This document summarizes Royal Dutch Shell's presentation at the UBS Global Oil & Gas Conference on May 24, 2011. It discusses Shell's strategy to invest in growing its natural gas and integrated gas businesses. Specifically, it highlights several new natural gas and liquefied natural gas projects around the world, including in Qatar, Australia, Brazil, and Malaysia. It also discusses Shell's focus on growing its onshore gas business in North America through positions in plays like the Marcellus Shale, Eagle Ford, and Haynesville Shale.

1. ROYAL DUTCH SHELL PLC
RUSS FORD
EVP – ONSHORE GAS
UPSTREAM AMERICAS
UBS Global Oil & Gas Conference
Austin, Texas
May 24, 2011
1 Copyright of Royal Dutch Shell plc 24/05/2011

2. DEFINITIONS AND CAUTIONARY NOTE
Reserves: Our use of the term “reserves” in this presentation means SEC proved oil and gas reserves for all 2009 and 2010 data, and includes both SEC proved oil and gas reserves and SEC proven
mining reserves for 2008 data.
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.
Organic: Our use of the term Organic includes SEC proved oil and gas reserves and SEC proven mining reserves (for 2008) excluding changes resulting from acquisitions, divestments and year-
average pricing impact.
To facilitate a better understanding of underlying business performance, the financial results are also presented on an estimated current cost of supplies (CCS) basis as applied for the Oil Products and
Chemicals segment earnings. Earnings on an estimated current cost of supplies basis provides useful information concerning the effect of changes in the cost of supplies on Royal Dutch Shell‟s results
of operations and is a measure to manage the performance of the Oil Products and Chemicals segments but is not a measure of financial performance under IFRS.
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 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 the Shell‟s products; (c) currency fluctuations; (d) drilling and production
results; (e) reserve 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, 24 May 2011. 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.
The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual
production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this presentation, such as resources and
oil in place, that SEC's 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.
2 Copyright of Royal Dutch Shell plc 24/05/2011

3. ENERGY OUTLOOK
GLOBAL ENERGY MIX
Mln Boe/d
Industry outlook
400  Hydrocarbons dominate outlook
 Growth required in all sectors of energy mix
300  Energy policy + sustained investment
200 Shell
 Crude oil & oil products
100  Natural gas & LNG
 Biofuels, wind, carbon capture + storage
0
1980 1990 2000 2010 2020 2030 2050
 Petrochemicals
OIL BIOMASS COAL
GAS WIND NUCLEAR
SOLAR
SHELL ACTIVITIES
OTHER RENEWABLES
SHELL ESTIMATES
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4. NATURAL GAS OUTLOOK
NATURAL GAS DEMAND SHELL GAS CAPABILITIES
BCM
3,000
2,500
2,000
1990 2000 2010E
SOURCE: IEA Inaugural cargo QatarGas 4 arriving at Hazira terminal
NATURAL GAS ADVANTAGE: EXAMPLE CCGT ATTRACTIVE ECONOMICS FOR ELECTRICITY PRODUCERS
$/MW hour
GALLINA LNG SHIP - SINGAPORE
 Abundant, Affordable, Acceptable
Solar Thermal
 Global gas resources ~250 years reserves at
Wind
current production
Nuclear
 CCGT: gas-fired power compared to coal:
Coal
• 40% more energy efficient
CCGT
• 50-70% less CO2
0 50 100 150 200
• Better complements with wind power CAPITAL COST LONG-RUN MARGINAL COST
CCGT: COMBINED CYCLE GAS TURBINE SOURCE: SHELL ANALYSIS BASED ON EU DATA
4 Copyright of Royal Dutch Shell plc 24/05/2011

