Capital Markets Day 2016 Re-Shaping Shell, to Create a World-Class Investment Case

Capital markets day 2016 Re-shaping Shell, to create a world-class investment case

Royal Dutch Shell plc June 7, 2016

“Let’s make the future”

Royal Dutch Shell | June 7, 2016 Ben van Beurden Chief Executive Officer Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016 Definitions & Reserves: Our use of the term “reserves” in this presentation means SEC proved oil and gas reserves. Resources: Our use of the term “resources” in this presentation includes quantities of oil and gas not yet classified as SEC proved oil and gas reserves. Resources are consistent with the Society of cautionary note Petroleum Engineers (SPE) 2P + 2C definitions. Resources and potential: Our use of the term “resources and potential” are consistent with SPE 2P + 2C + 2U definitions. Organic: Our use of the term Organic includes SEC proved oil and gas reserves excluding changes resulting from acquisitions, divestments and year-average pricing impact. Shales: Our use of the term ‘shales’ refers to tight, shale and coal bed methane oil and gas acreage. The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this release “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this release refer to companies over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations” respectively. Entities over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in a venture, partnership or company, after exclusion of all third- party interest. This release contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and 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 identified 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 release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (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 identification 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, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. There can be no assurance that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended December 31, 2015 (available at www.shell.com/investor and www.sec.gov ). These risk factors also expressly qualify all forward looking statements contained in this release and should be considered by the reader. Each forward-looking statement speaks only as of the date of this release, June 7, 2016. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this release. With respect to operating costs synergies indicated, such savings and efficiencies in procurement spend include economies of scale, specification standardisation and operating efficiencies across operating, capital and raw material cost areas. We may have used certain terms, such as resources, in this release that United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

Royal Dutch Shell | June 7, 2016 3 Key messages RE-SHAPING PORTFOLIO MANAGING THE SHELL PRIORITIES DOWN-CYCLE  Create a world class  Cash engines  Pulling levers to manage investment case  today’s free cash flow financial framework  Grow free cash flow per  Growth priorities  Re-set our costs share, higher ROCE  deep water and  Reduce debt  More resilient and more chemicals focused company  Future opportunities

 2020+ shales and new energies

BG acquisition enables and accelerates change

Royal Dutch Shell | June 7, 2016 4 Breakout Q&A Upstream + Projects & Technology panels  Andrew Brown – Upstream Director  Peter Sharpe – EVP Wells Andrew Brown Peter Sharpe

Downstream  John Abbott – Downstream Director  Istvan Kapitany – EVP Retail John Abbott Istvan Kapitany

Integrated Gas  Maarten Wetselaar – Integrated Gas Director  Steve Hill – EVP Gas and Energy Marketing & Trading Maarten Wetselaar Steve Hill

Royal Dutch Shell | June 7, 2016 5 Industry context Global population Growth in oil & gas demand Energy system in transition Substantial + long lasting World needs shifts in energy more energy; landscape less CO2 2000 2050

From 7 to 9 billion by 2050 Global energy demand to 75% will live in cities double between 2000 & 2050

Customer choice Continued oil price volatility Changing resources access

2005 2010 Q1 2016

New sources OPEC, shales, shorter price cycles Requires new value creation New energy carriers models New business models

Royal Dutch Shell | June 7, 2016 6 “2 degree Global energy mix IEA ‘450’ scenario world” Global energy demand, million boe per day 300 Other renewables Oil 32% Nuclear

Coal 29% Bio-energy Hydro Gas 21% 200 13.7 9.4 Coal btoe btoe Bio-energy 10% Energy Primary Nuclear 4% consumption Gas energy 100 supply Renewables 4%

Oil 4.3 Losses + btoe transformation 0 2000 2013 2030 IEA 450

 Managing our emissions

 Continued investing in gas

 New energies business

Royal Dutch Shell | June 7, 2016 7 Strategy “Let’s make the future” Strategic Operational

Focus portfolio on Reset cost and capital Shell ambition: resilient positions spending Create a  World-class investment case world-class  Relevant in our industry + Invest in advantaged investment case First class execution growing value share projects FCF/share + ROCE growth projects + operations  Reducing our carbon Conservative financial management intensity Unrelenting focus on HSSE  Shared value Value chain integration and licence to operate

Royal Dutch Shell | June 7, 2016 8

Re-shape Shell

BG deal delivery Shell reset  Synergies: $4.5 billion 2018 >$10 billion Oil price uplift

 Asset value ahead of expectation

 Considerable upside potential:  Oil price recovery  Shell reset

Consideration Today Pre-completion view paid Valuation based on forward curves / consensus @ 15 Feb 2016*

Net debt Synergies PV Cash & shares Portfolio NAV

* The net asset value, in line with accounting standards, is determined by reference to oil and gas prices, as reflected in the prevailing market view on the day of completion. Oil and gas prices are based on the forward price curve for the first two years (2016: $38, 2017:$44), and subsequent years based on the market consensus price view @ 15 Feb 2016

Royal Dutch Shell | June 7, 2016 9 Track record $35 billion 8% $35 billion $22 billion 2013-15 >> Significant Free cash flow ROACE Dividend & buybacks Divestments changes delivered Capital employed in $ billion, end 2013 / Q1 2016 Today 300 2013

Corporate  BG acquisition:

Corporate Deep water + LNG growth accelerated Integrated Gas 200 Integrated Gas  ~500 kboed start-ups + 13 FIDs  Restructured conv. oil + gas, Nigeria, shales & oil products Upstream Upstream 100  Reduced and re-phased pre-FID options  Cancelled Carmon Creek + Alaska  Divested Woodside (part), Australia Downstream downstream, proceeds from MLP, others Downstream 0

ROACE on a clean CCS basis

Royal Dutch Shell | June 7, 2016 10 Re-shape Shell Cash engines: Growth priorities: Future opportunities: Driving strategy today 2016+ 2020+ in multiple time Funds dividends + balance sheet Cash engines 2020+ Material value + upside horizons

Affordable growth in Competitive + resilient Path to profitability advantaged positions

