The hidden driver: Lubricant’s role in reducing fleet total cost of ownership (TCO) as industry trends shift in Asia Pacific

Title: {The hidden driver: Lubricant’s role in reducing fleet total cost of ownership (TCO) as industry trends shift in Asia Pacific}

Duration: 00:41:36 minutes

Description

{A panel of experts from Shell and Frost & Sullivan discuss how high-performance lubricants can reduce Total Cost of Ownership (TCO) for commercial road transport fleets amidst evolving economic and regulatory trends in the Asia Pacific region.}

The hidden driver: Lubricant’s role in reducing fleet total cost of ownership (TCO) as industry trends shift in Asia Pacific Transcript

[Background music plays]

{Upbeat, rhythmic instrumental electronic music with a driving beat plays.}

[Visuals]

{A countdown timer graphic appears in the centre of the screen, counting down from 02:00. The background image shows a medium shot of two men, one kneeling and one standing, wearing safety vests and hard hats, seemingly inspecting a large white truck in an industrial or logistics yard setting. A yellow text box overlays the countdown.}

[Text displays]

{LinkedIn event starting soon

SHELL LUBRICANT SOLUTIONS

Shell Pecten logo in the bottom right corner}

[Visuals]

{The countdown timer continues to tick down. The background image remains the same. As the timer reaches 00:00, the screen transitions. A graphic appears on the left side showing the two men by the truck again.}

[Text displays]

{LinkedIn event

The hidden driver: Lubricants’ role in reducing fleet total costs of ownership (TCO) as industry trends shift in Asia Pacific

Tuesday 25th November}

[Visuals]

{The screen transitions to a bright yellow background with road markings and small illustrated icons of trees and a truck driving. A large white box appears in the centre containing legal disclaimer text.}

[Text displays]

{Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this content “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to 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 content refer to entities over which Shell plc has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. 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 content 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”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “milestones”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “schedule”, “seek”, “should”, “target”, “will” 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 content, 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) reserve estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (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, fiscal and regulatory developments including 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, such as the COVID-19 (coronavirus) outbreak; and (n) 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 content 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, 2022 (available at www.shell.com/investor and www.sec.gov

). These risk factors also expressly qualify all forward-looking statements contained in this content and should be considered by the reader. Each forward-looking statement speaks only as of the date of this content, Tuesday 25th November 2025. 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 content.

Shell’s net carbon intensity

Also, in this content we may refer to Shell’s “Net Carbon Intensity”, 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 only controls its own emissions. The use of the term Shell’s “Net Carbon Intensity” 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, outlook and budgets are forecasted for a ten-year period and are updated annually. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Intensity (NCI) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCI target, as these are outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans 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 content may contain certain forward-looking non-GAAP measures such as capital expenditure and divestments. 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 content do not form part of this content.

We may have used certain terms, such as resources, in this content 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

.}

[Visuals]

{The screen cuts to a video feed of a man sitting in a home office.}

[Text displays]

{Andrew Gibson

Moderator

Global Sector Marketing Manager, Fleet, Shell}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Hello, and welcome. Thank you to everybody for joining us. My name is Andrew Gibson, and I’m the Global Sector Marketing Manager for Fleet at Shell. And I will be the host and moderator for today’s LinkedIn event entitled, ‘The hidden driver: Lubricants’ role in reducing fleet total costs of ownership (or TCO) as industry trends shift in Asia Pacific’. I’m delighted to be joined today by Ajay Agarwal and Mubarak Moosa for today’s discussion. Before we begin, could I please ask that Ajay and Mubarak to please introduce yourself?}

[Visuals]

{The screen cuts to a different video feed of a man wearing a headset.}

[Text displays]

{Ajay Agarwal

Product Application Specialist

Shell India}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Hi, Andrew, thanks. It is great to be here today. I am Ajay Agarwal. I am Product Application Specialist for heavy duty and automotive sector in India and Asia Pacific. I work with OEMs and customers to understand the challenging requirements and then follow through product development and ensure those solutions are implemented in fields. Thank you.}

[Visuals]

{The screen splits to show Andrew Gibson, Mubarak Moosa, and Ajay Agarwal.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

Thank you, Ajay. And Mubarak, if I could ask you to introduce yourself, please?

