Statement : No cup is a medal. All medals are trophies. No trophy is a shield. Some shield are prizes. Conclusion: Some medals are shields. Some medals are not shields. Some trophies being cups is a possibility. All trophies may be prizes.

All medals are trophies(A) + No trophy is a shield(E)`=>` No medal is a shield`=>`  I.I.`=>` No shield is  a medal`=>` conversion`=>` Some medals are not shields(O). Hence, conclusion I will not follow but conclusion II will follow. No cup is a medal(E) + All medals are trophies(A)`=>` Some trophies are not cups(O*)`=>` Probable conclusion`=>` Some trophies being cups is a possibility(I). Hence, conclusion III will follow. No trophy is a shield(E) + Some shield are prizes(I)`=>` Some prizes are not trophies(O*)`=>` Probable conclusion`=>` All trophies may be prizes. Hence, conclusion IV will follow.