simon henry - credit suisse conference in vail colorado, february 8, 2012

ROYAL DUTCH SHELL

COMPANY UPDATEFebruary 8, 2012

1 Copyright of Royal Dutch Shell plc 2 February 2012

ROYAL DUTCH SHELL

SIMON HENRYCHIEF FINANCIAL OFFICER


DEFINITIONS AND CAUTIONARY NOTE

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

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this presentation “Shell”, “Shell group” and “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 presentation refer to companies in which Royal Dutch Shell either directly or indirectly has control, by having either a majority of the voting rights or the right to exercise a controlling influence. The companies in which Shell has significant influence but not control are referred to as “associated companies” or “associates” and companies in which Shell has joint control are referred to as “jointly controlled entities”. In this presentation, associates and jointly controlled entities are also referred to as “equity-accounted investments”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect (for example, through our 24% shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.

This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements 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


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’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘probably’’, ‘‘project’’, ‘‘will’’, ‘‘seek’’, ‘‘target’’, ‘‘risks’’, ‘‘goals’’, ‘‘should’’ 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 presentation, 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 potential litigation and regulatory measures as a result of climate changes; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this presentation 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 factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended 31 December, 2010 (available at www.shell.com/investor and www.sec.gov ). These factors also should be considered by the reader. Each forward-looking statement speaks only as of the date of this presentation, 8 February 2012. Neither Royal Dutch Shell 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 presentation. There can be no assurance that dividend payments will match or exceed those set out in this presentation in the future, or that they will be made at all.

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

SHELL

Customer and partner focus

Profitability & performance

� Managing through extreme volatility

� Updating our outlook


partner focus performance

Sustainability & growth

Value added technology

� Through-cycle investment and portfolio choices

injuries – TRCF/million working hours million working hours

‘GOAL ZERO’ ON SAFETY

CONTINUED FOCUS ON HSSE PERFORMANCE

400

500

600

700

800

900

0

1

2

3

4

5� Focus on personal and process safety

� Rigorous global standards

� Industry leader in Sustainable Development


EMPLOYEES AND CONTRACTORS PER MILLION WORKING HOURS; SHELL OPERATED FACILITIES; PRELIMINARY ESTIMATE FOR 2011

4000'01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11

� Industry leader in Sustainable Development

WORKING HOURS (RHS) TRCF

Carmon CreekGeronggong

BC-10 Ph. 3 (Massa)

GROWTH DELIVERY 2009-2011CONVERTING RESOURCES TO PRODUCTION

15

25

35

billion boe resources

Longer-term upside

Prelude FLNGAOSP debottl.NA tight gas /

shalesClair Ph2

Tempa RossaFramMalikai

AOSP debottl. + QuestNA tight gas/shales


2010 2011-5

5

15

2008 2009

Growing opportunity funnel12 bln boe on stream, maturing additional ~20 billion boe

PRODUCTIONON-STREAM STUDYUNDER CONSTRUCTION

2012

Clair Ph2Schiehallion

Pearl GTLQatarGas-4Schoonebeek

Qarn Alam EORWest Qurna 1 IPT

Pluto (Woodside) Harweel

NA tight gas/shalesEagle Ford

� 12 billion boe resources on stream

� Drive new cashflow growth:

� +30-50 % CFFO 2012-15 versus 2008-11*

2012+ PRIORITIES

GROWTH DELIVERY

CONTINUOUS IMPROVEMENT


* CFFO OUTLOOK @$80-$100/BBL BRENT AND ASSUMES IMPROVED US GAS AND DOWNSTREAM ENVIRONMENT FROM 2011; CFFO EXCLUDES WORKING CAPITAL MOVEMENTS

� +30-50 % CFFO 2012-15 versus 2008-11*

� Maturing >60 projects; ~20 billion boe resources

� Exploration + bolt-on deals

� 2017-18 production potential ~4 mboe/d average

MATURE NEW OPTIONS

PERFORMANCE FOCUS

ROYAL DUTCH SHELL

2012+ GROWTH PROJECTS


GROWTH DELIVERY 2012+KEY PROJECTS UNDER CONSTRUCTION

Eagle Ford

Mars B

North America tight gas

AOSPDebottlenecking

Clair Ph2Schiehallion

Redevelopment

CorribKashagan Ph1

Majnoon FCP

UAE

Port Arthur


26 projects under construction

2012-13

2016+

2014-15

START-UP DATE

Bonga NW

BC-10 Phase 2

Mars B

Cardamom

Harweel

Amal Steam

UAE

Gumusut-KakapSabah Gas Kebabangan

Pluto LNG T1 (Woodside)Gorgon LNG T1-3

North Rankin 2

Prelude FLNGWheatstone LNG

Greater Western Flank Ph 1

0

10

20

30

Under Construction

billion boe

RESOURCES

Browse 0.0

20.0

40.0

GROWTH DELIVERY 2012+ MAINTAINING LNG LEADERSHIP

SHELL GLOBAL LNG CAPACITY GROWTH

Wheatstone& Prelude

Gorgon T1-3

Pluto T1 (Woodside)

