Shell Capital Markets Day 2016 Analyst Webcast Presentation Slides 160607122448

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

June 7, 2016
Lets make the future
Royal Dutch Shell | June 7, 2016

Ben van Beurden
Chief Executive Officer

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 managements 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 managements 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 Shells 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 Shells 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 financial framework
todays free cash flow
Grow free cash flow per Re-set our costs
Growth priorities
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

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

Industry context Global population Growth in oil & gas demand Energy system in transition
Substantial +
long lasting World needs
shifts in energy more energy;
less CO2
landscape 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

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%
energy consumption Gas
100
supply Renewables 4%
Losses + Oil
4.3
btoe transformation
0
2000 2013 2030
IEA 450
Managing our emissions

Continued investing in gas
New energies business

Strategy
Lets 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

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

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
2013 Today
300
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
downstream, proceeds from MLP, others
0
ROACE on a clean CCS basis

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

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%
Balancing cash-in -$2 billion
-$13 billion
Buybacks
-12 %
& cash-out Corporate/other $9 billion
Oil price ~$87 $29 billion $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

Capital investment
Re-shape Shell $ billion 2016 2017-18
Capital
$ billion
50
Oil products 3 3-4
allocation -35%
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

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

Re-shape Shell Liquefaction capacity
Integrated Gas Period-end in million tonnes per annum
from growth Sakhalin

45
2018
30
priority to cash 15
Sabine Pass
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 16Q1
NWS 40
Pluto QCLNG extrapolated
20
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

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

Re-shape Shell Chemicals capacity Deep water production
Deliver Million tonnes per annum, ethylene Thousand boe per day
profitable 8
1000
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

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

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

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

Simon Henry
Chief Financial Officer

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

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
* Shells reserves are calculated on a SEC basis and BGs 1P reserves are calculated on a PRMS basis, as published by the SPE

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

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

Integration with BG Synergies update
Synergies Corporate, administrative,
$ billion
update SG&A organisation and IT operational

efficiencies 4
Additional
synergies
Procurement Procurement spend1 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

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

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

Manage down-cycle Significant oil & gas +
Deliver new Downstream production under Thousand boe per day* Million tonnes per annum
projects construction
1200 15
Capex to free cash flow

800 10
High margin / price upside

400 5
barrels
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

2013 2014 2015 2016 2017+
Track record Oil sands mining Carmon Creek
Significant Shales
Deep water
Shales
Appomattox
reduction in Integrated Gas
Bonga South West
Arrow Greenfield LNG
project flow Elba LNG
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 dAgri 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

Reduced Exploration expenditure
exploration $ billion
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 Shells producing basins
Reduced activity, restructuring, lower costs

Manage down-cycle Capital investment
Lower & more $ billion; excludes BG acquisition in 2016
predictable 60 58
capital 47 -35%
investment 40 36
$25-30 billion
29
20
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

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

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

John Abbott
Downstream Director

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

Downstream Earnings + ROACE Cash flow
financial $ billion
10
% $ billion
15
20
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

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

Improving our Portfolio change Asset sales
Downstream Backbone / grow:

$ billion
footprint and Chemicals

China 4
Australia DS
performance
LNG for transport
Premium fuels + lubes Italy DS
Refinery crude flexibility MLP
others others Denmark
3 MLP
Fix:
Showa Shell
Netherlands +
others
Rheinland Stanlow refinery
Attractiveness
manufacturing Shell Chile
Singapore fuels
Exit: LPG Northwest Europe
Motiva JV restructuring 2 Norway
Australia others
others
Denmark UK retail sites
Harburg LPG France
Italy MLP
Optimise footprint LPG France

1
Tongyi
Norway others
Growth markets Selected UK retail sites
Tongyi lubricants China
Showa Shell
Capital discipline and project
Malaysia refining
delivery others
completed 0
2011 2012 2013 2014 2015 2016
Resilience announced

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

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 worlds 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

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)