5. STRATEGY & CAPITAL ALLOCATION
STRATEGY CAPITAL INVESTMENT
$ Bln
Upstream
150
 Profitable growth; price upside
 >80% of total capital spending 100% SOUR
HEAVY OIL & EOR
 Sustained exploration investment TIGHT GAS
100 EXPLORATION
Downstream DEEPWATER
UP-
 Stable capital employed STREAM 50%
TRADITIONAL
 Fewer refineries; upgrade chemicals assets 50
 More concentrated marketing positions
INTEGRATED GAS
CHEMICALS
DOWN- REFINING
Down-
stream
STREAM MARKETING
Financial outlook 0 0%
2007-10 2011-14 2007-10 2011-14
 Generating surplus cashflow through cycle
 Investing for growth; competitive payout
 Substantial cashflow growth
GROWTH INVESTMENT – THROUGH CYCLE RETURNS
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6. ROYAL DUTCH SHELL
PROJECT UPDATE
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7. GROWTH DELIVERY
INTEGRATED GAS
PEARL GTL (QATAR) QATARGAS 4 (QATAR) GORGON (AUSTRALIA)
Pearl GtL plant under construction Inaugural Qatargas 4 cargo arriving at Shell Barrow Island
Hazira Regasification Terminal
 Commissioning underway; ~12  7.8 mtpa LNG + 70 kboe/d  3 LNG trains; 15 mtpa
months start-up condensates
 Carbon capture & storage
 1.6 bcf/d wet gas:  First gas into plant – Jan 2011
 Exploration upside
• 120 kboe/d NGL/ethane  First LNG export – Feb 2011
 Shell 25%
• 140 kboe/d GTL  At capacity – Apr 2011
 100% Shell in partnership with QP  Shell 30%
Part of Shell’s new integrated gas potential of ~500 kboe/d 2015
7 Copyright of Royal Dutch Shell plc 24/05/2011

8. GROWTH DELIVERY
DEEPWATER
MARS-B (GULF OF MEXICO) BC-10 PHASE 2 (CAMPOS, BRAZIL) GUMUSUT-KAKAP (MALAYSIA)
Development concept Phase 1 FPSO Construction yard at Johor Bahru
 TLP capacity ~100 kboe/d  Peak production ~30 kboe/d  Peak production ~135 kboe/d
 New resources at Mars field  Argonauta O-North field  Semi submersible Floating
 West Boreas + South Deimos  Tie-back to Phase 1 FPSO Platform System
 Water depth 950 meters  Water depth 1,600 meters  Water depth 1,200 meters
 Shell 72% (operator)  Shell 50% (operator)  Shell 33% (operator)
Part of Shell’s new deepwater potential of ~200 kboe/d 2015
8 Copyright of Royal Dutch Shell plc 24/05/2011

9. GROWTH DELIVERY
HEAVY OIL & EOR
AOSP-1 (CANADA) SCHOONEBEEK (NETHERLANDS) PDO (OMAN)
AOSP Jackpine mine Schoonebeek EOR development Qarn Alam steam development
 AOSP Exp. mine & upgrader  Started up Jan 2011  Qarn Alam steam injection
onstream ~100 kboe/d  Steam injection for 20 kboe/d  Harweel miscible gas flood
 255 kboe/d capacity built in  ~120 mln bbls potential over  Amal Steam
~10 years 25 years  Increased recovery factors:
 Next focus: optimization +  Shell 30% (operator) <10% to >30%
debottlenecking
 ~90 kboe/d 100% peak
 Shell 60% (operator) production potential
 Shell 34%
New heavy oil potential of ~90 kboe/d 2013-14
9 Copyright of Royal Dutch Shell plc 24/05/2011

10. ROYAL DUTCH SHELL
NA ONSHORE GAS FOCUS
10 Copyright of Royal Dutch Shell plc 24/05/2011

11. GROWTH OPPORTUNITY
SHELL GLOBAL GAS OPPORTUNITY
Deep Basin Germany Ukraine
Groundbirch
Foothills
Marcellus Changbei North Shilou
Pinedale
Jinqui
Eagle Ford Haynesville Fushun (JAA) study
GLOBAL GAS RESOURCES
Sao Francisco
CBM
Shale ~12,000
Conv
South Africa (JAA) Study Arrow - CBM
TCF entio
nal Key Shell positions
Tight
TIGHT GAS GRAND ANIVA
SHALE GAS
CBM
11 Copyright of Royal Dutch Shell plc 24/05/2011

12. GROWTH OPPORTUNITY
HISTORY OF SHELL IN NORTH AMERICA GAS
Panther Well
1951 - Foothills
2001 - Pinedale
Groundbirch Deep Basin
Foothills
Pinedale Marcellus
Eagle Ford Haynesville
2004 - Deep Basin
2007 – Haynesville
2010 – Marcellus/Eagle 2008 - Groundbirch
Ford
Acres
(thousands)
0 1,000 2,000
Foothills Pinedale Deep Basin Haynesville Groundbirch Marcellus Eagle Ford
~40 tcfe of resource potential
Acreage positions in low marginal cost plays
12 Copyright of Royal Dutch Shell plc 24/05/2011

