Three men and a women standing beside two cars

Shell Brands International (‘Shell’) has extended its long-standing partnership with Hyundai Motorsport to remain the title sponsor and technical partner of the FIA World Rally Championship (WRC) outfit for a further three years.

The two companies formed their WRC relationship ahead of Hyundai Motorsport’s debut WRC season in 2014 and have since developed a mutually beneficial collaboration.

Over the past eight years, Shell has supported the team across several iterations of technical regulations, including some of the most advanced cars ever to grace the WRC stages. Sweeping changes in 2017 and, more recently, the introduction of new hybrid technology for 2022, have strengthened the co-operation, delivering tangible gains in competition and in Shell’s product development.

Hyundai Motorsport and Shell have celebrated two manufacturers’ titles together, in 2019 and 2020, as well as its most recent victory in Rally Italia Sardegna, the first for the all-new Hyundai i20 N Rally1 car.

Across nine seasons to date, Hyundai Motorsport has had total engine reliability and no wear issues with the help of Shell Helix Ultra lubricants, which have been designed for ultimate engine performance without compromise. The technical partnership has delivered an additional 1.5 horsepower, representing an average of six seconds advantage at each rally, where even the most marginal of gains can make a huge difference.

Ade Ajala, Vice President Global Key Accounts, New Business Development and Strategic Alliances at Shell, said: “The extension of the title sponsorship and technical partnership represents a strong and valuable platform for Shell to showcase its technology leadership, using motorsport as the ultimate product development test bed. It will enable our teams to continue their joint work to help us achieve our respective current and future sustainability ambitions and initiatives. The learnings of that joint work will continue to be transferred directly into the development of Shell Helix Ultra lubricants to benefit Hyundai customers around the world, helping them to minimize their carbon footprint.”

Hyundai Motorsport President, Sean Kim, said: “Shell has been with us since the very start of our WRC journey. It is testament to the strength of our working relationship that we can extend the partnership for three more years. While our two companies share a corporate relationship, our WRC collaboration has technical development at its core. We have been through two major regulation changes in recent years, the first in 2017 and again this season. Shell has been with us every step of the way. They played a key part in our two title successes, and we’ve been pleased to carry on the winning partnership into the new hybrid era. This is far more than just title sponsorship of the Hyundai Shell Mobis World Rally Team, it is a true technical collaboration.”

Hyundai Shell Mobis World Rally Team driver Dani Sordo said: “I have been with Hyundai Motorsport since 2014, so I have seen first-hand the way in which the team works in partnership with Shell. When we compete on the limit, we must find every tenth-of-a-second we can. The evolution of our cars over the years has been helped by this technical co-operation between these two companies who understand what it takes to find performance – and deliver it when it is needed. We cannot score podiums and victories like we did in Sardinia recently without such a partnership.”

ENDS

To download high-resolution photos for editorial use, full drivers’ profiles, as well as other useful press information about the team please refer to http://press.motorsport.hyundai.com/home (username: HMSGMedia / password: Alzenau)

About Shell

Shell plc is incorporated in England and Wales‚ has its headquarters in London and is listed on the London‚ Amsterdam‚ and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing‚ marketing and shipping of oil products and chemicals and renewable energy projects. For further information‚ visit www.shell.com

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 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 announcement refer to entities over which Shell plc either directly or indirectly 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 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’’, ‘‘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 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; (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 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 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, 2021 (available at www.shell.com/investor 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, 6th July 2022. 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.

Also, in this announcement we may refer to Shell’s “Net Carbon Footprint” or “Net Carbon Intensity”, which include 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 Footprint” or “Net Carbon Intensity” are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

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Forward Looking Non-GAAP measures

This announcement may contain certain forward-looking non-GAAP measures such as cash 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.

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About Hyundai Motorsport GmbH

Established on 19 December 2012, Hyundai Motorsport GmbH is responsible for Hyundai’s global motorsport activities, including the FIA World Rally Championship (WRC), Customer Racing and electric racing projects. In WRC, Hyundai Motorsport quickly established a strong reputation taking victory in its debut season in 2014. The team finished as runners-up in the manufacturers’ championship on three consecutive occasions between 2016 and 2018 before claiming its first title in 2019 and repeating the feat in 2020. Since the establishment of its Customer Racing activities in September 2015, Hyundai Motorsport has become a trusted partner for teams and drivers looking for success on the rally stages or on racetracks around the world. From its competitive i20 R5 rally car to the competitive i30 N TCR, Hyundai Motorsport-built cars have claimed victory in several championships, including national rally series in France and Spain, as well as consecutive titles in the FIA World Touring Car Cup (WTCR) in 2018 and 2019. Designed and built at its Alzenau headquarters, the Veloster N ETCR was unveiled in September 2019 and heralded an exciting new era, in which electric racing became one of the company’s pillars. Unified under Hyundai Motorsport, WRC, Customer Racing, and electric racing are together playing instrumental roles in driving Hyundai’s global high-performance N brand and are supporting an important perception shift for the Hyundai brand around the world. Further information about Hyundai Motorsport is available at: http://motorsport.hyundai.com

About Hyundai Motor Company

Established in 1967, Hyundai Motor Company is present in over 200 countries with more than 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision ‘Progress for Humanity,' Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider. The company invests in advanced technologies such as robotics and Urban Air Mobility (UAM) to bring about revolutionary mobility solutions, while pursuing open innovation to introduce future mobility services. In pursuit of sustainable future for the world, Hyundai will continue its efforts to introduce zero emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies. More information about Hyundai Motor and its products can be found at: http://worldwide.hyundai.com or http://globalpr.hyundai.com/

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