Shell plc (SHEL) withdraws NYSE listing of 2.875% Notes due 2026

Rhea-AI Filing Summary

Shell plc notified the New York Stock Exchange of a voluntary withdrawal of the Guarantor of 2.875% Guaranteed Notes due 2026 from listing and registration under Section 12(b). The notice cites compliance with 17 CFR 240.12d2-2(c) and Exchange procedures for voluntary withdrawal.

Insights

Market Structure Analyst

Voluntary delisting of specific debt security, no equity action shown.

The filing records a voluntary withdrawal of a single class of debt securities — the Guarantor of 2.875% Guaranteed Notes due 2026 — from NYSE listing. This is an administrative change limited to the specified notes and does not indicate removal of the issuer's equity listing.

Cash‑flow treatment and trading alternatives for holders are not detailed in the excerpt; subsequent disclosures or broker communications will clarify trading venues and settlement procedures.

Securities Compliance Counsel

Form 25 filed under 17 CFR 240.12d2-2; procedural compliance described.

The notice states the Exchange and issuer complied with the rules in 17 CFR 240.12d2-2, including the voluntary withdrawal pathway under paragraph (c). The filing is procedural: it certifies exchange action and issuer consent for delisting of the specified notes.

Relevant follow-ups include any trustee notices to noteholders and the exchange’s public bulletin for the effective delisting date, which are not contained in this excerpt.

Key Figures

Coupon: 2.875% Governing rule: 17 CFR 240.12d2-2(c)

2 metrics

Coupon 2.875% Guarantor of Notes due 2026

Governing rule 17 CFR 240.12d2-2(c) Voluntary withdrawal of listing

Key Terms

Form 25, 17 CFR 240.12d2-2, Guaranteed Notes

3 terms

Form 25 regulatory

"FORM 25 NOTIFICATION OF REMOVAL FROM LISTING"

A Form 25 is an official filing with the U.S. Securities and Exchange Commission used to remove a company's stock or other security from a national exchange list. Investors should care because delisting often means less visibility, lower trading volume and wider price swings—similar to a product moving from a major supermarket to a small local market, which can make buying, selling and valuing the security more difficult.

17 CFR 240.12d2-2 regulatory

"Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied"

A U.S. Securities and Exchange Commission rule that describes the conditions and procedural steps for a security to be removed from public registration or reporting under the Securities Exchange Act of 1934. For investors, it matters because it explains when a company’s shares can stop being subject to regular disclosure and exchange listing rules — similar to knowing when a publicly tracked product will be discontinued and no longer send updates, which affects transparency and liquidity.

Guaranteed Notes financial

"Guarantor of 2.875% Guaranteed Notes due 2026"

Guaranteed notes are a type of investment where a third party promises to pay back your money with interest, no matter what happens to the market or the issuer. They matter because they offer added security, making them appealing to investors who want more certainty about getting their money back. Think of it like lending someone money with a guarantee from a trusted friend that you'll get paid back.

UNITED STATES

OMB APPROVAL

OMB Number:			3235-0080
Expires:	March 31, 2018
Estimated average burden
hours per response:			1.7

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-32575

Issuer:	Shell plc
Exchange:	NEW YORK STOCK EXCHANGE LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	Shell Centre 2-4 York Rd
	London
Telephone number:					44-20-7934-1234

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Guarantor of 2.875% Guaranteed Notes due 2026

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, NEW YORK STOCK EXCHANGE LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2026-05-11	By	Anthony Sozzi		Analyst, Market Watch
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What happened to Shell plc's 2.875% Guaranteed Notes due 2026 (SHEL)?

Shell plc voluntarily withdrew the Guarantor of the 2.875% Guaranteed Notes due 2026 from NYSE listing. The filing states the withdrawal was made under 17 CFR 240.12d2-2(c) and that Exchange rules were followed.

Does this Form 25 remove Shell plc's common stock from the NYSE?

No; the Form 25 applies to a specific class of debt securities — the Guarantor of the 2.875% Notes due 2026. The filing does not state any action affecting Shell plc common equity listing.

Will holders of the notes lose their investment because of the delisting?

The filing documents an administrative withdrawal of listing only. It does not state changes to contractual terms or payments for noteholders; trustee notices or prospectus supplements would disclose any changes to rights or payments.

What rule governs this withdrawal from NYSE listing?

The notice cites compliance with 17 CFR 240.12d2-2, specifically paragraph (c), which governs voluntary withdrawals of a class of securities from listing and registration on an exchange.