Shell plc

Shell is a global group of energy and petrochemical companies, employing around 96,000 people [A] across more than 70 countries. We have activities ranging from oil and gas exploration and production to the marketing of fuels and lubricants, and research and development. We are increasingly offering our customers low-carbon energy solutions.

For more than a century, Shell has connected people and energy. We provide the energy people need to fuel their homes, hospitals, schools, vehicles, machinery and factories. Our purpose is to power progress together, by working with each other, our customers and our partners. Our vision [B] is to be the world's leading integrated energy company -- delivering impact at scale, connecting energy and people, matching supply to demand.

Shell's strategy is to deliver more value with less emissions as we work to become a net-zero emissions business by 2050. As we navigate the energy transition through the next decade, we will leverage our global footprint, the trust in our brand, and our innovation and technology capabilities to be the energy company that customers and countries choose to be their partner.

Our people and values

Whether they work on our platforms and pipelines, or in our offices and research labs, people are key to our success. They collectively determine our culture and we expect them to behave according to our values: honesty, integrity and respect for people.

We expect everyone at Shell to also comply with relevant laws and regulations to help us conduct business in an ethical and transparent manner. We firmly believe in the fundamental importance of trust, openness, teamwork and professionalism. The Board assesses and

monitors our culture and how it is embedded in our attitudes and behaviours, including in our activities and stakeholder relationships.

To realise our vision, we are transforming Shell to become a more focused and competitive business. Our extraordinary community of talent will approach the next decade of the energy transition with courage and determination. We expect Shell's people to care about each other, our work, and about doing business the right way with a focus on safety, people and sustainability.

The Shell General Business Principles set out our responsibilities to all our stakeholders. As part of these principles, we commit to contribute to sustainable development, and we have embedded this commitment into our strategy, our processes and decision-making. This requires balancing short- and long-term interests, integrating economic, environmental and social considerations into business decision-making. As we implement our strategy, we will also maintain our relentless focus on achieving our Goal Zero ambition: to do no harm to people and to have no leaks across operations. The Shell Code of Conduct explains how employees, contractors and anyone else acting on behalf of Shell must behave.

Strong relationships

We seek to build strong, trusted relationships with all our stakeholders, including our approximately 1 million commercial and industrial customers, and the around 33 million people we serve daily at our Shell-branded retail stations. Our stakeholders include: our employees, contractors and pensioners; the investor community; customers; our suppliers and strategic partners; regulators and governments; non-governmental organisations, civil society, academia and think tanks; and the communities where we work.

[A]At December 31, 2024, and including portfolio companies.

[B]A vision statement defines the desired future state of a company rather than a series of firm, binding commitments.

Strategic Report| Shell's strategy| This is Shell continued

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