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Shell plc SHEL has reportedly taken a significant step in re-establishing its presence in Venezuela by signing five agreements with the Venezuelan government to advance strategic oil and gas projects. The agreements mark a new phase in the relationship between the energy giant and the South American nation, highlighting the company's growing role in Venezuela's efforts to revitalize its energy sector and attract foreign investment.

The latest deals build on preliminary agreements signed earlier in the year and reinforce Shell's position as one of the first major international energy companies to capitalize on the country's renewed investment opportunities.

Loran Gas Field Takes Center Stage

At the heart of the agreements is Shell's participation in the Loran offshore gas field, a massive reservoir estimated to hold approximately 7 trillion cubic feet (Tcf) of natural gas. The field extends across maritime boundaries shared by Venezuela and Trinidad and Tobago, making it one of the region's most strategically important gas developments.

Venezuelan officials described the agreement as a historic milestone, as it advances the first phase of the Loran field's development plan. The project is expected to play a critical role in unlocking Venezuela's vast offshore gas resources and strengthening regional energy cooperation.

Supporting Venezuela's Gas Export Ambitions

The Loran project, alongside the 4.2-Tcf Dragon gas field in which Shell is also involved, is expected to pave the way for Venezuela's entry into offshore gas exports. Initial supplies are expected to be transported to Trinidad and Tobago, where the gas can be processed into liquefied natural gas (LNG) for international markets.

This development could create a new revenue stream for Venezuela while helping monetize the country's substantial untapped gas reserves. For Shell, the projects offer access to significant long-term gas resources in a region with growing export potential.

Broader Energy Cooperation Beyond Gas

The agreements extend beyond offshore gas development. Shell and Venezuela also reached a technical alliance aimed at expanding production from oilfields in Monagas North. Another pact focuses on procuring equipment and parts designed to reduce gas flaring, supporting operational efficiency and environmental performance.

Additionally, increased oil production linked to Shell's activities is expected to improve the availability of diluents used in producing Venezuela's flagship Merey crude blend and supplying domestic refineries.

Story Continues

Broader Industry Implications

The agreements come amid broader geopolitical and economic shifts, including efforts to revitalize Venezuela's energy sector. They are among the first major expansion deals following reforms aimed at attracting international capital.

At the same time, BP p.l.c. BP is also expected to participate in the Loran gas field and the adjacent Cocuina-Manakin offshore gas project under separate agreements signed with the Venezuelan government in April. BP already has exposure to the region through its Manakin-Cocuina exploration and production license, awarded in 2024. However, U.S. approvals were revoked, prompting BP to lobby for reinstatement.

Chevron Corporation's CVX joint ventures with PDVSA are already producing approximately 260,000 barrels per day — about a quarter of Venezuela's total output. In April, CVX also signed an asset swap agreement with PDVSA, expected to support a potential 50% increase in production over the next two years within its existing footprint.The restructuring also positions Chevron to compete more effectively as Venezuela opens its energy sector to increased foreign investment following regulatory reforms.

A Strategic Win for Shell

The latest agreements elevate Shell, currently carrying a Zacks Rank #3 (Hold), to one of the most important partners of Venezuela's state-owned energy company, PDVSA. Having previously scaled back operations and closed offices in the country, Shell is now emerging as a key participant in some of Venezuela's most significant energy projects.

With the Loran and Dragon developments moving forward, the company is positioning itself to benefit from future gas exports while strengthening its presence in a resource-rich region undergoing a gradual energy-sector revival. The agreements underscore Shell's commitment to pursuing attractive growth opportunities and expanding its role in the evolving global energy landscape.

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Shell announces pause in share buyback programme

June 12, 2026

Further to its May 7, 2026 announcement of the start of a $3.0 billion share buyback programme covering an aggregate contract term of approximately three months (the 'programme'), Shell plc (the 'Company') today announces that, following publication of the ARC Resources Ltd. ("ARC") shareholder circular and due to related securities law requirements that apply to the Company, the programme is suspended from, and including, June 12, 2026 until, and including, market close on July 14, 2026, being the published date of the ARC shareholder meeting. Any buybacks not undertaken due to such suspension will be part of the remaining 2026 programmes (subject to Board approval). The Company will provide a further update if the suspension extends beyond the dates set out herein.

