壳牌公司第三季度业绩未经审计的业绩

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

SUMMARY OF UNAUDITED RESULTS Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 %¹ Reference 2025 2024 % 5,322 3,601 4,291 +48 Income/(loss) attributable to Shell plc shareholders 13,703 15,166 -10 5,432 4,264 6,028 +27 Adjusted Earnings A 15,273 20,055 -24 14,773 13,313 16,005 +11 Adjusted EBITDA A 43,336 51,523 -16 12,207 11,937 14,684 +2 Cash flow from operating activities 33,425 41,522 -20 (2,257) (5,406) (3,857) Cash flow from investing activities (11,622) (10,723) 9,950 6,531 10,827 Free cash flow G 21,803 30,799 4,907 5,817 4,950 Cash capital expenditure C 14,899 14,161 9,275 8,265 9,570 +12 Operating expenses F 26,115 27,517 -5 8,998 8,145 8,864 +10 Underlying operating expenses F 25,596 26,569 -4 9.4% 9.4% 12.8% ROACE D 9.4% 12.8% 73,977 75,675 76,613 Total debt E 73,977 76,613 41,204 43,216 35,234 Net debt E 41,204 35,234 18.8% 19.1% 15.7% Gearing E 18.8% 15.7% 2,821 2,682 2,801 +5 Oil and gas production available for sale (thousand boe/d) 2,781 2,843 -2 0.91 0.61 0.69 +49 Basic earnings per share ($) 2.31 2.39 -3 0.93 0.72 0.96 +29 Adjusted Earnings per share ($) B 2.57 3.16 -19 0.3580 0.3580 0.3440 — Dividend per share ($) 1.0740 1.0320 +4

1.Q3 on Q2 change

Quarter Analysis1

Income attributable to Shell plc shareholders, compared with the second quarter 2025, reflected higher trading and optimisation margins, higher sales volumes and favourable tax movements, partly offset by higher operating expenses.

Third quarter 2025 income attributable to Shell plc shareholders also included gains on disposal of assets and impairment charges. These items are included in identified items amounting to a net loss of $0.1 billion in the quarter. This compares with identified items in the second quarter 2025 which amounted to a net loss of $0.3 billion.

Adjusted Earnings and Adjusted EBITDA2 were driven by the same factors as income attributable to Shell plc shareholders and adjusted for the above identified items.

Cash flow from operating activities for the third quarter 2025 was $12.2 billion and primarily driven by Adjusted EBITDA. This inflow was partly offset by tax payments of $2.7 billion.

Cash flow from investing activities for the third quarter 2025 was an outflow of $2.3 billion, and included cash capital expenditure of $4.9 billion. This outflow was partly offset by divestment proceeds of $1.8 billion.

Net debt and Gearing: At the end of the third quarter 2025, net debt was $41.2 billion, compared with $43.2 billion at the end of the second quarter 2025. This reflects free cash flow of $10.0 billion, partly offset by share buybacks of $3.6 billion, cash dividends paid to Shell plc shareholders of $2.1 billion, lease additions of $1.1 billion and interest payments of $0.8 billion. Gearing was 18.8% at the end of the third quarter 2025, compared with 19.1% at the end of the second quarter 2025, mainly driven by lower net debt, partly offset by lower equity which included a 0.4 percentage point increase related to a non-cash adjustment to the previously recognised pension surplus in the Netherlands, following formal acceptance by the Trustee Board of the transition plan related to changes in pension legislation3.

Story Continues

Shareholder distributions: Total shareholder distributions in the quarter amounted to $5.7 billion comprising repurchases of shares of $3.6 billion and cash dividends paid to Shell plc shareholders of $2.1 billion. Dividends to be paid to Shell plc shareholders for the third quarter 2025 amount to $0.3580 per share. Shell has now completed $3.5

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

billion of share buybacks announced in the second quarter 2025 results announcement. Today, Shell announces a share buyback programme of $3.5 billion which is expected to be completed by the fourth quarter 2025 results announcement.

Nine Months Analysis1

Income attributable to Shell plc shareholders, compared with the first nine months 2024, reflected lower realised liquids and LNG prices, lower trading and optimisation margins, and lower chemicals and refining margins, partly offset by favourable tax movements and lower operating expenses.

First nine months 2025 income attributable to Shell plc shareholders also included impairment charges and gains on disposal of assets, a charge related to the UK Energy Profits Levy and favourable movements due to the fair value accounting of commodity derivatives. These items are included in identified items amounting to a net loss of $1.2 billion. This compares with identified items in the first nine months 2024 which amounted to a net loss of $4.6 billion.

Adjusted Earnings and Adjusted EBITDA2 for the first nine months 2025 were driven by the same factors as income attributable to Shell plc shareholders and adjusted for identified items and the cost of supplies adjustment of $0.3 billion.

Cash flow from operating activities for the first nine months 2025 was $33.4 billion, and primarily driven by Adjusted EBITDA. This inflow was partly offset by tax payments of $9.0 billion and working capital outflows of $3.1 billion.

Cash flow from investing activities for the first nine months 2025 was an outflow of $11.6 billion and included cash capital expenditure of $14.9 billion. This outflow was partly offset by divestment proceeds of $2.3 billion and interest received of $1.5 billion.

This Unaudited Condensed Interim Financial Report, together with supplementary financial and operational disclosure for this quarter, is available at www.shell.com/investors 4.

1.All earnings amounts are shown post-tax, unless stated otherwise.

2.Adjusted EBITDA is without taxation, exploration well write-offs and depreciation, depletion and amortisation (DD&A) expenses.

3.See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements” for further details.

4.Not incorporated by reference.

PORTFOLIO DEVELOPMENTS

Upstream

In October 2025, we announced, together with Sunlink Energies and Resources Limited, a final investment decision (FID) on the HI gas project offshore Nigeria (Shell interest 40%).

Marketing

In September 2025, we announced the decision not to restart the construction of the planned biofuels facility at the Shell Energy and Chemicals Park in Rotterdam, which was paused in 2024. Following an in-depth commercial and technical evaluation to reassess the project's competitiveness, Shell will no longer proceed with the project.

Chemicals and Products

In July 2025, we completed the previously announced sale of our 16.125% interest in Colonial Enterprises, Inc. to Colossus Acquire Co LLC.

