Following regulatory approval, Shell Petroleum Company Limited, through its 100% owned subsidiary Impello Limited (Shell), has completed the sale of its home energy businesses, Shell Energy Retail Limited (SERL) in the UK and Shell Energy Retail GmbH (SERG) in Germany, to Octopus Energy Group.

The agreement was announced in September and comprises the sale of the shares in the respective businesses which have approximately two million customers.

Shell has seamlessly and successfully transferred ownership of the businesses which will eventually rebrand to Octopus Energy. Shell Energy Retail customers do not need to do anything at this time, and Octopus will keep customers informed of next steps.

Octopus is a leading energy retail company which provides innovative energy solutions to residential customers and operates in 17 countries.

The Shell Energy brand remains with Shell and will continue to focus on growing B2B supply.

Notes:

   - Shell continues to use the renewable power it generates to serve its customers, decarbonise its assets and to enable the production of low-carbon molecules. The company focuses on opportunities where it can integrate across the value chain through trading and optimisation.
   - Other home energy supply markets for Shell in the USA and Australia, where there is integrated value, are not included in this sales agreement.

About Shell plc

Shell plc is incorporated in England and Wales, has its headquarters in London and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.

About Octopus Energy

After attracting more than 5 million customers across nine countries, Octopus Energy is live in the United States. Octopus makes it easy for you to access affordable power as we transition to a clean energy future, through market leading innovation and technology. Founded in the UK in 2016, Octopus Energy has built its global reputation on being an energy tech pioneer and delivering outstanding customer service.