In Q2, Shell delivered very strong results driven by strong operational performance across our businesses. That performance reflects our relentless focus on execution, which enabled us to provide the critical energy our customers needed when it mattered.

In Integrated Gas, strong performance across our global portfolio helped to offset some of the lost LNG volumes from Qatar. Take our LNG Canada Joint Venture for example. This is a greenfield project that shipped its first cargo just a year ago, and it has already delivered more than 100 cargoes and achieved full capacity this quarter.

In Upstream, our continued focus on performance also unlocked additional production this quarter. We continue to optimise and deliver turnarounds ahead of schedule, enabling performance such as in Brazil, where we delivered another quarter of record production.

Our Pennsylvania Petrochemicals Complex also delivered its best performance to date, and our refineries achieved a record 102 per cent utilisation in a high-margin period. Our refineries have responded to what the market needs, shifting production towards middle distillates — like jet fuel — capturing more value from our assets.

These kinds of value-based decisions make a difference at a time when global energy flows are under pressure. And behind them sits an important structural strength: Shell's integrated model. The connectivity across our value chains creates the opportunities to optimise assets, product flows and market exposures from well to wheel.

And as we remained responsive to the fast-changing conditions, we also have kept a clear focus on delivering our strategy and commitments. Structural cost reductions are progressing well, with 700 million dollars delivered so far in 2026. Savings that are driven by changing the way we work across our organisation, including operational efficiencies and a leaner, fit-for- purpose corporate centre, and the high-grading of our portfolio has now delivered savings of close to 6 billion dollars since 2022.

We also continue to access long-term growth and strengthen our portfolio. Our acquisition of ARC Resources has won overwhelming support from ARC's shareholders — and we're now awaiting final regulatory approval. The ARC deal accelerates our strategy by sustaining material liquids production and growing our Integrated Gas business, lifting our expected production growth to 2030, from around 1 per cent a year to some 4 per cent, compared with 2025.

We have also signed contracts to operate the offshore Loran gas field in Venezuela, and in Namibia we continued to create optionality having drilled our most promising exploration well to date. At the same time, in Upstream, we have agreed to sell our non-operated working interest in Na Kika in the Gulf of America — an asset that secured attractive value, as it nears the end of its life.

Taken together, this is high-grading in action: releasing value from assets where we are no longer the natural owner and reinvesting it in the next generation of competitively positioned supply.

We also recently announced the divestment of Sprng Energy in India, high-grading our power portfolio. And in Marketing, we completed the divestment of the US Jiffy Lube network and announced the divestment of our South African mobility sites as part of repositioning the portfolio around our key markets.

So, while performing through today's volatility, we maintained discipline and kept up the momentum on our strategic delivery.

And with that, let me hand over to Sinead, who will provide more details on our Q2 financial performance.

SINEAD GORMAN, CHIEF FINANCIAL OFFICER OF SHELL PLC

Thank you Wael.

In Q2 we delivered a very strong set of results. Adjusted Earnings for the quarter were 9.8 billion dollars, and we generated over 21 billion dollars of cash flow from operations, despite the ongoing disruptions in the Middle East.

Strong operational performance across our segments provided the foundation for our delivery this quarter. In addition to this, LNG trading and optimisation was able to capture significant additional value compared with last quarter.

And I was especially pleased to see the Chemicals results this quarter with a positive free cash flow contribution. The hard work the team is putting into the transformation is starting to pay off and combined with a more favourable margin environment this quarter's results represents the best we have seen in over 5 years. But there is much more to do.

Now, turning to our financial framework. Our cash capex outlook of 24 to 26 billion dollars for 2026 is unchanged. This includes some 4 billion dollars for the ARC Resources acquisition and associated cash capex.

In Q2 we reduced net debt to some 42 billion dollars, or 12 billion dollars excluding leases. And today, we have announced 3 billion dollars of share buybacks, which we expect to complete by our Q3 results announcement in October.

In addition to this new programme, we will also complete the portion of the previous buyback programme that was halted due to regulatory restrictions associated with the ARC transaction.

In summary, this quarter we performed extremely well despite continued disruptions, we made significant progress across the portfolio and we further strengthened our balance sheet, whilst remaining focused on growing long-term value.

And with that, let me hand back to Wael to close.

WAEL SAWAN, CHIEF EXECUTIVE OFFICER OF SHELL PLC

Thanks Sinead.

This was a very strong set of results. The macro was supportive — but what these results show more than anything is that Shell delivers through volatility.

We continue to drive performance, discipline and simplification throughout the organisation, as we deliver more value with less emissions. And we are confidently progressing our strategy at pace, as we continue to build a more focused, more resilient and higher-return company.

Thank you.

Shell plc

July 30, 2026

www.shell.com/investors

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Quarterly Results

Shell plc Q2 2026 results