[Visuals]

{The screen switches to a full-screen feed of Mubarak Moosa.}

[Text displays]

{Mubarak Moosa

Associate Partner

Frost and Sullivan}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Thank you, Andrew. Hello everyone. My name is Mubarak Moosa. I work in a firm called Frost & Sullivan. We advise companies on their growth. I specialise primarily on the automotive sector which also covers commercial road transportation. And on a daily basis, we track the market development, we cover various trends including macroeconomics, technology evolution, product development, new product launches, OEM strategies, the regulatory and policy changes, as well as voice of fleets. Happy to be on the call, happy to join you guys and share our insights.}

[Visuals]

{The screen splits to show all three speakers again.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, Mubarak. And welcome to our event today. So, as I said, we’re here today to discuss how fleet operators can remain competitive, lower their total cost of ownership, as the commercial road transport sector in Asia Pacific region rapidly evolves.}

[Visuals]

{The screen transitions to a yellow graphic slide.}

[Text displays]

{Agenda

CRT fleet trends and insights

Fleet operator challenges and lubricant solutions

Lubricants: fact vs. fiction

Accelerating into the future

Q&A and final takeaways}

[Visuals]

{Video feeds of the three speakers appear at the bottom of the slide in small squares.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{So looking at our agenda today. We’ll firstly start with the macroeconomic trends that shape the commercial road transport industry. Then we’ll look at the real-world challenges of fleet operators and how specifically lubricants can help them. After that, we’ll separate fact from fiction, especially when it comes to lubricants, before discussing what the future looks like for the industry. And of course, we’ll leave some time at the end for questions. So for our audience today, you can ask questions by leaving comments below at any time during the session. With that, I think we’re ready to begin today’s discussion.}

[Visuals]

{Transition to a yellow title slide.}

[Text displays]

{01

CRT fleet trends and insights}

CRT INDUSTRY TRENDS AND INSIGHTS 

[Visuals]

{Video feeds of the speakers are below the title.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{As we’ve noted, the fleet industry is evolving at quite a fast pace globally. Especially in the APAC region, operators are experiencing fast growth, but also tighter regulations and rising costs. All of these changes mean it’s more and more important than ever that fleet operators and managers ensure their fleets are fit for the future. So, Mubarak, I’d like to start with you. From a Frost & Sullivan perspective, could you tell us what the key macroeconomic trends and insights that you are seeing in the commercial road transport industry right now? Let’s start with the economics of the region.}

[Visuals]

{Full-screen video feed of Mubarak Moosa.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Thank you, Andrew. I think it’s a good way to start the conversation. Um, from an economical standpoint, uh, the... the economy in countries in the Southeast Asian part covering India, China, Indonesia, isn't just growing, they're accelerating. If you look at the... the GDP figures of the ASEAN 10 countries, our analysts in the macroeconomic team, they expect the growth to be on an average of 4.6% by 2030. And interestingly, you know, if you look at country like India, our analysts in the macroeconomic team expect the GDP average to be around 6.5% between 2024 to 2030. The interesting part here, Andrew, is the... the CRT, the... the commercial road transport, will be part of this growth story. As you know, you know, the trucks on road, they account for around 10 to 12% of the... of the GDP. So overall, we expect to see the growth in the economy to be driven partly by the... the movement of goods, the movement of people, and truck will be part of this growth story overall.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Excellent. Thank you. And moving on to the next question, where do you see that biggest impact of the growth coming from? And where will it show up in the freight and road transport sector? Is it about overall demand? Is it about infrastructure being built to support it? Is there something else in the mix?}

[Visuals]

{Full-screen video feed of Mubarak Moosa with smaller feeds of Andrew and Ajay to the left.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Um, right. Like you rightly pointed out, Andrew, we expect growth from two areas. One is the infrastructure development and second is the new logistics demand. Now talking about infrastructure development, we all know the government in these emerging economies are sinking massive capital in infrastructure project. For example, if you look at India, so we have the Bharatmala project, which is... which is translated into the... the India Garland project. Under which, uh, the government is planning a massive highway development. In... in phase one of this project, around 34,800 kilometres of highway is expected to develop. And similarly, we also see other infrastructure projects, for example if you look into Indonesia, we have this Nusantara capital project where they're expecting to move the capital from Jakarta to this newly developed city expected to be completed by 2045. So these infrastructure development demand trucks for the movement of goods. And similarly, if you look at new logistics, you know, we... we all know e-commerce has become a norm since COVID. We all order online, and we want our goods to be delivered the same day, the next day. Similarly, we all need uh, you know, fresh food. If you look at pharmaceutical sector, they have stringent temperature control transportation requirements. So all in all, if you see, you know, these assets, these... reefer trucks, these are all uh, you know, high-cost assets, they need to be managed very well. So in a... in a long story short, the... the infrastructure development as well as the new logistics development, this will drive new truck demand in these countries, Andrew.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, Mubarak. And... one thing I'd like to ask further is, we've seen a lot of changes in infrastructure, we've seen a lot of changes in demand. What I'd like to... just delve deeper about, could you talk about the fleet specifications, or really the fleet specifications driven by the regulations in the region? I think that having an important impact, perhaps you could share some insights on that.}

