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BUILDING AN ENERGY FUTURE INVESTORS’ HANDBOOK ROYAL DUTCH SHELL PLC FINANCIAL AND 12'4#6+10#.+0(14/#6+10s 2 36 61 COMPANY OVERVIEW PROJECTS & TECHNOLOGY UPSTREAM DATA

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ABOUT THIS PUBLICATION

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#NKUVQHCDDTGXKCVKQPUWUGFKPVJKUJCPFDQQMECPDGHQWPFQP VJGKPUKFGDCEMEQXGT reports.shell.com | Shell Investors’ Handbook 1

INTRODUCTION FROM THE CEO

“SHELL HAS THE SCALE AND PORTFOLIO CHOICES TO MANAGE A THROUGH-CYCLE INVESTMENT STRATEGY FOR SUSTAINABLE GROWTH. INNOVATION AND A COMPETITIVE MINDSET IS AT THE HEART OF WHAT WE DO.”

At Shell we recognise the importance of demand as the population grows and living communicating with investors, ensuring standards rise, especially in fast-growing that they understand the Company, its economies. We estimate that by 2050, progress and its plans for the future. Our world energy demand could rise as much Investors’ Handbook plays an important as 80% from current levels. Innovation role. It includes fi nancial data going back and technology will be vital in accessing fi ve years, giving a broad view of the and transporting harder-to-reach resources Company, and explains our businesses and as more available forms of energy are operations. Importantly, it explains how depleted. Shell has the scale and portfolio our businesses work together to provide choices to manage a through-cycle enduring advantages. investment strategy for sustainable growth. Innovation and a competitive mindset is at In 2012, we made good progress in the heart of what we do. improving our performance, and we are on target to meet our strategic objectives. Our work in natural gas, which now Our 2012 earnings on a current cost of accounts for nearly 50% of our production, supplies basis were $27 billion. Cash provides an example. We see integrated fl ow from operating activities was $46 gas, comprising LNG and GTL, as a billion, or $43 billion excluding working particular area with future growth potential. capital movements. Net capital investment Our Pearl GTL plant illustrates our ability amounted to $30 billion, as we build a to create and operate very large scale solid foundation for future growth. projects working with national partners. Its output of fuels and other liquid products We produced 3.3 million barrels of made from natural gas help Qatar diversify oil equivalent per day in 2012, up its national revenues. 3% from 2011 excluding the effect of divestments and exits. There were important In 2012, we cut the fi rst steel for the hull contributions from our Pearl GTL plant in of our fl oating LNG facility for the Prelude Qatar, which is now ramped up, and the gas fi eld offshore Australia. It will liquefy Pluto LNG Project in Australia, through our gas far out at sea and deliver it to tankers participation in Woodside Petroleum Ltd. for export. By eliminating the need for Our equity LNG sales volumes of 20.2 pipelines to shore, it will demonstrate a million tonnes were up 7% compared with concept that could help us reach remote gas 2011. fi elds elsewhere in the world.

Over the past three years our growth To conclude, we are making good progress rates in earnings per share and operating towards our objectives. We continue cash fl ow have surpassed those of our to work hard to improve our operating competitors. And we continue to focus on performance, and we have clear strategic further improving our competitiveness. priorities to drive growth and value for our shareholders. I hope you will fi nd plenty of Our recent progress means that the growth information on these plans in this Investors’ agenda set out at the beginning of 2012 is Handbook. on track. Peter Voser Looking to the future, the world faces Chief Executive Offi cer the challenge of meeting rising energy

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 1 08-05-13 14:51 COMPANY OVERVIEW

OUR BUSINESSES

UPSTREAM INTERNATIONAL Upstream International manages the Upstream businesses outside the Americas. It explores for and recovers crude oil, natural gas and natural gas liquids, liqueﬁ es and transports gas, and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream International also manages Shell’s LNG and GTL businesses. Since January 2013, it manages its operations primarily by line of business, with this structure overlaying individual country organisations. This organisation is supported by activities such as Exploration and New Business Development. Previously activities were organised primarily by geographical location.

UPSTREAM AMERICAS Upstream Americas manages the Upstream businesses in North and South America. It explores for and recovers crude oil, natural gas and natural gas liquids, transports gas and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream Americas also extracts bitumen from oil sands that is converted into synthetic crude oil. Additionally, it manages the US-based wind business. It manages its operations by line of business, supported by activities such as Exploration and New Business Development.

DOWNSTREAM Downstream manages Shell’s refi ning and marketing activities for oil products and chemicals. These activities are organised into globally managed classes of business, although some are managed regionally or provided through support units. Refi ning includes manufacturing, supply and shipping of crude oil. Marketing sells a range of products including fuels, lubricants, bitumen and liquefi ed petroleum gas (LPG) for home, transport and industrial use. Chemicals produces and markets petrochemicals for industrial customers, including the raw materials for plastics, coatings and detergents. Downstream also trades Shell’s fl ow of hydrocarbons and other energy-related products, supplies the Downstream businesses, governs the marketing and trading of gas and power, and provides shipping services. Additionally, Downstream oversees Shell’s interests in alternative energy (including biofuels but

excluding wind) and CO2 management.

PROJECTS & TECHNOLOGY Projects & Technology manages the delivery of Shell’s major projects and drives the research and innovation to create technology solutions. It provides technical services and technology capability covering both Upstream and Downstream activities. It is also responsible for providing functional leadership across Shell in the areas of safety and environment, and contracting and procurement.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 2 08-05-13 14:51 reports.shell.com | Shell Investors’ Handbook 3 Company overview

BUILDING AN ENERGY FUTURE

Global energy demand is rising and so are consumer expectations – more people want energy from cleaner sources. At Shell we work with others to unlock new energy sources and squeeze more from what we have. We do this in responsible and innovative ways. In building a better energy future we all have a part to play. Shell is doing its part.

Producing oil Extracting Exploring for oil and gas bitumen and gas Mining Reﬁning oil oil sands into fuels and lubricants

Producing petrochemicals

Supply and Developing distribution ﬁ elds Shipping and trading Converting gas to liquid products (GTL) Producing biofuels Shipping and trading

Liquefying gas by cooling (LNG) Generating wind power B2B sales

CHEMICAL Regasifying PRODUCTS Retail sales LNG for plastics, Retail sales coatings, detergents

B2B sales FUELS AND LUBRICANTS for transport SHELL IS AN GAS for cooking, heating, INNOVATION-DRIVEN electrical power GLOBAL GROUP OF ENERGY AND PETROCHEMICAL COMPANIES.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 3 08-05-13 14:51 4 Shell Investors’ Handbook | reports.shell.com Company overview

HIGHLIGHTS 2012

FIRST Appraisal success at Appomattox discovery CNPC and Shell sign ﬁ rst shale gas production QUARTER Shell announced a successful appraisal operation at sharing contract in China its Appomattox discovery in deep water in the Gulf CNPC and Shell signed a production sharing contract of Mexico with resources potential of about 500 for shale gas exploration, development and production million boe. The appraisal well in Mississippi Canyon in the Fushun-Yongchuan Block in the Sichuan Basin, Block 348, in approximately 2,212 metres of water, China. was drilled to a total depth of 7,879 metres and encountered approximately 46 metres of oil pay.

SECOND Shell and partners announce LNG project Shell takes fi nal investment decision on two QUARTER in Canada projects in Nigeria Shell, KOGAS, Mitsubishi Corporation, and PetroChina In Nigeria, Shell took fi nal investment decisions on the announced that they are developing a proposed Forcados Yokri Integrated Project and the Southern liquefi ed natural gas (LNG) export facility in Western Swamp Associated Gas Gathering Project (Shell share Canada, near Kitimat, British Columbia. 30% for both projects). These projects are expected to produce about 100 thousand boe/d and 85 thousand boe/d respectively at peak production and reduce fl aring intensity.

THIRD Shell signs share purchase agreement to Shell increases Browse equity stake QUARTER acquire Gasnor In Australia Shell increased its interest in the West Shell, previously the owner of 4.1% of the shares in Browse joint venture to 35% and in the East Browse Gasnor AS, signed a share purchase agreement for joint venture to 25% in an exchange with Chevron the remaining outstanding shares in the company for for our 33.3% interest in Clio-Acme plus cash of $0.1 billion. approximately $0.5 billion.

Shell to construct world’s ﬁ rst oil sands Shell acquires liquids-rich shales in Texas carbon capture and storage project Shell acquired acreage in Texas from Chesapeake Shell announced that it will go ahead with the ﬁ rst Energy in a further step to build a leading portfolio of carbon capture and storage project for an oil sands shale assets rich in oil and natural gas liquids for an operation in Canada. The Quest project will capture announced consideration of $1.9 billion. The acquisition

and store more than one million tonnes of CO2 per covers 618,000 net acres in the Permian Basin in West year and reduce direct emissions from the Scotford Texas that currently produce about 26 thousand boe/d Upgrader by up to 35%. and have signiﬁ cant growth potential.

FOURTH Shell increases participation in the enhance the performance and economic potential of QUARTER Schiehallion fi eld and divests its Canadian key Shell North Sea operated and non-operated assets, Seal assets lifting Shell’s production in the Beryl area fi elds from Shell announced the signing of separate agreements 9 thousand boe/d to 20 thousand boe/d. Shell intends for the acquisition of Murphy Schiehallion Ltd’s 5.9% to invest in these assets to substantially extend the stake in the Schiehallion fi eld, in the UK North Sea, and production life, for a potentially further 20 years. for the sale of Shell’s interest in the Seal area within the Peace River oil sands of Alberta, Canada, to Murphy Construction begins on the Prelude FLNG Oil Company Ltd. project Shell celebrated the cutting of the fi rst steel for the Shell increases participation in the Beryl area game-changing Prelude fl oating liquefi ed natural fi elds in the North Sea gas (FLNG) facility’s substructure with joint venture In the UK we acquired 75% of Hess Corporation’s participants, INPEX and KOGAS, and lead contractor, interests in the Beryl area fi elds and Scottish Area the Technip Samsung Consortium, at Samsung Heavy Gas Evacuation system. The acquisition should help to Industries’ Geoje shipyard in South Korea.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 4 08-05-13 14:51 reports.shell.com | Shell Investors’ Handbook 5 Company overview

STRATEGY AND OUTLOOK

STRATEGY

Shell’s strategy is competitive and We focus on a series of strategic themes, Our commitment to technology and innovative. We seek to continuously each requiring distinctive technologies and innovation is at the core of our strategy. reinforce our position as a leader in the risk management: oil and gas industry while helping to meet global energy demand in a responsible § our upstream and downstream ‘engines’ way. We aim to create competitive returns are strongly cash generative, mature for shareholders. Safety, environmental and businesses, which will underpin our social responsibility are at the heart of our ﬁ nancial performance to at least the end activities. of this decade;

Intense competition exists for access to § our growth priorities are in three strategic upstream resources and to new downstream themes, namely integrated gas, deep markets. But we believe our technology, water and resources plays such as shale project-delivery capability and operational oil and gas. These will provide our excellence will remain key differentiators medium-term growth, and we expect them for our businesses. to become core engines in the future; and

In Upstream we focus on exploration for § our future opportunities include the Arctic, new liquids and natural gas reserves, and Iraq, Kazakhstan, Nigeria, and heavy oil, on developing major new projects where where we believe large reserves positions our technology and know-how add value could potentially become available, with for the resource holders. We expect about the pace of development driven by market 80% of our capital investment in 2013 to and local operating conditions. be in our Upstream businesses. Meeting the growing demand for In Downstream, our emphasis remains energy worldwide in ways that minimise on sustained cash generation from our environmental and social impact is a major existing assets and making selective growth challenge for the global energy industry. investments. We aim to improve energy efﬁ ciency in our own operations and support customers in managing their energy demands.

CONVERTING RESOURCES TO PRODUCTION RETURNS billion boe $ billion %

35 Abadi FLNG Phase 1 250 40 Tukau Timur Zaedyus 30 Zabazaba Gbaran Ubie Phase 2 Rab Harweel 200 25 Tempa Rossa Erha North Phase 3 30 Malikai ML South Forcados Yokri BC-10 Phase 3 20 Southern Swamp Eagle Ford 150 AOSP Debottlenecking Permian 15 North American tight gas/shales 20 Majnoon FCP 100 10 Pluto (Woodside) Petai Harweel Amal Steam North American tight gas/shales Kashagan Phase 1 5 Eagle Ford BC-10 Phase 2 10 Caesar Tonga NorthWest Shelf North Rankin 2 50 0 Gumusut-Kakap (early oil) AOSP Debottlenecking

-5 0 0 2008 2009 2010 2011 2012 2012 2013+ 2008 2009 2010 2011 2012 On-stream Long-term upside Capital in service Under construction Capital other Study Return on capital in service (%) Production Return on capital employed (%)

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 5 08-05-13 14:51 6 Shell Investors’ Handbook | reports.shell.com Company overview

OUTLOOK

We continuously work to improve our the long term. We have the potential to net capital investment and production, operating performance, with an emphasis reach an average production of some are based on management’s current on health, safety and environment, asset 4.0 million boe/d in 2017–2018, expectations and certain material performance and operating costs. Asset compared with 3.3 million boe/d in assumptions and, accordingly, involve risk sales are a key element of our strategy 2012. This will be driven by the timing and uncertainties that could cause actual – improving our capital effi ciency by of investment decisions and the near-term results, performance and outcomes to differ focusing investment on the most attractive macroeconomic outlook. In Downstream we materially from those expressed herein. growth opportunities. Sales of non-core evaluate selective growth opportunities in assets in 2010–2012 generated about chemicals, biofuels and growth markets. $21 billion in divestment proceeds. Exits from further positions in 2013 are expected Shell has built up a substantial portfolio to generate up to $3 billion in divestment of options for a next wave of growth. This proceeds. portfolio has been designed to capture energy price upside and manage Shell’s In early 2012, we set out a new exposure to industry challenges from cost growth agenda. For the period from infl ation and political risk. Key elements 2012–2015, we aim to deliver cash fl ow of this opportunity set are in global from operations (CFFO) totalling $175- exploration and established resource 200 billion excluding working capital positions in the Gulf of Mexico, North movements. This is about 30-50% higher American resources plays and Australian compared with the 2008–2011 period. LNG. These projects help ensure that the This target assumes that the Brent oil price portfolio has the potential to underpin is in the $80-100 per barrel range, and production growth to the end of this that North American natural gas prices decade. Shell is working to mature these and downstream margins will be higher projects, with an emphasis on fi nancial than in 2012. The increased cash fl ow returns. would fi nance an expected net capital investment programme of $120-130 billion The statements in this Strategy and outlook for 2012–2015, an increase of about section do not take into account the impact 10-20% compared with the 2008–2011 of the agreement to acquire part of Repsol level, and fund competitive dividends for S.A.’s LNG portfolio, which was announced shareholders. Shell is on track to deliver in February 2013. these targets. The statements in this Strategy and outlook Shell’s strategy in Upstream is designed section, including those related to our to drive fi nancial growth, with production growth strategies and our expected or growth regarded as a proxy for this over potential future cash fl ow from operations,

DIVESTMENTS 2010-2012 IMPACT OF KEY UPSTREAM START-UPS [A] TOTAL CAPITAL INVESTMENT $ billKQP $ billion 20 40

15 Upstream 30 Downstream 10

Total $21 billion 5 20

0

10 -5

-10 0 -15

-20 -10 2010 2011 2012 2013 2014 2015 2012 2013 2012 2013 %CUJƃQYHrQOQRGratKQPUsUVCrVWRU Downstream Divestments Upstream Africa, %CUJƃQYHrQOQRGratKQPU starVWRU and Corporate Upstream Middle East, CIS OrICPKEECRGZs starVWRU Upstream Americas Upstream Europe OrICPKEECRGZ starVWRU Acquisitions Upstream #UKC2CEKƂE [A] CFFO outlook at $100/b Brent, assumes improved US gas environment from 2012; CFFO excludes working capital movements.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 6 08-05-13 14:51 reports.shell.com | Shell Investors’ Handbook 7 Company overview

STRATEGIC THEMES

DOWNSTREAM ENGINE UPSTREAM ENGINE INTEGRATED GAS In our downstream engine, our emphasis Shell’s upstream engine focuses on cash Shell is the leading international oil remains on sustained cash generation from generation from our mature basins. Focused company for integrated gas, which our existing assets and selective growth exploration, licence renewals and the comprises LNG and GTL. Earnings from investments. application of Shell’s advanced technology integrated gas were more than $9 billion will all contribute to extending the life of in 2012 (about 40% of our total group The implementation of our strategy will see these assets in a safe and responsible earnings) and generated $12 billion of us actively manage our assets around three manner. cash fl ow from operations (more than 20% themes in Downstream: of the total). Our positions in Europe, south-east Asia § operational excellence and cost and some of the Middle East are included We have 22 million tonnes per annum effi ciency, to maximise the uptime and in the upstream engine and should underpin (mtpa) of LNG capacity on-stream today operating performance of our asset base; the fi nancial performance of our Upstream and our LNG sales volumes grew 7% in § driving the profi tability of our refi nery businesses up to the end of the decade. 2012. The next tranche of LNG growth for portfolio by optimising integration with Shell will come from Australia where we crude supplies, marketing outlets and have 7 mtpa under construction that will petrochemical plants; and increase our capacity by 30% by 2017. § selective growth in countries such as We have also worked internationally to Brazil, China and India while maintaining diversify our integrated gas optionality, or increasing our margins in our core which will then allow us to progress the countries. most attractive options for the next tranche of growth. We are currently studying new LNG options representing 20 mtpa of capacity that could increase our output by as much as 70% after 2017.

CFFO GROWTH AND INVESTMENT PLAN FINANCIAL FRAMEWORK [A] $ billion

50 $100/b CASH PERFORMANCE

Free $175-200 billion CFFO 2012–2015 40 ECUJƃQY )TQYHTGGECUJƃQY $91/b CFFO drives investment and pay-out

30 PAY-OUT INVESTMENT Dividend linked to business results $120-130 billion net capex 2012–2015 20 Scrip dividend with buyback offset ~$33 billion net capex 2013 Expected dividend growth 2013 #HHQTFCDKNKV[RTQƂVCDKNKV[RQTVHQNKQ 10

BALANCE SHEET 0 0-30% gearing through cycle 2009–11 average 2012–15 average potential [A] Balance sheet underpins investment CFFO excluding working capital movements Net capital investment Capital employed grows steadily Dividends and buybacks Macro sensitivity [B] [A] CFFO and capex outlook at $100/b Brent, assumes [A] CFFO and capex outlook at $80-100/b Brent and assumes improved US gas and downstream environment improved US gas, WTI and downstream environment from from 2012. 2012; CFFO excludes working capital movements. [B] Potential impact in $100/b Brent scenario from continuation of 2012 downstream environment, Henry Hub, WCS and WTI discounts.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 7 08-05-13 14:51 8 Shell Investors’ Handbook | reports.shell.com Company overview

DEEP WATER RESOURCES PLAYS FUTURE OPPORTUNITIES Shell is one of the industry’s pioneers in Hydraulic fracturing technologies have This strategic theme covers the Arctic, Iraq, the deep-water oil and gas business with opened up an exciting new resources base Kazakhstan, Nigeria and heavy oil plays. some 330 thousand boe/d of production in for the industry and Shell intends to be a In these areas, Shell has access to large 2012, and a strong growth outlook. leading player in this area. resources positions – typically in oil – but there are surface issues that can slow We have nine new fi elds under We currently have positions in resources down the development pace. These include construction, in Brazil, the Gulf of plays – tight gas and shales – in 14 community and government relations, Mexico and south-east Asia. We focus on countries. Our production today is security of staff and evolving local fi scal standardising development concepts. For dominated by North American gas and environmental regulations. example, in the deep waters of the Gulf and liquids-rich plays, with exploration of Mexico, Shell pioneered tension-leg and appraisal activities in a number of We are in these provinces for their long- platform developments at the Auger fi eld basins worldwide. We are building up term potential and we expect to see a in 1993. Today, the new Olympus TLP is our operating capabilities and working measured development pace. being installed at the Mars B development, to reduce costs in the supply chain. For Shell’s sixth and largest tension-leg platform example, in 2012 we incorporated Sirius worldwide. Well Manufacturing Services, our 50:50 joint venture with China National Petroleum In addition to this production and Corporation (CNPC). It will use advanced development portfolio, Shell has built up techniques to drill multiple wells for tight, new resources potential, with deep-water shale and coalbed gas in a highly effi cient, frontier exploration positions in a number repeatable way. of countries worldwide. These basins could become growth hubs for Shell in the future.

PRODUCTION OUTLOOK [A] OIL AND GAS PRODUCTION AND OUTCOMES % million boe/d

100 Region Strategic theme 4

75 3

50 2

25 1

0 0 2012 2017–18 2012 2017–18 2011 2012 2012+ 2017–18 Americas Upstream engine Resources Production and potential average #UKC2CEKƂE Integrated gas plays Asset sales Europe Deep water Future Africa, Middle East, CIS opportunities [A] Outlook at $80/b Brent, assumes improved US gas prices from 2012 and 250 kboe/d divestments and lease expiries 2012+.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 8 08-05-13 14:51 reports.shell.com | Shell Investors’ Handbook 9 Company overview

KEY PROJECTS UNDER CONSTRUCTION

SCHIEHALLION REDEVELOPMENT CLAIR PH2 FRAM AOSP CORRIB DEBOTTLENECKING KASHAGAN PH1 NORTH AMERICAN TEMPA ROSSA NORTH AMERICAN LIQUIDS-RICH SHALES TIGHT GAS MAJNOON FCP MARS B, W. BOREAS & S. DEIMOS BAB SAS CARDAMOM AMAL STEAM

FORCADOS YOKRI SOUTHERN SWAMP PETAI GUMUSUT-KAKAP MALIKAI BONGA NW SABAH GAS KEBABANGAN

WHEATSTONE LNG PRELUDE FLNG KEY NORTH RANKIN 2 n Upstream engine BC-10 PH2 GREATER WESTERN FLANK PH A GORGON LNG T1-3 n Integrated gas n Deep water n Resources plays n Future opportunities

KEY PROJECTS – POST FINAL INVESTMENT DECISION [A] Shell interest Peak production LNG 100% Shell Start-up Project Country (%) 100% (kboe/d) capacity (mtpa) Strategy theme operated 2013–2014 Amal Steam Oman 34 20 Upstream engine AOSP Debottlenecking Canada 60 10 Future opportunities l Bab Thamama G/Bab Habshan-2 United Arab Emirates 9.5 80 Upstream engine BC-10 Phase 2 Brazil 50 35 Deep water l Bonga North West Nigeria 55 40 Deep water l Cardamom USA 100 50 Deep water l Gumusut-Kakap Malaysia 33 135 Deep water l Kashagan Phase 1 Kazakhstan 17 300 Future opportunities Majnoon FCP Iraq 45 >30[B] Future opportunities l Mars B, W. Boreas & S. Deimos USA 71.5 100 Deep water l North American liquids-rich shales USA/Canada Various ~80[C] Resources plays l North American tight gas USA/Canada Various ~65[C] Resources plays l North Rankin 2 Australia 21 295 Integrated gas Petai Malaysia 21 30 Deep water SAS United Arab Emirates 9.5 115 Upstream engine 2015–2016 Clair Phase 2 UK 28 120 Upstream engine Corrib Ireland 45 45 Upstream engine l Forcados Yokri Integrated Project Nigeria 30 90 Future opportunities l Fram UK 32 35 Upstream engine l Gorgon LNG T1-3 Australia 25 440 15 Integrated gas Malikai Malaysia 35 60 Deep water l Greater Western Flank Phase A Australia 21 90 Integrated gas Sabah Gas Kebabangan (KBB) Malaysia 30 130 Deep water Schiehallion Redevelopment UK 55 130 Upstream engine Southern Swamp AG Nigeria 30 85 Future opportunities l Tempa Rossa Italy 25 45 Upstream engine 2017+ Prelude FLNG Australia 67.5 110 3.6[D] Integrated gas l Wheatstone LNG Australia 6.4 260 8.9 Integrated gas [A] Overview as per end of January 2013. [B] Shell entitlement at $80/b. [C] Shell share (subject to investment pace). [D] Not including 1.7 mtpa NGLs.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 9 08-05-13 14:51 10 Shell Investors’ Handbook | reports.shell.com Company overview

KEY PROJECT S UPDATE

CARDAMOM DEEP at peak production. Operated by Shell, it is will be the largest offshore facility in the (Shell interest 100%; Shell operated) the country’s third deep-water project. The world, measuring 488 metres by 74 metres. The Cardamom reservoir lies below the Malikai development will require 17 wells Total production capacity will be 3.6 mtpa Auger fi eld in the deep waters of the Gulf drilled from a 23,500 tonne tension leg of LNG, 1.3 mtpa of condensate and 0.4 of Mexico. Shell discovered the Cardamom platform production facility, the fi rst to be mtpa of LPG. Shell has moved forward reservoir in 2010 using advanced seismic fabricated and installed in Malaysia. The rapidly to bring this project to reality and technology that was able to produce contracts for the engineering, procurement in October 2012, the fi rst steel was cut for improved images versus traditional seismic and construction of this platform have been the hull. First production of LNG is expected methods. The fi eld is expected to produce a awarded. some 10 years after the Prelude gas fi eld peak of 50 thousand boe/d through wells has been discovered. connected to the existing Auger platform, MARS B some directly and others via a new subsea (Shell interest 71.5%; Shell operated) SCHIEHALLION tie-back system. The wells are currently The Mars B project will help boost (Shell interest 55%) being drilled. The start-up is expected production from the Mars fi eld and bring The Schiehallion fi eld is located in blocks within the next two years. on-stream two other nearby fi elds – West 204 and 205, approximately 175 Boreas and South Deimos. The fi elds are kilometres west of the Shetland Islands, KASHAGAN PHASE 1 located in water about 900 metres (some off the Scottish coast. The Schiehallion (Shell interest 17%) 3,000 feet) deep in the Gulf of Mexico. The Redevelopment Project will replace an Kashagan is located offshore, about 80 Mars B project includes the construction of existing fl oating production, storage and kilometres from Atyrau and extends over a new tension-leg platform. Peak production offl oading unit (FPSO) with a newly built an area of approximately 75 kilometres by will be 100 thousand boe/d. The Mars one. In so doing, the project will extend the 45 kilometres. This is a deep, high-pressure fi eld has been one of Shell’s most important expected life of the fi eld. The new FPSO reservoir in a region that experiences fi elds over the last 15 years. Yet by the end will be capable of exporting as much as wide temperature variations from -40 to of 2011, the fi eld still contained around 1.1 130 thousand boe/d and store in excess +40 degrees Celsius. Due to its size and billion boe. The Mars B project extends the of 900 thousand boe. The fi nal investment technical complexity, the Kashagan fi eld is life of the fi eld to at least 2050. decision for the project was announced in being developed in phases. With its current 2011. In 2012, we announced the signing confi guration, Phase I is built to produce NORTH AMERICAN RESOURCES PLAYS of agreements with Murphy Oil Company 300 thousand boe/d at peak production (Shell interests various; Shell operated) and Hess Corporation to increase our stake and is expected to start up later this year. Shell has an industry-leading portfolio to 55%. The additional equity offers Shell The operator is North Caspian Operating of dry gas and liquids-rich shale (LRS) access to substantial additional reserves Company (NCOC) and Shell has taken on resources in the USA and Canada. Drilling and redevelopment potential in the UK. signifi cant elements of the project execution focus has shifted away from dry gas plays and production operations to help bring the to LRS, and about 75% of our 2013 capital project to a timely delivery. expenditure in North American resources plays is expected to be in liquids-rich shale MAJNOON FCP areas. Shell owns about 30,000 square (Shell interest 45%; Shell operated) kilometres of acreage in North America In 2009, Shell and Petronas Carigali were (an increase of 10,000 square kilometres awarded a contract for technical assistance in the last year), of which about 60% is in developing the Majnoon fi eld, which LRS. The main regions of operation in the is located in Southern Iraq and is one of USA are Eagle Ford (Texas) and Permian the largest oil fi elds in the world. Petronas (Delaware basin) where Shell is currently holds a 30% interest and the Iraqi state has producing around 50 thousand boe/d. This a 25% participating interest in the licence. production will also create new integrated The project is making good progress gas options in the future. toward achieving the fi rst commercial production target of 175 thousand b/d. PRELUDE FLNG (Shell interest 67.5%; Shell operated) MALIKAI In 2011, Shell took its fi rst fi nal investment (Shell interest 35%; Shell operated) decision to move ahead with building In early 2013, Shell and partners a fl oating liquefi ed natural gas (FLNG) announced the fi nal investment decision to facility. The fl oating processing and storage develop the deep-water Malikai oil fi eld, facility will be moored above an offshore located some 100 kilometres offshore gas fi eld, liquefying the gas produced from Sabah, Malaysia. The fi eld, located in the fi eld. Ocean-going carriers will offl oad waters up to 500 metres deep, is part of the liquefi ed natural gas, as well as other the Block G production sharing contract liquid by-products, for delivery to market. awarded by Petronas in 1995, and is Located more than 200 kilometres offshore expected to produce 60 thousand boe/d Western Australia, the Prelude FLNG facility

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OPTIONS FOR POTENTIAL 2014–2020 START-UPS FUTURE GROWTH

Shell has a strong portfolio of pre-ﬁ nal investment decision options that can support production growth up to 2020. We have about 30 projects in the concept- selection or design phase, around half of which are to be operated by Shell. The projects include not only traditional exploration and production activities, but also involve deep water, LNG, tight KEY gas, liquids-rich shale and heavy oil. In n Downstream engine total, these projects represent some 13 n Upstream engine billion boe of resources. The main areas of n Integrated gas potential growth are the deep-water ﬁ elds n Deep water such as the Gulf of Mexico, tight-gas and n Resources plays liquids-rich shale resources (mainly in North n Future opportunities America) and LNG projects in Oceania.

