Director/PDMR Shareholding

The Company announces that on 8 March 2012, the following share awards (the "Awards") were made to the following Executive Directors of BP p.l.c. under the BP Executive Directors' Incentive Plan (the "Plan"):

DIRECTOR NUMBER OF ORDINARY SHARES OR

ADSs UNDER THE AWARDS

A. Performance Share Award

Mr R Dudley 223,952 ADSs

Mr I C Conn 660,633 ordinary shares

Dr B Gilvary 624,434 ordinary shares

Dr B E Grote 138,156 ADSs

B. Deferred Matching Award (including matched shares)

Mr R W Dudley

compulsory award 36,402 ADSs

voluntary award 36,402 ADSs

Mr I C Conn

compulsory award 161,304 ordinary shares

voluntary award 161,304 ordinary shares

Mr B E Grote

compulsory award 30,546 ADSs

voluntary award 30,546 ADSs

The Performance Share Award

These shares pertain to the 2012-2014 performance period. The number of ordinary shares/ADSs set out above is the maximum number which may vest under the Award. The actual number of ordinary shares/ADSs which vest will depend on the extent to which performance conditions have been satisfied over a three-year period ending 31 December 2014. These performance conditions are consistent with the rules of the Plan, a summary of which is set out in the Directors' Remuneration Report which is contained in BP's Annual Report and Form 20-F 2011. Each Director will be entitled to additional ordinary shares/ADSs representing the value of reinvested dividends on those ordinary shares/ADSs which vest.

The Deferred Matching Award

This is a conditional award consisting of one-third of a director's annual bonus which is required to be deferred into ordinary shares/ADSs (the "Compulsory Award") and any further portion of the director's annual bonus up to an additional one-third which the director may choose to defer into ordinary shares/ADSs (the "Voluntary Award"). Both the Compulsory Award and Voluntary Award are matched on a one-for-one basis (with the matched shares included in the Deferred Matching Awards referred to above) and will vest depending on the Remuneration Committee's assessment of the Company's safety and environmental sustainability over a three-year period, commencing on 1 January 2012 and ending on 31 December 2014. These performance conditions are consistent with the rules of the Plan, a summary of which is set out in the Directors' Remuneration Report which is contained in BP's Annual Report and Form 20-F 2011. Each Director will be entitled to additional ordinary shares/ADSs representing the value of reinvested dividends on those ordinary shares/ADSs which vest.