SHELL PLC FOURTH QUARTER 2024 EURO AND GBP EQUIVALENT DIVIDEND PAYMENTS March 10, 2025 The Board of Shell plc today announced the pounds sterling and euro equivalent dividend payments in respect of the fourth quarter 2024 interim dividend, which was announced on January 30, 2025 at US$0.358 per ordinary share. Shareholders have been able to elect to receive their dividends in US dollars, euros or pounds sterling. Holders of ordinary shares who have validly submitted US dollars, euros or pounds sterling cur ...

Group 1: Company Performance - Shell's stock closed at $66.79, reflecting a +1.18% increase, outperforming the S&P 500's gain of 0.55% [1] - Over the past month, Shell's shares have decreased by 0.23%, which is better than the Oils-Energy sector's decline of 6.33% and the S&P 500's drop of 5.56% [1] Group 2: Upcoming Financial Results - Shell is expected to report an EPS of $1.98, indicating a 16.81% decline year-over-year [2] - Projected revenue for the upcoming quarter is $79.93 billion, representing a 7% increase from the previous year [2] Group 3: Annual Estimates - For the annual period, anticipated earnings are $7.94 per share, with revenue expected to reach $316.17 billion, reflecting increases of +5.59% and +9.39% respectively from last year [3] - Recent revisions to analyst forecasts for Shell are crucial as they indicate changing business trends, with positive revisions suggesting analyst optimism [3] Group 4: Valuation Metrics - Shell's Forward P/E ratio is currently 8.32, which is higher than the industry average of 7.52 [6] - The company has a PEG ratio of 0.92, compared to the industry average of 1.01, indicating a favorable growth expectation relative to its valuation [7] Group 5: Industry Context - The Oil and Gas - Integrated - International industry, which includes Shell, has a Zacks Industry Rank of 69, placing it in the top 28% of over 250 industries [8] - The Zacks Industry Rank measures the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [8]

Market Overview - The Saudi Arabia seafood market is projected to grow from US$ 0.98 billion in 2024 to US$ 1.23 billion by 2033, with a compound annual growth rate (CAGR) of 2.58% from 2025 to 2033 [1][17]. Growth Drivers - Increasing consumer health consciousness and demand for sustainable protein sources are driving the growth of the seafood market [2]. - Government initiatives aimed at diversifying the economy away from oil and promoting sustainable fishing practices are contributing to market expansion [2][5]. - Technological advancements in aquaculture are enhancing the sustainability and economic viability of local seafood production [2][8]. Government Initiatives - The Saudi government is investing in the aquaculture industry as part of its Vision 2030 project, aiming to increase aquaculture production to 600,000 tons by 2030 [7]. - Significant capital expenditures, subsidies, and incentives are being provided to promote local fish production and enhance food security [6]. Technological Innovations - Innovations in aquaculture, such as recirculating aquaculture systems (RAS) and automated feeding, are improving production yields and sustainability [8][9]. - Enhanced cold chain logistics and processing technologies are increasing the quality and freshness of seafood products [8]. Consumer Trends - Growing awareness of the nutritional benefits of seafood, including high protein and omega-3 fatty acids, is driving increased consumption [10][11]. - Health organizations are promoting seafood as a healthier dietary option, further boosting demand [12]. Export Potential - Saudi Arabia is focusing on expanding its seafood exports to meet both domestic and international demand [3][4]. - Investments in seafood processing and distribution infrastructure are essential for establishing a significant presence in the global fish market [3]. Challenges - Overfishing and sustainability concerns pose significant challenges to the seafood sector, with illegal fishing practices exacerbating the depletion of fish stocks [13]. - Despite efforts to increase domestic production, Saudi Arabia remains heavily reliant on seafood imports, which exposes the market to global price fluctuations and supply chain disruptions [14][16].

Core Insights - Natural Grocers has introduced Organic Mussels to its frozen seafood line, emphasizing convenience and quality for consumers [1][4] - The company prioritizes sustainability and traceability in its supply chain, ensuring high standards for its seafood products [2][4] Company Overview - Natural Grocers by Vitamin Cottage, Inc. was founded in 1955 and operates 169 stores across 21 states, focusing on natural and organic groceries, body care products, and dietary supplements [4] - The company adheres to strict quality guidelines, prohibiting artificial ingredients and ensuring all produce is USDA-certified organic [4] Product Attributes - The Organic Mussels are rope-grown in Chilean waters, certified organic, non-GMO, and sustainably harvested, with no artificial additives [6] - Each 16 oz packet of Organic Mussels is priced at $4.99 and is marketed as high in protein and low in fat [6] Recent Developments - Since its launch in 2016, the Natural Grocers Brand has expanded to over 800 products, with recent additions including Organic Coconut Water and new varieties of Natural Grocers Brand Chips [4] - The company is committed to community and crew, investing over $15 million in fiscal year 2024 for employee compensation and discretionary payments [4]

