IN POLE POSITION TO BENEFIT FROM ECONOMIC RECOVERY
▪ Sector-leading cash generation over the last 4 years. Strong operational and financial performance across the segments
highlights the benefits of our integrated business model. Resilient Integrated Gas and Marketing, robust Upstream and
outstanding Chemicals results.
▪ Net debt reduction of over $4 billion to $71.3 billion, progressing towards $65 billion. Once this milestone is achieved, we
target to increase shareholder distributions to 20-30% of our cash flow from operations.
▪ Delivering on our commitment to further improve transparency and understanding of our businesses - introducing new and
enhanced disclosures. First energy company to submit its Energy Transition Strategy to shareholders for an advisory vote at the Annual General Meeting
And later;
▪ Higher prices, higher demand and lower depreciation drove higher Adjusted Earnings.
▪ Adjusted Earnings reflected favourable comparative deferred tax movements which were partly offset by around $200 million
comparative adverse currency effects.
▪ Strong cash conversion with CFFO excluding working capital of $4.7 billion, $1.8 billion above Q4 2020.
▪ Production 4% above Q4 2020, driven by demand seasonality.
▪ Q2 2021 total production outlook is expected to be impacted by lower seasonal gas demand and divestments
https://www.shell.com/investors/results ... elease.pdf
Issued separately;
ROYAL DUTCH SHELL PLC FIRST QUARTER 2021 INTERIM DIVIDEND
https://www.investegate.co.uk/royal-dut ... 0200H1463/