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Royal Dutch Shell plc June 7, 2016

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

“Let’s make the future”

Royal Dutch Shell | June 7, 2016

Royal Dutch Shell | June 7, 2016

Ben van Beurden Chief Executive Officer Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016 3

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 of 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

• f 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

• perating, 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 4

Key messages

 Cash engines

 today’s free cash flow

 Growth priorities

 deep water and

chemicals

 Future opportunities

 2020+ shales and new

energies

 Create a world class

investment case

 Grow free cash flow per

share, higher ROCE

 More resilient and more

focused company

RE-SHAPING SHELL MANAGING THE DOWN-CYCLE PORTFOLIO PRIORITIES

 Pulling levers to manage

financial framework

 Re-set our costs  Reduce debt

BG acquis isit itio ion enables and accelerates change

Royal Dutch Shell | June 7, 2016 5

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

Royal Dutch Shell | June 7, 2016 6

“2 degree world”

Global energy demand, million boe per day 100 200 300 2000 2013 2030 IEA 450

Global energy mix ix IEA ‘450’ scenario

Primary energy supply Oil 32% Coal 29% Gas 21% Renewables 4% Nuclear 4%

13 13.7 btoe

Energy consumption

9.4 9.4 btoe 4.3 4.3 btoe

Losses + + transformation Bio-energy 10%

 Managin

ing our emis issio ions

 Contin

inued d in investin ing g in in gas

 New energie

ies busin iness

Gas Oil Nuclear Coal Bio-energy Hydro Other renewables

Royal Dutch Shell | June 7, 2016

Strategy

“Let’s make the future”

Focus portfolio on resilient positions Invest in advantaged projects Unrelenting focus on HSSE and licence to operate Value chain integration First class execution projects + operations Reset cost and capital spending Strategic ic Operatio ional

FCF/share + ROCE g growth Conservativ ive fin inancia ial management Create a world-class in investment case

7

Shell a ambit itio ion:

 World-class investment case  Relevant in our industry +

growing value share

 Reducing our carbon

intensity

 Shared value

Consideration paid Today Pre-completion view

Royal Dutch Shell | June 7, 2016 8

Re-shape Shell

BG deal delivery

* 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

 Synergies: $4.5 billion 2018  Asset value ahead of

expectation

 Considerable upside potential:

 Oil price recovery  Shell reset

Cash & shares Net debt Portfolio NAV Synergies PV Valuation based on forward curves / consensus @ 15 Feb 2016* Shell reset Oil price uplift >$10 billion

Royal Dutch Shell | June 7, 2016 9

Track record

Significant changes delivered

ROACE on a clean CCS basis

100 200 300 Dow

• wnstream

Upstream Integrated Gas Cor

• rpor
• rate

Dow

• wnstream

Upstream Integrated Gas Cor

• rpor
• rate

$35 billion

Free cash flow

8%

ROACE

$35 billion

Dividend & buybacks

$22 billion

Divestments 2013-15 >>

2013 Today

Capital employed in $ billion, end 2013 / Q1 2016

 BG acquisition:

Deep water + LNG growth accelerated

 Reduced and re-phased pre-FID options  Cancelled Carmon Creek + Alaska  Divested Woodside (part), Australia

downstream, proceeds from MLP, others

 ~500 kboed start-ups + 13 FIDs  Restructured conv. oil + gas, Nigeria, shales

& oil products

Strong free cash flow and returns

Royal Dutch Shell | June 7, 2016

Re-shape Shell

Driving strategy in multiple time horizons

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

10

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+

Relentless portfolio io hig igh-gradin ing

Royal Dutch Shell | June 7, 2016

Re-shape Shell

Cash flow performance 2013-15

Free cash flow

$35 billion

ROACE 8% Interest & other $4 billion Cash dividend $26 billion Buybacks $9 billion Cash Engines $140 billion Growth Priorities $39 billion Future Opportunities

$15 billion Corporate/other

Divestments

Capital al Employed ed Cash flow Free cash flow + + ROACE

$87 billion $23 billion 12 % ROACE $24 billion $0 billion 11 %

• $2 billion

$64 billion

• $13 billion
• 12 %

$22 billion $3 billion $5 billion $24 billion $11 billion $2 billion Investment (cash) $29 billion

