunicationTechnologiesandDevelopmentandoftheexternaladvisoryboardoftheEarthInstituteatColumbiaUniversity. MrSvanbergistherecipientoftheKingofSweden’smedalforhiscontributiontoSwedishindustry. MrSvanbergwasbornin1952.
Resolution13MrBRNelsonBrendan Nelson was appointed a non-executive director of BP on 8 November 2010. He is a member of the chairman’s and the audit committees.
Resolution15MrC-HSvanbergCarl-Henric Svanberg was appointed a non-executive director of BP on 1 September 2009 and became chairman on 1 January 2010.
Proposal for election
Mr Nhleko joined the board in February 2011. He has substantial business experience in Africa and the Middle East and a deep understanding of emerging markets. He has joined the audit committee. He was independent on his appointment and the board recommends his election as a director.
MrNhlekobeganhiscareerasacivilengineerintheUSandasaprojectmanagerforinfrastructuredevelopmentsinSouthernAfrica.FollowingthishebecameaseniorexecutiveoftheStandardCorporateandMerchantBankinSouthAfrica.HelaterheldasuccessionofdirectorshipsbeforejoiningMTNGroup,apan-AfricanandMiddleEasterntelephonygrouprepresentedin21countries,asgrouppresidentandchiefexecutiveofficerin2002.In2003,heledthemanagementleveragedbuy-intoMTNasaresultofwhichMTN’smanagementacquiredabout18%ofthegroup.ThetransactionwasthelargestofitskindinSouthAfrica’shistory.HewillstepdownasgroupchiefexecutiveofMTNGroupattheendofMarch2011tobecomevicechairmanoftheMTNGroupandchairmanofMTNInternational.MrNhlekowasformerlyadirectorofJohnnicHoldings(formerlyasubsidiaryoftheAngloAmericangroupofcompanies),NedbankGroup,BidvestGroupandAlexanderForbes. Hewasbornin1960.
Resolution14MrFPNhlekoPhuthuma Nhleko was appointed a non-executive director of BP on 1 February 2011. He is a member of the chairman’s and the audit committees.
NoticeofBPAnnualGeneralMeeting2011 9
Notesonresolutions
Notestoresolution16ReappointmentofauditorsTheappointmentofErnst&YoungLLPasauditorsofthecompanyterminatesattheconclusionoftheannualgeneralmeeting.Theyhaveindicatedtheirwillingnesstostandforre-electionasauditorsofthecompanyuntiltheconclusionoftheannualgeneralmeetingin2012.Thedirectorsrecommendtheirreappointmentandseekauthoritytofixtheirremuneration.
Notestoresolution17SharebuybackAuthorityissoughttopurchaseupto10%oftheordinaryissuedsharecapitalofthecompanyduringtheperiodstatedbelow,continuingtheauthoritygrantedbytheshareholdersatpreviousannualgeneralmeetings. Resolution17specifiesthemaximumnumberofsharesthatmaybepurchasedandtheminimumandmaximumpricesatwhichtheymaybebought.Thedirectorswillexercisethisauthorityonlywhentodosowouldbeinthebestinterestsofshareholdersgenerally.Theauthoritywillexpireattheconclusionoftheannualgeneralmeetingin2012oron14July2012,whicheveristheearlier.Sharesthatarepurchasedbythecompanymusteitherbecancelledorheldintreasury.Treasurysharesaresharesinthecompanythatareownedbythecompanyitself.Oncesharesareheldintreasury,thedirectorsmaydisposeoftheminaccordancewiththerelevantlegislationby:
a.sellingtheshares(oranyofthem)forcash;
b.transferringtheshares(oranyofthem)forthepurposesoforpursuanttoanemployees’sharescheme;or
c.cancellingtheshares(oranyofthem).
Itisthecompany’scurrentintentionthat,ofthesharesrepurchasedunderthisauthority,sufficientshareswillbeheldintreasurytomeettherequirements,astheyarise,ofthecompany’sshareincentivearrangements,withtheremainderbeingcancelled. Norepurchasesofsharesweremadefromthedateofthelastannualgeneralmeetingto31December2010. Forinformation,asat18February2011,therewereoptionsoutstandingover261,526,262ordinaryshares,representing1.39%ofthecompany’sordinaryissuedsharecapital(excludingtreasuryshares).Iftheauthoritygivenbyresolution17weretobefullyused,thesewouldthenrepresent1.55%ofthecompany’sordinaryissuedsharecapital(excludingtreasuryshares).Thecompanyhasnowarrantsinissueinrelationtoitsshares.
