FIVE-YEAR FACT BOOK Royal Dutch Shell plc FINaNcIal and operational INFoRMatIoN

Transcription

1 FIVE-YEAR FACT BOOK Royal Dutch Shell plc FINANCIAL AND OPERATIONAL INFORMATION

2 ABBREVIATIONS Currencies euro pound sterling $ US dollar We help meet the world s growing demand for energy in economically, environmentally and socially responsible ways. Units of measurement acre approximately 0.4 hectares or 4 square kilometres b(/d) barrels (per day) bcf/d billion cubic feet per day boe(/d) barrel of oil equivalent (per day); natural gas has been converted to oil equivalent using a factor of 5,800 scf per barrel dwt deadweight tonnes kboe/d thousand barrels of oil equivalent per day km kilometres km 2 square kilometres m metres MM million MMBtu million British thermal unit mtpa million tonnes per annum mscm million standard cubic metres MW megawatts per day volumes are converted to a daily basis using a calendar year scf standard cubic feet tcf trillion cubic feet tcfe trillion cubic feet equivalent tpa tonnes per annum About this report This five-year fact book enables the reader to see our financial and operational performance over varying timescales from 2005 to 2009, with every year in between. Wherever possible, the facts and figures have been made comparable. The information in this publication is best understood in combination with the narrative contained in our Annual Report and Form 20-F Information from this and our other reports is available for online reading and downloading at: The webpages contain interactive chart generators, downloadable tables in Excel format, hyperlinks to other webpages and an enhanced search tool. Sections of the reports can also be downloaded separately or combined into a custom-made PDF file. Products GTL LNG LPG MEG NGL gas to liquids liquefied natural gas liquefied petroleum gas monoethylene glycol natural gas liquids Miscellaneous ADR AGM CCS CFFO CO 2 EAI EOR FEED FID FLNG NGO OECD OMEGA OML OPEC OPL PSA PSC R&D SEC SUBS WTI American Depositary Receipt Annual General Meeting current cost of supply cash flow from operations carbon dioxide Shell share of equity-accounted investments enhanced oil recovery front end engineering and design final investment decision floating liquefied natural gas non-governmental organisation Organisation for Economic Co-operation and Development Only Mono-Ethylene Glycol Advanced onshore oil mining lease Organisation of the Petroleum Exporting Countries oil prospecting licence production-sharing agreement production-sharing contract research and development United States Securities and Exchange Commission Shell subsidiaries West Texas Intermediate Key to symbols related information online, such as on or address telephone number fax number postal address

3 Shell Financial and Operational Information Table of contents Review of the year 2 Our businesses 3 Transition Strategy 6 Market overview 7 results Key development projects Upstream 11 Highlights 12 Exploration 14 Options for future growth 16 LNG 17 production 18 PROVED Reserves 19 Europe 23 Africa 26 Asia (including middle east and Russia) 33 Australia/Oceania 35 Americas Downstream 41 Highlights 42 Refining 43 Supply and Distribution 43 Business to business (B2B) 44 Retail 45 Lubricants 46 Chemicals 47 Trading Alternative Energy 48 Wind 49 Biofuels Consolidated data 53 Our locations 54 Consolidated statement of income 54 Earnings per share 55 Consolidated balance sheet 56 Consolidated statement of Cash flows 57 Additional segmental information 57 Fixed assets 58 QUARTERLY EARNINGS 58 Quarterly Identified items 59 TAXATION 60 Capital employed 60 Capital investment 60 DEPRECIATION, DEPLETION AND AMORTISATION 61 FINANCIAL RATIOS 61 Employees Upstream data 62 PROVED oil and gas Reserves 65 Oil, Gas, synthetic crude Oil and bitumen Production 68 acreage and wells 70 UPSTREAM EARNINGS 72 Oil and gas exploration and production activities earnings 74 oil sands 75 LNG and GTl Downstream data 76 Oil Products and refining locations 78 Oil sales and Retail sites 79 Revenue and shipping 80 Chemicals and Manufacturing locations Projects & Technology 50 Focusing on Technology 51 organisation innovation and R&D 52 Project execution 52 Contracting & procurement (C&P) Supplementary information 82 Share information 83 Dividends 83 Financial calendar 85 Contact information