Strong free cash flow and returns FCF + ROACE pathway Managed exposure

CONVENTIONAL INTEGRATED DEEP WATER CHEMICALS SHALES NEW OIL + GAS GAS ENERGIES

OIL SANDS OIL MINING PRODUCTS

Relentless portfolio high-grading

Royal Dutch Shell | June 7, 2016 11 Capital Employed Cash flow Free cash flow + ROACE Re-shape Shell Cash Engines $23 billion Cash flow $140 billion 12 % ROACE performance $87 billion Net debt movement 2013-15 & other $4 billion

Interest & other $4 billion Growth Priorities $24 billion $0 billion 11 % Free $39 billion cash flow Cash dividend $35 billion $26 billion Future Opportunities ROACE $15 billion 8% -$13 billion  Balancing cash-in -$2 billion -12 % Buybacks & cash-out Corporate/other $9 billion

$29 billion  Oil price ~$87 $5 billion $3 billion

Divestments $22 billion

$2 billion Investment $11 billion (cash) $24 billion Slide shows end 2015 capital employed and 2013-15 cumulative CFFO and FCF $64 billion

Royal Dutch Shell | June 7, 2016 12 Capital investment Re-shape Shell $ billion 2016 2017-18 $ billion Capital 50 allocation -35% Oil products 3 3-4 Conventional 5 5-6 oil + gas Cash engines Integrated gas 6 4-5

30 Oil sands mining <1 <1

25 25 Deep water 8 6-7 Growth priorities Chemicals 3 3-4

Shales 2 2-3 Future  Reducing capital investment opportunities New energies <1 <1  More predictable

development flow Total ~29 25-30 0 2014 2016E 2017 - 20 avg Shell BG

Excludes BG acquisition in 2016

Royal Dutch Shell | June 7, 2016 13 Re-shape Shell Conventional oil + gas Cash engines  High grade portfolio  Exploration to maintain running room

Integrated Gas

 Moderate capacity growth rate  Prioritise for cash delivery

Oil Products

 Strengthen the retained core  Selective marketing growth

Oil sands mining  Improve macro resilience  Capture price upside Name

Royal Dutch Shell | June 7, 2016 14 Re-shape Shell Liquefaction capacity

Integrated Gas Period-end in million tonnes per annum 45 from growth 2018 Sakhalin 30 priority to cash Sabine Pass 15 engine QG-4 0 2000 2005 2010 2015 Nigeria Oman Brunei Equatorial Atlantic LNG Guinea Malaysia LNG liquefaction volumes

LNG Peru Million tonnes per annum Gorgon NWS 40 16Q1 Pluto QCLNG extrapolated

Liquefaction (Shell) Liquefaction (BG) LNG offtake (BG) 0 2000 2005 2010 2015

 Integrated gas is over 30% of Shell  13 mtpa liquefaction growth in Australia 2018 Optimise for free  ~75 mtpa liquefaction projects in growth funnel cash flow growth  ~20 mtpa market access in growth funnel

Royal Dutch Shell | June 7, 2016 15 Re-shape Shell Deep water Growth priorities  Growth in advantaged geology

 Brazil + GOM in focus

 Multi-billion barrels potential

Chemicals

 Advantaged feedstock + growth markets  USA + China growth

Royal Dutch Shell | June 7, 2016 16 Re-shape Shell Chemicals capacity Deep water production

Deliver Million tonnes per annum, ethylene Thousand boe per day 1000 profitable 8 growth 800 6 600

4 400

2 200

0 0 2015 2020 2015 2020 On-stream Under construction On-stream Under construction FEED

   Growth outlook driven by Advantaged feed stocks + Shell technology Building on GOM exploration + BG Brazil discovered oil & gas and  Pennsylvania chemicals: polyethylene  Brazil pre-salt: 15 FPSOs ~2020 established chemicals  Gulf Coast expansion: alpha olefins  Gulf of Mexico: Stones + Appomattox developments positions  China expansion: EOG, SMPO/POD

Royal Dutch Shell | June 7, 2016 17 Re-shape Shell Shales Future  ~12 billion barrels resources + potential opportunities  Mature to ‘growth priority’

New energies

 Energy transition themes  Explore + invest for longer term

Royal Dutch Shell | June 7, 2016 18 Future opportunities New energies Investment context New energies

Mobility Renewables transition growth New fuels

Digital Energy Increasing platforms Transition electrification Integrated Connected energy customer solutions

Disruptive Greater business customer models choice  Hydrogen & biofuels  Wind & solar alongside gas  Customer solutions

Royal Dutch Shell | June 7, 2016 19 Re-shape Shell 2013-15 ~$90 2019-21 ~$60

Expectation: Capital Free ROACE Capital Free ROACE employed cash flow employed cash flow end of decade ($ bln end ‘15) ($ bln p.a) (%) ($ bln) ($ bln p.a.) (%) Oil products 5 12 >5 ~15

Conventional oil + gas -1 13 ~5 ~10 CASH ENGINES Integrated gas 4 13 >5 ~10 Stable portfolio + step up Oil sands mining 0 1 ~1 ~5 in financial performance Cash engines ~65% 8 12 ~65% 15-20 ~10

GROWTH PRIORITIES Deep water -1 10 ~5 ~10 Deep water delivering Chemicals 1 15 ~0 ~10 free cash flow; Chemicals Growth priorities ~20% 0 11 ~25% ~5 ~10 continues to grow

FUTURE OPPORTUNITIES Shales -4 -12 ~0 <5 Transitioning to New energies - - ~0 <5 growth businesses Future opportunities ~5% -4 -12 ~5% ~0 <5 Organic FCF 5 20-25 Divestments 7 ~5

Total (incl. Corporate) 223 12 8 270-290 20-30 ~10

2019-21: ~$60 scenario, mid-cycle Downstream

Royal Dutch Shell | June 7, 2016 20 Simon Henry Chief Financial Officer Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016 Financial framework Cash Performance  Creating value for shareholders through cycle CFFO + Divestments

