Royal Dutch Shell plc CFO Simon Henry - Global Oil & Gas Conference - September 27, 2012

ROYAL DUTCH SHELL PLCGLOBAL OIL AND GAS CONFERENCE DEUTSCHE BANK LONDON

LONDONSEPTEMBER 27 2012

Copyright of Royal Dutch Shell plc 27 September 2012 1

SEPTEMBER 27, 2012

ROYAL DUTCH SHELL PLCDEUTSCHE BANK LONDONSIMON HENRYCHIEF FINANCIAL OFFICER


DEFINITIONS AND CAUTIONARY NOTE

Resources: Our use of the term “resources” in this presentation includes quantities of oil and gas not yet classified as SEC proved oil and gas reserves or SEC provenmining reserves. Resources are consistent with the Society of Petroleum engineers 2P and 2C definitions.

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this presentation “Shell”, “Shell group” and “RoyalDutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us”Dutch Shell are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words we , usand “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served byidentifying the particular company or companies. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this presentation refer to companies in whichRoyal Dutch Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companiesin which Shell has significant influence but not control are referred to as “associated companies” or “associates” and companies in which Shell has joint control arereferred to as “jointly controlled entities”. In this presentation, associates and jointly controlled entities are also referred to as “equity-accounted investments”. The term“Shell interest” is used for convenience to indicate the direct and/or indirect (for example, through our 23% shareholding in Woodside Petroleum Ltd.) ownershipinterest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.

This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements otherthan statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that arebased on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance orevents to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the

t ti l f R l D t h Sh ll t k t i k d t t t i t’ t ti b li f ti t f t j ti dpotential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections andassumptions. These forward-looking statements are identified by their use of terms and phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’,‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘probably’’, ‘‘project’’, ‘‘will’’, ‘‘seek’’, ‘‘target’’, ‘‘risks’’, ‘‘goals’’, ‘‘should’’ and similar terms and phrases. Thereare a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in theforward-looking statements included in this presentation, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand forShell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmentaland physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets and successful negotiation and completion of suchand physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of suchtransactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developmentsincluding potential litigation and regulatory measures as a result of climate changes; (k) economic and financial market conditions in various countries and regions; (l)political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval ofprojects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this presentation areexpressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-lookingstatements. Additional factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended 31 December, 2011 (available atstatements. Additional factors that may affect future results are contained in Royal Dutch Shell s 20 F for the year ended 31 December, 2011 (available atwww.shell.com/investor and www.sec.gov ). These factors also should be considered by the reader. Each forward-looking statement speaks only as of the date of thispresentation, 27 September 2012. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-lookingstatement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferredfrom the forward-looking statements contained in this presentation. There can be no assurance that dividend payments will match or exceed those set out in thispresentation in the future, or that they will be made at all.


We use certain terms in this presentation, such as resources, that the United States Securities and Exchange Commission (SEC) guidelines strictly prohibit us fromincluding in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC websitewww.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.

OVERVIEW

Performance focus H1 ‘12 earnings $13 bln; EPS unchangedH1 ’12 asset sales $4 bln

Growth deliveryH1 ‘12 underlying production growth 4%GROWTH DELIVERY

CONTINUOUS IMPROVEMENT

H1 12 underlying production growth 4%>20 projects under construction

N th ti

MATURE NEW OPTIONS

New growth optionsExpanding our opportunity funnelFrontier exploration build

PERFORMANCE FOCUS

New integrated gas options


Earnings CCS basis, earnings and EPS excluding identified items

ENERGY INVESTMENT FUNDAMENTALS

12140

ROBUST LONGER TERM FUNDAMENTALS

energy demand outlook in million boe/d

MANAGING SHORT-TERM VOLATILITY

$/bbl $ per unit of measurement

10120

400

6

8

80

100300

440

60

100

200

0

2

0

20

0

100

2008 2009 2010 2011 2012 1980 1990 2000 2010 2020 2030 2040 2050

Brent (LHS)WTI (LHS)

Henry Hub $/mmbtu (RHS)

OilGas

BiomassWind

CoalNuclearSolarOther RenewablesSh ll ti iti

Western Canada Select (LHS)


Source: Shell analysis

Henry Hub $/mmbtu (RHS)Other RenewablesShell activitiesWeighted average refining margin $/bbl (RHS)


