Royal Dutch Shell reported strong second quarter 2011 results, with CCS earnings of $6.6 billion, a 52% increase compared to the second quarter of 2010. Oil and gas production volumes were 3.0 million boe/d, a 2% increase excluding disposals. Several major projects started up in the quarter, including Qatargas 4 and Pearl GTL Train 1. The company also launched over 400 kboe/d of new projects between 2010 and the first half of 2011 and continued progress on asset sales totaling $4.4 billion year-to-date.

1. ROYAL DUTCH SHELL PLC
SECOND QUARTER 2011 RESULTS
THE HAGUE
JULY 28, 2011
1 Copyright of Royal Dutch Shell plc 28/7/2011

2. ROYAL DUTCH SHELL PLC
SECOND QUARTER 2011 RESULTS
PETER VOSER
CHIEF EXECUTIVE OFFICER
2 Copyright of Royal Dutch Shell plc 28/7/2011

3. DEFINITIONS AND CAUTIONARY NOTE
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 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, 28 July 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.
We use certain terms in this presentation, such as discovery potential, 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.
3 Copyright of Royal Dutch Shell plc 28/7/2011

4. PERFORMANCE
STRATEGY PRIORITIES Q2 & H1 SUMMARY
• Q2 2011 CCS earnings $6.6 billion
• Growth performance
• Asset sales progress
• Started up three major projects:
Qatargas 4, Pearl GTL Train1, AOSP-1
• Innovation, full value chain, long-life returns
• New upstream investment for medium term growth
• Raízen joint venture
Competitive performance – Profitable growth – Sharper delivery
EARNINGS CCS BASIS EXCLUDING IDENTIFIED ITEMS
4 Copyright of Royal Dutch Shell plc 28/7/2011

5. PERFORMANCE FOCUS
CONTINUOUS IMPROVEMENT
EXAMPLE: TIGHT GAS WELLS MANUFACTURING JV
Cost focus
Continuous Operational
Simplification
improvement excellence
50/50 JV with CNPC
• Tight gas development requires „000‟s of wells
• Sourcing rigs, services and drilling equipment from
China
Capital • Integrated plan to drill and complete repeatable,
efficiency
low cost wells
5 Copyright of Royal Dutch Shell plc 28/7/2011

6. PERFORMANCE FOCUS
CAPITAL EFFICIENCY
ASSET SALES PROGRESS 2011 YTD DIVESTMENT PROCEEDS
$ BLN - CUMULATIVE
Harburg refinery
Wildcat Hills Stanlow
LPG business worldwide CORPORATE
/Woodenhouse
U.S. Car Care UPSTREAM
 South Texas GOM Assets DOWNSTREAM
 Pakistan 
Altamira Dominican
Republic  14 countries
Africa
 Cano Sur Nigeria
 Chile BM-S-8 Clyde
Divestment /exit announced
Upstream Deal Complete 
Downstream
Allocating capital to high impact growth
Exit from late-life + non-core positions
6 Copyright of Royal Dutch Shell plc 28/7/2011

7. DELIVERING NEW GROWTH
PROJECT START-UPS 2011
NEW START-UPS IN 2011
Qatargas 4
• Successful ramp-up of 7.8 mtpa project
• > 30 cargoes shipped to 11 countries
• Part of Shell‟s 20.5 mtpa world-wide LNG portfolio
Canada oil sands: AOSP-1 Upgrader
• Mine expansion on-stream Q3 2010; Upgrader Q2 2011
• Full ramp-up expected H2 2011
• Next steps: debottlenecking of 255,000 b/d project; Quest CCS
Qatar: Pearl GTL
• Train 1 ramping up; 6 of 12 GTL reactors on stream
• First shipments of GTL products June 2011
• Train 2 start-up by end 2011
>400,000 boe/d* for Shell
~ $30 bln capital investment
Innovative technology, full value chain, long-life returns
* PEAK PRODUCTION; SHELL SHARE: $80 OIL PRICE SCENARIO
7 Copyright of Royal Dutch Shell plc 28/7/2011

8. MATURING NEW OPTIONS
H1 2011 DELIVERY
AOSP DEBOTTLENECKING: 1st FID SCHIEHALLION REDEVELOPMENT FID Cardamom/Auger platform
• 10 kboe/d; Shell 60%; Shell operated • 145 kboe/d; Shell 36% Gulf of Mexico
NA Tight Gas UK RETAIL ACQUISITION
• Continued growth programmes • 254 sites; improved network
Raízen, Brazil
RAIZEN PRELUDE FLNG FID
• 50/50 Shell/Cosan JV • 110 kboe/d; Shell 100%; Shell operated Prelude, Australia
• Biofuels in Brazil; ~4500 retail stations • 3.6 mtpa LNG, 1.3 mtpa condensate,
• Shell 2nd generation biofuels technology 0.4 mtpa LPG
CARDAMOM FID SABAH GAS KBB FID
• 50 kboe/d; Shell 100%; Shell operated • 130 kboe/d; Shell 30%
• Production through Auger platform • Part of Kebabangan Cluster PSC
2010 – H1 2011 investment decisions > 400,000 boe/d* potential
* PEAK PRODUCTION; SHELL SHARE: $80 OIL PIRCE SCENARIO UPSTREAM DOWNSTREAM
8 Copyright of Royal Dutch Shell plc 28/7/2011

