Tag: GlobeNewswire

23, Place des Carmes-Déchaux – 63000 CLERMONT-FERRAND

Information about securities repurchasing program
Regulated information
Issuer social denomination: Michelin – LEI 549300SOSI58J6VIW052
Types of securities: ordinary shares – Code ISIN FR001400AJ45
Date : October 29th, 2026

Issuer Name	Issuer code	Transaction date	ISIN Code	Daily total volume (in number of actions)	Daily weighted average price of shares acquired	Platform
Compagnie Générale des Etablissements Michelin	549300SOSI58J6VIW052	29.10.2026	FR001400AJ45	212 973	30.7292 euros	Over-the-counter
Compagnie Générale des Etablissements Michelin	549300SOSI58J6VIW052	29.10.2026	FR001400AJ45	212 973	30.7292 euros	Over-the-counter
Compagnie Générale des Etablissements Michelin	549300SOSI58J6VIW052	29.10.2026	FR001400AJ45	212 973	30.7292 euros	Over-the-counter

Issuer Name	Issuer code	PSI Name	Issuer Code	Transaction date	ISIN Code	Unit Price	Currency	Quantity bought	Platform	Transaction reference number	Buyback objective
Compagnie Générale des Etablissements Michelin	549300SOSI58J6VIW052	NATIXIS	KX1WK48MPD4Y2NCUIZ63	29.10.2026	FR001400AJ45	30,7292	Euro	212 973	Over-the-counter	5309224	Cancellation
Compagnie Générale des Etablissements Michelin	549300SOSI58J6VIW052	BNP PARIBAS	R0MUWSFPU8MPRO8K5P83	29.10.2026	FR001400AJ45	30,7292	Euro	212 973	Over-the-counter	5309224	Cancellation
Compagnie Générale des Etablissements Michelin	549300SOSI58J6VIW052	SOCIETE GENERALE	O2RNE8IBXP4R0TD8PU41	29.10.2026	FR001400AJ45	30,7292	Euro	212 973	Over-the-counter	5309224	Cancellation

Attachment

• 20260813 – Disclosure of trading in own shares – October 29th, 2026

KALMAR CORPORATION, INSIDE INFORMATION, 29 OCTOBER 2026 AT 9:10 EET

Inside information: Kalmar updates its strategy and sets new performance targets for 2030 including a renewed framework for the capital allocation

The Board of Directors of Kalmar Corporation has approved an updated strategy and performance targets for the strategy period until 2030. The updated strategy shifts Kalmar’s focus towards accelerated growth and lifetime value and strengthens the company’s position as a forerunner in intelligent and sustainable heavy material handling solutions.

Kalmar’s strategic focus areas until 2030 are 1) Investing in sustainable innovations, 2) Accelerating services and customer lifetime value and 3) Driving growth.

Kalmar’s key performance targets by 2030 are:

• Sales growth exceeding 8% per annum over the cycle (previous target: 5%)
• Comparable operating profit margin of 16% by 2030 (previous target: 15% by 2028)
• Return on capital employed (ROCE) exceeding 25% by 2030 (unchanged)
• Eco portfolio accounting for more than 50% of sales by 2030 (new target)
• Services sales of EUR 800 million by 2030 (new target)
• Additional gross efficiency improvements of EUR 50 million by the end of 2030 (new target)

In addition to key performance targets, Kalmar remains committed to the near and long-term science-based emissions reduction targets with the Science Based Targets Initiative (SBTi).

Kalmar aims for a dividend payout ratio of 30–50% (unchanged). The leverage target is to have a net debt to EBITDA ratio below 2.5x (previously <2.0x). As part of its capital allocation framework, Kalmar aims to pursue targeted acquisitions that support its strategy and complement organic growth.

Kalmar’s guidance for 2026 remains unchanged: Kalmar expects its comparable operating profit margin to be above 12.5 percent in 2026.

“Over the past two years, we’ve built a strong foundation as an independent and more service focused company. Now, we are accelerating our sustainable and profitable growth with an even stronger focus on customer lifetime value. By delivering intelligent, autonomous, and data-driven sustainable solutions alongside expanded services, we empower our customers to thrive while delivering high value to our shareholders,” says Sami Niiranen, President and CEO of Kalmar.

President and CEO Sami Niiranen and other members of Kalmar’s leadership team will present the company’s updated strategy and performance targets in detail at Kalmar’s Capital Markets Day on November 2, 2026. The live webcast will begin at 1.00 p.m. EET and will include online Q&A sessions. Please register and join the webcast via the following link: https://kalmar.events.inderes.com/2026-cmd. The webcast is open to all interested parties. A recording will be available via the same link shortly after the event.

Kalmar Corporation

For more information, please contact:

Carina Geber-Teir, SVP, IR, Marketing & Communications, tel. +358 40 502 4697

About Kalmar
Kalmar (Nasdaq Helsinki: KALMAR) is moving goods in critical supply chains around the world, with the vision to be the forerunner in sustainable material handling equipment and services. The company offers a wide range of industry shaping heavy material handling equipment and services to ports and terminals, distribution centres, manufacturing and heavy logistics. Headquartered in Helsinki, Finland, Kalmar operates globally in over 120 countries and employs approximately 5,300 people. In 2025, the company’s sales totalled approximately EUR 1.7 billion. www.kalmarglobal.com 

TME Pharma Signs Binding Exclusive Negotiation Agreement with Japanese TMS Co., Ltd. 