 Pulling levers today to manage the financial framework Pay-out Investment

Dividends + Attractiveness,

Buybacks resilience  Multi-year timescales and planning

Balance Sheet  Positioning to cover dividends in down-cycle, 0 – 30% gearing and generate excess free cash flow in up-cycle through cycle

Royal Dutch Shell | June 7, 2016 22 Integration with BG LNG Oil and gas production

Portfolio Equity liquefaction capacity in million tonnes per annum Million boe per day 50 4

25 2

0 0 Shell + BG Exxon Chevron Total BP Exxon Shell + BG Chevron Total BP

2015 2018 Liquids Gas

Oil & gas proved reserves - 2015

billion boe 30

20  BG transaction accelerates our growth strategy  Increased scale and portfolio quality – an 10 opportunity to re-set Shell 0 Exxon BP Shell + BG* Total Chevron

Shell BG

* Shell’s reserves are calculated on a SEC basis and BG‘s 1P reserves are calculated on a PRMS basis, as published by the SPE

Royal Dutch Shell | June 7, 2016 23 Integration with BG  BG production Q1 2016: 0.8 mboed (+25% Q1-Q1) BG portfolio is delivering  Asset availability 93%

 Reducing capital spend

Increasing production Reducing capital investment

Thousand boe per day $ billion +25% 800 3

600 2

400

1 200

0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2014 2015 2016 2014 2015 2016

Deep water LNG Conventional oil + gas Capital investment

Source: BG

Royal Dutch Shell | June 7, 2016 24 Integration with BG Integration 15 February 2016 End 2016 timeline BG acquisition Integration completed completed

August 2015 Day 30 Day 60 Day 90 Today

 Joint integration  Deliver safe, efficient operations  Combine best practices and retain best staff planning team established  Management announcements + talent review  Staffing of combined organisation

   Early preparation for Understand BG business & practices Integrated business plan successful integration  UK + US office footprint  Transition teams move to business as usual

 Transition plan: resourcing, systems & processes

Royal Dutch Shell | June 7, 2016 25 Integration with BG Synergies update

Synergies $ billion  Corporate, administrative, update SG&A organisation and IT operational Additional efficiencies 4 synergies

 1 Procurement Procurement spend 3

Marketing &  Reduced costs 2 shipping

1 Exploration  Reduced activity via BG combination

0 2016 2017 2018  2018 synergies increased Costs synergies Synergies target as per from $3.5 bln to $4.5 billion -1 Exploration synergies prospectus  2017 delivery of prior 2018 target

1 Synergies span operating, capital, and raw material cost areas

Royal Dutch Shell | June 7, 2016 26 Manage down-cycle Cash flow 1 2 3 priorities 2016-18 Priorities Buybacks Debt reduction Dividends for cash & capital investment

Reduce capital Reduce Deliver new Divestments investment operating costs projects  Powerful levers to underpin financial framework

Royal Dutch Shell | June 7, 2016 27

Manage down-cycle 2016-18 Divestments program

Divestments $ billion  Portfolio simplification and 30 high-grading 2016-18 announced:

 Showa Shell

 Earmarked for disposal  Maui pipeline 20  Denmark marketing   Up to10% of oil + gas  Malaysia refining production  Motiva JV end

 ~5-10 oil + gas countries 10  Further divestments pending  Selected mid-stream and completed downstream

0  $30 billion 2016-18 2007-09 2010-12 2013-15 2016-18

 Progressing $6-8 billion Integrated gas Refocus portfolio 2016 Upstream Infrastructure + mature positions Downstream/Corporate High grading ‘tail’

Integrated gas split out from Upstream from 2011 onwards

Royal Dutch Shell | June 7, 2016 28

Manage down-cycle  Significant oil & gas +

Deliver new Downstream production under Thousand boe per day* Million tonnes per annum construction projects 1200 15

 Capex to free cash flow 800 10

 High margin / price upside barrels 400 5

0 0 2014-15 2016-17 2018+

2014-15 start-ups 2018+ start-ups 2016-17 start-ups LNG volume (RHS)

 Cash operating cost <$15/boe

 Tax rate ~35%

* BG organic growth from 1.1.2016 LNG volume includes offtake

Royal Dutch Shell | June 7, 2016 29 2013 2014 2015 2016 2017+ Track record Oil sands mining Carmon Creek  Shales Shales Significant Deep water Appomattox  Bonga South West reduction in Integrated Gas Arrow Greenfield LNG  Elba LNG  project flow Browse LNG US GTL  Wheatstone LNG  Abadi redesign MLNG Dua JVA  LNG Canada Lake Charles Sakhalin Train 3 Conventional Bab  oil + gas ADNOC Expiry  MLNG DUA PSC  Bokor & Betty EOR Val d’Agri ph2 Majnoon FFD Chemicals Al Karaana  Geismar alpha olefins   ~$45 billion spending Pennsylvania cracker  Nanhai 2nd cracker  mitigated 2014-2020 Oil products Scotford de-bottleneck  Pernis de-asphalting 

Delay/deferral Potential FID  FID  Cancelled/divest

Royal Dutch Shell | June 7, 2016 30 Reduced Exploration expenditure $ billion exploration 8 spend 7 6 5.5 5  $3 billion reduction 4

~2.5 ~2.5 2

0 2013 2014 2015 2016E 2017/18 avg

Heartlands Frontier BG

 Material reduction in exploration spend

 BG acquisition + recent Shell discoveries reduces our requirement for exploration

 More emphasis on Shell’s producing basins

 Reduced activity, restructuring, lower costs

Royal Dutch Shell | June 7, 2016 31 Manage down-cycle Capital investment

Lower & more $ billion; excludes BG acquisition in 2016 predictable 60 58 capital 47 -35% investment 40 36 29 $25-30 billion

0 2013 2014 2015 2016E 2017 - 20 avg

Base + short cycle Committed growth projects Growth options/exploration BG

 Planning for $25-$30 billion range

 $30 billion/year ceiling

 Trending low in range today

 Options to further reduce below $25 billion if warranted

Royal Dutch Shell | June 7, 2016 32 Manage down-cycle Operating cost

Reduce $ billion operating cost 60 50 48 46 -20% 40 40

20 $40 billion

0 2013 2014 2015 end-2016 run-rate Shell BG

 Substantial reductions delivered

 “Lower for ever” mindset + BG synergies

 Staff, supply chain + contractors

 Divestments , growth, FX impacts

Royal Dutch Shell | June 7, 2016 33

Manage down-cycle 2016-18 levers Pulling levers to Reduce Reduce Deliver new Divestments capital operating manage projects investment costs financial framework