9. MATURING NEW PROJECTS
BRAZIL MARKETING AND BIOFUELS
Marketing JV
• ~4,500 retail sites; ~10% of Shell world-wide portfolio
• Rebranding and enhanced customer offering
• Synergies + growth potential
Retail Brazil
Biofuels JV
• Leading Brazil and Top 5 global ethanol player
• > 30 kbd ethanol production capacity
• > 80 kbd potential ~ 5 years
• Shell world-wide trading opportunities
• Next generation technologies
Raízen – Sugarcane harvesting
50-50 SHELL-COSAN
9 Copyright of Royal Dutch Shell plc 28/7/2011

10. ROYAL DUTCH SHELL PLC
SECOND QUARTER 2011 RESULTS
SIMON HENRY
CHIEF FINANCIAL OFFICER
10 Copyright of Royal Dutch Shell plc 28/7/2011

11. PRICES AND MARGINS
SHELL OIL & GAS REALISATIONS INDUSTRY REFINING MARGINS INDUSTRY CHEMICALS MARGINS
$/BARREL $/MSCF $/BARREL $/TONNE
US ETHANE
US WEST COAST ROTTERDAM COMPLEX
OIL GAS (RHS) WESTERN EUROPE NAPHTHA
US GULF COAST COKING SINGAPORE
NE/SE ASIA NAPHTHA
* Q211 SINGAPORE MARGIN IS ZERO • Q2 2011 CHEMICAL MARGINS: BASED ON AVAILABLE
PRICES/MARGINS AT THE END OF THE QUARTER
11 Copyright of Royal Dutch Shell plc 28/7/2011

12. Q2 2011 FINANCIAL HIGHLIGHTS
CCS EARNINGS ($ BILLION) Q2 2010 TO Q2 2011
$ BILLION
Q2 11 Q210
UPSTREAM 5.4 3.3
DOWNSTREAM (CCS) 1.1 1.2
BUSINESS SEGMENTS TOTAL 6.5 4.4
CORPORATE & MINORITIES 0.1 (0.2)
CCS NET EARNINGS 6.6 4.2
CCS EARNINGS, $ PER SHARE 1.05 0.69
CASH FROM OPERATIONS 10.0 8.1
DIVIDENDS 2.6 2.4
DIVIDEND, $ PER SHARE 0.42 0.42
EARNINGS CCS BASIS, EARNINGS AND EPS EXCLUDING IDENTIFIED ITEMS
12 Copyright of Royal Dutch Shell plc 28/7/2011

13. UPSTREAM PERFORMANCE
EARNINGS OIL & GAS PRODUCTION
$ BILLION MILLION BOE/D
CONTROLLABLE
OTHER UPSTREAM INTEGRATED GAS
EXCLUDING IDENTIFIED ITEMS
13 Copyright of Royal Dutch Shell plc 28/7/2011

14. DOWNSTREAM PERFORMANCE
CCS EARNINGS AVAILABILITY AND SALES VOLUMES
$ BILLION % AVAILABILITY VOLUME
OIL PRODUCTS REFINERY AVAILABILITY OIL PRODUCT SALES (MLN BBLS/D)
CHEMICALS CHEMICALS AVAILABILITY CHEMICALS SALES (MLN TONNES)
EXCLUDING IDENTIFIED ITEMS
14 Copyright of Royal Dutch Shell plc 28/7/2011

15. CASH PERFORMANCE 12 MONTHS
BUSINESSES GROUP
$ BILLION $ BILLION
UPSTREAM DOWNSTREAM SOURCES USES
SOURCES
USES
SOURCES
USES
CASH FLOW FROM OPERATIONS EXCL. NET ACQUISITIONS
MOVEMENTS IN WORKING CAPITAL CAPEX (EXCL. ACQUISITIONS) + EQUITY ACC. INVESTMENTS
ASSET SALES PAY-OUT
15 Copyright of Royal Dutch Shell plc 28/7/2011

16. INVESTMENT AND BALANCE SHEET
BALANCE SHEET CAPITAL INVESTMENT
Gearing %
$ Bln 2009 2010 H1 2011 2011
Gearing range Target
Organic investment 31 24 10 ~28
Acquisitions 1 7 2 ~2.5
Disposals (3) (7) (4) ~(5)
Net Capital
29 24 8 ~25-27
Investment
Sustained growth investment
$25 - $27 bln net capex 2011 – 2014
Prudent balance sheet management
16 Copyright of Royal Dutch Shell plc 28/7/2011

17. ROYAL DUTCH SHELL PLC
SECOND QUARTER 2011 RESULTS
PETER VOSER
CHIEF EXECUTIVE OFFICER
17 Copyright of Royal Dutch Shell plc 28/7/2011

18. SUMMARY
• Q2 2011 CCS earnings $6.6 bln (EPS +52% Q2-Q2)
• Oil and gas volumes 3.0 mln boe/d; + 2% Q2-Q2
excluding disposals
• $4.4 billion asset sales year-to-date
• Start-ups: Qatargas 4, Pearl GTL Train 1, AOSP-1
• > 400 kboe/d*; $30 bln investment
• Innovation, full value chain, long-life returns
• > 400 kboe/d* new projects launched 2010-H1 2011
• Raízen joint venture
EARNINGS CCS BASIS EXCLUDING IDENTIFIED ITEMS
* PEAK PRODUCTION; SHELL SHARE: $80 OIL PRICE SCENARIO
18 Copyright of Royal Dutch Shell plc 28/7/2011

19. ROYAL DUTCH SHELL PLC
SECOND QUARTER 2011 RESULTS
Q&A
19 Copyright of Royal Dutch Shell plc 28/7/2011

20. ROYAL DUTCH SHELL PLC
SECOND QUARTER 2011 RESULTS
THE HAGUE
JULY 28th, 2011
20 Copyright of Royal Dutch Shell plc 28/7/2011