Notestoresolutions18and19Directors’authoritytoallotsharesThepurposeofresolution18istogivethedirectorsauthoritytoallotsharesuptoaspecifiedamount,andresolution19enablesdirectorstoallotsuchsharesinparticularcircumstanceswithouthavingtooffersuchsharestoexistingshareholders. Influencedbyeventsinthefinancialmarketsoverthepastfewyears,theAssociationofBritishInsurers(ABI)recentlychangeditsguidelinestoincreasetheamountoftheauthoritiesthatdirectorsmayroutinelyseekinrelationtotheallotmentofsharesanddisapplication
ofpre-emptionrights.Asitdidlastyear,thecompanyintendstotakeadvantageofthisflexibility,whichhasbeenadoptedbyotherquotedcompanies. Inrelationtoresolution18,thedirectorsareseekingauthoritytoallotshares,inaccordancewithrevisedinstitutionalinvestorguidelines,ofuptoamaximumof$3,133million.Thisisthe‘Section551Amount’andisequalto66.6%(i.e.two-thirds)ofthecompany’sissuedsharecapital(excludingtreasuryshares)asat18February2011.Theadditionalone-thirdoftheSection551Amountwillbeappliedtofullypre-emptiverightsissuesonly. Inrelationtoresolution19,thedirectorsarealsoseekingauthoritytoallotsharesforcashandtodisposeoftreasuryshares,otherthanbywayofarightsissue,uptoamaximumof$235million,withouthavingtooffersuchsharestoexistingshareholders.Thisisthe‘Section561Amount’andisequalto5%ofthecompany’sissuedsharecapital(excludingtreasuryshares)asat18February2011. InaccordancewiththeguidelinesissuedbythePre-EmptionGroupoftheABI,thedirectorsconfirmtheirintentionthatthetotalnumberofsharesissuedforcashonanon-pre-emptivebasisduringanyrollingthree-yearperiodwillnotexceed7.5%oftheissuedsharecapitalofthecompany.Thedirectorshavenopresentintentionofexercisingtheauthoritiesbeyondtheiruseinconnectionwiththedisposaloftreasurysharesinaccordancewiththerelevantlegislation. Asat25February2011,thecompanyheld1,848,595,774treasuryshares,whichrepresents9.81%ofthecompany’sissuedordinarysharecapital(excludingtreasuryshares). Theauthoritieswillexpireonthedateoftheannualgeneralmeetingin2012or14July2012,whicheveristheearlier.
Notestoresolution20NoticeofgeneralmeetingsDuetochangesinthelawmadebytheimplementationoftheCompanies(Shareholders’Rights)Regulations2010,listedcompaniesmustcallgeneralmeetings(otherthananannualgeneralmeeting)onatleast21cleardays’noticeunlessthecompany:
a.hasobtainedshareholderapprovalfortheholdingofgeneralmeetingson14cleardays’noticebypassinganappropriateresolutionatitsmostrecentannualgeneralmeeting;and
b.offersthefacilityforshareholderstovotebyelectronicmeansaccessibletoallshareholders.
Toenablethecompanytocontinuetoutilizetheshorternoticeperiodof14daysforcallingsuchgeneralmeetings,shareholdersarebeingaskedtoapprovethisresolution.Theshorternoticeperiodwouldnotbeusedasamatterofroutineforsuchmeetings,butonlywheretheflexibilityismeritedbythebusinessofthemeetingandisthoughttobetotheadvantageofshareholdersasawhole.Ifgranted,thisauthoritywillbeeffectiveuntilthecompany’snextannualgeneralmeeting.
10 NoticeofBPAnnualGeneralMeeting2011
Notesonresolutions
Notestoresolution21PoliticaldonationsandpoliticalexpenditurePart14oftheCompaniesAct2006(the‘Act’)containsrestrictionsoncompaniesmakingdonationsorincurringexpenditureinrelationtopoliticalorganisations.Thecompanydoesnotmakedonationstopoliticalorganisationsorincurpoliticalexpenditureintheordinarysenseandhasnointentionofusingtheauthorityforthispurpose.However,Part14oftheActdefinestheterm‘organisation’verywidely.Asaresult,itispossiblethat‘political’organisations,asdefinedintheAct,mayincludebodiesconcernedwithmatterssuchaspolicyreviewandlawreform,ortherepresentationofthebusinesscommunityorsectionsofit,ortherepresentationofothercommunitiesorspecialinterestgroups,anditmaybeintheshareholders’interestforthecompanytosupportsuchagroup.Consequently,toenablethecompanytosupportorganisationsthatarenotbelievedtobepoliticalintheordinarysense,butwhichmightcomewithintheextendedanduncertainscopeofPart14,thecompanyisseekingauthorityunderthisresolutiontoallowthecompany(orBPInternationalLimited,oneofitsprincipaloperatingsubsidiaries)tofunddonationsand/orincurexpenditureuptoalimitof£100,000perannum.ThisauthorityissoughtforthefullperiodoffouryearsaspermittedundertheAct. Part14oftheActrequiresthattheauthorityshouldspecifythemaximumamountthateachofthecompanyandBPInternationalLimitedcanspendoneachcategoryofpoliticaldonationsorexpenditureduringthefour-yearperiod.Toensuresufficientflexibility,theresolutionprovidesthatthismaximumamountis£400,000foreachcompany,inrespectofeachcategory,overthewholeperiodoftheauthorityuntilitsexpirationin2015.Asstatedintheresolution,theamountofexpenditurebyboththecompanyandBPInternationalLimitedundertheauthorityshallnotexceed£100,000intotalinanyyear.
Notestoresolutions22and23BPShareMatchPlanandBPSharesaveUKPlanAuthorityissoughttoapprovetherenewaloftheBPShareMatchPlan(‘ShareMatch’)andtheBPSharesaveUKPlan2001(‘SharesaveUK’)(togetherthe‘Plans’).ThesePlansareall-employeeplansthatwerefirstapprovedbyshareholderson19April2001. Employeesurveyshaveshownthatcompaniesperformbetterifemployeesareengagedandinterestedinthecompanyforwhichtheywork.BPconsidersthatemployeeshareplansgiveemployeesanopportunitytoownashareofthecompanyandhelpaligntheirowninterestswiththoseofthecompanyanditsshareholders. Asshareholders,employeeshaveastronginterestinhelpingthecompanytoachieveitsgoals,toenjoylong-termsuccessandtocreateshareholdervalueandreturn.Forthesereasons,BPviewsshareplansasawayofencouragingshareownershipthroughoutthecompany.