2015 baseline: 2017-2018 $ billion Shell + BG 2016 potential

Trend to 40  Reducing our cash break-even Operating costs 46 Multi-billion p.a. (underlying)

Capital investment 36 29 25-30  Further options available 6-8 in 30 over Divestments 6 + 5 progress 2016-18

Projects start-up post-2014 ~10 billion  +/- $10 Brent = ~5 billion CFFO n/a ~$2 billion (CFFO) by 2018*

* $60 oil price scenario 2018

Royal Dutch Shell | June 7, 2016 34 John Abbott Downstream Director Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016 Downstream Cash engine Growth priority

Marketing Refining & Trading Chemicals

 Improve our financial  Differentiated products  Full integration with trading  Feedstock plays performance  Brand leverage + customer offer  Improve retained assets  Capacity growth  Upgrading our portfolio  Selective growth  Reducing refining capacity  Returns + free cash flow improvement

 Chemicals growth priority

Royal Dutch Shell | June 7, 2016 36 Downstream Earnings + ROACE Cash flow financial $ billion % $ billion 10 20 15 performance 10 5 10 5

0 0 0 2012 2013 2014 2015 16Q1 2012 2013 2014 2015 16Q1 4Q rolling 4Q rolling Marketing Chemicals Cash flow excluding working capital Refining & trading ROACE (RHS) Working capital movements Free cash flow

Capital employed

$49 billion as at end Q116  Contribute sustainable and growing cash surplus

 Deliver competitive returns Refining & trading Marketing Chemicals

Earnings and ROACE on CCS basis, excluding identified items

Royal Dutch Shell | June 7, 2016 37

Financial performance Stronger results from smaller portfolio

Oil Products Million barrels/day $ billion $ per barrel  Advantaged feedstock + supply 4 8 8  Asset sales -20% -30% +25%  Products + brand

3 6 6

2 4 4

1 2 2

0 0 0 Refining capacity Marketing volumes 2007 2015

2007 2015 Oil products earnings Global weighted average refining margin (RHS)

Earnings on CCS basis, excluding identified items

Royal Dutch Shell | June 7, 2016 38 Improving our Portfolio change Asset sales $ billion Downstream Backbone / grow:  Chemicals footprint and  China 4  LNG for transport  Australia DS performance  Premium fuels + lubes  Italy DS  Refinery crude flexibility  MLP  others  others  Denmark  3  MLP Fix:  Showa Shell  Netherlands +

 others Rheinland  Stanlow refinery manufacturing  Shell Chile  Singapore fuels Exit:  LPG Northwest Europe  Motiva JV restructuring 2  Australia   others  Norway  others Attractiveness  Denmark   UK retail sites  Harburg   LPG France  Italy   MLP   LPG France   Tongyi Optimise footprint 1  Norway   others  Growth markets  Selected UK retail sites   Tongyi lubricants China   Capital discipline and project  Showa Shell  Malaysia refining delivery  others  completed 0 2011 2012 2013 2014 2015 2016 Resilience announced

Royal Dutch Shell | June 7, 2016 39 Oil Products Motiva JV restructuring Showa Shell divestment

Optimization Terminals (26) – Saudi Aramco of footprint Terminals (9) – Shell Ethanol Hub

Refinery

Showa Shell Sekiyu K.K. Kawasaki Refinery, Japan Port Norco Arthur Convent

 Exit from JV with Saudi Aramco  Sale of ~33% of Showa Shell Sekiyu KK to Idemitsu  Integrate retained assets with Shell  ~$1.4 billion  Brand licensing agreement  Lubricants and fuel brand licensing agreements  Completion expected in 2016

Motiva JV split is subject to ongoing negotiation

Royal Dutch Shell | June 7, 2016 40 Investing in selective growth Shell Oil Products – marketing Marketing - ROACE Marketing – free cash flow Global retail - Global lubes - premium product penetration premium products penetration

% $ billion % %

30% 5 30% 30% 4 20% 20% 20% 3

2 10% 10% 10% 1

0% 0 0% 0% 2012 2013 2014 2015 16Q1 2012 2013 2014 2015 16Q1 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 4Q 4Q YTD YTD rolling rolling  Shell V-Power is the world’s most  Leveraging GTL base oils with widely sold premium fuel (68 Pureplus® markets)  Top 3 in critical markets, #1 in  #1 or #2 in high quality fuels China. across 90% of our markets

No.1 market share in global retail + global lubricants

ROACE on CCS basis, excluding identified items

Royal Dutch Shell | June 7, 2016 41 Growth priority Chemicals demand outlook Geographic balance

Chemicals Million metric tonnes1 Million metric tonnes Ethylene and Propylene 400

North America 2016 Europe 300 Asia Pacific & Middle East

200 Feedstock balance Million metric tonnes Ethylene and Propylene

100  Strengthening our core 2016 Liquid  Growing our footprint Gas  Crackers + derivatives 0 2005 2015 2020

Rest of world Asia

1Cracker base chemicals (Aromatic derivatives, Ethylene, Propylene and Isobutylene)

Royal Dutch Shell | June 7, 2016 42 Growth priority Ethylene capacity Under construction  425,000 tonnes additional Chemicals Million metric tonnes Pennsylvania cracker Alpha Olefins capacity Bukom 8 start-up Nanhai I USGC Nanhai II Geismar, USA restructuring

 6 New liquids cracker and derivatives units

 Capacity: ~1.2 million tonnes ethylene per annum 4 Nanhai, China  50/50 JV CNOOC

 Greenfield FID 2016 2  Capacity: ~1.5 million tonnes ethylene per annum and polyethylene derivatives Pennsylvania, USA 0 2000 2005 2010 2015 2020 2025

