SHELL PLC -- REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2024

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May 15, 2025

Shell plc – Report on Payments to Governments for the year 2024

Basis for preparation – Report on Payments to Governments for the year 2024
This Report provides a consolidated overview of the payments to governments made by Shell plc and its subsidiary undertakings (hereinafter referred to as “Shell”) for the year 2024 as required under the UK’s Reports on Payments to Governments Regulations 2014 (as amended in December 2015). These UK Regulations enact domestic rules in line with Directive 2013/34/EU (the EU Accounting Directive (2013)) and apply to large UK incorporated companies like Shell that are involved in the exploration, prospection, discovery, development and extraction of minerals, oil, natural gas deposits or other materials. This Report is also filed with the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism) intended to satisfy the requirements of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority in the United Kingdom. This Report is also published pursuant to article 5:25e of the Dutch FMSA (Wft) and is furnished with the US Securities and Exchange Commission (“SEC”) according to Section 13(q) under the US Securities Exchange Act of 1934.

This Report is available for download from www.shell.com/payments.

Legislation
This Report is prepared in accordance with The Reports on Payments to Governments Regulations 2014 as enacted in the UK in December 2014 and as amended in December 2015.

Reporting entities
This Report includes payments to governments made by Shell plc and its subsidiary undertakings (Shell). Payments made by entities where Shell has joint control are excluded from this Report.

Activities
Payments made by Shell to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals, oil and natural gas deposits or other materials (extractive activities) are disclosed in this Report. It excludes payments related to refining, natural gas liquefaction or gas-to-liquids activities. For a fully integrated project, which does not have an interim contractual cut-off point where a value can be attached or ascribed separately to the extractive activities and to other processing activities, payments to governments are not artificially split but are disclosed in full.

Government
Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government, including a national oil company.

Project
Payments are reported at project level, except those payments that are not attributable to a specific project which are reported at entity level. Project is defined as operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government. If such agreements are substantially interconnected, those agreements are to be treated as a single project.

“Substantially interconnected” means forming a set of operationally and geographically integrated contracts, licences, leases or concessions or related agreements with substantially similar terms that are signed with a government giving rise to payment liabilities. Such agreements can be governed by a single contract, joint venture, production sharing agreement or other overarching legal agreement. Indicators of integration include, but are not limited to, geographic proximity, the use of shared infrastructure and common operational management.

Payment
The information is reported under the following payment types:

Production entitlements
These are the host government’s share of production in the reporting period derived from projects operated by Shell. This includes the government’s share as a sovereign entity or through its participation as an equity or interest holder in projects within its sovereign jurisdiction (home country). Production entitlements arising from activities or interests outside of its home country are excluded.

In certain contractual arrangements, typically a production sharing contract, a government through its participation interest may contribute funding of capital and operating expenditure to projects, from which it derives production entitlement to cover such funding (cost recovery). Such cost recovery production entitlement is included.

In situations where a government settles Shell’s income tax obligation on behalf of Shell by utilising its share of production entitlements (typically under a tax-paid concession), such amount will be deducted from the reported production entitlement.

Taxes
These are taxes paid by Shell on its income, profits or production (which include resource severance tax and petroleum resource rent tax), including those settled by a government on behalf of Shell under a tax-paid concession. Payments are reported net of refunds. Consumption taxes, personal income taxes, sales taxes, property and environmental taxes are excluded.

Royalties
These are payments for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken.

Dividends
These are dividend payments other than dividends paid to a government as an ordinary shareholder of an entity unless paid in lieu of production entitlements or royalties. For the year ended December 31, 2024, there were no reportable dividend payments to a government.

Bonuses
These are payments for bonuses. These are usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced, or production has reached a milestone.

Licence fees, rental fees, entry fees and other considerations for licences and/or concessions
These are fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded. Also excluded are payments made in return for services provided by a government.

Infrastructure improvements
These are payments which relate to the construction of infrastructure (road, bridge or rail) not substantially dedicated for the use of extractive activities. Payments which are a social investment in nature, for example building of a school or hospital, are excluded.

