Shell completes acquisition of ARC Resources

This section is Partnership Content supplied by GlobeNewswire Calgary, September 2, 2026 − Shell plc has completed the previously announced agreement (the “Arrangement Agreement”) to acquire ARC Resources Ltd. (“ARC”) (TSX: ARX), an energy company focused in British Columbia and Alberta, Canada, following receipt of all required shareholder, court and regulatory approvals. The acquisition accelerates Shell’s strategy by adding approximately 370 kboe/d immediately across liquids and gas, supporting a production compound annual growth rate (CAGR) of around 4% through to 2030 compared with 2025. “Today we welcome ARC colleagues to Shell and look forward to building on their high-performance culture, operational excellence and technical expertise in Canada’s Montney basin,” said Shell’s Chief Executive Officer, Wael Sawan. “The acquisition increases Shell’s exposure to long-duration, low-cost liquids production. Through disciplined integration, we will build on the strengths of both organizations to unlock the value that underpins this transaction.” In accordance with terms of the Arrangement Agreement, ARC’s shareholders will receive CAD $8.20 in cash and 0.40247 ordinary shares of Shell plc (each whole share, a “Shell Share”) for each ARC common share (each, an “ARC Share”). Based on Shell’s closing share price of GBP £34.43 on September 2, 2026, and latest FX rates, this equates to an updated equity value of approximately US$13.9 billion. Shell will take on approximately US$2.5 billion in net debt and leases resulting in an enterprise value of approximately US$16.5 billion. The equity value of US$13.9 billion will be funded via US$3.3 billion in cash and US$10.6 billion in new Shell shares. The transaction is expected to generate double-digit returns, bolster long-term cash flows and be accretive to free cash flow share from 2027 onwards. Notes to editors As defined in the Arrangement Agreement, the effective date of the transaction is September 2, 2026 (the “Effective Date”). The process for delivery of Shell Shares in exchange for ARC Shares is anticipated to be completed several days following the Effective Date of the transaction. More information can be found at Information for shareholders | Shell Global The acquisition grows Shell’s producing interests in Canada and complements its existing LNG footprint and extensive downstream businesses including refining, chemicals, fuel retail, aviation, lubricants and low-carbon solutions. In…