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SHELL PLC – REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2024

1. Shell's 2024 report details government payments compliance. 2. Shell made £28 billion in payments to governments. 3. Significant tax payments recorded in multiple countries. 4. The UK shows negative tax payment impact on Shell. 5. Compliance with regulations reflects Shell's operational commitments.

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Why Neutral?

The report showcases compliance and not changes in revenue or operations. Historical reports of payments have not significantly affected stock prices.

How important is it?

While informative, the report lacks immediate market-moving implications, reflecting stable operational compliance.

Why No Impact?

Payments to governments are routine disclosures without immediate financial implications. Past reports yielded no significant stock movement.

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Shell plc – Report on Payments to Governments for the year 2024 Basis for preparation – Report on Payments to Governments for the year 2024This Report provides a consolidated overview of the payments to governments made by Shell plc and its subsidiary undertakings (hereinafter referred to as “Shell”) for the year 2024 as required under the UK’s Reports on Payments to Governments Regulations 2014 (as amended in December 2015). These UK Regulations enact domestic rules in line with Directive 2013/34/EU (the EU Accounting Directive (2013)) and apply to large UK incorporated companies like Shell that are involved in the exploration, prospection, discovery, development and extraction of minerals, oil, natural gas deposits or other materials. This Report is also filed with the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism) intended to satisfy the requirements of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority in the United Kingdom. This Report is also published pursuant to article 5:25e of the Dutch FMSA (Wft) and is furnished with the US Securities and Exchange Commission (“SEC”) according to Section 13(q) under the US Securities Exchange Act of 1934. This Report is available for download from www.shell.com/payments. LegislationThis Report is prepared in accordance with The Reports on Payments to Governments Regulations 2014 as enacted in the UK in December 2014 and as amended in December 2015. Reporting entitiesThis Report includes payments to governments made by Shell plc and its subsidiary undertakings (Shell). Payments made by entities where Shell has joint control are excluded from this Report. ActivitiesPayments made by Shell to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals, oil and natural gas deposits or other materials (extractive activities) are disclosed in this Report. It excludes payments related to refining, natural gas liquefaction or gas-to-liquids activities. For a fully integrated project, which does not have an interim contractual cut-off point where a value can be attached or ascribed separately to the extractive activities and to other processing activities, payments to governments are not artificially split but are disclosed in full. GovernmentGovernment includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government, including a national oil company. ProjectPayments are reported at project level, except those payments that are not attributable to a specific project which are reported at entity level. Project is defined as operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government. If such agreements are substantially interconnected, those agreements are to be treated as a single project. “Substantially interconnected” means forming a set of operationally and geographically integrated contracts, licences, leases or concessions or related agreements with substantially similar terms that are signed with a government giving rise to payment liabilities. Such agreements can be governed by a single contract, joint venture, production sharing agreement or other overarching legal agreement. Indicators of integration include, but are not limited to, geographic proximity, the use of shared infrastructure and common operational management. PaymentThe information is reported under the following payment types: Production entitlementsThese are the host government’s share of production in the reporting period derived from projects operated by Shell. This includes the government’s share as a sovereign entity or through its participation as an equity or interest holder in projects within its sovereign jurisdiction (home country). Production entitlements arising from activities or interests outside of its home country are excluded. In certain contractual arrangements, typically a production sharing contract, a government through its participation interest may contribute funding of capital and operating expenditure to projects, from which it derives production entitlement to cover such funding (cost recovery). Such cost recovery production entitlement is included. In situations where a government settles Shell’s income tax obligation on behalf of Shell by utilising its share of production entitlements (typically under a tax-paid concession), such amount will be deducted from the reported production entitlement. TaxesThese are taxes paid by Shell on its income, profits or production (which include resource severance tax and petroleum resource rent tax), including those settled by a government on behalf of Shell