[Visuals]

{Full-screen video feed of Mubarak Moosa with smaller feeds of Andrew and Ajay to the left.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Andrew, we discussed about new trucks to be on road. And I... we believe the... the specification of the trucks would be, you know, decided by two key factors. One is the technological advancement and second is the regulatory aspect. Talking about the regulatory aspect, you know, many countries in these markets are adopting new regu... new emission regulations. For example, if you look into India, they have already implemented the Bharat 6 regulations, which is equivalent to the Euro 6 in... in Europe, which is gonna drive demand for cleaner trucks with new specifications, new technology into it. We also see growing expansion of Chinese OEMs, and when they launch their vehicles, they come with new specifications, including electronics connectivity. And apart from that, we'll also can expect, you know, government in many of these countries like India and other Southeast Asian markets to also consider looking into uh, you know, ZEV, Zero Emission Vehicle norms, especially on the urban transportation. So all of this put together would drive, you know, demand for new trucks on one side as well as drive new specifications in these markets primarily.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Excellent. Thank you. And very, really helpful context for us today. So... just really to summarise what we've heard, we see growth in construction, in infrastructure, and increasingly the region becoming more and more interconnected. I think an important point there. As I say, we discussed e-commerce on the rise, supply chains and supply models are changing, consumer behaviour is changing. And the result of that is more and more heavy trucks are being sold, of higher weight, and newer trucks entering the market. And balancing this growth, we have environmental regulations, changes which are necessitating the design, the specification of trucks into the marketplace. So... really interesting context.}

[Visuals]

{Transition to a yellow title slide.}

[Text displays]

{02

Fleet operator challenges and lubricant solutions}

[Visuals]

{Video feeds of the speakers are below the title.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{What I'd like to do now is really pivot and talk about the... really the trends that are playing out when it comes to fleets....}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{...their TCO, and how lubricants fits into that equation. So, the first pivoting over to Mubarak. So really, Mubarak, could you tell me a bit more about the key challenges and opportunities operators face today? Let's start with the... the fun part, the challenges for fleet operators.}

FLEET CHALLENGES & LUBRICANT SOLUTIONS

[Visuals]

{Full-screen video feed of Mubarak Moosa with smaller feeds of Andrew and Ajay to the left.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Andrew, this is a million-dollar question. Uh, but to answer that, you know, let's start with the basics. We all know if you look at a fleet manager or fleet operator, he has a constant battle to maintain profitability and efficiency in a growing, rapidly changing operational environment. And in this context, you know, the Total Cost of Ownership, that's the final measure of the... the financial health of the fleet performance.}

[Visuals]

{The video feed moves to the left side of the screen. A yellow text box appears on the right side with a pie chart.}

[Text displays]

{Class 8 Commercial Vehicles’ Total Cost of Operations for Long Haul Application, North America}

{Pie chart showing cost breakdown: 55% Fuel, 20% Driver, 10% Maintenance, 7% Tires, 6% Other, 2% Insurance}

{The Total Cost of Ownership (TCO) is the ultimate measure of a fleet’s financial health. Leaving aside the driver pay, the most significant component of TCO is fuel expense, with estimates often reaching 55% or more of a company’s running budget.

Source: Frost & Sullivan}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{And if you look at various components, we know apart from the driver wages, the fuel cost is a primary one. It can... it can go up to or account up to 55% of the total cost of ownership of a truck in... in case of a long-haul truck in countries like US. Uh, but in... in the context of the countries that we're talking about in Asia Pacific, it can be somewhere between 35 to 45%. And we all know the fuel price has been increasing in the last few years by due to various macroeconomic factors. After the fuel cost, the next important cost is the maintenance cost. And this particular element, cost element has also been impacted and has been increasing in the last few years. Again impacted by various macroeconomic elements like inflation, new technology, new which means new parts, new types of pa... parts. And also we see labour shortage, mechanic shortage, all of that impacting the maintenance. So overall if you see Andrew, it's important we look into how the fleets maintain their trucks. I mean, if the trucks break down in a... in a... in an unexpected way, this can primarily impact the... the revenue, it can... it can be opportunity costs, and sometimes they can also have penalties facing them. So it's important for the the truck owners to maintain these fleets. And what we've seen is there are larger fleets, especially in the Western developed economies, they have a lot of fleet management practices, they use digital technologies. But now in the context of APAC countries, the... the critical aspect is a lot of... a very high share of fleet owners are primarily, you know, owner-operators. So they are yet to adopt any of these, you know, fleet management practices. But and as they adopt, we believe, you know, they can overcome these kind of challenges overall.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Excellent. And just to continue, you know, we talked today about many challenges. But I think what our audience and people are asking us very much more is, what are the opportunities for fleet operators to help manage these challenges?}

