Cutting carbon from industry

─ How the cement, steel and chemicals industries are reducing their CO₂ emissions ─ View in browser [Shell] [shell] [View in browser]( [Cutting carbon from industry] [Cutting carbon from industry] November 2022 Dear {NAME}, At the COP27 Climate Change Conference in Egypt, one critical topic under discussion by world leaders is how some of the most carbon-intensive industries can reduce their CO2 emissions and help limit global warming to 1.5°C above pre-industrial levels. In a series of videos and podcasts, experts brought together by Shell explore lower-carbon ways to produce the cement, steel and chemicals on which the modern world relies, and discuss the challenges and opportunities involved in turning these ambitions into actions. [Find out more >]( [Ben van Beurden prepares to hand over the CEO reins] [Ben van Beurden prepares to hand over the CEO reins] Ben van Beurden prepares to hand over the CEO reins Wael Sawan will take over as Chief Executive Officer on January 1. Ben van Beurden will continue working as adviser to the Board until June 2023. [Find out more >]( [World’s first hydrogen-powered water taxi] [World’s first hydrogen-powered water taxi] World’s first hydrogen-powered water taxi Shell is sponsoring an innovative hydrogen water taxi project in Rotterdam, due to launch at the beginning of 2023. [Watch the video >]( [Composite image of podcast speakers] [Composite image of podcast speakers] Podcast: How Blockchain is changing energy From sustainable aviation fuel to balancing power grids, blockchain is changing the relationship between how energy is produced and consumed. [Play the podcast >]( In other news: ● In Brazil, Shell has announced it will [buy 3.25 billion litres of low-carbon ethanol]( made from sugar-cane waste, from Raízen, to help meet growing demand for sustainable fuel. ● Shell has [invested in the Rosmari-Marjoram gas project]( in Malaysia, which is solar-powered. ● Installation of more than 10,000 Shell Recharge charging points is [planned across India by 2030](. ● Shell [delivered robust financial results]( in Q3 and announces intent to raise dividend. To find out more about [Powering Progress]( and all our stories, please visit [shell.com]( and follow Shell on social media. [Twitter]( [linkedin]( [Instagram]( [Facebook]( [Youtube]( [Shell] Thanks for reading. This email was sent to you by Shell. To ensure delivery to your inbox (not junk folders), please add our email address poweringprogress@email.shell.com to your address book. [View our Privacy policy here]( [Unsubscribe from these emails]( [Share your feedback with us]( Copyright © Shell U.K. Limited: Shell Centre London SE1 7NA - All rights reserved This newsletter was published on November 15, 2022. Image of hydrogen water taxi courtesy of Coco van Egeraat. Cautionary Note The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this newsletter “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this newsletter refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest. Forward-Looking Statements This newsletter contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this newsletter, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this newsletter are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2021 (available at [www.shell.com/investor]( and [www.sec.gov](. These risk factors also expressly qualify all forward-looking statements contained in this newsletter and should be considered by the reader. Each forward-looking statement speaks only as of the date of this newsletter, November 15th 2022. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this newsletter. Shell’s net carbon footprint Also, in this newsletter we may refer to Shell’s “Net Carbon Footprint” or “Net Carbon Intensity”, which include Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell’s “Net Carbon Footprint” or “Net Carbon Intensity” are for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries. Shell’s net-Zero Emissions Target Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Footprint (NCF) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCF target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target. Forward Looking Non-GAAP measures This newsletter may contain certain forward-looking non-GAAP measures such as cash capital expenditure and divestments. We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements. The contents of websites referred to in this newsletter do not form part of this newsletter. We may have used certain terms, such as resources, in this newsletter that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website [www.sec.gov](.