• TME Pharma receives €150,000 for 6 months of exclusivity to negotiate a definitive agreement for worldwide rights to NOX-A12
• TMS Co., Ltd., a Japanese clinical stage biotechnology company, to establish a subsidiary (“Subsidiary”) to facilitate the financing and further clinical development of NOX-A12
• Non-binding terms negotiated as basis for further discussions. According to these terms, TME Pharma to receive the following upon signing of the definitive agreement:
   
  • Near-term payments of approximately €10M in a combination of cash and an interest in the Subsidiary (through shares and debt);
  • >€100 million in regulatory and commercial sales milestones;
  • Royalties of 8 – 10% on sales projected to peak at approximately $1 billion;
  • Sharing of any licensing fees received by Subsidiary.

Berlin, Germany, October 29, 2026, 8.15am CET – TME Pharma N.V. (Euronext Growth Paris: ALTME), a biotech-company with clinical assets for brain cancer and eye diseases, is pleased to announce a significant next step in the strategic options for its leading oncology asset, NOX-A12 (olaptesed pegol).

Following a thorough evaluation and discussions with potential partners, TME Pharma has selected TMS Co., Ltd. (“TMS”) as its preferred partner to advance the further development and commercialization of NOX-A12 for glioblastoma.

Key Terms of the Agreement
TME Pharma and TMS have entered into a binding exclusive negotiation agreement and a non-binding Term Sheet with the following key terms:        

• Exclusivity: TMS Co. will pay a non-refundable fee of €150,000 for a 6-month exclusive negotiation period may be extended with further payments. During this time, TME will neither solicit nor accept offers from third parties and will refrain from any discussions or negotiations with third parties with respect to licensing, developing and commercializing NOX-A12 with any third parties other than TMS and its Subsidiary.
• Non-binding terms subject to further negotiation for exclusive access to NOX-A12 include:
  • Upfront and near-term payments to TME Pharma of approximately €10M in a combination of cash and an interest in the Subsidiary (through shares and debt);
  • >€100 million in regulatory and commercial sales milestones;
  • Royalties of 8 – 10% on sales projected by TME Pharma to peak at approximately $1 billion;
  • Percentage of any sub-licensing fees received by Subsidiary;
  • Subsidiary to lead the financing process.
  • Further development of NOX-A12 with support of TME Pharma as partner and minority shareholder of subsidiary.

Timeline and Financing of the Phase 2 Study        
TME Pharma and TMS Co agreed on a clear roadmap to finalize the definitive agreement which is a key step towards enabling the rapid resumption of the NOX-A12 Phase 2 GLORIA study.

The partnership comes amid a recovery in biopharma capital markets and dealmaking. According to J.P. Morgan¹, biopharma licensing reached $166.7 billion in announced deal value and venture funding totaled $16.3 billion in the first half of 2026, with capital increasingly directed toward later-stage clinical programs.
TME Pharma and TMS Co believe that this environment is favorable for the planned financing through TMS’ Subsidiary and intend to leverage the strong and positive momentum for further clinical development to move as quickly as possible to the rollout of the approved Phase 2 GLORIA study with NOX-A12.

NOX-A12 has received Fast Track designation from the U.S. FDA and Orphan Drug designations in the U.S. and Europe. Compelling clinical results from the GLORIA study have recently been published in Nature Communications.

“By choosing TMS Co. Ltd., we believe we have found an excellent partner to unlock the full potential of NOX-A12 and bring value creation back on track by resuming clinical development for glioblastoma. Once the final agreement is successfully concluded and the TMS Subsidiary is ready to restart the GLORIA trial, TME Pharma’s shareholders can expect a cash inflow that, thanks to the company’s low operating costs and extended debt maturity, will significantly extend its financial horizon. Furthermore, substantial milestone and royalty payments can be expected if the program is a success, which we consider likely if the GLORIA study shows results that are as strong as the statistically significant survival data we have already observed and that were published in Nature Communications in April 2026. I believe that this alliance will be able to unlock tremendous potential for TME Pharma shareholders – our assessment using industry standard risk-adjusted valuation models (rNPV) for Phase 2 oncology assets indicates the substantial value of this transaction.”, Diede van den Ouden, CEO, said.

For more information, please contact:
TME Pharma N.V.
Diede van den Ouden, CEO
ir@tmepharma.com
www.tmepharma.com

About TME Pharma

TME Pharma is a biotechnology company with two assets with potential to be developed into novel therapies for cancer and eye diseases. The Company’s lead compounds have been designed to act on the tumor microenvironment (TME) and the cancer immunity cycle by breaking tumor protection barriers against the immune system and blocking tumor repair. The Company’s two lead assets are:

• NOX-A12 (olaptesed pegol, an anti-CXCL12 L-RNA aptamer), which has been studied (GLORIA Phase 1/2 clinical trial) in newly-diagnosed brain cancer patients who will not benefit clinically from standard chemotherapy. The US FDA and the German BfArM have approved the design of a randomized Phase 2 trial in glioblastoma, and TME Pharma was awarded Fast Track Designation by the FDA for NOX-A12 in combination with radiotherapy and bevacizumab for use in the treatment of the aggressive adult brain cancer, glioblastoma. NOX-A12 in combination with radiotherapy had also previously received orphan drug designation (ODD) for glioblastoma in the United States and glioma in Europe.
• NOX-E36 (emapticap pegol, L-RNA aptamer inhibiting CCL2 and related chemokines), for ophthalmic diseases with a high need for well-tolerated therapies with anti-fibrotic effect.