Net debt movement & other $4 billion  Balancin

ing cash-in in & c cash-out

 Oil

il pric ice ~$87

11 Slide shows end 2015 capital employed and 2013-15 cumulative CFFO and FCF

Royal Dutch Shell | June 7, 2016 12

Re-shape Shell

Capital allocation

Excludes BG acquisition in 2016

25 50 2014 2016E 2017 - 20 avg

 Reducin

ing g capit ital in investment

 More predic

ictable development flow

Future

• pportunities

Growth priorities Cash engines

$ billion

Capit ital in investment

• 35%

Shell BG 30 30 25 25

$ $ billion 2016 2016 2017 2017-18 18 Oil products 3 3-4 Conventional

• il + gas

5 5-6 Integrated gas 6 4-5 Oil sands mining <1 <1 Deep water 8 6-7 Chemicals 3 3-4 Shales 2 2-3 New energies <1 <1 Total ~29 ~29 25 25-30 30

Royal Dutch Shell | June 7, 2016 13

Re-shape Shell

Cash engines

Conventio ional oil il + gas Integrated d Gas Oil il Products Oil il sands min inin ing

 High grade portfolio  Exploration to maintain running room  Moderate capacity growth rate  Prioritise for cash delivery  Strengthen the retained core  Selective marketing growth  Improve macro resilience  Capture price upside

Name

15 30 45

2000 2005 2010 2015

Royal Dutch Shell | June 7, 2016

Re-shape Shell

Integrated Gas from growth priority to cash engine

Period-end in million tonnes per annum

Liq iquefaction ion capacit ity

Million tonnes per annum

LNG liq iquefactio ion volumes

20 40 2000 2005 2010 2015 Liquefaction (Shell) LNG offtake (BG) LNG Peru Nigeria QG-4 Atlantic LNG Oman Sakhalin Malaysia Sabine Pass Equatorial Guinea Pluto NWS Brunei QCLNG Gorgon

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

Optim imis ise for free cash flow growth

16Q1 extrapolated 2018

14

Liquefaction (BG)

Royal Dutch Shell | June 7, 2016 15

Re-shape Shell

Growth priorities

Deep water Chemic icals

 Growth in advantaged geology  Brazil + GOM in focus  Multi-billion barrels potential  Advantaged feedstock + growth markets  USA + China growth

Royal Dutch Shell | June 7, 2016 16

Re-shape Shell

Future

• pportunities

Shales New energie ies

 ~12 billion barrels resources + potential  Mature to ‘growth priority’  Energy transition themes  Explore + invest for longer term

Royal Dutch Shell | June 7, 2016 17

Future opportunities

New energies

 Hydrogen & biofuels  Wind & solar alongside gas  Customer solutions

New energie ies Investment context Energy Transition

Digital platforms Increasing electrification Greater customer choice Renewables growth Disruptive business models Mobility transition

Int Integrate grated d energy gy solu luti tions ns Ne New fue uels ls Co Conn nnecte ted d custo ustomer mer

Simon Henry Chief Financial Officer Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016

CFFO + Divestments Attractiveness, resilience Dividends + Buybacks 0 – 30% gearing through cycle

Royal Dutch Shell | June 7, 2016 19

Financial framework

Cash Performance Investment Pay-out Balance Sheet

 Creating value for shareholders through cycle  Pulling levers today to manage the financial

framework

 Multi-year timescales and planning  Positioning to cover dividends in down-cycle,

and generate excess free cash flow in up-cycle

Royal Dutch Shell | June 7, 2016 20

Integration with BG

Portfolio

* 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

Equity liquefaction capacity in million tonnes per annum 25 50 Shell + BG Exxon Chevron Total BP

LNG

billion boe 10 20 30 Exxon BP Shell + BG* Total Chevron

Oil il & g gas proved reserves - 2015 2015

Million boe per day

Oil il and gas productio ion

 BG transactio

ion accelerates our growth strategy

 Increased

d scale and portfolio io qualit ity – an

• pportunity to re-set Shell

Liquids Gas 2015 2018 Shell BG 2 4 Exxon Shell + BG Chevron Total BP

Royal Dutch Shell | June 7, 2016 21

Integration with BG

Integration timeline

 Deliver safe, efficient operations  Management announcements + talent review  Understand BG business & practices  UK + US office footprint  Transition plan: resourcing, systems & processes

End 2016 Integration completed 15 February 2016 BG acquisition completed Day 60 Day 30 Day 90

 Combine best practices and retain best staff  Staffing of combined organisation  Integrated business plan  Transition teams move to business as usual

