bp Agrees Sale of Austrian Mobility & Convenience and EV Charging Businesses to Volenergy AG

bp has reached an agreement to sell its mobility, convenience and electric vehicle (EV) charging businesses in Austria to volenergy AG.

This transaction supports bp’s plan to become a simpler, stronger and more valuable company, and reflects its continued focus on disciplined capital allocation.

Richard Harding, interim EVP Downstream at bp, said: “By concentrating our capital on the assets and markets where bp can be most competitive and best serve customers, we are strengthening our balance sheet and creating a stronger downstream portfolio.”

Melanie Milchram-Pinter, head of country Austria at bp, added: “bp has built a strong mobility and convenience business in Austria over many decades and we believe volenergy AG is well placed to take it forward. Our priority now is to support our people, keep serving customers safely and reliably, and manage the transition well.”

The deal includes 250 bp branded retail sites, of which around 115 are company owned and franchise operated, as well as electric vehicle charging infrastructure and the associated fleet business. Retail sites in Austria will continue to operate under the bp brand through a brand license agreement following completion which is expected at the end of 2026, subject to regulatory approvals.

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Notes

• The transaction will be carried out as a share sale, with bp selling 100% of its shares in bp Retail Austria GmbH, subject to regulatory approvals.

• It includes the associated Austrian fleet business and bp’s shares in three non-operated joint ventures (NOJVs): Erdöl-Lagergesellschaft m.b.H., Autobahn - Betriebe Gesellschaft m.b.H., TLM Tanklager Management GmbH, Linz

• The terms of the sale are confidential.

• Of the 250 bp branded retail sites included in the transaction, around 115 are company owned and franchise operated, meaning bp owns the site while a franchisee runs day-to-day operations. The remainder operate under other models, including dealer owned, dealer operated and unstaffed company owned sites.

• The agreement follows the sales of bp’s mobility and convenience businesses in the Netherlands (2025), Türkiye (2024) and Switzerland (2022).

• bp’s aviation business (Air bp) in Austria and Castrol are not part of the sales agreement.

About volenergy AG

• volenergy AG is part of the Volare Group AG headquartered in Suhr, Switzerland, and is one of Switzerland’s leading suppliers of liquid energy solutions.

• The company offers a range of energy solutions including heating oil, road transport fuels, mobility services and fuel cards, as well as convenience and car wash facilities. Going forward, volenergy AG will increasingly expand its portfolio of alternative fuels to help reduce CO₂ emissions.

• volenergy AG operates the largest network of fuel stations in Switzerland, comprising over 730 locations.

• This includes retail sites under the discount brands Ruedi Rüssel and Miniprix, as well as around ~300 sites with a premium offer through the bp brand.

• volenergy AG acquired bp’s Swiss retail network in 2022.

Cautionary statement

In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’), bp is providing the following cautionary statement. This press release contains certain forecasts, projections and other forward-looking statements – that is, statements related to future, not past, events and circumstances which may relate to one or more of the financial condition, results of operations and businesses of bp and certain of the plans and objectives of bp with respect to these items. These statements are generally, but not always, identified by the use of words such as ‘will’, ‘expects’, ‘is expected to’, ‘aims’, ‘should’, ‘may’, ‘objective’, ‘is likely to’, ‘intends’, ‘believes’, ‘anticipates’, ‘plans’, ‘we see’ or similar expressions. In particular, the following, among other statements, are all forward-looking in nature: expectations in relation to the timing and completion of the transaction described including the outcome of regulatory approvals, and expectations in relation to bp’s $20billion divestment programme. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will or may occur in the future and are outside the control of bp. Actual results may differ from those expressed in such statements, depending on a variety of factors including the risk factors set forth in our most recent Annual Report and Form 20-F under ‘Risk factors’. Our most recent Annual Report and Form 20-F is available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.