mtpa

2011 ~2020+

ONSTREAM CONSTRUCTION OPTIONS

AUSTRALIA – INDONESIA: 2011 PROGRESS

Prelude FLNG

Abadi FLNG

Greater Sunrise

Abadi entry• Inpex 60%• Shell 30%• EMPI 10%

2012 FEED

Wheatstone North West Shelf

FIDs


0

10

20

30

Shell Exxon Chevron BG Total BP

year end mtpa

� ~20 mtpa on-stream � ~8 mtpa under construction� Assessing ~ 15 mtpa future options

� ~90% long-term contracted

� ~80% of portfolio oil price linked

SHELL LNG LEADERSHIP

ONSTREAM CONSTRUCTION OPTIONS

2011 2017

PROJECTS ONSTREAM OR UNDER CONSTRUCTION

Arrow Energy LNG:Bow Energy acquisitionShell-PetroChina 50/50

UNDER CONSTRUCTION

PRODUCTION

OPTIONS

Pluto (Woodside)

Wheatstone

Gorgon

North West Shelf

GROWTH DELIVERY 2012+ REGAINING MOMENTUM IN GULF OF MEXICO

MarsUrsa

Nakika

Brutus

Vito� ~100 kboe/d potential� >200 million boe resources� Shell 55% (operator)

Appomattox� ~100 kboe/d hub potential � Appraisal drilling underway� > 250 million boe resources� Shell 80% (operator)

Mars-BW.Boreas, S. Deimos

100 km

Mars-B, Olympus tension leg platform


UNDER CONSTRUCTIONONSTREAM OPTIONS

Auger

HolsteinPerdido

Stones� 45 kboe/d potential� Shell 35% (operator)

Caesar Tonga

Cardamom Deep

2005 2010 2015 2020

Caesar Tonga

Mars B

Cardamom

Stones

Appomattox

Vito

FID START-UPDISCOVERY

~185 kboe/d 2011- ~350 kboe/d potential ~2017

Drilling 5+ exploration wells 2012

Mars-B, Olympus tension leg platform

ROYAL DUTCH SHELL

MATURING NEW GROWTH OPTIONS


0

2

4

6

MATURING NEW GROWTH OPTIONSDOWNSTREAM: SELECTIVE GROWTH

CHEMICALS

REFINING

GROWTH

BASE

2012 CAPEX

Qatarchemicals

Gas-to-chemicals

UK Retail

Raízen

Port Arthur

UNDER DEVELOPMENT

$ billion

Lubes RussiaLNG to transport

Rhineland Connect

China Retail + LubesChina refining and chemicals


MARKETING/OTHER

REFINING BASE

Value chains and leveraging our brand

UNDER DEVELOPMENT

OPTIONS

2011 DEALS

Qatar chemicals

Gas-to-chemicals US

China

Singapore chemicals Raízen Port ArthurNanhai chemicals

2006 2010 2011 2012 FUTURE

MATURING NEW GROWTH OPTIONS 2011 EXPLORATION + BUSINESS DEVELOPMENT 2011 EXPLORATION & ACQUISITIONS

0

2

4

RESOURCES MATURATION / POTENTIAL

Zaedyus

Acme West

Clair

Tologbene

Marcellus

Eagle Ford

Groundbirch

China tight gas

billion boe

MarcellusEagle Ford

IraqArrow

AbadiLiquids-rich

shales

OIL

GAS

Groundbirch


-2

0

'08 '09 '10 '11

� 2011 delivery:� 2.3 billion exploration + appraisal� >4 billion boe E&A + deals~; ~30% tight/shale gas

� >140,000 km2 new acreage in 2011

� 2008-11 delivery: ~13 billion boe at $2-3/boe (E&A + deals)