Page 2

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

PERFORMANCE BY SEGMENT

INTEGRATED GAS Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 %¹ Reference 2025 2024 % 2,355 1,838 2,631 +28 Income/(loss) for the period 6,982 7,846 -11 212 101 (240) Of which: Identified items A 619 (1,379) 2,143 1,737 2,871 +23 Adjusted Earnings A 6,363 9,225 -31 4,257 3,875 5,234 +10 Adjusted EBITDA A 12,867 16,410 -22 3,038 3,629 3,623 -16 Cash flow from operating activities A 10,129 12,518 -19 1,169 1,196 1,236 Cash capital expenditure C 3,482 3,429 130 129 136 — Liquids production available for sale (thousand b/d) 128 137 -6 4,667 4,545 4,669 +3 Natural gas production available for sale (million scf/d) 4,619 4,835 -4 934 913 941 +2 Total production available for sale (thousand boe/d) 925 971 -5 7.29 6.72 7.50 +8 LNG liquefaction volumes (million tonnes) 20.61 22.03 -6 18.88 17.77 17.04 +6 LNG sales volumes (million tonnes) 53.14 50.32 +6

1.Q3 on Q2 change

Integrated Gas includes liquefied natural gas (LNG), conversion of natural gas into gas-to-liquids (GTL) fuels and other products. It includes natural gas and liquids exploration and extraction, and the operation of the upstream and midstream infrastructure necessary to deliver these to market. Integrated Gas also includes the marketing, trading and optimisation of LNG.

Quarter Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the second quarter 2025, reflected the net effect of higher contributions from trading and optimisation and lower realised prices (increase of $208 million), and higher volumes (increase of $237 million), partly offset by higher operating expenses (increase of $108 million).

Identified items in the third quarter 2025 included favourable movements of $129 million due to the fair value accounting of commodity derivatives, and onerous contract related remeasurement of $99 million. These favourable movements compare with the second quarter 2025 which included favourable movements of $454 million due to the fair value accounting of commodity derivatives, partly offset by impairment charges of $423 million. As part of Shell's normal business, commodity derivative contracts are entered into as hedges for mitigation of economic exposures on future purchases, sales and inventory.

Adjusted EBITDA2 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the third quarter 2025 was primarily driven by Adjusted EBITDA, partly offset by working capital outflows of $802 million and tax payments of $796 million.

Total oil and gas production, compared with the second quarter 2025, increased by 2% mainly due to lower maintenance across the portfolio. LNG liquefaction volumes increased by 8% mainly due to lower maintenance across the portfolio and LNG Canada ramp-up.

Nine Months Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the first nine months 2024, reflected the combined effect of lower contributions from trading and optimisation and lower realised prices (decrease of $2,634 million), lower volumes (decrease of $482 million), and higher depreciation, depletion and amortisation expenses (increase of $275 million), partly offset by favourable deferred tax movements ($316 million), and lower operating expenses (decrease of $186 million).

Identified items in the first nine months 2025 included favourable movements of $946 million due to the fair value accounting of commodity derivatives, partly offset by impairment charges of $455 million. These favourable movements and charges are part of identified items and compare with the first nine months 2024 which included unfavourable movements of $1,198 million due to the fair value accounting of commodity derivatives. As part of Shell's normal business,

Page 3

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

commodity derivative contracts are entered into as hedges for mitigation of economic exposures on future purchases, sales and inventory.

Adjusted EBITDA2 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the first nine months 2025 was primarily driven by Adjusted EBITDA, and net cash inflows related to derivatives of $1,168 million. These inflows were partly offset by tax payments of $2,537 million and working capital outflows of $1,137 million.

Total oil and gas production, compared with the first nine months 2024, decreased by 5% mainly due to field decline and higher maintenance across the portfolio. LNG liquefaction volumes decreased by 6% mainly due to ownership restructuring in Trinidad and Tobago, and higher maintenance across the portfolio.

1.All earnings amounts are shown post-tax, unless stated otherwise.

2.Adjusted EBITDA is without taxation, exploration well write-offs and DD&A expenses.

Page 4

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

UPSTREAM Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 %¹ Reference 2025 2024 % 1,707 2,008 2,289 -15 Income/(loss) for the period 5,795 6,741 -14 (97) 276 (153) Of which: Identified items A (78) 28 1,804 1,732 2,443 +4 Adjusted Earnings A 5,873 6,712 -13 6,557 6,638 7,871 -1 Adjusted EBITDA A 20,582 23,588 -13 4,841 6,500 5,268 -26 Cash flow from operating activities A 15,286 16,734 -9 1,885 2,826 1,974 Cash capital expenditure C 6,634 5,813 1,399 1,334 1,321 +5 Liquids production available for sale (thousand b/d) 1,356 1,316 +3 2,513 2,310 2,844 +9 Natural gas production available for sale (million scf/d) 2,613 2,933 -11 1,832 1,732 1,811 +6 Total production available for sale (thousand boe/d) 1,806 1,822 -1

1.Q3 on Q2 change

The Upstream segment includes exploration and extraction of crude oil, natural gas and natural gas liquids. It also markets and transports oil and gas, and operates the infrastructure necessary to deliver them to the market.

Quarter Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the second quarter 2025, reflected higher volumes (increase of $298 million), favourable tax movements ($161 million) and lower well write-offs (decrease of $114 million), partly offset by higher depreciation, depletion and amortisation expenses (increase of $241 million) and unfavourable movements related to the rebalancing of participation interests in Brazil ($271 million)2.

Identified items in the third quarter 2025 included losses of $101 million related to the impact of inflationary adjustments in Argentinian peso on a deferred tax position, partly offset by a gain of $42 million related to the impact of the strengthening Brazilian real on a deferred tax position. These net unfavourable movements compare with the second quarter 2025 which included gains of $350 million related to disposal of assets.

Adjusted EBITDA3 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the third quarter 2025 was primarily driven by Adjusted EBITDA, partly offset by tax payments of $1,611 million.

Total production, compared with the second quarter 2025, increased mainly due to new oil production and comparative help from higher planned maintenance in the second quarter of 2025.

Nine Months Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the first nine months 2024, reflected lower realised liquids prices (decrease of $2,117 million), the comparative unfavourable impact of gas storage effects (decrease of $536 million), and unfavourable movements related to the rebalancing of participation interests in Brazil ($271 million)2. These net unfavourable movements were partly offset by higher volumes (increase of $660 million), lower well write-offs (decrease of $604 million), lower depreciation, depletion and amortisation expenses (decrease of $198 million) and lower operating expenses (decrease of $163 million).

Identified items in the first nine months 2025 included a charge of $509 million related to the UK Energy Profits Levy4, partly offset by gains of $524 million from disposal of assets. These net unfavourable movements compare with the first nine months 2024 which included gains of $676 million related to the impact of inflationary adjustments in Argentinian peso on a deferred tax position, partly offset by charges of $179 million related to redundancy and restructuring, net impairment charges and reversals of $171 million and a loss of $164 million related to the impact of the weakening Brazilian real on a deferred tax position.

Adjusted EBITDA3 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the first nine months 2025 was primarily driven by Adjusted EBITDA and dividends (net of profits) from joint ventures and associates of $1,305 million. These inflows were partly offset by tax payments of $5,557 million.

