Sharjah − Under the patronage of the Ministry of Energy and Infrastructure, Shell UAE held the Shell Startup Engine Demo Day at Sharjah Research, Technology, and Innovation Park today, giving a platform for eight ambitious startups to pitch their innovative sustainable energy solutions to an audience of government officials and private sector investors and partners.

In partnership with StartupBootcamp, Shell Startup Engine is the local chapter of the group’s global flagship programme, designed to support early to mid-stage energy startups looking to play a role in tomorrow’s smarter, cleaner energy future.

During the event, H.E. Eng. Sharif Al Olama, Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs, said: “The UAE continues to take ambitious steps to build a low-carbon future through innovative and tech-enabled solutions that serve the energy sector and help achieve the objectives of its Net Zero by 2050 Strategic Initiative.”

He added: "In line with the directives of our wise leadership, we seek to engage all sectors in the fight against climate change. The private sector plays an active role in our decarbonization drive by reducing emissions from their operations and services.”

Mr. Ali Al Janabi, Chairman for Shell Group of Companies in the UAE and Iraq said “At Shell, while we continue to pursue the development of sustainable energy and mobility solutions, we recognise that accelerating the transition to a net zero emissions world requires more work and we need to create opportunities for innovation and advancement for society at large. The startup ecosystem in the UAE has enabled entrepreneurs for years, and we had the privilege to bring together a talented cohort to be part of our flagship programme for the first time in the region with StartupBootcamp.”

Mr. Hussain Al Mahmoud, CEO of SRTIP, said: “We are proud to associate ourselves with Shell in this ambitious programme designed to allow innovation-driven startups to pitch their sustainable energy solutions to a select group. This is part of our several initiatives to support the energy sector through accelerators and cooperation programs, in line with the UAE government’s plan to switch to clean and renewable energy. Our global accelerators program (Sharjah Advanced Industry Accelerator (SAIA)) has attracted many startups from around the world, positioning us as a testing destination for advanced technologies, through research and development and talent development. We pride ourselves as an innovation hub focused on driving the development of solutions to the challenges facing today’s world, by energising partnerships between the public and private sectors, in addition to generating demand, creating job opportunities, and attracting investment to the region.”

Utilising mentors and coaches from within the company and beyond, including experts from around the world, Shell is committed to empowering startups through the programme, allowing them to gain insights into the energy sector and build the expertise they need. The participants will have the opportunity to connect to a wider community, strongly positioning their startups for success.

Winners from the Demo Day will have access to over €500,000 in exclusive partner deals from technology providers and continued post-programme support through exclusive access to content, industry platforms and events.

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Cautionary note

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement, “Shell”, “Shell Group” and “Group” are sometimes used for convenience 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 announcement 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 announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions 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 announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (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 forwardlooking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements.

Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2021 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forwardlooking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, 7 February 2023. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

Shell’s net carbon footprint

Also, in this announcement 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.

We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.