Enquiries:

Media: International +44 (0) 207 934 5550;

U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

Cautionary Note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement "Shell", "Shell Group" and "Group" are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. The terms "joint venture", "joint operations", "joint arrangements", and "associates" may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

Forward-Looking statements

This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as "aim"; "ambition"; ''anticipate''; "aspire", "aspiration", ''believe''; "commit"; "commitment"; ''could''; "desire"; ''estimate''; ''expect''; ''goals''; ''intend''; ''may''; "milestones"; ''objectives''; ''outlook''; ''plan''; ''probably''; ''project''; ''risks''; "schedule"; ''seek''; ''should''; ''target''; "vision"; ''will''; "would" and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc's Form 20-F for the year ended December 31, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, June 12, 2026. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

Story Continues

Shell's net carbon intensity

Also, in this announcement we may refer to Shell's "net carbon intensity" (NCI), which includes Shell's carbon emissions from the production of our energy products, our suppliers' carbon emissions in supplying energy for that production and our customers' carbon emissions associated with their use of the energy products we sell. Shell's NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell's "net carbon intensity" or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell's net-zero emissions target

Shell's operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our combined Scope 1 and 2 target, NCI target and our oil products ambition over the next ten years. However, Shell's operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell's operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

Forward-Looking non-GAAP measures

This announcement may contain certain forward-looking non-GAAP measures such as free cash flow and underlying operating expenses. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc's consolidated financial statements.

The contents of websites referred to in this announcement do not form part of this announcement

We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

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This article first appeared on GuruFocus.

Shell (NYSE:SHEL) is moving deeper into Venezuela's energy comeback story, signing 5 new agreements with the government to push ahead on oil and gas projects.

The main prize is Loran, a huge offshore gas field with about 7 Tcf of reserves. Shell is also already linked to Dragon, another Venezuelan gas project with around 4.2 Tcf. If these projects move forward, Venezuela could start sending offshore gas to Trinidad, where it can be processed into LNG and sold into global markets.

Warning! GuruFocus has detected 5 Warning Sign with SHEL. Is SHEL fairly valued? Test your thesis with our free DCF calculator.

That is a big shift for a country with plenty of resources but years of political and operational setbacks. Shell is one of the few major foreign energy companies moving early after Venezuela opened the door to more investment following the Maduro regime's January ouster.

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Transaction in Own Shares

11 June, 2026

• • • • • • • • • • • • • • • •

Shell plc (the 'Company') announces that on 11 June, 2026 it purchased the following number of Shares for cancellation.

Aggregated information on Shares purchased according to trading venue:

Date of Purchase Number of Shares purchased Highest price paid Lowest price paid Volume weighted average price paid per share Venue Currency 11/06/2026 1,395,700 £ 32.9950 £ 32.4700 £ 32.8174 LSE GBP 11/06/2026 299,500 £ 32.9950 £ 32.4700 £ 32.8147 Chi-X (CXE) GBP 11/06/2026 290,823 £ 32.9950 £ 32.4850 £ 32.8175 BATS (BXE) GBP

These share purchases form part of the Company's share buy-back programme previously announced on 7 May 2026.

In respect of this programme, Goldman Sachs International will make trading decisions in relation to the securities independently of the Company for a period from 7 May 2026 up to and including 24 July 2026.

Any such share purchases will be effected within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes ("EU MAR") and EU MAR as "onshored" into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time ("UK MAR") and the Commission Delegated Regulation (EU) 2016/1052 (the "EU MAR Delegated Regulation") and the EU MAR Delegated Regulation as "onshored" into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.

In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by Goldman Sachs International on behalf of the Company as a part of the buy-back programme is detailed below.

Enquiries:

Story Continues

Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

Attachment

20260611_Shell RNS - full version

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Haftungsausschluss: Der Text wurde mit Hilfe einer KI zusammengefasst und übersetzt. Für Aussagen aus dem Originaltext wird keine Haftung übernommen!

This article first appeared on GuruFocus.

Shell (NYSE:SHEL) CEO Wael Sawan is warning that oil prices may keep moving higher even after the Middle East war ends, with demand likely to stay firm for years.

Speaking at The Wall Street Journal's Leadership Institute CEO Summit, Sawan said prices in the $60 to $70 per barrel range would keep the market stable, but he expects prices to rise over the next 5 to 10 years. His bigger point was that demand is still growing while the easiest oil and gas resources have already been found.

Warning! GuruFocus has detected 3 Warning Sign with SHEL. Is SHEL fairly valued? Test your thesis with our free DCF calculator.

