Shell PLC

Environmental & Social Information • May 15, 2025

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

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 cashcall, 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)
	Production					Infrastructure
Countries	entitlements	Taxes	Royalties	Bonuses	Fees	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
Total	11,387,783,976	10,456,840,201	4,322,795,167	12,976,786	1,913,987,033	1,127,250	28,095,510,413

[1] The figures in this Report are rounded.

Germany

	Production		Government report (in USD) [1] Infrastructure
	entitlements	Taxes	Royalties Bonuses Fees			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
Total	–	243,935,441	–	–	–	–	243,935,441

		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
Total	–	243,935,441	– –	–	–	243,935,441

[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					Infrastructure
	entitlements	Taxes	Royalties	Bonuses	Fees	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
Total	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631

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

ITALY UPSTREAM
ASSET	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631
Total	–	4,128,063	74,213,782	–	80,220,786	–	158,562,631

Norway

Total	2,083,221,642	1,300,962,023	–	–	122,391	–	3,384,306,056
SOKKELDIREKTORATET	–	–	–	–	122,391	–	122,391
SKATTEETATEN	–	1,300,962,023	–	–	–	–	1,300,962,023
PETORO AS	1,229,275,364 [B]	–	–	–	–	–	1,229,275,364
EQUINOR ASA	853,946,278 [A]	–	–	–	–	–	853,946,278
Governments
	entitlements	Taxes	Royalties Bonuses		Fees	improvements	Total
	Production					Infrastructure
	Government report (in USD) [1]

	Project report (in USD)
	Production entitlements	Taxes Royalties Bonuses		Infrastructure Fees 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
Total	2,083,221,642	1,300,962,023	–	–	122,391	–	3,384,306,056

[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

Total	–	16,649,747	–	–	11,483,529	–	5,166,218
		-					-
ESTATE SCOTLAND	–	–	–	–	128,319	–	128,319
THE CROWN
NORTH SEA TRANSITION AUTHORITY	–	–	–	–	11,355,210	–	11,355,210
HM REVENUE AND CUSTOMS	–	- 16,649,747	–	–	–	–	- 16,649,747
Governments
	Production entitlements	Taxes	Royalties Bonuses		Fees	Infrastructure improvements	Total
			Government report (in USD) [1]

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

Total	–	16,649,747	–	–	11,483,529	–	5,166,218
SHELL U.K. LIMITED	–	15,464,073 -	–	–	3,374,055	–	18,838,128 -
Entity level payment
WEST OF SHETLAND NON OPERATED	–	–	–	–	1,076,456	–	1,076,456
UK OFFSHORE OPERATED	–	–	–	–	2,119,313	–	2,119,313
EXPLORATION PROJECTS	–	–	–	–	1,117,783	–	1,117,783

Brunei

			Government report (in USD) [1]
	Production
	entitlements	Taxes	Royalties	Bonuses Fees		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
Total	3,983,642	44,229,620	8,660,091	–	–	–	56,873,353

				Project report (in USD)
	Production					Infrastructure
	entitlements	Taxes	Royalties	Bonuses Fees		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
Total	3,983,642	44,229,620	8,660,091	–	–	–	56,873,353

[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
Total	–	10,343,616	– –	– –	10,343,616

			Project report (in USD)
	Production		Infrastructure
	entitlements	Taxes	Royalties Bonuses Fees improvements	Total
Entity level
payment
SHELL CHINA
EXPLORATION
AND
PRODUCTION

COMPANY
LIMITED	–	10,343,616	–	–	–	–	10,343,616
Total	–	10,343,616	–	–	–	–	10,343,616

India

				Government report (in USD) [1]
	Production				Infrastructure
	entitlements		Taxes Royalties Bonuses Fees		improvements	Total
Governments
INCOME TAX		-				-
DEPARTMENT	–	17,715,638	–	– –	–	17,715,638
		-				-
Total	–	17,715,638	–	– –	–	17,715,638

	Production entitlements		Taxes Royalties Bonuses Fees			Infrastructure improvements	Project report (in USD) 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] Infrastructure
	Production
	entitlements	Taxes	Royalties Bonuses Fees		improvements		Total
Governments
WEST KAZAKHSTAN
TAX COMMITTEE	–	242,741,780	–	–	–	–	242,741,780
Total	–	242,741,780	–	–	–	–	242,741,780

					Project report (in USD)
	Production				Infrastructure
	entitlements	Taxes	Royalties Bonuses Fees		improvements	Total
Projects
KARACHAGANAK	–	242,741,780	– –	–	–	242,741,780
Total	–	242,741,780	– –	–	–	242,741,780