ShareholderauthoritytooperatethePlanswillexpireon19April2011andshareholdersarenowbeingaskedtoapprovetherenewalofthePlanssothatBPcancontinuetooperatethePlansandprovidethesebenefits. TherulesofthePlanspermittheboardtomakemodificationstotakeaccountofanylocaltax,exchangecontrol,orsecuritieslawsinparticularcountries.Forexample,inrespectofShareMatchintheUK,employeesparticipatethroughtheHMRevenue&Customs(‘HMRC’)approvedShareIncentivePlan. Overthepast10years,thedirectorshaveonlymademinoramendmentstoassistorimprovetheadministrationofthePlans.
Common featuresSetoutbelowarethefeaturesthatarecommontothePlans.
EligibilityExecutivedirectorsandallemployeesofthecompanyandanysubsidiariesdesignatedbythedirectorsasparticipatingcompaniesareeligibletoparticipateinthePlans,providedtheyhaveworkedforthecompanyoraparticipatingcompanyforanyqualifyingperiodasdeterminedbythedirectors(butnotexceedingthreeyears). BenefitsunderthePlansarenotpensionable.
AmendmentThedirectorsmayamendthePlansastheyconsiderappropriate.However,shareholderapprovalwillberequiredtoamendcertainprovisionstotheadvantageofparticipants.Theseprovisionsrelatetoeligibility,individualandplanlimits,thetreatmentofawardsonthevariationinthecompany’ssharecapital,andtheamendmentpowers. Thedirectorscanmakecertainminoramendments,withoutshareholderapproval,thatmaybetotheadvantageofparticipants,suchasamendmentstobenefittheadministrationofthePlans,totakeaccountofachangeinlegislation,ortoobtainormaintainfavourabletaxtreatmentforparticipantsorthecompanyorotherparticipatingcompanies. TotheextentthePlansareoperatedinanyjurisdictiononatax-favourablebasis,amendmentstothePlansaresubjecttothepriorapprovaloftherelevanttaxauthority,asmayberequired.
Dilution limitsInany10-yearperiod,notmorethan10%oftheissuedordinarysharecapitalofthecompanymaybeissuedorbeissuableunderthePlansandallotheremployees’shareplansoperatedbythecompany.
SharesAnysharesissuedortransferredunderthePlanswillrankequallywithsharesofthesameclassinissueonthedateofallotment/transferexceptinrespectofrightsarisingbyreferencetoapriorrecorddate.
Variation in share capitalTherightsunderthePlansmaybeadjustedfollowinganyvariationinthesharecapitalofthecompany,includingacapitalisationorrightsissue,sub-division,consolidationorreductionofsharecapital.
NoticeofBPAnnualGeneralMeeting2011 11
Notesonresolutions
ShareMatchGeneralTheShareMatchPlanisoperatedintheUKandthroughoutmostoftheworldsaveforafewcountries,suchastheUnitedStates,AustraliaandNewZealand,andcertainEuropeancountries,suchasGermanyandNorway,wherelocallegalissuesmaketheplandifficultorimpossibletooperate. UnderShareMatch,employeespurchaseshares(‘InvestmentShares’)usingtheirownfundsorcontributeexistingsharespreviouslyacquiredunderShareMatchandareawardedmatchingshares(‘MatchingShares’)bythecompanyonabasisdeterminedbythecompany.Freesharesmayalsobeawardedalthoughthereisnocurrentintentiontoawardfreeshares.ShareMatchoperatesinconjunctionwithatrust,whichholdssharesonbehalfofemployees.Sharesmustnormallybeheldbythetrusteeforaminimumperiodofthreeyears. Therearecurrently19,430participantsgloballyintheBPShareMatchPlan,with52,727,514sharesheldintheplan. Wherelocallegalissuesmakeitimpossibleordifficulttoprovidebenefitsintheformofshares,thenthePlansmayprovidethatthevalueofanybenefitsthatwouldhavebeenreceivedinsharesmaybepaidincash. IntheUKtheplanisapprovedbyHMRCfortaxpurposesand,asaresult,UKparticipantsreceivetaxfavourabletreatment.
DividendsDuringtheholdingperiod,dividendspaidonsharesareeitherre-investedinthepurchaseofadditionalsharesorpaidincash.
Individual limitsThemaximumemployeecontributionislinkedtothemaximumcontributionallowedunderanHMRC-approvedShareIncentivePlan(currently£1,500peryearor10%ofsalaryiflower).ThemaximumnumberofMatchingShares,freesharesanddividendre-investedsharesthatmaybeawardedtoanyindividualunderShareMatchinanyyearisalsolinkedtotheHMRC-approvedShareIncentivePlan(whichiscurrentlytwoMatchingSharesforeachInvestmentShare,upto£3,000offreesharesandre-investmentofupto£1,500ofdividends).Intotal,therefore,underShareMatch,nomorethan£9,000worthofsharescanbeappropriatedtoanemployeeinanyoneyear.
Voting rightsParticipantsmaydirectthetrusteeshowtoexercisethevotingrightsattributabletothesharesheldontheirbehalf.Thetrusteeswillnotexercisethevotingrightsunlesstheyreceivetheparticipants’instructions.