The Company is currently seeking opportunities to secure the financial resources to unlock the value of NOX-A12 and NOX-E36. These steps include:

• Finalizing the partnership with TMS Co., Ltd. For NOX-A12
• Raising funds from alternative sources to secure longer financial visibility and to minimize dilution for shareholders
• Seeking partners for NOX-E36, for example through licensing deals
• Pursuing stable, cash-generating business opportunities to achieve positive operational cash flow for the Company
• Leveraging tax loss carry forwards

About the GLORIA Study
The GLORIA (NCT04121455) ‘ready to go’-study is TME Pharma’s dose-escalation, Phase 1/2 study of NOX-A12 in combination with radiotherapy and bevacizumab in first-line partially resected or unresected glioblastoma (brain cancer) patients with unmethylated MGMT promoter (resistant to standard chemotherapy).

About the OPTIMUS Study
OPTIMUS (NCT04901741) is TME Pharma’s planned open-label two-arm Phase 2 study of NOX-A12 combined with pembrolizumab and nanoliposomal irinotecan/5-FU/leucovorin or gemcitabine/nab-paclitaxel in microsatellite-stable metastatic pancreatic cancer patients.

Further information can be found at: www.tmepharma.com.

Disclaimer
Translations of any press release into languages other than English are intended solely as a convenience to the non-English-reading audience. The company has attempted to provide an accurate translation of the original text in English, but due to the nuances in translating into another language, slight differences may exist. This press release includes certain disclosures that contain “forward-looking statements.” Forward-looking statements are based on TME Pharma’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, the risks inherent in oncology drug development, including clinical trials and the timing of and TME Pharma’s ability to obtain regulatory approvals for NOX-A12 as well as any other drug candidates. Forward-looking statements contained in this announcement are made as of this date, and TME Pharma undertakes no duty to update such information except as required under applicable law.

---

¹ https://www.jpmorgan.com/content/dam/jpmorgan/documents/cb/insights/outlook/jpm-biopharma-deck-q2-2026-2.pdf

Attachment

• TME Pharma Signs Binding Exclusive Negotiation Agreement with Japanese TMS Co., Ltd.

London, October 29, 2026

The Board of Shell plc today announced the intended timetable for the 2027 quarterly interim dividends.

2027 Interim Dividend Timetable

Event	4th Quarter 2026	1st Quarter 2027	2nd Quarter 2027	3rd Quarter 2027
Announcement date	February 4, 2027	April 29, 2027	July 29, 2027	October 28, 2027
Ex- Dividend Date for ADSs	February 19, 2027	May 14, 2027	August 13, 2027	November 12, 2027
Ex- Dividend Date for ordinary shares	February 18, 2027	May 13, 2027	August 12, 2027	November 12, 2027
Record date	February 19, 2027	May 14, 2027	August 13, 2027	November 12, 2027
Closing date for currency election (see Note below)	March 5, 2027	May 28, 2027	August 27, 2027	November 26, 2027
Pounds sterling and euro equivalents announcement date	March 15, 2027	June 7, 2027	September 6, 2027	December 6, 2027
Payment date	March 30, 2027	June 21, 2027	September 20, 2027	December 20, 2027

Note
A different currency election date may apply to shareholders holding shares in a securities account with a bank or financial institution ultimately holding through Euroclear Nederland. This may also apply to other shareholders who do not hold their shares either directly on the Register of Members or in the corporate sponsored nominee arrangement. Shareholders can contact their broker, financial intermediary, bank or financial institution for the election deadline that applies.

The 2027 interim dividend timetable is also available on www.shell.com/dividend.

Enquiries

Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

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 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 announcement 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.

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, including (without limitation) those concerning Shell’s strategy and operating plans, macroeconomic conditions, future energy demand, supply and product mix, commodity prices, demand for Shell’s products, production results and reserve estimates, development, execution and management of projects, energy transition and climate change, management of safety and environmental risks, costs, cash capital expenditures, technology advancements, legislative, judicial, fiscal and regulatory developments, regional conflicts and trading conditions,  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’’; “aspire”; “aspiration”; ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” 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, including climate change; (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 tariffs and 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, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy, or IT incident; (n) the pace of the energy transition; and (o) 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, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html 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, October 29, 2026. 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 intensity and net-zero emissions target

In this announcement we may refer to Shell’s “net carbon intensity” (NCI), which includes 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’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our combined Scope 1 and 2 target, NCI target and our oil products ambition over the next ten years. However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks 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.
The information provided above regarding Shell’s NCI and net zero emissions target are not intended, nor should they be construed as introducing, suggesting or making any claim, target or representation thereof other than what is included in this announcement.

Forward-Looking non-GAAP measures

This announcement may contain certain forward-looking non-GAAP measures such as free cash flow and underlying operating expenses. 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. These forward-looking non-GAAP measures are provided to assist readers in understanding management’s use and expectations of such measures and may not be appropriate for other purposes. 

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.

Shell plc 

Shell announces commencement of a share buyback programme

October 29, 2026

Shell plc (the ‘Company’) today announces the commencement of a $ 5 billion share buyback programme covering an aggregate contract term of approximately three months (the ‘programme’). The purpose of the programme is to reduce the issued share capital of the Company. All shares repurchased as part of the programme will be cancelled. It is intended that, subject to market conditions, the programme will be completed prior to the Company’s Q4 2026 results announcement.