under a tax-paid concession. Payments are reported net of refunds. Consumption taxes, personal income taxes, sales taxes, property and environmental taxes are excluded. RoyaltiesThese are payments for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken. Dividends These are dividend payments other than dividends paid to a government as an ordinary shareholder of an entity unless paid in lieu of production entitlements or royalties. For the year ended December 31, 2024, there were no reportable dividend payments to a government. BonusesThese are payments for bonuses. These are usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced, or production has reached a milestone. Licence fees, rental fees, entry fees and other considerations for licences and/or concessions These are fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded. Also excluded are payments made in return for services provided by a government. Infrastructure improvementsThese are payments which relate to the construction of infrastructure (road, bridge or rail) not substantially dedicated for the use of extractive activities. Payments which are a social investment in nature, for example building of a school or hospital, are excluded. OtherOperatorshipWhen Shell makes a payment directly to a government arising from a project, regardless of whether Shell is the operator, the full amount paid is disclosed even where Shell as the operator is proportionally reimbursed by its non-operating venture partners through a partner billing process (cash-call). When a national oil company is the operator of a project to whom Shell makes a reportable payment, which is distinguishable in the cash-call, it is included in this Report. Cash and in-kind paymentsPayments are reported on a cash basis. In-kind payments are converted to an equivalent cash value based on the most appropriate and relevant valuation method for each payment, which can be at cost or market value, or such value as stated in the contract. In-kind payments are reported in both volumes and the equivalent cash value. Materiality levelFor each payment type, total payments below £86,000 to a government are excluded from this Report. Exchange ratePayments made in currencies other than US dollars are translated for this Report based on the foreign exchange rate at the relevant quarterly average rate. Report on Payments to Governments [1] Summary report (in USD) Countries Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Europe               Germany         –         243,935,441         –         –         –         –         243,935,441 Italy         –         4,128,063         74,213,782         –         80,220,786         –         158,562,631 Norway         2,083,221,642         1,300,962,023         –         –         122,391         –         3,384,306,056 United Kingdom         –         -16,649,747         –         –         11,483,529         –         -5,166,218 Asia               Brunei         3,983,642         44,229,620         8,660,091         –         –         –         56,873,353 China         –         10,343,616         –         –         –         –         10,343,616 India         –         -17,715,638         –         –         –         –         -17,715,638 Kazakhstan         –         242,741,780         –         –         –         –         242,741,780 Malaysia         2,317,002,807         305,924,901         500,008,822         –         –         –         3,122,936,530 Middle East               Oman         633,711,368         3,954,062,451         –         –         900,000         –         4,588,673,819 Qatar         1,801,453,896         1,507,244,066         –         –         30,538,723         –         3,339,236,685 Oceania               Australia         –         1,277,737,693         468,579,450         –         13,412,457         266,428         1,759,996,028 Africa               Egypt         –         41,164,348         –         1,836,435         –         –         43,000,783 Nigeria         3,804,949,166         648,734,398         780,231,463         –         102,925,166         –         5,336,840,193 Sao Tome and Principe         –         –         –         1,300,000         –         –         1,300,000 Tanzania         –         –         –         –         140,000         –         140,000 Tunisia         –         24,904,580         4,941,633         –         –         –         29,846,213 North America               Canada         –         172,567,072         4,697,991         –         1,423,783         –         178,688,846 Mexico         –         –         –         –         21,527,002         –         21,527,002 USA         –         53,238,500         1,187,594,021         –         80,678,527         860,822         1,322,371,870 South America               Argentina         53,082,051         1,984,309         143,969,668         –         123,276         –         199,159,304 Brazil         327,688,819         656,740,954         1,147,687,680         9,540,351         1,556,282,443         –         3,697,940,247 Colombia         –         –         –         –         489,880         –         489,880 Trinidad and Tobago         362,690,585         561,771         2,210,566         300,000         13,719,070         –         379,481,992 Total         11,387,783,976         10,456,840,201         4,322,795,167         12,976,786         1,913,987,033         1,127,250         28,095,510,413 [1] The figures in this Report are