Evandro Gueiros presented to Shell’s Socially Responsible Shareholders visiting Cosan’s operations in Brazil.

1. ROYAL DUTCH SHELL PLC
PROPOSED SHELL – COSAN JV
BRAZIL
NOVEMBER 2010
1 Copyright of Royal Dutch Shell plc 9/11/2010

2. ROYAL DUTCH SHELL PLC
PROPOSED SHELL – COSAN JV
EVANDRO GUEIROS
Cautionary note: The proposed JV between Shell and Cosan is still dependant on certain regulatory approvals. As such, all material presented here by Mr.Gueiros is in his capacity as a
designate member of the future leadership team. Currently he is a Shell employee and a member of the project transition team which is in place to prepare the future organization. No members
of this team have been involved directly or indirectly in the management of any of Cosan’s businesses. Any questions relating to what the proposed JV might or might not do should only be
2addressed after of Royal Dutch merger control9/11/2010from the relevant competition authorities have been obtained.
Copyright
all suspensory
Shell plc
approvals

3. DEFINITIONS AND CAUTIONARY NOTE
The proposed JV between Shell and Cosan is still dependant on certain regulatory approvals. As such, all material presented here by Mr.Gueiros is in his capacity as a designate member of the future leadership team. Currently
he is a Shell employee and a member of the project transition team which is in place to prepare the future organization. No members of this team have been involved directly or indirectly in the management of any of Cosan’s
businesses. Any questions relating to what the proposed JV might or might not do should only be addressed after all suspensory merger control approvals from the relevant competition authorities have been obtained.
Reserves: Our use of the term “reserves” in this presentation means SEC proved oil and gas reserves for all 2009 data, and includes both SEC proved oil and gas reserves and SEC proven mining reserves for 2007 and 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 2007 and 2008) excluding changes resulting from acquisitions, divestments and year-end 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 34% 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, 2009 (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, 9 November 2010. 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.
3 Copyright of Royal Dutch Shell plc 9/11/2010

4. AGENDA
PRESENTATION: INTRODUCTION SHELL & COSAN
Q&A
DEMONSTRATION
BIOLOGICAL PEST CONTROL
GEO-MONITORING SATELLITE TECHNOLOGY
SITE VISIT
AGRICULTURAL SITE
INDUSTRIAL SITE
4 Copyright of Royal Dutch Shell plc 9/11/2010

5. SHELL IN BRAZIL
In Brazil since 1913
~2,200 staff
Largest private exploration & production company
producing in the country
Upstream offshore and onshore
Downstream fuels and lubricants
UPSTREAM GROWTH: BC-10 ON STREAM 2009 DOWNSTREAM: FUELS & LUBRICANTS
5 Copyright of Royal Dutch Shell plc 9/11/2010

6. SHELL AND BIOFUELS
SHELL PORTFOLIO COMMITTED TO SUSTAINABILITY
SHELL GLOBAL BIOCOMPONENT SHELL’S BIOCOMPONENT
FEEDSTOCK PURCHASE Q4 2009 PURCHASES COVERED BY
SUSTAINABILITY CLAUSES
IOGEN
CODEXIS
VIRENT
CELLANA
Corn Wheat Fully signed up
First Gen Technology Next Gen Next Gen
Distribution Partnership Manufacture Feedstock Sugar Cane Other Partially signed up
Rape Seed and yet to sign up
World's largest biofuels distributor: 9 billion liters
in 2009
Sustainable sourcing of 1st generation biofuels
Leading technology and next generation portfolio
Global research capabilities
$12 bln proposed JV with Cosan
6 Copyright of Royal Dutch Shell plc 9/11/2010

7. INTRODUCING COSAN
COSAN INSTITUTIONAL VIDEO
CLICK HERE TO WATCH
7 Copyright of Royal Dutch Shell plc 9/11/2010

8. PROPOSED SHELL-COSAN JV STRUCTURE
50% Management 50%
Company
JV’s face to the market
Facilitate the building of a
unified corporate culture
Sugar, Ethanol,
Cogeneration & Downstream Co
Biotechnology Co
Production of sugar and ethanol Supply, distribution and sale of fuels in Brazil.
Co-generation activities Network of about 4,500 fuel stations throughout
Brazil - third largest fuels retailer in the country as of
Technology activities: Iogen & Codexis 2009, with strong potential for future growth
8 Copyright of Royal Dutch Shell plc 9/11/2010

