Shell with new well drilling

Shell started drilling the exploratory well Suçuarana-1 in the CM-659 block, in the
Campos Basin, Rio de Janeiro. The well is in a water depth of 2,940 meters and
is being drilled by the Maersk Developer semi-submerssible drilling rig.

The block was acquired by the company in October 2019, for BRL 714 million in the 16th bidding
round for blocks under the concession regime. Shell is the main operator in the
area with a 40% share in partnership with Chevron (35%) and QPI (25%). Ibama
(Brazilian Institute for the Environment and Renewable Natural Resources) authorized
the company to drill up to six wells in block CM-659, one firm and five optional.