Page 5

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

Total production, compared with the first nine months 2024, decreased mainly due to the Shell Petroleum Development Company of Nigeria (SPDC) Limited divestment and field decline largely offset by new oil production.

1.All earnings amounts are shown post-tax, unless stated otherwise.

2.Reflects the finalisation of the redetermination proposal for the unitised Tupi field and subsequent submission to the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP).

3.Adjusted EBITDA is without taxation, exploration well write-offs and DD&A expenses.

4.Included in Other identified items. See Note 2 "Segment Information".

Page 6

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

MARKETING Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 %¹ Reference 2025 2024 % 576 766 507 -25 Income/(loss) for the period 2,155 1,606 +34 (759) (354) (422) Of which: Identified items A (1,161) (1,255) 1,316 1,199 1,182 +10 Adjusted Earnings A 3,416 3,046 +12 2,340 2,181 2,081 +7 Adjusted EBITDA A 6,389 5,767 +11 1,788 2,718 2,722 -34 Cash flow from operating activities A 6,414 5,999 +7 489 429 525 Cash capital expenditure C 1,173 1,634 2,824 2,813 2,945 — Marketing sales volumes (thousand b/d) 2,771 2,859 -3

1.Q3 on Q2 change

The Marketing segment comprises the Mobility, Lubricants, and Sectors and Decarbonisation businesses. The Mobility business operates Shell’s retail network including electric vehicle charging services and the Wholesale commercial fuels business which provides fuels for transport and industry. The Lubricants business produces, markets and sells lubricants for road transport, and machinery used in manufacturing, mining, power generation, agriculture and construction. The Sectors and Decarbonisation business sells fuels, speciality products and services including low-carbon energy solutions to a broad range of commercial customers including the aviation, marine, and agricultural sectors.

Quarter Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the second quarter 2025, reflected higher Marketing margins (increase of $270 million) including higher Mobility margins due to seasonal impact of higher volumes and higher Sectors and Decarbonisation margins, partly offset by lower Lubricants margins. These net gains were partly offset by higher operating expenses (increase of $145 million).

Identified items in the third quarter 2025 included impairment charges of $579 million and provisions of $186 million2, both mainly relating to the decision not to restart construction of the planned biofuels facility at the Shell Energy and Chemicals Park in Rotterdam. These charges and provisions compare with the second quarter 2025 which included net impairment charges and reversals of $285 million, net losses of $44 million related to the sale of assets, and charges of $44 million related to redundancy and restructuring.

Adjusted EBITDA3 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the third quarter 2025 was primarily driven by Adjusted EBITDA. This inflow was partly offset by working capital outflows of $220 million, the timing impact of payments related to emission certificates and biofuel programmes of $135 million, and tax payments of $111 million.

Marketing sales volumes (comprising hydrocarbon sales), compared with the second quarter 2025, increased mainly due to seasonality.

Nine Months Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the first nine months 2024, reflected higher Marketing margins (increase of $292 million) including higher Mobility and Lubricants margins due to improved unit margins, partly offset by lower Sectors and Decarbonisation margins, as well as lower operating expenses (decrease of $201 million).

Identified items in the first nine months 2025 included net impairment charges and reversals of $857 million and provisions of $186 million2, both of which included the impact of the decision not to restart construction of the planned biofuels facility at the Shell Energy and Chemicals Park in Rotterdam. These charges and provisions compare with the first nine months 2024 which included impairment charges of $965 million, charges of $163 million related to redundancy and restructuring, and net losses of $140 million related to the sale of assets.

Adjusted EBITDA3 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the first nine months 2025 was primarily driven by Adjusted EBITDA, the timing impact of payments related to emission certificates and biofuel programmes of $920 million and dividends (net of profits/

Page 7

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

losses) from joint ventures and associates of $421 million. These inflows were partly offset by working capital outflows of $497 million and tax payments of $417 million.

Marketing sales volumes (comprising hydrocarbon sales), compared with the first nine months 2024, decreased mainly in Mobility, due to portfolio changes, and in Sectors and Decarbonisation.

1.All earnings amounts are shown post-tax, unless stated otherwise.

2.Included in Other identified items. See Note 2 "Segment Information".

3.Adjusted EBITDA is without taxation and DD&A expenses.

Page 8

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

CHEMICALS AND PRODUCTS Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 %¹ Reference 2025 2024 % 1,074 (174) 91 +716 Income/(loss) for the period 822 1,946 -58 564 (51) (122) Of which: Identified items A (67) (1,078) 550 118 463 +366 Adjusted Earnings A 1,117 3,163 -65 1,667 864 1,240 +93 Adjusted EBITDA A 3,941 6,308 -38 2,088 1,372 3,321 +52 Cash flow from operating activities A 3,591 5,221 -31 813 775 761 Cash capital expenditure C 2,046 1,898 1,176 1,156 1,305 +2 Refinery processing intake (thousand b/d) 1,230 1,388 -11 2,147 2,164 3,015 -1 Chemicals sales volumes (thousand tonnes) 7,124 8,950 -20

1.Q3 on Q2 change

The Chemicals and Products segment includes chemicals manufacturing plants with their own marketing network, and refineries which turn crude oil and other feedstocks into a range of oil products which are moved and marketed around the world for domestic, industrial and transport use. The segment also includes the pipeline business, trading and optimisation of crude oil, oil products and petrochemicals, and Oil Sands activities (the extraction of bitumen from mined oil sands and its conversion into synthetic crude oil).

Quarter Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the second quarter 2025, reflected higher Products margins (increase of $706 million) mainly driven by higher margins from trading and optimisation, and higher refining margins. Adjusted Earnings also reflected higher Chemicals margins (increase of $96 million). These net gains were partly offset by unfavourable tax movements ($200 million) and higher operating expenses (increase of $133 million).

In the third quarter 2025, Chemicals had negative Adjusted Earnings of $207 million and Products had positive Adjusted Earnings of $758 million.

Identified items in the third quarter 2025 included net gains from the sale of assets of $710 million mainly relating to gains from the sale of our interest in Colonial Enterprises, Inc., and impairment charges of $107 million. These net gains compare with the second quarter 2025 which included impairment charges of $62 million.

Adjusted EBITDA2 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the third quarter 2025 was primarily driven by Adjusted EBITDA, the timing impact of payments for emission certificates and biofuel programmes of $493 million, and working capital inflows of $143 million. These inflows were partly offset by net cash outflows related to commodity derivatives of $165 million.

Refinery utilisation was 96% compared with 94% in the second quarter 2025.

Chemicals manufacturing plant utilisation was 80% compared with 72% in the second quarter 2025, mainly due to lower unplanned maintenance.

Nine Months Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the first nine months 2024, reflected lower Products margins (decrease of $1,619 million) driven mainly by lower margins from trading and optimisation and lower refining margins. Adjusted Earnings also reflected lower Chemicals margins (decrease of $458 million) and unfavourable tax movements ($168 million). These net losses were partly offset by lower operating expenses (decrease of $205 million).