Other
Operatorship
When Shell makes a payment directly to a government arising from a project, regardless of whether Shell is the operator, the full amount paid is disclosed even where Shell as the operator is proportionally reimbursed by its non-operating venture partners through a partner billing process (cash-call).

When a national oil company is the operator of a project to whom Shell makes a reportable payment, which is distinguishable in the cash-call, it is included in this Report.

Cash and in-kind payments
Payments are reported on a cash basis. In-kind payments are converted to an equivalent cash value based on the most appropriate and relevant valuation method for each payment, which can be at cost or market value, or such value as stated in the contract. In-kind payments are reported in both volumes and the equivalent cash value.

Materiality level
For each payment type, total payments below £86,000 to a government are excluded from this Report.

Exchange rate
Payments made in currencies other than US dollars are translated for this Report based on the foreign exchange rate at the relevant quarterly average rate.

Report on Payments to Governments [1]

Summary report (in USD)
Countries Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Europe






Germany 243,935,441 243,935,441
Italy 4,128,063 74,213,782 80,220,786 158,562,631
Norway 2,083,221,642 1,300,962,023 122,391 3,384,306,056
United Kingdom -16,649,747 11,483,529 -5,166,218
Asia






Brunei 3,983,642 44,229,620 8,660,091 56,873,353
China 10,343,616 10,343,616
India -17,715,638 -17,715,638
Kazakhstan 242,741,780 242,741,780
Malaysia 2,317,002,807 305,924,901 500,008,822 3,122,936,530
Middle East






Oman 633,711,368 3,954,062,451 900,000 4,588,673,819
Qatar 1,801,453,896 1,507,244,066 30,538,723 3,339,236,685
Oceania






Australia 1,277,737,693 468,579,450 13,412,457 266,428 1,759,996,028
Africa






Egypt 41,164,348 1,836,435 43,000,783
Nigeria 3,804,949,166 648,734,398 780,231,463 102,925,166 5,336,840,193
Sao Tome and Principe 1,300,000 1,300,000
Tanzania 140,000 140,000
Tunisia 24,904,580 4,941,633 29,846,213
North America






Canada 172,567,072 4,697,991 1,423,783 178,688,846
Mexico 21,527,002 21,527,002
USA 53,238,500 1,187,594,021 80,678,527 860,822 1,322,371,870
South America






Argentina 53,082,051 1,984,309 143,969,668 123,276 199,159,304
Brazil 327,688,819 656,740,954 1,147,687,680 9,540,351 1,556,282,443 3,697,940,247
Colombia 489,880 489,880
Trinidad and Tobago 362,690,585 561,771 2,210,566 300,000 13,719,070 379,481,992
Total11,387,783,97610,456,840,2014,322,795,16712,976,7861,913,987,0331,127,25028,095,510,413

[1] The figures in this Report are rounded.

Germany

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
FEDERAL CENTRAL TAX OFFICE 294,891,077 294,891,077
MUNICIPALITY OF COLOGNE -2,763,591 -2,763,591
MUNICIPALITY OF DINSLAKEN -386,534 -386,534
MUNICIPALITY OF GELSENKIRCHEN -483,145 -483,145
MUNICIPALITY OF OSTSTEINBEK 584,685 584,685
MUNICIPALITY OF WESSELING -3,943,262 -3,943,262
TAX AUTHORITY HAMBURG -43,963,789 -43,963,789
Total243,935,441243,935,441








Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Entity level payment





DEUTSCHE SHELL HOLDING GmbH 243,935,441 243,935,441
Total243,935,441243,935,441

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Italy

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
CALVELLO MUNICIPALITY 884,083 884,083
CORLETO PERTICARA MUNICIPALITY 1,964,671 1,964,671
GORGOGLIONE MUNICIPALITY 302,257 302,257
GRUMENTO NOVA MUNICIPALITY 505,190 505,190
MARSICO NUOVO MUNICIPALITY 378,893 378,893
MARSICOVETERE MUNICIPALITY 126,298 126,298
MONTEMURRO MUNICIPALITY 126,298 126,298
REGIONE BASILICATA 44,157,199 79,302,465 123,459,664
TESORERIA PROVINICIALE DELLO STATO 4,128,063 22,264,135 718,305 27,110,503
VIGGIANO MUNICIPALITY 3,504,758 200,016 3,704,774
Total4,128,06374,213,78280,220,786158,562,631








Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





ITALY UPSTREAM ASSET 4,128,063 74,213,782 80,220,786 158,562,631
Total4,128,06374,213,78280,220,786158,562,631

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Norway

Government report (in USD) [1]

Production entitlements
Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
EQUINOR ASA 853,946,278 [A] 853,946,278
PETORO AS 1,229,275,364 [B] 1,229,275,364
SKATTEETATEN
1,300,962,023 1,300,962,023
SOKKELDIREKTORATET
122,391 122,391
Total2,083,221,642
1,300,962,023122,3913,384,306,056


Project report (in USD)

Production entitlements
Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects






ORMEN LANGE 2,083,221,642 [C] 2,083,221,642
Entity level payment







A/S NORSKE SHELL
1,300,962,023 122,391 1,301,084,414
Total2,083,221,642
1,300,962,023122,3913,384,306,056

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $853,946,278 for 12,291 thousand barrels of oil equivalent (kboe) valuated at market price.

[B] Includes payment in kind of $1,229,275,364 for 17,693 kboe valuated at market price.

[C] Includes payment in kind of $2,083,221,642 for 29,984 kboe valuated at market price.

United Kingdom

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
HM REVENUE AND CUSTOMS -16,649,747 -16,649,747
NORTH SEA TRANSITION AUTHORITY 11,355,210 11,355,210
THE CROWN ESTATE SCOTLAND 128,319 128,319
Total-16,649,74711,483,529-5,166,218








Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





BRENT AND OTHER NORTHERN NORTH SEA PROJECTS -32,113,820 563,325 -31,550,495
ONEGAS WEST 3,232,597 3,232,597
UK EXPLORATION PROJECTS 1,117,783 1,117,783
UK OFFSHORE OPERATED 2,119,313 2,119,313
WEST OF SHETLAND NON-OPERATED 1,076,456 1,076,456
Entity level payment






SHELL U.K. LIMITED 15,464,073 3,374,055 18,838,128
Total-16,649,74711,483,529-5,166,218

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Brunei

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
MINISTRY OF FINANCE AND ECONOMY 44,229,620 44,229,620
PETROLEUM AUTHORITY OF BRUNEI DARUSSALEM 3,983,642 8,660,091 12,643,733
Total3,983,64244,229,6208,660,09156,873,353

Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Entity level payment





SHELL DEEPWATER BORNEO B.V. 39,001,133 39,001,133
SHELL EXPLORATION AND PRODUCTION BRUNEI B.V. 3,983,642 5,228,487 8,660,091 17,872,220
Total3,983,64244,229,6208,660,09156,873,353

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

China

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
TIANJIN MUNICIPAL TAXATION BUREAU 5,911,867 5,911,867
YULIN MUNICIPAL TAXATION BUREAU 4,431,749 4,431,749
Total10,343,61610,343,616

Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Entity level payment





SHELL CHINA EXPLORATION AND PRODUCTION COMPANY LIMITED 10,343,616 10,343,616
Total10,343,61610,343,616

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

India

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
INCOME TAX DEPARTMENT -17,715,638 -17,715,638
Total-17,715,638-17,715,638








Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Entity level payment





BG EXPLORATION AND PRODUCTION INDIA LIMITED -17,715,638 -17,715,638
Total-17,715,638-17,715,638

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Kazakhstan

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
WEST KAZAKHSTAN TAX COMMITTEE 242,741,780 242,741,780
Total242,741,780242,741,780

Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





KARACHAGANAK 242,741,780 242,741,780
Total242,741,780242,741,780

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Malaysia

Government report (in USD) [1]

Production entitlements
Taxes Royalties
Bonuses Fees Infrastructure improvements Total
Governments

BRUNEI NATIONAL PETROLEUM COMPANY SENDIRIAN BERHAD 301,048,915 [A]
301,048,915
LEMBAGA HASIL DALAM NEGERI
305,924,901
305,924,901
MALAYSIA FEDERAL AND STATE GOVERNMENTS
469,060,363 [B] 469,060,363
PETROLEUM SARAWAK EXPLORATION AND PRODUCTION SDN. BHD. 74,656,856 [C]
74,656,856
PETROLIAM NASIONAL BERHAD 990,078,563 [D] 30,948,459
1,021,027,022
PETRONAS CARIGALI SDN. BHD. 951,218,473 [E]
951,218,473
Total2,317,002,807
305,924,901500,008,822
3,122,936,530










Project report (in USD)

Production entitlements
Taxes Royalties
Bonuses Fees Infrastructure improvements Total
Projects







SABAH GAS (NON-OPERATED)
16,208,714 3,017,327
19,226,041
SABAH INBOARD AND DEEPWATER OIL 1,435,194,825 [F] 158,435,164 303,452,674 [G] 1,897,082,663
SARAWAK OIL AND GAS 881,807,982 [H] 116,047,586 193,538,821 [I] 1,191,394,389
Entity level payment








SABAH SHELL PETROLEUM COMPANY LIMITED
4,502,043
4,502,043
SARAWAK SHELL BERHAD
3,394,907
3,394,907
SHELL ENERGY ASIA LIMITED
2,616,753
2,616,753
SHELL OIL AND GAS (MALAYSIA) LLC
595,653
595,653
SHELL SABAH SELATAN SENDRIAN BERHAD
4,124,081
4,124,081
Total2,317,002,807
305,924,901500,008,822
3,122,936,530

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $301,048,915 for 3,355 thousand barrels of oil equivalent (kboe) valuated at market price.

[B] Includes payment in kind of $342,702,511 for 3,909 kboe valuated at market price and $126,357,852 for 6,336 kboe valuated at fixed price.

[C] Includes payment in kind of $59,554,178 for 3,011 kboe valuated at fixed price and $15,102,678 for 201 kboe valuated at market price.

[D] Includes payment in kind of $783,520,240 for 8,933 kboe valuated at market price and $209,732,743 for 10,921 kboe valuated at fixed price.

[E] Includes payment in kind of $624,146,940 for 7,163 kboe valuated at market price and $327,071,533 for 16,397 kboe valuated at fixed price.

[F] Includes payment in kind of $1,435,194,825 for 15,977 kboe valuated at market price.

[G] Includes payment in kind of $297,371,578 for 3,339 kboe valuated at market price.

[H] Includes payment in kind of $596,358,454 for 30,329 kboe valuated at fixed price and $288,623,948 for 3,675 kboe valuated at market price.

[I] Includes payment in kind of $126,357,852 for 6,336 kboe valuated at fixed price and $45,330,933 for 570 kboe valuated at market price.

Oman

Government report (in USD) [1]

Production entitlements
Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
MINISTRY OF ENERGY AND MINERALS 633,711,368 [A] 633,711,368
MINISTRY OF FINANCE
3,954,062,451 900,000 3,954,962,451
Total633,711,368
3,954,062,451900,0004,588,673,819


Project report (in USD)

Production entitlements
Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects






BLOCK 6 CONCESSION
3,954,062,451 3,954,062,451
BLOCK 10 CONCESSION 633,711,368 [A] 400,000 634,111,368
BLOCK 11 CONCESSION
250,000 250,000
BLOCK 55 CONCESSION
250,000 250,000
Total633,711,368
3,954,062,451900,0004,588,673,819

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $60,839,756 for 4,551 kboe valuated at fixed price and of $572,871,612 for 7,095 kboe valuated at the government's selling price.