Crude was already moving higher Wednesday as tensions around Iran kept traders on edge. Front month Nymex crude rose 1.7% to $89.76 per barrel, while Brent gained 1.3% to $92.65. Prices also got support after President Trump said Iran had taken too long to negotiate a peace deal and would now have to pay the price.

the takeaway is that oil's upside may not just be about war risk. If demand keeps rising and new supply gets harder to develop, higher crude prices could remain a longer term theme.

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Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide.

Shell (LSE:SHEL) and its partners reported a significant light oil discovery at the Merlin-1X well offshore Namibia, describing it as an improvement on previous drilling results in the area. The company is also playing a central role in Raízen’s record corporate debt restructuring in Brazil, including a commitment to recapitalize the business. Through its involvement, Shell is set to maintain governance influence at Raízen while supporting the company’s balance sheet reset.

For investors watching LSE:SHEL, these updates touch two core parts of the business: upstream exploration and integrated energy partnerships. Offshore Namibia, the Merlin-1X light oil find adds fresh detail to Shell’s exploration work in a basin that has been drawing increased attention from global energy companies. In Brazil, Raízen’s large-scale restructuring highlights how Shell is using partnership structures to remain closely tied to downstream and bioenergy activity in a major market.

Both developments add new information on how Shell is positioning its portfolio across geographies and parts of the energy value chain. As more data emerges on the Namibian resource and the outcomes of Raízen’s recapitalization, investors will be able to reassess how these projects fit with their own risk tolerance and time horizon for Shell exposure.

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5 things going right for Shell that this headline doesn't cover.

The Namibia discovery and Raízen restructuring give you more detail on how Shell is trying to balance new upstream resources with long-term partnerships in important markets. Merlin-1X confirms light oil in a licence where earlier wells already pointed to hydrocarbons, so it adds another potential option in the project queue rather than an entirely new business line. Raízen’s roughly US$12.6b restructuring, backed by fresh Shell capital, keeps Shell closely linked to Brazilian fuels and bioenergy without owning the business outright. Together, these moves show Shell using both operated assets and equity partnerships to secure access to future production and downstream offtake, while still running sizeable shareholder returns such as buybacks in parallel.

Story Continues

How This Fits Into The Shell Narrative

The Namibia find and continued commitment to Raízen both align with Shell’s focus on higher return upstream projects and integrated gas and power, which is a key theme in the existing narrative. Additional capital into Raízen could test how far Shell can keep funding partnerships, acquisitions and a large buyback program at the same time, which is a concern raised around future financial flexibility. The specific exposure to a new African oil basin and a very large Brazilian restructuring is not fully reflected in the narrative, which focuses more on LNG Canada, cost cuts and portfolio pruning.

Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for Shell to help decide what it's worth to you.

The Risks and Rewards Investors Should Consider

⚠️ Execution risk if Merlin-1X and any follow up wells require large development spend in a frontier basin while Shell is already funding deals such as ARC Resources and Raízen’s recapitalization. ⚠️ Credit and governance risk if Raízen’s restructuring does not stabilize its balance sheet as intended, which could pull in more Shell support over time. 🎁 Potential for portfolio-high-grading if Namibia’s light oil resource proves commercially attractive compared with other offshore projects at companies like BP and TotalEnergies. 🎁 Retaining influence at Raízen allows Shell to stay linked to Brazilian fuels and bioenergy demand, which may help diversify cash flow drivers relative to peers focused mainly on upstream barrels.

What To Watch Going Forward

From here, focus on three things. First, how Shell sequences appraisal drilling and any development plans at Merlin-1X, including capital intensity and project economics compared with other offshore options. Second, how Raízen’s leverage, interest costs and cash generation evolve once the restructuring is in place and new capital is deployed. Third, how these commitments sit alongside Shell’s ongoing buyback program and any further portfolio actions in LNG or renewables, especially relative to peers such as BP and Chevron that are also reshaping their project pipelines.

To ensure you're always in the loop on how the latest news impacts the investment narrative for Shell, head to the community page for Shell to never miss an update on the top community narratives.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include SHEL.L.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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At the WSJ CEO Summit in London, Shell CEO Wael Sawan said security and geopolitics have become a "big, big portion of the job" in recent years amid the war in Ukraine and heightened tensions in the Middle East."We've had a cruise missile strike on one of our facilities in Qatar, so there is first and foremost a focus on the security of our personnel," Sawan said.