[Visuals]

{Full-screen video feed of Mubarak Moosa with smaller feeds of Andrew and Ajay to the left.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{That's a good question as well. Talking about opportunities to overcome challenges, there are multiple ways to do that. But more important is to maintain your truck, starting with looking at the lubricant policy, the type of replacement for lubricants. And this is where I believe fleet management practises comes quite handy. Talking about fleet management, I mean, we have seen fleets evolving beyond, you know, traditional approaches using digital technologies, connected technologies.}

[Visuals]

{A graphic slide appears on the right side of the screen displaying a chart titled "Evolution of Connected & Digital Solutions in Commercial Vehicles". The chart shows a progression from 2020-2035 with numbered steps.}

[Text displays]

{Evolution of Connected & Digital Solutions in Commercial Vehicles

2020-2035

1

Operations & efficiency

Order management

Business intelligence reporting

Trip management

Proof of delivery

Active navigation

Routing & scheduling

2

Driver-related

Driver assistance (Mobile Apps)

Driver scorecard

Driver training

Driver ID

3

Safety & compliance

Stolen asset tracking

eCall

Engine immobilizer

Critical event recording

Hours of service

Video safety

4

Location & vehicle based

Emission control

Preventative Maintenance

Predictive Maintenance/Prognostics

Fuel Monitoring

Location based (GPS track & trace)

2015-2020

5

Logistics integration (load)

Data analytics / business intelligence

Freight matching/Digital /On Demand

Warehouse Mgmt. Integration

Asset Optimization

TMS

6

Orchestration platform

Standardized Interface across all Brands

HI & AI Agile Logistics

Sustainability and Eco-Logistics

EV Fleet & Charge Management

Autonomous Freight Mobility

2020-2035

Where we are today

Source: Frost & Sullivan}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Connectivity and digitalisation is very close to my heart. I started my career at Frost looking into connected vehicles, but over the years I have seen this particular sector evolve from being just used for track and trace, but more into fleet management purposes. And in this context, fleets are increasingly using it to look into maintenance aspects as well. They are able to look into predictive maintenance to avoid being reactive, avoid even sometimes avoid looking to scheduled maintenance, but more into say predictive maintenance. And this has become a prime factor in the future, not just from predictive maintenance, also to support in remote diagnostics as well. So there are a lot of application areas. I believe an effective fleet management approach is one area that could support fleet managers overall.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thanks, Mubarak. We know that managing the Total Cost of Ownership is paramount for many of our customers and to fleets. So, Ajay, how can lubricants help to address these challenges? In particular, how can it help fleets reduce their total cost of ownership?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Yeah, thanks, Andrew. I agree with the challenges outlined by Mubarak. Here, we have seen product like 10W-30, 10W-40 can offer fuel economy of 1 to 2%. We have also seen in field product like FA-4, 10W-30 have offered even higher fuel economy. That... that is like about close to 2.5 plus percent. That saves a lot of money. Coming to the second element of TCO which is downtime. Where breakdown can really cost a lot of money in terms of maintenance cost as well as the downtime cost.}

[Visuals]

{The video feed moves to the left side of the screen. A yellow text box appears on the right side.}

[Text displays]

{A leading public transport and delivery services company in Indonesia sought to lower TCO and extend engine life amid high daily mileage.

Shell Rimula R4 X 15W-40 was recommended for its proven protection against biodiesel-related changes in Indonesia, helping extend engine life from 500,000 km to 900,000 km and delivering estimated savings of USD 43,372.13 per year.}

