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Barclays CEO Energy-Power conference Royal Dutch Shell plc

Ben van Beurden Chief Executive Officer September 7, 2016

Ben van Beurden Chief Executive Officer

Royal Dutch Shell plc

Royal Dutch Shell September 7, 2016

Definitions & cautionary note

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

• f 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, September 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 September 7, 2016 4

Strategy

“Let’s make the future”

Leader: : value + influence Reducing our carbon intensity Shared value with society

World-class investment case STRATEGIC

 Focus portfolio on resilient positions  Invest in advantaged projects  Value chain integration

 FCF/share + ROCE growth  Conservative financial

management

OPERATIONAL

 Reset cost and capital spending  First class execution projects +

• perations

 Unrelenting focus on HSSE and

licence to operate

Royal Dutch Shell September 7, 2016

Industry context

Substantial + long lasting shifts in energy landscape

2005 2010 Q1 2016 2000 2050

$

From 7 to 9 billion by 2050 75% will live in cities Global energy demand to double between 2000 & 2050 World needs more energy; less CO2 New sources New energy carriers New business models OPEC, shales, shorter price cycles Requires new value creation models Global population Growth in oil & g gas demand Energy s system in transition Customer choice Continued oil price volatility Changing resources access

5

Royal Dutch Shell September 7, 2016

Re-shape Shell

Driving strategy in multiple time horizons

Relentless portfolio io hig igh-gradin ing

Strong free cash flow and returns Cash engines: today Growth priorities: 2016+ Future opportunities: 2020+ Competitive + resilient Funds dividends + balance sheet FCF + ROACE pathway Affordable growth in advantaged positions Material value + upside Managed exposure Path to profitability Cash engines 2020+

CONVENTIONAL OIL + GAS CHEMICALS OIL PRODUCTS DEEP WATER INTEGRATED GAS OIL SANDS MINING SHALES NEW ENERGIES

6

Royal Dutch Shell September 7, 2016 7

Stronger results from smaller portfolio io

Earnings on CCS basis, excluding identified items

Cash engines

Example: Oil Products

 Advantaged feedstock + supply  Asset sales  Products + brand

2007 2015 Global weighted average refining margin (RHS) Oil products earnings Million barrels/day $ billion $ per barrel

• 20%
• 30%

+25%

Royal Dutch Shell September 7, 2016

25 50 2011 2013 2015

8

Cash engines

Example: Integrated Gas

 IOC leadership posit

itio ion

 Global footprin

int

 Va

Value from optio ionality

Million tonnes per annum

LNG volumes

Capacity at year-end in million tonnes per annum

Liq iquefaction ion capacit ity

2015 Shell LNG liquefaction volumes Shell LNG sales volumes LNG Peru QG-4 Atlantic LNG Oman Sakhalin Malaysia Sabine Pass Equatorial Guinea Pluto NWS Brunei QCLNG Gorgon Nigeria Shell + BG 16H1 extrapolated Equity capacity Long-term offtake agreement Spot offtake in 2015 Deliveries in 2015

Royal Dutch Shell September 7, 2016 9

Growth priorities

Example: deep water

Shell + BG deep water growth

Brazil Gulf of Mexico Other

Lowerin ing g capit ital in intensit ity

$ per boe break-even cost (examples)

Reducin ing g dril illin ing costs

# drilling days

2014 baseline Current

• 30%
• 40%

Current 2013/14 baseline Variable spread rate + drilling materials cost

$ thousand

 Deliv

ivering g world class development funnel

 Reducin

ing g break-even: : new proje jects ~$45/ ~$45/bbl bbl

2009 BC-10 2014 Mars B Gumusut-Kakap 2010 Perdido 2005 Bonga 2001 Brutus 1999 Ursa 1997 Ram Powell 1996 Mars 1994 Auger

Brazil Pre-salt Coulomb Appo Vito Kaikias

Current estimate - under construction Previous estimate Current estimate - pre-FID Example Gulf of Mexico