DOWNSTREAM: MINIMIZING UNPLANNED DOWNTIME%

10

UPSTREAM: WELL AND RESERVOIR MANAGEMENTOil production in ‘000 boe per day

95

855

20 000 b d

750

2006 2007 2008 2009 2010 2011 1H2012Implementation

of structured WRM process

20,000 bpd

65

Oil ProductsChemicals

552002 2004 2006 2008 2010 2012EXTRACTING MORE VALUE

FROM OUR ASSETS


Example: Oman

RECYCLING CAPITAL INTO NEW GROWTH

ACQUISITIONS 2011 - 2012 H1DIVESTMENTS 2011 - 2012 H1

~$12 billion

~$6 billionbillion billion

Upstream Upstream

Exit non-core positions

Downstream

Liquids-rich shales

Downstream

Strategic partnering; Prelude, GroundbirchRefinery-to-terminal conversions

Frontier exploration playsLNG optionality

RIGOROUS FOCUS ON CAPITAL EFFICIENCY


2012 DIVESTMENTS >$4 BLN

GROWTH DELIVERY RAMPING UP NEW PROJECTS

400

ATHABASCA OIL SANDS, QATARGAS 4, PEARL GTL

$ billion

PEARL GTL PRODUCT SLATE BUILD-UP

100% LPG

thousand boe/day

200

GASOLINE

NAPHTHA

LPG

NAPHTHA

NAPHTHANAPHTHANAPHTHA

GAS OIL

GAS OIL200

50%

GAS OIL

GAS OIL

KEROSENEGAS OIL

GAS OIL

0

1

0

0%Typical complex

KEROSENE

BASE OILPARAFFIN

BASE OILBASE OIL

PARAFFIN

BASE OIL

-2

-1 complexrefinery

22009 2010 2011 2012

CapexProduction (RHS)

FOCUS SHIFTS FROM DEVELOPMENT TO COMMERCIAL PERFORMANCE


Shell share

MAINTAINING GROWTH MOMENTUM

35

CONVERTING RESOURCES TO PRODUCTION

billion boe resources

UPSTREAM INVESTMENT 2012

%

25

35

Carmon CreekGeronggongBC-10 Ph. 3 (Massa)

Longer-term upside

15

25

EuropeAmericas

Asia PacificOther

Prelude FLNGAOSP debottl.NA tight gas /shalesClair Ph2

Tempa RossaFramMalikaiAOSP debottl + Quest

5

Clair Ph2Schiehallion

Pearl GTLQatarGas-4SchoonebeekQarn Alam EOR

Pluto (Woodside) HarweelNA tight gas/shalesEagle Ford

AOSP debottl. + QuestNA tight gas/shales

-5On-stream Under Construction Study Production

West Qurna 1 IPT

2010 2011

y

ROBUST PROJECT FLOW + GROWTH OUTLOOK8 BILLION BOE UNDER CONSTRUCTION


~4 MILLION BOED 2017-18

GROWTH DELIVERY 2012+ MAINTAINING LNG LEADERSHIP

SHELL GLOBAL LNG CAPACITY + GROWTH

million tonnes per annum

AUSTRALIA – INDONESIA

40Abadi FLNG

Greater Sunrise

Prelude FLNGBrowse

Pluto (Woodside)

