Variable speed jig saw, metal cutting blade at reasonably low speed (to avoid the melting plastic effect).
Blue masking tape on the shield where the saw base will touch to avoid scratching.
Fine sandpaper wrapped around a block of wood to smooth out the edge after you're done.
If you're not going too short you can do it with the shield still on the bike.
Be sure to mark the path well before you begin cutting.
Stop as seldom as you can. Not at all is preferable.
Remember you can always cut again to remove more. It's a good deal more difficult to put some back on.
