Rejuvenate Your Engine Performance with Shell V-Power Racing

With more than a century of experience in fuel innovation, the latest formulation of Shell V-Power Racing offers unrivalled performance and efficiency for an exhilarating driving experience.

“Shell continues to reinforce our leadership in premium fuel with the most advanced formula of our best fuel, cementing our relentless commitment to meeting the rising demand for high-quality fuels and the evolving expectations of our customers. As such, our Shell V-Power Racing goes beyond conventional fuels, maximising engine performance and extends your thrilling experience on the road with each fill,” said Seow Lee Ming, General Manager, Mobility Malaysia.

“With the reduction in size, modern engines tend to expose fuels to tougher operating conditions where dirt can build up and that’s where Shell V-Power Racing is specifically designed to work even more effective under these conditions. Not only does it 100% clean critical engine parts but it also restores up to 100% of your engine performance to keep it running like new.**”

Available at all participating Shell stations nationwide, Shell V-Power Racing is Shell’s commitment to the brand’s evolving range of fuels and retail experiences worth stopping for. The brand’s most advanced fuel ever is:

• Delivering 3.93% more power, 3.69% quicker acceleration***,
• Restoring up to 100% of your engine’s performance**,
• The only fuel used, recommended, and trusted by Scuderia Ferrari

Speaking at the FOCM Festival 2024 organised by Ferrari Owners' Club Malaysia, Lee Ming shared, “We leverage our collaboration with Scuderia Ferrari in extreme racetrack conditions, where Shell V-Power Racing is the only fuel recommended by this highly successful team. These are the fuels that are available for our customers on the road.”

Powered by Shell V-Power Racing, the FOCM Festival 2024 stands as the nation’s largest gathering of over 300 Ferraristi, celebrating the rich history of the world’s most prestigious engines.

Stop by the nearest Shell stations and tap on the Shell App for more benefits and privileges along the way. The more you fill up, the more perks you earn.

Visit www.shell.com.my for more information.

Enquiries

PREMA JAYABALAN
Senior Manager, Media Relations and Issues Management,
Shell Malaysia
Prema.Jayabalan@shell.com

NAIM ZULKIFLI
Manager, Integrated Reputation
Edelman Public Relations
Naim.Zulkifli@edelman.com

Disclaimers

*Compared to previous generation Shell V-Power. Removes and protects from the build up of performance robbing deposits on key fuel system components such as intake valves and/or fuel injectors. Cleanliness and engine performance recovery demonstrated using industry standard and Shell proprietary tests. Actual effects and benefits may vary according to vehicle type, vehicle age, vehicle condition and driving style. No guarantees provided. See shell.com.my/V-Power for more information.

**Removes and protects from the build up of performance robbing deposits on key fuel system components such as intake valves and/or fuel injectors. Cleanliness and engine performance recovery demonstrated using industry standard and Shell proprietary tests. Actual effects and benefits may vary according to vehicle type, vehicle age, vehicle condition and driving style. No guarantees provided. See shell.com.my/VPower for more information.

***Measured using industry standard and Shell proprietary tests. Shell V-Power Racing gasoline compared to lower octane fuels, Shell FuelSave 95, in octane responsive vehicles. Actual effects and benefits may vary according to vehicle type, driving conditions and driving style. No guarantees provided. See shell.com.my/V-Power for more information.

Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement, “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to 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 announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. 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.

Forward-Looking Statements

This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No

assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2021 (available at www.shell.com/investor

and www.sec.gov

). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, 21^st May, 2024. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

Shell’s net carbon footprint

Also, in this announcement we may refer to Shell’s “Net Carbon Footprint” or “Net Carbon Intensity”, which include Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell’s “Net Carbon Footprint” or “Net Carbon Intensity” are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell’s net-Zero Emissions Target

Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Footprint (NCF) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCF target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.

Forward Looking Non-GAAP measures

This announcement may contain certain forward-looking non-GAAP measures such as cash capital expenditure and divestments. We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.

The contents of websites referred to in this announcement do not form part of this announcement.

We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.