4 2 Shell Financial and Operational Information Review of the year OUR Businesses a c d E b M J K F M H l G I N chemical products used for Plastics Coatings Detergents refined oil gas and electricity Industrial use Domestic use products (Bio) Fuels Lubricants Bitumen Liquefied petroleum gas UPSTREAM Exploring for oil and gas a Developing fields b Producing oil and gas c Mining oil sands d Extracting bitumen E Liquefying gas by cooling (LNG) F Regasifying LNG G Converting gas to liquid products (GTL) H Generating wind energy I DOWNSTREAM Refining oil into fuels and lubricants J Producing petrochemicals K Developing biofuels l Trading M Retail sales N Managing CO 2 emissions Supply and distribution Business-to-business sales

5 Shell Financial and Operational Information Review of the year 3 Review of the year Transition 2009 ORGANISATION On July 1, 2009, Peter Voser succeeded Jeroen van der Veer as Chief Executive Officer (CEO). On the same date, a series of changes in the organisation and responsibilities of senior management became effective. The changes were part of the reorganisation programme, called Transition The aim of the programme was to enhance accountability for operating performance and technology development within Shell s organisation, thereby quickening decision-making and execution as well as reducing costs. BUSINESSES Upstream International manages the upstream businesses outside the Americas. It searches for and recovers crude oil and natural gas, liquefies and transports gas and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream International also manages the global LNG business, GTL and the wind business in Europe. The activities are organised within geographical units, some business-wide units and supporting units. Upstream Americas manages the upstream businesses in North and South America. It searches for and recovers crude oil and natural gas, liquefies and transports gas and operates the upstream and midstream infrastructure necessary to deliver oil and gas to market. Upstream Americas also extracts bitumen from oil sands that is converted into synthetic crude oil. Additionally, it manages the US-based wind business. It is organised into businesswide units and supporting units. Downstream manages Shell s manufacturing, distribution and marketing activities for oil products and chemicals. These activities are organised into globally managed classes of business, including chemicals, some regionally and globally managed activities and supporting activities. Manufacturing and supply includes refining, supply and shipping of crude oil. Marketing sells a range of products including fuels, lubricants, bitumen and liquefied petroleum gas (LPG) for home, transport and industrial use. Chemicals produces and markets petrochemicals for industrial customers, including the raw materials for plastics, coatings and detergents used in the manufacture of textiles, medical supplies and computers. Downstream also trades Shell s hydrocarbons and other energyrelated products, supplies the Downstream businesses, markets gas and power and provides shipping services. In addition, Downstream oversees Shell s interests in alternative energy (excluding wind) and manages its CO 2 emissions. Projects & Technology manages the delivery of Shell s major projects and drives the research and innovation to create technology solutions. It provides technical services and technology capability covering both Upstream and Downstream activities. It is also responsible for providing functional leadership across Shell in the areas of safety and environment, as well as contracting and procurement. Changes in the organisation as per july 1, 2009 PREVIOUS STRUCTURE NEW TOP LEVEL STRUCTURE EXPLORATION & PRODUCTION GAS & POWER OIL SANDS UPSTREAM INTERNATIONAL UPSTREAM AMERICAS OIL PRODUCTS DOWNSTREAM CHEMICALS PROJECTS & TECHNOLOGY

