Carol Howle
Set out below are the remuneration arrangements for Carol Howle in connection with her stepping down as interim CEO and as an executive director, effective from 1 April 2026. The arrangements are consistent with the company’s shareholder-approved directors’ remuneration policy.
From 1 April 2026, Carol will step down as a member of the bp board and assume the role of Deputy CEO in support of an orderly transition with the incoming CEO.
Carol will remain eligible for a pro-rata annual bonus in respect of her service as interim CEO in the 2026 financial year, subject to the achievement of the relevant performance conditions. The portion of the 2026 bonus in respect of her role as interim CEO will be subject to deferral requirements in line with policy.
She will remain eligible to receive a 2026-28 EDIP grant, which will vest subject to the achievement of the relevant performance conditions. Her deferred bonus share awards under the EDIP will also vest in full on the normal dates. Carol’s bonus and share awards will continue to be subject to the company’s malus and clawback policy.
There are no other remuneration payments in relation to Carol stepping down as a director of the company.
The above information is provided pursuant to section 430(2B) of the Companies Act 2006. Further disclosure (including on the quantum of any bonus payment and the level of vesting of the performance share awards) will be included as required in the company’s directors’ remuneration reports.