{Shell Rimula R4 X 15W-40 Technical Datasheet, v 5.4, 2023}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{One of our customers in Indonesia, you can see on the screen, they have extended the engine service life from 500,000 kilometre in general to 900,000 kilometre. And they saved lot of money and lot of efforts to overhaul the engine while using Rimula R4 X. High performance lubricant also can offer longer ODI.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thanks, Ajay. When we talk to customers, TCO is always top of mind. But also hearing that some are interested in lowering their fleets emissions too. So question: How can lubricants help to reduce CO₂ emissions?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Yes, CO₂ is... is very much in focus from transport sector because transport is one of the biggest contribution... contributor of CO₂ generation and has it is very much in focus. We have a... seen that lowering viscosity from 10W-30 and 10W-40 from conventional 15W-40 can reduce internal friction in engine and hence reduce the fuel consumption. Re... reduction in fuel consumption leads to lower CO₂ because you burn less fuel and hence less CO₂ generation.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, Ajay. One question I’d like you to... to touch on further is the transition in the India market to Bharat Stage 6. That is the first market to transition in the Asia region to the new Euro 6 norms. And just like to touch on some insights and learnings from that change into the marketplace.}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Uh, so it was a very interesting case for India. India did not have Bharat Stage 5 which is equivalent to Euro 5. So India switched or leap-frogged from Euro 4 equivalent which is Bharat Stage 4 to BS 6 which is Euro 6 equivalent. And hence in that process entire ecosystem has to be adapted to that including OEMs and and associate suppliers etcetera. So, in terms of lubricants and other fluids to... to the engine, first of all lubricant has to be all low SAPS CK-4 lubricants which should be able to protect the engine after treatment devices like DOC, the SCR and the DPF. But also protect the engine because you are reducing the... the chemist... you are reducing the overall treat level of additives. Second thing is durability is very important here since the technology got change, TBN and ash level gone down, and hence protection of engine has to be ensured. By this, we also have seen because CK-4 brings lot of benefits, the oil drain interval also have gone up. Conventionally there was a lower ODI of engine oil in India, now with the advent of CK-4 it has gone up.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Excellent. Thank you, Ajay. And... really just to summarise what we've heard: we see that lubricants perhaps are a small part of overall spend, but they are a big lever for TCO, fuel economy and compliance. But looking at the fuel specifically, you know, that contributes to a significant amount of the fleet's total operating budget. Up to half of their budget in some cases. It is no wonder that owners, operators, fleet operators are looking at cutting those TCO. But what... what we do see is that the impact of the lubricants and lubricant technology is often overlooked. And perhaps this is often due to some myths, misconceptions, misunderstandings into the marketplace about their effectiveness, their impact, and also which lubricant is the right choice for which application. What... what we do see and looking at our own experience within Shell, Shell Rimula, our HDDO product and other Shell Driveline products such as Shell Spirax, when we look into our customer database across Southeast Asia, we see that they've unlocked over 6 million dollars in annual savings. In fact, many customers report savings exceeding a hundred thousand dollars per fleet and that comes from reduction in maintenance cost, reduction in downtime, and improved fuel efficiency. So significant numbers are available and significant benefits can be seen just through the change and the choice of your lubricant technology.}

LUBRICANTS: FACT VS. FICTION

[Visuals]

{Transition to a yellow title slide.}

[Text displays]

{03

Lubricants: fact vs. fiction}

[Visuals]

{Video feeds of the speakers are below the title.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{So to support that, for the next few minutes, I just want to start to separate some facts from fiction. So we can gain a clear understanding where the details are in that. So my first question to you, Ajay: Lower viscosity oils or thinner oils don't protect the engine as well as traditional products, traditional 15W-40 products. It is less risky to stay with the traditional grades. Is that true or false?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{It is false. Because you know, you lose the benefit of of fuel economy coming from lower viscosity compared to 15W-40. Modern CK-4 low viscosity engine oil provide equivalent or in fact better protection to withstand higher load and the heat. Ultimately, there is a right lubricant depending on your engine and vehicle, that's important to remember.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, Ajay. And here's the next question. Lubricants don't really impact fuel efficiency. It's just a maintenance issue. Is that true or false?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Ah, it is false again. You know, as per Shell trials, we found that, you know, a 10W-30 or 10W-40 lubricant can contribute to about 1 to 2% fuel economy versus a 15W-40 engine oil. And if you don't, you know, take the benefit, you're missing out. For a hypothetical example, if a fleet of 30 vehicle in Malaysia which is currently on 15W-40, switch to Rimula R5 LE 10W-30 which save about 2% fuel economy, can save about 16,000 US dollars annually on fuel cost alone.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Great. Thank you, Ajay. And then the last question: CK-4 is only for newer engines and fleets. I cannot use a traditional 15W-40 or CI specification in a new Euro 6 compliant engine. And the answer to that one is True. CK-4 oils are mainly designed for new engines and fleets. Older technology products such as CI-4 or CH-4 specification have higher levels of sulphated ash, phosphorus and sulphur, or SAPS, which can cause problems in modern after-treatment systems such as Diesel Particle Filter and SCR, Selective Catalytic Reduction systems. So CK-4 oils are... are the new oils and you cannot put the older technology CH or CI-4 specifications in these new Euro 6 specification vehicles.}

ACCELERATING TO THE FUTURE

[Visuals]

{Transition to a yellow title slide.}

[Text displays]

