SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Aug 11, 2023

2. SEC Identification Number

14829

3. BIR Tax Identification No.

000-164-757

4. Exact name of issuer as specified in its charter

Shell Pilipinas Corporation

5. Province, country or other jurisdiction of incorporation

Taguig City, Metro Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Brgy. Fort Bonifacio Taguig City, Metro Manila Postal Code 1635

8. Issuer's telephone number, including area code

63234994001

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	1,613,444,202

11. Indicate the item numbers reported herein

Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Shell Pilipinas CorporationSHLPH

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Shell Pilipinas Shows Strong H1 Performance with 1.4B Core Earnings
Background/Description of the Disclosure
Shell Pilipinas Corporation (SPC) recovers from its net loss in Q1 and delivers a net income of P123 million for the first half of 2023, amid challenging conditions brought about by decreasing oil prices and tripling of interest rates. SPC’s core earnings for the first half of 2023 stand at P1.4 billion as its marketing business rebounds. Total marketing volume increased by 9% while premium products increased across key sectors. Non-fuel retail (NFR) also posted a double-digit growth of 14% from last year and is 33% higher than the pre-pandemic period. However, this remarkable marketing delivery was outweighed by the rise of borrowing costs and inventory holding losses realized because of the decline of global oil product prices. “We will continue our strong momentum in marketing delivery and will further reduce our expenses to accelerate our commitment to resume dividend payment and reward our dedicated shareholders,” “We have built momentum and we will finish strong for the second half of 2024. We will do this with brilliant basics and continued innovation to serve our ever-growing customer base with high quality Shell products through our best-in-class services and facilities,” SPC President and Chief Executive Officer Lorelie Quiambao-Osial said.
Other Relevant Information
N/A