The Company has entered into arrangements with two brokers consisting of two non-discretionary contracts: (i) one with a single broker to enable the purchase of ordinary shares on London market exchanges (the London Stock Exchange and/or on BATS and/or on Chi-X) (the ‘London contract’); and (ii) one with a single broker to enable the purchase of ordinary shares on Netherlands exchanges (Euronext Amsterdam and/or on CBOE Europe DXE and/or on Turquoise Europe) (the ‘Netherlands contract’), both arrangements for a period up to and including January 29, 2027. The aggregate maximum consideration for the purchase of ordinary shares under the London contract is $ 3 billion and the maximum consideration for the purchase of ordinary shares under the Netherlands contract is $ 2 billion. Purchases under the London contract will be carried out in accordance with the Company’s authority to repurchase shares on-market and will be effected within certain contractually agreed parameters. Purchases under the Netherlands contract will be carried out in accordance with the Company’s authority to repurchase shares off-market pursuant to the off-market share buyback contract approved by its shareholders and the parameters set out therein.

The maximum number of ordinary shares which may be purchased or committed to be purchased by the Company under the programme (across both contracts) is 470,000,000, which is the maximum number remaining as of the date of this announcement pursuant to the relevant authorities granted by shareholders at the Company’s 2026 Annual General Meeting.

The broker will make its trading decisions in relation to the Company’s securities independently of the Company.

The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules, Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (‘EU MAR’) and EU MAR as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced including by relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time and the Commission Delegated Regulation (EU) 2016/1052 (the ‘EU MAR Delegated Regulation’) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced, including by relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.

The Company has obtained an exemption from Canadian securities laws applicable to the programme (the ‘Canadian Exemption’), which applies so long as its ordinary shares are not listed or posted for trading on any stock exchange or marketplace in Canada, and residents of Canada do not beneficially own more than 10% of the total number of issued and outstanding ordinary shares. The Canadian Exemption is also subject to the following conditions: the share buybacks under the programme are carried out under applicable securities laws in the United Kingdom, the Netherlands and the European Union, as well as the trading rules of the applicable exchanges and markets; and the aggregate number of ordinary shares acquired by the Company within any period of 12 months does not exceed 10% of the outstanding ordinary shares, excluding treasury shares.

Enquiries

Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

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 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 announcement 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.

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, including (without limitation) those concerning Shell’s strategy and operating plans, macroeconomic conditions, future energy demand, supply and product mix, commodity prices, demand for Shell’s products, production results and reserve estimates, development, execution and management of projects, energy transition and climate change, management of safety and environmental risks, costs, cash capital expenditures, technology advancements, legislative, judicial, fiscal and regulatory developments, regional conflicts and trading conditions, 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’’; “aspire”, “aspiration”, ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” 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, including climate change; (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 tariffs and 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, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) 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, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html 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, 29 October 2026. 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 intensity and net-zero emissions target

In this announcement we may refer to Shell’s “net carbon intensity” (NCI), which includes 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’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our combined Scope 1 and 2 target, NCI target and our oil products ambition over the next ten years. However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks 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. 

The information provided above regarding Shell’s NCI and net zero emissions target are not intended, nor should they be construed as introducing, suggesting or making any claim, target or representation thereof other than what is included in the announcement.

Forward-Looking non-GAAP measures

This announcement may contain certain forward-looking non-GAAP measures such as free cash flow and underlying operating expenses. 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. These forward-looking non-GAAP measures are provided to assist readers in understanding management’s use and expectations of such measures and may not be appropriate for other purposes.

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.

London, October 29, 2026 − The Board of Shell plc (the “Company”) (XLON: SHEL, XNYS: SHEL, XAMS: SHELL) today announced an interim dividend in respect of the third quarter of 2026 of US$ 0.3906 per ordinary share.

Details relating to the third quarter 2026 interim dividend

Per ordinary share (GB00BP6MXD84)	Q3 2026
Shell Shares (US$)	0.3906

Shareholders will be able to elect to receive their dividends in US dollars, euros or pounds sterling.

An alternative ‘Electronic Election Entitlement’ (‘EEE’) process is available in CREST for dividends with options elections.

Absent any valid election to the contrary, persons holding their ordinary shares through Euroclear Nederland will receive their dividends in euros.

Absent any valid election to the contrary, shareholders (both holding in certificated and uncertificated form (CREST members)) and persons holding their shares through the Shell Corporate Nominee will receive their dividends in pounds sterling.

The pound sterling and euro equivalent dividend payments will be announced on December 7, 2026.

Per ADS (US7802593050)	Q3 2026
Shell ADSs (US$)	0.7812

Cash dividends on American Depositary Shares (“ADSs”) will be paid, by default, in US dollars.

Each ADS represents two ordinary shares. ADSs are evidenced by an American Depositary Receipt (“ADR”) certificate. In many cases the terms ADR and ADS are used interchangeably.

Dividend timetable for the third quarter 2026 interim dividend

Event	Date
Announcement date	October 29, 2026
Ex- Dividend Date for ADSs	November 13, 2026
Ex- Dividend Date for ordinary shares	November 12, 2026
Record date	November 13, 2026
Closing date for currency election (see Note below)	November 27, 2026
Pound sterling and euro equivalents announcement date	December 7, 2026
Payment date	December 21, 2026

Note

The closing time for the dividend currency election is 11:00am GMT on November 27, 2026. A different currency election date / time may apply to shareholders holding shares in a securities account with a bank or financial institution ultimately holding through Euroclear Nederland. This may also apply to other shareholders who do not hold their shares either directly on the Register of Members or in the corporate sponsored nominee arrangement. Shareholders can contact their broker, financial intermediary, bank or financial institution for the election deadline that applies.