[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 PETROLEUM SARAWAK	–	–	469,060,363 [B]	–	–	–	469,060,363

Total	2,317,002,807	305,924,901	500,008,822	–	–	–	3,122,936,530
BHD.	951,218,473 [E]	–	–	–	–	–	951,218,473
PETRONAS CARIGALI SDN.
PETROLIAM NASIONAL BERHAD	990,078,563 [D]	–	30,948,459	–	–	–	1,021,027,022
EXPLORATION AND PRODUCTION SDN. BHD.	74,656,856 [C]	–	–	–	–	–	74,656,856

		Project report (in USD)
	Production	Infrastructure
	entitlements	Taxes	Royalties	Bonuses Fees		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							1,191,394,389
AND GAS	881,807,982 [H]	116,047,586	193,538,821 [I]	–	–	–
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
Total	2,317,002,807	305,924,901	500,008,822	–	–	–	3,122,936,530

[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

Total	633,711,368	3,954,062,451	–	–	900,000	–	4,588,673,819
MINISTRY OF FINANCE	–	3,954,062,451	–	–	900,000	–	3,954,962,451
MINISTRY OF ENERGY AND MINERALS	633,711,368 [A]	–	–	–	–	–	633,711,368

	Production entitlements	Project report (in USD) Infrastructure Royalties Bonuses Fees Taxes 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
Total	633,711,368	3,954,062,451	–	–	900,000	–	4,588,673,819

[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	Infrastructure Fees Royalties Bonuses improvements
Governments
QATARENERGY	1,801,453,896	1,507,244,066	– –	30,538,723	–	3,339,236,685
Total	1,801,453,896	1,507,244,066	– –	30,538,723	–	3,339,236,685

		Project report (in USD)
	Production		Infrastructure
	entitlements	Taxes	Royalties Bonuses	Fees	improvements	Total
Projects
PEARL GTL	1,801,453,896	1,507,244,066	– –	30,538,723	–	3,339,236,685
Total	1,801,453,896	1,507,244,066	– –	30,538,723	–	3,339,236,685

[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 QUEENSLAND	–	–	–	–	935,554	–	935,554
DEPARTMENT

Total	–	1,277,737,693	468,579,450	–	13,412,457	266,428	1,759,996,028
PTY LTD	–	694,167,153	–	–	–	–	694,167,153
AUSTRALIA
SHELL
payment
Entity level
QGC	–	583,570,540	356,590,166	–	13,412,457	266,428	953,839,591
NORTH WEST SHELF	–	–	111,989,284	–	–	–	111,989,284
Projects
	entitlements	Taxes	Royalties	Bonuses	Fees	improvements	Total
	Production					Infrastructure
					Project report (in USD)
Total	–	1,277,737,693	468,579,450	–	13,412,457	266,428	1,759,996,028
COUNCIL	–	–	–	–	10,317,519	266,428	10,583,947
DOWNS REGIONAL
WESTERN
QUEENSLAND	–	–	–	–	1,359,992	–	1,359,992
HEALTH
RESOURCES SAFETY AND
AND MINES	–	–	–	–	581,472	–	581,472
RESOURCES
OF NATURAL

Egypt

		Government report (in USD) [1]
	Production					Infrastructure
	entitlements	Taxes		Royalties Bonuses	Fees	improvements	Total
Governments
EGYPTIAN
GENERAL
PETROLEUM
CORPORATION	–	41,164,348	–	1,836,435	–	–	43,000,783
Total	–	41,164,348	–	1,836,435	–	–	43,000,783

	Production entitlements	Taxes		Royalties Bonuses	Project report (in USD) Infrastructure Fees 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
Total	–	41,164,348	–	1,836,435	– –	43,000,783

[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
Total	3,804,949,166	648,734,398	780,231,463	–	102,925,166	–	5,336,840,193
			Project report (in USD)
	Production					Infrastructure
	entitlements	Taxes	Royalties	Bonuses	Fees	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
Total	3,804,949,166	648,734,398	780,231,463	–	102,925,166	–	5,336,840,193

[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				Infrastructure Fees improvements	Total
Governments
AGÊNCIA NACIONAL DO PETRÓLEO DE SÃO TOMÉ E PRÍNCIPE	–	–	–	1,300,000	–	–	1,300,000
Total	–	–	–	1,300,000	–	–	1,300,000