13. COMPETITIVE PERFORMANCE
COMPETITVE POSITIONING
COMPETITIVE LIFTING COSTS
Lifting costs $/mcfe  Built significant, contiguous positions in resource
2
Other Direct Operating Cost plays across North America
 Acreage growth (+ 1.3 million net acres in 2010)
1  Resource growth: East Resources Inc. + Eagle Ford
acquisition 2010
0  High value positions: exploration running room,
Petrohawk Ultra Shell EnCana EOG XTO Chesapeake Talisman
low break even prices
SOURCE: 2009 PUBLIC REGULATORY PUBLICATIONS
LEARNING CURVE ACCELERATION SHELL ASSET BREAK EVEN PRICE
Indexed Well Delivery Time per year since first production $/mcfe – End 2010
120
8
100
6
80
4
60
2
40
Pinedale - 2002 Early Deep Basin - 2006 0
20 Deep Basin - 2008 Haynesville - 2008 Mature plays Emerging plays Total
Groundbirch - 2008
0
0 1 2 3 4 5 6 7 8 9 BREAKEVEN PRICE ENTRY COST
Years
13 Copyright of Royal Dutch Shell plc 24/05/2011

14. COMPETITIVE PERFORMANCE
HAYNESVILLE
COMPETITIVE DRILLING COSTS
Haynesville drilling environment
 Production up by 40% since 2010
 Q1 2011 production ~300 mmcfe/d*
 93% acreage retention by year end
 Strong cashflow
DRILLING COST REDUCTIONS
Well Drilling Cost
 Drilling costs lowered by ~50% ($millions)
 Underbalanced and Hard Rock Drilling 12 Magnolia Drilling Performance
Improvement
 Pad drilling (2011)
 Drill days reduced from 98 days to 35 days
6
 Completion costs lowered by ~30%:
 Consistent HF design yields
improved efficiency
0
MULTIPLE WELLS FROM SINGLE ~50%
 Cycle time reduced PAD 2008 2009 2010 Q1 2011
* Shell Share production
14 Copyright of Royal Dutch Shell plc 24/05/2011

15. COMPETITIVE PERFORMANCE
MARCELLUS
SHELL APPALACHIA – DRILLING RIG
Appalachia drilling environment
 Purchased in mid-2010
 650,000 contiguous acres
 10 Shell rigs
 Several wells drilling in <10 days
 Q1 2011 production ~50 mmcfe/d
TYPICAL WELL SCHEMATIC
 Advantages
 Contiguous acreage
 Liquids potential in SW Pennsylvania
 Market proximity
 Challenges
 Regulatory Environment
 Gas Infrastructure
15 Copyright of Royal Dutch Shell plc 24/05/2011

16. GROWTH DELIVERY
NORTH AMERICAN GAS GROWTH POTENTIAL
~2015 PRODUCTION SCENARIOS INVESTMENT FLEXIBILITY
Bcf/d 2011 investment: ~$3 billion; >400 wells
4
Deep Basin
Foothills Canada
3
Groundbirch
2 Pinedale
Haynesville
1 Marcellus USA
Eagle Ford
0
~$15 Bln ~$20 Bln ~$25 Bln
2011-2015 Investment
PRODUCTION GROWTH
 Flexibility in capital allocation Kboe/d
Mmscf/d
2,000
 Gas price, Affordability, Lease expiry
300
 Creates a range of production growth 1,500
outcomes 200
1,000
 Budget for a rolling 6-12 month program
 Operational continuity 100 500
 Performance vs. Plan
0 0
2006 2007 2008 2009 2010 2011 2012
16 Copyright of Royal Dutch Shell plc 24/05/2011

17. SUSTAINABLE GROWTH
PAD DRILLING: REDUCING SURFACE FOOTPRINT
PINEDALE: SHELL OPERATED JONAH: NON-OPERATED
Up to 4 pads each pad having up to 32 wells Up to 64 pads with each pad having a single well
SQUARE MILE OVERVIEW SQUARE MILE OVERVIEW
Adjacent gas fields, different development impacts
Shell setting new standards for surface footprint reduction
17 Copyright of Royal Dutch Shell plc 24/05/2011

18. SUMMARY
Robust Portfolio
Competitive Performance
Strong Cash Generation
18 Copyright of Royal Dutch Shell plc 24/05/2011

19. ROYAL DUTCH SHELL
Q&A
19 Copyright of Royal Dutch Shell plc 24/05/2011