43 2006 Nanhai 2010 USGC go-light strategy 2010 Singapore 2016+ China + USA

Royal Dutch Shell | June 7, 2016 43 Downstream Downstream ROACE Oil Products ROACE competitive % % 30 landscape 30 20 20

10 10

0 0 2011 2012 2013 2014 2015 Q1 2016 2011 2012 2013 2014 2015 Q1 2016

Shell Peers

Chemicals ROACE Brand

% Global brand preference

30 20%

15% 20 10% 10 5%

0 0% 2011 2012 2013 2014 2015 Q1 2016 2011 2012 2013 2014 2015

Shell Chemicals peer group Shell Other majors

Downstream: Earnings on local GAAP basis adjusted for inventory valuation differences and excluding identified items; Peer group: Chevron, Total, BP, XOM, RDS Chemicals: Earnings excluding identified items; peer group: XOM, LBI, DOW, BP, RDS Source brand preference: Ipsos – Global Customer Tracker (covering 30+ markets)

Royal Dutch Shell | June 7, 2016 44 Andrew Brown Upstream Director Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016 Upstream Cash engine Growth priorities Future opportunities

Conventional oil & gas Deep water Shales

 Maintain resilience  Advantaged growth,  Large resource base   Drive improvement Track record + competitive portfolio  Future growth priority  Lowering cost further  Improve competitiveness  ‘Fit for future’ cost + uptime programme Capital employed: $45 billion Capital employed: $55 billion Capital employed: $17 billion Production: Production: Production:  Deliver profitable growth 1.8 mboe/d 0.6 mboe/d 0.26 mboe/d

Capital employed and production based on Q1 2016

Royal Dutch Shell | June 7, 2016 46 Upstream Earnings by strategic theme Earnings by geography $ billion $ per barrel $ billion financial 120 10 10 performance 5 60 5

0 0 0

-5 -60 -5 2013 2014 2015 16Q1 2012 2013 2014 2015 16Q1 4Q rolling 4Q rolling Conventional oil + gas Shales Rest of the world Americas Deep water Other Brent (RHS)

Cash flow + ROACE Capital investment 2016

$ billion % 20 20 15 15  Drive improvement + sustain 10 10 Conventional oil + gas 5 5 Deep water cash delivery Shales 0 0 -5 2012 2013 2014 2015 16 Q1 -5 4Q rolling Cash flow ROACE (RHS)

Earnings and ROACE on CCS basis, excluding identified items

Royal Dutch Shell | June 7, 2016 47 Reducing costs Upstream costs + improving $ billion $ per barrel 15 -8% 30 performance  Reduce costs + headcount 2014+ -15% Upstream  >5,000 staff + contractor positions

10 20  Exit ‘tail’ assets

 Potentially 5-10 country exits

5 10

- 0 2014 2015 2016E

Operating costs Unit cost BG

Royal Dutch Shell | June 7, 2016 48 Upstream Conventional oil & gas Deep water Shales “Fit for the future” Availability Availability Unit operating costs $/boe 100% 100% 20

-35% 80% 80%

60% 60%

40% 40% 0 0 15 30 45 60 0 10 20 2014 2015 2016E Direct unit operating costs $/boe1 Direct unit operating costs $/boe1

2014 2015 2016 Q1 2014 2015 2016 Q1 Direct operating costs Direct overhead

 Targeting sustained improvement by 2018:

 Asset availability improvement

 >150 kboe/d potential through wells + reservoir management

 Cost reduction

1Operated assets only

Royal Dutch Shell | June 7, 2016 49 Americas shales Average drill and complete costs – LRS wells Resources Maturing a new growth option $ million per well ~12 billion boe -50% 2020+ 12 Western Canada Gas

Western Canada LRS 8 Appalachia 4 Reserves Permian Contingent resources - 0 Argentina development pending 2013 2014 2015 2016 Q1 Haynesville Contingent resources - other Prospective resources Capital investment Production

 Material resource + potential $ billion Thousand boe per day +35% ~12 billion boe -60% 240

 25% liquids, 75% gas 4 160

 Reducing costs + improving 2 80 capital efficiency 0 0 2013 2014 2015 2016E 2013 2014 2015 16Q1 Liquids Gas

Production excludes divested assets (2013-14) and BG Haynesville addition (16Q1)

Royal Dutch Shell | June 7, 2016 50 Deep water Reducing drilling costs Lowering capital intensity Shell + BG deep water growth Capital efficient + profitable Example Gulf of Mexico # drilling days $ thousand $ per boe break-even cost (examples) Thousand boe per day growth Variable spread 75 1000 200 750 rate + drilling -30% materials cost 60 800 150 -40% 500 45 600 100 30 400 250 50 15 200

0 0 0 0 2014 2013/14 Brazil Current Current Appo Kaikias Coulomb Vito 2015 2020 baseline baseline Pre-salt

Current estimate - under construction Gulf of Mexico Other Current estimate - pre-FID Previous estimate Brazil

 Delivering world class development funnel

 Reducing break-even: new projects ~$45/bbl

Under construction Malikai Stones 1994 1996 1997 1999 2001 2005 2009 2010 2014 Coulomb Auger Mars Ram Powell Ursa Brutus Bonga BC-10 Perdido Mars B Appomattox Gumusut-Kakap Brazil pre-salt

Royal Dutch Shell | June 7, 2016 51 Pre-salt FPSOs delivery1 On-stream Deep water Brazil: Pending development On-stream Replicant owned Exploration 6. Iracema N. chartered step change in Chartering under Chartered evaluation Shell position 5. Iracema S.

