It was announced today that  Shell plc (“Shell“) will pay the sterling equivalent and euro equivalent of its first quarter interim dividend announced on May 5, 2022 at US$0.25 per ordinary share.

Dividends were available in US dollars, euros, and pounds sterling for shareholders. Dividends will be paid to ordinary shareholders who have validly elected to receive US dollars, euros, or pounds sterling by June 7, 2022.

In the absence of a valid election to the contrary, holders of ordinary shares through Euroclear Nederland will receive their dividends in euros at the euro rate per ordinary share shown above. It is assumed that shareholders (both certificated and non-certificated) who hold their shares through the Shell Corporate Nominee will receive their dividends in pounds sterling at the pound sterling rate per ordinary share shown above, unless they elect otherwise.

A market exchange rate average over three dealing days from June 8 to June 10, 2022, has been used for converting euro and pounds sterling dividends payable in cash from US dollars.

Dividends will be paid on June 27, 2022 to members whose names appear on the Register of Members on May 20, 2022.

Shell’s tax domicile has been shifted to the United Kingdom, therefore dividends paid to ordinary shareholders will not be subject to Dutch dividend withholding tax. As a result, holders of former A shares will get their dividends in full, as Dutch dividend withholding tax will no longer be deducted. Former B shareholders will receive their dividends directly from Shell, as the Dividend Access Mechanism will no longer be used to pay these payments.