LeaversIfaparticipantceasestobeanemployeeoftheBPgrouporthereisatakeover,thesharesunderShareMatchwillnormallybetransferredtothem.
Sharesave UKGeneralSharesaveUKisaplanthatisapprovedbyHMRCintheUKfortaxpurposesandunderwhichUKparticipantsreceivetax-favourabletreatment. Therearecurrently8,353participantsinSharesaveUK.In2009and2010,optionsover5,684,777sharesand1,267,111sharesrespectivelywereexercised.
Savings contractAnemployeeisgrantedanoptiontoacquirecompanysharesatafixedoptionprice(seebelow).Theemployeemustenterintoasavingscontractandsaveatleast£5butnotmorethan£250permonth(orsuchothersumasmaybeallowedbylegislation)usuallyforathree-orfive-yearperiod.Sharescanonlybeboughtwiththeamountsaved,plusanybonuspaidunderthesavingscontract.
Option priceTheoptionpricemustnotbelessthan80%ofthemarketvalueofashareeitheronthedatethatinvitationsaresenttoeligibleemployeesoronthedatespecifiedontheinvitation.
Exercise of optionsOptionsarenormallyexercisablewithinsixmonthsaftertheendofthesavingscontract.Optionsmay,however,beexercisedearlyincertaincircumstances.Theseinclude,forexample,anemployeeleavingbecauseofillhealth,retirement,deathorredundancy.Oncessationofemploymentforotherreasons,optionswillnormallylapse.
Change of control, merger or other reorganisationOptionsmaygenerallybeexercisedearlyonatakeover,schemeofarrangement,mergerorotherreorganisation.Alternatively,optionholdersmaybeallowedorrequiredtoexchangetheiroptionsforoptionsoversharesintheacquiringcompany.
Overseas employeesSharesaveUKmaybeextendedtooverseasemployeesontermsappropriatetothejurisdictioninwhichtheywork,aslongassuchtermsarenotmorefavourableoverallthanthoseapplicabletoUKemployees.TheseoptionswillnotbeHMRCapproved.
Terminating the planNonewrightsmaybegrantedunderSharesaveUKafterthe10thanniversaryofthere-approvaloftheplanbythecompany.
12 NoticeofBPAnnualGeneralMeeting2011
Shareholder notes
Thefollowingpagesprovidemoredetailedinformationaboutyourvotingrightsandhowyoumayexercisethem.
OrdinaryandpreferenceshareholdersOrdinary shareholders’ and preference shareholders’ right to attend and vote at the AGM Ifyouareanordinaryshareholderorapreferenceshareholder,youmayattend,speakandvoteyoursharesattheAGMifyournameisontheRegisterofMembersat5.30p.m.onTuesday,12April2011.Yourvotingentitlementwilldependonthenumberofsharesthatyouholdatthattime.Ifyouareattendingthemeetinginperson,pleasebringyouradmissioncardtoavoiddelayatRegistration.
Shareholders’ right to appoint a proxy Asanordinaryorpreferenceshareholder,youmayappointaproxyorproxiestoattend,speakandvoteattheAGMonyourbehalf.Youmayappointthechairmanofthemeetingoraproxyofyourownchoice,whoneednotbeamemberofthecompany.Ifyoucannotattendthemeeting,youcanappointyourproxytovoteyourshareseitherusingthehardcopyproxyformoronlineatwww.bp.com/evoting.TheBPRegistrar,Equiniti,mustreceiveyourproxyappointmentsandvotinginstructionsby5.30p.m.onTuesday,12April2011.Ifyouareappointingsomeoneotherthanthechairmanofthemeetingasyourproxy,pleaseaskthemtobringyourcompletedadmissioncardorprintedconfirmationofanappointmentmadeonlinewiththemtothemeetingtoavoiddelayatRegistrationwheretheirrighttoadmissionischeckedandverified.Aproxymaynotbringaguesttothemeeting. Ifyouwishtoappointmorethanonepersonasaproxy,pleasecontacttheBPRegistrar,Equiniti,torequestadditionalproxyforms.
Completing hard copy proxy cards and poll cards Proxyformsandpollcardsmustbesignedandanyalterationstothemmustbeinitialled.
Appointments of and instructions to proxies Thedirectorshavelaiddownprocedurestodecideanyunclearproxyappointments.Theirdecisionwillbefinal. Ifmorethanoneproxyistobeappointedtoattendthemeetingtorepresentindividualinterestsandvoteaccordingly,pleasecalltheShareholderHelplineon0800701107oron+44(0)1214157005fromoutsidetheUK. Wherenoinstructiontoaproxyisgiven,eithergenerallyorinrelationtoanyresolution,orifanyothermattercomesbeforetheAGM,yourproxymayvoteathisorherdiscretionorrefrainfromvoting,asheorsheseesfit.Thechairmanofthemeetingwilldecideanyunclearvotinginstructionshereceives.Hisdecisionwillbefinal.
Changes to proxy voting instructions Changestowrittenproxyvotinginstructionsmustbemadeinwritingandsignedbytheshareholder.Tochangeyouronlinevotinginstruction,gotowww.bp.com/evotingandsubmityournewinstructions.Thevotinginstructionreceivedlastwillbetheonethatisfollowed.However,ifapostalinstructionandanonlineinstructionarereceivedonthesameday,theonlineinstructionwillbefollowed.Tobecertainthatchangesareaccepted,theymustbereceivedbyourRegistrarby5.30p.m.onTuesday,12April2011.Thedirectorshavelaiddownprocedurestoresolveanyuncertaintyaboutchangestoproxyvotinginstructions.Theirdecisionwillbefinal.Alternatively,shareholderswishingtochangetheirproxyvotinginstructionsmaydosobyattendingthemeetinginpersonandvoting.