POTENTIAL 2014–2020 START-UPS Shell interest Peak production LNG 100% Shell Phase Project Country (%) 100% (kboe/d) capacity (mtpa) Strategy theme operated Concept AOSP Debottlenecking Canada 60 55 Future opportunities l selection Appomattox USA 80 150 Deep water l Basrah Gas Company Rehab & Rejuvenation Iraq 44 Future opportunities Bonga North Nigeria 55 200 Deep water l Bosi Field Development Nigeria 44 130 Deep water Geronggong Brunei 50 Deep water Gorgon T4 Expansion Australia 25 250 5 Integrated gas LNG Canada Canada 40 12 Integrated gas l Majnoon FFD [A] Iraq 45 100 Future opportunities l Nigeria NLNG Train 7 Nigeria 26 220 8.4 Integrated gas Pearls – Khazar Kazakhstan 55 50 Future opportunities Pennsylvania Gas to Chemicals USA 100 Downstream engine l Sunrise LNG Australia 34 120 4.1 Integrated gas Tukau Timur Malaysia 50 55 Upstream engine Vito USA 51 100 Deep water l West Qurna FFD Iraq 15 200 Future opportunities Zabazaba Nigeria 50 170 Deep water Zaedyus French Guiana 45 Deep water l Design Abadi FLNG Phase 1 Indonesia 30 65 2.5 Integrated gas AOSP Debottlenecking Canada 60 20 Future opportunities l Arrow Energy LNG Australia 50 160 8 Integrated gas BC-10 Massa Phase 3 Brazil 50 30 Deep water l Bokor Phase 3 Malaysia 40 25 Upstream engine Bonga South West/Aparo Nigeria 44 200 Deep water l Browse (BCT) LNG Australia 34 310 >10 Integrated gas Carmon Creek Expansion Phase 1 & 2 Canada 100 80 Future opportunities l Erha North Phase 3 Nigeria 44 60 Deep water Gas to Transport USA/Canada 100 0.5 Integrated gas l Gbaran Ubie Phase 2 Nigeria 30 165 Future opportunities l Linnorm Norway 30 50 Upstream engine l ML South Brunei 35 30 Upstream engine North American liquids-rich shales USA/Canada Various >170[B] Resources plays l North American tight gas USA/Canada Various ~200[B] Resources plays l Project Q (Al Karaana Petrochemicals) Qatar 20 Downstream engine Rabab Harweel Integrated Project Oman 34 40 Upstream engine Stones USA 60 60 Deep water l [A] Shell entitlement at $80/b. [B] Shell share (subject to investment pace).

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MARKET OVERVIEW

SHELL REALISED PRICES YEAR AVERAGE 2012 2011 2010 2009 2008 SUBS EAI SUBS EAI SUBS EAI SUBS EAI SUBS EAI Oil and natural gas liquids ($/b) Europe 108.13 104.60 106.77 103.97 73.35 83.24 55.53 56.97 89.28 86.33 Asia 107.76 67.33 103.73 62.81 76.21 44.27 57.50 36.53 95.92 49.78 Oceania 91.62 90.14[A] 92.38 99.74[A] 67.90 78.05[A] 50.47 56.16[A] 85.92 99.99[A] Africa 112.45 111.70 79.63 61.45 98.52 North America – USA 103.59 110.00 104.93 109.49 76.36 74.27 57.25 56.24 97.95 89.74 North America – Canada 68.31 70.72 53.23 39.26 67.07[B] South America 100.01 97.33 100.44 97.76 69.99 63.57 57.76 58.00 79.42 82.25 Total 107.15 76.01 105.74 73.01 75.74 52.42 57.39 42.49 92.75 63.59 Natural gas ($/thousand scf) Europe 9.48 9.64 9.40 8.58 6.87 6.71 7.06 8.17 9.46 10.87 Asia 4.81 10.13 4.83 8.37 4.40 6.55 3.61 4.26 4.67 7.06 Oceania 11.14 9.48[A] 9.95 10.09 8.59 8.79[A] 5.29 3.94[A] 2.96 4.13[A] Africa 2.74 2.32 1.96 1.71 1.67 North America – USA 3.17 7.88 4.54 8.91 4.90 7.27 4.36 5.02 9.61 12.15 North America – Canada 2.36 3.64 4.09 3.73 7.71 South America 2.63 1.04 2.81 0.99 3.79 3.18 4.37 Total 5.53 9.81 5.92 8.58 5.28 6.81 4.83 6.73 6.85 9.63 Other ($/b) North America – Bitumen 68.97 76.28 66.00 50.00 North America – Synthetic crude oil 81.46 91.32 71.56 56.23 North America – Minable oil sands 88.98 [A] Estimate based on publicly available data. [B] Includes bitumen.

OIL AND GAS MARKER INDUSTRY PRICES REFINING MARKER INDUSTRY GROSS MARGINS CHEMICAL MARGINS $/b $/MMBtu $/b $/tonne

120 10 10 1,000

110 9 8 800 100 8 6 90 7 600

80 6 4

400 70 5 2 60 4 200 0 50 3

40 2 -2 0 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Brent US West Coast margin US ethane WTI US Gulf Coast coking margin [A] Western Europe naphtha [A] Japanese Crude Cocktail (JCC) [A] Rotterdam complex margin [B] East Asia naphtha Henry Hub ($/MMBtu) Singapore [A] Based on available market information at the end of the year. [A] US Gulf Coast margin up to and including 2009. [A] Based on available market information at the end of the year. [B] Rotterdam Brent up to and including 2009.

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RESULTS

SUMMARY OF RESULTS $ MILLION 2012 2011 2010 2009 2008 Upstream 22,162 24,455 15,935 8,354 26,506 Downstream (current cost of supplies (CCS) basis) 5,350 4,289 2,950 258 5,309 Corporate and non-controlling interest (468) (119) (242) 1,192 (449) CCS earnings 27,044 28,625 18,643 9,804 31,366 Estimated CCS adjustment for Downstream (452) 2,293 1,484 2,714 (5,089) Income attributable to shareholders 26,592 30,918 20,127 12,518 26,277 Identifi ed items 1,905 3,938 570 (1,749) 2,956 CCS earnings excluding identifi ed items 25,139 24,687 18,073 11,553 28,410 Basic CCS earnings per share ($) 4.32 4.61 3.04 1.60 5.09 Estimated CCS adjustment per share ($) (0.07) 0.37 0.24 0.44 (0.82) Basic earnings per €0.07 ordinary share ($) 4.25 4.98 3.28 2.04 4.27 Basic earnings per ADS ($) 8.50 9.96 6.56 4.08 8.54 Net cash from operating activities 46,140 36,771 27,350 21,488 43,918 Cash fl ow from operating activities per share ($) 7.37 5.92 4.46 3.51 7.13 Dividend per share ($) 1.72 1.68 1.68 1.68 1.60 Dividend per ADS ($) 3.44 3.36 3.36 3.36 3.20

CCS EARNINGS TOTAL SHAREHOLDER RETURN [A] NET CASH FROM OPERATING ACTIVITIES $ billion % $ billion

30 60 50

25 50 40 40 20 30 30 15 20 10 20 10 5 0 10 0 -10

-5 -20 0 2010 2011 2012 ChevronShell ExxonMobil Total BP 2010 2011 2012 Upstream 2010–2012 Upstream Downstream Downstream Divestments/Other Corporate Corporate Source: Datastream. [A] TSR is averaged across year-end.

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HIGHLIGHTS § Produced 3.3 million boe/d of oil and gas, a 3% increase excluding the effect of divestments and exits. § Sold 20.2 million tonnes of liquefi ed natural gas (LNG). § Added 4 billion boe of resources in 2012 from exploration and acquisitions, compared with 1.2 billion boe of production. § Made seven notable new discoveries and appraisals in conventional exploration, including an appraisal at Appomattox, which now has more than 500 million boe potential. § Took fi nal investment decisions on Forcados Yokri and Southern Swamp in Nigeria; Tempa Rossa in Italy; Malikai in Malaysia; and North American liquids-rich shales. § Increased participation in the Draugen, Schiehallion and Beryl fi elds in the UK North Sea. § Acquired liquids-rich shales acreage in the Permian basin, Texas. § Divested three oil mining leases onshore Nigeria for a total consideration of more than $1 billion. § Found strategic partners for the Groundbirch project and Prelude FLNG, and diluted our stakes in these projects. § Signed the fi rst ever shale gas production sharing contract in China with CNPC. § Announced a proposal for developing an LNG export facility in Western Canada with strategic partners called LNG Canada.

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KEY STATISTICS 2012 2011 2010 2009 2008 EXPLORATION Upstream earnings ($ million) Upstream International 21,245 19,697 15,205 7,209 19,298 STRATEGY Upstream Americas 917 4,758 730 1,145 7,208 Our exploration strategy is designed to Total Upstream earnings ($ million) 22,162 24,455 15,935 8,354 26,506 deliver new resources that grow production, of which Integrated gas 10,978 7,279 5,727 1,785 4,093 creating substantial value for shareholders. Total Upstream earnings excluding identifi ed items Exploration remains the most cost-effective ($ million) 20,025 20,600 14,442 8,488 23,019 Upstream cash fl ow from operations ($ million) [A] 32,951 33,281 24,526 18,445 35,448 way to access new resources, and our Liquids production (thousand b/d) [B][C] 1,508 1,551 1,637 1,600 1,693 expertise, history and global reach give us Natural gas production (million scf/d) [B] 9,449 8,986 9,305 8,483 8,569 advantages in this area. We have extensive Synthetic crude oil production (thousand b/d) [B] 125 115 72 80 acreage in high-potential basins around Mined oil sands production (thousand b/d) [B] 78 the world and have had signifi cant success Total production (thousand boe/d) [B][D] 3,262 3,215 3,314 3,142 3,248 discovering resources in them. Exploration Equity sales of liquefi ed natural gas (LNG) in conventional basins and resources plays (million tonnes) 20.2 18.8 16.8 13.4 13.1 are managed separately at Shell. Upstream net capital investment ($ million) 25,320 19,083 21,222 22,326 28,257 Upstream capital employed ($ million) 139,277 126,437 113,631 98,826 83,997 DISCOVERIES Upstream employees (thousands) 26 27 26 23 22 Our exploration performance has been [A] Excludes net working capital movements. robust over the past few years. Seven [B] Available for sale. notable new discoveries and appraisals [C] Includes bitumen production. were made worldwide during 2012 in [D] Natural gas volumes are converted to oil equivalent using a factor of 5,800 scf per barrel. conventional exploration. In Australia, Shell participated in three notable conventional gas exploration discoveries. One could UPSTREAM EARNINGS [A] PRODUCTION add volumes for the Gorgon Train 4 $ billion million boe/d mtpa liquefi ed natural gas facility, and the others 25 5 25 could potentially lead to the development of an FLNG facility in the Outer Exmouth basin. In Malaysia, at the Tukau Timur well, 20 4 20 we discovered more than 2 tcf of gas in place, which will unlock satellite fi elds, and 15 3 15 should fl ow into Malaysia LNG. In Nigeria, the Zabazaba well appraised a sizable

10 2 10 oil ﬁ nd. In the Gulf of Mexico, we drilled successful appraisal wells at Appomattox (more than 500 million barrels potential) 5 1 5 and Vito, and in Brazil on the Gato do Mato structure. 0 0 0 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 There were also 10 notable successful Excluding integrated gas Liquids Integrated gas Gas appraisals in resources plays in Australia, Equity LNG sales volume (mtpa) Canada, China and the USA.

=#?'ZENWFKPIKFGPVKƂGFKVGOU ACREAGE ADDITIONS

Since 2008, Shell has acquired exploration rights to some 400,000 square kilometres. In 2012, we secured rights to more than 120,000 square kilometres, including positions in liquids-rich shales. Recent signiﬁ cant additions are speciﬁ ed below.

ALBANIA In February 2012, Shell signed a farm-in agreement and a joint operating agreement (JOA) with Petromanas to acquire a 50% working interest in Blocks 2 and 3.

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CONVENTIONAL EXPLORATION INVESTMENT CONVENTIONAL RESOURCES ADDED [A] Nordegg, Duvernay, Canol and Muskwa $ billion billion boe plays. In Groundbirch, Shell Canada 6 2.5 added additional dry gas resources.

5 Iraq CHINA 2.0 In January 2012, Shell signed a binding

4 Abadi Browse memorandum of understanding with 1.5 North Sea Ivanhoe Energy to buy its 90% participating 3 interest in the Zitong block in the Sichuan 1.0 Basin, located directly north of Shell’s JQ 2 block. A joint study agreement was also fi nalised and signed by Sinopec and Shell 0.5 1 in June, covering two exploration blocks (XeX1 and 2) in western Hubai Province 0 0 targeting the Silurian Longmaxi Shale. In 2009 2010 2011 2012 2013E 2010 2011 2012 July, Shell signed two production-sharing Exploration and appraisal Liquids Acreage/deals Gas contracts (PSCs) for offshore blocks 62/02 Deals and 62/17 in the Yinggehai Basin. Shell also accessed the shallower prospect above [A] Resources potential. the Zitong/Fushun prolifi c liquids-rich shale play in the Jurassic Daanzhai Formation, RESOURCES PLAYS INVESTMENT RESOURCES PLAYS ADDED [A] which covers a large area in the Central $ billion billion boe and Northern Sichuan basin. 8 3 COLOMBIA Liquids-rich Permian In October 2012, Shell was the successful Marcellus shales 6 Eagle Ford bidder for the deep-water block COL-3, Arrow 2 located directly south-west of Shell’s GUA-3 TEA block. 4 GUYANA 1 In July 2012, an assignment deed was 2 signed by the government of Guyana, ExxonMobil and Shell that formalised an increase in Shell’s stake in the Stabroek 0 0 permit from a 25% to a 50% working 2009 2010 2011 2012 2013E 2010 2011 2012 interest. Exploration and appraisal Liquids Acreage/deals Gas Deals MALAYSIA In March 2012, Shell signed PSCs [A] Resources potential. for deep-water Block 2B and Block SK318, and in September, Shell signed a PSC with Petronas (50%) for AUSTRALIA Deepwater Borneo as operator with an Block SK319. These three new exploration In July 2012, Shell Australia was awarded interest of 53.9%, and Petroleum Brunei licences offshore Sarawak, together the W11-2 permit located in the Browse holding a 46.1% interest. The signing of with Block SK408, amount to just under Basin offshore north-west Australia. The this new petroleum mining agreement marks 10,000 square kilometres of new acreage, new acreage, awarded as Shell 100% a further commitment by Shell to continue to expanding Shell’s heartland and enabling equity, contains multiple prospects. This explore and develop Brunei’s hydrocarbon further exploration in the Luconia/North position adds to Shell’s operated footprint resources. Luconia provinces. Offshore Sabah, Shell offshore north-west Australia. signed a PSC to access Block SB311 with a CANADA non-operated position. BENIN During 2012, Shell Canada was the In August 2012, Shell signed two farm-in successful bidder for four large exploration NEW ZEALAND agreements for the acquisition of a 35% blocks in deep-water Nova Scotia covering In December 2012, Shell Great South Basin participating interest in Benin Block 4 from more than 14,000 square kilometres and Ltd (operator) and partners were awarded Petrobras (15%) and Compagnie Béninoise focusing on a newly-recognised oil play. the exploration licence for block 12GS2 in des Hydrocarbures (20%). Shell Canada was also the successful the Great South Basin. The permit area lies bidder for fi ve parcels in the deep-water directly east of Shell’s PEP50119 block. BRUNEI Laurentian Basin as well as two parcels in In September 2012, Shell signed a the Sable Basin. In addition, several liquids- petroleum mining agreement, with Shell rich shale assets were accessed in the

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EXPLORATION AND APPRAISAL 2013–2014

ALASKA

RUSSIA

GERMANY UKRAINE NORTH AMERICAN LIQUIDS-RICH SHALES KAZAKHSTAN ALBANIA TURKEY CHINA EGYPT GULF OF MEXICO QATAR OMAN CHINA COLOMBIA BENIN NIGERIA BRUNEI FRENCH GUIANA MALAYSIA GABON TANZANIA

BRAZIL AUSTRALIA

KEY ARGENTINA n Frontier conventional 2013 NEW ZEALAND n Frontier conventional 2014 n Resources plays 2013

RUSSIA square kilometres of shale gas acreage in In May 2012, a second block was acquired the prospective Dnieper-Donetsk basin. by Shell in the Timan Pechora basin. Shell also won the Arkatoisky block, covering USA 1,500 square kilometres in the Yamalo- Shell acquired additional liquids-rich shale Nenets Autonomous Okrug in West Siberia, and shale-gas acreage in Appalachia, in in an auction held in October. It is Shell’s the Permian Basin, and in the Niobrara, ﬁ rst exploration block in this region of Mississippi Lime, and Wolcamp plays. Shell Siberia. In December, Shell successfully bid also accessed Gulf of Mexico sale blocks in for the Lenzitsky block in the West Siberian Lease Sale 218 and 216/222 in the Gulf Yamal-Nenets region. of Mexico. Shell was the successful bidder for 27 deep-water blocks. SOUTH AFRICA In February 2012, Shell signed the exploration right agreement, launching the ﬁ rst three-year period of exploration in the deep-water Orange Basin off the west coast of South Africa.

TANZANIA In June 2012, Shell farmed in to Petrobras’ deep-water Block 8 with a non-operating 50% share.

UKRAINE In August 2012, the Ukrainian government selected a partnership including ExxonMobil (operator), Shell (35% equity), OMV Petrom and NAK as winner of the production-sharing agreement tender for the Skifska block in deep water in the Black Sea. In May, Shell was awarded the Yuzivska licence covering almost 8,000

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PROVED RESERVES PRODUCTION

Production in 2012 was 3,262 thousand PROVED OIL AND GAS RESERVES ATTRIBUTABLE TO boe/d compared with 3,215 thousand ROYAL DUTCH SHELL PLC SHAREHOLDERS BILLION BOE boe/d in 2011. Liquids production was 2012 2011 2010 2009 2008 down 2% and natural gas production Organic reserves additions 1.0[A] 1.5[A] 1.6[A] 3.2[A] 1.1[B] increased by 5% compared with 2011. Production 1.2 1.2 1.2 1.2 1.2 Excluding the impact of divestments and Total proved reserves 13.6 14.2 14.2 14.1 11.9 exits, production volumes in 2012 were 3% [A] Excluding acquisitions, divestments and year-average price impact. higher than in 2011. [B] Excluding acquisitions, divestments and year-end price impact. In 2012, hydrocarbon production from new start-ups and the continuing ramp-up of new In 2012, Shell added 542 million boe of commodity prices in the USA (1,076 projects more than offset the impact of fi eld SEC proved oil and gas reserves before thousand million scf) and Canada (683 declines, and the impact of divestments accounting for the year’s production. At thousand million scf), and sales of minerals and exits. There was also further upside the end of the year, total proved oil and in place in Oceania (303 thousand million from new wells and improved reliability gas reserves excluding non-controlling scf, in Australia). compared with 2011, partially offset by interest were 13,556 million boe (9,855 changes in contractual entitlements and million boe for Shell subsidiaries and Proved reserves can be either developed or other non-operational factors. 3,701 million boe for equity-accounted undeveloped. Subsidiaries’ proved reserves investments). Reserves life (an estimate of at December 31, 2012, were divided into Production was mainly driven by the how many years it would take to exhaust 66% developed and 34% undeveloped continued ramp-up of new projects, notably the current proved reserves at the current on a barrel of oil equivalent basis. For the our Pearl GTL plant in Qatar, the start-up level of production) decreased from 11.8 Shell share of equity-accounted investments, of the Pluto LNG Project in Australia, years at the end of 2011 to approximately the proved reserves were divided into 81% and the fi rst full year of production from 11 years at the end of 2012. Reserves life developed and 19% undeveloped. Qatargas 4. Further additions also came is up from 2008, when we had 10 years of from new start-ups such as Harweel in reserves. Oman, and the early fi rst production from Gumusut-Kakap in Malaysia. The Reserves Replacement Ratio for Shell subsidiaries and equity-accounted investments was 44% in 2012 (and 84% over the last three years). Excluding acquisitions, divestments and price effects, the ratio was 85% in 2012, and 115% in the period 2010–2012.

Signifi cant oil and natural gas liquids (NGL) proved reserves additions in 2012 were from revisions and reclassifi cations from fi eld performance studies and development activities in Asia (270 million barrels, primarily in Brunei, Iraq, Kazakhstan, Malaysia, Oman, Russia and United Arab Emirates), Africa (95 million barrels, primarily in Gabon and Nigeria), the USA (80 million barrels) and Canada (131 million barrels), and from the purchase of minerals in place in Europe (56 million barrels, in Norway and the UK).

Signifi cant additions in natural gas reserves came from fi eld extensions and discoveries in the USA (393 thousand million scf), and from revisions and reclassifi cations in Asia (284 thousand million scf, primarily in Brunei and Russia). These additions were offset by signifi cant reductions in proved natural gas reserves from revisions and reclassifi cations associated with lower

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options to monetise natural gas in North liquefaction plants around the world INTEGRATED GAS America. These would be projects that – including the world’s fi rst commercial involve the entire natural gas value chain plant, which came on-stream in 1964 Strong growth in gas markets is a major and so play very much to Shell’s strengths in Algeria. LNG is fast becoming a truly opportunity for Shell. Our integrated gas as an integrated player. global commodity and will continue its earnings have more than trebled over rapid expansion in the years ahead, with the last fi ve years, reaching $9 billion in LNG global demand potentially doubling to 400 2012 or about 45% of Upstream earnings. Our expertise in the LNG industry is based mtpa by 2020 and 500 mtpa by 2025. This was mainly driven by several large on the more than 45 years of technical This will be driven by the growing gas liquefi ed natural gas (LNG) and gas-to- advice that we have provided for gas import needs of China, India, the Middle liquids (GTL) projects that came on-stream, including Pearl GTL, Pluto LNG Train 1 (Woodside), Qatargas 4 and Sakhalin-2. SHELL LNG CAPACITY GROWTH [A] LNG LEADERSHIP [A] Integrated gas earnings incorporate LNG, mtpa year-end mtpa including LNG marketing and trading, and 50 30 GTL operations. In addition, the associated upstream oil and gas production activities from the Sakhalin-2, North West Shelf, Pluto LNG Train 1 (Woodside), Qatargas 20 4 and Pearl GTL projects are included in integrated gas earnings. Power generation 25 and coal gasifi cation activities are also included in integrated gas. 10

The Prelude ﬂ oating LNG (FLNG) project as well as the Greater Western Flank Phase A, Gorgon LNG Trains 1-3, North Rankin 2 0 0 2007 2012 ~2020+ Shell ExxonMobil Chevron Total BG BP and Wheatstone LNG projects are currently On-stream 2012 under construction and are expected to Under construction 2017E come on-stream within the next few years. Options Shell is also considering GTL and LNG [A] Includes feedgas from non-integrated ventures. [A] Projects in operation or under construction.

GLOBAL INTEGRATED GAS PORTFOLIO [A]

SAKHALIN-2

PEARL GTL QATARGAS 4 OMAN LNG AND QALHAT LNG

NIGERIA LNG BRUNEI LNG MALAYSIA LNG BINTULU PRELUDE FLNG NORTH WEST SHELF PLUTO (WOODSIDE) GORGON WHEATSTONE KEY n LNG – in operation n LNG – under construction n Regasiﬁ cation – in operation n Regasiﬁ cation – under construction n GTL

[A] As of March 2013.

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ß The Pearl GTL plant in Qatar illustrates our large-scale project capabilities.

FLOATING LNG We believe that fl oating liquefi ed natural gas (FLNG) will write the next chapter in the history of the industry. In the coming years, Shell will start to produce and liquefy natural gas at sea, enabling the development of gas resources ranging from clusters of smaller and more remote offshore fi elds to potentially larger fi elds. FLNG can East and Europe – but also by new higher from Nigeria LNG, helped by a open up new business opportunities for importers such as Malaysia, the Philippines, stable gas supply, and from the Sakhalin-2 countries looking to develop their natural Singapore, Thailand and Vietnam. project, where production exceeded gas resources. 10 mtpa. At Shell, we are proud of our leadership in In May 2011, Shell announced the world’s this sector of the industry. In 2012, ventures Three LNG projects are currently under fi rst fi nal investment decision to build an in which Shell participated supplied as construction in Australia, with capacity FLNG facility. The facility will be used much as 35% of global LNG. We have totalling about 7 mtpa: Prelude FLNG to develop the Prelude gas fi eld, 200 about 22 mtpa of Shell-share liquefaction (Shell interest 67.5%), Gorgon Trains 1-3 kilometres off Australia’s north-west coast capacity currently in operation in Australia, (25%) and Wheatstone (6.4%). We are (see also page 10). Prelude FLNG is the Brunei, Malaysia, Nigeria, Oman, Qatar also assessing additional future options fi rst of what we expect to be multiple Shell and Russia. Qatargas 4, a joint venture with more than 20 mtpa of capacity, with FLNG projects, and builds on our existing between Qatar Petroleum (70%) and Shell projects involving: Arrow Energy; Gorgon capability and LNG leadership. (30%), was brought on-stream in early Train 4; the Browse and Greater Sunrise 2011 with a single mega-train delivering fi elds offshore Australia; the Abadi fi eld of GTL approximately 7.8 mtpa of LNG and a Indonesia; and LNG Canada. Almost 40 years ago, Shell began peak production of 280 thousand boe/d. researching how to convert natural gas The project opened up new markets for In February 2013, Shell agreed to acquire into liquid fuels, lubricants and chemical Qatari LNG in China and Dubai, with part of Repsol S.A.’s LNG portfolio, feedstocks. In 1993, this gas-to-liquids agreements signed in 2008. Our total including supply positions in Peru and (GTL) technology became a commercial LNG sales volume in 2012 was 20.2 Trinidad & Tobago, for a cash consideration reality when the Shell Middle Distillate million tonnes – up 7% from 2011. This of $4.4 billion. Shell will also assume and Synthesis plant started up in Bintulu, increase mainly refl ected the increase in consolidate $1.8 billion of balance sheet Malaysia. In total, Shell has fi led more than sales volumes from Qatargas 4 and the liabilities predominantly refl ecting leases 3,500 patents covering all stages of the Pluto LNG Project. Sales volumes were also for LNG ship charters. GTL process.

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à The Rock River Wind Farm in Wyoming, USA, is one of Shell WindEnergy’s 10 joint- venture projects.

We used our proprietary technology and operational experience with GTL to build Pearl, Shell’s and Qatar Petroleum’s massive plant in Qatar. Ten times bigger than the Bintulu plant, Pearl is the world’s largest GTL plant and one of the largest industrial developments in the world.

Pearl achieved full production at 90% or higher on both trains at the end of 2012, INSTALLED WIND CAPACITY marking the completion of the ramp-up for WIND MW, Shell share this fl agship project. The plant delivered its 600 100th cargo in December and produced Shell WindEnergy has strong operational GTL Jet fuel, the fi rst new aviation fuel to be and development capabilities, with 10 500 approved globally in over two decades. joint-venture projects: eight in North Pearl is currently producing and selling all America and two in Europe (Shell share of 400 products (GTL gasoil, GTL naphtha, normal total capacity is approximately 50%). The paraffi ns, GTL base oil and GTL kerosene) projects’ generating capacity totals about 300 from its product slate. 1,000 megawatts – enough electricity to meet the annual requirements of 300,000 200 At peak production capacity, Pearl takes homes. Generating that amount of 320 thousand boe/d of gas and turns it electricity with conventional power plants 100 into 140 thousand boe/d of GTL products would have emitted about 3 million tons of 0 and 120 thousand boe/d of natural gas CO2. Almost 900 MW of the total capacity liquids and ethane. This amounts to almost came from the 722 wind turbines of the 2008 2009 2010 2011 2012 USA 8% of Shell’s worldwide production, eight US projects. Europe making it the company’s main engine for growth in 2012. Over its lifetime, Pearl will process about three billion boe from the world’s largest single non-associated gas fi eld, the North Field, which contains more than 900 tcf of gas.

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EUROPE

HIGHLIGHTS § Shell has been a leading player in the North Sea for several decades, and is also the operator of the NAM joint venture, the largest hydrocarbon producer in the Netherlands. § Production in Europe amounted to about 800 thousand boe/d in 2012, and we invested about $3 billion in 2012 for sustainable production in the future. § After-tax earnings from the oil and gas exploration and production operations of our subsidiaries and equity-accounted investments in the region were $4.2 billion. § We are participating in the development of the Clair Phase 2 and Schiehallion Redevelopment projects in the UK, and the Corrib project in Ireland. We have increased our stakes in the offshore Beryl, Schiehallion and Draugen ﬁ elds.