Taxation – cash dividends

If you are uncertain as to the tax treatment of any dividends you should consult your tax advisor.

Dividend Reinvestment Programmes (“DRIP”)

The following organisations offer Dividend Reinvestment Plans (“DRIPs”) which enable the Company’s shareholders to elect to have their dividend payments used to purchase the Company’s shares:

• Equiniti Financial Services Limited (“EFSL”), for those holding shares (a) directly on the register as certificate holder or as CREST Member and (b) via the Shell Corporate Nominee;

• ABN-AMRO NV (“ABN”) for Financial Intermediaries holding shares via Euroclear Nederland;

• JPMorgan Chase Bank, N.A. (“JPM”) for holders of ADSs; and

• Other DRIPs may also be available from the intermediary through which investors hold their shares and ADSs.

These DRIP offerors provide their DRIPs fully on their account and not on behalf of the Company. Interested parties should contact the relevant DRIP offeror directly.

More information can be found at https://www.shell.com/drip

To be eligible to participate in the DRIPs for the next dividend, shareholders must make a valid dividend reinvestment election before the published date for the close of elections. 

Enquiries
Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

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 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 announcement 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.

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, including (without limitation) those concerning Shell’s strategy and operating plans, macroeconomic conditions, future energy demand, supply and product mix, commodity prices, demand for Shell’s products, production results and reserve estimates, development, execution and management of projects, energy transition and climate change, management of safety and environmental risks, costs, cash capital expenditures, technology advancements, legislative, judicial, fiscal and regulatory developments, regional conflicts and trading conditions, 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’’; “aspire”, “aspiration”, ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” 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, including climate change; (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 tariffs and 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, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) 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, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html 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, 29 October 2026. 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 intensity and net-zero emissions target
In this announcement we may refer to Shell’s “net carbon intensity” (NCI), which includes 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’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.

Shell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our combined Scope 1 and 2 target, NCI target and our oil products ambition over the next ten years. However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks 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.

The information provided above regarding Shell’s NCI and net zero emissions target are not intended, nor should they be construed as introducing, suggesting or making any claim, target or representation thereof other than what is included in the announcement.

Forward-Looking non-GAAP measures
This announcement may contain certain forward-looking non-GAAP measures such as free cash flow and underlying operating expenses. 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.  These forward-looking non-GAAP measures are provided to assist readers in understanding management’s use and expectations of such measures and may not be appropriate for other purposes. 

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.  

New Energy Group EPSO-G (legal entity code 302826889, registered office address Laisvės pr. 10, Vilnius, Lithuania)

On 28 October 2026, at the meeting of the Board of LITGRID AB, Mindaugas Keizeris, Chief Executive Officer of UAB EPSO-G, was elected Chairman of the Board of LITGRID AB with effect from 31 October 2026.

The EPSO-G group of companies consists of the holding company EPSO-G and its six direct subsidiaries Amber Grid, Baltpool, Energy cells, EPSO-G Invest, Litgrid and Tetas. EPSO-G and its Group companies also hold shares in Rheinmetall Defence Lietuva, Baltic RCC OÜ and TSO Holding AS. The rights and obligations of the sole shareholder of EPSO-G are exercised by the Ministry of Energy of the Republic of Lithuania.

For more information, contact
Gediminas Petrauskas, communication partner of EPSO-G
Tel: +370 610 63306, email: gediminas.petrauskas@epsog.lt

London, October 29, 2026

“Shell’s relentless focus on operational performance enabled very strong results in a quarter with continued severe disruption to the global energy system. I’m grateful to Shell’s teams around the world who continue to work tirelessly to produce and supply the energy our customers need.

We are further investing in our advantaged Integrated Gas business with the completion of the ARC Resources Ltd. acquisition and the final investment decision on LNG Canada Phase 2, supporting Shell’s long-term cash flow growth.

Our strong delivery allows us to announce a $5 billion share buyback programme for the next three months.”

Shell plc Chief Executive Officer, Wael Sawan

STRONG AND CONSISTENT OPERATIONAL PERFORMANCE

• Q3 2026 Adjusted Earnings¹ of $10.8 billion, reflects strong operational performance in a continued volatile and elevated commodity price environment with record refining margins.
• CFFO of $21.0 billion despite Middle East outages.
• Continued portfolio strengthening, including the ARC Resources and US Mobility acquisitions, FID on LNG Canada Phase 2, high-grading of the power portfolio, and divestment of non-core oil and gas assets in the US and Cyprus.
• Disciplined spending, with the cash capex outlook for 2026 (including ARC) in the $23 – 25 billion range.
• Strong balance sheet with post-ARC acquisition gearing of 16.6% (2.7% excluding leases).
• Announced $5 billion buybacks for the next 3 months.