Qatar

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
QATARENERGY 1,801,453,896 1,507,244,066 30,538,723 3,339,236,685
Total1,801,453,8961,507,244,06630,538,7233,339,236,685

Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





PEARL GTL 1,801,453,896 1,507,244,066 30,538,723 3,339,236,685
Total1,801,453,8961,507,244,06630,538,7233,339,236,685

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Australia

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
AUSTRALIAN TAXATION OFFICE 1,277,737,693 1,277,737,693
BANANA SHIRE COUNCIL 217,920 217,920
FEDERAL DEPARTMENT OF INDUSTRY, SCIENCE AND RESOURCES 111,989,284 111,989,284
QUEENSLAND REVENUE OFFICE 356,590,166 356,590,166
QUEENSLAND DEPARTMENT OF ENVIRONMENT AND SCIENCE 935,554 935,554
QUEENSLAND DEPARTMENT OF NATURAL RESOURCES AND MINES 581,472 581,472
RESOURCES SAFETY AND HEALTH QUEENSLAND 1,359,992 1,359,992
WESTERN DOWNS REGIONAL COUNCIL 10,317,519 266,428 10,583,947
Total1,277,737,693468,579,45013,412,457266,4281,759,996,028








Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





NORTH WEST SHELF 111,989,284 111,989,284
QGC 583,570,540 356,590,166 13,412,457 266,428 953,839,591
Entity level payment





SHELL AUSTRALIA PTY LTD 694,167,153 694,167,153
Total1,277,737,693468,579,45013,412,457266,4281,759,996,028

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Egypt

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
EGYPTIAN GENERAL PETROLEUM CORPORATION 41,164,348 1,836,435 43,000,783
Total41,164,3481,836,43543,000,783

Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





EGYPT OFFSHORE DEVELOPMENT 41,164,348 540,000 41,704,348
Entity level payment





SHELL EGYPT N.V. 1,296,435 1,296,435
Total41,164,3481,836,43543,000,783

[I] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Nigeria

Government report (in USD) [1]

Production entitlements
Taxes
Royalties
Bonuses Fees Infrastructure improvements Total
Governments


FEDERAL INLAND REVENUE SERVICE
648,734,398 [A]
648,734,398
NATIONAL AGENCY FOR SCIENCE AND ENGINEERING INFRASTRUCTURE


3,931,917 3,931,917
NIGER DELTA DEVELOPMENT COMMISSION


97,260,899 97,260,899
NIGERIAN NATIONAL PETROLEUM CORPORATION 3,804,949,166 [B]

3,804,949,166
NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION

780,231,463 [C] 1,732,350 781,963,813
Total3,804,949,166
648,734,398
780,231,463
102,925,1665,336,840,193











Project report (in USD)

Production entitlements
Taxes
Royalties
Bonuses Fees Infrastructure improvements Total
Projects








EAST ASSET 1,300,681,939 [D]

1,300,681,939
PSC 1993 (OML 133)
136,652,153 [E]
136,652,153
PSC 1993 (OPL 212/OML 118, OPL 219/OML 135) 649,948,707 [F] 303,125,852 [G] 452,170,096 [H] 32,015,797 1,437,260,452
WEST ASSET 1,854,318,520 [I]

1,854,318,520
Entity level payment









SHELL NIGERIA EXPLORATION AND PRODUCTION COMPANY LIMITED



440,468 440,468
THE SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED

208,956,393
328,061,367

70,468,901
607,486,661
Total3,804,949,166
648,734,398
780,231,463
102,925,1665,336,840,193

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $439,778,005 for 5,293 kboe valuated at market price.

[B] Includes payment in kind of $3,804,949,166 for 80,289 kboe valuated at market price.

[C] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.

[D] Includes payment in kind of $1,300,681,939 for 49,766 kboe valuated at market price.

[E] Includes payment in kind of $136,652,153 for 1,654 kboe valuated at market price.

[F] Includes payment in kind of $649,948,707 for 7,916 kboe valuated at market price.