In the first nine months 2025, Chemicals had negative Adjusted Earnings of $536 million and Products had positive Adjusted Earnings of $1,654 million.

Identified items in the first nine months 2025 included net gains from the sale of assets of $691 million mainly relating to gains from the sale of our interest in Colonial Enterprises, Inc., impairment charges of $447 million, unfavourable movements of $168 million due to the fair value accounting of commodity derivatives, and charges of $70 million related to redundancy and restructuring. As part of Shell's normal business, commodity derivative contracts are entered into as

Page 9

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

hedges for mitigation of economic exposures on future purchases, sales and inventory. These net charges and unfavourable movements compare with the first nine months 2024 which included net impairment charges and reversals of $952 million mainly relating to assets in Singapore, charges of $139 million related to redundancy and restructuring, and unfavourable movements of $69 million relating to the fair value accounting of commodity derivatives.

Adjusted EBITDA2 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the first nine months 2025 was primarily driven by Adjusted EBITDA and the timing impact of payments for emission certificates and biofuel programmes of $985 million. These inflows were partly offset by net cash outflows relating to commodity derivatives of $669 million, working capital outflows of $555 million, and non-cash cost of supplies adjustment of $318 million.

Refinery utilisation was 91% compared with 88% in the first nine months 2024, , mainly due to lower planned and unplanned maintenance in 2025.

Chemicals manufacturing plant utilisation was 78% compared with 77% in the first nine months 2024.

1.All earnings amounts are shown post-tax, unless stated otherwise.

2.Adjusted EBITDA is without taxation and DD&A expenses.

Page 10

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

RENEWABLES AND ENERGY SOLUTIONS Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 %¹ Reference 2025 2024 % 110 (254) (481) +143 Income/(loss) for the period (391) (3) -12,477 18 (245) (319) Of which: Identified items A (432) 183 92 (9) (162) +1,092 Adjusted Earnings A 41 (186) +122 223 102 (75) +118 Adjusted EBITDA A 436 101 +333 660 1 (364) +60,737 Cash flow from operating activities A 1,028 2,948 -65 517 555 409 Cash capital expenditure C 1,475 1,272 72 70 79 +4 External power sales (terawatt hours)2 218 230 -5 150 132 148 +14 Sales of pipeline gas to end-use customers (terawatt hours)3 465 487 -4

1.Q3 on Q2 change

2.Physical power sales to third parties; excluding financial trades and physical trade with brokers, investors, financial institutions, trading platforms, and wholesale traders.

3.Physical natural gas sales to third parties; excluding financial trades and physical trade with brokers, investors, financial institutions, trading platforms, and wholesale traders. Excluding sales of natural gas by other segments and LNG sales.

Renewables and Energy Solutions includes activities such as renewable power generation, the marketing and trading and optimisation of power and pipeline gas, as well as carbon credits, and digitally enabled customer solutions. It also includes the production and marketing of hydrogen, development of commercial carbon capture and storage hubs, investment in nature-based projects that avoid or reduce carbon emissions, and Shell Ventures, which invests in companies that work to accelerate the energy and mobility transformation.

Quarter Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the second quarter 2025, reflected higher margins (increase of $131 million), partly offset by higher operating expenses (increase of $31 million).

Most Renewables and Energy Solutions activities were loss-making in the third quarter 2025, these were more than offset by positive Adjusted Earnings from trading and optimisation and energy marketing.

Identified items in the third quarter 2025 included gains of $134 million related to the disposal of assets, partly offset by unfavourable movements of $87 million due to the fair value accounting of commodity derivatives. These gains and unfavourable movements compare with the second quarter 2025 which included unfavourable movements of $217 million due to the fair value accounting of commodity derivatives and impairment charges of $136 million, partly offset by gains of $108 million on sales of assets. As part of Shell's normal business, commodity derivative contracts are entered into as hedges for mitigation of economic exposures on future purchases, sales and inventory.

Adjusted EBITDA2 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the third quarter 2025 was primarily driven by working capital inflows of $960 million and Adjusted EBITDA. These inflows were partly offset by net cash outflows related to derivatives of $272 million and payments relating to emissions programmes of $264 million.

Nine Months Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the first nine months 2024, reflected lower operating expenses (decrease of $165 million) and higher margins (increase of $64 million), mainly due to higher generation and energy marketing margins, partly offset by lower trading and optimisation margins.

Most Renewables and Energy Solutions activities were loss-making for the first nine months 2025, these were more than offset by positive Adjusted Earnings from trading and optimisation.

Identified items in the first nine months 2025 included unfavourable movements of $284 million relating to the fair value accounting of commodity derivatives and impairment charges of $177 million, partly offset by gains on disposals of assets of $99 million. These net charges compare with the first nine months 2024 which included favourable movements of $250 million due to the fair value accounting of commodity derivatives, partly offset by net impairment charges and reversals of

Page 11

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

$89 million. As part of Shell's normal business, commodity derivative contracts are entered into as hedges for mitigation of economic exposures on future purchases, sales and inventory.

Adjusted EBITDA2 was driven by the same factors as Adjusted Earnings.

Cash flow from operating activities for the first nine months 2025 was primarily driven by working capital inflows of $1,212 million and Adjusted EBITDA. These inflows were partly offset by net cash outflows related to derivatives of $507 million.

1.All earnings amounts are shown post-tax, unless stated otherwise.

2.Adjusted EBITDA is without taxation and DD&A expenses.

Additional Growth Measures

Quarters Nine months Q3 2025 Q2 2025 Q3 2024 %¹ 2025 2024 % Renewable power generation capacity (gigawatt): 3.8 3.9 3.4 -1 – In operation2 3.8 3.4 +13 2.6 3.8 3.9 -32 – Under construction and/or committed for sale3 2.6 3.9 -34

1.Q3 on Q2 change

2.Shell's equity share of renewable generation capacity post commercial operation date. It excludes Shell's equity share of associates where information cannot be obtained.

3.Shell's equity share of renewable generation capacity under construction and/or committed for sale under long-term offtake agreements (PPA). It excludes Shell's equity share of associates where information cannot be obtained.

Page 12

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

CORPORATE Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 Reference 2025 2024 (402) (539) (647) Income/(loss) for the period (1,424) (2,656) (20) (77) (3) Of which: Identified items A (122) (1,069) (383) (463) (643) Adjusted Earnings A (1,302) (1,588) (272) (346) (346) Adjusted EBITDA A (879) (650) (208) (2,283) 115 Cash flow from operating activities A (3,022) (1,898)

The Corporate segment covers the non-operating activities supporting Shell. It comprises Shell’s holdings and treasury organisation, headquarters and central functions, self-insurance activities and centrally managed longer-term innovation portfolio. All finance expense, income and related taxes are included in Corporate Adjusted Earnings rather than in the earnings of business segments.