$ million1		Adj. Earnings	Adj. EBITDA	CFFO	Cash capex
Integrated Gas		3,037	5,184	4,606	4,756
Upstream		3,189	9,269	7,281	1,691
Marketing		1,164	1,986	(210)	415
Chemicals & Products2		3,855	6,201	8,527	678
Renewables & Energy Solutions		289	373	1,558	342
Corporate		(705)	(277)	(719)	40
Less: Non-controlling interest (NCI)		14
Shell	Q3 2026	10,814	22,736	21,043	7,922
	Q2 2026	9,836	20,710	21,432	4,237

¹Income/(loss) attributable to shareholders for Q3 2026 is $12.1 billion. Reconciliation of non-GAAP measures can be found in the quarterly unaudited results, available on www.shell.com/investors.

²Chemicals & Products Adjusted Earnings at a subsegment level are as follows: Chemicals $0.1 billion and Products $3.8 billion.

• CFFO excluding working capital of $21.7 billion in Q3 2026 with tax paid of $3.2 billion and $2.4 billion outflow related to the timing impact of payments for emissions certificates relating to the German BEHG¹, offset by a derivative inflow of $3.4 billion.
• Working capital outflow of $0.6 billion reflects a reduction in JV deposits. $0.8 billion of the JV dividends received were previously held in deposit in the Corporate segment.
• Net debt of $39.7 billion includes ~$8 billion non-cash net debt reflecting variable component of long-term shipping leases in the current macro environment. Net debt excluding leases is $5.6 billion.

$ billion2	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Working capital	—	1.3	(11.2)	3.4	(0.6)
Divestment proceeds	1.8	0.1	0.4	0.5	2.7
Free cash flow	10.0	4.2	2.9	17.5	16.3
Net debt	41.2	45.7	52.6	41.8	39.7

¹Brennstoffemissionshandelsgesetz (Fuel Emissions Trading Act), historically paid in the 4th quarter of each calendar year.

²Reconciliation of non-GAAP measures can be found in the quarterly unaudited results, available on www.shell.com/investors.

Q3 2026 FINANCIAL PERFORMANCE DRIVERS

INTEGRATED GAS

Key data	Q2 2026	Q3 2026	Q4 2026 outlook
Realised liquids price ($/bbl)	80	69	—
Realised gas price ($/thousand scf)	7.2	8.3	—
Production (kboe/d)	631	772	1,080 – 1,180
LNG liquefaction volumes (MT)	7.7	7.4	7.3 – 7.9
LNG sales volumes (MT)	18.0	19.3	—

• Adjusted Earnings were higher than in Q2 2026, reflecting higher gas and LNG prices. Trading and Optimisation was in line with Q2 2026. 
• Q4 2026 production outlook reflects the ARC Resources acquisition, which completed on September 2, 2026.

UPSTREAM

Key data	Q2 2026	Q3 2026	Q4 2026 outlook
Realised liquids price ($/bbl)	89	84	—
Realised gas price ($/thousand scf)	8.3	10.0	—
Liquids production (kboe/d)	1,367	1,360	—
Gas production (million scf/d)	2,648	2,562	—
Total production (kboe/d)	1,824	1,802	1,700 – 1,900

• Adjusted Earnings were lower than in Q2 2026, reflecting lower liquids prices and higher well write-offs. 
• Q4 2026 production outlook includes allowance for weather-related impacts in the Gulf of America.

MARKETING

Key data	Q2 2026	Q3 2026	Q4 2026 outlook
Marketing sales volumes (kb/d)	2,570	2,581	2,400 – 2,600
Mobility (kb/d)	1,867	1,888	—
Lubricants (kb/d)	75	66	—
Sectors & Decarbonisation (kb/d)	627	627	—

• Adjusted Earnings were lower than in Q2 2026, reflecting weaker Mobility unit margins and lower Lubricants volumes.

CHEMICALS & PRODUCTS

Key data	Q2 2026	Q3 2026	Q4 2026 outlook
Refinery processing intake (kb/d)	1,267	1,211	—
Chemicals sales volumes (kT)	2,281	2,369	—
Refinery utilisation (%)	102	96	92 – 100
Chemicals manufacturing plant utilisation (%)	83	84	78 – 86
Global indicative refining margin ($/bbl)	24	42	—
Global indicative chemical margin ($/t)	270	208	—

• Adjusted Earnings were significantly higher than in Q2 2026, reflecting high refining margins and strong operational performance despite low water levels in the Rhine river.
• Trading and Optimisation was lower than in a very strong Q2 2026, driven by the impact of non-cash timing effects.

RENEWABLES & ENERGY SOLUTIONS

Key data	Q2 2026	Q3 2026
External power sales (TWh)	70	74
Sales of pipeline gas to end-use customers (TWh)	161	158
Renewables power generation capacity (GW)*	6.2	6.2
in operation (GW)	4.5	4.6
under construction and/or committed for sale (GW)	1.7	1.6

*Excludes Shell’s equity share of associates where information cannot be obtained.

• Adjusted Earnings were higher than in Q2 2026, mainly driven by Trading and Optimisation in Europe and the Americas.

CORPORATE

Key data	Q2 2026	Q3 2026	Q4 2026 outlook
Adjusted Earnings ($ billion)	(0.6)	(0.7)	(0.8) – (0.6)

• Shell Q4 2026 income/(loss) is expected to include the derecognition of the Netherlands defined benefit plan, which is expected to result in an identified, non-cash loss. As at 30 September, 2026, the estimated loss is $6.4 billion, subject to change in Q4. See Note 7 of the quarterly unaudited results, available on www.shell.com/investors/results-and-reporting/quarterly-results, for further details.

