Glossary

AGM - Annual General Meeting

AFS – Audited Financial Statement

ASR – Annual Sustainability Report

b/d - barrels per day

bbl - barrel

boe(/d) - barrels of oil equivalent (per day)

CapEx – capital expenditure

CFFO – cash flow from operations

CO2 - carbon dioxide

COSA – cost of sales adjustment

E&C –Ethics & Compliance

FCF – free cash flow

GHG - greenhouse gas

GRM – gross refining margin

GTL - gas to liquids

HSE - health, safety and environment

HSC – Helix Service Centers

HSSE - health, safety, security and environment

IFRS - International Financial Reporting Standards

LNG - liquefied natural gas

LPG - liquefied petroleum gas

mtpa - million tonnes per annum

ML – million liters

MW – megawatts

NIAT – net income after tax

NGL - natural gas liquids

NMIF – North Mindanao Import Facility

NGO - non-governmental organisation

OPEC - Organization of the Petroleum Exporting Countries

OpEx – operating expense

PSFI – Pilipinas Shell Foundation, Inc.

PSPC – Pilipinas Shell Petroleum Corporation

ROACE – return on average capital employed

R&D - research and development

scf - standard cubic feet

SDG – UN Sustainable Development Goals

SHOC+ - Shell Helix Oil Change +

TRCF - total recordable case frequency

WTI - West Texas Intermediate