Philippine Teams Show Resilience in Shell Eco-marathon Asia-Pacific and the Middle East 2023

Shell Eco-marathon aims to inspire the Changemakers of Tomorrow to develop innovative solutions for a sustainable future by challenging them to design, build, and test energy-efficient vehicles.

“We believe that with determination and hard work, the students can accomplish incredible things for their countries. The competition allows them to focus their efforts and creativity in advancing technology in the field of energy-efficient vehicles which is essential for a cleaner energy future,” Sean Winnet, Vice President of Shell Asia-Pacific Corporate Relations said.

Since the start of the event last July 4, the teams spend time working on their vehicles in time for the actual start of competition.

Despite the challenges, both teams are optimistic that they can finish this season successfully. “We feel so excited. It seems like this will be another chance for us to bounce back from what happened last year. Although we won an off-track award last year, this time we want to make sure that our best will turn into something more rewarding,” Edward Brian Custodio, Team Driver of PUP Hygears said.

“We want to achieve the expectations of the people who supported us from the very beginning. First, we want to pass the technical inspection, have a valid run, and get good results from that valid run,” Emelito Jr. Montano, Team Reserve Driver for UPHSD’s ALTAS Valor.

During the official opening program held last July 5, Indonesian officials expressed their support and gratitude for the event.

Before going through the racetrack, all teams for the competition need to pass the Technical Inspection stage. PUP Hygears’ vehicle Luna IV is competing under the Urban Concept Battery Electric category. On the other hand, UPHSD ALTAS Valor’s vehicle Avalon is under the Prototype Internal Combustion Engine category. As of writing, the teams are undergoing Technical Inspections, which will continue until July 7, at noon.

The Philippine teams are still in high spirits and are maximizing all the help and support they can get from their mentors, SEM alumni, and fellow competitors.

The awarding ceremony for the Asia-Pacific and Middle East leg will be on July 9. Winners from the region will compete in the World Championship of Shell Eco-marathon in Bangalore, India in October.

Future of mobility

Energy demand is increasing globally, driven by a growing population with its increasing standard of living. At the sidelines of the Shell Eco-marathon Asia-Pacific and the Middle East 2023 competition, Shell hosted a panel session titled "Future of Mobility with Zero Emission” discussing Indonesia’s mobility journey towards net-zero emissions and how government, small-medium enterprises and the industry can play a collective role in shaping this journey.

The panel featured speakers, including Ingrid Siburian, President Director and Country Chair of Shell Indonesia, Gigih Udi Atmo, Director of Conservation Energy, Directorate General of New, Renewable and Conservation Energy, Ministry of Energy and Mineral Resources of Indonesia, and Rahul Gupta, associate partner and a senior expert on sustainability at McKinsey & Company. They discussed the progress and outlook for the future of mobility in South-east Asia, the milestones which will indicate progress and the importance of collaboration.

About Shell Eco-marathon:

Shell Eco-marathon is a global academic program focused on energy optimization and one of the world’s leading student engineering competitions.

To learn more about Shell Eco-marathon, visit: https://www.shell.com.ph/energy-and-innovation/shell-eco-marathon.html

Cautionary note

^{The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement, “Shell”, “Shell Group” and “Group” are sometimes used for convenience where references are made to Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. “Joint ventures” and “joint operations” are collectively referred to as “joint arrangements”. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.}

Forward-Looking Statements

^{This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F for the year ended December 31, 2022 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, July 5, 2023. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.}

Shell’s net carbon intensity

^{Also, in this announcement we may refer to Shell’s “Net Carbon Intensity”, which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell only controls its own emissions. The use of the term Shell’s “Net Carbon Intensity” is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.}

Shell’s net-Zero Emissions Target

^{Shell’s operating plan, outlook and budgets are forecasted for a ten-year period and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next ten years. Accordingly, they reflect our Scope 1, Scope 2 and Net Carbon Intensity (NCI) targets over the next ten years. However, Shell’s operating plans cannot reflect our 2050 net-zero emissions target and 2035 NCI target, as these targets are currently outside our planning period. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.}

Forward Looking Non-GAAP measures

^{This announcement may contain certain forward-looking non-GAAP measures such as cash capital expenditure and divestments. We are unable to provide a reconciliation of these forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those Non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements. The contents of websites referred to in this announcement do not form part of this announcement. We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.}