UPCOMING INVESTOR EVENTS

February 4, 2027 Capital Markets Update 2027 & Fourth quarter 2026 results and dividends

April 29, 2027 First quarter 2027 results and dividends

July 29, 2027 Second quarter 2027 results and dividends

October 28, 2027 Third quarter 2027 results and dividends

USEFUL LINKS

Results materials Q3 2026

Webcast registration Q3 2026

Dividend announcement Q3 2026

Capital Markets Day 2025 materials

Financial Modelling Guidance

LNG Portfolio – Strategic Spotlight 2026

Impact of Middle East conflict

ARC acquisition materials

ALTERNATIVE PERFORMANCE (NON-GAAP) MEASURES

This announcement includes certain measures that are calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles (GAAP) such as IFRS, including Adjusted Earnings, Adjusted EBITDA, CFFO excluding working capital movements, Cash capital expenditure, free cash flow, Divestment proceeds and Net debt. This information, along with comparable GAAP measures, is useful to investors because it provides a basis for measuring Shell plc’s operating performance and ability to retire debt and invest in new business opportunities. Shell plc’s management uses these financial measures, along with the most directly comparable GAAP financial measures, in evaluating the business performance.

This announcement may contain certain forward-looking non-GAAP measures such as free cash flow and underlying operating expenses. 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 the non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of the company, 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 estimated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.

CAUTIONARY STATEMENT

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 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 announcement 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.

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, including (without limitation) those concerning Shell’s strategy and operating plans, macroeconomic conditions, future energy demand, supply and product mix, commodity prices, demand for Shell’s products, production results and reserve estimates, development, execution and management of projects, energy transition and climate change, management of safety and environmental risks, costs, cash capital expenditures, technology advancements, legislative, judicial, fiscal and regulatory developments, regional conflicts and trading conditions, 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’’; “aspire”; “aspiration”; ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” 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, including climate change; (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 tariffs and 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, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) 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, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html 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, October 29, 2026. 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.

All amounts shown throughout this announcement are unaudited. The numbers presented throughout this announcement may not sum precisely to the totals provided and percentages may not precisely reflect the absolute figures, due to rounding.

The content of websites referred to in this announcement does 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.

The financial information presented in this announcement does not constitute statutory accounts within the meaning of section 434(3) of the Companies Act 2006 (“the Act”). Statutory accounts for the year ended December 31, 2025 were published in Shell’s Annual Report and Accounts, a copy of which was delivered to the Registrar of Companies for England and Wales, and in Shell’s Form 20-F. The auditor’s report on those accounts was unqualified, did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying the report and did not contain a statement under sections 498(2) or 498(3) of the Act.

The information in this announcement does not constitute the unaudited condensed consolidated financial statements which are contained in Shell’s third quarter 2026 unaudited results available on www.shell.com/investors.

CONTACTS

• Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

ICG Enterprise Trust plc (the “Company”)

29 October 2026

Transaction in Own Shares

The Company announces that on 28 October 2026 it bought back 15,000 of its own shares under the long-term buyback programme, to be held as treasury shares, at an average price of 1374 pence per share.

Further details are set out below:

• Number of shares held as treasury shares following settlement of this purchase: 3,572,500
• Total shares in issue excluding treasury shares following settlement of this purchase: 59,981,692

The Company has bought back these shares under the authority granted by shareholders at its Annual General Meeting in June 2026, which permits the Company to repurchase a maximum of 14.99% of its ordinary shares. The actual number of shares repurchased by the Company will depend on market conditions. This authority lasts until the next shareholder authority granted (expected to be at the Annual General Meeting in 2027), or until expressly revoked by shareholders.

No maximum consideration payable has been determined by the Company, but the Company is unable to pay a price for any shares pursuant to the buyback which would equate to a premium to the net asset value. It is the Company’s current intention to hold any shares bought back in treasury.

The Company has instructed Numis Securities Limited (trading for these purposes as Deutsche Numis) as its broker in respect of its buyback transactions. This arrangement is in accordance with the UKLA Listing Rules and the Company’s general authority to repurchase shares.

Analyst / Investor enquiries:

Chris Hunt
Shareholder Relations, ICG
+44 (0) 20 3545 2020

Andrew Lewis
Company Secretary, ICG
+44 (0) 20 3545 1344

Media:

Clare Glynn
Corporate Communications, ICG
+44 (0) 20 3545 1395

GROUP CEO’S REVIEW

Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS:

“In the third quarter of 2026, Arco Vara AS continued its operations in the real estate development sector. The objectives for the quarter were to sell apartments and commercial premises held in inventory and to continue pre-sales in the Spordi and Iili developments. Design work and a review of the business plan are currently underway at Luther Quarter.

The progress of each development project is summarised below:

• Iili development: Pre-sales at Kodulahe are progressing at a good pace. During the third quarter, five contracts under the Law of Obligations were signed. As of the publication date of this report, 42 apartments and four commercial premises had been pre-sold. Construction of Iili is progressing according to plan, with the signing of real rights contracts and the handover of apartments to customers scheduled to begin in November 2026.
• Spordi development: Sales could be progressing faster. As of the publication date of this report, 29 of the 56 apartments had been sold. During the third quarter, four contracts under the Law of Obligations were signed. The signing of real rights contracts and the handover of apartments to customers are scheduled for December 2026.
• Kuldlehe development: There were no changes during the quarter, and the final apartment remains unsold.
• Rannakalda development: During the quarter, two apartments and one commercial unit were sold in the Rannakalda development. After the reporting date, the final apartment was also sold, completing the sale of the entire Rannakalda development.
• Luther Quarter: Active design work and a review of the business plan are underway. The existing business plan did not meet the expectations of the company’s Supervisory Board, and the objective is to develop a business plan that meets the Supervisory Board’s return on equity expectations.
• Arcojärve: The detailed spatial plan approval process is in its final stages, but the plan has not yet been formally adopted. Based on the best information currently available, the detailed spatial plan could be approved in the fourth quarter of 2026.
• Botanica Lozen development in Bulgaria: During the third quarter, the company signed a preliminary agreement for the sale of a 75% ownership interest. The process is currently progressing according to plan.

