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Shell plc (“Shell”) statement re BP plc (“BP”)

1. Shell clarifies no active interest in acquiring BP. 2. Statement addresses rumors about a potential BP offer. 3. Shell remains focused on sustainability and operational performance. 4. Shell bound by UK takeover regulations post-announcement.

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FAQ

Why Neutral?

Shell's official denial of interest in BP mitigates speculation's volatility, maintaining stability in stock value.

How important is it?

Shell's communication prevents negative speculation but demonstrates no potential for growth through M&A.

Why Short Term?

Immediate market reactions to acquisition rumors affect prices, but clarity stabilizes sentiment.

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BPXOMCVXTOT
June 26, 2025 02:00 ET  | Source: Shell plc NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION FOR IMMEDIATE RELEASE THIS ANNOUNCEMENT IS AN ANNOUNCEMENT UNDER RULE 2.8 OF THE UK CITY CODE ON TAKEOVERS AND MERGERS (THE “CODE”) 26 June 2025 Shell plc (“Shell”) statement re BP plc (“BP”) In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer. This is a statement to which Rule 2.8 of the Code applies and accordingly Shell confirms it has no intention of making an offer for BP. As a result Shell will be bound by the restrictions set out in Rule 2.8 of the Code. We remain focused on delivering more value with less emissions through performance, discipline and simplification. Under Note 2 on Rule 2.8 of the Code, Shell reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances: with the agreement of the board of BP;if a third party announces a firm intention to make an offer for BP;if BP announces a Rule 9 waiver (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); andif there has been a material change of circumstances (as determined by the Takeover Panel). The contents of this announcement will be available at www.shell.com. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement. ENQUIRIES Shell Media Relations International +44 207 934 5550; U.S. and Canada: Contact form LEI number of Shell plc: 21380068P1DRHMJ8KU70 Classification: Additional regulated information required to be disclosed under the laws of the United Kingdom.

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