Joint shareholders Jointshareholdersmayattendthemeeting.Anyoneshareholdermaysignaproxyformorpollcardonbehalfofalljointshareholders.Ifmorethanonejointshareholderfillsinaproxyformorpollcard,theinstructiongivenbythefirstofthemlistedonourRegisterofMemberswillprevail.
Nominee shareholders Ifyouholdsharesonbehalfofothers,andsomeofthatholdingistobevotedseparately,youmaydosoeitherbyusingthehardcopyproxyformoronlineatwww.bp.com/evoting.
Vote onlinebp.com/evoting
CREST CRESTmemberswhowishtoappointaproxyorproxiesthroughtheCRESTelectronicproxyappointmentservicemaydosofortheAGMandanyadjournmentbyusingtheproceduresdescribedintheCRESTManual(www.euroclear.com/CREST ).CRESTpersonalmembersorotherCREST-sponsoredmembersandthoseCRESTmemberswhohaveappointedavotingserviceprovidershouldrefertotheirCRESTsponsororvotingserviceprovider,whowillbeabletotaketheappropriateactionontheirbehalf. InorderforaproxyappointmentorinstructionmadeusingtheCRESTservicetobevalid,theappropriateCRESTmessage(aCRESTProxyInstruction)mustbeproperlyauthenticatedinaccordancewithEuroclear’sspecificationsandmustcontaintheinformationrequiredforsuchinstructions,asdescribedintheCRESTManual.AllmessagesrelatingtotheappointmentofaproxyoraninstructiontoapreviouslyappointedproxymustbetransmittedsoastobereceivedbyEquiniti(IDRA19)by5.30p.m.onTuesday,12April2011.ItistheresponsibilityoftheCRESTmemberconcernedtotakesuchactionasshallbenecessarytoensurethatamessageistransmittedbymeansoftheCRESTsystembyanyparticulartime.Inthisconnection,CRESTmembersand,whereapplicable,theirCRESTsponsorsorvotingserviceproviders,arereferred,inparticular,tothosesectionsoftheCRESTManualconcerningpracticallimitationsoftheCRESTsystemandtimings.ThecompanymaytreataCRESTProxyInstructionasinvalidinthecircumstancessetoutinRegulation35(5)(a)oftheUncertificatedSecuritiesRegulations2001.
Powers of attorney Ifyouhavegivenapowerofattorneyoveryourshares,youmustensurethatthepowerofattorneyhasbeendepositedwithourRegistrarby5.30p.m.onTuesday,12April2011.Personsvotingunderapowerofattorneymustdosobyusingthepaperproxyform.
CorporaterepresentativesCorporateshareholdersmayappointmorethanonecorporaterepresentativeandallofthoserepresentativescanattendandspeakatthemeetingandusetheirpowerstovoteindifferentways.Asalways,corporateshareholdersmayalsoappointproxiesandvotebyusingtheenclosedproxyformoronlineatwww.bp.com/evotingorthroughCREST.
NoticeofBPAnnualGeneralMeeting2011 13
ADRholdersADR registered holders IfyouholdBPADRsdirectly,yournamewillappearontheregisterofJPMorganChaseBank(the‘Depositary’)andyouarereferredtoasa’registeredholder’.Registeredholdersatthecloseofbusinesson31March2011ETwillbeentitledtoattend,speakandvoteattheAGM.Ifyoudonotplantoattendthemeeting,youareentitledtoappointaproxytoattend,speakandvoteonyourbehalf. IfyouwanttheDepositarytovoteyoursharesatthemeeting,youmayprovideyourvotinginstructionstotheDepositaryviatheinternet,bytelephoneorbysendinginacompletedADRvotinginstructioncard,asdescribedonthatcard.VotinginstructionsmustbereceivedbytheDepositaryby11.59p.m.ETon11April2011forelectronicinstructionsandbynoonETon12April2011forpapervotingforms. Ifyouwishtoappointsomeoneasyourproxytoattendandvoteatthemeeting,ratherthangivingvotinginstructionstotheDepositary,pleasecontacttheDepositaryimmediatelyon+18776385672toobtaintheappropriateform.Youwillneedtocompletetheformwiththenameofyourproxy,signandreturnittotheDepositarytobereceivedbeforenoonETon12April2011.Furtherinstructionswillbeincludedwiththeform.YouwillalsoneedtogivetheADRvotinginstructioncardtoyourappointeetobringtotheAGM,alongwithproofofhis/heridentity.ProxiesnotnotifiedtotheDepositarymaybedeniedaccesstothemeeting. IfyouwishtoattendtheAGMandvoteinperson,theDepositarywillbepresentatExCeLLondontoverifyyourrighttoattend.Pleasebringproofofyouridentity.
ADR street name holders IfyoudonotholdyourADRsdirectlybutholdthemthroughabank,brokerornominee,youshouldcontactthemforinformationonhowtovoteyourADRs. IfyouwishtoattendtheAGM,youwillneedtobringwithyouevidenceofyourshareownershipintheformofacurrentlydatedletterfromyourbankorbrokerandproofofyouridentity.Onverificationofsuchevidence,youmayattendtheAGMbutmaynotvoteyoursharesattheAGM.