4. Sapinhoá N. Berbigão 3. Lula NE. Lapa Libra EWT /Sururu2 Lula W.

Libra 2. Sapinhoá S. Lula Central Lula ext S. Atapu S.2 Libra pilot (20%) BM-S-54 (80%) 1. Lula 7. Lula Alto Lula S Lula N Atapu N.2 Sagitário 2010-15 2016 2017 2018 2019 2020+ (20%) Berbigão/ Iracema Sururu/Atapu2 (25%) (25%) Strong flow rates and performance Lapa Lula (25%) Top 10 pre-salt producer wells - ANP (30%) Iracema #1 Sapinhoá Iracema #2 (30%) Sapinhoá #1 100 km Iracema #3 Sapinhoá #2  Strong partnership with Petrobras Jubarte Lula #1  Libra consortium continues appraisal work Iracema #4 Sapinhoá #3  High well productivity Lula #2  Average 25,000 boe/d 0 15 30 45 Flow rate in kboe per day Shell equity No Shell equity 1 Operator’s view 2 The Berbigão, Sururu and Atapu accumulations subject to unitisation agreements

Royal Dutch Shell | June 7, 2016 52 Production Kepler North Coulomb Appomattox Deep water Gulf Thousand boe per day . 2016 discovery . ~20 kboe/d . ~175 kboe/d potential 300 Drilling . . . moratorium Tie-back to Na Kika Tie-back to Na Kika ~650 million boe resources . Shell 50% . Shell 100% (operator) . Shell 79% (operator) of Mexico 200

Established + profitable basin 100 Ram Powell Kaikias 0 . >100 million boe resources 09 10 11 12 13 14 15 Q116 . Tie-back option Mars Na Kika . Shell 100% (operator) Mars B Ursa Rydberg Brutus . Shell ~57% (operator) . >100 million boe resources Cardamom Auger Vito . Re-scoping to a regional Caesar Tonga production facility . >300 million boe resources Stones . Shell 51.33% (operator) Perdido . ~50 kboe/d FPSO . >250 million boe resources Powernap1 . Shell 100% (operator) . Potential integration with Vito . 2016 start-up . Shell 50% (operator) 100 km

 Stones and Appomattox under construction On stream  New options: focus on capital efficient tie-backs + low cost hosts Under construction Option  Selective exploration 2014-16 exploration success

1 Block MC943

Royal Dutch Shell | June 7, 2016 53 Conventional oil Selective growth Thousand barrels per day Clair ph2 + gas 300 Tempa Rossa

Significant cash engine for others 200 Shell Corrib Kashagan Sabah gas Schiehallion 100 Knarr G-U ph2 others

0 2014-15 2016-17 2018-19 ~2020 Schiehallion FPSO Start-ups: 2014-15 2016-17 2018+

Capital investment

$ billion 10 -30%

5  Substantial growth ‘17-’19

 Drives improved free cash 0 flow Kashagan, Kazakhstan 2013-2015 2016-18

Royal Dutch Shell | June 7, 2016 54 2016 targets

Track record + Heartlands UK Russia Netherlands Germany Frontier Canada exploration Albania

Egypt strategy USA Oman Trinidad China &Tobago Nigeria Brunei Malaysia

Tanzania

Prospect Time to size production Resources added 2010-2015 (million boe) (years) Heartland Resources (billion boe) Under- >250 10+ Australia 1.4 FRONTIER explored basins Gulf of Mexico 1.2 Brazil 1.0  Spend ~$2.5 billion/year Malaysia 0.5 Near field 1-250 1-5+  50% reduction 2015-16 Nigeria 0.3 HEART exploration LANDS and new  Heartlands + near field focus Brunei 0.3 plays Oman 0.2

Royal Dutch Shell | June 7, 2016 55 Upstream Cash engine Growth priorities Future opportunities

Conventional oil & gas Deep water Shales

Capital employed and production based on Q1 2016

Royal Dutch Shell | June 7, 2016 56 Maarten Wetselaar Integrated Gas Director Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016 Integrated Gas Cash engine Future opportunities

Integrated Gas New energies

LNG Gas-to-Liquids Oil + gas production

Sakhalin LNG Liquefaction

Pearl GTL Qatargas 4 Marketing & trading

Muscat LNG Regasification  Focus on:  Cash + returns Hazira, India: LNG jetty  Create + secure new demand  IOC leadership in growing market  Operational excellence  Energy transition  Moderate growth  BG integration benefits  Building GTL product premium  Leverage adjacencies  New energies opportunities  Moderate growth  Explore + invest

Royal Dutch Shell | June 7, 2016 58

Integrated Gas Earnings Capital employed financial $ billion $91 billion as at Q1 2016 performance 10

In service Under construction 0 2012 2013 2014 2015 2016 Q1 4Q rolling

Cash flow + ROACE LNG plant availability

$ billion % % 15 30 100

10 20 90

5 10 80

0 0 70 2012 2013 2014 2015 2016 Q1 Q115 Q215 Q315 Q415 Q116 4Q rolling Cash flow ROACE (RHS)

Royal Dutch Shell | June 7, 2016 59 LNG supply + Global LNG supply + demand outlook Demand growth drivers 2015-2030 demand Million tonnes per annum 2030 ~10% 500 Downstream LNG ~15% New LNG markets 400

300 ~20% Newly importing LNG markets*

200

100 ~55% Established LNG markets 0 2000 2005 2010 2015 2020 2025 2030 In operation Under construction Demand forecasts 2015

* Markets importing LNG less than 5 years  2015-20: >100 mtpa supply growth  Predominantly contracted volumes  Supply driven market till end of decade

 2020 to 2030  Asia continues as main growth area  Majority of new supplies from North America and potentially East Africa

 Supply gap emerging early 2020s

Royal Dutch Shell | June 7, 2016 60 LNG: Shell + BG Sakhalin

Sabine Pass QG-4

Oman Nigeria Brunei Atlantic LNG Equatorial Guinea Malaysia Equity capacity LNG Peru Gorgon Long-term offtake agreement NWS Pluto Spot offtake in 2015 QCLNG Deliveries in 2015

LNG volumes Liquefaction capacity

Million tonnes per annum Capacity at year-end in million tonnes per annum 40 50 16Q1  IOC leadership position extrapolated 20  Global footprint 25

 Value from optionality 0 0 2011 2013 2015 Shell + BG Exxon BP Total Chevron

Shell LNG sales volumes 2015 Shell LNG liquefaction volumes

Royal Dutch Shell | June 7, 2016 61 LNG pricing Shell LNG sales + pricing linkage Regional gas prices Million tonnes per annum (2015 basis, Shell +BG) $ per mmbtu 60 25