KEY FIGURES 2012 % of total Total production (thousand boe/d) [A] 790 24% á A new well is drilled by NAM, the largest Liquids production (thousand b/d) [A] 219 15% hydrocarbon producer in the Netherlands. Natural gas production (million scf/d) [A] 3,311 35% Gross developed and undeveloped acreage (thousand acres) 14,935 6% Proved oil and gas reserves excluding non-controlling interest (million boe) [B] 3,236 24% UNITED KINGDOM [A] Available for sale. We operate a signifi cant number of our [B] Includes proved reserves associated with future production that will be consumed in operations. interests on the UK Continental Shelf on behalf of a 50:50 joint venture with DENMARK NORWAY ExxonMobil. Most of our UK oil and gas We hold a non-operating interest in a We are a partner in more than 20 production comes from the North Sea. We producing concession covering the majority production licences on the Norwegian hold various non-operated interests in the of our activities in Denmark. The concession continental shelf and are the operator in six Atlantic Margin area, principally in the was granted in 1962 and will expire in of these, including the Ormen Lange gas West of Shetlands area. We have increased 2042. Our interest reduced to 36.8% from fi eld (Shell interest 17%) and the Draugen our interest in the non-operated Schiehallion 46% in July 2012, when the government oil fi eld, where we increased our interest to fi eld to 55%, and in the Beryl area fi elds, entered the partnership with a 20% interest 44.6%. We have interests in the Troll, Gjøa, with interests ranging from 25% to 66%. and the government profi t share of 20% and Kvitebjørn fi elds, and have further was abolished. interests in the Valemon fi eld development REST OF EUROPE and various other potential development Shell also has interests in Albania, Austria, IRELAND assets. Germany, Greece, Hungary, Italy, We are the operator of the Corrib Gas Slovakia, Spain and Ukraine. project (Shell interest 45%), which is currently at an advanced stage of construction. At peak production, Corrib is CAPEX PRODUCTION expected to supply a signifi cant proportion $ billion million boe/d of the Ireland’s natural gas needs. 3.0 1.0

THE NETHERLANDS 2.5 0.8 Shell and ExxonMobil are 50:50 shareholders in Nederlandse Aardolie 2.0 Maatschappij B.V. (NAM), the largest 0.6 hydrocarbon producer in the Netherlands. 1.5 An important part of NAM’s gas production 0.4 comes from the onshore Groningen gas fi eld, 1.0 in which the Dutch government has a 40% 0.2 interest, with NAM holding the remaining 0.5 60%. NAM also has a 60% interest in the Schoonebeek oil fi eld, which has been 0 0 redeveloped using enhanced oil recovery 2010 2011 2012 2010 2011 2012 2017–18 United Kingdom United Kingdom The Netherlands (EOR) technology. NAM also operates a Norway Norway Asset sales 2010–2012 signifi cant number of other onshore gas fi elds Denmark Denmark Production outlook 2017–2018 and offshore gas fi elds in the North Sea. Other Other

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thousand boe/d in 2011. Security, crude AFRICA oil theft and ﬂ ooding in the Niger Delta were signiﬁ cant challenges in 2012.

HIGHLIGHTS Onshore § Shell is the largest international oil company in Nigeria with interests in major The Shell Petroleum Development Company onshore, offshore and LNG activities. of Nigeria Ltd (SPDC) is the operator of § Production in Africa amounted to more than 400 thousand boe/d in 2012, mostly a joint venture (Shell interest 30%) that from our operations in Nigeria. holds more than 25 Niger Delta onshore § After-tax earnings from the oil and gas exploration and production operations of our oil mining leases (OMLs), which expire in subsidiaries in the region were $3.4 billion. 2019. To provide funding, modifi ed carry § We added new exploration positions in South Africa and Tanzania in 2012. agreements are in place for certain key § We are participating in the development of the Bonga North West, Forcados Yokri projects and a bridge loan was drawn and Southern Swamp projects in Nigeria. down by the Nigerian National Petroleum Company (NNPC) in 2010. The modifi ed carry agreements are being reimbursed, and in December 2012 NNPC repaid the KEY FIGURES bridge loan with interest. New fi nancing 2012 % of total agreements with NNPC are under Total production (thousand boe/d) [A] 442 14% discussion and are expected to be put in Liquids production (thousand b/d) [A] 290 19% place during 2013. Natural gas production (million scf/d) [A] 881 9% Gross developed and undeveloped acreage (thousand acres) 35,832 13% We have a 30% interest in the Gbaran-Ubie Proved oil and gas reserves excluding non-controlling interest (million boe) [B] 1,057 8% integrated oil and gas project in Bayelsa [A] Available for sale. State, which delivered 0.9 billion scf/d [B] Includes proved reserves associated with future production that will be consumed in operations. of gas in 2012. Gas from Gbaran-Ubie is delivered to Nigeria LNG Ltd (NLNG) for export. In 2012, we sold our 30% interests in OMLs 30, 34 and 40 for a consideration of $1.1 billion.

Offshore Our main offshore deep-water activities are carried out by Shell Nigeria Exploration and Production Company (Shell interest 100%) which holds interests in three deep- water blocks. We operate two of the blocks, including the Bonga fi eld 120 kilometres offshore. Deep-water offshore activities are typically governed through production sharing contracts (PSCs). SPDC also holds an interest in six shallow-water offshore leases, of which fi ve expired on November 30, 2008. However, SPDC satisfi ed all the requirements of the Nigerian Petroleum Act to be entitled to an extension. Currently, the á A fl oating production storage and offl oading vessel at the Bonga fi eld, 120 kilometres offshore Nigeria. status quo is maintained following a court order issued on November 26, 2008. SPDC is pursuing a negotiated solution with the EGYPT GABON federal government of Nigeria. Production We have a 50% interest in the Badr We have interests in eight onshore permits from the EA fi eld, in one of the disputed El-Din Petroleum Company (Bapetco), a (one mining concession and seven PSCs), leases, continued throughout 2012. joint venture with the Egyptian General and three offshore exploration permits in Petroleum Corporation. Bapetco carries out addition to one of the two country export LNG fi eld operations in the West Desert, where terminals. Two of the non-operated permits Shell has a 25.6% interest in NLNG, we have interests in the BED, NEAG, NEAG (Coucal and Avocette) have been converted which operates six LNG trains with a total Extension, West Sitra, Sitra, Obaiyed into PSCs as of January 1, 2011. capacity of 22 mtpa. NLNG continued and Alam El Shawish West concession production near full capacity during 2012. areas. In addition, we have interests in NIGERIA two BP-operated offshore concessions: Shell-share production in Nigeria was REST OF AFRICA North Damietta Offshore and North Tineh approximately 365 thousand boe/d in Shell also has interests in Benin, Ghana, Offshore. 2012 compared with approximately 385 Libya, South Africa, Tanzania and Tunisia.

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IRAQ ASIA (INCLUDING MIDDLE EAST AND RUSSIA) We have a 45% interest in the Majnoon oil fi eld that we operate under a technical service contract that expires in 2030. The HIGHLIGHTS other Majnoon shareholders are Petronas § Shell is the industry leader in integrated gas in Asia, with a major LNG portfolio (30%) and the Iraqi government (25%), across the region and the world’s largest GTL plant in Qatar. which is represented by the Missan Oil § We are active in our existing heartlands of Malaysia and Brunei, and are investing Company. Majnoon is located in southern for growth in China. Iraq and is one of the world’s largest oil § Production in Asia amounted to more than 1.1 million boe/d in 2012. fi elds. The fi rst phase of the development § After-tax earnings from the oil and gas exploration and production operations of our is planned to bring production to subsidiaries and equity-accounted investments in the region were $5.8 billion. approximately 175 thousand b/d from the § We are participating in the development of nine key projects in the region: Amal level of 45 thousand b/d when the contract in Oman; SAS and Bab Thamama G/Bab Habshan-2 in the United Arab Emirates; entered into effect in March 2010. We Gumusut-Kakap, Petai, Malikai and Sabah Gas Kebabangan in Malaysia; Kashagan also hold a 15% interest in the West Qurna Phase 1 in Kazakhstan; and Majnoon FCP in Iraq. 1 fi eld. At the end of 2012, production was approximately 460 thousand b/d. According to the provisions of both contracts, Shell’s equity entitlement volumes KEY FIGURES will be lower than the Shell interest implies. 2012 % of total Total production (thousand boe/d) [A] 1,126 35% In 2012, Shell continued to work in Liquids production (thousand b/d) [A] 652 44% establishing the Basrah Gas Company, Natural gas production (million scf/d) [A] 2,752 29% a joint venture between Shell (44%), the Gross developed and undeveloped acreage (thousand acres) 80,449 30% South Gas Company (51%) and Mitsubishi Proved oil and gas reserves excluding non-controlling interest (million boe) [B] 4,517 33% Corporation (5%). The Basrah Gas [A] Available for sale. Company will gather, treat and process [B] Includes proved reserves associated with future production that will be consumed in operations. raw gas produced from the Rumaila, West Qurna 1 and Zubair fi elds. Currently, BRUNEI and production in the Fushun Yongchuan an estimated 700 million scf/d of gas is Shell and the Brunei government are 50:50 block (Shell interest 49%), both in Sichuan. fl ared because of a lack of infrastructure shareholders in Brunei Shell Petroleum Shell and PetroChina are also assessing to collect and process it. The processed Company Sendirian Berhad (BSP). BSP opportunities in coalbed methane in the natural gas and associated products, such holds long-term oil and gas concession Ordos Basin. as condensate and liquefi ed petroleum gas rights onshore and offshore Brunei, and (LPG), will be sold primarily to the domestic sells most of its natural gas production to In 2012, Shell became a party to the Zitong market with the potential to export any Brunei LNG Sendirian Berhad (BLNG, Shell PSC for tight gas exploration, development surplus. interest 25%). BLNG was the fi rst LNG plant and production in Sichuan (Shell interest in the Asia-Pacifi c region, and sells most of 44.1%). Shell has agreed with Chinese KAZAKHSTAN its LNG on long-term contracts to customers National Offshore Oil Corporation to We have a 16.8% interest in the offshore in Asia. appraise and potentially develop two Kashagan fi eld, where the North Caspian offshore oil and gas blocks in the Yinggehai Operating Company is the operator. This We are the operator for the Block A Basin under a PSC signed in July 2012 shallow-water fi eld covers an area of concession (Shell interest 53.9%), which (Shell interest 49%). approximately 3,400 square kilometres. is under exploration and development. Phase 1 development of the fi eld is We have a 35% interest in the Block B INDONESIA expected to lead to plateau production concession, where gas and condensate are We have a 30% participating interest in the of approximately 300 thousand boe/d, produced from the Maharaja Lela Field. offshore Masela block where INPEX Masela increasing further with additional phases of In addition, we have a 12.5% interest in is the operator. The Masela block contains development. NC Production Operations exploration Block CA-2 under a PSC. the Abadi gas fi eld. The operator has Company, a joint venture between currently selected a fl oating LNG (FLNG) Shell and KazMunayGas, will manage CHINA concept for the fi eld’s fi rst development production operations. First production is We operate the onshore Changbei tight-gas phase. expected to start in 2013. fi eld under a PSC with PetroChina. The PSC was amended in July 2012 for developing IRAN We have an interest of 55% in the Pearls tight gas in different geological layers of In compliance with international sanctions PSC, covering an area of approximately the same block. Shell and PetroChina have against Iran Shell halted its upstream 900 square kilometres located in the also agreed to appraise, develop and commercial activities in Iran in 2010 and Kazakh sector of the Caspian Sea that produce tight gas in the Jinqiu block under ceased buying oil from Iran in the fi rst includes two oil discoveries (Auezov and a PSC that expires in 2040 (Shell interest quarter of 2012. Khazar) and several exploration prospects. 49%), and signed a PSC in March 2012 for shale-gas exploration, development

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ß The Kashagan ﬁ eld offshore Kazakhstan is a 300 thousand boe/d high sulphur development. Shell will be the operator from ﬁ rst production.

MALAYSIA SK319 and SK408, all offshore Sarawak, 1.6 billion scf/d of wellhead gas from We produce oil and gas located offshore and SB311, offshore Sabah. Qatar’s North Field with installed capacity Sabah and Sarawak under 19 PSCs, in of around 140 thousand boe/d of GTL and which our interests range from 30% to 85%. We also operate a GTL plant (Shell interest 120 thousand boe/d of NGL and ethane. 72%), which is adjacent to the Malaysia Ramp-up of the project was completed In Sabah we operate four producing LNG facilities in Bintulu. Using Shell in the fourth quarter of 2012. The plant offshore oil fi elds with interests ranging from technology, the plant converts natural gas delivered its 100th cargo in mid-December 50% to 80% as part of the 2011 North into high-quality middle distillates, drilling and produced GTL Jet fuel, with its fi rst Sabah EOR PSC and SB1 PSC (the latter fl uids, waxes and other speciality products. commercial market introduction in January expired at the end of December 2012). We 2013. also have additional interests ranging from OMAN 30% to 50% in PSCs for the exploration We have a 34% interest in Petroleum We have a 30% interest in Qatargas 4, and development of fi ve deep-water blocks. Development Oman (PDO), the operator which comprises integrated facilities to These include the unitised Gumusut-Kakap of an oil concession expiring in 2044. In produce approximately 1.4 billion scf/d deep-water fi eld (Shell interest 33%) and 2012, production began at its Harweel of natural gas from Qatar’s North Field, an the Malikai fi eld (Shell interest 35%). Both EOR project, which is expected to produce onshore gas-processing facility and an LNG these fi elds are currently being developed approximately 30 thousand boe/d at peak train with a collective production capacity with Shell as the operator. production. We are also participating in of 7.8 mtpa of LNG and 70 thousand the development of the Mukhaizna oil fi eld boe/d of NGL. The train delivered its fi rst In Sarawak we are the operator of 20 gas (Shell interest 17%) where steam fl ooding, LNG in 2011 and has been operating at fi elds with interests ranging from 37.5% an EOR method, is being applied on a full capacity in 2012. The LNG is shipped to 70%. Nearly all of the gas produced is large scale. mainly to markets in North America, China, supplied to Malaysia LNG in Bintulu where Europe and the United Arab Emirates. we have a 15% interest in each of the Dua QATAR and Tiga LNG plants. We also have a 40% Pearl in Qatar is the world’s largest GTL We are the operator of Block D under the interest in the 2011 Baram Delta EOR PSC plant. Shell operates the plant under a terms of an exploration and production- and a 50% interest in Block SK-307. development and production-sharing sharing contract with Qatar Petroleum, contract with the government of Qatar. The representing the national government. In 2012, we signed fi ve new exploration fully integrated facility includes production, We have a 75% interest, with PetroChina PSCs, deep-water blocks 2B, SK318, transport and processing of approximately holding the remaining 25% interest.

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á The Majnoon oil fi eld in Iraq is one of the RUSSIA licence expires in 2014. We also have a largest in the world. We should reach We have a 27.5% interest in Sakhalin-2, 15% interest in the licence of Abu Dhabi the fi rst commercial production target of one of the world’s largest integrated oil Gas Industries Limited (GASCO), which 175 thousand boe/d in 2013. and gas projects. Located in a subarctic expires in 2028. GASCO exports propane, environment, the project produced butane and heavier-liquid hydrocarbons approximately 335 thousand boe/d that it extracts from the wet natural gas in 2012. Following optimisation of the associated with the oil produced by ADCO. LNG plant, production from its two trains exceeded 10 mtpa for the year. REST OF ASIA (INCLUDING THE MIDDLE EAST AND RUSSIA) We have a 50% interest in the Salym fi elds Shell also has interests in India, Japan, in western Siberia, where production Jordan, Kuwait, the Philippines, Saudi was approximately 155 thousand boe/d Arabia, Singapore, South Korea and during 2012. We also have a 100% Turkey. We suspended all exploration and interest in four exploration and production production activities in Syria in December licences. They are for the East Talotinskiy 2011. area in the Nenets Autonomous District, the Barun-Yustinsky block in Kalmykia and the Arkatoitsky and the Lenzitsky blocks in the Yamalo Nenets Autonomous District. We also have an exploration licence in the North-Vorkutinsky area in the Komi Republic.

UNITED ARAB EMIRATES In Abu Dhabi we hold a concessionary interest of 9.5% in the oil and gas operations run by Abu Dhabi Company for Onshore Oil Operations (ADCO). The

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and Torosa gas fi elds. During 2012, we OCEANIA increased our interest in the West Browse joint venture to 35% and in the East Browse joint venture to 25%. The Browse resources HIGHLIGHTS are being assessed for development on the § Australia is a key growth country for Shell with major investment currently underway basis of an LNG export project. to develop about 7 mtpa of LNG capacity in the next fi ve years. § We are building the world’s largest FLNG facility for the Prelude fi eld offshore In the Timor Sea we have a 26.6% interest Australia, and participating in four other key projects: Gorgon LNG Trains 1-3; North in the Sunrise gas fi eld. The joint-venture Rankin 2; North West Shelf Gas – Greater Western Flank Phase A; and Wheatstone partners have selected FLNG as the LNG. preferred development concept for Sunrise. § In 2012, the 4.3 mtpa capacity Pluto LNG Project (Shell indirect share 21%) delivered The development is subject to approval its fi rst LNG cargo. from both the Australian and Timor-Leste § Production in Oceania amounted to nearly 200 thousand boe/d in 2012. governments. § After-tax earnings from the oil and gas exploration and production operations of our subsidiaries and equity-accounted investments in the region were $3.0 billion. Shell is a partner in both Shell-operated and non-operated exploration joint ventures in multiple basins including the Bonaparte, Exmouth Plataeu, Greater Gorgon, Outer KEY FIGURES Canning and South Exmouth. We also hold 2012 % of total a 6.4% interest in the Wheatstone LNG Total production (thousand boe/d) [A] 179 5% project, which includes the construction of Liquids production (thousand b/d) [A] 45 3% two LNG trains with a combined capacity Natural gas production (million scf/d) [A] 777 8% of 8.9 mtpa. Gross developed and undeveloped acreage (thousand acres) 72,278 27% Proved oil and gas reserves excluding non-controlling interest (million boe) [B] 1,314 10% NEW ZEALAND [A] Available for sale. We have an 83.8% interest in the offshore [B] Includes proved reserves associated with future production that will be consumed in operations. Maui gas fi eld, a 50% interest in the onshore Kapuni gas fi eld and a 48% AUSTRALIA We have a 25% interest in the Gorgon LNG interest in the offshore Pohokura gas fi eld. We have interests in offshore production project, which involves the development of The gas produced is sold domestically, and exploration licences in the North some of the largest gas discoveries to date mainly under long-term contracts. Shell has West Shelf (NWS) and Greater Gorgon in Australia, beginning with the offshore interests in other exploration licence areas areas of the Carnarvon Basin, as well as Gorgon (Shell interest 25%) and Jansz-lo in the Taranaki Basin and an interest in in the Browse Basin and Timor Sea. Some fi elds (Shell interest approximately 20%). two exploration permits in the Great South of these interests are held directly and It includes the construction of a 15.3 mtpa Basin (50% and 59% interest). others indirectly through a shareholding LNG plant on Barrow Island. of approximately 23% in Woodside Petroleum Ltd (Woodside). All interests in We are the operator of a permit in the Australian assets quoted below are direct Browse Basin in which two separate gas interests. fi elds were found: Prelude in 2007, and Concerto in 2009. We are developing Woodside is the operator of the Pluto LNG these fi elds on the basis of our innovative Project which produced its fi rst LNG in FLNG technology. The Prelude FLNG 2012. Woodside is also the operator on project is expected to produce about 110 behalf of six joint-venture participants of the thousand boe/d of natural gas and NGL, NWS gas, condensate and oil fi elds, which delivering approximately 3.6 mtpa of LNG, produced more than 470 thousand boe/d 1.3 mtpa of condensate and 0.4 mtpa in 2012. Shell provides technical support of LPG. During 2012, we commenced for the NWS development. construction of the Prelude FLNG project and completed the sale of a 17.5% interest We have a 50% interest in Arrow to INPEX and a 10% interest to KOGAS. Energy Holdings Pty Limited (Arrow), We also completed the sale of a 5% interest a Queensland-based joint venture with to CPC Corporation in the fi rst quarter of PetroChina. Arrow owns coalbed methane 2013, reducing our interest to 67.5%. assets, a domestic power business and We formed a joint venture to operate the site for a proposed LNG plant on the Crux gas and condensate fi eld (Shell Curtis Island, near Gladstone. In January interest 82%). We also operate the AC/ 2012, Arrow completed the acquisition of P41 block (Shell interest 75%). coalbed methane company Bow Energy Ltd (Shell-share consideration $0.3 We are a partner in the Browse joint billion). ventures covering the Brecknock, Calliance

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Bitumen AMERICAS We produce and market bitumen in the Peace River area of Alberta, and have a steam-assisted gravity drainage project HIGHLIGHTS in operation near Cold Lake, Alberta. § Shell is adding to its established deep-water position with new fi elds in the Gulf Additional heavy oil resources and of Mexico and offshore South America. Onshore, Shell has built major acreage advanced recovery technologies are under positions in liquids-rich shales and in tight gas, and is progressing its potential for an evaluation on approximately 1,200 square integrated gas value chain. kilometres in the Grosmont oil sands area, § Production in the Americas amounted to more than 700 thousand boe/d in 2012. also in northern Alberta. § After-tax earnings from oil and gas exploration and production operations of our subsidiaries and equity-accounted investments in the region were $0.7 billion. Offshore § We are participating in the development of six key projects in North and South We have a 31.3% interest in the Sable America: AOSP Debottlenecking; BC-10 Phase 2; Cardamom; Mars B, West Boreas Offshore Energy project, a natural-gas & South Deimos; North American tight-gas projects; and North American liquids-rich complex offshore eastern Canada. We shales projects. also have a 100% operating interest in frontier deep-water acreage offshore Nova Scotia, a 20% non-operating interest in an exploration asset off the east coast KEY FIGURES of Newfoundland, and a number of 2012 % of total exploration licences in the Mackenzie Delta Total production (thousand boe/d) [A] 725 22% in the Northwest Territories. Liquids production (thousand b/d) [A] 282 19% Natural gas production (million scf/d) [A] 1,728 18% UNITED STATES OF AMERICA Synthetic crude oil production (thousand b/d) [A] 125 4% We produce oil and gas in the Gulf of Bitumen production (thousand b/d) [A] 20 1% Mexico, heavy oil in California and Gross developed and undeveloped acreage (thousand acres) 65,479 24% primarily tight gas and associated liquid Proved oil and gas reserves excluding non-controlling interest (million boe) [B] 3,432 25% hydrocarbons in Louisiana, Pennsylvania, [A] Available for sale. Texas and Wyoming. The majority of [B] Includes proved reserves associated with future production that will be consumed in operations. our oil and gas production interests are acquired under leases granted by the NORTH AMERICA drilling programmes and investment in owner of the minerals underlying the infrastructure facilitating new production. relevant acreage (including many leases CANADA for federal onshore and offshore tracts). We hold more than 2,200 mineral leases Synthetic crude oil Such leases usually run on an initial fi xed in Canada, mainly in Alberta and British We operate the Athabasca Oil Sands term that is automatically extended by the Columbia. We produce and market Project (AOSP) in north-east Alberta as part establishment of production for as long as natural gas, natural gas liquids (NGLs), of a joint venture (Shell interest 60%). The production continues, subject to compliance synthetic crude oil and bitumen. In AOSP’s bitumen production capacity is 255 with the terms of the lease (including, in the addition, we hold signifi cant exploration thousand boe/d. The bitumen is transported case of federal leases, extensive regulations acreage offshore. Bitumen is a very heavy by pipeline for processing at the Scotford imposed by federal law). crude oil produced through conventional Upgrader, which is operated by Shell and methods as well as through enhanced located in the Edmonton area, Alberta. The Gulf of Mexico oil-recovery methods. Synthetic crude oil fi rst phase of the AOSP Debottlenecking The Gulf of Mexico is the major production is produced by mining bitumen-saturated project comes online in 2013, and is area in the USA, accounting for almost sands, extracting the bitumen from the expected to add an additional 10 thousand 50% of Shell’s oil and gas production sands, and transporting it to a processing boe/d at peak production. We also took in the country. We have approximately facility where hydrogen is added to the fi nal investment decision on the Quest 420 federal offshore leases in the Gulf produce a wide range of feedstocks for Carbon Capture and Storage project of Mexico, about one-fi fth of which are refi neries. (Shell interest 60%), which is expected to producing. Our share of production in capture and permanently store more than the Gulf of Mexico averaged almost 190

Gas and liquids-rich shale 1 mtpa of CO2 from the Scotford Upgrader thousand boe/d in 2012. Key producing We hold rights to more than 10,000 underground. assets are Auger, Brutus, Enchilada, Mars, square kilometres of conventional gas, NaKika, Perdido, Ram-Powell and Ursa. tight gas and liquids-rich shale acreage. Shell also holds a number of other minable We own and operate four natural gas oil sands leases in the Athabasca region We continued to grow our presence in the processing and sulphur-extraction plants with expiry dates ranging from 2018 to Gulf of Mexico, with the addition of two in southern and south-central Alberta. 2025. By completing a certain minimum drilling rigs to our contracted offshore ﬂ eet During 2012, we continued to develop level of development prior to their expiry, in 2012. We also secured 24 blocks in the conventional gas, tight gas and liquids- leases may be extended. 2012 central lease sale for a sum of $400 rich shale ﬁ elds in west-central Alberta million. and east-central British Columbia, through

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ß The Athabasca Oil Sands Project in north-east Alberta, Canada, has a bitumen production capacity of 255 thousand boe/d.

SOUTH AMERICA

BRAZIL We are the operator of several producing fi elds offshore Brazil. They include the Bijupirá and Salema fi elds (Shell interest 80%) and the BC-10 fi eld (Shell interest 50%). We also operate one offshore exploration block in the Santos basin, BMS-54 (Shell interest 80%).

We have interests in two offshore exploration blocks in the Espirito Santo basins, BMES-23 and BMES-27, with Onshore Joaquin Valley and Los Angeles Basin areas interests of 20% and 17.5% respectively. We hold more than 15,000 square of southern California. Aera operates more Shell also operates ﬁ ve blocks in the São kilometres of tight-gas and liquids-rich than 15,000 wells, producing about 130 Francisco onshore basin area. In 2012, we shale acreage. This includes signiﬁ cant thousand boe/d of heavy oil and gas. divested our 40% interest in the offshore holdings in the Marcellus shale, centred Block BS-4 in the Santos basin. on Pennsylvania in northeastern USA, Alaska the Eagle Ford shale formation in south We hold more than 410 federal leases for We also hold an 18% interest in Brazil Texas, the Sand Wash and Niobrara exploration in the Beaufort and Chukchi Companhia de Gas de São Paulo Shale in north-west Colorado, as well as seas in Alaska. During the 2012 drilling (Comgás), a natural gas distribution the Mississippi Lime formation in south- season, we drilled two exploratory wells, company in the state of São Paulo. central Kansas. In 2012, we also acquired one each in the Beaufort and Chukchi approximately 2,200 square kilometres seas. These wells are known as top holes FRENCH GUIANA of mineral rights, with an additional 300 as they do not go deep enough to reach We are the operator of an exploration square kilometres linked to contractual hydrocarbon reservoirs. After drilling they block in the 24,000 square kilometre conditions, in the Delaware Permian Basin were safely capped in accordance with deep-water Guyane Maritime Permit (Shell in west Texas. regulatory requirements. interest 45%).

California REST OF NORTH AMERICA REST OF SOUTH AMERICA We hold a 51.8% interest in Aera Energy Shell also has interests in Greenland and Shell also has interests in Argentina, LLC (Aera), which holds assets in the San Mexico. Colombia, Guyana and Venezuela.

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HIGHLIGHTS § Inaugurated the expansion of our joint-venture refi nery in Port Arthur, Texas, more than doubling crude oil distillation capacity there to 620 thousand b/d. It is fl exible, able to process many types of crude oil and vary the mix of fi nal products based on demand. § In Australia, the Clyde refi nery was converted to a terminal. § Optimised ethylene delivery in Supply and distribution, resulting in a 20% increase in throughput capacity and improved operating fl exibility. § Continued to demonstrate innovation in fuels technology and superior customer experience in Retail with the fi rst launch of Shell V-Power Nitro+, which is now available in six countries. In China we also had the fi rst launch of Shell V-Power in Tianjin province and signed an agreement with China Union Pay to enable faster and more convenient payment options. § Making good progress with the Raízen biofuels joint venture in Brazil, which has a 35 thousand b/d ethanol production capacity. In its fi rst full year of operations, Raízen contributed more than 10% to our 2012 Oil products earnings. § Bought the remaining shares in Gasnor, a Norwegian supplier of LNG for shipping and trucking. It gives us a foothold in a growing market for cleaner-burning gas as a transport fuel. § Entered into an agreement with joint venture partners to purchase assets at the Coryton refi nery in Essex and worked with our partners to develop a state-of-the-art import and distribution terminal. This investment will support growth in our UK retail business, which acquired 253 retail sites in 2011. § Agreed to acquire Neste Oil Corporation’s network of 105 retail sites in Poland. These sites are unmanned and located in major cities throughout the country. § Progressed the proposed world-scale petrochemicals project in Ras Laffan Industrial City in Qatar by awarding, with venture partner Qatar Petroleum, the front-end engineering and design contract. § Agreed with our partner SABIC to expand Sadaf, our long-standing Chemicals joint venture in Saudi Arabia – including proposed construction of new derivative units.

