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Why does Shell want to make this change now?

Why does Shell want to make this change now?

The Simplification will allow Shell to undertake more share buybacks in a particular period from the single pool of shares.

The Board believes now is the right time to make this change. While Shell has operated successfully to date, the scale and speed of change presented by the energy transition are unprecedented.

In February this year Shell published the Powering Progress strategy to transition the business to net-zero emissions.  In August, Shell launched a new organisational structure to deliver this clear strategy. The next logical step is to simplify the share structure.

Adopting a simpler share structure brings Shell in line with its competitors and most other large global companies.

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