50 20

40 15 30

Term contracts 10 20 (2-20 years) ~80%

5 10

0 0  Continued demand for oil + Sources Deliveries 2005 2007 2009 2011 2013 2015

gas hub linked LNG pricing Spot purchase Short-term ‘spot’ Japan landed LNG price Henry hub (US)  Oil-price linkage reinforced Term purchase Gas hubs (e.g. NBP, HH) Liquefaction volumes Oil linked: 3-6 months lag National balancing point (UK) Brent

Royal Dutch Shell | June 7, 2016 62

Developing new  Portfolio of opportunities to Growing and diversifying market: Asia market LNG Million tonnes per annum LNG markets 300  Regas terminals 200  Create a new value chain in LNG to transport 100

0 2000 2005 2010 2015 2020 2025 Japan Taiwan China Malaysia Korea India Indonesia Others Transport Regasification

The Netherlands UK

Spain Gibraltar China Qatar

Kakinada Vietnam Hazira Philippines Myanmar Capacity rights Proposed LNG truck re-fuelling station Rotterdam, Netherlands LNG for transport project Singapore

Royal Dutch Shell | June 7, 2016 63 Moderating our Options FEED Under construction On stream LNG sales growth rate: Shell + BG LNG Abadi Arrow Lake Charles Gorgon T2-3 Gorgon T4 LNG Canada Prelude NLNG T7 Sabine Pass T2-4* Sakhalin T3 Prince Rupert Elba* Browse QCLNG T3 others*

Tanzania LNG Prelude 2018

Option recycled

Gorgon 2016  Reduce FID pace

 Focus on project cost competitiveness

* Offtake rights

Royal Dutch Shell | June 7, 2016 64 New energies Exploring new opportunities

New fuels

Integrated Connected energy customer solutions

New fuels Integrated energy Connected customer  Winning company in the solutions energy transition  Cleaner transportation  NL + USA wind  Connected mobility  Established credentials:  Biofuels + hydrogen  Solar for EOR Oman  Connected energy exploring options

Royal Dutch Shell | June 7, 2016 65 Ben van Beurden Chief Executive Officer Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016 2013-2015 2019-2021 Transformation average average

ROACE 8% ~10% CREATE A WORLD CLASS INVESTMENT CASE Organic free cash flow $5 billion p.a. $20-25 billion p.a.

Brent ~$90 ~$60

Improved capital Capital efficiency: Less cost + fewer Portfolio growth: efficiency: reduced 2013 spending people with BG than 1 mboe/d adds investment/FCF ratio halved & $45 billion Shell stand-alone: $10 bln cash flow mitigated 12,500 fewer staff

Improving our metrics: Simpler company: Exit $30bn divestments: Energy transition: FCF/share; ROCE; ~10% production; Innovative deals like CO2 footprint & new net debt 5-10 countries Motiva, Showa energies strategy and MLP

Royal Dutch Shell | June 7, 2016 67 Questions & Answers

Royal Dutch Shell | June 7, 2016 Start up Project Country Shell share Peak LNG 100% Products Legend Theme Shell (direct & Production Capacity Operated Projects under indirect) % 100% mtpa kboe/d construction 2016-17 Forcados Yokri Interagted Project (FYIP) Nigeria 30 50  Conventional oil + gas  Gbaran-Ubie Ph2 Nigeria 30 150  Conventional oil + gas  Geismar AO4 United States 100 425 kta alpha olephins  Chemicals  Kashagan ph1 Kazakhstan 17 300  Conventional oil + gas Lapa Brazil 30 79  Deep water Lula Central Brazil 25 131  Deep water Lula Extreme South Brazil 25 142  Deep water Lula South Brazil 25 145  Deep water Malikai Malaysia 35 60  Deep water  ML South Brunei 35 35  Conventional oil + gas NA LRS / tight gas USA/Canada various 82  Shales  Pernis solvent deasphalting Netherlands 100 7.2 kbpd  Oil Products  Schiehallion Redevelopment United Kingdom 55 125  Conventional oil + gas Scotford HCU debottleneck Canada 100 14 kbpd  Oil Products  Stones United States 100 50  Deep water  2018+ Appomattox United States 79 175  Deep water  Atapu North** Brazil 25 148  Deep water Atapu South** Brazil 25 147  Deep water Baronia / Tukau Timur Malaysia 40 65  Conventional oil + gas Berbigão/Sururu** Brazil 25 134  Deep water Conventional oil + gas Clair Ph2 United Kingdom 28 100  Conventional oil + gas Integrated Gas Coulomb United States 100 20  Deep water  Oil sands mining Lula North Brazil 25 147  Deep water Nanhai China Chemicals China 50 1200 kta C2  Chemicals Oil Products Pennsylvania cracker United States 100 1500 kta C2  Chemicals  Deep water Prelude FLNG Australia 68 110 3.6 1.7 mtpa NGLs  Integrated gas  Chemicals Rabab Harweel Integrated Project Oman 34 40  Conventional oil + gas Shales Southern Swamp AG Nigeria 30 30  Conventional oil + gas  Tempa Rossa Italy 25 45  Conventional oil + gas New energies ** The Berbigão, Sururu and Atapu accumulations subject to unitisation agreements

Royal Dutch Shell | June 7, 2016 69 Phase Project Country Shell share Peak LNG 100% Products Legend Theme Shell (direct & Production Capacity Operated Pre-FID options indirect) % 100% mtpa kboe/d SELECT Kaikias United States 100 40  Deep water  Libra pilot FPSO Brazil 20 150  Deep water LNG Canada T3-4 Canada 50 13  Integrated gas DEFINE Bonga South West Nigeria 43 205  Deep water  Bokor Malaysia 40 12  Conventional oil + gas Changbei II China 50 57  Integrated gas  Deer Park OP3 United States 100 ~800 kta C2  Oil Products  Lake Charles United States 100 15  Integrated gas  LNG Canada T1-2 Canada 50 13  Integrated gas Penguins Redevelopment United Kingdom 50 40  Conventional oil + gas  Sakhalin T3 Russia 28 ~5  Integrated gas Val d'Agri Ph2 Italy 39 60  Conventional oil + gas Vito United States 51 100  Deep water 