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KEY STATISTICS 2012 2011 2010 2009 2008 MANUFACTURING Downstream CCS earnings ($ million) Oil products 3,959 2,235 1,439 (58) 5,153 We have interests in more than 30 refi ning Chemicals 1,391 2,054 1,511 316 156 sites worldwide. Together they have the Total Downstream earnings ($ million) [A] 5,350 4,289 2,950 258 5,309 capacity to process approximately 3.4 Total Downstream earnings excluding identifi ed items million barrels of oil per day into a wide ($ million) 5,311 4,274 3,873 1,940 5,744 range of products including gasoline, Downstream cash fl ow from operations ($ million) [B] 8,028 8,746 8,138 5,839 1,750 diesel, heating oil, aviation fuel, marine Oil products sales volumes (thousand b/d) 6,235 6,196 6,460 6,156 6,568 Chemicals sales volumes (thousand tonnes) 18,669 18,831 20,653 18,311 20,327 fuel, lubricants, liquefi ed petroleum gas, Refi nery processing intake (thousand b/d) 2,819 2,845 3,197 3,067 3,388 sulphur and bitumen. About 40% of our Refi nery availability (%) 93 92 92 93 91 refi ning capacity is in Europe and Africa, Chemical plant availability (%) 91 89 94 92 94 35% in the Americas and 25% in Asia- Downstream net capital investment ($ million) 4,275 4,342 2,358 6,232 3,104 Pacifi c. Downstream capital employed ($ million) 71,889 71,976 67,287 62,632 54,050 Downstream employees (thousands) 48 51 59 62 64 We focus on effi ciency improvements at [A] With effect from 2010, Downstream segment earnings are presented on a current cost of supplies (CCS) our refi neries and petrochemicals plants. basis. Comparative information is consistently presented. These improvements have contributed to [B] Excludes working capital movements. a reduction in greenhouse gas emissions. Achieving even greater effi ciency and operational reliability will help us improve DOWNSTREAM CCS EARNINGS [A] DOWNSTREAM ORGANIC CAPITAL INVESTMENT profi tability. The average availability of our $ billion $ billion refi neries, a measure of their operational 9 8 excellence, was 93% in 2012.

8 A key part of our strategy is to divest non- 7 6 core assets while selectively investing in 6 high-growth markets, especially in Asia.

5 We have retained the larger and more 4 integrated refi neries, and the current 4 portfolio is positioned for optimisation 3 across the entire value chain. Major asset 2 2 sales have been completed, but we will continue to review the portfolio regularly 1 and improve it further where necessary. 0 0 2008 2009 2010 2011 2012 2012 2013 We aim to create a Downstream portfolio Oil products Base Chemicals Growth that is more focused on larger, integrated refi ning and petrochemical sites that are better able to respond to tighter fuel =#?'ZENWFKPIKFGPVKƂGFKVGOU specifi cations and growth opportunities. The Port Arthur refi nery in Texas will have a

REFINING CAPACITY million b/d Shell share

5

4

3

2

1

0 2002 2006 2009 2012 Europe and Other Americas #UKC2CEKƂE

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à On average, Shell Aviation refuels a plane every 12 seconds.

prominent place in that portfolio. It is part deliveries and made the best use of vehicle Shell Bitumen supplies on average of the Motiva Enterprises joint venture (Shell availability. We also continue to look at 11,000 tonnes of products every day to interest 50%) and the largest refi nery in the opportunities to manage stock levels more 1,600 customers worldwide and invests USA. The expansion brings an additional effi ciently in response to changes in market in technology research and development 320 thousand b/d of capacity online in conditions. to create innovative, award-winning the US Gulf Coast region (increasing the new products. We are one of the largest refi nery’s total capacity to 620 thousand premium grade bitumen suppliers in b/d) and will be capable of handling most China and the only international bitumen grades of crude oil. New technology will BUSINESS TO supplier for the country’s high-speed also lower most types of emissions from the railway sector. We have also developed refi nery on a per-barrel basis. BUSINESS (B2B) innovative bitumen products that can be mixed and laid at temperatures lower than We sell fuels and speciality products and conventional asphalt to reduce energy use

services to a broad range of commercial and CO2 emissions. SUPPLY AND customers. Shell Sulphur Solutions has developed DISTRIBUTION Shell Aviation provides fuel every day a dedicated sulphur business to manage for about 7,000 aircraft at more than the complete value chain of sulphur A network of about 150 distribution 800 airports in more than 35 countries. – from refi ning to marketing. The business facilities with more than 1,500 storage Customers range from private pilots to the provides sulphur for industries such as tanks in about 25 countries delivers largest global airlines and airports. Shell mining and textiles and develops new feedstocks to our refi neries and chemical Aviation has been named Best Aviation Fuel products which incorporate sulphur. plants, as well as fi nished products to Provider in the Emerging Markets Aviation our Marketing businesses and customers Awards for the last three years, recognising Shell Gas (LPG) provides liquefi ed worldwide. We move products in Europe, the business’s safe and reliable supply petroleum gas and related services to retail, the USA and other parts of the world of products and services to customers in commercial and industrial customers for through 9,000 kilometres of onshore and emerging markets. cooking, heating, lighting and transport. offshore pipelines. Our global fl eet of about 2,400 Shell-owned or contracted trucks Shell Commercial Fuels provides Shell marine activities supply fuel travels approximately 860,000 kilometres transport fuels, heavy fuel oils and heating and more than 100 grades of lubricants every day, making a delivery somewhere in fuels in bulk to 5,000 customers in 20 for marine vessels powered by diesel, the world every 13 seconds. countries. Our customers include those steam turbine and gas turbine engines. in the transport, mining, manufacturing, We provide marine lubricants to more than Through various means, we have power generation and home energy 15,000 vessels worldwide, ranging from systematically reduced the cost and time sectors. large ocean-going tankers, container ships of deliveries. We have adopted fuel- and dry bulk carriers, to offshore drilling saving driving techniques, made larger vessels and small fi shing boats.

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RETAIL LUBRICANTS LNG FOR

Our branded fuel retail network is the The 10th annual Kline & Company report TRANSPORT world’s largest, with about 44,000 service on the global lubricants sector confi rmed stations in more than 70 countries. Our that Shell maintained its volume and As a transport fuel, LNG has the potential experience in fuel development, over branded leadership position, with a 13% to provide economic and environmental more than 100 years, underpins our market share (source: Kline & Company, benefi ts to operators of large trucks, ships position today as a leading provider of 2012). In 2012, Shell Lubricants received and trains. Ocean-going LNG carrier ships innovative fuels. Differentiated fuels with the inaugural European Customer Value have been using it as a fuel for more than unique formulations designed to improve Enhancement Award for automotive 45 years, and we are now bringing its performance are available in more than lubricants from market analysts Frost & benefi ts to other types of transport. When 60 countries under the Shell V-Power brand. Sullivan. used as a fuel, LNG can lower emissions of In 2009, we launched Shell FuelSave sulphur, particulates and nitrogen oxides. fuels. These products are now available We make and sell a wide variety of Its energy density gives distance ranges that in 18 countries. Shell also sells Shell Fuel lubricants to meet customer needs across transport operators need, and it could help Economy, our formula for petrol and diesel a range of applications. These include reduce fuel bills. in about 20 countries where Shell FuelSave consumer motoring, heavy-duty transport, has not yet been launched. mining, power generation and general In March 2013, we announced a series engineering. Shell also owns Jiffy Lube® of developments. Our fi rst LNG refuelling Shell has a close technical partnership franchised service centres in North station for trucks in Canada opened in with Scuderia Ferrari. Our fuel has helped America. Calgary, Alberta. It is supplied with LNG the Ferrari motor racing team to achieve by a third party, but we will provide our 10 Formula One World Constructors’ and Our lubricants are marketed in own LNG once a liquefaction plant is 12 World Championship Drivers’ titles. approximately 100 countries. We have operational at our Jumping Pound natural This partnership enables our scientists and leading positions in both mature and gas facility, 30 kilometres west of Calgary. engineers to develop cutting-edge fuel emerging markets. We are investing in technologies for the racetrack that can then our supply chain, especially in emerging In the same month, we also announced be transferred to road fuels for the benefi t of markets. We plan to build new blending the fi nal investment decision for two other our customers. plants in Indonesia and Northern China, small-scale gas liquefaction units (0.25 recently opened our 18th and largest mtpa) in North America that will supply We continued to invest in selected retail grease plant in Southern China, and LNG to fuel ships, trucks and industrial markets. In 2012, we agreed to acquire started construction of a new base oil customers. One plant will be at our Neste Oil Corporation’s network of 105 manufacturing plant in South Korea this chemical facility in Geismar, Lousiana, unmanned retail sites in Poland. In 2011, year. We also recently had the commercial supplying the Gulf Coast region, with the we acquired 253 retail sites in the UK, start-up of a blending plant in Russia. other at our manufacturing centre in Sarnia, primarily in central and south-east England. Ontario, Canada, supplying the Great We have leading lubricants research Lakes region. centres in Germany, Japan (through a joint BRANDED RETAIL SITES venture with Showa Shell), the UK and the In the same month Shell launched a tank thousand, per year-end USA. barge in the Netherlands powered entirely 50 by LNG, the fi rst of two it has chartered. They will be part of the development of a new European LNG marine fuel industry 40 with the potential to power inland barges, ferries, tugs and cruise ships. 30 Shell’s acquisition in 2012 of Gasnor, 20 a Norwegian LNG fuel company that supplies marine and industrial customers, is another example of Shell’s investment in this 10 growth area.

0 2008 2009 2010 2011 2012 Americas #UKC2CEKƂE Europe Other

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In Qatar, Shell and Qatar Petroleum have CHEMICALS awarded the front-end engineering and BIOFUELS design contract for a proposed world- We have more than 80 years of experience scale petrochemicals project (Shell interest The international market for biofuels is in the chemicals industry, and produce and 20%) in Ras Laffan Industrial City. The growing, driven largely by the introduction sell petrochemicals to more than 1,000 scope includes a capacity of 1.5 mtpa of new energy policies in Europe and the industrial customers worldwide. Our range of mono-ethylene glycol and 0.3 mtpa USA that call for more renewable, lower- of petrochemicals includes base chemicals, of linear alpha oleﬁ ns. We are also carbon fuels for transport. Sustainable such as ethylene, propylene and aromatics; developing plans to build a potential world- biofuels are expected to play an and ﬁ rst-line derivatives, such as styrene scale ethylene cracker with integrated increasingly important role in helping to

monomer, propylene oxide, solvents, polyethylene derivative units in the meet customers’ fuel needs and reduce CO2 detergent alcohols, and ethylene oxide. Appalachian region in the north-east of the emissions. Our customers, many of them leading USA. In 2012, we agreed with our partner companies in their own fi elds, use these SABIC to expand Sadaf, our long-standing Shell has a 30-year history of biofuel products to make everyday items, such joint venture in Saudi Arabia, including the development and investment. The as plastics, detergents, textiles, medical proposed construction of new derivative production, purchase, trading, storage, equipment and computers. In total, we units. blending and distribution of biofuels are sold more than 18 million tonnes of bulk part of our everyday business. We are petrochemicals in 2012. one of the world’s largest distributors of biofuels, and we continue to build capacity Over many decades we have developed TRADING in conventional biofuels that meet our the proprietary technologies, processes corporate and social responsibility criteria. and catalysts that enable Shell to compete Shell Trading is a global organisation strongly in our core petrochemical markets. comprising a network of separate entities In 2011, Shell and Cosan launched For example, our OMEGA technology that sell crude oil to a wide range of the Raízen biofuels joint venture (Shell converts ethylene to ethylene oxide, customers within and outside Shell. The interest 50%) in Brazil for the production which is used to make a wide range of entities also trade natural gas, LNG and of ethanol, sugar and power, as well as industrial and consumer products, including power around the world. Their supply the supply, distribution and retailing of polyester fi lms and fi bres, engine coolants portfolio includes the largest equity share transport fuels. With an annual production and antifreeze. It is considered the most of LNG of any international oil company. capacity of more than 2 billion litres per effi cient technology of its kind, using about These entities share knowledge and year (35 thousand barrels per day) of 20% less steam and producing about 30% best practice, use common systems and ethanol from sugar cane, Raízen is one of less waste water than traditional thermal controls, and manage the risks associated the world’s largest ethanol producers. The conversion mono-ethylene glycol (MEG) with international trading in a competitive deal marked Shell’s fi rst move into the mass technology with the same capacity. The environment. Shell Trading supports Shell’s production of biofuels and its fi rst full year technology also produces signifi cantly less Upstream and Downstream businesses by of operations. In 2012, Raízen contributed carbon dioxide per tonne of MEG than trading natural gas, LNG, electrical power, over 10% to our 2012 oil products conventional processes. crude oil, refi ned products, chemical earnings. feedstocks and environmental products. It In Singapore, we are building a also manages a shipping fl eet of more than Ethanol produced from sugar cane in demonstration unit to manufacture the 50 ocean-going vessels. Brazil is the most sustainable and cost- chemical ingredient diphenyl carbonate, a competitive of today’s biofuels. It can

versatile engineering plastic used in a wide Shell Trading companies operate out reduce net CO2 emissions by up to 70% and growing variety of applications, from of a variety of locations, including compared with gasoline. We recognise optical media equipment, household items Dubai, Houston, London, Rotterdam and the sustainability challenges associated and automotive components, to electronics, Singapore. Two major Shell Trading with some biofuels and are working to sheeting and ﬁ lms. business units concentrate their operations ensure that the feedstocks and conversion in Europe and North America. Shell Energy processes for the biofuels we purchase We will continue to focus on the synergies Europe markets and trades gas, power today are as sustainable as possible.

among our petrochemical plants, refi neries and CO2 emissions allowances throughout In 2007, we introduced environmental and Upstream business to increase the Europe, serving about 7,000 customers. and social clauses into the contracts for supply of the best available feedstock for Together with its subsidiaries, Shell Energy the bio-components that we purchase for our crackers. North America trades and markets Shell’s blending. And we monitor how well our North American natural gas production, suppliers adhere to those clauses. We Our Chemicals strategy is based on benefi tting from access to power generation are also working with non-governmental selective growth at existing sites through and gas storage assets. organisations, policymakers and industry increases in capacity, improvements in coalitions to develop and promote effi ciency and integration, and robust global standards for ensuring the strengthening of our feedstock sources. It is sustainability of biofuels production. also based on securing integrated growth projects with partners and developing Advanced biofuels, which are based on technologies to convert gas to chemicals. new conversion processes for feedstock

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ß The Raízen joint venture in Brazil produces approximately 2 billion litres annually of ethanol from sugar cane – the most sustainable and cost-competitive of today’s biofuels.

such as crop waste or inedible plants, offer Shell announced its intention to sell the

the potential for improved CO2 reductions 118,000 barrel-per-day Geelong Reﬁ nery and improved fuel characteristics. Shell was in south-east Australia, as Downstream one of the ﬁ rst energy companies to invest continues to focus investment on large-scale in advanced biofuels and we continue to sites. invest in them. They will take time to reach commercial scale and government support In Marketing, Shell agreed to acquire Neste will be required to accelerate their speed of Oil Corporation’s network of 105 retail development. sites in Poland.

We have dedicated biofuels research teams Shell completed the sale of the majority of and research agreements with experts in its shareholding in downstream activities leading academic institutions across the in Botswana, Burkina Faso, Côte d’Ivoire, world. We also have technical partnerships Guinea, Kenya and Namibia, whilst the with leading companies exploring new downstream activities in Tanzania were technology platforms for the production of discontinued. The agreements form part of advanced biofuels. the divestment of Shell’s shareholding in most of its downstream activities in Africa as announced in 2011.

PORTFOLIO Shell continues to divest non-strategic Downstream positions. Divestments ACTIONS included retail stations in North America and most of our LPG activities in Asia- Shell acquired the remaining outstanding Pacifi c. shares in Gasnor AS, a market leader in Norway that supplies LNG as a transport fuel to industrial and marine customers. In Australia, refi ning operations at the 79 thousand b/d Clyde refi nery ceased. The Clyde refi nery and the Gore Bay terminal are in the process of being converted into a fuel import facility.

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The delivery of Shell’s business strategy depends on its capability to ﬁ nd oil and gas resources, to develop them into productive assets and to convert the oil and gas into marketable products. The Projects & Technology (P&T) organisation is the locus of these capabilities within Shell. It drives the research and development (R&D) underlying the inventions and know-how that Shell geoscientists and engineers need – not only today but also tomorrow. P&T executes all major projects in both Upstream and Downstream, and provides a range of technical services that help maintain operational excellence. Furthermore, it provides functional leadership in contracting and procurement as well as in safety. In total, more than 10,000 people work in P&T. We have ofﬁ ces across the globe, but our main technology hubs and technical centres are located in Europe, Asia and North America.

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dampens the uncontrolled twisting of drill INNOVATIVE pipe, making it possible to ﬁ nish wells WELL MANUFACTURING quicker and with fewer drill-bit changes. SYSTEM TECHNOLOGY Shell and China National Petroleum We also work on technologies to reduce the Corporation formed the Sirius Well In a fast-changing and highly competitive environmental footprint of our operations Manufacturing Services venture to world, technological innovation is a key and products. These are applied, for develop a highly automated well differentiator for Shell. So we have linked example, in carbon capture and storage manufacturing system aimed at

technology development to our strategic schemes to reduce CO2, or in energy- reducing drilling’s environmental objectives and the needs of our customers effi ciency programmes for our refi neries or footprint and making its logistics more and partners. And a single, integrated for our customers. manageable. R&D organisation drives it forward, bringing together in-house developments The system is based on specialisation, with external scientifi c, engineering and automation and an assembly-line commercial partnerships. This partnering, DELIVERING approach. Mobile or transportable which sometimes involves openly sharing rigs carry out certain tasks, such as results, helps to ensure a healthy infl ux of PROJECTS initiating the hole or fi nishing a well. new ideas and to speed up the deployment Each rig is designed to do its job of technology. P&T teams manage complex projects as quickly, effi ciently and safely as from design to commissioning, often in possible, with the smallest possible We continue to invest in technology for our challenging environments. The Mars B fi eld footprint. Once a rig has fi nished its Downstream business across the range of its development, for example, is the fi rst major specifi c task, it moves on to the next activities – from the refi ning of oil products deep-water brownfi eld project in the Gulf well, allowing another kind of rig to to the manufacture of bulk chemicals. For of Mexico. It will use some of the largest move into place to take the next step. example, our technology leadership in equipment and most advanced operational At any given time, multiple wells may lubricants – as a portfolio of more than systems on a tension-leg platform designed therefore be in various stages of drilling 150 patent series attests – provides a key to operate for 50 years. Constructed at and completion throughout a fi eld. The competitive advantage to help create some fi ve major locations across the globe, the rigs will be deployable to fi elds around of the most advanced oils and greases. Our platform is coming together now in Texas. the world. catalysts lie at the heart of some of the most effi cient manufacturing units for ethylene Or take our massive Prelude fl oating This kind of well manufacturing requires oxide and mono-ethylene glycol. And a facility offshore Australia, which has standardised designs and repeatable new process chemistry we are developing 3.6 mtpa LNG production capacity. Its procedures. It also relies on a has the potential to create a more construction also requires the coordination computerised system that autonomously sustainable route to diphenyl carbonate: a of engineering teams at multiple locations and continuously evaluates and controls key raw material for polycarbonates, which throughout the world. the drilling process. Such automation is used instead of glass in many products. not only lowers the cost of drilling Shell projects can be huge enterprises. but also improves safety, as it keeps As Shell seeks to grow its production on the They involve several years of design people away from hazardous areas. basis of deep-water fi elds and tight/shale and engineering effort, thousands of It furthermore provides a way to cope formations onshore, drilling safely and construction workers, and billions of with the severe shortage of trained rig effi ciently is becoming even more important dollars’ worth of materials and equipment. crews that has been an obstacle to the for Shell. We are therefore commissioning large-scale development of tight gas state-of-the-art rigs and well technologies In spite of such complexity, we are and coalbed methane resources. that comply with the highest industry constantly looking for opportunities to standards for safety and the environment. simplify and standardise project execution, The venture is making good progress; We also took the front-runner position in with the aim of improving effi ciency and its fi rst contract was signed with implementing “underbalanced” drilling reducing costs. We have also created a Australia-based Arrow Energy in 2012. techniques. Such drilling results in higher global community of project managers By the end of 2013, fi ve fi t-for-purpose infl ow rates after the well is completed. to facilitate resourcing and to build up drilling rigs and one fracturing unit That extra fl ow is particularly important in expertise through the sharing of best are expected to be deployed, and the tight/shale gas reservoirs, where – even practices. The Shell Project Academy fl eet is expected to grow to about 35 under the best of circumstances – the gas invigorates this global community. It rigs and fracturing units by 2015. The moves through the rock a thousand times provides an accredited competence venture had about 100 employees in slower than it would through conventional development programme that makes 2012. reservoirs. The successful development our project staff capable of delivering of tight/shale resources also depends sustained top-quartile performance. critically on drilling costs. Here too we have developed ways to save money without compromising safety or putting the environment at undue risk. Our soft- torque rotary drilling system, for instance,

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CONTRACTING SAFETY R&D EXPENDITURE

AND PROCUREMENT P&T is directly responsible for project Technology and innovation provide ways construction, where workers face many for Shell to stand apart from its competitors. To gain a competitive advantage within the serious safety hazards. Our responsibility They help our current businesses perform, oil and gas industry, Shell must leverage its for safety is not limited just to construction and they make our future businesses overall buying power. P&T is accountable sites, though. We are also well-positioned possible. Over the last fi ve years our for deriving value from Shell’s annual third- to help minimise the risks of process-safety spend on R&D averaged more than party spend of about $65 billion. So P&T incidents that result in leaks after a well or $1 billion annually – more than any other helps Shell subsidiaries focus on what and project is brought into operation. After all, international energy company. In 2012, how much should be bought, and at what P&T is responsible for the design of wells R&D expenditures were $1.3 billion, price. The priority is on getting the most and projects, and for setting standards that compared with $1.1 billion in 2011 and value out of purchases, not just the lowest are applicable across Shell. Our global $1.0 billion in 2010. cost. By putting its global internal demand standards and operating procedures defi ne for certain categories of goods and the controls and physical barriers we require Sustained investment in our key business services into a small number of contractual to prevent incidents. For example, our technologies pays off. The Pearl GTL plant packages in the marketplace, Shell can offshore wells are designed with at least two in Qatar, for example, is the culmination of gain in terms of safety, quality of goods and independent barriers to help mitigate the risk almost 40 years of dedicated investment services, costs and technical innovation. of an uncontrolled release of hydrocarbons. in gas-to-liquids (GTL) R&D. As a result, The selection of preferred suppliers enables We regularly inspect, test and maintain we hold some 3,500 patents related to a far closer oversight of delivery and these barriers to ensure they meet our all stages of the GTL process. And there performance, better mechanisms for quality standards. We help ensure that better is more innovation to come, with a view control and signifi cantly lower prices. technology also means safer technology. to increasing the capacity of existing GTL Such contract-management improvements, plants, reducing the cost of the catalysts

coupled with increasingly efﬁ cient We continue to strengthen the safety culture and reducing the CO2 emissions. operations and collaborative relationships among our employees and contractors. with suppliers, saved about $5 billion We expect everyone working for us to between 2010 and 2012. intervene and stop work that may appear to be unsafe. In addition to our ongoing safety The Contracting and Procurement unit awareness programmes, we hold an annual within P&T analyses the market, enabling global safety day to give workers time to it to be forward-looking in its sourcing reﬂ ect on how to prevent accidents. We strategies. In addition, the unit has a key expect everyone working for us to comply role in helping Shell subsidiaries to work with our 12 mandatory Life-Saving Rules. with contractors and suppliers who are If employees break these rules, they will economically, environmentally and socially face disciplinary action up to and including responsible. termination of employment. If contractors break the Life-Saving Rules, they can be removed from the worksite.

TOTAL RECORDABLE CASE FREQUENCY [A] RESEARCH AND DEVELOPMENT EXPENDITURE total recordable cases million working hours $ billion

5 900 6

4 800

4 3 700

2 600 2

1 500

0 400 0 03 04 05 06 07 08 09 10 11 12 Shell ExxonMobil Total BP Chevron Total recordable cases per million working hours Cumulative 2008–2012 Estimated working hours in millions

[A] Employees and contractors per million working hours; Shell-operated facilities.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 38 08-05-13 14:53 CORPORATE SEGMENT

The Corporate segment covers the non-operating activities supporting Shell. It includes Shell’s treasury organisation, its headquarters and central functions as well as its risk-management and self-insurance activities. All ﬁ nance income and expense, as well as related taxes and exchange-rate effects, are included in the Corporate segment earnings rather than in the earnings of the business segments. The Corporate segment earnings also include functional costs that have not been allocated to the other segments.

TREASURY The holdings and treasury organisation manages many of the Corporate entities and is the point of contact between Shell and the external capital markets. It is centralised in London and supported by regional centres in Singapore and Rio de Janeiro. Its daily operations include liquidity management, advising and ﬁ nancing subsidiaries and joint ventures, arranging the efﬁ cient investment of any surplus funds, transacting foreign exchange and managing Shell’s bank account infrastructure. The treasury organisation maintains Shell’s credit ratings and debt platforms, issues short- and long-term capital-market instruments and executes the Royal Dutch Shell dividend, scrip and share buyback programmes.

HEADQUARTERS AND CENTRAL FUNCTIONS Headquarters and central functions provide services to the Businesses (Upstream Americas, Upstream International, Downstream) as well as other functions. They also provide support for Shell’s shareholder-related activities. The services they provide cover the areas of ﬁ nance, human resources, legal advice, information technology, real estate, communications, health, security and government relations. They also assist the Chief Executive Ofﬁ cer and the Executive Committee. The central functions have been increasingly supported by business service centres located around the world. These centres process transactions, manage data and produce statutory reports, among other services. The majority of the headquarters and central-function costs are recovered from the Business segments. Those costs that are not recovered are retained in Corporate.

RISK AND INSURANCE At Shell, we aim to drive down the total cost of risk by using robust methodologies and processes to assess, mitigate and manage it. They include the valuation of risks so that this can be properly taken into account in decision making. It also requires the causes of losses to be analysed and understood so that they can be reduced in the future. To support this, Shell’s insurable risks are mainly aggregated and retained within insurance subsidiaries, which means that Shell self-insures most of its risk exposures. The insurance subsidiaries form a key part of the Shell’s approach to risk management. They provide insurance coverage to Shell entities, generally up to $1.15 billion per event and usually limited to Shell’s percentage interest in the relevant entity. The type and extent of the coverage is equal to that which is otherwise commercially available in the third-party insurance market.