[G] Includes payment in kind of $303,125,852 for 3,639 kboe valuated at market price.

[H] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.

[I] Includes payment in kind of $1,854,318,520 for 22,607 kboe valuated at market price.

Sao Tome and Principe


Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
AGÊNCIA NACIONAL DO PETRÓLEO DE SÃO TOMÉ E PRÍNCIPE 1,300,000 1,300,000
Total1,300,0001,300,000


Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





DW BLOCK 4 1,300,000 1,300,000
Total1,300,0001,300,000

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Tanzania


Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
PETROLEUM UPSTREAM REGULATORY AUTHORITY 140,000 140,000
Total140,000140,000


Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





BLOCK 1 AND 4 140,000 140,000
Total140,000140,000

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Tunisia


Government report (in USD) [1]

Production entitlements Taxes Royalties
Bonuses Fees Infrastructure improvements Total
Governments
ENTREPRISE TUNISIENNE D'ACTIVITÉS PÉTROLIÈRES 2,140,627 [A] 2,140,627
LE RECEVEUR DES FINANCES DU LAC 24,904,580 2,801,006
27,705,586
Total24,904,5804,941,633
29,846,213



Project report (in USD)

Production entitlements Taxes Royalties
Bonuses Fees Infrastructure improvements Total
Projects






HASDRUBAL CONCESSION 24,904,580 4,941,633 [A] 29,846,213
Total24,904,5804,941,633
29,846,213

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $2,140,627 for 37 kboe valuated at market price.

Canada

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
GOVERNMENT OF ALBERTA 656,638 119,099 775,737
MINISTRY OF FINANCE (BRITISH COLUMBIA) 2,915,313 625,526 3,540,839
MINISTRY OF JOBS, ECONOMIC DEVELOPMENT AND INNOVATION (BRITISH COLUMBIA) 679,158 679,158
PROVINCIAL TREASURER OF ALBERTA 60,864,405 60,864,405
RECEIVER GENERAL FOR CANADA 111,702,667 1,126,040 112,828,707
Total172,567,0724,697,9911,423,783178,688,846








Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





ATHABASCA OIL SANDS 172,567,072 172,567,072
FOOTHILLS 1,126,040 1,126,040
GREATER DEEP BASIN 656,638 119,099 775,737
GROUNDBIRCH 2,915,313 1,304,684 4,219,997
Total172,567,0724,697,9911,423,783178,688,846

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Mexico

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
FONDO MEXICANO DEL PETRÓLEO PARA LA ESTABILIZACIÓN Y EL DESARROLLO 17,154,483 17,154,483
SERVICIO DE ADMINISTRACIÓN TRIBUTARIA 4,372,519 4,372,519
Total21,527,00221,527,002

Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Entity level payment





MEXICO EXPLORATION DEEPWATER 21,527,002 21,527,002
Total21,527,00221,527,002

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

USA

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
ALASKA DEPARTMENT OF NATURAL RESOURCES 243,408 243,408
COMMONWEALTH OF PENNSYLVANIA -400,000 -400,000
INTERNAL REVENUE SERVICE 53,638,500 53,638,500
LOUISIANA DEPARTMENT OF TRANSPORTATION AND DEVELOPMENT 860,822 860,822
OFFICE OF NATURAL RESOURCES REVENUE 1,187,594,021 80,435,119 1,268,029,140
Total53,238,5001,187,594,02180,678,527860,8221,322,371,870

Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





ALASKA EXPLORATION 243,408 243,408
GULF OF AMERICA (CENTRAL) 1,076,187,269 282,312 1,076,469,581
GULF OF AMERICA (WEST) 111,406,752 126,720 111,533,472
GULF OF AMERICA EXPLORATION 80,026,087 80,026,087
Entity level payment





SHELL EXPLORATION AND PRODUCTION COMPANY -400,000 -400,000
SHELL OFFSHORE INC. 860,822 860,822
SHELL PETROLEUM INC. 53,638,500 53,638,500
Total53,238,5001,187,594,02180,678,527860,8221,322,371,870