rounded. Germany Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               FEDERAL CENTRAL TAX OFFICE         –         294,891,077         –         –         –         –         294,891,077 MUNICIPALITY OF COLOGNE         –         -2,763,591         –         –         –         –         -2,763,591 MUNICIPALITY OF DINSLAKEN         –         -386,534         –         –         –         –         -386,534 MUNICIPALITY OF GELSENKIRCHEN         –         -483,145         –         –         –         –         -483,145 MUNICIPALITY OF OSTSTEINBEK         –         584,685         –         –         –         –         584,685 MUNICIPALITY OF WESSELING         –         -3,943,262         –         –         –         –         -3,943,262 TAX AUTHORITY HAMBURG         –         -43,963,789         –         –         –         –         -43,963,789 Total         –         243,935,441         –         –         –         –         243,935,441                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Entity level payment               DEUTSCHE SHELL HOLDING GmbH         –         243,935,441         –         –         –         –         243,935,441 Total         –         243,935,441         –         –         –         –         243,935,441 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. Italy Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               CALVELLO MUNICIPALITY         –         –         884,083         –         –         –         884,083 CORLETO PERTICARA MUNICIPALITY         –         –         1,964,671         –         –         –         1,964,671 GORGOGLIONE MUNICIPALITY         –         –         302,257         –         –         –         302,257 GRUMENTO NOVA MUNICIPALITY         –         –         505,190         –         –         –         505,190 MARSICO NUOVO MUNICIPALITY         –         –         378,893         –         –         –         378,893 MARSICOVETERE MUNICIPALITY         –         –         126,298         –         –         –         126,298 MONTEMURRO MUNICIPALITY         –         –         126,298         –         –         –         126,298 REGIONE BASILICATA         –         –         44,157,199         –         79,302,465         –         123,459,664 TESORERIA PROVINICIALE DELLO STATO         –         4,128,063         22,264,135         –         718,305         –         27,110,503 VIGGIANO MUNICIPALITY         –         –         3,504,758         –         200,016         –         3,704,774 Total         –         4,128,063         74,213,782         –         80,220,786         –         158,562,631                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               ITALY UPSTREAM ASSET         –         4,128,063         74,213,782         –         80,220,786         –         158,562,631 Total         –         4,128,063         74,213,782         –         80,220,786         –         158,562,631 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  Norway Government report (in USD) [1]   Production entitlements   Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments                 EQUINOR ASA         853,946,278 [A]         –         –         –         –         –         853,946,278 PETORO AS         1,229,275,364 [B]         –         –         –         –         –         1,229,275,364 SKATTEETATEN         –           1,300,962,023         –         –         –         –         1,300,962,023 SOKKELDIREKTORATET         –           –         –         –         122,391         –         122,391 Total         2,083,221,642           1,300,962,023         –         –         122,391         –         3,384,306,056                   Project report (in USD)   Production entitlements   Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects                 ORMEN LANGE         2,083,221,642 [C]         –         –         –         –         –         2,083,221,642 Entity level payment                 A/S NORSKE SHELL         —           1,300,962,023         –         –         122,391         –         1,301,084,414 Total         2,083,221,642           1,300,962,023         –         –         122,391         –         3,384,306,056 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. [A] Includes payment in kind of $853,946,278 for 12,291 thousand barrels of oil equivalent (kboe) valuated at market price.  [B] Includes payment in kind of $1,229,275,364 for 17,693 kboe valuated at market price.  [C] Includes payment in kind of $2,083,221,642 for 29,984 kboe valuated at market price. United Kingdom Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               HM REVENUE AND CUSTOMS         –         -16,649,747         –         –         –         –         -16,649,747 NORTH SEA TRANSITION AUTHORITY         –         –         –         –         11,355,210         –         11,355,210 THE CROWN ESTATE SCOTLAND         –         –         –         –         128,319         –         128,319 Total         –         -16,649,747         –         –         11,483,529         –         -5,166,218                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               BRENT AND OTHER NORTHERN NORTH SEA PROJECTS         –         -32,113,820         –         –         563,325         –         -31,550,495 ONEGAS WEST         –         –         –         –         3,232,597         –         3,232,597 UK EXPLORATION PROJECTS         –         –         –         –         1,117,783         –         1,117,783 UK OFFSHORE OPERATED         –         –         –         –         2,119,313         –         2,119,313 WEST OF SHETLAND NON-OPERATED         –         –         –         –         1,076,456         –         1,076,456 Entity level payment               SHELL U.K. LIMITED         –         15,464,073         –         –         3,374,055         –         18,838,128 Total         –         -16,649,747         –         –         11,483,529         –         -5,166,218 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  Brunei Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               MINISTRY OF FINANCE AND ECONOMY         –         44,229,620         –         –         –         –         44,229,620 PETROLEUM AUTHORITY OF BRUNEI DARUSSALEM         3,983,642         –         8,660,091         –         –         –         12,643,733 Total         3,983,642         44,229,620         8,660,091         –         –         –         56,873,353                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Entity level payment               SHELL DEEPWATER BORNEO B.V.         –         39,001,133         –         –         –         –         39,001,133 SHELL EXPLORATION AND PRODUCTION BRUNEI B.V.         3,983,642         5,228,487         8,660,091         –         –         –         17,872,220 Total         3,983,642         44,229,620         8,660,091         –         –         –         56,873,353 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  China Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               TIANJIN MUNICIPAL TAXATION BUREAU         –         5,911,867         –         –         –         –         5,911,867 YULIN MUNICIPAL TAXATION BUREAU         –         4,431,749         –         –         –         –         4,431,749 Total         –         10,343,616         –         –         –         –         10,343,616                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Entity level payment               SHELL CHINA EXPLORATION AND PRODUCTION COMPANY LIMITED         –         10,343,616         –         –         –         –         10,343,616 Total         –         10,343,616         –         –         –         –         10,343,616 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  India Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               INCOME TAX DEPARTMENT         –         -17,715,638         –         –         –         –         -17,715,638 Total         –         -17,715,638         –         –         –         –         -17,715,638                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Entity level payment               BG EXPLORATION AND PRODUCTION INDIA LIMITED         –         -17,715,638         –         –         –         –         -17,715,638 Total         –         -17,715,638         –         –         –         –         -17,715,638 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. Kazakhstan Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               WEST KAZAKHSTAN TAX COMMITTEE         –         242,741,780         –         –         –         –         242,741,780 Total         –         242,741,780         –         –         –         –         242,741,780                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               KARACHAGANAK         –         242,741,780         –         –         –         –         242,741,780 Total         –         242,741,780         –         –         –         –         242,741,780 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. Malaysia Government report (in USD) [1]   Production entitlements   Taxes Royalties   Bonuses Fees Infrastructure improvements Total Governments                   BRUNEI NATIONAL PETROLEUM COMPANY SENDIRIAN BERHAD         301,048,915 [A]         –         –           –         –         –         301,048,915 LEMBAGA HASIL DALAM NEGERI         –           305,924,901         –           –         –         –         305,924,901 MALAYSIA FEDERAL AND STATE GOVERNMENTS         –           –         469,060,363 [B]         –         –         –         469,060,363 PETROLEUM SARAWAK EXPLORATION AND PRODUCTION SDN. BHD.         74,656,856 [C]         –         –           –         –         –         74,656,856 PETROLIAM NASIONAL BERHAD         990,078,563 [D]         –         30,948,459           –         –         –         1,021,027,022 PETRONAS CARIGALI SDN. BHD.         951,218,473 [E]         –         –           –         –         –         951,218,473 Total         2,317,002,807           305,924,901         500,008,822           –         –         –         3,122,936,530                     Project report (in USD)   Production entitlements   Taxes Royalties   Bonuses Fees Infrastructure improvements Total Projects                   SABAH GAS (NON-OPERATED)         –           16,208,714         3,017,327           –         –         –         19,226,041 SABAH INBOARD AND DEEPWATER OIL         1,435,194,825 [F]         158,435,164         303,452,674 [G]         –         –         –         1,897,082,663 SARAWAK OIL AND GAS         881,807,982 [H]         116,047,586         193,538,821 [I]         –         –         –         1,191,394,389 Entity level payment                   SABAH SHELL PETROLEUM COMPANY LIMITED         –           4,502,043         –           –         –         –         4,502,043 SARAWAK SHELL BERHAD         –           3,394,907         –           –         –         –         3,394,907 SHELL ENERGY ASIA LIMITED         –           2,616,753         –           –         –         –         2,616,753 SHELL OIL AND GAS (MALAYSIA) LLC         –           595,653         –           –         –         –         595,653 SHELL SABAH SELATAN SENDRIAN BERHAD         –           4,124,081         –           –         –         –         4,124,081 Total         2,317,002,807           305,924,901         500,008,822           –         –         –         3,122,936,530 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. [A] Includes payment in kind of $301,048,915 for 3,355 thousand barrels of oil equivalent (kboe) valuated at market price.  [B] Includes payment in kind of $342,702,511 for 3,909 kboe valuated at market price and $126,357,852 for 6,336 kboe valuated at fixed price.  [C] Includes payment in kind of $59,554,178 for 3,011 kboe valuated at fixed price and $15,102,678 for 201 kboe valuated at market price.  [D] Includes payment in kind of $783,520,240 for 8,933 kboe valuated at market price and $209,732,743 for 10,921 kboe valuated at fixed price. [E] Includes payment in kind of $624,146,940 for 7,163 kboe valuated at market price and $327,071,533 for 16,397 kboe valuated at fixed price. [F] Includes payment in kind of $1,435,194,825 for 15,977 kboe valuated at market price. [G] Includes payment in kind of $297,371,578 for 3,339 kboe valuated at market price. [H] Includes payment in kind of $596,358,454 for 30,329 kboe valuated at fixed price and $288,623,948 for 3,675 kboe valuated at market price. [I] Includes payment in kind of $126,357,852 for 6,336 kboe valuated at fixed price and $45,330,933 for 570 kboe valuated at market price. Oman Government report (in USD) [1]   Production entitlements   Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments                 MINISTRY OF ENERGY AND MINERALS         633,711,368 [A]         –         –         –         –         –         633,711,368 MINISTRY OF FINANCE         –           3,954,062,451         –         –         900,000         –         3,954,962,451 Total         633,711,368           3,954,062,451         –         –         900,000         –         4,588,673,819                   Project report (in USD)   Production entitlements   Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects                 BLOCK 6 CONCESSION         –           3,954,062,451         –         –         –         –         3,954,062,451 BLOCK 10 CONCESSION         633,711,368 [A]         –         –         –         400,000         –         634,111,368 BLOCK 11 CONCESSION         –           –         –         –         250,000         –         250,000 BLOCK 55 CONCESSION         –           –         –         –         250,000         –         250,000 Total         633,711,368           3,954,062,451         –         –         900,000         –         4,588,673,819 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. [A] Includes payment in kind of $60,839,756 for 4,551 kboe valuated at fixed price and of $572,871,612 for 7,095 kboe valuated at the government's selling price. Qatar Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               QATARENERGY         1,801,453,896         1,507,244,066         –         –         30,538,723         –         3,339,236,685 Total         1,801,453,896         1,507,244,066         –         –         30,538,723         –         3,339,236,685                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               PEARL GTL         1,801,453,896         1,507,244,066         –         –         30,538,723         –         3,339,236,685 Total         1,801,453,896         1,507,244,066         –         –         30,538,723         –         3,339,236,685 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. Australia Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               AUSTRALIAN TAXATION OFFICE         –         1,277,737,693         –         –         –         –         1,277,737,693 BANANA SHIRE COUNCIL         –         –         –         –         217,920         –         217,920 FEDERAL DEPARTMENT OF INDUSTRY, SCIENCE AND RESOURCES         –         –         111,989,284         –         –         –         111,989,284 QUEENSLAND REVENUE OFFICE         –         –         356,590,166         –         –         –         356,590,166 QUEENSLAND DEPARTMENT OF ENVIRONMENT AND SCIENCE         –         –         –         –         935,554         –         935,554 QUEENSLAND DEPARTMENT OF NATURAL RESOURCES AND MINES         –         –         –         –         581,472         –         581,472 RESOURCES SAFETY AND HEALTH QUEENSLAND         –         –         –         –         1,359,992         –         1,359,992 WESTERN DOWNS REGIONAL COUNCIL         –         –         –         –         10,317,519         266,428         10,583,947 Total         –         1,277,737,693         468,579,450         –         13,412,457         266,428         1,759,996,028                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               NORTH WEST SHELF         –         –         111,989,284         –         –         –         111,989,284 QGC         –         583,570,540         356,590,166         –         13,412,457         266,428         953,839,591 Entity level payment               SHELL AUSTRALIA PTY LTD         –         694,167,153         –         –         –         –         694,167,153 Total         –         1,277,737,693         468,579,450         –         13,412,457         266,428         1,759,996,028 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  Egypt Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               EGYPTIAN GENERAL PETROLEUM CORPORATION         –         41,164,348         –         1,836,435         –         –         43,000,783 Total         –         41,164,348         –         1,836,435         –         –         43,000,783                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               EGYPT OFFSHORE DEVELOPMENT         –         41,164,348         –         540,000         –         –         41,704,348 Entity level payment               SHELL EGYPT N.V.         –         –         –         1,296,435         –         –         1,296,435 Total         –         41,164,348         –         1,836,435         –         –         43,000,783 [I] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  Nigeria Government report (in USD) [1]   Production entitlements   Taxes   Royalties   Bonuses Fees Infrastructure improvements Total Governments                     FEDERAL INLAND REVENUE SERVICE         –           648,734,398 [A]         –           –         –         –         648,734,398 NATIONAL AGENCY FOR SCIENCE AND ENGINEERING INFRASTRUCTURE         –           –           –           –         3,931,917         –         3,931,917 NIGER DELTA DEVELOPMENT COMMISSION         –           –           –           –         97,260,899         –         97,260,899 NIGERIAN NATIONAL PETROLEUM CORPORATION         3,804,949,166 [B]         –           –           –         –         –         3,804,949,166 NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION         –           –           780,231,463 [C]         –         1,732,350         –         781,963,813 Total         3,804,949,166           648,734,398           780,231,463           –         102,925,166         –         5,336,840,193                       Project report (in USD)   Production entitlements   Taxes   Royalties   Bonuses Fees Infrastructure improvements Total Projects                     EAST ASSET         1,300,681,939 [D]         –           –           –         –         –         1,300,681,939 PSC 1993 (OML 133)         –           136,652,153 [E]         –           –         –         –         136,652,153 PSC 1993 (OPL 212/OML 118, OPL 219/OML 135)         649,948,707 [F]         303,125,852 [G]         452,170,096 [H]         –         32,015,797         –         1,437,260,452 WEST ASSET         1,854,318,520 [I]         –           –           –         –         –         1,854,318,520 Entity level payment                     SHELL NIGERIA EXPLORATION AND PRODUCTION COMPANY LIMITED             –           –           –         440,468         –         440,468 THE SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED             208,956,393           328,061,367             70,468,901           607,486,661 Total         3,804,949,166           648,734,398           780,231,463           –         102,925,166         –         5,336,840,193 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. [A] Includes payment in kind of $439,778,005 for 5,293 kboe valuated at market price. [B] Includes payment in kind of $3,804,949,166 for 80,289 kboe valuated at market price. [C] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.  [D] Includes payment in kind of $1,300,681,939 for 49,766 kboe valuated at market price.  [E] Includes payment in kind of $136,652,153 for 1,654 kboe valuated at market price.  [F] Includes payment in kind of $649,948,707 for 7,916 kboe valuated at market price.  [G] Includes payment in kind of $303,125,852 for 3,639 kboe valuated at market price.  [H] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.  [I] Includes payment in kind of $1,854,318,520 for 22,607 kboe valuated at market price. Sao Tome and Principe   Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               AGÊNCIA NACIONAL DO PETRÓLEO DE SÃO TOMÉ E PRÍNCIPE         –         –         –         1,300,000         –         –         1,300,000 Total         –         –         –         1,300,000         –         –         1,300,000                   Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               DW BLOCK 4         –         –         –         1,300,000         –         –         1,300,000 Total         –         –         –         1,300,000         –         –         1,300,000 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. Tanzania   Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               PETROLEUM UPSTREAM REGULATORY AUTHORITY         –         –         –         –         140,000         –         140,000 Total         –         –         –         –         140,000         –         140,000                   Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               BLOCK 1 AND 4         –         –         –         –         140,000         –         140,000 Total         –         –         –         –         140,000         –         140,000 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  Tunisia   Government report (in USD) [1]   Production entitlements Taxes Royalties   Bonuses Fees Infrastructure improvements Total Governments                 ENTREPRISE TUNISIENNE D'ACTIVITÉS PÉTROLIÈRES         –         –         2,140,627 [A]         –         –         –         2,140,627 LE RECEVEUR DES FINANCES DU LAC         –         24,904,580         2,801,006           –         –         –         27,705,586 Total         –         24,904,580         4,941,633           –         –         –         29,846,213                     Project report (in USD)   Production entitlements Taxes Royalties   Bonuses Fees Infrastructure improvements Total Projects                 HASDRUBAL CONCESSION         –         24,904,580         4,941,633 [A]         –         –         –         29,846,213 Total         –         24,904,580         4,941,633           –         –         –         29,846,213 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. [A] Includes payment in kind of $2,140,627 for 37 kboe valuated at market price.  