{04

Accelerating into the future}

[Visuals]

{Video feeds of the speakers are below the title.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{We're now gonna move on to the third part of the webinar entitled, Accelerating to the Future. So, let's... let's start to look ahead, look to the future. The first question of that goes to Mubarak. So Mubarak, how do you see the fleet industry changing in the future?}

[Visuals]

{Full-screen video feed of Mubarak Moosa with smaller feeds of Andrew and Ajay to the left.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Andrew, um, we briefly touched upon a few points to answer this question earlier. As I mentioned earlier and we discussed a lot about the macroeconomic drivers and how truck would be part of that growth story. And in this context, you will increasingly see uh, you know, truck sales. And what is important here as we discussed earlier is the specification of the trucks. And as I said earlier, new technologies driven by the technology evolution one, product launches, new players in the market like the Chinese entrants, Chinese OEM entrants with their products, with their technology, and also the regulation has a play there. Regulations in terms of Euro 6, many countries are evaluating adopting Euro 6 in this region. India has already done that. And also countries are evaluating use of battery electric vehicles, especially for urban goods delivery. So all of this will have a play in terms of the... the vehicle spread. And what we can expect to see going forward, Andrew, is that we will see a lot more, you know, diverse spreads. So you'll have the older vehicle parc, on top of that you have this new specification, new technology parc. So it's essential for fleet managers and fleet operators to have a good partner who can support them to manage this diverse parc. Even if you take for example lubricants, they should have a right partner who can provide them with a consolidated lubricant strategy to support them with say the historic, the older parc, the newer parc, and also looking into offering them this, you know, higher technology lubricants including e-fluids. So, it's gonna be exciting times coming forward and the fleet managers should plan for their vehicle maintenance strategy primarily.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, Mubarak. And... and now, now a question for... for you, Ajay. To talk about, could you give us some examples how Shell is preparing for the changes that Mubarak's just articulated?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Uh, yeah, I think it's very interesting field for us. Because we keep working for future, always. So we keep working with all the OEMs on regular basis to understand what kind of future technologies they develop, and future vehicles they plan to develop into co-engineering kind of work with them. And that gives us perspective of understanding the lubricant requirement. Then we also work with global bodies like API. Like PC-12 is coming up after PC-11. PC-11 you know brought CK-4 and FA-4 oils to us. And PC-12 will bring CL-4 and FB-4 oil. And then we keep doing our own innovation on low viscosity fuel economy engine oil and the low SAPS technologies to match the OEM's requirement. We also have lot of learnings coming from Euro 6 and Bharat 6 and China 6 in Asia Pacific to give us the baseline so that we improve the technology from now to... for the future. And... and to meet the Shell's goal of supporting decarbonisation and ensuring durability and... and cost efficiency.}

AUDIENCE Q&A

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, Ajay. Thank you, Mubarak, for sharing your insights, your very valuable perspectives, and I hope that like me the audience found this conversation very interesting. But I'm also keen that our audience is keen to get involved. So it's now time to answer some of their questions. As a reminder, these questions have been posted by our audience via the comments in the LinkedIn.}

[Visuals]

{Transition to a yellow title slide.}

[Text displays]

{05

Q&A and final takeaways}

[Visuals]

{Video feeds of the speakers are below the title.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Looking at the questions we received, some great questions from the audience. So, first question for Ajay: How can fleet operators quantify the real impact from lubricants on their total cost of ownership?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{The real impact can come from three aspects, major aspects. First is the fuel economy. If they can reduce the fuel consumption, that is huge saving as we have seen in challenge. Second thing is the downtime and the durability of equipment. A lot of money can be saved from downtime using good lubricant, and the uptime also can be brought up to the higher level by using a right lubricant. And third thing is the longer ODI, which is quite easy to monitor through scientific monitoring of the equipment. If longer ODI, can get better total cost of ownership.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Excellent. Thank you. And the next question from our audience is: As fleets across the region modernise, what are the biggest mistakes operators make when updating their maintenance strategy? So first I'll ask that question to both of you gentlemen. So I'll start with Mubarak and then come to you, Ajay.}

[Visuals]