APPRAISAL

DISCOVERY NEW EXPLORATION ACREAGE

RESOURCES PLAY ENTRY

Acme West

Vos

Arrow

Satyr-3

EXPLORATION/APPRAISAL

DISPOSALS

PRODUCTION

RESOURCES-BASED DEALS

MATURING NEW GROWTH OPTIONS BUILDING WORLD-WIDE TIGHT GAS + LIQUIDS-RICH SHALES PORTFOLIO

Pinedale

Groundbirch

Deep Basin

Foothills

Egypt

Utica

Wolfcamp

Turkey

Oman

Bakken

Niobrara

Mississippi Lime

Eagle Ford

GermanyMontney

Canol

MontereyHaynesville

Ukraine

China tight gas

Wells Manufacturing JV with CNPCMarcellus


Drilling rig – Alberta

~50,000 km2 (~12 million acres) acreage world wide ~12,000 km2 (~3 million acres) liquids-rich shales added 2011; ~$2 billion, ~$825/acre

Oman

Neuquen

Colombia

LIQUIDS POTENTIAL

2011 ENTRY

TIGHT GAS

LEVERAGE SHELL INTEGRATION KNOW-HOW

� Gas into oil pricing opportunity

� Assessing gas potential:

• LNG-for transport Canada

MATURING NEW GROWTH OPTIONSNORTH AMERICA GAS VALUE CHAINS

Canada Green Corridor FID 2011� FID for 0.3 mtpa LNG� Long distance truck fuel� LNG retail infrastructure

Fort Mc Murray

Edmonton

Calgary

Jumping PoundVancouver

Fort St John

Grande Prairie

EXAMPLE: COMMERCIALISING LNG FOR TRANSPORT


• LNG-for transport Canada

• Western Canada LNG

• Gas-to-chemicals in Appalachia

• GTL options

Canada: Jumping Pound Gas Plant LNG powered truck

ENGINES MODIFIED FOR LNG

20

30

CAPITAL INVESTMENT

capital investment $ billion

Clair Ph2

Cardamom Sabah Gas Kebabangan

AOSP Debottlenecking

SchiehallionRedevelopment

North America tight gas

Basrah Gas Company

Abadi FLNG

Qatar chemicals

US chemicals

NA LRS

Eagle Ford

UPSTREA

M

TIGHT/SHALE OIL/GAS

Thematic

HEAVY OIL & EOR

DEEPWATER

EXPLORATION

UK RetailLNG for transport

Mars-B

STRONG PROJECT FLOW DRIVES INVESTMENT GROWTH


20120

10

Wheatstone LNG

Prelude FLNGRaízen

Abadi FLNG

$ billion 2010

2011

Target 2011

2012

Target

Organic investment 24 28 26 ~32

Acquisitions 7 2.5 5

Disposals (7) (5) (7) (~2-3)

Net Capital Investment 24 25-27 24 ~30

FID 2010-2011

2011 PORTFOLIO GROWTH

NWS GWF Ph1

UPSTREA

M

INTEGRATED GAS

TRADITIONAL

DOWNSTREAM

BC-10 Ph2

100

150

200

$ billion

$87/bbl Brent

$80/bbl

3.5

4.0

million boe/day

OIL & GAS PRODUCTION + OUTCOMES SUSTAINED CASH FLOW GROWTH

GROWTH DELIVERY 2012+UPDATING OUR GROWTH OUTLOOK

$100/bbl

100

150

200


0

50

100

2008 -2011 2012 – 2015 POTENTIAL

2.5

3.0

2009 2010 2011 2017-18 average

PRODUCTION + POTENTIAL

FUTURE ASSET SALES AND LICENSE EXPIRIES

2010-11 ASSET SALES

PRODUCTION OUTLOOK @ $80/BBL BRENT. CFFO OUTLOOK ASSUMES IMPROVED US GAS AND DOWNSTREAM ENVIRONMENT FROM 2011; CFFO EXCLUDES WORKING CAPITAL MOVEMENTS

CASH FLOW FROM OPERATIONS

NET CAPITAL INVESTMENT

DIVIDENDS AND BUYBACKS

0

50

100

� 12 billion boe resources on stream

� Drive new cashflow growth:

� +30-50 % CFFO 2012-15 versus 2008-11*GROWTH DELIVERY

CONTINUOUS IMPROVEMENT

2012+ PRIORITIES

SUMMARY


* CFFO OUTLOOK @$80-$100/BBL BRENT AND ASSUMES IMPROVED US GAS AND DOWNSTREAM ENVIRONMENT FROM 2011; CFFO EXCLUDES WORKING CAPITAL MOVEMENTS

� +30-50 % CFFO 2012-15 versus 2008-11*

� Maturing >60 projects; ~20 billion boe resources

� Exploration + bolt-on deals

� 2017-18 production potential ~4 mboe/d average

MATURE NEW OPTIONS

PERFORMANCE FOCUS

ROYAL DUTCH SHELL

Q&A


simon henry - credit suisse conference in vail colorado, february 8, 2012

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