Under construction

Malikai Coulomb Appomattox Brazil pre-salt

Thousand boe per day

2016 Stones

Royal Dutch Shell September 7, 2016 Production excludes divested assets (2013-14) and BG Haynesville addition (2016H1)

Future opportunities

Example: shales

$ million per well 4 8 12 2013 2014 2015 2016H1

Average dril ill and complete costs – LRS wells

$ billion 2 4 2013 2014 2015 2016E

Capit ital in investment

~12 billion boe

Resources

Thousand boe per day 125 250 2013 2014 2015 2016H1

Productio ion

 Materia

ial resource + potentia ial ~12 bil illio ion boe

 25% liq

iquid ids, , 75% gas

 Reducin

ing g costs + im improvin ing capit ital effic icie iency

Western C Canada Gas Western C Canada LRS Appalachia ia Permia ian Argentin ina Ha Haynesvil ille

• 60%

+35% Liquids Gas Reserves Contingent resources -

• ther

Contingent resources - development pending Prospective resources

• 50%

Royal Dutch Shell September 7, 2016

Manage down-cycle

Financial performance

$ billion

Earnin ings + ROACE

$ billion

Div ivid idend, buyback + gearin ing

$ billion

Cash flow

 Prio

iorit ities for cash: :

 Debt reductio

ion

 Div

ivid idends

 Buybacks + capit

ital in investment

%

• 5

5 10 15

• 10

10 20 30 2012 2013 2014 2015 16Q2 4Q rolling

• 15

15 30 45

• 15

15 30 45 2012 2013 2014 2015 16Q2 4Q rolling 10 20 30 10 20 2012 2013 2014 2015 16Q2 4Q rolling CFFO Cash investment Free cash flow (RHS) Dividend declared Buyback End period gearing (RHS) Upstream Integrated gas Downstream ROACE (RHS) Corporate/Other % %

Royal Dutch Shell September 7, 2016 12 * $60 oil price scenario 2018 (2016 RT Brent)

Manage down-cycle

Pulling levers to manage financial framework

2016 2016-18 levers

Divestments Reduce capital investment Reduce

• perating

costs Deliver new projects

 Reducing our cash break-even  Further options available  +/- $10 Brent = ~5 billion CFFO

$ $ billion 20 2015 15 baseline: : Shell + + BG 2016 2016 2017 2017-20 2018 8 potential Operating costs 46 Trend to 40 (underlying) Multi-billion p.a. Capital investment 36 ~29 25-30 Divestments 6 + 5 6-8 in progress 30 over 2016-18 Projects start-up post-2014 (CFFO) n/a ~$2 billion ~10 billion by 2018*

Royal Dutch Shell September 7, 2016 13

Manage down-cycle

Divestments

Integrated gas split out from Upstream from 2011 onwards

$ billion

Div ivestment program

 $30 bil

illio ion 2016-18 18

 Progressing

g $6-8 bil illio ion 2016

 5-10 countrie

ies; ~10% of productio ion

10 20 30 2007-09 2010-12 2013-15 2016-18 Downstream/Corporate High grading ‘tail’ Infrastructure + mature positions Refocus portfolio Upstream Integrated Gas 2016 2016-2018 2018 com

• mpleted + a

+ annou

• unced

$ b $ bil illion ion Completed – MLP 0.8 – Denmark marketing 0.3 – N.Z.: Maui pipeline 0.2 – MGL IPO 0.1 – Others 0.1 Tot

• tal com
• mpleted

1. 1.5

Announced – Showa Shell ~1.4 – Brutus/Glider 0.4 – Malaysia refining ~0.2 – Anasuria cluster – Maclure Tot

• tal annou
• unced

~2 ~2.0 .0

TOTAL

~3 ~3.5 .5

In progress – Motiva JV end – N.Z.: upstream strategic review – Thailand strategic review – Selective North Sea strategic review