{Full-screen video feed of Mubarak Moosa with smaller feeds of Andrew and Ajay to the left.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Okay. Yes, we discussed about the fleet specifications to change, and what would happen, Andrew, going forward is you'll have this mixed fleet, the mixed fleet of older parc and newer parc. And from a mistake standpoint, it might be the case that the fleets would need to adopt new fleet management approaches to maintain this diverse spread. So it's not sticking on to the older practises, but open enough to innovate, look into new partners, look into new technologies, and of course should have a very strong consolidated lubricant strategy for this diverse spread, Andrew.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you. And same question to you, Ajay.}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Yeah, I think just to add on what Mubarak has mentioned because the fleet is modern, and for modern fleet, you need different kinds of maintenance strategy. There's a lot of electronics, lot of onboard diagnostic and telematics would help in doing a lot of information. We don't utilise those information and then go on the same schedule maintenance or breakdown maintenance, then would be a wrong choice for maintenance. You will not be having right total cost of ownership. Another mistake people do forget about after-treatment devices. They use wrong lubricant, rationalise in wrong way to use high SAPS oil to the modern equipment like Euro 6 equivalent or Euro 5 equivalent and they messed up and then increase their total cost of ownership.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, Ajay. The next question from our audience, um, and I'll ask this one to you, Ajay, is: With so many new vehicle types entering the market, how can operators ensure they're using the right lubricant at the right time?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Ah, this is... this is like where you know expertise of equipment as well as lubricant really comes in. Because you need to understand what kind of lubricants are required basis the design of equipment as well as the OEM recommendation. And then, our own knowledge of lubricant, what kind of lubricant would fit into that. And then we plan a lubricant program for that fleet. From there, there could be opportunity to rationalise, but not always. So that's how it is very important to understand the equipment and the lubricant and then marry the right lubricant to the right equipment.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Excellent. Thank you. The next question from the audience is around the future. And could... could our panellists talk about electrification, future powertrains, and how this will impact the commercial road transport industry and also the lubricants of the future? So firstly to you, Mubarak, on what about the future of powertrains and how will that impact the industry?}

[Visuals]

{Full-screen video feed of Mubarak Moosa with smaller feeds of Andrew and Ajay to the left.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Um, Andrew, to answer this question we need to take a stock at, you know, the decarbonisation road... or pathway towards decarbonisation. Um, what we see is various countries are in various stages of their road towards decarbonisation. So this will have a major impact in terms of adopting the zero emission vehicle technologies, alternate powertrain towards this. What we also see is, you know, the application of battery electric vehicle needs to be chosen wisely on a specific route, specific use cases. So fleets are gradually moving towards this, choosing wisely in terms of where they can roll out battery electric technologies. So given that fact, and also given the pathway towards decarbonisation, where what we expect is electrification can be predominantly seen in Europe, China, and to an extent in... in the US as well. But other than that, in various other economies globally, we believe diesel would still be a dominant fuel primarily.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{And same question to you, Ajay, to talk about future powertrains and how will this impact the industry from a lubricant's perspective?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Yes, this is like question like many people think that electrification coming long way and it will replace everything. It is not going to. Diesel is not going to go away in the next 10 years or so. And diesel in fact, ICE, ICE will not go even longer because ICE means Internal Combustion Engine. So in Internal Combustion Engine, diesel would remain. And for diesel engines that we already heard PC-12 is coming up, bringing levels lower viscosities and then thereafter some of the OEMs in Europe and they're looking for lower ash level than what currently it is. So the SAPS level will go down, viscosity will go down to achieve fuel economy as well as longer after treatment devices life to reduce total cost of ownership. Coming to another aspect, ICE which is hydrogen and other alternate fuels would come. There lot of people are doing a lot of things. However, the commerciality and commercial viability would decide the future of those alternate fuel ICE engines. When they come they have their own challenges and then that will define the lubricant... engine oil requirement for those kind of fuels. Third thing, battery electric vehicle doesn't have an engine of course, so you need different kind of fluids which is transmission oil, electric transmission oil, maybe the battery coolant, some special greases. Those kind of things would come. But I think as Mubarak has mentioned, ICE or diesel engine is not going to away in near future, it is going to be dominant in... in CRT industry.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you. And the next question is to you, Ajay. Why should I invest more in premium lubricants when I'm trying to keep my TCO low?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Ah, yes, important. We always have this dilemma, the spend versus investment, okay. So normally the people who think that they are spending a little bit money and comparing price of lubricant, but the value coming from lubricant can be significant. Because a high-performance lubricant can improve the durability and reliability of the equipment, can lower the fuel consumption and can also give higher after treatment devices. So it is an investment, ROI could be quite great when you use high performance, carefully chosen, and then implemented properly.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{The next question from the audience was: What are the solutions for reducing TCO in markets who are still operating on high sulphur diesel?}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Yeah, thanks, Andrew. We came a long way from high sulphur to the lower sulphur in several markets. For high sulphur market, even other markets like which are still on Euro 4 kind of emission norms...}

[Visuals]

{Transition to a yellow slide with the image of three fuel tanks.}

[Text displays]

{A logistics transportation provider (carrying petrol, bio-diesel and vegetable oil in bulk tankers) wanted to increase their maintenance intervals for their fleet of 165 ISUZU trucks to 40,000 km, helping to reduce their operator workload and achieve cost savings during their maintenance.

