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frame.\u003C/p\u003E\r\n\u003Cp\u003E[Scene Transition]\u003C/p\u003E\r\n\u003Cp\u003ENext scene/frame appears\u003C/p\u003E\r\n\u003Cp\u003E[Animated sequence]\u003C/p\u003E\r\n\u003Cp\u003EA man in yellow jacket is riding on a scooter.\u003C/p\u003E\r\n\u003Cp\u003E[Spoken word]\u003C/p\u003E\r\n\u003Cp\u003EIt affects the transport choices we make,\u003C/p\u003E\r\n\u003Cp\u003E[Scene Transition]\u003C/p\u003E\r\n\u003Cp\u003ENext scene/frame appears\u003C/p\u003E\r\n\u003Cp\u003E[Animated sequence]\u003C/p\u003E\r\n\u003Cp\u003EA driver is talking to 2 passengers at the back of the car\u003C/p\u003E\r\n\u003Cp\u003E[Scene Transition]\u003C/p\u003E\r\n\u003Cp\u003ENext scene/frame appears\u003C/p\u003E\r\n\u003Cp\u003E[Animated sequence]\u003C/p\u003E\r\n\u003Cp\u003EA man in a black jacket is charging his car at Shell Recharge.\u003C/p\u003E\r\n\u003Cp\u003E[Spoken word]\u003C/p\u003E\r\n\u003Cp\u003Ehow we power our vehicles,\u003C/p\u003E\r\n\u003Cp\u003E[Text displays]\u003C/p\u003E\r\n\u003Cp\u003Epower vehicles\u003C/p\u003E\r\n\u003Cp\u003E[Scene Transition]\u003C/p\u003E\r\n\u003Cp\u003ENext scene/frame appears\u003C/p\u003E\r\n\u003Cp\u003E[Animated sequence]\u003C/p\u003E\r\n\u003Cp\u003EA girl in a yellow t-shirt is sitting on a sofa and waving to someone on her laptop.\u003C/p\u003E\r\n\u003Cp\u003E[Spoken word]\u003C/p\u003E\r\n\u003Cp\u003Eeven the way our businesses operate;\u003C/p\u003E\r\n\u003Cp\u003E[Scene Transition]\u003C/p\u003E\r\n\u003Cp\u003ENext scene/frame appears\u003C/p\u003E\r\n\u003Cp\u003E[Animated sequence]\u003C/p\u003E\r\n\u003Cp\u003EA deliveryman is taking a picture of a box.\u003C/p\u003E\r\n\u003Cp\u003E[Spoken word]\u003C/p\u003E\r\n\u003Cp\u003Eand fleets have a vital role to play in driving this change.\u003C/p\u003E\r\n\u003Cp\u003E[Scene Transition]\u003C/p\u003E\r\n\u003Cp\u003ENext scene/frame appears\u003C/p\u003E\r\n\u003Cp\u003E[Animated sequence]\u003C/p\u003E\r\n\u003Cp\u003ETwo men are taking 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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 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.\u003C/p\u003E\n\u003Cp\u003E\u003Cstrong\u003EForward-Looking statements\u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EThis 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. 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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) 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 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 and amendment thereto for the year ended December 31, 2024 (available at \u003Ca href=\"https://www.shell.com/investors/news-and-filings/sec-filings.html\" target=\"_self\"\u003Ewww.shell.com/investors/news-and-filings/sec-filings.html\u003C/a\u003E and \u003Ca href=\"https://www.sec.gov/\" target=\"_blank\"\u003Ewww.sec.gov\u003C/a\u003E). 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. 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.\u003C/p\u003E\n\u003Cp\u003E\u003Cstrong\u003EShell’s net carbon intensity\u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EAlso, in this content 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.\u003C/p\u003E\n\u003Cp\u003E\u003Cstrong\u003EShell’s net-zero emissions target\u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EShell’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 Scope 1, Scope 2 and NCI targets 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. 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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.\u003C/p\u003E\n\u003Cp\u003EThe contents of websites referred to in this content do not form part of this content.\u003C/p\u003E\n\u003Cp\u003EWe 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. 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