Div ivestments Reduce capit ital in investment Reduce

• peratin

ing costs Deliv iver new proje jects

Royal Dutch Shell September 7, 2016

20 40 60 2013 2014 15Q2 4Q rolling 2015 16Q2 4Q rolling 2016E 2017 - 20 avg 20 40 60 2013 2014 15Q2 4Q rolling 2015 16Q2 4Q rolling Shell + BG 2016E 2017 - 20 avg $25-30 billion

14 2016 excludes BG purchase price

$ billion

Capit ital in investment

Manage down-cycle

Lower & more predictable capital investment

 Planning for $25-$30 billion range  $30 billion/year ceiling  Trending low in range today  Options to further reduce below $25 billion if warranted

Shell BG

• 25%

Div ivestments Reduce capit ital in investment Reduce

• peratin

ing costs Deliv iver new proje jects

Shell + BG C.I. on a cash basis 58 47 41 36 53 43 37 33 31 ~29 29 ~26

Royal Dutch Shell September 7, 2016 15

Manage down-cycle

Reduce operating cost

Excluding identified items

$ billion

Operatin ing cost

10 20 30 40 50 2014 15Q2 4Q rolling 2015 16Q2 4Q rolling Shell + BG end-2016 run-rate Shell BG

Div ivestments Reduce capit ital in investment Reduce

• peratin

ing costs Deliv iver new proje jects

 Substantial reductions delivered  “Lower for ever” mindset + BG synergies  Staff, supply chain + contractors  Divestments, growth, FX impacts

• $4 billion

~40 49 46 44 42

Royal Dutch Shell September 7, 2016 * BG organic growth from 1.1.2016 | LNG volume includes offtake

 Significant oil & gas +

Downstream production under construction

 Capex to free cash flow  High margin / price upside

barrels

Manage down-cycle

Deliver new projects

 Cash operatin

ing cost <$15/boe

 Tax rate ~35%

16

Thousand boe per day* 2016-17 start-ups 2014-15 start-ups LNG volume (RHS) 2018+ start-ups Million tonnes per annum

Div ivestments Reduce capit ital in investment Reduce

• peratin

ing costs Deliv iver new proje jects

Royal Dutch Shell September 7, 2016 Competitive financial data as published. Free cash flow: cash flow from operations less cash used in investing activities. $/ADR for European companies. ROACE underlying: European companies: CCS basis excluding identified items. US companies: reported earnings excluding special non-operating items. Capital employed on gross debt basis.

Financial dashboard

%

Gearin ing

%

ROACE

$/share

Free cash flow per share

%

Total shareholder return

10 20 30

Q211 Q212 Q213 Q214 Q215 Q216

• 30
• 15
• 10

10 20 30

Q211 Q212 Q213 Q214 Q215 Q216

• 10
• 5

5 10

Q211 Q212 Q213 Q214 Q215 Q216 10 20 3 years to Q2 2016 12 months to Q2 2016 Shell Peer group

Royal Dutch Shell September 7, 2016 18

Transformation

CREATE A WORLD CLASS INVE VESTMENT CASE

Improved capital efficiency: reduced investment/FCF ratio Energy transition: CO2 footprint & new energies strategy Simpler company: Exit ~10% production; 5-10 countries Less cost + fewer people with BG than Shell stand-alone: 12,500 fewer staff Capital efficiency: 2013 spending halved & $45 billion mitigated Improving our metrics: FCF/share; ROCE; net debt $30bn divestments: Innovative deals like Motiva, Showa and MLP Portfolio growth: 1 mboe/d adds $10 bln cash flow

2019-2021 average 2013-2015 average

Brent ROACE ~$60 ~10% ~$90 8% Organic free cash flow $20-25 billion p.a. $5 billion p.a.

$60 oil price scenario (2016 RT Brent

Questions & Answers

Barclays CEO Energy-Power conference Royal Dutch Shell plc

Ben van Beurden Chief Executive Officer September 7, 2016