9. ASSETS CONTRIBUTED TO THE PROPOSED JV
SHELL COSAN
Brazilian downstream assets including: Sugar cane crushing capacity: currently ~60 million
~2,740 branded retail sites tonnes per annum from 23 mills
Supply and distribution assets Ethanol production capacity: currently ~2 billion
litres per annum
Aviation fuel business
All Co-generation plants
Next generation biofuels:
Brazilian downstream assets including:
Commercialization rights Iogen Energy
~1,730 retail sites
16.4% share interest in Codexis
Supply and distribution assets
~ US$1.6 billion in cash, paid over two years
Ethanol logistics assets
Net debt of ~US$2.5billion
Additional debt of R$500 million from BNDES
9 Copyright of Royal Dutch Shell plc 9/11/2010

10. PROPOSED JV: MAJOR FUELS DISTRIBUTOR IN BRAZIL
SHARE OF BRAZILIAN RETAIL FUELS DISTRIBUTION
36.1 %
4,470 retail sites, 53 depots
Fuel sales volume ~18 billion litres per year or
~24% share of total Brazil downstream fuels:
21.3 % 20.6 %
18.2 % ~18% share of Brazil retail fuels
5.4 %
~16% share of the Brazil commercial fuels
12.8 % 3.8 % ~37 % share of aviation fuels
LEADING IN OPERATIONAL EFFICIENCY
Petrobras1 Ultra 1,2 Joint Venture AleSat 3 Others
MONTHLY VOLUME PER RETAIL SITE (THOUSAND LITERS, 2008)
285
NUMBER OF RETAIL SITES
18,429
238
227
221
185
7,121
5,415 169
4,470
1,730 1,520
2,740
Petrobras1 Ultra 1,2 Joint Venture AleSat 3 Others Shell Cosan BR Chevron Ipiranga Industry
Source: data provided by Cosan sourced from Sindicom 2008 and ANP (1) Pro forma for Petrobras and Ultra’s stake in Ipiranga
(2) Pro forma for Texaco’s acquisition by Ultra
10 Copyright of Royal Dutch Shell plc 9/11/2010 (3) Pro forma for AleSat’s acquisition of Repsol’s downstream assets

11. COSAN: ETHANOL & SUGAR
GLOBAL ETHANOL PRODUCERS BRAZILIAN SUGARCANE PRODUCERS
PRODUCTION BLN LITRES PER YEAR (ESTIMATE 2010/2011) 80
MLN TONNES (ESTIMATE 2010/2011)
6
60
5
40
4 20
0
3
Sugarcane crushing capacity:
2
~60 mtpa from 23 mills
market leader in Brazil; market share ~10%
1
~ 2 bln litres ethanol production capacity per year,
growth aspiration to 4 bln litres per year
0
Sugar production > 3 mtpa
Cogeneration installed capacity 625 MW, excess
electricity for sale this year: 1,200-1,500 GWh
Source: data provided by Cosan, sourced from Czarnikow Group
11 Copyright of Royal Dutch Shell plc 9/11/2010

12. SOCIAL
REGULATION COSAN INDICATORS
Labour conditions strictly regulated via the 41,000 employees (during peak of harvest) of
Labour Law Consolidation which 36,000 operational, of which
27,000 agri-workers
Cosan contributed to and is signatory to additional
commitments: Cosan uses own labour on owned and leased
lands, initiates harvest on third party land
National Commitment for the Improvement of
Labor Conditions in Sugarcane Production Manual harvesters: workday 7hrs 20mins,
wages ~60% above minimum wage
Agro-Environmental Protocol for the Sugar
and Ethanol Sector (Green Protocol) Training :~25 hours per employee per year
Better Sugarcane Initiative (BSI) standards Mechanization: Cosan accelerated & reached
64% in areas with slope <12%
Safety: 84% reduction in accidents Ethanol &
Sugar division versus last year
Social investment in communities:
Cosan Foundation: educating ~ 600
children
Other social initiatives reaching ~70,000
people
COSAN FOUNDATION
Data provided by Cosan
12 Copyright of Royal Dutch Shell plc 9/11/2010