Shell Rimula R4 Plus 15W-40 and the LubeAnalyst service were used, and after a successful trial, the oil helped the customer to extend their Preventive Maintenance (PM) interval from 30,000 km to 40,000 km. This improvement delivered annual cost savings of 5,358,210 baht, or 150,725 USD1.2

Demonstrated Value Record (DVR) TEG00947, Thailand, 12/13/2023

Shell Rimula R4 Plus 15W.40 Technical Datasheet,v 1.4, 2025 }

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{...product like Rimula R4 Plus which is CI-4 high ash product can give you very good performance like longer durability and longer ODI and less top-up in those severe conditions.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you everybody for your questions. If we haven't been able to get to a specific question during the event, we're happy to respond on LinkedIn after today's event. As a recap of what we've talked about today: we covered the growth and the growth opportunities across the APAC region, the resulting challenges for fleets, fleet operators. We discussed how lubricants can be a solution for improved TCO, and also touched on how fleets can be fit for the future. Before we end, I'd like to invite our panellists back one last time to share their parting thoughts. So the first question is to Ajay to share your advice, your guidance to the people on this call.}

[Visuals]

{Full-screen video feed of Ajay Agarwal with smaller feeds of Andrew and Mubarak to the left.}

[Conversation Title]

{Product Application Specialist, Shell India}

[Ajay Agarwal]

{Yeah, I think if we start with lubricant, that is the quickest way to improve efficiency and the lower fuel spend. Because lower the friction, lower the fuel consumption. And Shell has expertise in managing lubricant with low friction properties and still giving strong protection to the equipment to maintain reliability and durability. So we have seen product like FA-4, Rimula R7, R5 LE, those kind of product with lower viscosities give equivalent or say better protection than 15W-40 and still giving fuel economy. And then they also offer longer ODI so that you extend your service interval, less trip to the workshops.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, Ajay. And could I ask Mubarak for your parting thoughts, please.}

[Visuals]

{Full-screen video feed of Mubarak Moosa with smaller feeds of Andrew and Ajay to the left.}

[Conversation Title]

{Associate Partner, Frost and Sullivan}

[Mubarak Moosa]

{Like what Ajay mentioned, I mean, we see TCO should be considered quite strategically. We highlighted about the spend and the return on investment. The old TCO component, the maintenance is also a critical factor apart from fuel cost. So in order to have an efficient maintenance strategy is quite important, and as part of that the lubricant programme becomes quite crucial as well. So overall, I believe the fleets in this region should look at smart fleet management technologies, smart fleet management approaches, within which maintenance has to become an efficient tool to monitor over a longer term, Andrew.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you, gentlemen. So to conclude, thank you. Our takeaways for fleet managers. Firstly, look at your lubricant and the lubricant technology. Make sure you’re using the right lubricant for your fleet, the right option based on your engine, your fleet profile. And it’s critical that using the right one to give you the best protection. Secondly, look at lubricants how they can help you get ahead. How they can help you maximise results. How they can help you lower your TCO and potentially increase or improve your fuel economy. And if you review your choices of TCO with lubricants in mind, feel confident in your choices, that is most important. Thank you again to our excellent panellists, Ajay and Mubarak for joining us. Thank you to our audience for taking time out of your day to listen. We hope you found this session as insightful as we did.}

[Visuals]

{Transition to a yellow slide with images of the whitepaper and website links.}

[Text displays]

{Download the “Shell Rimula: Why cold-chain transport demands high-performance lubricants” whitepaper by visiting our website:

www.shell.com/rimula-high-stakes-logistics

Learn more about Shell CRT Lubricants and contact us by visiting our website:

www.shell.com/fleet-knowledge-center}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{We’d like to leave you today with our latest whitepaper entitled ‘High-Stakes Logistics: Why cold-chain transport demands high-performance lubricants’, which is available on the Shell website. Finally, if you’d like to learn more, please visit Shell’s Knowledge Hub or get in touch.}

[Visuals]

{Full-screen video feed of Andrew Gibson, with smaller feeds of Mubarak and Ajay to the left.}

[Conversation Title]

{Global Sector Marketing Manager, Fleet, Shell}

[Andrew Gibson]

{Thank you and have a great rest of your day.}

[Background music plays]

{Upbeat, rhythmic instrumental electronic music plays and fades out.}

[Visuals]

{Shell Pecten logo animates on screen with the sound of the Shell mnemonic.}