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Remuneration at a glance

Fixed pay and shareholding

Base salary

  • Wael Sawan (CEO)

    £1,400,000

  • Sinead Gorman (CFO)

    £925,000

Pension

The Executive Directors are eligible to participate in the defined contribution UK Shell Pension Plan with an employer contribution rate of 20% of salary or take this as a pension cash alternative, consistent with other new employees.

Benefits

Typically include car allowance, home-to-office transport, and medical insurance. Following their relocation to the UK, the Executive Directors received relocation support for their families' move to the UK and a temporary housing allowance that ended in 2023.

Shareholding

Target levels, % of base salary

  • CEO

    700%

  • CFO

    500%

Actual levels, % of base salary at December 31, 2023

  • CEO

    330%

  • CFO

    182%

Annual bonus

2023 annual bonus

  • Wael Sawan

    £2,710,000

  • Sinead Gorman

    £1,720,000

2023 bonus scorecard outcome

  • Mathematical outcome:

    1.58

  • Given the fatalities in 2023, this was reduced to:

    1.55

No individual performance factor used in bonus calculation

Bonus delivery

50% deliveredin cash 50% deliveredin shares

Shares are subject to a three-year holding period which extends beyond an Executive Director's tenure.

Malus and clawback provisions apply.

Long-term Incentive Plan

2021 – 2023 LTIP vesting outcome

  • Wael Sawan

    £2,600,667

  • Sinead Gorman

    £834,061

Vesting outcome

Measures Outcome CFFO Vesting 0% TSR 30% ROACE 5 1 2 3 4 5 1 2 3 4 5 1 2 3 4 0% FCF 40% Energytransition 24% 94% (out of a 200% maximum) 194-vesting-outcome

Shares are subject to a three-year holding period which extends beyond an Executive Director's tenure.

Malus and clawback provisions apply.

Fixed pay and shareholding

Base salary

  • Wael Sawan (CEO)

    £1,455,000

    3.9%

  • Sinead Gorman (CFO)

    £961,000

    3.9%

Pension

No change for 2024.

Benefits

No change for 2024.

Shareholding

Target levels, % of base salary

  • CEO

    700%

  • CFO

    500%

Actual levels, % of base salary at March 8, 2024

  • CEO

    445%

  • CFO

    261%

Annual bonus

Target % of base salary

Target

  • Wael Sawan

    125%

  • Sinead Gorman

    125%

Maximum

  • Wael Sawan

    250%

  • Sinead Gorman

    250%

Scorecard architecture

35% 35% 15% 15% a b c d a Cash flow from operations (weighted 35%)b Operational excellence (Asset management excellence 15%, project delivery excellence 10%, customer excellence 10%)c Shell’s journey in the energy transition (LNG volumes [A] (5%), Reducing operational emissions (5%), Supporting customer decarbonisation (5%)d Safety (SIF-F 7.5%, Tier 1 and 2 process safety 7.5%)
  • [A]Equity liquefaction

Long-term Incentive Plan

Target awards % of base salary

Target

  • Wael Sawan

    300%

  • Sinead Gorman

    270%

Maximum

  • Wael Sawan

    600%

  • Sinead Gorman

    540%

Performance conditions

25% 25% 25% 25% a b c d a Relative cash generation (CFFO/average capital employed) (weighted 25%)b Relative TSR (25%)c Absolute OFCF (25%)d Shell's journey in the energy transition' (25%)

Performance against the relative performance conditions is assessed against other energy majors (BP, Chevron, ExxonMobil and TotalEnergies).