Canada Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               GOVERNMENT OF ALBERTA         –         –         656,638         –         119,099         –         775,737 MINISTRY OF FINANCE (BRITISH COLUMBIA)         –         –         2,915,313         –         625,526         –         3,540,839 MINISTRY OF JOBS, ECONOMIC DEVELOPMENT AND INNOVATION (BRITISH COLUMBIA)         –         –         –         –         679,158         –         679,158 PROVINCIAL TREASURER OF ALBERTA         –         60,864,405         –         –         –         –         60,864,405 RECEIVER GENERAL FOR CANADA         –         111,702,667         1,126,040         –         –         –         112,828,707 Total         –         172,567,072         4,697,991         –         1,423,783         –         178,688,846                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               ATHABASCA OIL SANDS         –         172,567,072         –         –         –         –         172,567,072 FOOTHILLS         –         –         1,126,040         –         –         –         1,126,040 GREATER DEEP BASIN         –         –         656,638         –         119,099         –         775,737 GROUNDBIRCH         –         –         2,915,313         –         1,304,684         –         4,219,997 Total         –         172,567,072         4,697,991         –         1,423,783         –         178,688,846 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  Mexico Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               FONDO MEXICANO DEL PETRÓLEO PARA LA ESTABILIZACIÓN Y EL DESARROLLO         –         –         –         –         17,154,483         –         17,154,483 SERVICIO DE ADMINISTRACIÓN TRIBUTARIA         –         –         –         –         4,372,519         –         4,372,519 Total         –         –         –         –         21,527,002         –         21,527,002                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Entity level payment               MEXICO EXPLORATION DEEPWATER         –         –         –         –         21,527,002         –         21,527,002 Total         –         –         –         –         21,527,002         –         21,527,002 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. USA Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               ALASKA DEPARTMENT OF NATURAL RESOURCES         –         –         –         –         243,408         –         243,408 COMMONWEALTH OF PENNSYLVANIA         –         -400,000         –         –         –         –         -400,000 INTERNAL REVENUE SERVICE         –         53,638,500         –         –         –         –         53,638,500 LOUISIANA DEPARTMENT OF TRANSPORTATION AND DEVELOPMENT         –         –         –         –         –         860,822         860,822 OFFICE OF NATURAL RESOURCES REVENUE         –         –         1,187,594,021         –         80,435,119         –         1,268,029,140 Total         –         53,238,500         1,187,594,021         –         80,678,527         860,822         1,322,371,870                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               ALASKA EXPLORATION         –         –         –         –         243,408         –         243,408 GULF OF AMERICA (CENTRAL)         –         –         1,076,187,269         –         282,312         –         1,076,469,581 GULF OF AMERICA (WEST)         –         –         111,406,752         –         126,720         –         111,533,472 GULF OF AMERICA EXPLORATION         –         –         –         –         80,026,087         –         80,026,087 Entity level payment               SHELL EXPLORATION AND PRODUCTION COMPANY         –         -400,000         –         –         –         –         -400,000 SHELL OFFSHORE INC.         –         –         –         –         –         860,822         860,822 SHELL PETROLEUM INC.         –         53,638,500         –         –         –         –         53,638,500 Total         –         53,238,500         1,187,594,021         –         80,678,527         860,822         1,322,371,870 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.  