Core Viewpoint - The article highlights the upcoming 13th International Energy Storage Summit and Exhibition (ESIE 2025) scheduled for April 10-12, 2025, in Beijing, showcasing advancements in energy storage technologies and solutions, particularly focusing on Shell's innovative immersion cooling technology for energy storage systems [1][8]. Group 1: Event Details - The ESIE 2025 will take place at the Beijing New National Exhibition Center, featuring over 800 leading companies and more than 500 new product launches, with an expected attendance of over 200,000 professional visitors [8]. - The event will include over 40 thematic forums and will invite around 400 core policymakers, senior experts, and industry leaders to discuss new opportunities in energy storage development [8]. Group 2: Company Overview - Shell (China) Limited has over 130 years of history in China and is recognized as a leading global energy and chemical company, committed to responsible economic, environmental, and social practices [2]. - Shell has been the world's top-selling international lubricants brand for 18 consecutive years and has ventured into the immersion cooling sector since 2019, launching products specifically for the energy storage industry in 2020 [2]. Group 3: Product and Technology - Shell's immersion cooling liquid is a synthetic coolant made from natural gas using GTL technology, designed to enhance the performance of energy storage systems [3]. - The coolant is characterized by its stability, excellent performance, and compatibility with server components, being transparent, odorless, non-toxic, and safe for various applications [3]. Group 4: Product Advantages - The immersion cooling technology improves battery safety, maintains a temperature difference of less than 2 degrees Celsius, and extends battery cycle life due to reduced temperatures [4]. - The technology is designed to be low-noise, pollution-free, and highly integrated, significantly increasing utilization with a no-duct design [4]. Group 5: Recent Developments - In September 2024, Shell successfully passed the latest national standards for immersion storage batteries, with test results confirming safety performance under various conditions without fire or explosion [5]. - Shell has also launched the world's first megawatt-level immersion energy storage project using hydrocarbon-based cooling liquids, with over five energy storage stations currently utilizing Shell's cooling liquid [6].

Core Viewpoint - Shell plc projects a significant increase in global LNG demand, expecting it to rise by 60% by 2040, with Asia leading this growth [1][2]. LNG Demand Outlook - The demand for LNG is anticipated to reach between 630-718 million tons per year by 2040, reflecting an upward trend compared to previous estimates [2]. - LNG is expected to play a crucial role in meeting global energy needs for power generation, heating, cooling, industry, and transport due to its reliability and flexibility [2][3]. Factors Driving LNG Demand - Economic expansion in Asia, emission-reduction efforts in heavy industry and transportation, and the growing impact of artificial intelligence are key factors contributing to the increase in LNG demand [4]. - Countries like China and India are enhancing their gas infrastructure to meet rising energy needs while aiming to reduce carbon emissions [5]. Regional Developments - China is rapidly increasing its LNG import capacity and pipeline network, aiming to connect an additional 150 million people by 2030 [5]. - India plans to extend gas access to 30 million more consumers over the next five years [5]. - The marine sector is shifting towards LNG adoption, expecting annual demand to exceed 16 million tons by 2030, a 60% increase from previous forecasts [6]. Market Dynamics in 2024 - In 2024, LNG trade growth was limited to just 2 million tons, reaching 407 million tons, primarily due to restricted new supply development and geopolitical tensions [7]. - LNG prices dropped to their lowest levels since 2022 in the first half of 2024 but rebounded mid-year as supply could not keep pace with rising demand [8]. Future Projections - Europe is expected to increase LNG imports in 2025 to replenish gas storage levels [10]. - The United States is projected to boost LNG exports to 180 million tons per year by 2030, becoming the largest LNG exporter globally [10]. - Qatar is also expected to significantly expand its LNG supply in the future, although uncertainties remain regarding the timeline for new project start-ups [10].

Core Viewpoint - Adia Nutrition Inc. has successfully removed its shell risk designation from OTC Markets, marking a significant step towards uplisting from OTC Pink Sheets to OTCQB Venture Market, enhancing its operational integrity and investor visibility [1][2][4]. Company Overview - Adia Nutrition Inc. is focused on innovative nutritional products and regenerative medical treatments, with two main divisions: a supplement division offering premium organic supplements and a medical division specializing in advanced stem cell therapies [5]. Market Activity - The company has a market capitalization of approximately $6.71 million as of February 25, 2025, with authorized shares totaling 800 million and outstanding shares at 95.9 million [2]. - The float is reported to be 13.85 million shares, indicating a relatively low number of shares available for trading [2]. Uplisting Progress - The removal of the shell risk designation is a critical requirement for achieving OTCQB status, which is expected to provide greater transparency, liquidity, and investor trust [2][4]. - The company has been actively working with OTC Markets to meet uplisting criteria, including undergoing a comprehensive third-party audit [2]. Leadership Statement - The CEO of Adia Nutrition expressed confidence in the company's future and the potential for sharing exciting updates with investors following the removal of the shell risk designation [3].