Arco Vara’s loss in the third quarter is attributable to two development projects being in the construction phase. Revenue from pre-sales will be recognised following the conclusion of real rights contracts in the fourth quarter of 2026. Accordingly, we forecast an increase in revenue and profit in the fourth quarter.

Following the end of the third quarter, but before the publication of this report, changes were made to the composition of Arco Vara AS’s Supervisory Board, and the company’s Chief Executive Officer was also replaced. The aim of these changes is to strengthen shareholders’ oversight of the company’s management at a time when the Luther Quarter business plan did not meet the Supervisory Board’s return on equity expectations. Work is currently underway to determine what changes are required to the Luther Quarter business plan to ensure that it meets shareholders’ expectations. The next steps for Luther Quarter will become clearer over the coming quarters.

Arco Vara AS plans to introduce a change in its corporate culture, with a stronger focus on results, a winning mentality and a capitalist mindset. This means that future development projects will be undertaken only if the expected return on equity meets the expectations of the company’s shareholders.

I can confirm that the development projects currently under construction will be completed and handed over to our customers.”

KEY PERFORMANCE INDICATORS

The Group’s revenue for the first nine months of 2026 amounted to EUR 5,316 thousand, representing a decrease of EUR 308 thousand compared with the first nine months of 2025.

For the first nine months of 2026, the Group reported an operating loss (EBIT) of EUR 1,441 thousand and a net loss of EUR 1,533 thousand. In the first nine months of 2025, the Group generated an operating profit of EUR 622 thousand and a net profit of EUR 214 thousand.

During the third quarter of 2026, the Group sold 12 apartments in its development projects, of which 9 were sold under preliminary sale and purchase agreements and 3 under real right contracts. By comparison, in the third quarter of 2025, the Group sold 23 apartments, of which 17 were sold under a preliminary sale and purchase agreement and 6 under real right contracts.

As of 30 September 2026, the Group had 53 apartments available for sale across its development projects. As of 30 September 2025, the Group had 14 completed apartments and 1 commercial unit in inventory.

As of the end of the nine months of 2026, the Group’s net debt amounted to EUR 47,139 thousand, an increase of EUR 12,954 thousand compared with the end of the corresponding period of the previous year. The increase in net debt was primarily attributable to the utilisation of development loans to finance the construction of the Group’s ongoing real estate development projects. As of 30 September 2026, the weighted average interest rate on the Group’s interest-bearing liabilities was 8.83%.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

In thousands of euros	9M 2026	9M 2025	Q3 2026	Q3 2025
Revenue from sale of own real estate	4,924	5,260	860	2,407
Revenue from rendering of services	393	365	137	124
Total revenue	5,316	5,624	997	2,531
Cost of sales	-4,784	-3,953	-745	-1,884
Gross profit	532	1,672	252	647
Other income	207	2	117	2
Marketing and distribution expenses	-287	-328	-68	-135
Administrative expenses	-1,573	-718	-538	-156
Other expenses	-321	-5	0	-1
Operating profit	-1,441	622	-237	357
Finance income and costs	124	-28	-78	-1
Interest income and costs	-216	-368	-65	-100
Profit/ loss before tax	-1,533	226	-380	256
Income tax	0	-13	0	0
Net profit/ loss for the period	-1,533	214	-380	256
attributable to owners of the parent	-1,508	214	-355	256
attributable to non-controlling interests	-25	0	-25	0

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 

In thousands of euros	30 September 2026	31 December 2025
Cash and cash equivalents	2,993	2,784
Receivables and prepayments	2,638	6,420
Inventories	88,267	74,127
Total current assets	93,898	83,331
Receivables and prepayments	18	18
Investment property	20	2,296
Property, plant and equipment	48	551
Intangible assets	26	41
Total non-current assets	111	2,905
TOTAL ASSETS	94,010	86,236
Loans and borrowings	4,015	4,180
Payables and deferred income	6,201	8,560
Warranty provisions	272	347
Total current liabilities	10,487	13,087
Loans and borrowings	46,118	36,283
Payables and deferred income	375	503
Total non-current liabilities	46,493	36,786
TOTAL LIABILITIES	56,980	49,873
Share capital	12,158	12,158
Share premium	16,399	16,399
Statutory capital reserve	2,011	2,011
Other reserves	51	28
Retained earnings	5,767	6,593
Total Comprehensive Income for the Reporting Period	-1,533	-826
Total equity attributable to owners of the parent	34,853	36,363
Non-controlling interest	2,177	0
TOTAL EQUITY	37,029	36,363
TOTAL LIABILITIES AND EQUITY	94,010	86,236

Darja Bolshakova
CFO
Arco Vara AS
www.arcovara.com

Attachment

• Arco Vara report Q3 2026 ENG