REVIEW OF PETROLEUM AND LIQUID FUELS CHARTER 2 November 2000 – August 2010

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Agenda

Introductions

Supportive Culture

Ownership and Control Employment Equity

Capacity Building

Procurement

Enterprise Development Socio-Economic Development (CSI)

Conclusion

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Sipho Maseko Chief Executive – BP

Richard Fienberg Chief Financial Officer – BP

Vuyi Raseroka Human Resources Director – BP

Joe Mahlo Head of External Affairs and Communications – BP

Tshidi Madima Executive Director Investments - Mineworkers Investment Company

Sizwe Mncwango Managing Director - Masana Petroleum Corporation

Who is in attendance from BP?

Introductions

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Black people well represented on the board at 48.75%

Black executive directors amount to 20%

Black top management amounts to 50%

Board Transformation Committee

All statistics using the adjusted recognition for gender

We started our transformation journey by cultivating a Supportive Culture

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25% voting rights in hands of black people

Oversight and challenge

Transformation committee

Exposure across the entire value chain

Sells BP and Castrol branded products

BPSA will not compete with Masana and remains an equity partner at all times

Masana majority BEE owned & operated

Regular cash flow with guaranteed minimum returns & upside linked to BPSA performance & MIC/WDB participation

How is MIC/WDB’s equity investment and joint venture in BPSA structured?

Manufacturing

(Refining), Supply, Trading

Commercial &Industrial

LubesRetail

BPSA (Pty) LtdBP75%

MIC17.5%

WDB7.5%

SAPREF &Blendcor

50%

BP45%

MIC24.5%

WDB10.5%

MasanaMgt & Staff

20%

Masana Petroleum Solutions

BEE partnership meets the intent and spirit of the Charter

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Employment Equity & Capacity BuildingAfricans in leadership positions increased from 23% to 51% and females from 8% to 18%

Most senior positions in BP South Africa

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Employment Equity & Capacity Building:A transformed racial profile

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Employment Equity & Capacity BuildingAmbitious plans to redress gender imbalance

9

Procurement: our interventions are bearing fruitProcurement from BEE compliant businesses increased by a compound 33%

Steps Taken In Support of BEE Procurement

• Transformation Committee

set up headed by BEE

Partners – 2001

• Supplier Diversity Manager

role created – 2001

• BEE Procurement Policy

formulated – 2002

• BEE Procurement targets set

for each area of business –

2003

• Appointed Bogosi Consulting

to assist suppliers become

BEE compliant and to rate

them – 2005

• BEE database shared with

SASDA

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Enterprise Development:Role of BP SA in sustainability of Masana

• Funding structure of Masana – R265m• Shareholders loans – BP SA support at R37m; BEE partners at R30m• Raising of RMB loans plus guarantees of approximately R200m

• Product Supply to Masana• BP SA supply product at a discount which is worth approximately R20m/annum• Credit terms of 30D from statement translate to working capital of up to ~R1bn

• Logistics infrastructure and secondary transport• Storage and handling at cost to Masana; access to entire BP SA depot network • Secondary transport – BP fleet delivers to Masana customers nationally• All of Masana’s on-road transport customers have unlimited access to the BP SA retail

network

• Access to both Local and Global expertise• HSSE programmes; Technology (Fuels & Transaction); Strategic Co-operation

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Socio- Economic Development

Over 1.5% net income spent on various community upliftment initiatives

Objective:

Monetary and non-monetary contributions with the specific objective

of facilitating sustainable

access to the economy:

CSI Strategy

Main focus is education on the following themes:

Business leadership & technical development skills

• e.g. Maths, Science & Technology Program in collaboration with

Wits

HIV/AIDS prevention (e.g. Soul City) Road Safety (e.g. Arrive Alive and High School Debating Competition) Environment & Energy (Sea birds rehabilitation through SANCCOB)

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In summary: BP made significant progress…but there remains more to do

• The BP leadership owns the transformation agenda

• The BP BEE partnership with MIC/WDB benefits a broad base

of stakeholders

• The racial profile of the employee population now better

approximates the communities in which we operate

• Our procurement interventions are yielding positive

results

• We have successful Enterprise Development initiatives

• And we continue to invest in Socio-Economic development

initiatives

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Review of Petroleum and liquid fuels Charter

Thank You