Quarter Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the second quarter 2025, reflected favourable tax movements and currency exchange rate effects, partly offset by unfavourable net interest movements and higher operating expenses.

Adjusted EBITDA2 was mainly driven by favourable currency exchange rate effects partly offset by higher operating expenses.

Cash flow from operating activities for the third quarter 2025 was primarily driven by Adjusted EBITDA.

Nine Months Analysis1

Income/(loss) for the period was driven by the same factors as Adjusted Earnings and includes identified items.

Adjusted Earnings, compared with the first nine months 2024, were primarily driven by favourable tax movements, partly offset by unfavourable net interest movements, currency exchange rate effects and operating expenses.

Identified items in the first nine months 2024 included reclassifications from equity to profit and loss of cumulative currency translation differences related to funding structures resulting in unfavourable movements of $1,122 million. These currency translation differences were previously recognised in other comprehensive income and accumulated in equity as part of accumulated other comprehensive income.

Adjusted EBITDA2 was mainly driven by unfavourable currency exchange rate effects and operating expenses.

Cash flow from operating activities for the first nine months 2025 was primarily driven by working capital outflows of $1,809 million, which included a reduction in joint venture deposits, as well as Adjusted EBITDA and tax payments of $464 million.

1.All earnings amounts are shown post-tax, unless stated otherwise.

2.Adjusted EBITDA is without taxation and DD&A expenses.

Page 13

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

OUTLOOK FOR THE FOURTH QUARTER 2025

Full year 2024 cash capital expenditure was $21 billion. Our cash capital expenditure range for the full year 2025 is expected to be within $20 - $22 billion.

Integrated Gas production is expected to be approximately 920 - 980 thousand boe/d. LNG liquefaction volumes are expected to be approximately 7.4 - 8.0 million tonnes.

Upstream production is expected to be approximately 1,770 - 1,970 thousand boe/d.

Marketing sales volumes are expected to be approximately 2,500 - 3,000 thousand b/d.

Refinery utilisation is expected to be approximately 87% - 95%. Chemicals manufacturing plant utilisation is expected to be approximately 71% - 79%.

Corporate Adjusted Earnings1 were a net expense of $383 million for the third quarter 2025. Corporate Adjusted Earnings are expected to be a net expense of approximately $600 - $800 million in the fourth quarter 2025.

1.For the definition of Adjusted Earnings and the most comparable GAAP measure see Reference A.

FORTHCOMING EVENTS

Date Event February 5, 2026 Fourth quarter 2025 results and dividends March 12, 2026 Publication of Annual Report and Accounts and filing of Form 20-F for the year ended December 31, 2025 May 7, 2026 First quarter 2026 results and dividends July 30, 2026 Second quarter 2026 results and dividends October 29, 2026 Third quarter 2026 results and dividends

Page 14

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF INCOME Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 2025 2024 68,153 65,406 71,089 Revenue1 202,793 218,031 507 712 933 Share of profit/(loss) of joint ventures and associates 1,834 3,150 1,751 326 440 Interest and other income/(expenses)2 2,379 1,042 70,410 66,443 72,462 Total revenue and other income/(expenses) 207,006 222,222 45,145 44,099 48,225 Purchases 135,093 144,509 5,609 4,909 6,138 Production and manufacturing expenses 16,068 17,541 3,258 3,077 3,139 Selling, distribution and administrative expenses 9,175 9,208 409 278 294 Research and development 872 768 175 360 305 Exploration 745 1,551 6,607 6,670 5,916 Depreciation, depletion and amortisation2 18,718 19,352 1,284 1,075 1,174 Interest expense 3,478 3,573 62,486 60,468 65,190 Total expenditure 184,148 196,502 7,924 5,975 7,270 Income/(loss) before taxation 22,858 25,717 2,504 2,332 2,879 Taxation charge/(credit)2 8,918 10,237 5,420 3,644 4,391 Income/(loss) for the period 13,940 15,480 98 43 100 Income/(loss) attributable to non-controlling interest 236 314 5,322 3,601 4,291 Income/(loss) attributable to Shell plc shareholders 13,703 15,166 0.91 0.61 0.69 Basic earnings per share ($)3 2.31 2.39 0.90 0.60 0.68 Diluted earnings per share ($)3 2.28 2.36

1.See Note 2 “Segment information”.

2.See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

3.See Note 3 “Earnings per share”.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 2025 2024 5,420 3,644 4,391 Income/(loss) for the period 13,940 15,480 Other comprehensive income/(loss) net of tax: Items that may be reclassified to income in later periods: (268) 4,127 2,947 – Currency translation differences1 5,569 1,651 10 7 35 – Debt instruments remeasurements 23 16 (86) (109) (75) – Cash flow hedging gains/(losses) (221) (7) 11 5 (2) – Deferred cost of hedging (26) (22) (18) 113 35 – Share of other comprehensive income/(loss) of joint ventures and associates 169 (27) (351) 4,143 2,940 Total 5,515 1,610 Items that are not reclassified to income in later periods: (4,628) 158 419 – Retirement benefits remeasurements1 (4,163) 1,169 (31) (8) 80 – Equity instruments remeasurements (55) 77 — (23) (53) – Share of other comprehensive income/(loss) of joint ventures and associates (59) 1 (4,659) 128 446 Total (4,277) 1,247 (5,010) 4,270 3,386 Other comprehensive income/(loss) for the period 1,238 2,857 411 7,914 7,777 Comprehensive income/(loss) for the period 15,178 18,337 140 122 177 Comprehensive income/(loss) attributable to non-controlling interest 366 357 271 7,792 7,600 Comprehensive income/(loss) attributable to Shell plc shareholders 14,811 17,981

1.See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

Page 15

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

CONDENSED CONSOLIDATED BALANCE SHEET $ million September 30, 2025 December 31, 2024 Assets Non-current assets Goodwill 16,034 16,032 Other intangible assets 9,546 9,480 Property, plant and equipment 183,907 185,219 Joint ventures and associates 23,729 23,445 Investments in securities 1,592 2,255 Deferred tax1 8,088 6,857 Retirement benefits1 5,527 10,003 Trade and other receivables 7,472 6,018 Derivative financial instruments2 665 374 256,562 259,683 Current assets Inventories 22,913 23,426 Trade and other receivables 45,287 45,860 Derivative financial instruments2 9,103 9,673 Cash and cash equivalents 33,053 39,110 110,357 118,069 Assets classified as held for sale1 10,819 9,857 121,176 127,926 Total assets 377,738 387,609 Liabilities Non-current liabilities Debt 63,955 65,448 Trade and other payables 4,671 3,290 Derivative financial instruments2 885 2,185 Deferred tax1 11,955 13,505 Retirement benefits1 7,632 6,752 Decommissioning and other provisions 21,197 21,227 110,296 112,407 Current liabilities Debt 10,022 11,630 Trade and other payables 56,816 60,693 Derivative financial instruments2 5,924 7,391 Income taxes payable 3,447 4,648 Decommissioning and other provisions 5,657 4,469 81,865 88,831 Liabilities directly associated with assets classified as held for sale1 7,755 6,203 89,620 95,034 Total liabilities 199,916 207,441 Equity attributable to Shell plc shareholders 175,823 178,307 Non-controlling interest 1,999 1,861 Total equity 177,822 180,168 Total liabilities and equity 377,738 387,609

1. See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

2. .See Note 6 “Derivative financial instruments and debt excluding lease liabilities”.