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MAPS

EUROPE

ITALY UKRAINE

SLOVENIA CROATIA

RUSSIA

BOSNIA AND SAN MARINO HERZEGOVINA

KIEV MONTENEGRO ITALY KHARKIV

ROME ADRIATIC SEA UKRAINE Dnieper-Donetsk

NAPLES " " """ " """ Tempa Rossa Val d'Agri

TYRRHENIAN SEA

PALERMO SEA OF AZOV IONIAN SEA BLACK SEA

0100200300400km 050100150200km

ALBANIA

ALBANIA MACEDONIA

TIRANA

ADRIATIC SEA

" Shpiragu 1

ITALY

GREECE

IONIAN SEA

0 255075100km

{ Oil or mixed oil and gas project { Upstream facility { Downstream facility Shell oil pipeline Concession licences { Gas project Integrated gas facility 2012 discovery or appraisal success Shell gas pipeline

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NORTH- WEST EUROPE

" Asterix

ICELAND

" Hasselmus Linnorm " " " Draugen

Ormen Lange" "

"

"" NORWAY SWEDEN " Gjøa " " " " " " " " Kvitebjorn Brent South " " " Mongstad " Clair " " Troll " Loyal "" " "

Schiehallion " OSLO

" """" " " Beryl " "

" "" Kingfisher

NORTH " Goldeneye ATLANTIC OCEAN "" "" St. Fergus" """ " "" """ """ " "" " "" "" "" " "" """" " " " " " NORTH SEA Christian "" Bligh "" " " DENMARK " "" Mossmorran " COPENHAGEN " " " " " "" " " Fredericia " " """ " "" Halfdan "" Corrib " " Bellanaboy Bridge " K08-FA Wieringa " " "" Groningen "" " " IRELAND " " " " " " DUBLIN EASINGTON"" " "" " " " Harburg " """"" """ """"" " " Schwedt "" " """ " " " """ " "" " " """"" """""""""" """ " " "" """"""" " """"""""""""" " """"" " " "" " """""" """"""" "" " " " " """" "" """" " " "" " " " "" "" " "" "" "" "" " """ " " " " " " " " "" " " "" BERLIN " " " """" " " Bacton """" " """"""" " " """ "" " " "" " Stanlow " """ """ " " " "" "" """ " """ " """" " """ Schoonebeek AMSTERDAM " " UNITED KINGDOM "" "" " """""" """"""""" NETHERLANDS " """ """"""" Pernis """" " " Moerdijk LONDON GERMANY "

" " Litvinov " " Rheinland BRUSSELS Kralupy " BELGIUM CELTIC SEA CZECH REPUBLIC

LUXEMBOURG " FRANCE " " Miro Karlsruhe

0 100 200 300 400 km

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AFRI CA

EGYPT

MEDITERRANEAN SEA N. Damietta Offshore N. Tineh Offshore

MATRUH PORT SAID " ALEXANDRIA """

Obaiyed J5

BED3 C4W-1 BED3 C4W-2 "" " " " " "" " CAIRO " " " " "" "" "" " "" " """ " " "" " "" " " " "" " "" "" """ SITRA C4 East " BAHGA C98 WS C86 """" Al Magd C86

LIBYA EGYPT

050100150200km

NIGERIA AND BENIN

BENIN NIGERIA

PORTO NOVO LAGOS

BIGHT OF BENIN

" "" OML133 " " " " " WARRI Block 04 " " " " Forcados " " " " """ " " """ " " PORT HARCOURT " "" " " " " " " " " " " " " " " " " " " " " " " " "" " " " " " " "" "" " " " " " CALABAR " " " " " OML11 OML79 " "" " " "" " " " "" " " " " " " " " " " " " " " " " " " " "" " " " " " OML13 " " " " " "" "" " " " " " # " " "" OPL322 OML118 " Nigeria LNG " " " " " " " " " " " OML72 " " " " " " OML77 OML74 OML71 "

GULF OF GUINEA EQUATORIAL OML135 GUINEA

"" OPL245 Zabazaba-3

050100150200km

{ Oil or mixed oil and gas project { Upstream facility { Downstream facility Shell oil pipeline Concession licences { Gas project Integrated gas facility 2012 discovery or appraisal success Shell gas pipeline

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GABON LIBYA AND TUNISIA

MACEDONIA EQUATORIAL ITALY ALBANIA SAO TOME GUINEA AND PRINCIPE GREECE Igoumou Marin

LIBREVILLE Raf Raf SÃO TOMÉ Azmour AND PRÍNCIPE GABON TUNIS

MALTA ATLANTIC OCEAN PORT GENTIL LAMBARENE MEDITERRANEAN SEA Awoun Damier TUNISIA Avocette "" Koula M'Boukou "" " TRIPOLI " Coucal Toucan " Ozigo " Rabi BENGHAZI Atora " Bende-M'Bassou BC 9 " " Ras Lanuf Totou " " " " CONGO NC212 " Gamba-Ivinga NC211-NC215 BCD 10 Area 89

ALGERIA LIBYA NC211C MAYUMBA

0 50 100 150 200 km 0 100 200 300 400 km

TANZANIA SOUTH AFRICA

KENYA

BOTSWANA

JOHANNESBURG NAMIBIA

DODOMA Block 8 DAR ES SALAAM Block 6 SOUTH AFRICA LESOTHO TANZANIA DURBAN " Durban Refinery Block 5

INDIAN OCEAN Orange Basin

CAPE TOWN

INDIAN OCEAN

MOZAMBIQUE

0 100 200 300 400 km 0100200300400km

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ASIA

OMAN, QATAR, SAUDI ARABIA AND UNITED ARAB EMIRATES

IRAN " Al Jubail

Qatargas 3/4

" Block D " Qatargas 4 BAHRAIN " Pearl Ras Laffan ## Qatargas Pearl GTL Plant THE GULF UNITED ARAB DOHA EMIRATES QATAR

ABU DHABI GULF OF OMAN SUHAR " Al Dabb'iya Bida Al Qemzan " Rumaitha " " Ruwais " Bab " Sahil MUSCAT " Bu Hasa

" " Huwaila Asab Lekhwair-NW-B-hor

" " " Mazkhour-D 5 (2011) " " " " "" """ "" "" Qalhat LNG# " " " Oman LNG SUR " " " " " "" " SAUDI ARABIA "" " " " "" " " Hanya-2H1 " " "" " " " " " " " " Kidan " " " " " " Qarn Alam Production Station " "" " " " " " " " " "" " " " " OMAN " " " " " " " " " " " " " " "

" "" " """ " " " " " " " "" " " " " " " " " " "" " " " " "" """" " "" "" " " " " " """ " " " " """" " " "" "" " " " " """ " " """"" " "" """ """ " " "" " """""" Amal " """ "" " "" "" " """" " " " "" " " " " """ " """ """ " " "" """" Marmul-GNR Harweel 'A' Gath. Stn. "" """"" """" """" " " " " " " " " " " " "" "" ARABIAN SEA YEMEN

RAYSUT

0 50 100 150 200 km

{ Oil or mixed oil and gas project { Upstream facility { Downstream facility Shell oil pipeline Concession licences { Gas project Integrated gas facility 2012 discovery or appraisal success Shell gas pipeline

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TURKEY

BLACK SEA

ANKARA " Kirikale

TURKEY

Dadas Batman "

ANTALYA

Bati Toros MEDITERRANEAN SEA SYRIA

050100150200km

JORDAN

SYRIA IRAQ North West Oil Shale

AMMAN MEDITERRANEAN SEA Central Oil Shale

ISRAEL JORDAN SAUDI ARABIA

South Oil Shale EGYPT

MA'AN

0255075100km

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RUSSIA – SALYM RUSSIA – SAKHALIN

KARA SEA OKHA

" PA-B " Piltun-Astokhskoye

OKHA

PA- B NOGLIKIPiltun-Astokhskoye

Talotinsky East Onshore Processing Facility " " Lunskoye Vorkutinskiy Sev.-01 Onshore Processing Lunskoye VORKUTA Facility (OPF)

A

SEA OF RUSSIA Sakhalin Sakhalin OKHOTSK RUSSIA

Arkatoisky

SURGUT KHOLMSK YUZHNO-SAKHALINSK " West Salym " LNG Plant Zhuravl "" Vadelyp Oil Export Ter minal Upper Salym KHOLMSK YUZHNO-SAKHALINSK

Sakhalin LNG#" Oil Export Terminal

0 100 200 300 400 km 0 50 100 150 200 km

KAZAKHSTAN AND RUSSIA IRAQ

KAZAKHSTAN IRAN

Barun-Yustinskiy " ATYRAU " " " Majnoon " RUSSIA Kashagan " " " Kairan " " ASTRAKHAN Kashagan SW " Aktote West Qurna " " Tulpar " " Kalamkas More " " Auezov Naryn Khazar IRAQ " BASRA "

" CASPIAN SEA AKTAU "

GEORGIA

KUWAIT THE GULF

ARMENIA AZERBAIJAN TURKMENISTAN

0100200300400km 0255075100km

{ Oil or mixed oil and gas project { Upstream facility { Downstream facility Shell oil pipeline Concession licences { Gas project Integrated gas facility 2012 discovery or appraisal success Shell gas pipeline

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BRUNEI AND EAST MALAYSIA

" " Barton Block G South Furious SOUTH CHINA SEA " Saint Joseph SULU SEA Ubah " " Kebabangan " Malikai SB311 " " 2B Petai " Pisagan " KOTA KINABALU Gumusut " CA2 Geronggong """ Kakap M1 Saderi " "" Jintan " Maharaja Lela Champion " SK318 "" " M4 " CW-53, CW-57 " " " "" " " Serai Selangkir Blk B "" MALAYSIA PHILIPPINES M3 " "" Bugan " " Bijan Fairley " "" M3S " " Iron Duke SWA G7 " F14" Cili Padi Fairley-Baram " " " BANDAR SERI BEGAWAN SW Ampa " " F29 " " F23 " " " " Iron Duke Blk 9A2 SK408" " " B11 " " " " " "" #BLNG F6 " Beryl " Laila "" " Selasih B12 " " " F28 " S-910 "" F13 " "" F05E SK307 MIRI SK319 "" " F13W BRUNEI E6 " " E8 " E11 E19NE Tukau Timur Deep Shallow Clastic D12 " ND6 ND7

Bintulu #" SMDS MLNG

INDONESIA CELEBES SEA

050100150200km

PHILIPPINES CHINA

BEIJING

YINCHUAN " Changbei

North Shilou

Tabangao " BATANGAS

XI'AN

SOUTH CHINA SEA PHILIPPINES Zitong " SHANGHAI CHENGDU JinQiu CHINA " Fushun

San Martin "

SC 38B " Malampaya " Destecado " SC 38A

TAIWAN

SAN JOSE " Nanhai HONG KONG DE BUENAVISTA VIETNAM

LAOS SOUTH CHINA SEA SULU SEA Yinggehai PHILIPPINES THAILAND

050100150200km 0 150 300 450 600 km

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OCEANIA

WEST AUSTRALIA AND INDONESIA

" Abadi Greater Sunrise " INDONESIA " Evans Shoal

TIMOR SEA

DARWIN North West Shelf AC/P 41 "" Crux WA-44-L " #" WA-477-P " Prelude " "

DERBY

BROOME North Rankin Pinhoe Pontus " " """" "" " " "" " " """" """" " "" " "" Arnhem "" " NWS Australia LNG "" "" " "" "" "" Pluto LNG (Woodside) " # # DAMPIER AUSTRALIA Satyr 2&4 Gorgon LNG #Wheatstone LNG INDIAN OCEAN Western Australia Northern Territory EXMOUTH

0 100 200 300 400 km

EAST AUSTRALIA NEW ZEALAND

"

TOWNSVILLE CORAL SEA AUCKLAND "

Arrow Energy LNG MACKAY " NEW PLYMOUTH " " Pohokura " " " " "Kapuni "" Queensland CBM Maui

TASMAN SEA

GLADSTONE WELLINGTON AUSTRALIA

CHRISTCHURCH

Kogan North" "Daandine Tipton West " BRISBANE NEW ZEALAND PACIFIC OCEAN

DUNEDIN South Queensland Australia New South Wales Great South Basin

0 100 200 300 400 km 0 100 200 300 400 km

{ Oil or mixed oil and gas project { Upstream facility { Downstream facility Shell oil pipeline Concession licences { Gas project Integrated gas facility 2012 discovery or appraisal success Shell gas pipeline

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AMERICAS

NORTH-WEST USA NORTH-EAST USA AND CANADA

CANADA CANADA UNITED STATES " Puget Sound Washington UNITED STATES SEATTLE North Dakota Montana " Sarnia Refinery New York

Marcellus South Dakota " BINGHAMTON " " OregonIdaho Wyoming " " " " " " CASPER Tioga " Pinedale CLEVELAND " Bradford Nebraska Drake 2053-6HS "" " Ohio Pennsylvania DENVER Slippery Rock Nevada Utah Colorado Kansas PITTSBURGH " Martinez WICHITA Guernsey Arrowhead " New California Oklahoma Maryland Jersey Arizona New Mexico LOS ANGELES West Virginia Virginia Delaware Baja Regas# Texas CHARLESTON EL PASO " Permian #Cove Point PACIFIC OCEAN MEXICO

0 150 300 450 600 km 050100150200km

SOUTH USA AND GULF OF MEXICO

SHREVEPORT

" " " " " """ UNITED STATES " Haynesville " " " " " Texas Mississippi Alabama

" Mobile Louisiana Florida MOBILE BATON ROUGE Geismar " Convent " " " Port Arthur Refinery NEW IBERIA NEW ORLEANS Norco HOUSTON " Deer Park SAN ANTONIO HOUMA Ram-Powell Ariel " NaKika Kepler Herschel " Elmer Cognac " Ursa Chittim Ranch " WD 143 " " "" Appomattox Enchilada North " Eagle Ford West Boreas "" Chimichanga King " " Fourier "Hickory " " Salsa " " Mensa Cougar " Deimos """"""" Coulomb Piloncillo Ranch " " Princess Conger Europa "" East Anstey " Brutus " " Ursa " " " Popeye Antiqua Troika " " Vito Crosby-Pastel Pink " Glider Cardamom "" Habanero " Mars Auger " Llano South Deimos Olympus Oregano Caesar "" Macaroni Tonga

" Santa Fe Ranch " Stones

" Perdido " " Silvertip Great White Tobago

MEXICO GULF OF MEXICO

0 50 100 150 200 km

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ALASKA, YUKON AND NORTHWESTERN TERRITORIES NOVA SCOTIA

Newfoundland

BEAUFORT SEA Nova Scotia BARROW CHUKCHI SEA HALIFAX Sable Island "

UNITED STATES " Inuvik CANADA ATLANTIC OCEAN Alaska Northwestern Territories Nova Scotia - Offshore " Yukon Central Mackenzie Valley FAIRBANKS

0 100 200 300 400 km 0 100 200 300 400 km

ALBERTA AND BRITISH COLUMBIA

"

UNITED STATES

Alberta

Gundy - Montney Shale "" Namur " Worsley " Ells River " FORT ST. JOHN Kitimat " " " " " " W. Groundbirch - Phosphate" " " " " Grosmont " " " " " " " "" Peace River Muskeg River Mine " " " Grapevine " " " " " " Moonshine " "" " " " " " FORT MCMURRAY " GRANDE PRAIRIE " " " " " Seal "" CANADA Alley Cat Chipmunk Fox Creek - Duvernay Shale"" " " " "" "" " "" "" " Deep Basin """ " " " "" " " " Quest " " Scotford " " PACIFIC OCEAN British Columbia EDMONTON Saskatchewan

" " " Rocky Mountain House

Area " " pan Clearwater " Klap Limestone " " " " " A " " " NAD "" CA " " ES " STAT " TED " " "" UNI Panther "" " " " " "" """ VANCOUVER " " skatch " Jumping Pound Sa " """"" CALGARY "

" Angler

" " """" UNITED STATES " " Waterton Bakken

0 100 200 300 400 km

{ Oil or mixed oil and gas project { Upstream facility { Downstream facility Shell oil pipeline Concession licences { Gas project Integrated gas facility 2012 discovery or appraisal success Shell gas pipeline Designated oil sands area

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GREENLAND FRENCH GUIANA AND GUYANA

TRINIDAD AND TOBAGO ATLANTIC OCEAN

Stabroek

MABARUMA

VENEZUELA Anu GEORGETOWN Guyane Maritime

Napu GREENLAND GUYANA PARAMARIBO "

UPERNAVIK CAYENNE CANADA SURINAME FRENCH GUIANA BAFFIN BAY

BRAZIL

0 100 200 300 400 km 0100200300400km

COLOMBIA AND VENEZUELA ARGENTINA AND BRAZIL

CARIBBEAN SEA Gua-3

Col-3 BRASILIA

BARRANQUILLA MARACAIBO BOLIVIA BRAZIL " CARACAS

Urdaneta Oeste Argonauta "" Ostra " PANAMA " Abalone RIO DE JANEIRO " Salema CHILE PARAGUAY SAO PAULO Bijupira VENEZUELA Macueta "" BMS-54 Pre-Salt VMM 27 VMM 3 San Pedrito VMM 28

ARGENTINA CPE 2 " Luna Llena PACIFIC URUGUAY OCEAN BOGOTA CPE 4 BUENOS AIRES " Buenos Aires Refinery SOUTH COLOMBIA ATLANTIC OCEAN Neuquen

0 100 200 300 400 km 0 200 400 600 800 km

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CONSOLIDATED DATA

EMPLOYEES

EMPLOYEES BY SEGMENT (AVERAGE NUMBERS) THOUSANDS EMPLOYEES BY COUNTRY (AVERAGE NUMBERS) THOUSANDS 2012 2011 2010 2009 2008 2012 2011 2010 2009 2008 Upstream 26 27 26 23 22 Argentina 22333 Downstream 48 51 59 62 64 Australia 22233 Corporate [A] 13 12 12 16 16 Brazil 11222 Total 87 90 97 101 102 Canada 88866 [A] Corporate includes employees working in business service centres. China/Hong Kong 44444 France 11112 Gabon 1 1 [A] [A] [A] Germany 44555 EMPLOYEES BY GEOGRAPHICAL AREA India 3 3 3 2 1 (AVERAGE NUMBERS) THOUSANDS Italy 1 1 1 1 1 2012 2011 2010 2009 2008 Malaysia 6 6 6 7 7 The Netherlands 88899The Netherlands 8 8899 UK 67788Nigeria 1 2222 Other 10 10 13 14 15 Norway 11111 Europe 24 25 28 31 32 Philippines 44433 Asia, Oceania, Africa 31 33 34 34 34 Poland 22221 USA 20 20 20 22 23 Qatar 11111 Other Americas 12 12 15 14 13 Singapore 33333 Total 87 90 97 101 102 South Africa 11222 Turkey 11111 UK 57788 EMPLOYEE EXPENSE $ MILLION United Arab Emirates 11111 2012 2011 2010 2009 2008 USA 20 20 20 22 23 Remuneration 11,133 11,158 10,667 10,608 10,581 81 84 87 89 89 Social law taxes 789 774 758 818 890 As percentage of total (%) 93 93 90 88 87 Retirement beneﬁ ts 2,502 1,804 1,980 2,679 (302) Total 87 90 97 101 102 Share-based compensation 909 754 701 642 241 [A] Fewer than 500 employees. Total 15,333 14,490 14,106 14,747 11,410

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 52 08-05-13 14:53 reports.shell.com | Shell Investors’ Handbook 53 Consolidated data

CONSOLIDATED FINANCIAL DATA

CONSOLIDATED STATEMENT OF INCOME $ MILLION 2012 2011 2010 2009 2008 Revenue 467,153 470,171 368,056 278,188 458,361 Share of proﬁ t of equity-accounted investments 8,948 8,737 5,953 4,976 7,446 Interest and other income 5,599 5,581 4,143 1,965 5,133 Total revenue and other income 481,700 484,489 378,152 285,129 470,940 Purchases 369,725 370,044 283,176 203,075 359,587 Production and manufacturing expenses 26,280 26,458 24,458 25,301 25,565 Selling, distribution and administrative expenses 14,616 14,335 15,528 17,430 16,906 Research and development 1,314 1,125 1,019 1,125 1,230 Exploration 3,104 2,266 2,036 2,178 1,995 Depreciation, depletion and amortisation 14,615 13,228 15,595 14,458 13,656 Interest expense 1,757 1,373 996 542 1,181 Income before taxation 50,289 55,660 35,344 21,020 50,820 Taxation 23,449 24,475 14,870 8,302 24,344 Income for the period 26,840 31,185 20,474 12,718 26,476 Income attributable to non-controlling interest 248 267 347 200 199 Income attributable to Royal Dutch Shell plc shareholders 26,592 30,918 20,127 12,518 26,277

CCS EARNINGS $ MILLION 2012 2011 2010 2009 2008 Income attributable to Royal Dutch Shell plc shareholders 26,592 30,918 20,127 12,518 26,277 Estimated CCS adjustment for Downstream 452 (2,293) (1,484) (2,714) 5,089 CCS earnings 27,044 28,625 18,643 9,804 31,366

EARNINGS PER SHARE $ 2012 2011 2010 2009 2008 Basic earnings per €0.07 ordinary share 4.25 4.98 3.28 2.04 4.27 Diluted earnings per €0.07 ordinary share 4.24 4.97 3.28 2.04 4.26

SHARES MILLION 2012 2011 2010 2009 2008 Basic weighted average number of A and B shares 6,261.2 6,212.5 6,132.6 6,124.9 6,159.1 Diluted weighted average number of A and B shares 6,267.8 6,221.7 6,139.3 6,128.9 6,171.5 Shares outstanding at the end of the period 6,305.9 6,220.1 6,154.2 6,122.3 6,121.7

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CONSOLIDATED BALANCE SHEET (AT DECEMBER 31) $ MILLION 2012 2011 2010 2009 2008 Assets Non-current assets Intangible assets 4,470 4,521 5,039 5,356 5,021 Property, plant and equipment 172,293 152,081 142,705 131,619 112,038 Upstream 138,222 119,789 109,677 97,208 80,302 Downstream 33,259 31,467 32,205 33,513 30,876 Corporate 812 825 823 898 860 Equity-accounted investments 38,350 37,990 33,414 31,175 28,327 Investments in securities 4,867 5,492 3,809 3,874 4,065 Deferred tax 4,045 4,732 5,361 4,533 3,418 Retirement benefi ts 12,575 11,408 10,368 10,009 6,198 Trade and other receivables 8,991 9,256 8,970 9,158 6,764 245,591 225,480 209,666 195,724 165,831 Current assets Inventories 30,781 28,976 29,348 27,410 19,342 Accounts receivable 65,403 79,509 70,102 59,328 82,040 Cash and cash equivalents 18,550 11,292 13,444 9,719 15,188 114,734 119,777 112,894 96,457 116,570 Total assets 360,325 345,257 322,560 292,181 282,401 Liabilities Non-current liabilities Debt 29,921 30,463 34,381 30,862 13,772 Trade and other payables 4,175 4,921 4,250 4,586 3,677 Deferred tax 15,590 14,649 13,388 13,838 12,518 Retirement benefi ts 6,298 5,931 5,924 5,923 5,469 Decommissioning and other provisions 17,435 15,631 14,285 14,048 12,570 73,419 71,595 72,228 69,257 48,006 Current liabilities Debt 7,833 6,712 9,951 4,171 9,497 Trade and other payables 72,839 81,846 76,550 67,161 85,091 Taxes payable 12,684 10,606 10,306 9,189 8,107 Retirement benefi ts 402 387 377 461 383 Decommissioning and other provisions 3,221 3,108 3,368 3,807 2,451 96,979 102,659 100,552 84,789 105,529 Total liabilities 170,398 174,254 172,780 154,046 153,535 Equity Share capital 542 536 529 527 527 Shares held in trust (2,287) (2,990) (2,789) (1,711) (1,867) Other reserves 10,021 8,984 10,094 9,982 3,178 Retained earnings 180,218 162,987 140,179 127,633 125,447 Equity attributable to Royal Dutch Shell plc shareholders 188,494 169,517 148,013 136,431 127,285 Non-controlling interest 1,433 1,486 1,767 1,704 1,581 Total equity 189,927 171,003 149,780 138,135 128,866 Total liabilities and equity 360,325 345,257 322,560 292,181 282,401

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CONSOLIDATED STATEMENT OF CASH FLOWS $ MILLION 2012 2011 2010 2009 2008 Cash fl ow from operating activities Income for the period 26,840 31,185 20,474 12,718 26,476 Adjustment for: Current taxation 22,722 23,009 16,384 9,297 24,452 Interest expense (net) 1,543 1,164 842 1,247 1,039 Depreciation, depletion and amortisation 14,615 13,228 15,595 14,458 13,656 Net gains on sale of assets (4,228) (4,485) (3,276) (781) (4,071) (Increase)/decrease in net working capital 3,391 (6,471) (5,929) (2,331) 7,935 (Increase)/decrease in inventories (1,746) (1,930) (2,888) (7,138) 8,025 Decrease/(increase) in accounts receivable 14,145 (10,109) (11,931) 23,679 (11,160) (Decrease)/increase in accounts payable and accrued liabilities (9,008) 5,568 8,890 (18,872) 11,070 Share of profi t of equity-accounted investments (8,948) (8,737) (5,953) (4,976) (7,446) Dividends received from equity-accounted investments 10,573 9,681 6,519 4,903 9,325 Deferred taxation and decommissioning and other provisions 461 1,768 (1,934) (1,925) (1,030) Other 201 (949) (10) (1,879) (549) Net cash from operating activities (pre-tax) 67,170 59,393 42,712 30,731 69,787 Taxation paid (21,030) (22,622) (15,362) (9,243) (25,869) Cash fl ow from operating activities 46,140 36,771 27,350 21,488 43,918 Cash fl ow from investing activities Capital expenditure (32,576) (26,301) (26,940) (26,516) (35,065) Investments in equity-accounted investments (3,028) (1,886) (2,050) (2,955) (1,885) Proceeds from sale of assets 6,346 6,990 3,325 1,325 4,737 Proceeds from sale of equity-accounted investments 698 468 3,591 1,633 2,062 Proceeds from sale/(purchases) of securities (net) (86) 90 (34) (105) 224 Interest received 193 196 136 384 1,012 Net cash used in investing activities (28,453) (20,443) (21,972) (26,234) (28,915) Cash fl ow from fi nancing activities Net (decrease)/increase in debt with maturity period within three months (165) (3,724) 4,647 (6,507) 4,161 Other debt New borrowings 5,108 1,249 7,849 19,742 3,555 Repayments (4,960) (4,649) (3,240) (2,534) (2,890) Interest paid (1,428) (1,665) (1,312) (902) (1,371) Change in non-controlling interest 23 8 381 62 40 Cash dividends paid to: Royal Dutch Shell plc shareholders (7,390) (6,877) (9,584) (10,526) (9,516) Non-controlling interest (292) (438) (395) (191) (325) Repurchases of shares (1,492) (1,106) – – (3,573) Shares held in trust: net (purchases)/sales and dividends received (34) (929) 187 27 525 Net cash used in fi nancing activities (10,630) (18,131) (1,467) (829) (9,394) Currency translation differences relating to cash and cash equivalents 201 (349) (186) 106 (77) Increase/(decrease) in cash and cash equivalents 7,258 (2,152) 3,725 (5,469) 5,532 Cash and cash equivalents at January 1 11,292 13,444 9,719 15,188 9,656 Cash and cash equivalents at December 31 18,550 11,292 13,444 9,719 15,188

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QUARTERLY EARNINGS BY BUSINESS SEGMENT $ MILLION 2012 2011 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Upstream* [A] Europe 1,377 1,213 734 1,244 4,568 863 1,035 1,261 1,922 5,081 Asia-Pacifi c 1,402 1,350 1,822 1,749 6,323 1,139 1,539 1,806 1,223 5,707 Other 2,786 2,211 2,575 2,782 10,354 1,852 2,287 2,320 2,450 8,909 Upstream International 5,565 4,774 5,131 5,775 21,245 3,854 4,861 5,387 5,595 19,697 Upstream Americas 1,141 (86) (541) 403 917 1,904 1,200 684 970 4,758 Total 6,706 4,688 4,590 6,178 22,162 5,758 6,061 6,071 6,565 24,455 * of which integrated gas [B] 2,426 2,619 2,774 3,159 10,978 759 2,160 2,437 1,923 7,279 Downstream (CCS basis) Oil products 820 879 1,395 865 3,959 685 1,347 827 (624) 2,235 Chemicals 499 481 202 209 1,391 485 536 653 380 2,054 Total 1,319 1,360 1,597 1,074 5,350 1,170 1,883 1,480 (244) 4,289 Corporate and non-controlling interest Interest and investment income/(expense) (388) (221) (239) (153) (1,001) (194) (160) (152) (118) (624) Currency exchange gains/(losses) 185 (107) 77 14 169 92 126 (270) (25) (77) Other – including taxation (61) 292 177 215 623 201 175 168 243 787 Corporate (264) (36) 15 76 (209) 99 141 (254) 100 86 Non-controlling interest (102) (48) (75) (34) (259) (102) (90) (51) 38 (205) Total (366) (84) (60) 42 (468) (3) 51 (305) 138 (119) CCS earnings 7,659 5,964 6,127 7,294 27,044 6,925 7,995 7,246 6,459 28,625 Estimated CCS adjustment for Downstream 1,060 (1,901) 1,012 (623) (452) 1,855 667 (270) 41 2,293 Income attributable to Royal Dutch Shell plc shareholders 8,719 4,063 7,139 6,671 26,592 8,780 8,662 6,976 6,500 30,918 [A] Europe: Europe. Asia-Pacifi c: East Asia and Oceania. Other: Africa, Middle East and Commonwealth of Independent States. Americas: North and South America. [B] Integrated gas is part of the Upstream segment. It incorporates liquefi ed natural gas, including LNG marketing and trading, and gas-to-liquids operations, as previously reported in the Gas & Power segment. In addition, the associated upstream oil and gas production activities from projects where there are integrated fi scal and ownership structures across the value chain are included in integrated gas. These include the North West Shelf, Pearl, Qatargas 4, Pluto (Woodside) and Sakhalin-2 projects that are on-stream, as well as Gorgon, Prelude and Wheatstone projects that are currently under construction. Power generation and coal gasifi cation activities are also included in integrated gas.

QUARTERLY IDENTIFIED ITEMS BY BUSINESS SEGMENT [A] $ MILLION 2012 2011 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Upstream* [B] Europe (64) 160 (357) 45 (216) (162) 85 171 450 544 Asia-Pacifi c – 539 184 717 1,440 (38) 482 381 152 977 Other – (373) 314 567 508 221 27 132 544 924 Upstream International (64) 326 141 1,329 1,732 21 594 684 1,146 2,445 Upstream Americas 517 (145) (439) 472 405 1,099 47 (48) 312 1,410 Total 453 181 (298) 1,801 2,137 1,120 641 636 1,458 3,855 * of which integrated gas [C] – 539 202 835 1,576 (319) 535 534 111 861 Downstream (CCS basis) Oil products 198 32 (47) (89) 94 (479) 796 (317) 34 34 Chemicals – 32 (87) – (55) (4) 6 (21) – (19) Total 198 64 (134) (89) 39 (483) 802 (338) 34 15 Corporate and non-controlling interest Corporate (234) – – – (234) – – (53) 76 23 Non-controlling interest (37) – – – (37) – – – 45 45 Total (271) – – – (271) – – (53) 121 68 CCS earnings impact 380 245 (432) 1,712 1,905 637 1,443 245 1,613 3,938 [A] Identifi ed items generally relate to events with an impact of more than $50 million on earnings and are shown to provide additional insight into segment earnings and income attributable to shareholders. A detailed description of Shell’s identifi ed items per quarter can be found in the Quarterly Results Announcements. [B] Europe: Europe. Asia-Pacifi c: East Asia and Oceania. Other: Africa, Middle East and Commonwealth of Independent States. Americas: North and South America. [C] Integrated gas is part of the Upstream segment. It incorporates liquefi ed natural gas, including LNG marketing and trading, and gas-to-liquids operations, as previously reported in the Gas & Power segment. In addition, the associated upstream oil and gas production activities from projects where there are integrated fi scal and ownership structures across the value chain are included in integrated gas. These include the North West Shelf, Pearl, Qatargas 4 and Sakhalin-2 projects, which were on-stream in 2012. Power generation and coal gasifi cation activities are also included in integrated gas.

