Shell plc Chief Executive Officer, Ben van Beurden
"We are delivering robust results at a time of ongoing volatility in global energy markets. We continue to strengthen Shell's
portfolio through disciplined investment and transform the company for a low-carbon future. At the same time we are working
closely with governments and customers to address their short and long-term energy needs.
Today we are announcing a new share buyback programme resulting in an additional $4 billion of distributions, which we
expect to complete by our Q4 2022 results announcement. Furthermore, we plan to increase the dividend per share (DPS) for
the fourth quarter, which will be paid in March 2023, by an expected 15%, subject to Board approval."
ROBUST RESULTS FROM A RESILIENT PORTFOLIO
• Robust performance in a turbulent economic environment with lower crude prices and higher gas prices compared with Q2
2022. Adjusted Earnings of $9.5 billion in Q3 2022, with Adjusted EBITDA of $21.5 billion.
• Strengthening and simplifying the portfolio through the energy transition with completion of the Sprng Energy (India)
acquisition, participation in the North Field South LNG expansion (Qatar) in October, the Rosmari-Marjoram field FID
(Malaysia), the announced Aera Energy divestment (California, USA) and the acquisition of Shell Midstream Partners (USA).
• Disciplined cash capex: expected to be in the $23 - 27 billion range in 2022, evenly split between our Growth, Transition and
Upstream pillars.
• $4 billion share buybacks announced, expected to be completed by Q4 2022 results announcement; total distributions in
excess of 30% of CFFO for the last four quarters. Subject to Board approval, intention to increase DPS by an expected 15%
for the fourth quarter, which will be paid in March 2023. Announced 2022 shareholder distributions ~$26 billion.
• Wael Sawan to succeed Ben van Beurden as Chief Executive Officer, effective January 1, 2023.
$ million Adj. Earnings1 Adj. EBITDA CFFO Cash capex
Integrated Gas 2,319 5,393 6,664 956
Upstream 5,896 12,539 8,343 1,733
Marketing 820 1,505 2,299 746
Mobility 645 1,150 501
Lubricants 103 230 55
Sectors & Decarbonisation 72 125 190
Chemicals & Products 772 1,797 3,385 828
Chemicals (555) (426) 527
Products 1,327 2,223 301
Renewables & Energy Solutions 383 530 (8,051) 1,086
Corporate (571) (251) (100) 78
Less: Non-controlling interest 165
Shell
Q3 2022 9,454 21,512 12,539 5,426
Q2 2022 11,472 23,150 18,655 7,024
1
Income/(loss) attributable to shareholders for Q3 2022 is $6.7 billion. Reconciliation of non-GAAP measures can be found in the unaudited results, available on www.shell.com/investors.

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https://www.shell.com/investors/results-and-reporting/quarterly-results/2022/q3-2022/_jcr_content/par/toptasks_1119141760_.stream/1666826524930/1df7a49433e82491545b38572c8b803583cca3ce/q3-2022-quarterly-press-release.pdf

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