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Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE.

Why Shell stock is back in focus

Shell (LSE:SHEL) is back on investors' radar after recent share price swings, with the stock now sitting on a year to date gain of 15.3% and a 1 year total return of 27.3%.

See our latest analysis for Shell.

Recent trading has been slightly softer, with the 1 day share price return down 1.9% and the 90 day share price return down 1.9%. However, the year to date share price return of 15.3% and 5 year total shareholder return of 161.2% point to momentum that has built up over a longer period.

If Shell's move has you thinking about where else capital might work hard for you, it could be a good moment to scan 34 power grid technology and infrastructure stocks

With Shell trading at £31.83 and model estimates pointing to higher intrinsic and analyst values, the key question is simple: is the stock still undervalued, or is the market already pricing in future growth?

Most Popular Narrative: 10.4% Undervalued

According to composite32, the most followed narrative puts Shell's fair value at £35.51 per share, above the last close of £31.83, and builds a detailed case around its role in global energy markets.

Shell''s "LNG Outlook 2025" report shows that global LNG trade increased by only 3 million tons in 2024, reaching 407 million tons, indicating limited supply. In contrast, demand, led by China and India in Asia and Europe seeking alternatives to Russian gas, continues to keep the market tight.

While global LNG demand is expected to increase by more than 50% by 2040, delays and uncertainties in bringing new projects (particularly in the US and Qatar) online are creating a period of high prices for existing producers and portfolio players. Shell is not only a producer in this market but also the world''s largest "optimization" player. By taking advantage of price differences (arbitrage) between the Atlantic and Pacific basins, the company has created a profit center independent of commodity prices.

Read the complete narrative.

The fair value hinges on how this LNG engine, the energy solutions business and disciplined capital spend feed into long term margins and cash generation. Curious which revenue mix, profitability assumptions and cash deployment choices sit behind that £35.51 figure and a premium to today's price? The narrative sets it all out, but the key levers might not be the ones you expect.

Story Continues

Result: Fair Value of £35.51 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, this depends on LNG market tightness and data centre power demand remaining strong, while any change in regulation or energy policy could quickly weaken the thesis.

Find out about the key risks to this Shell narrative.

Next Steps

With mixed sentiment around Shell's risks and rewards, it makes sense to review the data yourself and decide quickly where you stand. A good place to start is 5 key rewards and 1 important warning sign.

Looking for more investment ideas?

If Shell has sharpened your focus, do not stop here. Use the screener to quickly spot other opportunities that could fit your goals before the crowd piles in.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include SHEL.L.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Transaction in Own Shares

08 June, 2026

• • • • • • • • • • • • • • • •

Shell plc (the 'Company') announces that on 08 June, 2026 it purchased the following number of Shares for cancellation.

Aggregated information on Shares purchased according to trading venue:

Date of Purchase Number of Shares purchased Highest price paid Lowest price paid Volume weighted average price paid per share Venue Currency 08/06/2026 950,000 £ 32.6550 £ 32.2650 £ 32.4716 LSE GBP 08/06/2026 200,000 £ 32.6250 £ 32.2850 £ 32.4728 Chi-X (CXE) GBP 08/06/2026 50,000 £ 32.6150 £ 32.2900 £ 32.4766 BATS (BXE) GBP

These share purchases form part of the Company's share buy-back programme previously announced on 7 May 2026.

In respect of this programme, Goldman Sachs International will make trading decisions in relation to the securities independently of the Company for a period from 7 May 2026 up to and including 24 July 2026.

Any such share purchases will be effected within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes ("EU MAR") and EU MAR as "onshored" into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time ("UK MAR") and the Commission Delegated Regulation (EU) 2016/1052 (the "EU MAR Delegated Regulation") and the EU MAR Delegated Regulation as "onshored" into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.

In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by Goldman Sachs International on behalf of the Company as a part of the buy-back programme is detailed below.

Enquiries:

Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

Attachment

20260608_Shell RNS - full version

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Die Shell-Gruppe hat eine Pressemitteilung veröffentlicht, in der sie die Ausgabe von Anleihen ankündigt. Die Anleihen sollen zur Finanzierung von Investitionen verwendet werden und haben eine Laufzeit von 5 Jahren. Die Zinsen betragen 2,75 %. Die Anleihen können ab sofort bei verschiedenen Banken gekauft werden.