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QUARTERLY EARNINGS BY BUSINESS SEGMENT $ MILLION 2010 2009 2008 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year

1,487 910 745 1,186 4,328 1,461 209 362 724 2,756 1,748 1,240 3,213 2,608 8,809 1,068 770 1,551 2,826 6,215 751 722 566 575 2,614 1,021 1,290 1,031 1,140 4,482 928 1,257 1,424 1,053 4,662 320 471 467 581 1,839 1,470 1,638 1,833 1,066 6,007 3,483 2,937 3,720 5,065 15,205 2,532 1,402 1,395 1,880 7,209 4,239 4,168 6,077 4,814 19,298 932 333 (567) 32 730 (348) 689 148 656 1,145 2,100 2,689 2,570 (151) 7,208 4,415 3,270 3,153 5,097 15,935 2,184 2,091 1,543 2,536 8,354 6,339 6,857 8,647 4,663 26,506 960 813 1,280 2,674 5,727 511 441 473 360 1,785 881 1,044 1,217 951 4,093

430 1,081 10 (82) 1,439 1,077 (257) 1,163 (2,041) (58) 1,195 1,075 2,303 580 5,153 313 390 315 493 1,511 (74) (18) 129 279 316 201 (142) 116 (19) 156 743 1,471 325 411 2,950 1,003 (275) 1,292 (1,762) 258 1,396 933 2,419 561 5,309

(98) (39) (107) (65) (309) 21 25 59 255 360 110 81 178 (41) 328 (63) (160) 50 215 42 (46) 379 160 151 644 (62) 27 (264) (351) (650) (15) 87 205 81 358 158 144 (17) 21 306 98 93 43 19 253 (176) (112) 148 231 91 133 548 202 427 1,310 146 201 (43) (373) (69) (85) (100) (105) (43) (333) (23) (24) (47) (24) (118) (105) (89) (120) (66) (380) (261) (212) 43 188 (242) 110 524 155 403 1,192 41 112 (163) (439) (449) 4,897 4,529 3,521 5,696 18,643 3,297 2,340 2,990 1,177 9,804 7,776 7,902 10,903 4,785 31,366 584 (136) (58) 1,094 1,484 191 1,482 257 784 2,714 1,307 3,654 (2,455) (7,595) (5,089) 5,481 4,393 3,463 6,790 20,127 3,488 3,822 3,247 1,961 12,518 9,083 11,556 8,448 (2,810) 26,277

QUARTERLY IDENTIFIED ITEMS BY BUSINESS SEGMENT [A] $ MILLION 2010 2009 2008 Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year

16 (49) 339 (19) 287 233 (389) 49 (76) (183) (161) (373) 1,737 906 2,109 – 6 453 1,927 2,386 65 70 46 (256) (75) – 47 (67) 35 15 (50) 11 102 (20) 43 97 – (15) (33) 49 – 132 193 430 755 (34) (32) 894 1,888 2,716 395 (319) 80 (365) (209) (161) (194) 1,863 1,371 2,879 144 42 (1,178) (231) (1,223) (65) 204 (203) 139 75 84 (8) 505 27 608 110 10 (284) 1,657 1,493 330 (115) (123) (226) (134) (77) (202) 2,368 1,398 3,487 9 42 405 2,023 2,479 80 (6) 125 (232) (33) – 35 104 91 230

(35) 365 (1,128) 10 (788) (186) (611) 576 (1,429) (1,650) – (269) 477 (383) (175) – (54) – (81) (135) (19) (67) (40) 94 (32) – (206) (32) (22) (260) (35) 311 (1,128) (71) (923) (205) (678) 536 (1,335) (1,682) – (475) 445 (405) (435)

– – – – – 162 (17) (42) (36) 67 – – – (96) (96) – – – – – – – – – – – – – – – – – – – – 162 (17) (42) (36) 67 – – – (96) (96) 75 321 (1,412) 1,586 570 287 (810) 371 (1,597) (1,749) (77) (677) 2,813 897 2,956

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ADDITIONAL SEGMENTAL INFORMATION $ MILLION 2012 2011 2010 2009 2008 Upstream Segment earnings 22,162 24,455 15,935 8,354 26,506 Including: Exploration 3,104 2,266 2,036 2,178 1,995 Depreciation, depletion and amortisation 11,387 8,827 11,144 9,875 9,906 Share of profi t of equity-accounted investments 8,001 7,127 4,900 3,852 7,521 Production and manufacturing expenses 16,474 15,606 13,697 13,958 13,763 Selling, distribution and administrative expenses 1,226 1,276 1,512 2,206 2,030 Cash fl ow from operations 33,061 30,579 24,872 19,935 38,681 Less: Working capital movements 110 (2,702) 346 1,490 3,233 Cash fl ow from operations excluding working capital movements 32,951 33,281 24,526 18,445 35,448 Capital employed 139,277 126,437 113,631 98,826 83,997 Downstream Segment CCS earnings 5,350 4,289 2,950 258 5,309 Including: Depreciation, depletion and amortisation 3,083 4,251 4,254 4,399 3,574 Share of profi t of equity-accounted investments 1,354 1,577 948 661 834 Production and manufacturing expenses 9,484 10,547 10,592 11,829 12,225 Selling, distribution and administrative expenses 12,996 12,920 13,716 14,505 14,451 Cash fl ow from operations 11,111 4,921 1,961 4,056 8,607 Less: Working capital movements 3,083 (3,825) (6,177) (1,783) 6,857 Cash fl ow from operations excluding working capital movements 8,028 8,746 8,138 5,839 1,750 Capital employed 71,889 71,976 67,287 62,632 54,050 Corporate Segment earnings (209) 86 91 1,310 (69) Cash fl ow from operations 1,968 1,271 517 (2,503) (3,370) Less: Working capital movements 198 56 (98) (2,039) (2,155) Cash fl ow from operations excluding working capital movements 1,770 1,215 615 (464) (1,215) Capital employed 16,515 9,765 13,194 11,710 14,088 Shell group CCS earnings 27,303 28,830 18,976 9,922 31,746 Non-controlling interest (259) (205) (333) (118) (380) CCS earnings (after non-controlling interest) 27,044 28,625 18,643 9,804 31,366 Cash fl ow from operations 46,140 36,771 27,350 21,488 43,918 Less: Working capital movements 3,391 (6,471) (5,929) (2,332) 7,935 Cash fl ow from operations excluding working capital movements 42,749 43,242 33,279 23,820 35,983 Capital employed 227,681 208,178 194,112 173,168 152,135

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CAPITAL EMPLOYED [A] (AT DECEMBER 31) $ MILLION 2012 2011 2010 2009 2008 Upstream Europe 10,792 10,682 10,588 9,767 7,615 Asia-Paciﬁ c 29,863 23,372 16,578 13,352 10,035 Other 40,119 41,427 38,772 35,779 32,164 Upstream International 80,774 75,481 65,938 58,898 49,814 Upstream Americas 58,503 50,956 47,693 39,928 34,183 Downstream Oil products 59,826 59,176 55,302 50,751 44,146 Chemicals 12,063 12,800 11,985 11,881 9,904 Corporate 16,515 9,765 13,194 11,710 14,088 Total 227,681 208,178 194,112 173,168 152,135 [A] Consists of total equity, current debt and non-current debt.

NET CAPITAL INVESTMENT $ MILLION 2012 2011 2010 2009 2008 Capital expenditure Upstream Europe 2,455 1,731 1,892 3,117 2,689 Asia-Pacifi c 7,037 5,683 2,794 2,010 1,720 Other 3,402 4,133 5,128 6,792 9,069 Upstream International 12,894 11,547 9,814 11,919 13,478 Upstream Americas 15,036 9,134 12,509 8,345 15,469 Total Upstream 27,930 20,681 22,323 20,264 28,947 Downstream Oil products 3,558 4,845 3,714 3,994 3,796 Chemicals 875 634 809 1,985 2,081 Total Downstream 4,433 5,479 4,523 5,979 5,877 Corporate 213 141 94 273 241 Total capital expenditure 32,576 26,301 26,940 26,516 35,065 Exploration expense 2,114 1,462 1,214 1,186 1,447 Leases and other adjustments [A] (957) 1,402 358 1,078 47 New equity in equity-accounted investments 2,410 1,466 1,646 1,270 1,294 New loans to equity-accounted investments 618 420 404 1,685 591 Total capital investment 36,761 31,051 30,562 31,735 38,444 Proceeds from divestments [B] Upstream 5,859 4,280 4,487 1,625 3,909 Downstream 1,179 3,206 2,401 1,278 2,932 Corporate (80) 62 (6) (50) 182 Total 6,958 7,548 6,882 2,853 7,023 Total net capital investment * 29,803 23,503 23,680 28,882 31,421 * Comprising Upstream** 25,320 19,083 21,222 22,326 28,257 Upstream International 11,712 11,243 8,497 13,564 12,324 Upstream Americas 13,608 7,840 12,725 8,762 15,933 Downstream 4,275 4,342 2,358 6,232 3,104 Oil products 3,490 3,793 1,714 4,638 1,343 Chemicals 785 549 644 1,594 1,761 Corporate 208 78 100 324 60 Total 29,803 23,503 23,680 28,882 31,421 ** Of which integrated gas 4,482 4,537 2,890 5,119 6,999 [A] Includes fi nance leases and other adjustments related to timing differences between the recognition of assets and associated underlying cash fl ows. [B] Includes proceeds from the sale of assets, equity-accounted investments and securities, as shown in the Consolidated statement of cash fl ows.

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FIXED ASSETS [A] (AT DECEMBER 31) $ MILLION 2012 2011 2010 2009 2008 Upstream Europe 16,860 14,327 16,119 18,478 16,550 Asia-Paciﬁ c 35,104 27,536 20,536 16,307 13,094 Other 44,469 44,913 42,868 38,637 32,886 Upstream International 96,433 86,776 79,523 73,422 62,530 Upstream Americas 67,800 59,683 54,453 46,391 39,228 Downstream Oil products 41,678 39,711 37,072 38,166 35,002 Chemicals 11,773 11,735 11,799 11,642 10,486 Corporate 2,296 2,180 2,120 2,403 2,205 Total 219,980 200,085 184,967 172,024 149,451 [A] Comprises intangible assets, property, plant and equipment, equity-accounted investments and investments in securities.

AMORTISATION $ MILLION 2012 2011 2010 2009 2008 Upstream Europe 1,583 1,519 2,732 2,746 3,113 Asia-Paciﬁ c 1,027 1,222 1,063 1,091 1,426 Other 2,458 1,603 1,445 1,507 1,944 Upstream International 5,068 4,344 5,240 5,344 6,483 Upstream Americas 6,319 4,483 5,904 4,531 3,423 Downstream Oil products 2,273 3,408 3,444 3,469 2,686 Chemicals 810 843 810 930 888 Corporate 145 150 197 184 176 Total 14,615 13,228 15,595 14,458 13,656

TAXATION CHARGE 2012 2011 2010 2009 2008 Current taxation ($ million) 22,722 23,009 16,384 9,297 24,452 Deferred taxation ($ million) 727 1,466 (1,514) (995) (108) Total taxation charge ($ million) 23,449 24,475 14,870 8,302 24,344 As percentage of income before taxation (%) 47 44 42 39 48

FINANCIAL RATIOS 2012 2011 2010 2009 2008 Return on average capital employed Income for the period adjusted for interest expense, less tax for the period, as % of the average capital employed 12.7 15.9 11.5 8.0 18.3 Return on average capital in service Income for the year, adjusted for after-tax interest expense and depreciation on exploration and evaluation assets, as % of the average capital employed, adjusted for assets under construction and exploration and evaluation assets, for the same period 17.7 22.6 18.5 13.0 25.5 Return on sales Income for the year as % of sales proceeds (including sales taxes, etc) 4.9 5.6 4.6 3.5 4.8 Return on equity Income attributable to Royal Dutch Shell plc shareholders as % of average net assets (i.e. equity attributable to Royal Dutch Shell plc shareholders and non-controlling interest) 14.7 19.3 14.0 9.4 20.6 Current ratio Current assets : current liabilities 1.2 1.2 1.1 1.1 1.1 Long-term debt ratio Non-current debt as % of capital employed less current debt 13.6 15.1 18.7 18.3 9.7 Total debt ratio Non-current debt plus current debt as % of capital employed 16.6 17.9 22.8 20.2 15.3 Gearing ratio at December 31 Net debt as % of total capital 9.2 13.1 17.1 15.5 5.9

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UPSTREAM DATA

UPSTREAM EARNINGS

2012 $ MILLION Upstream Upstream Europe Asia [A] Other [B] International Americas Total Revenue (third party and inter-segment) 26,569 13,133 36,734 76,436 18,114 94,550 Share of profi t of equity-accounted investments 1,667 1,195 4,016 6,878 1,123 8,001 Interest and other income 70 2,900 984 3,954 882 4,836 Total revenue and other income 28,306 17,228 41,734 87,268 20,119 107,387 Purchases 10,689 4,839 6,015 21,543 3,702 25,245 Production and manufacturing expenses 2,555 1,794 4,717 9,066 7,408 16,474 Taxes other than income tax 350 675 1,301 2,326 183 2,509 Selling, distribution and administrative expenses 842 205 (2) 1,045 181 1,226 Research and development 595 16 – 611 265 876 Exploration 370 486 876 1,732 1,372 3,104 Depreciation, depletion and amortisation 1,583 1,027 2,458 5,068 6,319 11,387 Interest expense 311 58 160 529 245 774 Earnings before taxation 11,011 8,128 26,209 45,348 444 45,792 Taxation 6,443 1,805 15,855 24,103 (473) 23,630 Earnings after taxation 4,568 6,323 10,354 21,245 917 22,162 Cash fl ow from operations 6,698 5,816 14,342 26,856 6,205 33,061 Less: Net working capital movements 13 317 (840) (510) 620 110 Cash fl ow from operations excluding net working capital movements 6,685 5,499 15,182 27,366 5,585 32,951

2011 $ MILLION Upstream Upstream Europe Asia [A] Other [B] International Americas Total Revenue (third party and inter-segment) 26,263 11,125 33,451 70,839 20,852 91,691 Share of profi t of equity-accounted investments 1,527 1,111 3,121 5,759 1,368 7,127 Interest and other income 42 841 1,052 1,935 2,214 4,149 Total revenue and other income 27,832 13,077 37,624 78,533 24,434 102,967 Purchases 9,687 2,190 4,605 16,482 5,606 22,088 Production and manufacturing expenses 2,775 1,735 4,606 9,116 6,490 15,606 Taxes other than income tax 390 835 1,553 2,778 239 3,017 Selling, distribution and administrative expenses 1,010 83 22 1,115 161 1,276 Research and development 505 15 – 520 162 682 Exploration 313 413 584 1,310 956 2,266 Depreciation, depletion and amortisation 1,519 1,222 1,603 4,344 4,483 8,827 Interest expense 356 53 149 558 198 756 Earnings before taxation 11,277 6,531 24,502 42,310 6,139 48,449 Taxation 6,196 824 15,593 22,613 1,381 23,994 Earnings after taxation 5,081 5,707 8,909 19,697 4,758 24,455 Cash fl ow from operations 6,680 6,343 9,421 22,444 8,135 30,579 Less: Net working capital movements (876) (133) (2,225) (3,234) 532 (2,702) Cash fl ow from operations excluding net working capital movements 7,556 6,476 11,646 25,678 7,603 33,281 [A] Asia : East Asia and Oceania. [B] Other: Africa, Middle East and Commonwealth of Independent States.

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2010 $ MILLION Upstream Upstream Europe Asia [A] Other [B] International Americas Total Revenue (third party and inter-segment) 21,379 7,893 22,950 52,222 15,976 68,198 Share of profi t of equity-accounted investments 1,378 1,099 1,509 3,986 914 4,900 Interest and other income 37 3,153 166 3,356 260 3,616 Total revenue and other income 22,794 12,145 24,625 59,564 17,150 76,714 Purchases 7,379 1,175 2,602 11,156 2,936 14,092 Production and manufacturing expenses 2,981 1,539 3,635 8,155 5,542 13,697 Taxes other than income tax 303 567 1,069 1,939 254 2,193 Selling, distribution and administrative expenses 989 90 12 1,091 421 1,512 Research and development 416 5 – 421 199 620 Exploration 335 337 342 1,014 1,022 2,036 Depreciation, depletion and amortisation 2,732 1,063 1,445 5,240 5,904 11,144 Interest expense 344 37 128 509 154 663 Earnings before taxation 7,315 7,332 15,392 30,039 718 30,757 Taxation 2,987 1,117 10,730 14,834 (12) 14,822 Earnings after taxation 4,328 6,215 4,662 15,205 730 15,935 Cash fl ow from operations 5,096 5,269 8,158 18,523 6,349 24,872 Less: Net working capital movements (347) 472 (135) (10) 356 346 Cash fl ow from operations excluding net working capital movements 5,443 4,797 8,293 18,533 5,993 24,526

2009 $ MILLION Upstream Upstream Europe Asia [A] Other [B] International Americas Total Revenue (third party and inter-segment) 20,403 6,617 15,316 42,336 12,804 55,140 Share of profi t of equity-accounted investments 1,485 740 983 3,208 644 3,852 Interest and other income 75 379 82 536 116 652 Total revenue and other income 21,963 7,736 16,381 46,080 13,564 59,644 Purchases 7,341 1,187 1,500 10,028 1,618 11,646 Production and manufacturing expenses 3,229 1,705 3,548 8,482 5,414 13,896 Taxes other than income tax 322 316 506 1,144 124 1,268 Selling, distribution and administrative expenses 1,555 71 39 1,665 541 2,206 Research and development 415 – – 415 219 634 Exploration 273 276 660 1,209 969 2,178 Depreciation, depletion and amortisation 2,745 1,091 1,508 5,344 4,531 9,875 Interest expense 338 22 138 498 147 645 Earnings before taxation 5,745 3,068 8,482 17,295 1 17,296 Taxation 2,989 454 6,643 10,086 (1,144) 8,942 Earnings after taxation 2,756 2,614 1,839 7,209 1,145 8,354 Cash fl ow from operations 4,724 3,723 4,412 12,859 7,076 19,935 Less: Net working capital movements 894 (84) (372) 438 1,052 1,490 Cash fl ow from operations excluding net working capital movements 3,830 3,807 4,784 12,421 6,024 18,445

2008 $ MILLION Upstream Upstream Europe Asia [A] Other [B] International Americas Total Revenue (third party and inter-segment) 28,979 10,050 25,233 64,262 24,046 88,308 Share of profi t of equity-accounted investments 2,582 1,433 2,065 6,080 1,441 7,521 Interest and other income 2,304 690 446 3,440 684 4,124 Total revenue and other income 33,865 12,173 27,744 73,782 26,171 99,953 Purchases 7,164 2,553 1,910 11,627 5,231 16,858 Production and manufacturing expenses 3,131 1,494 3,465 8,090 5,572 13,662 Taxes other than income tax 502 875 903 2,280 191 2,471 Selling, distribution and administrative expenses 1,431 120 26 1,577 453 2,030 Research and development 481 – – 481 295 776 Exploration 416 185 388 989 1,006 1,995 Depreciation, depletion and amortisation 3,114 1,426 1,943 6,483 3,423 9,906 Interest expense 348 23 111 482 104 586 Earnings before taxation 17,278 5,497 18,998 41,773 9,896 51,669 Taxation 8,469 1,015 12,991 22,475 2,688 25,163 Earnings after taxation 8,809 4,482 6,007 19,298 7,208 26,506 Cash fl ow from operations 12,885 5,644 9,977 28,506 10,175 38,681 Less: Net working capital movements 1,466 314 1,737 3,517 (284) 3,233 Cash fl ow from operations excluding net working capital movements 11,419 5,330 8,240 24,989 10,459 35,448

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OIL AND GAS EXPLORATION AND PRODUCTION ACTIVITIES EARNINGS

Shell subsidiaries

2012 $ MILLION North America South Europe Asia Oceania Africa USA Other[A] America Total Revenue Third parties 4,705 3,981 1,941 2,807 3,573 207 23 17,237 Sales between businesses 10,275 16,450 1,129 10,364 3,906 6,443 1,431 49,998 Total 14,980 20,431 3,070 13,171 7,479 6,650 1,454 67,235 Production costs excluding taxes 2,516 1,582 395 1,540 2,486 2,986 255 11,760 Taxes other than income tax [B] 350 410 322 1,248 39 – 145 2,514 Exploration 347 461 175 699 801 423 198 3,104 Depreciation, depletion and amortisation 1,531 1,222 304 1,261 3,837 2,037 315 10,507 Other (costs)/income (1,331) (3,157) 1,769 322 (563) (2,175) (63) (5,198) Earnings before taxation 8,905 13,599 3,643 8,745 (247) (971) 478 34,152 Taxation charge/(credit) 6,327 10,742 1,104 5,358 (127) (428) 137 23,113 Earnings after taxation 2,578 2,857 2,539 3,387 (120) (543) 341 11,039

$/BOE Revenue 86.35 97.25 70.49 81.42 60.46 68.31 92.39 81.43 Production costs excluding taxes 14.50 7.53 9.07 9.52 20.10 30.67 16.20 14.24 Taxes other than income tax [B] 2.02 1.95 7.39 7.71 0.32 – 9.21 3.04 Exploration 2.00 2.19 4.02 4.32 6.47 4.34 12.58 3.76 Depreciation, depletion and amortisation 8.83 5.82 6.98 7.79 31.02 20.92 20.02 12.73 Other (costs)/income (7.67) (15.03) 40.62 1.99 (4.55) (22.34) (4.00) (6.30) Earnings before taxation 51.33 64.73 83.64 54.06 (2.00) (9.97) 30.37 41.36 Taxation charge/(credit) 36.47 51.13 25.35 33.12 (1.03) (4.40) 8.71 27.99 Earnings after taxation 14.86 13.60 58.30 20.94 (0.97) (5.58) 21.67 13.37

2011 $ MILLION North America South Europe Asia Oceania Africa USA Other [A] America Total Revenue Third parties 5,038 4,227 1,823 3,143 3,369 342 96 18,038 Sales between businesses 10,379 14,495 1,160 10,986 4,016 6,710 1,570 49,316 Total 15,417 18,722 2,983 14,129 7,385 7,052 1,666 67,354 Production costs excluding taxes 2,243 1,301 386 1,453 2,005 2,979 250 10,617 Taxes other than income tax [B] 390 588 300 1,499 59 – 180 3,016 Exploration 288 326 178 493 745 110 126 2,266 Depreciation, depletion and amortisation 1,473 1,008 351 1,181 2,427 1,575 352 8,367 Other income/(costs) (1,670) (3,242) (331) 1,071 797 (2,080) 504 (4,951) Earnings before taxation 9,353 12,257 1,437 10,574 2,946 308 1,262 38,137 Taxation charge/(credit) 6,048 9,748 (15) 6,511 714 165 471 23,642 Earnings after taxation 3,305 2,509 1,452 4,063 2,232 143 791 14,495

$/BOE Revenue 83.64 99.60 65.91 82.19 65.91 78.54 82.99 83.01 Production costs excluding taxes 12.17 6.92 8.53 8.45 17.89 33.18 12.45 13.08 Taxes other than income tax [B] 2.12 3.13 6.63 8.72 0.53 – 8.97 3.72 Exploration 1.56 1.73 3.93 2.87 6.65 1.23 6.28 2.79 Depreciation, depletion and amortisation 7.99 5.36 7.76 6.87 21.66 17.54 17.53 10.31 Other income/(costs) (9.06) (17.25) (7.31) 6.23 7.11 (23.17) 25.11 (6.10) Earnings before taxation 50.74 65.21 31.75 61.51 26.29 3.43 62.86 47.00 Taxation charge/(credit) 32.81 51.86 (0.33) 37.87 6.37 1.84 23.46 29.14 Earnings after taxation 17.93 13.35 32.08 23.63 19.92 1.59 39.40 17.86 [A] Comprises Canada and Greenland. [B] Includes cash paid royalties to governments outside North America.

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2010 $ MILLION North America South Europe Asia Oceania Africa USA Other[A] America Total Revenue Third parties 4,100 2,755 1,674 2,215 3,547 487 121 14,899 Sales between businesses 8,572 10,672 980 8,225 3,153 4,101 1,356 37,059 Total 12,672 13,427 2,654 10,440 6,700 4,588 1,477 51,958 Production costs excluding taxes 2,186 1,106 287 1,244 1,700 2,257 209 8,989 Taxes other than income tax [B] 303 333 284 1,019 100 – 154 2,193 Exploration 335 275 110 294 730 167 125 2,036 Depreciation, depletion and amortisation 2,690 748 436 1,192 1,858 3,178 636 10,738 Other income/(costs) (1,144) (2,748) 2,479 497 (528) (1,324) 72 (2,696) Earnings before taxation 6,014 8,217 4,016 7,188 1,784 (2,338) 425 25,306 Taxation charge/(credit) 2,915 6,752 524 4,564 542 (614) 132 14,815 Earnings after taxation 3,099 1,465 3,492 2,624 1,242 (1,724) 293 10,491

$/BOE Revenue 58.55 73.72 53.86 59.47 50.85 60.72 62.26 60.81 Production costs excluding taxes 10.10 6.07 5.82 7.09 12.90 29.87 8.81 10.52 Taxes other than income tax [B] 1.40 1.83 5.76 5.80 0.76 – 6.49 2.57 Exploration 1.55 1.51 2.23 1.67 5.54 2.21 5.27 2.38 Depreciation, depletion and amortisation 12.43 4.11 8.85 6.79 14.10 42.06 26.81 12.57 Other income/(costs) (5.28) (15.09) 50.30 2.82 (4.01) (17.52) 3.03 (3.15) Earnings before taxation 27.79 45.11 81.50 40.94 13.54 (30.94) 17.91 29.62 Taxation charge/(credit) 13.47 37.07 10.63 25.99 4.11 (8.12) 5.56 17.34 Earnings after taxation 14.32 8.04 70.87 14.95 9.43 (22.82) 12.35 12.28

2009 $ MILLION North America South Europe Asia Oceania Africa USA Other[A] America Total Revenue Third parties 2,945 2,449 1,001 1,613 3,055 348 119 11,530 Sales between businesses 8,271 8,170 877 5,524 2,774 3,334 486 29,436 Total 11,216 10,619 1,878 7,137 5,829 3,682 605 40,966 Production costs excluding taxes 2,729 1,113 177 1,285 1,666 1,963 184 9,117 Taxes other than income tax [B] 322 185 172 465 56 – 68 1,268 Exploration 273 208 196 532 610 177 182 2,178 Depreciation, depletion and amortisation 2,730 937 307 1,233 2,440 1,999 124 9,770 Other income/(costs) (1,064) (2,458) (463) (444) (653) (1,075) (72) (6,229) Earnings before taxation 4,098 5,718 563 3,178 404 (1,532) (25) 12,404 Taxation charge/(credit) 2,886 4,744 69 2,370 (458) (572) (126) 8,913 Earnings after taxation 1,212 974 494 808 862 (960) 101 3,491

$/BOE Revenue 48.96 55.94 38.51 53.95 42.37 47.95 42.54 49.44 Production costs excluding taxes 11.91 5.86 3.63 9.71 12.11 25.56 12.94 11.00 Taxes other than income tax [B] 1.41 0.97 3.53 3.51 0.41 – 4.78 1.53 Exploration 1.19 1.10 4.02 4.02 4.43 2.31 12.80 2.63 Depreciation, depletion and amortisation 11.92 4.94 6.29 9.32 17.74 26.03 8.72 11.79 Other income/(costs) (4.64) (12.95) (9.50) (3.37) (4.74) (14.00) (5.06) (7.52) Earnings before taxation 17.89 30.12 11.54 24.02 2.94 (19.95) (1.76) 14.97 Taxation charge/(credit) 12.60 24.99 1.41 17.91 (3.33) (7.45) (8.86) 10.76 Earnings after taxation 5.29 5.13 10.13 6.11 6.27 (12.50) 7.10 4.21 [A] Comprises Canada and Greenland. [B] Includes cash paid royalties to governments outside North America.

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2008 $ MILLION North America South Europe Asia Oceania Africa USA Other[A] America Total Revenue Third parties 6,210 3,764 170 3,104 5,219 1,131 479 20,077 Sales between businesses 13,771 13,001 1,440 8,429 5,235 1,573 371 43,820 Total 19,981 16,765 1,610 11,533 10,454 2,704 850 63,897 Production costs excluding taxes 2,383 1,331 157 1,207 1,294 750 161 7,283 Taxes other than income tax [B] 501 639 258 882 101 – 90 2,471 Exploration 414 131 143 300 680 180 147 1,995 Depreciation, depletion and amortisation 3,102 1,299 220 1,595 2,166 880 74 9,336 Other income/(costs) (440) (2,107) 8 (20) (76) (330) (41) (3,006) Earnings before taxation 13,141 11,258 840 7,529 6,137 564 337 39,806 Taxation charge/(credit) 8,391 9,098 205 4,505 2,044 11 287 24,541 Earnings after taxation 4,750 2,160 635 3,024 4,093 553 50 15,265

$/BOE Revenue 77.53 88.66 34.99 71.91 77.05 63.69 56.79 75.50 Production costs excluding taxes 9.25 7.01 3.41 7.53 9.54 17.67 10.76 8.61 Taxes other than income tax [B] 1.94 3.38 5.61 5.50 0.74 – 6.01 2.92 Exploration 1.61 0.69 3.11 1.87 5.01 4.24 9.82 2.36 Depreciation, depletion and amortisation 12.04 6.87 4.78 9.95 15.96 20.73 4.94 11.03 Other income/(costs) (1.70) (11.17) 0.17 (0.11) (0.57) (7.77) (2.75) (3.54) Earnings before taxation 50.99 59.54 18.25 46.95 45.23 13.28 22.51 47.04 Taxation charge/(credit) 32.56 48.12 4.45 28.09 15.06 0.25 19.17 29.00 Earnings after taxation 18.43 11.42 13.80 18.86 30.17 13.03 3.34 18.04 [A] Comprises Canada and Greenland. [B] Includes cash paid royalties to governments outside North America.

Shell share of equity-accounted investments

2012–2008 $ MILLION North America South 2012 Europe Asia Oceania[A] Africa USA Other America Total Third party revenue 6,448 12,592 1,441 – 2,715 – 341 23,537 Production costs excluding taxes 411 952 372 – 453 – 41 2,229 Taxes other than income tax [B] 3,574 4,861 111 – 157 – 118 8,821 Exploration 17 391 155 – 10 – – 573 Depreciation, depletion and amortisation 209 1,310 335 – 269 – 41 2,164 Other (costs)/income 390 (128) 80 – (13) – (252) 77 Earnings before taxation 2,627 4,950 548 – 1,813 – (111) 9,827 Taxation 969 1,971 136 – 658 – 26 3,760 Earnings after taxation 1,658 2,979 412 – 1,155 – (137) 6,067 2011 1,504 2,408 300 – 1342 – – 5,554 2010 1,394 1,085 518 – 818 – – 3,815 2009 1,509 552 283 – 767 – (203) 2,908 2008 2,519 467 535 – 1,281 3 165 4,970 [A] Includes Shell’s ownership of 23% of Woodside Petroleum Ltd as from April 2012 (previously: 24% as from November 2010; 34% before that date), a publicly listed company on the Australian Securities Exchange. We have limited access to data; accordingly, the numbers are estimated. [B] Includes cash paid royalties to governments outside North America.