	Production entitlements Taxes Royalties Bonuses				Infrastructure Fees improvements Total
Projects
DW BLOCK 4	–	–	–	1,300,000	–	–	1,300,000
Total	–	–	–	1,300,000	–	–	1,300,000

Tanzania

	Government report (in USD) [1]
	Production					Infrastructure
	entitlements Taxes Royalties Bonuses				Fees	improvements	Total
Governments
PETROLEUM UPSTREAM REGULATORY
AUTHORITY	–	–	–	–	140,000	–	140,000
Total	–	–	–	–	140,000	–	140,000

	Project report (in USD)
	Production						Infrastructure
	entitlements Taxes Royalties Bonuses				Fees		improvements	Total
Projects
BLOCK 1 AND 4	–	–	–	–	140,000		–	140,000
Total	–	–	–	–	140,000		–	140,000

[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	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
Total	–	24,904,580	4,941,633	–	–	–	29,846,213

Total	–	24,904,580	4,941,633	–	–	–	29,846,213
HASDRUBAL CONCESSION	–	24,904,580	4,941,633 [A]	–	–	–	29,846,213
Projects
	entitlements	Taxes Royalties		Bonuses Fees improvements			Total
	Production
		Project report (in USD)

[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

Total	–	172,567,072	4,697,991	–	1,423,783	–	178,688,846
RECEIVER GENERAL FOR CANADA	–	111,702,667	1,126,040	–	–	–	112,828,707
PROVINCIAL TREASURER OF ALBERTA	–	60,864,405	–	–	–	–	60,864,405
MINISTRY OF JOBS, ECONOMIC DEVELOPMENT AND INNOVATION (BRITISH COLUMBIA)	–	–	–	–	679,158	–	679,158
MINISTRY OF FINANCE (BRITISH COLUMBIA)	–	–	2,915,313	–	625,526	–	3,540,839
GOVERNMENT OF ALBERTA	–	–	656,638	–	119,099	–	775,737

	Production				Project report (in USD)
	entitlements	Taxes	Royalties	Bonuses	Fees	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
Total	–	172,567,072	4,697,991	–	1,423,783	–	178,688,846

Mexico

					Government report (in USD) [1]
	Production
	entitlements Taxes Royalties Bonuses				Fees	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
Total	–	–	–	–	21,527,002	–	21,527,002

						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
Total	–	–	–	–	21,527,002	–	21,527,002

[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

Total	–	53,238,500	1,187,594,021	–	80,678,527	860,822	1,322,371,870
REVENUE	–	–	1,187,594,021	–	80,435,119	–	1,268,029,140
RESOURCES
NATURAL
OFFICE OF
DEVELOPMENT	–	–	–	–	–	860,822	860,822
AND
TRANSPORTATION
DEPARTMENT OF
LOUISIANA
SERVICE	–	53,638,500	–	–	–	–	53,638,500
INTERNAL REVENUE
PENNSYLVANIA	–	400,000	–	–	–	–	400,000
COMMONWEALTH OF		-					-
RESOURCES	–	–	–	–	243,408	–	243,408
NATURAL

	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
Total	–	53,238,500	1,187,594,021	–	80,678,527	860,822	1,322,371,870

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
Total	53,082,051	1,984,309	143,969,668	–	123,276	–	199,159,304

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

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
Total	53,082,051	1,984,309	143,969,668	–	123,276	–	199,159,304

[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
Total	327,688,819	656,740,954	1,147,687,680	9,540,351	1,556,282,443	–	3,697,940,247

	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
Total	327,688,819	656,740,954	1,147,687,680	9,540,351	1,556,282,443	–	3,697,940,247

[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

	Production					Government report (in USD) [1] Infrastructure
	entitlements Taxes Royalties Bonuses				Fees	improvements	Total
Governments
AGENCIA NACIONAL DE HIDROCARBUROS	–	–	–	–	489,880	–	489,880
Total	–	–	–	–	489,880	–	489,880

	Production					Project report (in USD) Infrastructure
	entitlements Taxes Royalties Bonuses				Fees	improvements	Total
Projects
COLOMBIA EXPLORATION
(OPERATED)	–	–	–	–	489,880	–	489,880
Total	–	–	–	–	489,880	–	489,880

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							378,920,221
INDUSTRIES	362,690,585	–	2,210,566	300,000	13,719,070	–
Total	362,690,585	561,771	2,210,566	300,000	13,719,070	–	379,481,992

		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
Total	362,690,585	561,771	2,210,566	300,000	13,719,070	–	379,481,992

[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.