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Argentina

Government report (in USD) [1]

Production entitlements
Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
AGENCIA DE RECAUDACIÓN Y CONTROL ADUANERO
1,984,309 1,984,309
GAS Y PETRÓLEO DEL NEUQUÉN S.A. 53,082,051 [A] 53,082,051
PROVINCIA DE SALTA
2,475,819 2,475,819
PROVINCIA DEL NEUQUÉN
141,493,849 123,276 141,617,125
Total53,082,051
1,984,309143,969,668123,276199,159,304









Project report (in USD)

Production entitlements
Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects






ACAMBUCO
2,475,819 2,475,819
ARGENTINA UNCONVENTIONAL PROJECTS 53,082,051 [A] 1,984,309 141,493,849 123,276 196,683,485
Total53,082,051
1,984,309143,969,668123,276199,159,304

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $53,082,051 for 785 kboe valuated at market price.

Brazil

Government report (in USD) [1]

Production entitlements
Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
AGÊNCIA NACIONAL DO PETRÓLEO GÁS NATURAL E BIOCOMBUSTÍVEIS
9,540,351 9,540,351
MINISTÉRIO DA FAZENDA
1,147,687,680 1,556,282,443 2,703,970,123
PRÉ-SAL PETRÓLEO S.A. 327,688,819 [A] 327,688,819
RECEITA FEDERAL DO BRASIL
656,740,954 656,740,954
Total327,688,819
656,740,9541,147,687,6809,540,3511,556,282,4433,697,940,247


Project report (in USD)

Production entitlements
Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects






BASIN EXPLORATION PROJECTS
9,540,351 3,244,993 12,785,344
BC-10
31,254,519 1,251,598 32,506,117
BIJUPIRA AND SALEMA
501,608 501,608
BM-S-9, BM-S-9A, BM-S-11, BM-S-11A AND ENTORNO DE SAPINHOÁ 29,716,011 [B] 882,483,636 1,551,284,244 2,463,483,891
LIBRA PSC 297,972,808 [C] 233,949,525 531,922,333
Entity level payment







SHELL BRASIL PETROLEO LTDA.
656,740,954 656,740,954
Total327,688,819
656,740,9541,147,687,6809,540,3511,556,282,4433,697,940,247

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

[A] Includes payment in kind of $327,688,819 for 4,585 kboe valuated at market price.

[B] Includes payment in kind of $29,716,011 for 410 kboe valuated at market price.

[C] Includes payment in kind of $297,972,808 for 4,175 kboe valuated at market price.

Colombia

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
AGENCIA NACIONAL DE HIDROCARBUROS 489,880 489,880
Total489,880489,880








Project report (in USD)
Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





COLOMBIA EXPLORATION (OPERATED) 489,880 489,880
Total489,880489,880

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Trinidad and Tobago

Government report (in USD) [1]

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Governments
MINISTRY OF FINANCE 561,771 561,771
MINISTRY OF ENERGY AND ENERGY INDUSTRIES 362,690,585 2,210,566 300,000 13,719,070 378,920,221
Total362,690,585561,7712,210,566300,00013,719,070379,481,992

Project report (in USD)

Production entitlements Taxes Royalties Bonuses Fees Infrastructure improvements Total
Projects





BLOCK 5C 84,428,910 1,714,071 86,142,981
CENTRAL BLOCK 561,771 2,210,566 900,921 3,673,258
COLIBRI 120,876,414 3,332,208 124,208,622
DEEPWATER ATLANTIC AREA 537,570 537,570
EAST COAST MARINE AREA 99,098,428 2,100,156 101,198,584
EXPLORATION 300,000 2,017,530 2,317,530
MANATEE 847,999 847,999
NORTH COAST MARINE AREA 1 58,286,833 2,268,615 60,555,448
Total362,690,585561,7712,210,566300,00013,719,070379,481,992

[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.

Cautionary note
The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this Report “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 Report 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.

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