Growth priority Ethylene capacity Under construction
Chemicals Million metric tonnes Pennsylvania
425,000 tonnes additional
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

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)

Andrew Brown
Upstream Director

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
Deliver profitable growth Production: 1.8 mboe/d Production: 0.6 mboe/d Production: 0.26 mboe/d
Capital employed and production based on Q1 2016

Upstream Earnings by strategic theme Earnings by geography
financial $ billion $ per barrel

120
$ billion
10 10
performance 60
5 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
Conventional oil + gas
Drive improvement + sustain 10 10
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

Reducing costs Upstream costs
+ improving $ billion
15
$ per barrel
30
-8%
performance -15%
Reduce costs + headcount 2014+
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

Upstream Conventional oil & gas Deep water Shales
Fit for the future Availability Availability Unit operating costs $/boe
100% 100% 20
-35%
80% 80%
10
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

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%
240
~12 billion boe -60%
4
25% liquids, 75% gas 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)

Deep water Reducing drilling costs Lowering capital intensity Shell + BG deep water growth
Example Gulf of Mexico
Capital efficient + profitable # drilling days $ thousand $ per boe break-even cost (examples) Thousand boe per day
growth Variable spread 75
rate + drilling 1000
200 750
-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
Pre-salt
2015 2020
baseline baseline
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

Pre-salt FPSOs delivery1
Deep water Brazil: On-stream
Pending development
On-stream Replicant owned
step change in Exploration 6. Iracema N. chartered

Chartering under
Chartered
Shell position
evaluation
5. Iracema S.
4. Sapinho N.
Berbigo
3. Lula NE. Lapa Libra EWT /Sururu2 Lula W.
Libra 2. Sapinho 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
Sagitrio
2010-15 2016 2017 2018 2019 2020+
(20%) Berbigo/
Iracema
Sururu/Atapu2
(25%)
(25%) Strong flow rates and performance
Lapa Lula
(25%) Top 10 pre-salt producer wells - ANP
(30%) Iracema #1
Sapinho Iracema #2
(30%)
Sapinho #1
100 km Iracema #3
Sapinho #2
Strong partnership with Petrobras Jubarte
Lula #1
Libra consortium continues appraisal work Iracema #4
Sapinho #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 Operators view
2 The Berbigo, Sururu and Atapu accumulations subject to unitisation agreements

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

Under construction
New options: focus on capital efficient tie-backs + low cost hosts
Option
Selective exploration 2014-16 exploration success
1 Block MC943

Conventional oil Selective growth
+ gas Thousand barrels per day

300
Clair ph2
Tempa Rossa
others
Significant cash engine for
Shell 200
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 2013-2015 2016-18
Kashagan, Kazakhstan

2016 targets
Track record + Heartlands UK Russia
exploration
Netherlands Germany
Frontier Canada
Albania
strategy USA
Egypt
Oman China
Trinidad
&Tobago Nigeria Brunei
Malaysia
Tanzania
Prospect Time to
size production
Resources added 2010-2015 (million boe) (years)
Heartland Resources (billion boe)

Under- 10+
>250
Australia 1.4 FRONTIER explored
basins
Gulf of Mexico 1.2
Brazil 1.0
Spend ~$2.5 billion/year Malaysia 0.5 Near field
50% reduction 2015-16 Nigeria 0.3 HEART exploration 1-250 1-5+
LANDS and new
Brunei 0.3
Heartlands + near field focus plays
Oman 0.2

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
Deliver profitable growth Production: 1.8 mboe/d Production: 0.6 mboe/d Production: 0.26 mboe/d
Capital employed and production based on Q1 2016

Maarten Wetselaar
Integrated Gas Director

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

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)

LNG supply + Global LNG supply + demand outlook Demand growth drivers 2015-2030
demand Million tonnes per annum

2030 ~10% Downstream LNG
500
~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

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 QCLNG
Spot offtake in 2015
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

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

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

Developing new Portfolio of opportunities to Growing and diversifying market: Asia
LNG markets market LNG Million tonnes per annum

