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Our impact on theUK economy in 2024 Contents 2024 at a glance Foreword 450 UK jobs; spent £4.6 billion with over2,800 UK suppliers (page 10); andcontributed £11.6 billion to national GDP(page 14), that's 0.41% of UK GDP. witnessing bp’s contributions in action insome of the communities where weoperate. In 2024 we spent over £11 millionwith social investment partners onprojects and programmes, to helpimprove people’s lives. This includesinvestment in programmes that provideSTEM resources and teacherdevelopment, reaching an estimated onemillion students, and a new initiative tocreate urban forests in Scotland(page 35). Social investment Business Economic impact £11.6bncontribution to UK GDP –equivalent to0.41% of UK GDP >£11mspent on social investment 57mmboeof oil and gas produced from ourNorth Sea operated facilities Throughout bp’s long history, we haveevolved and adapted to the times inwhich we operate. As such, earlier thisyear we reset our strategy out to 2027,aimed at growing long-term shareholdervalue and strengthening bp by focusingour investment on our highest-returningbusinesses. Recognizing that globalenergy demand continues to grow, ourstrategy is to increase oil and gasinvestment by around 20% globally, whilefocusing our customer and productsbusiness and investing selectively andwith discipline in the energy transition. >70projects supported >1,150bp retail sites in the UK,including those operated byour dealer partners ~75,000jobs supported – equivalent to1 in every 450 jobsin the UK The UK is our home and we continue tomake a positive contribution to thecountry. ~£1m We’re one of the world’s largest integratedenergy companies, with a purpose todeliver energy to the world, today andtomorrow. We take immense pride in ourUK roots and diverse portfolio, spanningour long-established North Sea oil andgas operations (page 30); our forecourtsand convenience offer including thebp pulseEV charging network (page 32);and our strategic partnerships in carboncapture and storage, lower carbon andrenewables (page 33). >3,500ultra-fast and rapidbp pulsechargepoints across the UK donated by bp’s UK employees,including matched funding fromthe bp Foundation In 2024 I was fortunate to work with bpteams around the UK and see them inaction. For example, we celebrated our60th anniversary in the North Seawhere we continue to invest to bringon new oil and gas projects. In retailwe continue to refresh our stores, andour teams served millions ofcustomers each week. And onTeesside, we continued to progressour hydrogen and carbon capture andstorage projects with our partners in2024, while also helping communitiesseize the opportunities these newindustries present. Louise Kingham CBE £4.6bn spent with2,800 suppliersof operational goods andservices and520 suppliersof capital goods and services Senior vice president, Europeand head of country, UK >33,500hrsvolunteered by our UK employees ~240mEV miles powered bybp pulsein the UK in 2024 Through these operations and more, weplay a significant role in the UK’seconomy. Analysis by OxfordEconomics tells us that in 2024 wesupported an estimated 75,000 jobs(page 14) – equating to one in every In February 2025 bp reset its globalstrategy and you can read more at: What’s more, I had the privilege ofmeeting with our charity partners and bp.com/strategy bp’s impact on theUK economy in 2024 Overview of the economic impact analysis Oxford Economics measures bp’scontribution to the economy acrossthree channels of impact: direct, indirectdue to operational spending, and indirectdue to capital expenditure. bp’s impact along those channels isassessed using these three metrics: Gross value added This is the contribution of a firm to theUK’s gross domestic product (GDP).It is also equivalent to the sum of acompany’s total compensation ofemployees, profits, and taxes onproduction. Written by OxfordEconomics, this section ofthe report measures bp’scontribution to the economy. EmploymentThis is measured on a headcount basis for comparison with Office for NationalStatistics’ employment data. Direct impact Total impact Taxes supportedThis is the value of taxes collected and paid to the UK government. While many economic impact studiesare estimated based only on spendingthat occurs within the country ofinterest, this report goes further byassessing the impact of bp’s globalprocurement activity on the UKeconomy. This is important becausebp’s operations span multiple countries.Oxford Economics’ bespoke GlobalSustainability Model captures spendingwithin countries and across theirborders, facilitating estimates of thebenefits to the UK from bp’s globalsupply chain spending. Direct economic impact bp’s operations directlybenefit all nations andregions in the UK bp’s operations directly benefit theUK economy bp directly contributes significantly tothe UK economy through its wide rangeof operations, which include producinghydrocarbons, running retail stations