EmployeeshareplanparticipantsOrdinary share plans IfyouholdsharesunderaBPemployeeshareplanwiththeBPSharePlanTrusteesLtd,orinaVestedShareAccount(‘VSA’)withComputershareNominees,youareentitledtoinstructtheTrustee(s)/Nominee(s)tovoteonyourbehalfattheAGM. IfyouhavepreviouslyregisteredtoreceivenotificationoftheAGMelectronically,anemailwillbesenttoyoucontaininginformationabouthowtosubmityourinstructionusingComputershare’se-votingwebsite.Ifyouhavenotyetregisteredfore-deliveryorhaveelectedtoreceivehardcopiesofAGMinformation,ComputersharewillcontactyoubypostandwillincludeapaperFormofDirectionwithwhichtosubmitinstructions.Alternatively,usingtheVotingNumberadvisedtoyou,youwillbeabletousethee-votingwebsite. AllshareplanparticipantsandVSAholdersareentitledtoattendtheAGM.Ifyouattend,youcanstillvoteinadvancebysubmittingyourinstructionasabove.Alternatively,youcanvoteinpersonattheAGMbuttodothisyouwillneedtomakepriorarrangementsbycontactingComputershareInvestorServicesPLCnolaterthanWednesday,6April2011on+44(0)8707036207.TogainentrancetotheAGM,youwillneedtoregisterattheADRholdersdeskandprovideproofofyouridentity.
IfyourequireassistanceinrespectofsharesheldunderaUKemployeeshareplanorinaVSA,youshouldcontactComputershareon+44(0)8707036207.Ifyourequireassistanceregardingsharesheldunderanon-UKplan,pleasecontactyourlocalemployeeshareplanadministrator.
ADR plan participants IfyouareallocatedADRsunderselectedBPorsubsidiaryemployeesavingsplans(a‘Plan’),youarereferredtoasa‘PlanParticipant’.PlanParticipantsarenotregisteredholdersofADRs. PlanParticipantsatthecloseofbusinessETonThursday,31March2011areentitledtoattendandspeakattheAGMbutmaynotvoteattheAGMexceptasvalidlyappointedproxiesforregisteredholders.Ifyouwishtovote,whetheryouplantoattendtheAGMornot,youmustdirectthetrusteeofyourPlanhowyourADRsshouldbevoted. Youmaydirectthetrusteetovoteyoursharesonline,bytelephoneorbysendinginacompletedADRvotinginstructioncard.ThetrusteewilltheninstructtheDepositarytovoteyourplansharesinaccordancewithyourinstructions.VotinginstructionsmustbereceivedbytheDepositaryby11.59p.m.ETon10April2011forelectronicinstructionsandbynoonETon11April2011forpapervotingforms.IfyourdirectionsarenotreceivedbytheappointedtimesfortransmissiontothePlantrustee,thetrusteeisauthorizedtovotetheADRsallocabletoyouunderthePlanatitssoledirection.
IndirectinvestorsFollowingtheimplementationoftheCompaniesAct2006,thereareanumberofrightsthatmaynowbeavailabletoindirectinvestorsofBP,includingtherighttobenominatedbytheregisteredholdertoreceivegeneralshareholdercommunicationsdirectfromthecompany. TherightsofindirectinvestorswhohavebeennominatedtoreceivecommunicationsfromthecompanyinaccordancewithSection146oftheAct(‘nominatedpersons’)donotincludetherighttoappointaproxy.However,nominatedpersonsmayhavearightunderanagreementwiththeregisteredshareholder,whoholdsthesharesontheirbehalf,tobeappointed(ortohavesomeoneelseappointed)asaproxy.Alternatively,ifnominatedpersonsdonothavesucharightordonotwishtoexerciseit,theymayhavearightundersuchanagreementtogiveinstructionstothepersonholdingthesharesastotheexerciseofvotingrights. IfyouhavebeensonominatedtoreceivegeneralshareholdercommunicationsdirectfromBP,itisimportanttorememberthatyourmaincontactintermsofyourinvestmentremainswiththeregisteredshareholderorcustodianorbroker,orwhoeveradministerstheinvestmentonyourbehalf.Youshouldalsodealwiththeminrelationtoanyrightsthatyoumayhaveunderagreementswiththemtobeappointedasaproxyandtoattend,participateinandvoteatthemeeting,asdescribedabove. Anychangesorqueriesrelatingtoyourpersonaldetailsandholding(includinganyadministrationthereof)mustcontinuetobedirectedtoyourexistingcontactatyourinvestmentmanagerorcustodian.BPcannotguaranteedealingwithmattersthataredirectedtousinerror.TheonlyexceptiontothisiswhereBPisexercisingoneofitspowersundertheActandwritestoyoudirectlyforaresponse.
Shareholdernotes
14 NoticeofBPAnnualGeneralMeeting2011
Security
Wedonotpermitbehaviourthatmayinterferewithanyone’ssecurityorsafetyorthegoodorderofthemeeting. Youwillbeaskedtopassthroughoursecuritysystemsbeforeenteringthemeeting.Pleasebeadvisedthatwewillcheckeveryone’sbagorbriefcase. Wedonotpermitcamerasorrecordingequipmentatthemeetingandwewouldbegratefulifyoucouldensurethatyouhaveswitchedoffanymobilephonesoranyotherelectroniccommunicationdevicesbeforethemeetingbegins.Pleasenotethatnofoodordrinkwillbeallowedintothemeeting. Wethankyouinadvanceforyourco-operationwithoursecuritystaff.