Page 16

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Equity attributable to Shell plc shareholders $ million Share capital1 Shares held in trust Other reserves² Retained earnings Total Non-controlling interest Total equity At January 1, 2025 510 (803) 19,766 158,834 178,307 1,861 180,168 Comprehensive income/(loss) for the period — — 1,108 13,703 14,811 366 15,178 Transfer from other comprehensive income — — 19 (19) — — — Dividends³ — — — (6,405) (6,405) (119) (6,524) Repurchases of shares4 (25) — 25 (10,556) (10,556) — (10,556) Share-based compensation — 360 (293) (419) (352) — (352) Other changes — — — 22 22 (109) (87) At September 30, 2025 485 (444) 20,625 155,157 175,823 1,999 177,822 At January 1, 2024 544 (997) 21,145 165,915 186,607 1,755 188,362 Comprehensive income/(loss) for the period — — 2,815 15,166 17,981 357 18,337 Transfer from other comprehensive income — — 166 (166) — — — Dividends3 — — — (6,556) (6,556) (242) (6,798) Repurchases of shares4 (25) — 25 (10,536) (10,536) — (10,536) Share-based compensation — 542 (24) (400) 119 — 119 Other changes — — — 60 60 (5) 55 At September 30, 2024 519 (456) 24,127 163,482 187,673 1,865 189,538

1. See Note 4 “Share capital”.

2. See Note 5 “Other reserves”.

3. The amount charged to retained earnings is based on prevailing exchange rates on payment date.

4. Includes shares committed to repurchase under an irrevocable contract and repurchases subject to settlement at the end of the quarter.

Page 17

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

CONSOLIDATED STATEMENT OF CASH FLOWS Quarters $ million Nine months Q3 2025 Q2 2025 Q3 2024 2025 2024 7,924 5,975 7,270 Income before taxation for the period 22,858 25,717 Adjustment for: 822 515 554 – Interest expense (net) 1,973 1,749 6,607 6,670 5,916 – Depreciation, depletion and amortisation1 18,718 19,352 49 206 150 – Exploration well write-offs 283 973 (1,068) (128) 154 – Net (gains)/losses on sale and revaluation of non-current assets and businesses (1,069) — (507) (712) (933) – Share of (profit)/loss of joint ventures and associates (1,834) (3,150) 700 2,361 860 – Dividends received from joint ventures and associates 3,584 2,390 352 (27) 2,705 – (Increase)/decrease in inventories 1,178 1,143 569 3,635 4,057 – (Increase)/decrease in current receivables 1,594 5,827 (949) (3,994) (4,096) – Increase/(decrease) in current payables (5,850) (7,314) (153) 626 735 – Derivative financial instruments 229 2,373 (61) (17) 125 – Retirement benefits (179) (267) 515 (425) 359 – Decommissioning and other provisions (391) (572) 74 684 (144) – Other 1,328 2,392 (2,668) (3,432) (3,028) Tax paid (8,999) (9,092) 12,207 11,937 14,684 Cash flow from operating activities 33,425 41,522 (4,557) (5,393) (4,690) Capital expenditure (13,698) (13,114) (342) (406) (222) Investments in joint ventures and associates (1,161) (983) (8) (17) (38) Investments in equity securities (40) (63) (4,907) (5,817) (4,950) Cash capital expenditure (14,899) (14,161) 747 (57) 94 Proceeds from sale of property, plant and equipment and businesses 1,249 1,128 1,023 1 94 Proceeds from joint ventures and associates from sale, capital reduction and repayment of long-term loans 1,057 284 2 19 6 Proceeds from sale of equity securities 27 576 468 508 593 Interest received 1,484 1,818 903 360 1,074 Other investing cash inflows1 1,768 2,814 (494) (420) (769) Other investing cash outflows (2,308) (3,183) (2,257) (5,406) (3,857) Cash flow from investing activities (11,622) (10,723) (72) (208) (89) Net increase/(decrease) in debt with maturity period within three months (200) (375) Other debt: 176 180 78 – New borrowings 495 377 (2,801) (4,075) (1,322) – Repayments (9,390) (7,008) (848) (1,212) (979) Interest paid (2,907) (3,177) (61) 896 652 Derivative financial instruments 1,161 239 7 — — Change in non-controlling interest (17) (5) Cash dividends paid to: (2,103) (2,122) (2,167) – Shell plc shareholders (6,403) (6,554) (6) (27) (92) – Non-controlling interest (119) (242) (3,610) (3,533) (3,537) Repurchases of shares (10,454) (10,319) (155) (5) 6 Shares held in trust: net sales/(purchases) and dividends received (927) (480) (9,473) (10,106) (7,452) Cash flow from financing activities (28,762) (27,545) (106) 655 729 Effects of exchange rate changes on cash and cash equivalents 902 224 371 (2,919) 4,105 Increase/(decrease) in cash and cash equivalents (6,057) 3,478 32,682 35,601 38,148 Cash and cash equivalents at beginning of period 39,110 38,774 33,053 32,682 42,252 Cash and cash equivalents at end of period 33,053 42,252

1.See Note 7 “Other notes to the unaudited Condensed Consolidated Interim Financial Statements”.

Page 18

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

1. Basis of preparation

These unaudited Condensed Consolidated Interim Financial Statements of Shell plc (“the Company”) and its subsidiaries (collectively referred to as “Shell”) have been prepared in accordance with IAS 34 Interim Financial Reporting as issued by the International Accounting Standards Board ("IASB") and adopted by the UK, and on the basis of the same accounting principles as those used in the Company's Annual Report and Accounts (pages 240 to 312) for the year ended December 31, 2024, as filed with the Registrar of Companies for England and Wales and as filed with the Autoriteit Financiële Markten (the Netherlands) and Amendment No. 1 to Form 20-F ("Form 20-F/A") (pages 10 to 83) for the year ended December 31, 2024, as filed with the US Securities and Exchange Commission, and should be read in conjunction with these filings.

The financial information presented in the unaudited Condensed Consolidated Interim Financial Statements 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, 2024, were published in Shell's Annual Report and Accounts, a copy of which was delivered to the Registrar of Companies for England and Wales. 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.