Group 1: Industry Consolidation Trends - The oil and energy industry is experiencing significant consolidation as major companies aim to enhance their market positions amid evolving dynamics [1][3] - A potential merger between Shell plc and BP plc could create a combined entity valued at approximately $300 billion, positioning it to compete with U.S. giants like ExxonMobil and Chevron [3][4] - The trend of consolidation is driven by the need for operational efficiencies, financial resilience, and competitive advantages against U.S. oil majors [3][7] Group 2: Recent Mergers and Acquisitions - ExxonMobil's acquisition of Pioneer Natural Resources for $59.5 billion and Chevron's $53 billion deal for Hess Corporation are examples of transformative mergers aimed at securing high-quality reserves and enhancing operational efficiency [5][6] - The merger between Subsea7 and Saipem, creating a $4.63 billion offshore energy services leader, reflects the broader consolidation trend in the energy sector [10][11] Group 3: Challenges and Considerations - Antitrust regulations pose significant challenges to potential mergers, with concerns about reduced competition being a primary issue [4] - Shell's leadership has indicated a preference for organic growth over large acquisitions, complicating the feasibility of a Shell-BP merger [4][6] - European energy companies face additional pressures from stricter climate policies and lower valuations, impacting their competitive stance against U.S. firms [6][8] Group 4: Future Outlook - The ongoing energy transition necessitates that oil majors achieve financial scale to support both traditional fossil fuel operations and renewable energy investments [7] - Geopolitical factors and supply-chain considerations are critical in driving consolidation, as companies seek to strengthen their influence in key energy-producing regions [8] - The energy landscape is shifting, and further mergers and acquisitions are anticipated as companies strive to balance short-term profitability with long-term sustainability [12]

Market Overview - The global Shell & Tube Heat Exchangers Market is projected to grow at an annual rate of 4.3% from 2024 to 2030, reaching a size of US$ 5.0 billion by 2030 [1][3]. Report Insights - Stratview Research has launched a comprehensive report on the Shell & Tube Heat Exchangers Market, covering global and regional forecasts, current and emerging trends, segment analysis, and competitive landscape [2][3]. Segment Analysis - The market is segmented by end-use industry type, including oil & gas, petrochemical & chemical, food & beverage, power generation, HVAC & refrigeration, water & wastewater, pharmaceuticals, marine & shipbuilding, and others. Power generation and petrochemical & chemical are expected to be the dominant end-use industries during the forecast period [4][5]. Market Drivers - Key drivers for the Shell & Tube Heat Exchangers Market include growing investments and expansions in various industries such as oil & gas, petrochemical, power generation, and HVAC, along with increased adoption of heat exchangers for safety reasons [9]. Regional Insights - Asia-Pacific is anticipated to remain the largest market for shell & tube heat exchangers during the forecast period, driven by post-pandemic developments, with China being a major producer of oil, gas, and petrochemicals [7]. Competitive Landscape - The market features a large number of local, regional, and global players, with competition based on price, product offerings, and regional presence. Key companies identified include Alfa Laval AB, Johnson Controls International PLC, Kelvion Holdings GmbH, SPX Corporation, Funke Warmeaustauscher Apparatebau GmbH, and Xylem Inc. [10][13].

Core Viewpoint - Shell is facing legal allegations regarding its responsibility for oil pollution in Nigeria, which has severely impacted local communities by contaminating water sources and damaging agriculture and fishing activities [1][2]. Group 1: Legal Proceedings - The initial trial in the High Court in London will determine if Shell can be held liable for pollution resulting from theft and illegal activities, with a full trial scheduled for next year [3]. - The case could set a precedent as it will assess whether oil pollution by a private company constitutes a violation of fundamental human rights under Nigerian law and the African Charter on Human and People's Rights [5]. Group 2: Community Impact - Residents of Ogale and Bille have been advocating for a clean-up and compensation since 2015, claiming that pollution has deprived them of clean water and the ability to farm and fish [6]. - Community leader Chief Bennett Okpoki expressed satisfaction that Shell is finally facing trial after a long struggle [6]. Group 3: Shell's Position - Shell asserts that the majority of pollution is due to criminal activities such as pipeline sabotage and oil theft, and it claims to clean up all spills regardless of their cause [2][10]. - The company emphasizes its commitment to Nigeria, highlighting its contributions to local economies, job creation, and investments in education and healthcare [8].