Registration
Pleaseremembertobringyouradmissioncardwithyouorforemailrecipients,aprintoutofthenotificationemail.IfyouareanADRholdercomingtothemeetingandholdADRsinabankorbrokeraccount,youshouldbringaletterofidentificationfromyourbankorbrokerconfirmingyourholding(see page 13 for more information).Ifyouhavebeenappointedasaproxybyashareholder,pleasebringalongtheircompletedadmissioncardorprintedconfirmationofanappointmentmadeonline.Pleasenote,ourRegistrarmustreceiveanyproxyappointmentsby5.30p.m.onTuesday,12April2011.Ifyouareattendingasacorporaterepresentative,youwillneedtobringyouradmissioncardwithyouandtheletterofrepresentationappointingyouascorporaterepresentative.
Asking a question at the meeting
Duringthemeetingtherewillbeanopportunityforshareholders,proxiesorcorporaterepresentativestoaskquestions.Ifyouwishtoaskaquestionduringthemeeting,pleasetellanusheronentrytotheauditorium,sothatyoucanbeseatednearamicrophone.
Special needs
Wehavesignlanguageinterpretersatthemeetingandadedicatedhearingloopareawillbeavailable.Ifyouareinawheelchairorinneedofhelpfromacompanion,pleaseletusknowatRegistrationsothatwecanassistyou.
Children
AstheAGMisabusinessmeeting,wesuggestthatitisnotappropriatetobringyoungchildren.Therewillbenocrèchefacilitiesatthemeeting.
Guests
TheAGMisameetingofshareholdersandtheirrepresentativesanditrequiresanadmissioncardtogainentry.However,atthediscretionofthecompanyandsubjecttosufficientseatingcapacity,ashareholdermayenterwithoneguest,providedthattheshareholderandtheirguestregistertoenterthemeetingatthesametime.Proxiesandcorporaterepresentatives,astheyrepresentothershareholders,maynotbringgueststothemeeting.
Cloakrooms
TherewillbecloakroomfacilitiesnearRegistration.WesuggestthatyouleaveyourcoatsandbagstherebeforegoingtoRegistration.Therewillberestroomsavailable.
HowbusinessisconductedatthemeetingDiscussion• Thechairmanwillopenthemeeting,followingwhichtherewill
beapresentationbythegroupchiefexecutive.• Discussionwillthentakeplaceonalltheresolutionscontained
inthisNoticeofMeeting(see pages 2 to 3).ShareholderswillhavetheopportunitytoaskquestionsonBP’sperformanceandbusinesswhenconsideringthefirstresolutionontheBP Annual Report and Form 20-F 2010.
• Pleaseendeavourtokeepyourquestionsshortandrelevanttotheresolutionbeingdiscussed.
• Pleaserememberthatothersmayhavewaitedforsometimetoaskaquestion,sopleasedonotmakespeechesoraskmultiplequestions.Ifyoudotrytogiveaspeech,thechairmanmayaskyoutostandasidesothatotherpeoplemaybeheard.
• Youmayalsowritetousatourregisteredoffice(see page 16)andwewillbepleasedtorespond.Thereisashareholderinformationdeskavailableforqueriesontheday.
• Itisplannedthatanumberofseniorexecutiveswillbeavailableafterthemeeting.
Voting• Votingonalltheresolutionsonpages2to3isbyapoll,asrequired
bythecompany’sArticles.• Yourvotecounts,whetheryoucancometothemeetingornot.
Inaglobalcompanysuchasours,wethinkpollvotingisthefairestapproach.
• Afteropeningthemeeting,thechairmanwillputalltheresolutionstothemeeting.
• Therewillbenovotingontheresolutionsonashowofhands.Shareholdersandproxiesatthemeetingwillbeinvitedtoparticipateinthepoll.
• InaccordancewithUKlistingrequirements,wehaveincludeda‘votewithheld’columnonourpollcard.Avotewithheldisnotavoteinlawandwillnotbecountedinthecalculationoftheproportionofvotes‘for’or‘against’aresolution.
How poll voting works at the meeting• Shareholders,registeredADRholdersandtheirproxiesorcorporate
representativeswillbegivenapollcardatRegistration.• Pleaseindicateyourdecisionbymarkingtheappropriateboxnext
toeachresolution.• Pleasesignatthebottomofthepollcard.
What to do with your poll card• Pollboxesareopenaftertheresolutionsareputtothemeeting.
YouwillfindtheboxesclearlymarkedandlocatedattheexitsfromtheauditoriumandinRegistration.
• Whenyouhavecompletedyourpollcard,pleaseplaceitinapollbox.
• Ifyouneedassistance,ourRegistrar,Equiniti,willbeavailabletoanswerquestions.
• Thepollwillcloseonehourafterthemeetingends.
Poll result• Itisexpectedthatthetotalofthevotescastbyshareholders
fororagainstorwithheldoneachresolutionwillbepublishedonwww.bp.comonMonday,18April2011.