Today

 Joint integration

planning team established

 Early preparation for

successful integration August 2015

2016 2017 2018

• 1

1 2 3 4

Royal Dutch Shell | June 7, 2016 22

Integration with BG

Synergies update

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

$ billion

Synergies update

 2018 synergie

ies in increased from $3.5 .5 bln to $4.5 .5 bil illio ion

 20

2017 17 deliv ivery of p prio ior 20 2018 18 target

Additional synergies

SG&A Procurement Marketing & shipping

 Corporate, administrative,

• rganisation and IT operational

efficiencies

 Reduced costs  Procurement spend1

Exploration

 Reduced activity via BG combination

Exploration synergies Costs synergies Synergies target as per prospectus

Royal Dutch Shell | June 7, 2016 23

Manage down-cycle

Cash flow priorities 2016-18

 Powerful levers to underpin

in fin inancia ial framework Priorities for cash

Debt reduction Dividends Buybacks & capital investment

1 2 3

Divestments Reduce capital investment Reduce

• perating costs

Deliver new projects

Royal Dutch Shell | June 7, 2016 24

Manage down-cycle

Divestments

Integrated gas split out from Upstream from 2011 onwards

$ billion

2016 2016-18 18

 Portfolio simplification and

high-grading

 Earmarked for disposal  Up to10% of oil + gas

production

 ~5-10 oil + gas countries  Selected mid-stream and

downstream Div ivestments program

 $30 bil

illio ion 2016-18 18

 Progressing

g $6-8 bil illio ion 2016 2016

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

2016-18 announced:

 Showa Shell  Maui pipeline  Denmark marketing   Malaysia refining  Motiva JV end  Further divestments

pending

completed

Upstream Integrated gas

Royal Dutch Shell | June 7, 2016 25

Manage down-cycle

Deliver new projects

* BG organic growth from 1.1.2016 LNG volume includes offtake

Thousand boe per day*

 Significant oil & gas +

Downstream production under construction

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

barrels

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

 Cash operatin

ing cost <$15/ <$15/boe

 Tax rate ~35%

~35%

5 10 15 400 800 1200 2014-15 2016-17 2018+

Royal Dutch Shell | June 7, 2016 26

Track record

Significant reduction in project flow



2013 2013 2014 2014 2015 2015 2016 2016 2017+ 2017+ Oil sands mining Carmon Creek Shales Shales Deep water Appomattox Bonga South West Integrated Gas Arrow Greenfield LNG Elba LNG Browse LNG US GTL Wheatstone LNG Abadi redesign MLNG Dua JVA LNG Canada Lake Charles Sakhalin Train 3 Conventional Bab

• il + gas

ADNOC Expiry MLNG DUA PSC Bokor & Betty EOR Val d’Agri ph2 Majnoon FFD Chemicals Al Karaana Geismar alpha olefins Pennsylvania cracker Nanhai 2nd cracker Oil products Scotford de-bottleneck Pernis de-asphalting

              

 ~$45

~$45 bil illio ion spendin ing mit itig igated 2014 2014-2020 2020

FID Cancelled/divest



Potential FID  Delay/deferral

Frontier

 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 27

Reduced exploration spend

$ billion

Exploratio ion expenditure

2 4 6 8 2013 2014 2015 2016E 2017/18 avg



$3 billion reduction BG Heartlands ~2.5 7 5 5.5 ~2.5

Royal Dutch Shell | June 7, 2016 28

Manage down-cycle

Lower & more predictable capital investment

$ billion; excludes BG acquisition in 2016

Capit ital in 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

20 40 60 2013 2014 2015 2016E 2017 - 20 avg Growth options/exploration Base + short cycle Committed growth projects BG $25-30 billion 58 47 36 29

• 35%

Royal Dutch Shell | June 7, 2016 29

Manage down-cycle

Reduce

• perating cost

$ billion

Operatin ing cost

20 40 60 2013 2014 2015 end-2016 run-rate $40 b $40 bil illion ion

• 20%

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

Shell BG 48 50 46 40

Royal Dutch Shell | June 7, 2016 30

Manage down-cycle

Pulling levers to manage financial framework

* $60 oil price scenario 2018

2016 2016-18 levers

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

Divestments Reduce capital investment Reduce

• perating

costs Deliver new projects

$ $ 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*

Ben van Beurden Chief Executive Officer Royal Dutch Shell plc

Royal Dutch Shell | June 7, 2016

Royal Dutch Shell | June 7, 2016

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.

32

Questions & Answers

Royal Dutch Shell | June 7, 2016

Royal Dutch Shell plc June 7, 2016

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

“Let’s make the future”

Royal Dutch Shell | June 7, 2016