Gorgon

Gorgon T1-3

Wheatstone & Prelude

North West Shelf

WheatstoneArrow

20Gorgon

U d C t tiProduction

02012 1H ~2020+

Under ConstructionOptions

OnstreamConstructionOptions

~21 MTPA ON-STREAM~7 MTPA UNDER CONSTRUCTIONMATURING FUTURE OPTIONS


PRELUDE FLOATING LNG


SHELL UPSTREAM AMERICAS GROWTH

TIGHT/SHALE DEEP-WATER

AOSP Debottlenecking

North America

Carmon Creek

Under ConstructionOptions

Eagle Ford Mars BCardamom

North America tight gas

North America Liquids rich shales

VitoStonesAppomattox

Lowest cost gas + integration plays

Eagleford development + new plays

Growth focusMars-B development + new options

+ new plays

HEAVY OIL2011 PRODUCTION

BC-10 Phase 2

BC-10 Massa Ph 3

Debottlenecking mining options

In-situ growth i i

Deep waterTight/shale


opportunitiesg /

Heavy oil

CONTINUED BUILD IN GULF OF MEXICO

Ram-PowellRam-Powell

GULF OF MEXICO: EAST GULF OF MEXICO: APPOMATTOX APPRAISAL

MC 393MC 347 MC 348

AppomattoxAppomattox

MM

NE AppraisalNW AppraisalH2 ‘12

VicksburgDiscovery

MC 348 & st

VitoVito

MarsMars

UrsaUrsa

Well Penetrations

DC 353

SW Appraisal

MC 391 MC 392 MC 393

AppomattoxDiscovery

y

H1 ‘13

VicksburgAppraisal

2012 Appraisal Success

Shell Leases2012 Shell access

0 50

milesShell Production Hubs

0 1

MilesShell Leases

Well PenetrationsOilWet

Caesar Tonga

Mars B

FID START-UPDISCOVERY

Cardamom

Stones

Appomattox

LEADING DEEP WATER PLAYER

GROWTH POTENTIAL


VitoGROWTH POTENTIAL

2005 2010 2015 2020

MATURING NEW OPTIONS:EXPLORATION & BUSINESS DEVELOPMENT

EXPLORATION PERFORMANCE BUILDING NEW ACREAGE

cumulative gross acreage‘000 km2

cumulative spend $ billion

Alaska

Greenland Timan Pechora15400

Turkey

Nova Scotia

China

Greenland

UkraineAlbania

Timan-Pechora

Nile Iraq

N. America tight/shale Kalmykia

10

200

Guyana / Fr Guiana

TanzaniaAustralia

YinggehaiGulf of Mexico

GabonBrazil

Colombia

Nile Delta

Malaysia Brunei DW

IraqQatar(block D)

Indonesia

PhilippinesBenin

5Australia CBM

offshore

Great South Basin

Orange BasinNeuquen

Brazil

002009 2010 2011 1H

20122012

AcreageEntry costs

Frontier acreage ( 2012 access)Tight/shale ( 2012 access)


NEW EXPLORATION POSITIONSNEW POTENTIAL: 2012 ACREAGE POSITIONS

UKRAINE CHINA

JAA Blocks

YuzivskaBl k

JAA Blocks

Yuzivska

U k r a i n e

H a i n a n( C h i n a )

Skifska

Block 62/17

Block 62/02

U k r a i n e

Skifska

0 200100Kilometers

Yuzivska – tight gas/shale

7800 km2 onshore block, adds to existing JAA acreage

Yinggehai Basin

~6000 km2

multi-tcf tight/shale gas potential

Skifska – Deepwater exploration

16,700 km2 frontier acreage, northern Black Sea

ca 100m water depths

3D seismic planned for 2013

Shell 100% in exploration phase; 49% in development h h


Shell 35%phase, with CNOOC

MATURING NEW OPTIONSNEW NORTH AMERICA INTEGRATED GAS POTENTIAL

Shell’s integrated gas capabilitiesEquity + industry resources base

LNG CanadaStudying 12 mtpa at KitimatShell 40% + strategic partners

Green corridor gas-to-transport0.3 mtpa at Jumping Pound

Equity + industry resources baseNatural hedge; oil/gas differential

MOVABLE MODULAR LIQUEFACTION SYSTEM (MMLS)

Gas-to-ChemicalsGas-to-

Western Canada gas resourcesGroundbirch resource potential increased from 6 tcfe to >12 tcfeShell 80%

GTL+ LNG Options

transport

FID ExecuteDefineSelectAssess Start-up Operate NORTH AMERICA

GAS MONETIZATION OPTIONS


ConstructionProject Specifications

Concept Selection

Feasibility Study

Ramp-up to full capacity

OPTIONS

FINANCIAL FRAMEWORK

3030%

NET DEBT AND GEARING$ billion

CAPITAL INVESTMENT

$ billion

10

20

30

10%

20% 2010 2011 H1 2012

Organic Investment 24 26 14

Acq isitions 7 5 1

00%2005 2006 2007 2008 2009 2010 2011 2012

H1Gearing (LHS)Net Debt (RHS)

Acquisitions 7 5 1

Disposals (7) (7) (4)

Net Capital Investment 24 24 11( )

RDS VERSUS FTSE 100Total dividend growth rate versus 2006

~$32 BLN ORGANIC CAPEX

10%

20%

30%$32 BLN ORGANIC CAPEX

2012

MAINTAINING PRUDENT BALANCE SHEET

-20%

-10%

0%2006 2007 2008 2009 2010 2011 2012

H1

RDS dividend growth

BALANCE SHEET

SELECTIVE PORTFOLIO BUILD


FTSE100 dividend growth

SUMMARY

Performance focus H1 ‘12 earnings $13 bln; EPS unchangedH1 ’12 asset sales $4 bln

GROWTH DELIVERY


Growth deliveryUnderlying production growth 4%

MATURE NEW OPTIONS

Underlying production growth 4%>20 projects under construction

N th tiPERFORMANCE FOCUS New growth optionsExpanding our opportunity funnelFrontier exploration buildNew integrated gas options


Earnings CCS basis, earnings and EPS excluding identified items

ROYAL DUTCH SHELL PLCDEUTSCHE BANK LONDON

QUESTIONS & ANSWERS


ROYAL DUTCH SHELL PLCGLOBAL OIL AND GAS CONFERENCE DEUTSCHE BANK LONDON

LONDONSEPTEMBER 27 2012


SEPTEMBER 27, 2012

Investor Relations

Royal Dutch Shell plc CFO Simon Henry - Global Oil & Gas Conference - September 27, 2012