Key accounting considerations, significant judgements and estimates

Future commodity price assumptions, which represent a significant estimate, were changed in the second quarter 2025 (See Note 7). These remained unchanged in the third quarter 2025. Noting continued volatility in markets, price assumptions remain under review.

The discount rates applied for impairment testing and the discount rate applied to provisions are reviewed on a regular basis. Both discount rates applied in the first nine months 2025 remain unchanged compared with 2024.

2. Segment information

With effect from January 1, 2025, segment earnings are presented on an Adjusted Earnings basis (Adjusted Earnings), which is the earnings measure used by the Chief Executive Officer, who serves as the Chief Operating Decision Maker, for the purposes of making decisions about allocating resources and assessing performance. This aligns with Shell's focus on performance, discipline and simplification.

The Adjusted Earnings measure is presented on a current cost of supplies (CCS) basis and aims to facilitate a comparative understanding of Shell's financial performance from period to period by removing the effects of oil price changes on inventory carrying amounts and removing the effects of identified items. Identified items are in some cases driven by external factors and may, either individually or collectively, hinder the comparative understanding of Shell's financial results from period to period.

The segment earnings measure used until December 31, 2024 was CCS earnings. The difference between CCS earnings and Adjusted Earnings are the identified items. Comparative periods are presented below on an Adjusted Earnings basis.

ADJUSTED EARNINGS BY SEGMENT

Q3 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Income/(loss) attributable to Shell plc shareholders 5,322 Income/(loss) attributable to non-controlling interest 98 Income/(loss) for the period 2,355 1,707 576 1,074 110 (402) 5,420 Add: Current cost of supplies adjustment before taxation (25) 53 28 Add: Tax on current cost of supplies adjustment 6 (12) (6) Less: Identified items before taxation 215 (60) (988) 720 (8) (13) (133) Less: Tax on identified items (2) (37) 230 (156) 26 (7) 53 Adjusted Earnings 2,143 1,804 1,316 550 92 (383) 5,523 Adjusted Earnings attributable to Shell plc shareholders 5,432 Adjusted Earnings attributable to non-controlling interest 91

Page 19

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

Q2 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Income/(loss) attributable to Shell plc shareholders 3,601 Income/(loss) attributable to non-controlling interest 43 Income/(loss) for the period 1,838 2,008 766 (174) (254) (539) 3,644 Add: Current cost of supplies adjustment before taxation 104 333 436 Add: Tax on current cost of supplies adjustment (24) (91) (115) Less: Identified items before taxation (102) 271 (460) (64) (300) (63) (717) Less: Tax on identified items 203 5 106 13 55 (14) 369 Adjusted Earnings 1,737 1,732 1,199 118 (9) (463) 4,314 Adjusted Earnings attributable to Shell plc shareholders 4,264 Adjusted Earnings attributable to non-controlling interest 50

Q3 2024 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Income/(loss) attributable to Shell plc shareholders 4,291 Income/(loss) attributable to non-controlling interest 100 Income/(loss) for the period 2,631 2,289 507 91 (481) (647) 4,391 Add: Current cost of supplies adjustment before taxation 334 331 665 Add: Tax on current cost of supplies adjustment (81) (81) (162) Less: Identified items before taxation (327) (348) (526) (165) (430) 7 (1,789) Less: Tax on identified items 87 195 104 43 111 (10) 530 Adjusted Earnings 2,871 2,443 1,182 463 (162) (643) 6,153 Adjusted Earnings attributable to Shell plc shareholders 6,028 Adjusted Earnings attributable to non-controlling interest 126

Nine months 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Income/(loss) attributable to Shell plc shareholders 13,703 Income/(loss) attributable to non-controlling interest 236 Income/(loss) for the period 6,982 5,795 2,155 822 (391) (1,424) 13,940 Add: Current cost of supplies adjustment before taxation 131 318 449 Add: Tax on current cost of supplies adjustment (32) (91) (122) Less: Identified items before taxation 461 332 (1,493) (22) (567) (72) (1,361) Less: Tax on identified items 158 (410) 332 (45) 135 (50) 120 Adjusted Earnings 6,363 5,873 3,416 1,117 41 (1,302) 15,507 Adjusted Earnings attributable to Shell plc shareholders 15,273 Adjusted Earnings attributable to non-controlling interest 235

Page 20

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

Nine months 2024 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Income/(loss) attributable to Shell plc shareholders 15,166 Income/(loss) attributable to non-controlling interest 314 Income/(loss) for the period 7,846 6,741 1,606 1,946 (3) (2,656) 15,480 Add: Current cost of supplies adjustment before taxation 256 182 438 Add: Tax on current cost of supplies adjustment (70) (44) (114) Less: Identified items before taxation (1,663) (609) (1,649) (1,073) 238 (1,104) (5,859) Less: Tax on identified items 284 638 394 (5) (55) 35 1,290 Adjusted Earnings 9,225 6,712 3,046 3,163 (186) (1,588) 20,373 Adjusted Earnings attributable to Shell plc shareholders 20,055 Adjusted Earnings attributable to non-controlling interest 318

CASH CAPITAL EXPENDITURE BY SEGMENT

Cash capital expenditure is a measure used by the Chief Executive Officer for the purposes of making decisions about allocating resources and assessing performance.

Q3 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Capital expenditure 1,002 1,947 481 769 325 32 4,557 Add: Investments in joint ventures and associates 167 (62) 8 44 184 2 342 Add: Investments in equity securities — — — — 9 — 8 Cash capital expenditure 1,169 1,885 489 813 517 34 4,907

Q2 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Capital expenditure 988 2,774 427 704 468 32 5,393 Add: Investments in joint ventures and associates 209 52 1 71 72 1 406 Add: Investments in equity securities — — — — 16 2 17 Cash capital expenditure 1,196 2,826 429 775 555 36 5,817

Q3 2024 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Capital expenditure 1,090 1,998 488 748 327 39 4,690 Add: Investments in joint ventures and associates 147 (37) 37 13 59 3 222 Add: Investments in equity securities — 12 — — 23 3 38 Cash capital expenditure 1,236 1,974 525 761 409 45 4,950

Page 21

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

Nine months 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Capital expenditure 2,932 6,448 1,160 1,924 1,151 81 13,698 Add: Investments in joint ventures and associates 550 186 13 122 286 5 1,161 Add: Investments in equity securities — — — — 38 2 40 Cash capital expenditure 3,482 6,634 1,173 2,046 1,475 88 14,899

Nine months 2024 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Capital expenditure 2,971 5,533 1,559 1,822 1,124 104 13,114 Add: Investments in joint ventures and associates 457 268 75 76 103 5 983 Add: Investments in equity securities — 12 — — 45 6 63 Cash capital expenditure 3,429 5,813 1,634 1,898 1,272 114 14,161

REVENUE BY SEGMENT

Third-party revenue includes revenue from sources other than from contracts with customers, which mainly comprises the impact of fair value accounting of commodity derivatives.

