In the season finale of The Energy Podcast, Shell’s CEO Wael Sawan reflects on a year of significant change globally. He discusses navigating through uncertainty, accelerating the energy transition, and embracing AI. He also shares how Shell is transforming into a fitter, more competitive company – one better equipped to navigate whatever lies ahead. Tune in for insights into the energy system, the outlook for liquefied natural gas (LNG), and leadership through times of change. Learn more about The Energy Podcast The Energy Podcast is a Starstruck Media production for Shell. Episode references References to $20-22 billion of capital or investment per year refer to Shell's cash capital expenditure of $20-22 billion per year between 2025-2028. References to distributions of 40-50% of our cash flow from operations (CFFO) refers to Shell's shareholder distributions target of 40-50% of CFFO through the cycle. For more on the reference to $20 billion of capital Shell has employed in power as well as lower-carbon businesses, see Shell's Capital Markets Day 2025 presentation: Delivering more value, with less emissions For more information on Shell’s energy transition targets and ambition, visit Climate | Shell Global In 2024, 78.2% of Shell's global investments included oil & gas, 11.37% included low-carbon energy solutions and 10.43% non-energy products. Shell's target is to become a net-zero emissions (NZE) business by 2050. Cautionary note, including NZE target: Cautionary note | Shell GlobalSee omnystudio.com/listener for privacy information.

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