300
Regas terminals
200
Create a new value chain in
100
LNG to transport
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

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

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

Ben van Beurden
Chief Executive Officer

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

Questions & Answers

Start up Project Country Shell share Peak LNG 100% Products Legend Theme Shell
Projects under (direct & Production Capacity

indirect) % 100% mtpa
Operated
construction
kboe/d
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
Berbigo/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
Lula North Brazil 25 147 Deep water
Oil sands mining
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
Southern Swamp AG Nigeria 30 30 Conventional oil + gas
Shales
Tempa Rossa Italy 25 45 Conventional oil + gas
New energies
** TheBerbigo,SururuandAtapuaccumulations subjecttounitisationagreements

Phase Project Country Shell share Peak LNG 100% Products Legend Theme Shell
Pre-FID options (direct & Production Capacity

indirect) % 100% mtpa
Operated
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

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

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

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

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

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

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

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

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)

Integration with BG Queensland LNG Brazil pre-salt
BG portfolio: Thousand boe per day # Thousand boe per day FPSO Cidade de Maric
Cidade Itagua Q1 2016
Australia + Brazil 200 T2 start up
Nov 2015
40 200
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 Itagua, Brazil
Source: BG

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

June 7, 2016
Lets make the future

Shell Capital Markets Day 2016 Analyst Webcast Presentation Slides 160607122448

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Capital markets day 2016

Royal Dutch Shell plc

Lets make the future

Royal Dutch Shell | June 7, 2016

Royal Dutch Shell | June 7, 2016

cautionary note Petroleum Engineers (SPE) 2P + 2C definitions.

Royal Dutch Shell | June 7, 2016 3

BG acquisition enables and accelerates change

Royal Dutch Shell | June 7, 2016 4

Royal Dutch Shell | June 7, 2016 5

From 7 to 9 billion by 2050 Global energy demand to

Customer choice Continued oil price volatility Changing resources access

Royal Dutch Shell | June 7, 2016 6

world Global energy demand, million boe per day

Coal 29% Bio-energy

Managing our emissions

Royal Dutch Shell | June 7, 2016 7

Focus portfolio on Reset cost and capital

Royal Dutch Shell | June 7, 2016 8

Asset value ahead of

Considerable upside potential:

Consideration Today Pre-completion view

Net debt Synergies PV

Royal Dutch Shell | June 7, 2016 9

ROACE on a clean CCS basis

Royal Dutch Shell | June 7, 2016 10

CONVENTIONAL INTEGRATED DEEP WATER CHEMICALS SHALES NEW

OIL SANDS OIL

Relentless portfolio high-grading

Royal Dutch Shell | June 7, 2016 11

Cash flow $140 billion 12 % ROACE

performance $87 billion Net debt

Interest & other

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

Divestments $22 billion

Royal Dutch Shell | June 7, 2016 12

30 Oil sands mining <1 <1

Excludes BG acquisition in 2016

Royal Dutch Shell | June 7, 2016 13

Moderate capacity growth rate

Strengthen the retained core

Oil sands mining

Royal Dutch Shell | June 7, 2016 14

from growth Sakhalin

Liquefaction (Shell) Liquefaction (BG) LNG offtake (BG) 0

Integrated gas is over 30% of Shell

13 mtpa liquefaction growth in Australia 2018

~20 mtpa market access in growth funnel

Royal Dutch Shell | June 7, 2016 15

Advantaged feedstock + growth markets

Royal Dutch Shell | June 7, 2016 16

Royal Dutch Shell | June 7, 2016 17

Energy transition themes

Royal Dutch Shell | June 7, 2016 18

Digital Energy Increasing

Royal Dutch Shell | June 7, 2016 19

Oil products 5 12 >5 ~15

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

Royal Dutch Shell | June 7, 2016

Pulling levers today to manage the financial

Royal Dutch Shell | June 7, 2016 22

2015 2018 Liquids Gas