13. ENVIRONMENT
COSAN: REDUCING IMPACTS, DELIVERING BENEFTIS
Brazilian sugar cane ethanol best performing biofuel:
European Renewable Energy Directive assigns sugar cane
ethanol with a 71% GHG savings, compared to gasoline
U.S. EPA designated Brazilian sugarcane ethanol as an
advanced biofuel due to its 61% reduction of total life cycle GHG
emissions
Cogeneration of electricity from by-product bagasse:
reducing emissions & generating revenues from electricity sales
625 MW installed capacity, with excess electricity for sale this
year between 1,200 to 1,500 GWh
Recycling of by-products: vinasse, filter cake and ash used as natural
potassium-rich fertilizer
Accelerated mechanization reduces emissions & water use
Closed water circuits in 19 of 23 units
Cosan pioneered biological pest control
Satellite geo-monitoring - a unique competitive advantage
Data provided by Cosan
13 Copyright of Royal Dutch Shell plc 9/11/2010

14. ENVIRONMENT
LAND USE
Cosan’ uses ~700 thousand hectares representing SUGARCANE PRODUCING AREAS IN BRAZIL
~0.1% of Brazil’s total area or ~0.2% of its arable
land
Brazilian sugar cane for ethanol uses less than ~0.6%
of Brazil’s total area and less than ~1.5% of its arable
land
In Brazil, land availability and opportunities for
productivity increases in cattle raising significantly
mitigate indirect land use change
Government regulation:
Forest Code currently under review; Legal
Reserves of 20% of land to include Permanent
Protected Areas
Agro Ecological Protocol defines lands suitable
for sugarcane production based on agro-
climatic, environmental and social criteria
Proposed JV agreement includes requirement for
impact assessment (including indirect impacts) for
greenfield expansions
14 Copyright of Royal Dutch Shell plc 9/11/2010

15. SHELL SUSTAINABILITY DUE DILIGENCE
OBJECTIVES OUTCOME
Review capabillities Robust sustainability principles, standards and
Assess compliance operating procedures embedded in proposed JV
agreement
Benchmark performance with international best
practice, particularly Better Sugarcane Initiative Detailed action plan agreed to underpin above
and address areas of improvement.
Develop action plan for proposed JV
Targets agreed to ensure all mills/volumes achieve
Better Sugar Cane Initiative (BSI) Certification
according to its five key principles:
obey the law
DUE DILIGENCE INCLUDED
respect human rights and labour standards
23 MILL SITES AND manage input, production and processing
ASSOCIATED PLANTATIONS
efficiencies to enhance sustainability
actively manage biodiversity and ecosystem
services
continuously improve key areas
Management sustainability appointed and part of
leadership team
15
15 Copyright of Royal Dutch Shell plc
Copyright of Royal Dutch Shell plc 9/11/2010
9/11/2010

16. SUMMARY
Proposed Shell – Cosan Joint Venture:
a leader in sugar cane ethanol & sugar
with growth aspirations
a major fuels position in the Brazilian
growth market
Brazilian sugar cane ethanol widely recognized
as one of the most sustainable & commercially
viable types of biofuels
Proposed JV committed to progress sustainability
with robust principles, standards and operating
procedures agreed
16
16 Copyright of Royal Dutch Shell plc
Copyright of Royal Dutch Shell plc 9/11/2010
9/11/2010

17. ROYAL DUTCH SHELL PLC
PROPOSED SHELL – COSAN JV
Q&A
17 Copyright of Royal Dutch Shell plc 9/11/2010

18. ROYAL DUTCH SHELL PLC
PROPOSED SHELL – COSAN JV
BRAZIL
NOVEMBER 2010
18 Copyright of Royal Dutch Shell plc 9/11/2010