OIL SANDS

OIL SANDS UNIT OPERATING COSTS $/B 2012 2011 2010 2009 2008 Mining and upgrader cash operating costs [A] 41.74 43.00 47.74 32.49 38.15 Depreciation, depletion and amortisation costs 11.73 10.21 6.99 4.88 5.68 Total unit costs 53.47 53.21 54.73 37.37 43.83 [A] Unit cash operating cost deﬁ ned as: operating, selling and general expenses plus cash costs items included in cost of goods sold excluding pre-development and centrally allocated costs divided by synthetic crude sales volumes excluding blend stock.

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PROVED OIL AND GAS RESERVES

The tables present oil and gas reserves on a net basis which means sands reserves have been converted to synthetic crude oil proved that they include the reserves relating to (i) the Shell subsidiaries reserves and from 2009 onwards these are included in the proved excluding the reserves attributable to non-controlling interest holders oil and gas reserves. Moreover, from 2009 onwards bitumen proved in our subsidiaries and (ii) the Shell share of equity-accounted reserves are reported separately. In previous years, the bitumen investments. Proven minable oil sands reserves are reported separately proved reserves were included in the reported proved oil and gas for 2008. As a result of SEC rule changes, these proven minable oil reserves in Canada.

PROVED CRUDE OIL AND NATURAL GAS LIQUIDS, SYNTHETIC CRUDE OIL AND BITUMEN RESERVES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][B][C] (AT DECEMBER 31) MILLION BARRELS 2012 2011 2010 2009 2008 Europe 793 754 617 526 491 Asia 1,706 1,664 2,080 1,830 1,562 Oceania 174 209 109 135 124 Africa 672 718 737 725 590 North America – USA 903 838 843 710 588 North America – Canada Oil and NGL 33 35 35 38 48 Synthetic crude oil 1,763 1,680 1,567 1,599 Bitumen 49 55 51 57 South America 87 82 89 57 32 Total including year-average/end price effects 6,180 6,035 6,128 5,677 3,435

PROVED NATURAL GAS RESERVES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][B][C][D] (AT DECEMBER 31) THOUSAND MILLION SCF 2012 2011 2010 2009 2008 Europe 14,168 15,401 15,566 15,835 15,732 Asia 16,305 16,943 18,194 19,797 18,791 Oceania 6,610 7,094 6,149 6,632 3,100 Africa 2,234 2,791 2,981 3,033 1,759 North America – USA 2,352 3,259 2,745 2,323 2,402 North America – Canada 1,011 2,045 1,308 1,172 1,231 South America 99 110 160 243 303 Total including year-average/end price effects 42,779 47,643 47,103 49,035 43,318

PROVEN MINABLE OIL SANDS RESERVES (AT DECEMBER 31) MILLION BARRELS 2008 Total including year-end price effects 997

TOTAL PROVED OIL AND GAS RESERVES [A][B][C][E][F] (AT DECEMBER 31) MILLION BOE 2012 2011 2010 2009 2008 Europe 3,236 3,409 3,301 3,256 3,203 Asia 4,517 4,585 5,217 5,243 4,802 Oceania 1,314 1,432 1,169 1,278 659 Africa 1,057 1,200 1,250 1,249 893 North America – USA 1,309 1,400 1,316 1,111 1,002 North America – Canada 2,019 2,123 1,879 1,896 1,257 South America 104 101 117 99 84 Total including year-average/end price effects 13,556 14,250 14,249 14,132 11,900 Year-average/end price effects (431) (235) (198) 260 19 [A] 2009–2012 includes proved reserves associated with future production that will be consumed in operations. These volumes were not included in 2008. [B] Total attributable to Royal Dutch Shell plc shareholders. [C] Year-end price effect for 2008; year-average price effect for 2009–2012. [D] These quantities have not been adjusted to standard heat content. [E] Natural gas volumes are converted to oil equivalent using a factor of 5,800 scf per barrel. Rounding difference may occur in estimate of gas reserves conversion from scf to boe. [F] Proven minable oil sands included for 2008.

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Changes The tables present changes in the reserves of (i) Shell subsidiaries without deduction of the reserves attributable to non-controlling interest holders in our subsidiaries and (ii) the Shell share of equity- accounted investments. Changes in proven minable oil sands reserves are reported separately for 2008. As a result of SEC rule changes, these proven minable oil sands reserves have been converted to synthetic crude oil proved reserves and from 2009 onwards these are included in the proved oil and gas reserves.

PROVED CRUDE OIL AND NATURAL GAS LIQUIDS, SYNTHETIC CRUDE OIL AND BITUMEN RESERVES CHANGES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][C] (AT DECEMBER 31) MILLION BARRELS 2012 2011 2010 2009 2008 Revisions and reclassiﬁ cations 629 190 856 1,205[B] 242 Improved recovery 13 34 66 42 54 Extensions and discoveries 88 326 161 617 51 Purchases of minerals in place 82 – 59 – 4 Sales of minerals in place (66) (37) (57) (1) (65) Total additions including year-average/end price effects 746 513 1,085 1,863 286 Production (598) (611) (626) (616) (619)

PROVED NATURAL GAS RESERVES CHANGES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][C][D] (AT DECEMBER 31) THOUSAND MILLION SCF 2012 2011 2010 2009 2008 Revisions and reclassiﬁ cations (1,343) 899 829 4,688 4,184 Improved recovery 16 3 42 1 – Extensions and discoveries 667 3,504 1,288 4,326 968 Purchases of minerals in place 161 – 237 16 448 Sales of minerals in place (684) (394) (743) – (19) Total additions including year-average/end price effects (1,183) 4,012 1,653 9,031 5,581 Production (3,687) (3,485) (3,573) (3,315) (3,137)

PROVEN MINABLE OIL SANDS RESERVES CHANGES (AT DECEMBER 31) MILLION BARRELS 2008 Revisions and reclassiﬁ cations (85) Extensions and discoveries – Total additions including year-end price effects (85) Production (29)

TOTAL PROVED OIL AND GAS RESERVES CHANGES [A][C][E][F] (AT DECEMBER 31) MILLION BOE 2012 2011 2010 2009 2008 Revisions and reclassiﬁ cations 397 345 999 2,013[B] 878 Improved recovery 16 35 73 42 54 Extensions and discoveries 203 930 383 1,363 219 Purchases of minerals in place 110 – 100 3 81 Sales of minerals in place (184) (105) (185) (1) (68) Total additions including year-average/end price effects 542 1,205 1,370 3,420 1,164 Year-average/end price effects (431) (235) (198) 260 19 Total additions excluding year-average/end price effects 973 1,440 1,568 3,160 1,145 Total additions excluding acquisitions and divestments and excluding year-average/end price effects 1,047 1,545 1,653 3,158 1,132 Production (1,234) (1,212) (1,242) (1,187) (1,189) [A] 2009–2012 includes proved reserves associated with future production that will be consumed in operations. These volumes were not included in 2008. [B] Excludes the 997 million barrels of previously booked proven minable oil sands reserves. [C] Year-end price effect for 2008; year-average price effect for 2009–2012. [D] These quantities have not been adjusted to standard heat content. [E] Natural gas volumes are converted to oil equivalent using a factor of 5,800 scf per barrel. Rounding difference may occur in estimate of gas reserves conversion from scf to boe. [F] Proven minable oil sands included for 2008.

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Changes by region 2012

PROVED CRUDE OIL AND NATURAL GAS LIQUIDS, SYNTHETIC CRUDE OIL AND BITUMEN RESERVES CHANGES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A] (AT DECEMBER 31) MILLION BARRELS North America South Europe Asia Oceania Africa USA Canada America Total Oil and Oil and Oil and Oil and Oil and Oil and Synthetic Oil and NGL NGL NGL NGL NGL NGL crude oil Bitumen NGL All products Revisions and reclassiﬁ cations 19 270 6 95 90 3 131 1 14 629 Improved recovery – 6 – – 7 – – – – 13 Extensions and discoveries 44 4 – 1 30 1 – 1 7 88 Purchases of minerals in place 56 – – – 26 – – – – 82 Sales of minerals in place – – (25) (33) (6) (1) – (1) – (66) Total additions including year- average price effects 119 280 (19) 63 147 3 131 1 21 746 Production (80) (238) (16) (106) (82) (5) (48) (7) (16) (598)

PROVED NATURAL GAS RESERVES CHANGES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][B] THOUSAND MILLION SCF North America South Europe Asia Oceania Africa USA Canada America Total Revisions and reclassiﬁ cations (75) 444 151 (142) (1,045) (683) 7 (1,343) Improved recovery – – – – 16 – – 16 Extensions and discoveries 71 26 – 89 393 84 4 667 Purchases of minerals in place 22 – – – 139 – – 161 Sales of minerals in place – – (324) (163) (6) (191) – (684) Total additions including year- average price effects 18 470 (173) (216) (503) (790) 11 (1,183) Production (1,251) (1,112) (311) (343) (404) (244) (22) (3,687)

TOTAL PROVED RESERVES CHANGES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [ A][ C] MILLION BOE North America South Europe Asia Oceania Africa USA Canada America Total Oil, NGL Oil, NGL Oil, NGL Oil, NGL Oil, NGL Oil, NGL Synthetic Oil, NGL and gas and gas and gas and gas and gas and gas crude oil Bitumen and gas All products Revisions and reclassiﬁ cations 6 347 33 70 (91) (115) 131 1 15 397 Improved recovery – 6 – – 10 – – – – 16 Extensions and discoveries 57 8 – 16 98 15 – 1 8 203 Purchases of minerals in place 60 – – – 50 – – – – 110 Sales of minerals in place – – (81) (61) (7) (34) – (1) – (184) Total additions including year- average price effects 123 361 (48) 25 60 (134) 131 1 23 542 Year- average price effect (431) Production (296) (430) (70) (165) (151) (47) (48) (7) (20) (1,234) Reserves replacement ratio excluding acquisitions and divestments and year-average price effects 85% Total additions excluding acquisitions and divestments and including year-average price effects 50% Reserves replacement ratio including acquisitions and divestments and year-average price effects 44% [A] Includes proved reserves associated with volumes consumed in operations. [B] These quantities have not been adjusted to standard heat content. [C] Natural gas volumes are converted to oil equivalent using a factor of 5,800 scf per barrel. Rounding difference may occur in estimate of gas reserves conversion from scf to boe.

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OIL, GAS, SYNTHETIC CRUDE OIL AND BITUMEN PRODUCTION

CRUDE OIL AND NATURAL GAS LIQUIDS PRODUCTION AVAILABLE FOR SALE [A] THOUSAND B/D 2012 2011 2010 2009 2008 SUBS EAI SUBS EAI SUBS EAI SUBS EAI SUBS EAI Europe Denmark 73 – 88 – 98 – 107 – 114 – Italy 39 – 35 – 33 – 30 – 32 – Norway 40 – 37 – 48 – 62 – 67 – UK 60 – 71 – 98 – 110 – 154 – Other [B] 3 4 3 5 3 5 3 5 3 5 Total Europe 215 4 234 5 280 5 312 5 370 5 Asia Brunei 2 73 2 76 3 77 2 76 1 80 Malaysia 41 – 40 – 40 – 39 – 38 – Oman 205 – 200 – 199 – 195 – 192 – Russia – 104 – 117 – 117 – 106 – 70 United Arab Emirates – 145 – 144 – 135 – 127 – 146 Other [B] 59 23 40 20 29 1 42 1 51 1 Total Asia 307 345 282 357 271 330 278 310 282 297 Total Oceania 27 18 30 18 30 29 30 35 29 39 Africa Gabon 38 – 44 – 34 – 29 – 30 – Nigeria 240 – 262 – 302 – 231 – 266 – Other [B] 12 – 20 – 20 – 24 – 22 – Total Africa 290 – 326 – 356 – 284 – 318 – North America USA 155 67 141 70 163 74 195 78 190 82 Other [B] 15 – 18 – 20 – 20 – 46[C] – Total North America 170 67 159 70 183 74 215 78 236 82 South America Brazil 34 – 45 – 53 – 24 – 23 – Other [B] 1 10 1 9 1 7 1 9 1 11 Total South America 35 10 46 9 54 7 25 9 24 11 Total 1,044 444 1,077 459 1,174 445 1,144 437 1,259 434 [A] Includes natural gas liquids. Royalty purchases are excluded. Refl ects 100% of production attributable to subsidiaries except in respect of PSCs, where the fi gures shown represent the entitlement of the subsidiaries concerned under those contracts. [B] Comprises countries where 2012 production was lower than 20 thousand b/d or where specifi c disclosures are prohibited. [C] Includes bitumen production.

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NATURAL GAS PRODUCTION AVAILABLE FOR SALE [A] MILLION SCF/D 2012 2011 2010 2009 2008 SUBS EAI SUBS EAI SUBS EAI SUBS EAI SUBS EAI Europe Denmark 202 – 256 – 328 – 335 – 406 – Germany 217 – 253 – 267 – 311 – 333 – The Netherlands – 1,808 – 1,767 – 1,997 – 1,639 – 1,741 Norway 713 – 618 – 643 – 593 – 492 – UK 328 – 403 – 541 – 561 – 678 – Other [B] 43 – 41 – 38 – 31 – 29 – Total Europe 1,503 1,808 1,571 1,767 1,817 1,997 1,831 1,639 1,938 1,741 Asia Brunei 51 512 52 524 55 497 44 473 51 499 China 131 – 174 – 253 – 257 – 231 – Malaysia 572 – 763 – 807 – 886 – 874 – Russia – 374 – 382 – 359 – 192 – – Other [B] 795 317 363 246 209 – 217 – 205 – Total Asia 1,549 1,203 1,352 1,152 1,324 856 1,404 665 1,361 499 Oceania Australia 352 243 373 167 404 204 383 216 345 215 New Zealand 182 – 175 – 202 – 218 – 216 – Total Oceania 534 243 548 167 606 204 601 216 561 215 Africa Egypt 141 – 133 – 137 – 163 – 145 – Nigeria 740 – 707 – 587 – 292 – 552 – Total Africa 881 – 840 – 724 – 455 – 697 – North America USA 1,062 5 961 6 1,149 4 1,055 6 1,048 5 Canada 616 – 570 – 563 – 530 – 406 – Total North America 1,678 5 1,531 6 1,712 4 1,585 6 1,454 5 Total South America 44 1 51 1 61 – 81 – 98 – Total 6,189 3,260 5,893 3,093 6,244 3,061 5,957 2,526 6,109 2,460 [A] Refl ects 100% of production attributable to subsidiaries except in respect of PSCs, where the fi gures shown represent the entitlement of the subsidiaries concerned under those contracts. [B] Other comprises countries where 2012 production was lower than 115 million scf/d or where specifi c disclosures are prohibited.

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TOTAL PRODUCTION AVAILABLE FOR SALE [A][B] THOUSAND BOE/D 2012 2011 2010 2009 2008 SUBS EAI SUBS EAI SUBS EAI SUBS EAI SUBS EAI Europe Denmark 108 – 132 – 155 – 164 – 184 – Germany 40 – 47 – 49 – 57 – 60 – Italy 46 – 42 – 40 – 35 – 37 – The Netherlands – 316 – 310 – 349 – 287 – 305 Norway 163 – 144 – 159 164 – 152 – UK 117 – 140 – 191 – 207 – 271 – Total Europe 474 316 505 310 594 349 627 287 704 305 Asia Brunei 11 161 11 166 12 163 10 157 10 166 China 22 – 30 – 48 – 56 – 54 – Malaysia 140 – 172 – 179 – 192 – 189 – Oman 205 – 200 – 199 – 195 – 192 – Russia – 168 – 183 – 179 – 139 – 70 United Arab Emirates – 145 – 144 – 135 – 127 – 146 Other [C] 196 78 102 62 61 1 68 1 72 1 Total Asia 574 552 515 555 499 478 521 424 517 383 Oceania Australia 79 60 84 47 88 65 85 72 77 76 New Zealand 40 – 40 – 47 – 49 – 49 – Total Oceania 119 60 124 47 135 65 134 72 126 76 Africa Egypt 36 – 43 – 44 – 53 – 47 – Gabon 38 – 44 – 34 – 29 – 30 – Nigeria 368 – 384 – 403 – 281 – 361 – Total Africa 442 – 471 – 481 – 363 – 438 – North America USA 338 68 307 71 361 74 377 79 370 83 Canada 121 – 116 – 117 – 111 – 116[D] – Total North America 459 68 423 71 478 74 488 79 486 83 South America Brazil 35 – 46 – 54 – 27 – 29 – Other [C] 8 10 9 9 10 7 12 9 12 11 Total South America 43 10 55 9 64 7 39 9 41 11 Total oil and gas production 2,111 1,006 2,093 992 2,251 973 2,172 871 2,312 858 Synthetic oil production 125 – 115 – 72 – 80 – – – Bitumen production 20 – 15 – 18 – 19 – – – Mined oil sands production – – – – – – – – 78 – Grand total 2,256 1,006 2,223 992 2,341 973 2,271 871 2,390 858 [A] Natural gas volumes are converted to oil equivalent using a factor of 5,800 scf per barrel. [B] Includes natural gas liquids. Royalty purchases are excluded. Refl ects 100% of production attributable to subsidiaries except in respect of PSCs, where the fi gures shown represent the entitlement of the subsidiaries concerned under those contracts. [C] Other comprises countries where 2012 production was lower than 20 thousand boe/d or where specifi c disclosures are prohibited. [D] Includes bitumen production.

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ACREAGE AND WELLS

The tables below reﬂ ect Shell subsidiaries and equity-accounted investments have an interest. The term “net” refers to the sum of the investments acreage and wells. The term “gross” refers to the fractional interests owned by Shell subsidiaries plus the Shell share total activity in which Shell subsidiaries and equity-accounted of equity-accounted investments’ fractional interests.

OIL AND GAS ACREAGE (AT DECEMBER 31) THOUSAND ACRES 2012 2011 Developed Undeveloped Developed Undeveloped Gross Net Gross Net Gross Net Gross Net Europe 9,091 2,659 5,844 1,964 9,016 2,586 6,688 2,376 Asia 26,989 9,400 53,460 26,604 27,268 9,810 48,554 25,779 Oceania 1,703 467 70,575 26,469 1,798 500 67,907 26,326 Africa 5,428 2,299 30,404 23,460 6,060 2,465 20,706 15,364 North America – USA 1,837 1,176 8,878 6,990 1,592 984 7,815 6,140 North America – Other [A] 1,181 785 36,179 27,349 1,101 757 31,573 23,849 South America 162 76 17,242 9,668 162 76 20,655 8,905 Total 46,391 16,862 222,582 122,504 46,997 17,178 203,898 108,739 [A] Comprises Canada and Greenland. Greenland acreage has been reclassiﬁ ed from Europe to North America – Other at December 31, 2010.

NUMBER OF PRODUCTIVE WELLS [A] (AT DECEMBER 31) 2012 2011 Oil Gas Oil Gas Gross Net Gross Net Gross Net Gross Net Europe 1,431 425 1,266 398 1,454 427 1,317 430 Asia 7,200 2,316 243 116 7,361 2,352 289 162 Oceania 48 5 574 217 48 5 557 212 Africa 837 324 95 62 883 357 98 65 North America – USA 15,108 7,630 4,618 2,808 14,993 7,607 3,449 2,222 North America – Canada 460 393 1,165 880 476 406 1,115 906 South America 73 29 7 2 67 33 7 2 Total 25,157 11,122 7,968 4,483 25,282 11,187 6,832 3,999 [A] The number of productive wells with multiple completions (more than one formation producing into the same well bore) was 1,923 gross at December 31,2012 (net 696); 2011: 1,997 gross (net 739); 2010: 2,011 gross (net 779).

NUMBER OF NET PRODUCTIVE WELLS AND DRY HOLES DRILLED (AT DECEMBER 31) 2012 2011 Productive Dry Productive Dry Exploratory [A] Europe 1 1 1 1 Asia 3 4 6 97 Oceania – 1 – 2 Africa 3 7 3 5 North America – USA 124 3 70 2 North America – Canada 37 9 21 4 South America – 1 1 1 Total 168 26 102 112 Development Europe 9 – 12 1 Asia 255 4 196 8 Oceania 7 – – – Africa 25 – 23 2 North America – USA 352 – 347 2 North America – Canada 49 2 102 1 South America 1 – 1 – Total 698 6 681 14 [A] Productive wells are wells with proved reserves allocated.

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OIL AND GAS ACREAGE (AT DECEMBER 31) THOUSAND ACRES 2010 2009 2008 Developed Undeveloped Developed Undeveloped Developed Undeveloped Gross Net Gross Net Gross Net Gross Net Gross Net Gross Net Europe 8,983 2,550 8,165 3,265 9,045 2,592 9,770 3,653 9,646 2,785 8,924 3,038 Asia 27,496 9,970 41,781 22,800 30,969 11,108 78,382 40,547 31,252 11,260 74,749 36,811 Oceania 2,274 553 81,748 24,413 2,276 568 82,945 24,326 2,146 552 79,548 23,052 Africa 6,701 2,424 23,327 17,079 7,393 2,615 27,096 18,656 7,314 2,582 26,959 20,289 North America – USA 1,568 952 7,003 5,834 1,030 597 6,250 5,027 1,009 593 6,238 4,973 North America – Other 1,002 664 31,501 21,489 966 628 26,712 19,448 1,025 707 27,792 19,546 South America 162 76 15,878 6,588 126 59 18,081 7,178 115 53 4,387 1,877 Total 48,186 17,189 209,403 101,468 51,805 18,167 249,236 118,835 52,507 18,532 228,597 109,586

NUMBER OF PRODUCTIVE WELLS (AT DECEMBER 31) 2010 2009 2008 Oil Gas Oil Gas Oil Gas Gross Net Gross Net Gross Net Gross Net Gross Net Gross Net Europe 1,464 412 1,341 443 1,544 423 1,343 446 1,569 422 1,323 440 Asia 7,236 2,382 298 164 6,751 2,250 207 99 6,043 2,038 200 95 Oceania 39 4 608 211 39 6 566 122 42 9 319 60 Africa 1,180 447 89 59 1,150 415 80 53 1,163 420 79 49 North America – USA 15,322 7,771 3,884 2,457 15,425 7,835 1,640 1,170 15,505 7,828 1,412 1,037 North America – Canada 433 370 1,007 764 446 382 947 713 429 365 888 665 South America 73 34 6 1 72 32 12 5 68 29 12 5 Total 25,747 11,420 7,233 4,099 25,427 11,343 4,795 2,608 24,819 11,111 4,233 2,351

NUMBER OF NET PRODUCTIVE WELLS AND DRY HOLES DRILLED (AT DECEMBER 31) 2010 2009 2008 Productive Dry Productive Dry Productive Dry Exploratory Europe 2 4 4 3 6 3 Asia 8 28 30 10 20 4 Oceania – 2 1 3 – 2 Africa 8 5 7 4 6 4 North America – USA 75 5 16 2 7 4 North America – Canada 29 8 21 19 17 46 South America 1 1 1 – – 1 Total 123 53 80 41 56 64 Development Europe 20 1 15 – 7 1 Asia 269 4 260 3 210 1 Oceania 3 – 27 – 3 – Africa 11 – 12 1 17 1 North America – USA 388 – 424 1 475 1 North America – Canada 34 – 45 – 59 – South America 1 – 5 – 2 – Total 726 5 788 5 773 4

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LNG AND GTL

LNG REGASIFICATION TERMINALS (AT DECEMBER 31, 2012) Project name Location Shell capacity rights (mtpa) Capacity right period Status Shell interest (%) Start-up date Altamira Tamaulipas, Mexico 3.3[A] from 2006 In operation Leased 2006 Barcelona Barcelona, Spain 0.1 2010–2020[B] In operation Leased 1969 Costa Azul Baja California, Mexico 2.9 2008–2028 In operation Leased 2008 Cove Point Lusby, MD, USA 1.8 2003–2023 In operation Leased 2003 Elba Expansion Elba Island, GA, USA 4.2 2010–2035 In operation Leased 2010 Elba Island Elba Island, GA, USA 2.8 2006–2036 In operation Leased 2006 Hazira Gujarat, India 2.2[C] from 2005 In operation 74 2005 Hazira Expansion Gujarat, India 1.5[C] from 2013 Under construction 74 2013 [A] 100% capacity rights are held by Gas del Litoral JV with which Shell has a contract to supply 75% of the volumes. [B] Capacity rights have a cancellation notice period of three months. [C] 100% capacity rights are held by Hazira JV with which Shell has a contract to supply 74% of the volumes.

LNG LIQUEFACTION PLANTS IN OPERATION LNG LIQUEFACTION PLANTS UNDER CONSTRUCTION (AT DECEMBER 31, 2012) (AT DECEMBER 31, 2012) Shell interest 100% capacity Shell interest 100% capacity Location (%)[A] (mtpa)[B] Location (%) (mtpa) Australia North West Shelf Karratha 21 16.3 Gorgon Barrow Island 25.0 15.3 Australia Pluto 1 Karratha 21[C] 4.3 Prelude Offshore Australia 72.5[A] 3.6 Brunei LNG Lumut 25 7.8 Wheatstone Onslow 6.4 8.9 Malaysia LNG (Dua and Tiga) Bintulu 15 17.3[D] [A] We divested a further 5% interest in Prelude during the ﬁ rst quarter 2013, Nigeria LNG Bonny 26 22.0 reducing our interest to 67.5%. Oman LNG Sur 30 7.1 Qalhat (Oman) LNG Sur 11 3.7 Qatargas 4 Ras Laffan 30 7.8 GTL PLANTS IN OPERATION (AT DECEMBER 31, 2012) Sakhalin LNG Prigorodnoye 27.5 9.6 Shell interest 100% capacity [A] Interest may be held via indirect shareholding. Country (%) (b/d) [B] As reported by the operator. Bintulu Malaysia 72 14,700 [C] Based on 90% Woodside shareholding in the Pluto 1 plant. Pearl Qatar 100 140,000 [D] Our interests in Dua and Tiga plants are due to expire in 2015 and 2023 respectively.

SHELL SHARE OF LNG SALES VOLUMES MILLION TONNES 2012 2011 2010 2009 2008 Australia 3.6 3.1 3.4 3.2 2.6 Brunei 1.7 1.7 1.7 1.6 1.8 Malaysia 2.5 2.4 2.4 2.2 2.3 Nigeria 5.1 5.0 4.5 2.9 4.2 Oman 1.9 2.0 2.0 2.1 2.2 Qatar 2.4 1.7 – – – Sakhalin 3.0 2.9 2.8 1.4 – Total 20.2 18.8 16.8 13.4 13.1

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DOWNSTREAM DATA

OIL PRODUCTS AND REFINING LOCATIONS

The tables below reﬂ ect Shell subsidiaries, the 50% Shell interest or feedstock processed by a reﬁ nery. Other equity-accounted in Motiva in the USA and instances where Shell owns the crude investments are only included where explicitly stated.

REFINERY AVAILABILITY % 2012 2011 2010 2009 2008 Average worldwide 93 92 92 93 91

COST OF CRUDE OIL PROCESSED OR CONSUMED [A] $/B 2012 2011 2010 2009 2008 Total 106.82 104.71 77.22 58.96 94.05

CRUDE DISTILLATION CAPACITY [B] THOUSAND B/CALENDAR DAY [C] 2012 2011 2010 2009 2008 Europe 1,243 1,243 1,501 1,519 1,601 Asia-Paciﬁ c 822 861 855 853 861 Americas 1,212 1,064 1,155 1,185 1,154 Other 82 83 82 82 82 Total 3,360 3,251 3,594 3,639 3,698

OIL PRODUCTS – CRUDE OIL PROCESSED [D] THOUSAND B/D 2012 2011 2010 2009 2008 Europe 1,069 1,058 1,306 1,323 1,428 Asia-Paciﬁ c 704 731 729 593 790 Americas 1,024 985 1,007 1,013 1,073 Other 220 200 222 214 203 Total 3,017 2,974 3,264 3,143 3,494

REFINERY PROCESSING INTAKE [E] THOUSAND B/D 2012 2011 2010 2009 2008 Crude oil 2,620 2,652 2,939 2,819 3,122 Feedstocks 199 193 258 248 266 2,819 2,845 3,197 3,067 3,388 Europe 970 1,041 1,314 1,330 1,481 Asia-Paciﬁ c 670 666 650 532 656 Americas 1,117 1,075 1,158 1,141 1,178 Other 62 63 75 64 73 Total 2,819 2,845 3,197 3,067 3,388

REFINERY PROCESSING OUTTURN [ F] THOUSAND B/D 2012 2011 2010 2009 2008 Gasolines 995 993 1,224 1,179 1,229 Kerosines 321 339 354 341 375 Gas/diesel oils 996 977 1,074 1,025 1,145 Fuel oil 256 252 315 279 315 Other products 452 385 442 432 471 Total 3,020 2,946 3,409 3,256 3,535 [A] Includes Upstream margin on crude oil supplied by Shell and equity-accounted investment exploration and production companies. [B] Average operating capacity for the year, excluding mothballed capacity. [C] Calendar day capacity is the maximum sustainable capacity adjusted for normal unit down time. [D] Includes natural gas liquids, share of equity-accounted investments and processing for others. [E] Includes crude oil, natural gas liquids and feedstocks processed in crude oil distillation units and in secondary conversion units. [F] Excludes “own use” and products acquired for blending purposes.

