BP PLC 6-KCurrent Reports (8-K / ad hoc)

Basis of Preparation

Basis of preparation The interim financial information included in this report has been prepared in accordance with IAS 34 'Interim Financial Reporting'. The results for the interim periods presented herein are unaudited and, in the opinion of management, include all adjustments necessary for a fair presentation of the results for each period. All such adjustments are of a normal recurring nature. This report should be read in conjunction with the consolidated financial statements and related notes for the year ended 31 December 2025 included in bp Annual Report and Form 20-F 2025. The directors consider it appropriate to adopt the going concern basis of accounting in preparing these interim financial statements. bp prepares its consolidated financial statements included within bp Annual Report and Form 20-F on the basis of United Kingdom adopted international accounting standards and IFRS Accounting Standards® (IFRS) as issued by the International Accounting Standards Board (IASB), IFRS as adopted by the European Union (EU), and in accordance with the provisions of the UK Companies Act 2006 as applicable to companies reporting under international accounting standards. IFRS as adopted by the UK does not differ from IFRS as adopted by the EU. IFRS as adopted by the UK and EU differ in certain respects from IFRS as issued by the IASB. The differences have no impact on the group’s consolidated financial statements for the periods presented. The financial information presented herein has been prepared in accordance with the accounting policies expected to be used in preparing bp Annual Report and Form 20-F 2026, which are the same as those used in preparing bp Annual Report and Form 20-F 2025 . New standards and amendments to IFRS On 1 January 2026, bp adopted the amendments to IFRS 9 ‘Financial Instruments’ relating to the settlement of liabilities through electronic payment systems using the modified retrospective approach. The impact to the interim financial information upon transition was a $ 34 million increase to cash and cash equivalents. Significant accounting judgements and estimates bp's significant accounting judgements and estimates were disclosed in bp Annual Report and Form 20-F 2025 . These have been subsequently considered at the end of this quarter to determine if any changes were required to those judgements and estimates. Considerations in res