Shell (SHEL) AGM 2026 summary

Opening remarks and agenda

• Meeting formally opened with confirmation of quorum and poll voting procedures explained.

• Security measures heightened due to intelligence on potential threats at shareholder meetings.

• Hybrid format enabled global participation and virtual Q&A.

• Agenda included board introductions, voting, business review, and extensive Q&A.

Board and executive committee updates

• Two directors, Neil Carson and Catherine Hughes, to stand down; new appointments of Holly Keller-Koppel and Clare Scherrer proposed.

• Non-executive directors and committee chairs introduced, with some attending virtually.

• Board emphasized ongoing engagement with shareholders and staff, including site visits and virtual meetings.

Financial performance review

• Achieved $5.1 billion in structural cost reductions by end of 2025, ahead of 2028 target.

• Distributed 52% of 2025 operational cash flow to shareholders via dividends and buybacks.

• 18 consecutive quarters of $3 billion+ share buybacks; value per share continues to grow.

• LNG sales up 11% in 2025; mobility and lubricants businesses delivered record results.