ShellNYSE: SHEL

Shell plc (NYSE:SHEL ) Q3 2024 Earnings Conference Call October 31, 2024 9:30 AM ET Company Participants Wael Sawan - CEO Sinead Gorman - CFO Conference Call Participants Josh Stone - UBS Ryan Todd - Piper Sandler Lydia Rainforth - Barclays Biraj Borkhataria - Royal Bank of Canada Alastair Syme - Citi Rodger Reed - Wells Fargo Michele Della Vigna - Goldman Sachs Irene Himona - Bernstein Giacomo Romeo - Jefferies Lucas Herrmann - BNP Matt Lofting - JP Morgan Doug Leggate - Wolfe Research Kim Fustier - HSBC Christopher Kuplent - Bank of America Martijn Rats - Morgan Stanley Wael Sawan Thank you for joining us today. We hope that after watching this presentation, you've seen we delivered strong results in the quarter and how we are well-positioned to remain resilient throughout the cycle.

Shell PLC SHEL shares are trading relatively flat on Friday.

Transaction in Own Shares 01 November, 2024 • • • • • • • • • • • • • • • • Shell plc (the ‘Company') announces that on 01 November 2024 it purchased the following number of Shares for cancellation. Aggregated information on Shares purchased according to trading venue: Date of purchase Number of Shares purchased Highest price paid   Lowest price paid   Volume weighted average price paid per share Venue Currency 01/11/2024 840,000 £26.2400 £25.8350 £25.9779 LSE GBP 01/11/2024 - £0.0000 £0.0000 £0.0000 Chi-X (CXE) GBP 01/11/2024 - £0.0000 £0.0000 £0.0000 BATS (BXE) GBP 01/11/2024 625,000 €31.4500 €31.0400 €31.2768 XAMS EUR 01/11/2024 - €0.0000 €0.0000 €0.0000 CBOE DXE EUR 01/11/2024 - €0.0000 €0.0000 €0.0000 TQEX EUR These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 31 October 2024.

Shell PLC (LSE:SHEL, NYSE:SHEL) is firmly entrenched as one of RBC's top thirty investment ideas after its third-quarter update, with its appeal underpinned by what the Canadian bank describes as a 'fortress balance sheet'. Notable in the latest numbers was that the earnings beat was not driven by a single division but broad-based, RBC adds.

Shell should outperform the coming period of weak oil and gas prices. Mr. Market usually goes to extremes. Extreme pessimism often means a bargain price. The company will get its share of growth projects for a long-term growth rate in the single digits.

Transaction in Own Shares 31 October, 2024 • • • • • • • • • • • • • • • • Shell plc (the ‘Company') announces that on 31 October 2024 it purchased the following number of Shares for cancellation. Aggregated information on Shares purchased according to trading venue: Date of purchase Number of Shares purchased Highest price paid   Lowest price paid   Volume weighted average price paid per share Venue Currency 31/10/2024 840,000 £25.7650 £25.1600 £25.4658 LSE GBP 31/10/2024 - £0.0000 £0.0000 £0.0000 Chi-X (CXE) GBP 31/10/2024 - £0.0000 £0.0000 £0.0000 BATS (BXE) GBP 31/10/2024 625,000 €30.8650 €30.3650 €30.6160 XAMS EUR 31/10/2024 - €0.0000 €0.0000 €0.0000 CBOE DXE EUR 31/10/2024 - €0.0000 €0.0000 €0.0000 TQEX EUR These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 31 October 2024.

SHEL's acquisition of the RISEC power plant reinforces its foothold in New England, enhancing energy supply security and supporting decarbonization.

The British oil major beat forecasts in posting a 4% drop in its third-quarter profits to $6 billion in the face of a global slump in the market for refined products including diesel, jet fuel and gasoline

Shell PLC (LSE:SHEL, NYSE:SHEL) unveiled a smaller decline in third-quarter profits than expected and announced a repeat of the same dividend and $3.5 billion share buyback from previous quarters. The oil and gas supermajor reported quarterly adjusted profits of just over $6 billion, down 4% from the second quarter and compared to a year ago, but around 12% better than the average analyst forecast.