The meeting at ExCeL London
Shareholder notesSeepages12-13
NoticeofBPAnnualGeneralMeeting2011 15
ThemeetingatExCeLLondon
BankGreen Park
Westminster
StratfordLiverpoolStreet
Tower HillTower Gateway
Waterloo
South
wark fo
r
Wate
rloo E
ast
Lond
on B
ridge
Canad
a Wate
r
Greenwich
Lewisham
Canary Wharf
Westferry
Limehouse
Wes
t
Ham
Cannin
g Tow
n
Royal
Victor
ia
Custom
House
for E
xCeL
Prince
Reg
ent f
or E
xCeL
Beckto
n
Wes
t Silv
erto
wnPo
plar
Docklands Light Railway (DLR)National Railway
Jubilee Line
GettingtotheAGMThere are several other large events taking place at ExCeL at the same time as the BP AGM, so public transport may be busy. Please allow plenty of time to arrive at the venue prior to the start of the meeting.
By train
TaketheJubileelineTubetoCanningTownandchangeontotheDocklandsLightRailwayboundforBeckton;alightatCustomHouseorPrinceRegentfordirectaccesstoExCeLLondon.ThereareliftsonthestationplatformstothecoveredwalkwaytoExCeLLondon.ThenearestmainlinestationisLiverpoolStreet;fromthere,traveltoStratfordstationineastLondonwhereyoucantaketheJubileelinetoCanningTownandchangeontotheDocklandsLightRailway.
Special needs
AccesstoExCeLLondonisalonglow-gradientrampsandwalkways.Allrampsarefittedwithhandrailsandbalustrades.Non-slipflooringisusedthroughoutthebuilding.TheliftshaveBrailleandtactilebuttonsatasuitableleveltobereachedbyawheelchairuser.Alimitednumberofcarparkingspacessuitablefordisableddriversisavailable;pleasecontactExCeLLondonforfurtherinformation.Seepage16forcontactdetails.
By road
FollowsignsforRoyalDocks,CityAirportandExCeL.ThereiseasyaccessfromtheM25,M11,A406andA13.ThepostcodeforSatNavpurposesisE161DR.
Parking
UndergroundcarparkinginthepurpleandorangecarparksisavailableonsiteatExCeLLondonandtherearesignpostsandcarparkattendantstohelpdirectdrivers.Thereisalsoamulti-storeycarparkfiveminutes’walkfromthewestentrancetoExCeLLondon.Parkingchargesapplyandallcarparksacceptcoins,notesandcreditcards.
By air
ThenearestairportisLondonCityAirport,whichisfiveminutesbytaxiandlessthan10minutesbyDocklandsLightRailway.
ExCeL London contact detailsSeepage16
London City Airport
River Thames
NorthWoolwich
Road
A112
A112
A13
A117
A1020
A1020
CanningTown
A102
A12
A13
A1206
A406
A124
Connaught Bridge
PrinceRegentfor ExCel
Custom House for ExCeL
RoyalVictoria
FreemasonsRoad
Prince Regent Lane
Western Gateway
Victoria DockRoad
West East
SandstoneLane
16 NoticeofBPAnnualGeneralMeeting2011
ThemeetingatExCeLLondon
KeyinformationandcontactsDocuments available for inspection Thefollowingdocumentsareavailableforinspectionduringnormalbusinesshoursat1StJames’sSquare,LondonSW1Y4PD,UK,andwillbeatExCeLLondonfrom10a.m.on14April2011untiltheconclusionoftheAGM:
• CopiesoftheArticlesofAssociation.• Copiesofdirectors’servicecontractswiththecompany.• CopiesoftheBPShareMatchPlanandtheBPSharesaveUK
Plan2001.
BP p.l.c. 1StJames’sSquareLondonSW1Y4PDUKTel+44(0)2074964000
The BP Registrar EquinitiAspectHouse,SpencerRoadLancing,WestSussexBN996DAUKFreephoneinUK0800701107or+44(0)1214157005fromoutsidetheUKIfyouareanordinaryorpreferenceshareholder,pleasecontactEquinitiifyouwouldliketochangeyourelectiononhowyoureceiveshareholderdocumentsortoreceiveapapercopyofthisyear’spublications.
BP Employee Share Plans BPShareplanTeamComputersharePlanManagersBridgwaterRoadBristolBS996APUKTel08707036207or+44(0)8707036207fromoutsidetheUK
BP ADR Depositary JPMorganChaseBank,N.A.POBox64504StPaul,MN55164-0504USTel+16513064383Toll-freeinUSandCanada+18776385672Hearingimpaired+16514532133IfyouarearegisteredADRholder,pleasecontactJPMorganifyouwouldliketochangeyourelectiononhowyoureceiveshareholderdocumentsortoreceiveapapercopyofthisyear’spublications.
ExCeL London OneWesternGatewayRoyalVictoriaDockLondonE161XLUKTel+44(0)2070695000www.excel-london.co.uk
BP Distribution Services SeabourneGroupLimitedInternationalDistributionCentreCrabtreeRoad,ThorpeEgham,SurreyTW208RSUKTel+44(0)[email protected]
Precision IR [email protected] ForcopiesofBP’spublications,pleasecontactBPDistributionServices(UKandRestofWorld)orPrecisionIR(USandCanada).
AcknowledgementsDesign sasdesign.co.ukTypesetting Orb Solutions, LondonPrinting Pureprint Group Limited,UK, ISO 14001, FSC® certifiedand CarbonNeutral®Photography Graham Trott, Bob WheelerPaper This Notice of Meeting is printed on FSC-certified Mohawk Options 100%. This paper has been independently certified according to the rules of the Forest Stewardship Council (FSC) and was manufactured at a mill that holds ISO 14001 accreditation. The inks used are all vegetable oil based.
© BP p.l.c. 2011