Shell — Upstream & Integrated Gas Portfolio

Shell's consolidated oil and gas business across the Upstream and Integrated Gas segments, spanning more than 70 countries. Reserves combine Shell subsidiaries and Shell's share of joint ventures and associates, with natural gas converted to oil equivalent at 5,800 scf per barrel. Total proved reserves were 8,123 million boe at December 31, 2025 (2024: 9,620), the decrease driven largely by the SPDC divestment in Nigeria and the Canadian oil-sands synthetic crude swap. 2025 production available for sale was 2,800 thousand boe/d.