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REFINERIES IN OPERATION (AT DECEMBER 31, 2012) Thousand b/calendar day, 100% capacity[B] Shell Crude distillation Thermal cracking/ Catalytic Hydro- Location Asset class interest % [A] capacity visbreaking/coking cracking cracking Europe Czech Republic Kralupy [C] 16 59 – 24 – Litvinov [C] 16 101 14 – 30 Denmark Fredericia l 100 63 40 – – Germany Harburg l 100 108 14 15 – Miro [C] 32 310 65 89 – Rheinland nl 100 327 57 – 79 Schwedt [C] 38 220 47 50 – The Netherlands Pernis nl 90 404 45 48 81 Norway Mongstad [C] l 21 205 23 55 – Asia-Paciﬁ c Australia Geelong u 100 118 – 38 – Japan Mizue (Toa) [C] ul 18 60 23 38 – Yamaguchi [C] u 13 110 – 25 – Yokkaichi [C] ul 26 193 – 55 – Malaysia Port Dickson u 51 107 – 39 – Pakistan Karachi [C] 30 43 – – – Philippines Tabangao 67 96 31 – – Singapore Pulau Bukom nl 100 462 63 34 55 Turkey Batman [C] 1 23 – – – Izmir [C] 1 217 17 14 18 Izmit [C] 1 217 – 13 25 Kirikale [C] 1 106 – – 16 Americas Argentina Buenos Aires ul 100 100 18 20 – Canada Alberta Scotford u 100 92 – – 62 Ontario Sarnia u 100 71 5 19 9 USA California Martinez l 100 145 42 65 37 Louisiana Convent [C] u 50 227 – 82 45 Norco [C] n 50 229 25 107 34 Texas Deer Park nl 50 312 79 63 53 Port Arthur [C] l 50 569 138 81 67 Washington Puget Sound ul 100 137 23 52 – Other Saudi Arabia Al Jubail [C] ul 50 292 62 – 45 South Africa Durban [C] u 38 165 23 34 – [A] Shell interest rounded to nearest whole percentage point; Shell share of production capacity may differ. [B] Calendar day capacity is the maximum sustainable capacity adjusted for normal unit downtime. [C] Not operated by Shell.

n Integrated refi nery and chemical complex. l Refi nery complex with cogeneration capacity. u Refi nery complex with chemical unit(s).

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OIL SALES AND RETAIL SITES

OIL PRODUCT SALES VOLUMES [A] THOUSAND B/D SALES BY PRODUCT AS PERCENTAGE 2012 2011 2010 2009 2008 OF TOTAL PRODUCT SALES % Europe 2012 2011 2010 2009 2008 Gasolines 450 467 505 520 531 Gasolines 33.3 33.5 32.7 33.7 31.2 Kerosines 234 261 299 267 294 Kerosines 11.8 12.6 12.8 12.0 12.1 Gas/diesel oils 909 876 953 1,003 1,148 Gas/diesel oils 33.9 32.2 32.5 33.0 34.3 Fuel oil 180 227 205 210 343 Fuel oil 10.2 10.5 10.4 9.8 11.3 Other products 184 192 227 242 249 Other products 10.8 11.2 11.6 11.5 11.1 Total 1,957 2,023 2,189 2,242 2,565 Total 100.0 100.0 100.0 100.0 100.0 Asia-Paciﬁ c Gasolines 319 315 308 303 298 Kerosines 176 164 172 159 166 BRANDED RETAIL SITES YEAR-END NUMBER Gas/Diesel oils 445 423 370 337 330 2012 2011 2010 2009 2008 Fuel oil 304 273 301 187 196 Europe 10,470 10,417 10,863 11,406 11,605 Other products 227 220 224 214 191 Asia-Paciﬁ c 9,171 9,489 9,784 9,624 10,115 Total 1,471 1,395 1,375 1,200 1,181 Americas 22,322 22,359 20,141 20,691 20,500 Americas Other 2,089 2,001 2,028 2,191 2,385 Gasolines 1,123 1,136 1,128 1,107 1,091 Total 44,052 44,266 42,816 43,912 44,605 Kerosines 264 265 270 246 256 Gas/Diesel oils 528 461 523 465 543 Fuel oil 89 91 90 130 117 Other products 233 236 249 208 241 Total 2,237 2,189 2,260 2,156 2,248 Other Gasolines 184 156 174 141 131 Kerosines 60 93 86 69 76 Gas/Diesel oils 230 236 253 226 233 Fuel oil 64 60 75 77 86 Other products 32 44 48 45 48 Total 570 589 636 558 574 Total product sales [B][C] Gasolines 2,076 2,074 2,115 2,071 2,051 Kerosines 734 783 827 741 792 Gas/diesel oils 2,112 1,996 2,099 2,031 2,254 Fuel oil 637 651 671 604 742 Other products 676 692 748 709 729 Total 6,235 6,196 6,460 6,156 6,568 [A] Excludes deliveries to other companies under reciprocal sale and purchase arrangements, which are in the nature of exchanges. Sales of condensate and natural gas liquids are included. [B] Certain contracts are held for trading purposes and reported net rather than gross. The effect in 2012 was a reduction in oil product sales of approximately 856 thousand b/d (2011: 925 thousand b/d; 2010: 934 thousand b/d; 2009: 739 thousand b/d; 2008: 698 thousand b/d). [C] Export sales as a percentage of total oil products sales volumes amounted to 27.9% in 2012 (2011: 26.0%; 2010: 24.1%; 2009: 20.0%; 2008: 20.7%).

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CHEMICALS AND MANUFACTURING LOCATIONS

CHEMICAL PLANT AVAILABILITY % 2012 2011 2010 2009 2008 Average worldwide 91 89 94 92 94

CHEMICALS SALES VOLUMES [A] THOUSAND TONNES 2012 2011 2010 2009 2008 Europe Base chemicals 3,771 4,006 4,507 4,610 5,531 First-line derivatives and others 2,626 2,689 2,795 2,776 2,941 Total 6,397 6,695 7,302 7,386 8,472 Asia-Paciﬁ c Base chemicals 2,209 2,027 2,209 1,837 1,726 First-line derivatives and others 3,053 3,111 3,415 2,518 2,585 Total 5,262 5,138 5,624 4,355 4,311 Americas Base chemicals 3,336 3,405 3,949 3,396 4,156 First-line derivatives and others 3,145 3,193 3,134 2,698 2,774 Total 6,481 6,598 7,083 6,094 6,930 Other Base chemicals 379 229 461 323 160 First-line derivatives and others 150 171 183 153 454 Total 529 400 644 476 614 Total product sales Base chemicals 9,695 9,667 11,126 10,166 11,573 First-line derivatives and others 8,974 9,164 9,527 8,145 8,754 Total 18,669 18,831 20,653 18,311 20,327 [A] Excludes volumes sold by equity-accounted investments, chemical feedstock trading and by-products.

ETHYLENE CAPACITY [A] 2012 2011 2010 2009 2008 Europe 1,659 1,659 1,878 1,880 1,880 Asia-Paciﬁ c 1,556 1,556 1,565 681 950 Americas 2,212 2,212 2,212 2,255 2,631 Other 366 366 366 366 366 Total 5,793 5,793 6,021 5,182 5,827 [A] Includes the Shell share of equity-accounted investments’ capacity entitlement (offtake rights), which may be different from nominal equity interest. Nominal capacity is quoted as at December 31.

CHEMICAL PRODUCTS AND THEIR MAJOR APPLICATIONS Product group Some typical end uses Base chemicals: Feedstock for petrochemical derivatives typically used for: ethylene, propylene and aromatics polyethylene fi lm for packaging, carrier bags, polypropylene for moulded plastic buckets, food containers, polyvinyl chloride (PVC) for drainpipes Ethylene oxide/glycols (EO/G) Brake fl uids, polyethylene terephthalate (PET) plastics, polyester, packaging, antifreeze Higher olefi ns and derivatives (HODer) Sunscreen, shower gel, automobile interiors, wire insulation, detergents Styrene monomer Polystyrene, fridge insulation, tyres, food containers, crash helmets, fi lm scenery Propylene oxide and derivatives Insulation, foam for bedding and car interiors, engineering plastics, aeroplane de-icers, cosmetics Solvents Pharmaceuticals, paints, mining and metalworking fl uids, adhesives, inks, hand sanitisers Phenol Plywood, kitchen worktops, fi breglass boats, car parts, CDs, circuit boards

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MAJOR CHEMICAL PLANTS IN OPERATION [A] (AT DECEMBER 31, 2012) THOUSAND TONNES/YEAR Location Ethylene Styrene monomer Ethylene glycol Higher olefi ns[B] Additional products[C] Europe Germany Rheinland 272 – – – A The Netherlands Moerdijk 972 789 155 – A, I UK Mossmorran [D] 415 – – – – Stanlow [D] – – – 330 I Asia-Pacifi c China Nanhai [D] 475 320 175 – A, I, P Japan Yamaguchi [D] – – – 11 A, I Singapore Jurong Island 281 720 940 – A, I, P, O Pulau Bukom 800 – – – A, I Americas Canada Scotford – 450 450 – A, I USA Deer Park 836 – – – A, I Geismar – – 375 920 I Norco 1,376 – – – A Other Saudi Arabia Al Jubail [D] 366 400 – – A, O Total 5,793 2,679 2,095 1,261 [A] Includes joint-venture plants, with the exception of the Infi neum additives joint ventures. [B] Higher olefi ns are linear alpha and internal olefi ns (products range from C6-C2024). [C] A: Aromatics/ lower olefi ns. I: Intermediates. P: Polyethylene, polypropylene. O: Other. [D] Not operated by Shell.

OTHER CHEMICAL LOCATIONS Location Products[A] Europe Germany Harburg I Karlsruhe A Schwedt A The Netherlands Pernis A, I, O Asia-Paciﬁ c Australia Geelong A, I Japan Kawasaki A, I Yokkaichi A Malaysia Bintulu I Port Dickson A Americas Argentina Buenos Aires I Canada Sarnia A, I USA Martinez O Mobile A Puget Sound O Other South Africa Durban I [A] A: Aromatics/ lower ole ﬁ ns. I: Intermediates. O: Other.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 79 08-05-13 14:53 ADDITIONAL INVESTOR INFORMATION

SHARE INFORMATION

The following table shows the high, low and year-end prices of the Company’s registered ordinary shares:

§ of €0.07 nominal value on the London Stock Exchange; § of €0.07 nominal value on Euronext Amsterdam; and § in the form of ADSs on the New York Stock Exchange (ADSs do not have a nominal value).

SHARE PRICES Euronext Amsterdam New York Stock Exchange A shares A ADSs High Low Year -end High Low Year -end € € € $ $ $ 2008 29.63 16.25 18.75 88.73 41.62 52.94 2009 21.46 15.27 21.10 63.75 38.29 60.11 2010 25.28 19.53 24.73 68.54 49.16 66.78 2011 28.40 20.12 28.15 77.96 57.97 73.09 2012 29.18 24.30 25.98 74.51 60.62 68.95 London Stock Exchange New York Stock Exchange B shares B ADSs High Low Year -end High Low Year -end pence pence pence $ $ $ 2008 2,245 1,223 1,726 87.54 41.41 51.43 2009 1,897 1,315 1,812 62.26 37.16 58.13 2010 2,149 1,550 2,115 68.32 47.12 66.67 2011 2,476 1,768 2,454 78.75 58.42 76.01 2012 2,499 2,020 2,175 77.52 63.05 70.89

HISTORICAL TSR PERFORMANCE OF ROYAL DUTCH SHELL PLC Growth in the value of a hypothetical €100 holding and £100 holding over ﬁ ve years. Euronext 100 and FTSE 100 comparison based on 30 trading day average values.

RDSA VERSUS EURONEXT 100 RDSB VERSUS FTSE 100 RDSA RDSB Value of hypothetical €100 holding Euronext 100 Value of hypothetical £100 holding FTSE 100 €150 £150

€125 £125

€100 £100

€75 £75

€50 £50 Dec 07 Dec 08 Dec 09 Dec 10 Dec 11 Dec 12 Dec 07 Dec 08 Dec 09 Dec 10 Dec 11 Dec 12

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 80 08-05-13 14:53 reports.shell.com | Shell Investors’ Handbook 81 Additional investor information

A AND B SHARES $ DIVIDENDS 2012 2011 2010 2009 2008 Q1 0.43 0.42 0.42 0.42 0.40 Q2 0.43 0.42 0.42 0.42 0.40 POLICY Q3 0.43 0.42 0.42 0.42 0.40 Our policy is to grow the US dollar dividend through time in line Q4 0.43 0.42 0.42 0.42 0.40 with our view of Shell’s underlying earnings and cash ﬂ ow. When Total announced in respect of the year 1.72 1.68 1.68 1.68 1.60 setting the dividend, the Board of Directors looks at a range of factors, including the macro environment, the current balance

sheet and future investment plans.We have announced an interim A SHARES € [A] dividend in respect of the fourth quarter 2012 of $0.43 per share, 2012 2011 2010 2009 2008 a 2.4% increase compared with the US dollar dividend for the same Q1 0.35 0.29 0.32 0.32 0.26 quarter of 2011. Shareholders have a choice to receive dividends Q2 0.34 0.29 0.32 0.30 0.26 in cash or in shares via our Scrip Dividend Programme. The Board Q3 0.33 0.32 0.31 0.28 0.31 expects that the ﬁ rst quarter 2013 interim dividend will be $0.45 Q4 0.33 0.32 0.30 0.30 0.30 per share, an increase of 4.7% compared with the US dollar Total announced in respect of the year 1.35 1.22 1.25 1.21 1.13 dividend for the same quarter of 2012. Amount paid during the year 1.34 1.20 1.25 1.21 1.07 [A] Euro equivalent, rounded to the nearest euro cent. SCRIP DIVIDEND PROGRAMME In September 2010, the Company introduced a Scrip Dividend programme which enables shareholders to increase their B SHARES PENCE [A] shareholding by choosing to receive new shares instead of cash 2012 2011 2010 2009 2008 dividends, if approved by the Board. Only new A shares are issued Q1 27.92 25.71 27.37 28.65 20.05 under the programme, including to shareholders who hold B shares. Q2 27.08 25.77 26.89 25.59 20.21 Q3 26.86 27.11 26.72 25.65 24.54 Q4 28.79 26.74 25.82 26.36 27.97 Joining the Programme may offer a tax advantage in some countries Total announced in respect of the year 110.65 105.33 106.80 106.25 92.77 compared with receiving cash dividends. In particular, dividends Amount paid during the year 108.60 104.41 107.34 107.86 82.91 paid out as shares will not be subject to Dutch dividend withholding tax (currently 15 per cent) and will not generally be taxed on [A] Pound sterling equivalent. receipt by a UK shareholder or a Dutch corporate shareholder.

Shareholders who elect to join the Programme will increase the A AND B AD Ss $ number of shares held in Shell without having to buy existing 2012 2011 2010 2009 2008 shares in the market, thereby avoiding associated dealing costs. Q1 0.86 0.84 0.84 0.84 0.80 Shareholders who do not join the Programme will continue to Q2 0.86 0.84 0.84 0.84 0.80 receive in cash any dividends declared by Shell. Q3 0.86 0.84 0.84 0.84 0.80 Q4 0.86 0.84 0.84 0.84 0.80 Full details of the programme can be found at Total announced in respect of the year 3.44 3.36 3.36 3.36 3.20 www.shell.com/dividend Amount paid during the year 3.42 3.36 3.36 3.32 3.12

SCRIP ISSUANCE A SHARES NUMBER OF SHARES IN MILLION 2012 2011 2010 Q1 27.5 31.1 – Q2 19.8 23.9 – Q3 22.3 22.3 – Q4 34.2 27.3 18.3 Total issuance 103.8 104.6 18.3

NUMBER OF SHARES REPURCHASED [A] NUMBER OF SHARES IN MILLION 2012 2011 2010 2009 2008 Q1 1.33 – – – 29.08 Q2 26.96 – – – 34.81 Q3 2.45 28.10 – – 25.34 Q4 12.96 6.31 – – 12.16 Total issuance 43.70 34.41 – – 101.39 [A] Shares repurchases based on the trading date. Settlement usually occurs three working days after each trading day.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 81 08-05-13 14:54 82 Shell Investors’ Handbook | reports.shell.com Additional investor information

BONDHOLDER INFORMATION

Publically traded bonds were issued by Shell International Finance BV and guaranteed by Royal Dutch Shell plc. Shell International Finance BV is a 100% subsidiary of Royal Dutch Shell plc.

CREDIT RATINGS (AT 31 DECEMBER 2012) BOND MATURITY PROFILE $ million equivalent S&P Moody’s Short-term Long-term Short-term Long-term 6,000 rating rating Outlook rating rating Outlook Royal Dutch Shell plc A-1+ AA Stable P-1 Aa1 Stable 5,000 Debt of Shell International Finance BV A-1+ AA Stable P-1 Aa1 Stable

4,000

3,000

2,000

1,000

0 13 1415 16 17 18 19 20 21 22 23 3840 42 USD EUR

PUBLICLY TRADED BONDS, CURRENT OUTSTANDING Maturity Settlement Currency Million Coupon Listing ISIN 25 Mar 2013 25 Mar 2010 USD 2,000 1.875% New York US822582AL65 14 May 2013 13 May 2009 EUR 2,500 3.000% London XSO428146442 21 Mar 2014 23 Mar 2009 USD 2,500 4.000% New York US822582AF97 28 Jun 2015 28 Jun 2010 USD 1,750 3.100% New York US822582AQ52 22 Sep 2015 22 Sep 2009 USD 1,000 3.250% New York US822582AH53 04 Dec 2015 06 Dec 2012 USD 750 0.625% New York US822582AU64 09 Feb 2016 09 Feb 2009 EUR 1,250 4.500% London XS0412968876 22 Mar 2017 22 Mar 2007 USD 750 5.200% New York US822582AC66 22 May 2017 22 May 2007 EUR 1,500 4.625% London XSO301945860 21 Aug 2017 21 Aug 2012 USD 1,000 1.125% New York US822582AR36 14 May 2018 13 May 2009 EUR 2,500 4.375% London XSO428147093 22 Sep 2019 22 Sep 2009 USD 2,000 4.300% New York US822582AJ10 25 Mar 2020 25 Mar 2010 USD 1,250 4.375% New York US822582AM49 21 Aug 2022 21 Aug 2012 USD 1,000 2.375% New York US822582AS19 06 Jan 2023 06 Dec 2012 USD 1,000 2.250% New York US822582AV48 15 Dec 2038 11 Dec 2008 USD 2,750 6.375% New York US822582AD40 25 Mar 2040 25 Mar 2010 USD 1,000 5.500% New York US822582AN22 21 Aug 2042 21 Aug 2012 USD 500 3.625% New York US822582AT91

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FINANCIAL CALENDAR Financial year ends December 31, 2012

Announcements Full year results for 2012 January 31, 2013 First quarter results for 2013 May 2, 2013 Second quarter results for 2013 August 1, 2013 Third quarter results for 2013 October 31, 2013

Dividend timetable [A] 2012 Fourth quarter interim [B] Announced January 31, 2013 Ex-dividend date February 13, 2013 Record date February 15, 2013 Scrip reference share price announcement date February 20, 2013 Closing date for scrip election and currency election [C] March 1, 2013 Euro and sterling equivalents announcement date March 8, 2013 Payment date March 28, 2013

2013 First quarter interim Announced May 2, 2013 Ex-dividend date May 15, 2013 Record date May 17, 2013 Scrip reference share price announcement date May 22, 2013 Closing date for scrip election and currency election [C] June 3, 2013 Euro and sterling equivalents announcement date June 10, 2013 Payment date June 27, 2013

2013 Second quarter interim Announced August 1, 2013 Ex-dividend date August 14, 2013 Record date August 16, 2013 Scrip reference share price announcement date August 21, 2013 Closing date for scrip election and currency election [C] September 2, 2013 Euro and sterling equivalents announcement date September 9, 2013 Payment date September 26, 2013

2013 Third quarter interim Announced October 31, 2013 Ex-dividend date November 13, 2013 Record date November 15, 2013 Scrip reference share price announcement date November 20, 2013 Closing date for scrip election and currency election [C] November 29, 2013 Euro and sterling equivalents announcement date December 6, 2013 Payment date December 23, 2013

Annual General Meeting May 21, 2013

[A] This timetable is the intended timetable as announced on November 1, 2012. [B] The Directors do not propose to recommend any further distribution in respect of 2012. [C] Different scrip and dividend currency election dates may apply to shareholders holding shares in a securities account with a bank or other fi nancial institution ultimately holding through Euroclear Nederland. Such shareholders can obtain the applicable deadlines from their broker, fi nancial intermediary, bank or other fi nancial institution where they hold their securities account. A different scrip election date may also apply to registered and non-registered ADS holders. Registered ADS holders can contact The Bank of New York Mellon for the applicable deadline. Non- registered ADS holders can contact their broker, fi nancial intermediary, bank or other fi nancial institution for the applicable election deadline.

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 83 08-05-13 14:54 84 Shell Investors’ Handbook | reports.shell.com Additional investor information

About this publication Reserves: Our use of the term “reserves” in this publication with governmental entities, delays or advancements in the means SEC proved oil and gas reserves. approval of projects and delays in the reimbursement for Resources: Our use of the term “resources” in this shared costs; and (m) changes in trading conditions. All publication includes quantities of oil and gas not yet forward-looking statements contained in this publication classifi ed as SEC proved oil and gas reserves. Resources are expressly qualifi ed in their entirety by the cautionary are consistent with the Society of Petroleum Engineers 2P statements contained or referred to in this section. Readers and 2C defi nitions. should not place undue reliance on forward-looking Organic: Our use of the term “organic“ in this publication statements. Additional risk factors that may affect future includes SEC proved oil and gas reserves excluding results are contained in Royal Dutch Shell’s 20-F for the changes resulting from acquisitions, divestments and year- year ended December 31, 2012 (available at www.shell. average pricing impact. com/investor and www.sec.gov). These risk factors also expressly qualify all forward looking statements contained The companies in which Royal Dutch Shell plc directly and in this publication and should be considered by the reader. indirectly owns investments are separate entities. In this Each forward-looking statement speaks only as of the publication “Shell”, “Shell group” and “Royal Dutch Shell” date of this publication, April 19, 2013. Neither Royal are sometimes used for convenience where references Dutch Shell plc nor any of its subsidiaries undertake any are made to Royal Dutch Shell plc and its subsidiaries in obligation to publicly update or revise any forward-looking general. Likewise, the words “we”, “us” and “our” are also statement as a result of new information, future events or used to refer to subsidiaries in general or to those who work other information. In light of these risks, results could differ for them. These expressions are also used where no useful materially from those stated, implied or inferred from the purpose is served by identifying the particular company or forward-looking statements contained in this publication. companies. “Subsidiaries”, “Shell subsidiaries” and “Shell companies” as used in this publication refer to companies This publication has not been subject to audit. over which Royal Dutch Shell plc either directly or indirectly has control. Companies over which Shell has joint control The maps in this publication are intended only to give an are generally referred to “joint ventures” and companies impression of the magnitude of Shell’s Upstream activities in over which Shell has signifi cant infl uence but neither certain parts of the world. The maps are not comprehensive control nor joint control are referred to as “associates”. In and show primarily major projects and assets mentioned this publication, joint ventures and associates may also in this publication. The maps must not be considered be referred to as “equity-accounted investments”. The authoritative, particularly in respect of delimitation of term “Shell interest” is used for convenience to indicate national, concession or other boundaries, nor in respect the direct and/or indirect (for example, through our 23% of the representation of pipeline routes and landfalls, fi eld shareholding in Woodside Petroleum Ltd.) ownership sizes or positions. The maps mainly describe the situation as interest held by Shell in a venture, partnership or company, at December 31, 2012. after exclusion of all third-party interest. We may have used certain terms, such as resources, in this This publication contains forward-looking statements publication that United States Securities and Exchange concerning the fi nancial condition, results of operations Commission (SEC) strictly prohibits us from including in our and businesses of Royal Dutch Shell. All statements other fi lings with the SEC. U.S. Investors are urged to consider than statements of historical fact are, or may be deemed closely the disclosure in our Form 20-F, File No 1-32575, to be, forward-looking statements. Forward-looking available on the SEC website www.sec.gov. You can also statements are statements of future expectations that obtain these forms from the SEC by calling 1-800-SEC- are based on management’s current expectations and 0330. assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identifi ed by their use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “schedule”, “seek”, “should”, “target”, “will” and similar terms and phrases. There are 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 the forward-looking statements included in this publication, including (without limitation): (a) price fl uctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fl uctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identifi cation of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fi scal and regulatory developments including regulatory measures addressing climate change; (k) economic and fi nancial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts

103585_SHE_Investors Handbook_V98_Cleaned_JD.indd 84 08-05-13 14:54 REGISTERED OFFICE INVESTOR RELATIONS SHARE REGISTRATION 4Q[CN&WVEJ5JGNNRNE 4Q[CN&WVEJ5JGNNRNE 'SWKPKVK 5JGNN%GPVTG 21$QZ #URGEV*QWUG .QPFQP5'0# #06JG*CIWG 5RGPEGT4QCF 7PKVGF-KPIFQO 6JG0GVJGTNCPFU .CPEKPI 9GUV5WUUGZ$0&# 4GIKUVGTGFKP'PINCPFCPF9CNGU or 7PKVGF-KPIFQO %QORCP[PWODGT 5JGNN1KN%QORCP[ 7- 4GIKUVGTGFYKVJVJG&WVEJ6TCFG4GIKUVGT +PXGUVQT4GNCVKQPU WPFGTPWODGT .QWKUKCPC5VTGGV$ HCZ *QWUVQP6: HEADQUARTERS USA (QTQPNKPGKPHQTOCVKQPCDQWV[QWTJQNFKPI 4Q[CN&WVEJ5JGNNRNE CPFVQEJCPIGVJGYC[[QWTGEGKXG[QWT %CTGNXCP$[NCPFVNCCP HCZ EQORCP[FQEWOGPVU *46JG*CIWG YYYUJCTGXKGYEQWM 6JG0GVJGTNCPFU KTGWTQRG"UJGNNEQO KTWUC"UJGNNEQO AMERICAN DEPOSITARY SHARES YYYUJGNNEQOKPXGUVQT (ADSS) 6JG$CPMQH0GY;QTM/GNNQP REPORT ORDERING 21$QZ QTFGT"UJGNNEQO 2KVVUDWTIJ2#s USA 75# #PPWCN4GRQTV(UGTXKEGHQT75|TGUKFGPVU KPVGTPCVKQPCN UJTTGNCVKQPU"DP[OGNNQPEQO YYYDP[OGNNQPEQOUJCTGQYPGT

ABBREVIATIONS %WTTGPEKGU 2TQFWEVU $ 75FQNNCT GTL ICUVQNKSWKFU € GWTQ LNG NKSWGƂGFPCVWTCNICU £ UVGTNKPI LPG NKSWGƂGFRGVTQNGWOICU MEG OQPQGVJ[NGPGIN[EQN 7PKVUQHOGCUWTGOGPV NGL PCVWTCNICUNKSWKFU CETG CRRTQZKOCVGN[JGEVCTGUQT |USWCTGMKNQOGVTGU /KUEGNNCPGQWU D F DCTTGNU RGTFC[ ADS #OGTKECP&GRQUKVCT[5JCTG DQG F DCTTGNUQHQKNGSWKXCNGPV RGTFC[ CCS EWTTGPVEQUVQHUWRRNKGU PCVWTCNICUXQNWOGUCTGEQPXGTVGF CFFO ECUJƃQYHTQOQRGTCVKQPU VQ|QKNGSWKXCNGPVWUKPICHCEVQTQH CIS %QOOQPYGCNVJQH+PFGRGPFGPV UEHRGTDCTTGN 5VCVGU CO MD F VJQWUCPFDCTTGNU RGTFC[ ECTDQPFKQZKFG MDQG F VJQWUCPFDCTTGNUQHQKNGSWKXCNGPV E GZRGEVGF RGT|FC[ EAI GSWKV[CEEQWPVGFKPXGUVOGPVU &GUKIPGFD[5VWFKQ&WODCT MO MKNQOGVTGU EOR GPJCPEGFQKNTGEQXGT[ 2TKPVGFD[6WĎVGNWPFGT+51 //$VW OKNNKQP$TKVKUJVJGTOCNWPKVU FID ƂPCNKPXGUVOGPVFGEKUKQP OVRC OKNNKQPVQPPGURGTCPPWO FLNG ƃQCVKPINKSWGƂGFPCVWTCNICU MW OGICYCVVU JOA LQKPVQRGTCVKPICITGGOGPV RGTFC[ XQNWOGUCTGEQPXGTVGFVQCFCKN[ JV LQKPVXGPVWTG DCUKU|WUKPICECNGPFCT[GCT OML QKNOKPKPINGCUG UEH F UVCPFCTFEWDKEHGGV RGTFC[ PSC RTQFWEVKQPUJCTKPIEQPVTCEV VEH VTKNNKQPEWDKEHGGV R&D TGUGCTEJCPFFGXGNQROGPV SEC 7PKVGF5VCVGU5GEWTKVKGUCPF 'ZEJCPIG|%QOOKUUKQP SUBS 5JGNNUWDUKFKCTKGU ALL OUR REPORTS ARE AVAILABLE AT HTTP://REPORTS.SHELL.COM

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