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Responding to the changing businessenvironmentIncreased activity in Exploration & Production• Capturing new growth opportunities• Pull through of resources in established basinsForward Agenda: continued focus on costs and efficiency• Capturing stronger business environment in the upstream• Mitigating weaker business environment in the downstream• Closing the competitive gapAlternative Energy• Brazil biofuels• Solar/Wind
<strong>BP</strong> strategy: closing the competitive gap• Upstream growth• Downstream turnaround• Corporate simplification• Alternative Energy growth and equity value
Page 2 and 3: Cautionary StatementForward Looking
Page 5 and 6: Byron GroteChief Financial Officer
Page 7 and 8: Exploration & Production$bnpre-tax1
Page 9 and 10: Sources & uses of cash$bnpost tax20
Page 11 and 12: 1H 2008 strategic progressRestoring
Page 13 and 14: 1H 2008 strategic progressSecuring
Page 15 and 16: TNK-BP performance 2003-7Reserves r
Page 17 and 18: TNK-BP performance 2003-7#1 in Russ
Page 19: Changing business environmentRefini

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