Argentina Government report (in USD) [1]   Production entitlements   Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments                 AGENCIA DE RECAUDACIÓN Y CONTROL ADUANERO         –           1,984,309         –         –         –         –         1,984,309 GAS Y PETRÓLEO DEL NEUQUÉN S.A.         53,082,051 [A]         –         –         –         –         –         53,082,051 PROVINCIA DE SALTA         –           –         2,475,819         –         –         –         2,475,819 PROVINCIA DEL NEUQUÉN         –           –         141,493,849         –         123,276         –         141,617,125 Total         53,082,051           1,984,309         143,969,668         –         123,276         –         199,159,304                   Project report (in USD)   Production entitlements   Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects                 ACAMBUCO         –           –         2,475,819         –         –         –         2,475,819 ARGENTINA UNCONVENTIONAL PROJECTS         53,082,051 [A]         1,984,309         141,493,849         –         123,276         –         196,683,485 Total         53,082,051           1,984,309         143,969,668         –         123,276         –         199,159,304 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. [A] Includes payment in kind of $53,082,051 for 785 kboe valuated at market price. Brazil Government report (in USD) [1]   Production entitlements   Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments                 AGÊNCIA NACIONAL DO PETRÓLEO GÁS NATURAL E BIOCOMBUSTÍVEIS         –           –         –         9,540,351         –         –         9,540,351 MINISTÉRIO DA FAZENDA         –           –         1,147,687,680         –         1,556,282,443         –         2,703,970,123 PRÉ-SAL PETRÓLEO S.A.         327,688,819 [A]         –         –         –         –         –         327,688,819 RECEITA FEDERAL DO BRASIL         –           656,740,954         –         –         –         –         656,740,954 Total         327,688,819           656,740,954         1,147,687,680         9,540,351         1,556,282,443         –         3,697,940,247                   Project report (in USD)   Production entitlements   Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects                 BASIN EXPLORATION PROJECTS         –           –         –         9,540,351         3,244,993         –         12,785,344 BC-10         –           –         31,254,519         –         1,251,598         –         32,506,117 BIJUPIRA AND SALEMA         –           –         –         –         501,608         –         501,608 BM-S-9, BM-S-9A, BM-S-11, BM-S-11A AND ENTORNO DE SAPINHOÁ         29,716,011 [B]         –         882,483,636         –         1,551,284,244         –         2,463,483,891 LIBRA PSC         297,972,808 [C]         –         233,949,525         –         –         –         531,922,333 Entity level payment                 SHELL BRASIL PETROLEO LTDA.         –           656,740,954         –         –         –         –         656,740,954 Total         327,688,819           656,740,954         1,147,687,680         9,540,351         1,556,282,443         –         3,697,940,247 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. [A] Includes payment in kind of $327,688,819 for 4,585 kboe valuated at market price.  [B] Includes payment in kind of $29,716,011 for 410 kboe valuated at market price.  [C] Includes payment in kind of $297,972,808 for 4,175 kboe valuated at market price. Colombia Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               AGENCIA NACIONAL DE HIDROCARBUROS         –         –         –         –         489,880         –         489,880 Total         –         –         –         –         489,880         –         489,880                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               COLOMBIA EXPLORATION (OPERATED)         –         –         –         –         489,880         –         489,880 Total         –         –         –         –         489,880         –         489,880 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. Trinidad and Tobago Government report (in USD) [1]   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Governments               MINISTRY OF FINANCE         –         561,771         –         –         –         –         561,771 MINISTRY OF ENERGY AND ENERGY INDUSTRIES         362,690,585         –         2,210,566         300,000         13,719,070         –         378,920,221 Total         362,690,585         561,771         2,210,566         300,000         13,719,070         –         379,481,992                 Project report (in USD)   Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total Projects               BLOCK 5C         84,428,910         –         –         –         1,714,071         –         86,142,981 CENTRAL BLOCK         –         561,771         2,210,566         –         900,921         –         3,673,258 COLIBRI         120,876,414         –         –         –         3,332,208         –         124,208,622 DEEPWATER ATLANTIC AREA         –         –         –         –         537,570         –         537,570 EAST COAST MARINE AREA         99,098,428         –         –         –         2,100,156         –         101,198,584 EXPLORATION         –         –         –         300,000         2,017,530         –         2,317,530 MANATEE         –         –         –         –         847,999         –         847,999 NORTH COAST MARINE AREA 1         58,286,833         –         –         –         2,268,615         –         60,555,448 Total         362,690,585         561,771         2,210,566         300,000         13,719,070         –         379,481,992 [1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report. Cautionary noteThe companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this Report “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 Report 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.

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