Conventional oil + gas Integrated Gas Oil sands mining Oil Products Deep water Chemicals Shales New Energies

Royal Dutch Shell | June 7, 2016 70 HSSE Goal Zero on safety Spills - operational performance Injuries – TRCF/million working hours million working hours Volume in thousand tonnes 10 4 800

5 2 600

0 400 0 '05 '07 '09 '11 '13 '15 16Q1 '05 '07 '09 '11 '13 '15E 16Q1 TRCF Working hours (RHS)

Energy intensity – refineries Process safety

Energy Intensity Index (EEITM) Number of incidents 104 400 100  HSSE priority 200 96  Performance + transparency 92 0 '05 '07 '09 '11 '13 '15 16Q1 2013 2014 2015 16Q1

Tier 1 incidents Tier 2 incidents

Excludes BG

Royal Dutch Shell | June 7, 2016 71 Manage down-cycle Earnings + ROACE Cash flow

Financial $ billion % $ billion $ billion performance 30 15 45 45 20 10 30 30

10 5 15 15

0 0 0 0 2012 2013 2014 2015 16Q1 2012 2013 2014 2015 16Q1 -10 4Q rolling -5 -15 4Q rolling -15 Upstream Downstream ROACE (RHS) CFFO Free cash flow (RHS) Integrated gas Corporate/Other Cash investment

Dividend, buyback + gearing

$ billion % 20 30

20 10  Integrated business + results 10  Lower oil prices

0 0 2012 2013 2014 2015 16Q1 4Q rolling Dividend declared End period gearing (RHS) Buyback

Royal Dutch Shell | June 7, 2016 72 Deliver new Project status projects Construction time elapsed % Pennsylvania cracker Project management Geismar AO4 Pernis solvent de-asphalting Appomattox Baronia/Tukau Timur Coulomb Rabab Harweel Integrated Project Nanhai China Chemicals Southern Swamp Tempa Rossa Prelude FLNG Berbigao Clair Ph2 Gbaran Ubie Ph2A Atapu South Atapu North Scotford HCU Debottleneck Lula North Lula Extreme South Malikai Forcados Yokri Integrated Project (FYIP) Schiehallion Redevelopment Gbaran Ubie Ph2B Lula South  Oversight and accountability Lapa NE Lula Central  Track record Stones ML South

0 50 100

Royal Dutch Shell | June 7, 2016 73 NEW MEXICO Permian Wolfcamp EUR improvement

Delaware Basin % 300 +130% 200

100 0 2013 2014 2015 TEXAS

Wolfcamp well cost improvement SHELL LEASES $ million

20  Premier LRS play in North America -60%

 ~300,000 net acres with >5,000 well locations 10

 Multiple areas de-risked + ready for development 0 2013 2014 2015 2016 Q1  Moving to longer laterals + well-pad activity

Drilling Completion Facilities Land + site prep

Royal Dutch Shell | June 7, 2016 74 Oil products: Marketing led growth

Europe 9,000

North America 16,000

Retail presence Marketing growth # Retail sites

 Marketing led growth Africa 2,000  Growth in China, India, East 9,000 Indonesia, Russia and Latin America 7,000 Mexico

 Retail presence in 70 countries + 43,000 sites

Royal Dutch Shell | June 7, 2016 75 Refining projects Canada - Scotford NW Europe – Pernis Improving our refining footprint

Scotford, Canada Pernis, The Netherlands

 Quest carbon capture + storage (CCS) start-up 2015  Pernis: aromatics project  High return projects  Hydrocracker debottlenecking  Pernis: solvent de-asphalting improving site  Expansion 14 kbbl/d  Pernis: base-oil plant closure competitiveness  Start-up Q4 2016

Royal Dutch Shell | June 7, 2016 76 Oil sands mining Energy intensity Canada AOSP Shell unit operating costs GJ per tonne produced $ per barrel 60 6

40 -50% 4

20 2

0 0 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 Q116 Cash operating cost excl. energy DD&A (clean) Energy

 Focus on emissions management  Successful turnarounds in 2015 and 2016  Aiming for equivalent intensity to average barrel  Significant focus on cost refined in US  Staff and contractor reductions of >700  Progress over a number of years:  Integrated mine planning  Start up of Quest CCS – 1 mtpa CO2

Royal Dutch Shell | June 7, 2016 77

LNG: Australia North West Shelf (1989) Queensland Curtis (2015) Gorgon LNG (2016) Prelude FLNG (2018)

 16.3 mtpa LNG  8.5 mtpa LNG  15.6 mtpa LNG  5.3 mtpa LNG + NGLs  First Australian LNG  2010: FID  2009: FID  2011: FID  Operating since 1970s  2014: first LNG  2016 : first LNG  LNG vessel under construction  Shell 16.67%  2015: commercial  Shell 25%  operations T1&T2 Drilled and completed all wells  2016:100th cargo  Shell 67.5% (operator)  Shell 50% T1 + 97.5% T2 (operator)

Royal Dutch Shell | June 7, 2016 78 Integration with BG Queensland LNG Brazil pre-salt

BG portfolio: Thousand boe per day # Thousand boe per day FPSO Cidade de Maricá Q1 2016 200 T2 start up 40 200 Cidade Itaguaí Australia + Brazil Nov 2015 Q3 2015

150 30 150 1st LNG Train 1 Dec 2014 100 20 100

50 10 50

0 0 0 2015-Jan 2016-Jan 2014-Jan 2015-Jan 2016-Jan production Number of cargoes delivered in the quarter (RHS)

QCLNG terminal, Curtis island, Australia FPSO Cidade de Itaguaí, Brazil

Source: BG

Royal Dutch Shell | June 7, 2016 79 Capital markets day 2016 Re-shaping Shell, to create a world-class investment case

Royal Dutch Shell plc June 7, 2016

“Let’s make the future”

Royal Dutch Shell | June 7, 2016