BP Prudhoe Bay Royalty Trust (the "Trust") was created as a Delaware business
trust by the BP Prudhoe Bay Royalty Trust Agreement dated February 28, 1989 (the
"Trust Agreement") among The Standard Oil Company ("Standard Oil"), BP
Exploration (Alaska) Inc. ("BP Alaska"), The Bank of New York Mellon (formerly
named The Bank of New York), as trustee, and F. James Hutchinson, co-trustee
(BNY Mellon Trust of Delaware, formerly named The Bank of New York (Delaware),
successor co-trustee). BP Alaska and Standard Oil are wholly owned subsidiaries
of BP p.l.c. ("BP").
Effective as of December 15, 2010, The Bank of New York Mellon ("BNYM") resigned
as trustee under the Trust Agreement and BP Alaska appointed The Bank of New
York Mellon Trust Company, N.A. (the "Trust Company") to succeed BNYM as
trustee. The Trust Company accepted its appointment and assumed all rights,
titles, duties, powers and authority formerly held and exercised by BNYM under
the Trust Agreement.