Q3 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Revenue: Third-party 9,736 844 29,648 19,418 8,500 6 68,153 Inter-segment 2,397 9,313 1,796 9,774 1,162 — 24,442

Q2 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Revenue: Third-party 9,576 1,193 28,241 18,388 7,996 12 65,406 Inter-segment 2,412 8,502 2,177 8,775 835 — 22,701

Q3 2024 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Revenue: Third-party 9,748 1,605 30,519 22,608 6,599 10 71,089 Inter-segment 2,131 9,618 1,235 9,564 1,131 — 23,679

Nine months 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Revenue: Third-party 28,915 3,546 84,973 59,417 25,913 30 202,793 Inter-segment 7,484 27,669 5,822 26,804 3,161 — 70,940

Page 22

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

Nine months 2024 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Revenue: Third-party 27,996 4,954 92,564 70,926 21,558 33 218,031 Inter-segment 6,691 30,008 3,953 29,725 3,093 — 73,470

Identified items

The objective of identified items is to remove material impacts on net income/loss arising from transactions which are generally uncontrollable and unusual (infrequent or non-recurring) in nature or giving rise to a mismatch between accounting and economic results, or certain transactions that are generally excluded from underlying results in the industry.

Identified items comprise: divestment gains and losses, impairments and impairment reversals, redundancy and restructuring, fair value accounting of commodity derivatives and certain gas contracts that gives rise to a mismatch between accounting and economic results, the impact of exchange rate movements and inflationary adjustments on certain deferred tax balances, and other items.

Q3 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Identified items included in Income/(loss) before taxation Divestment gains/(losses) 31 7 26 917 149 — 1,130 Impairment reversals/(impairments) (36) (3) (730) (144) (13) (2) (930) Redundancy and restructuring (29) (5) (36) (36) (18) (10) (134) Fair value accounting of commodity derivatives and certain gas contracts1 147 (4) (24) (22) (121) — (23) Other2 101 (55) (224) 5 (4) — (176) Total identified items included in Income/(loss) before taxation 215 (60) (988) 720 (8) (13) (133) Total identified items included in Taxation (charge)/credit (2) (37) 230 (156) 26 (7) 53 Identified items included in Income/(loss) for the period Divestment gains/(losses) 32 16 32 710 134 — 923 Impairment reversals/(impairments) (32) 6 (579) (107) (11) (2) (724) Redundancy and restructuring (21) (3) (27) (28) (14) (7) (100) Fair value accounting of commodity derivatives and certain gas contracts1 129 (1) (26) (14) (87) — — Impact of exchange rate movements and inflationary adjustments on tax balances3 5 (59) — — — (11) (65) Other2 99 (55) (159) 4 (4) — (115) Impact on Income/(loss) for the period 212 (97) (759) 564 18 (20) (81) Impact on Income/(loss) attributable to non-controlling interest — — — — — — — Impact on Income/(loss) attributable to Shell plc shareholders 212 (97) (759) 564 18 (20) (81)

1.Fair value accounting of commodity derivatives and certain gas contracts: In the ordinary course of business, Shell enters into contracts to supply or purchase oil and gas products, as well as power and environmental products. Shell also enters into contracts for tolling, pipeline and storage capacity. Derivative contracts are entered into for mitigation of resulting economic exposures (generally price exposure) and these derivative contracts are carried at period-end market price (fair value), with movements in fair value recognised in income for the period. Supply and purchase contracts entered into for operational purposes, as well as contracts for tolling, pipeline and storage capacity, are, by contrast, recognised when the transaction occurs; furthermore, inventory is carried at historical cost or net realisable value, whichever is lower. As a consequence, accounting mismatches occur because: (a) the supply or purchase transaction is recognised in a different period; or (b) the inventory is measured on a different basis. In addition, certain contracts are, due to pricing or delivery conditions, deemed to contain embedded derivatives or written options and are also required to be carried at fair value even though they are entered into for operational purposes. The accounting impacts are reported as identified items.

2.Other identified items represent other credits or charges that based on Shell management's assessment hinder the comparative understanding of Shell's financial results from period to period.

3.Impact of exchange rate movements and inflationary adjustments on tax balances represents the impact on tax balances of exchange rate movements and inflationary adjustments arising on: (a) the conversion to dollars of the local currency tax base of non-monetary assets and liabilities, as well as recognised tax losses (this primarily impacts the Integrated Gas and Upstream segments); and (b) the conversion of dollar-denominated inter-segment loans to local currency, leading to taxable exchange rate gains or losses (this primarily impacts the Corporate segment).

Page 23

SHELL PLC
3rd QUARTER 2025 UNAUDITED RESULTS

Q2 2025 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Identified items included in Income/(loss) before taxation Divestment gains/(losses) 63 344 (56) (9) 119 (4) 457 Impairment reversals/(impairments) (672) (3) (370) (78) (138) — (1,261) Redundancy and restructuring (7) (6) (57) (37) (1) (12) (119) Fair value accounting of commodity derivatives and certain gas contracts1 514 1 23 61 (280) — 319 Other1 — (65) — (1) — (47) (113) Total identified items included in Income/(loss) before taxation (102) 271 (460) (64) (300) (63) (717) Total identified items included in Taxation (charge)/credit 203 5 106 13 55 (14) 369 Identified items included in Income/(loss) for the period Divestment gains/(losses) 54 350 (44) (7) 108 (3) 458 Impairment reversals/(impairments) (423) (2) (285) (62) (136) — (908) Redundancy and restructuring (4) (2) (44) (29) — (8) (88) Fair value accounting of commodity derivatives and certain gas contracts1 454 — 19 49 (217) — 307 Impact of exchange rate movements and inflationary adjustments on tax balances1 20 22 — — — (19) 23 Other1 — (92) — (1) — (47) (139) Impact on Income/(loss) for the period 101 276 (354) (51) (245) (77) (348) Impact on Income/(loss) attributable to non-controlling interest — — — — — — — Impact on Income/(loss) attributable to Shell plc shareholders 101 276 (354) (51) (245) (77) (348)

1.For a detailed description, see the corresponding footnotes to the Q3 2025 identified items table above.

Q3 2024 $ million Integrated Gas Upstream Marketing Chemicals and Products Renewables and Energy Solutions Corporate Total Identified items included in Income/(loss) before taxation Divestment gains/(losses) 1 (2) (110) (19) (20) (3) (154) Impairment reversals/(impairments) (6) (3) (195) (120) (14) — (338) Redundancy and restructuring (69) (189) (136) (141) (26) 10 (552) Fair v