6 4 Shell Financial and Operational Information Review of the year Strategy highlights Upstream Profitable growth; oil and gas price upside ~80% of total capital spending Sustained exploration investment Downstream Stable capital employed Fewer refineries; upgraded chemicals assets More concentrated marketing portfolio Financial outlook generation of surplus cash flow through cycle Investment for growth Competitive pay-out Our strategy seeks to reinforce our position as a leader in the global oil and gas industry in order to generate competitive shareholder returns and help meet global energy demand in a responsible way. In Upstream, where we expect some 80% of capital spending, we focus on exploration for new oil and gas resources, and developing growth projects using Shell s technology and management experience. In Downstream, which will account for some 20% of capital spending, we expect relatively steady capital employed, with selective growth investments. We have defined three distinct layers for Shell s strategy development: near-term performance focus; medium-term growth delivery; and maturation of next-generation project options. STRATEGY TIMELINE REJUVENATING PORTFOLIO: UPSTREAM AND DOWNSTREAM PERFORMANCE FOCUS MATURING NEXT-GENERATION PROJECT OPTIONS NEW WAVE OF PRODUCTION GROWTH FINANCIAL FRAMEWORK PAY-OUT Dividend linked to business results Scrip dividend option >$10 billion expected in 2010 CASH PERFORMANCE ~50-80% CFFO increase $60-80/b oil-price scenarios Surplus cash flow 2012 at $60/b BALANCE SHEET 0-30% gearing through cycle Balance sheet underpins investment Capital employment grows steadily PERFORMANCE FOCUS We will work on continuous improvements in operational excellence, with an emphasis on safety, asset performance and operating costs. We have firm plans in place for $1 billion of cost savings in 2010, and staff reduction of some 2,000 positions by the end of We expect asset sales of up to $3 billion per year as Shell exits from non-core positions across the company. There are new initiatives in hand that are expected to improve the status of Shell s industry-leading Downstream by focusing on the most profitable positions and growth potential. Shell has plans to reduce its world-wide refining capacity by 15% and 35% of its current retail markets. We are also taking steps to further improve our chemical assets quality. INVESTMENT $25-27 billion net capex/year Up to $3 billion/year asset sales Affordability, profitability, portfolio GROWTH DELIVERY Shell has some 11 billion boe of new oil and gas resources under construction, and it has selective downstream growth opportunities. Net capital investment is expected to be $25-27 billion per year for , with up to $3 billion per year of asset sales and $25-30 billion per year of organic investment. Annual spending will be driven by the timing of investment decisions and the near-term macroeconomic outlook as Shell invests for long-term growth. Cash flow from operations excluding net working capital movements was $24 billion in We expect cash flow to grow by around 50% from , assuming a $60/b oil price and a more normal environment for natural gas prices and downstream margins. In an $80/b world, 2012 cash flow should be at least 80% higher than 2009 levels. Downstream, Shell is adding new chemical capacity in Singapore and refining capacity in the USA, and is making selective growth investments in marketing. Oil and gas production is expected to average 3.5 million boe/d in 2012, compared with 3.1 million boe/d in 2009 an increase of 11%. NEXT-GENERATION PROJECT OPTIONS Shell has built up a substantial portfolio of options for its next wave of growth, with over 8 billion boe of resources in the design or concept-selection stage. This portfolio has been designed to capture oil-price upside and minimise our exposure to cost inflation and political risk. Key elements of this portfolio include deep water Gulf of Mexico, North America tight gas and Australia LNG. Exploration, which delivered 2.4 billion boe of new resources in 2009, underpins the strategy to access new resources. Shell is working to mature these project options, with an emphasis on financial return. The portfolio has the potential to deliver growth to around 2020.

7 Shell Financial and Operational Information Review of the year 5 CAPITAL EMPLOYED BY BUSINESS $ billion 200 CAPITAL EMPLOYED BY REGION % 100 CAPITAL UNDER CONSTRUCTION $ billion Downstream Upstream Europe Asia-Pacific Other Americas Upstream Downstream NEW CASH FLOW GENERATION $ billion ADDING TO UPSTREAM UNIT CASH FLOWS $/boe OIL AND GAS PRODUCTION GROWTH kboe/d 4,000 3,000 2,000 1, Project capex Project cash flows Post-FID key projects and 2009 start-ups; including GTL, oil sands upgrader, LNG liquefaction, Refining, Chemicals; forecast at $70/b oil price $60/b $80/b start-ups: 2012 impact Oil and gas production, forecast at $70/b CONVERTING RESOURCES TO PRODUCTION % On-stream 2009 Under construction CONVERTING RESOURCES TO PRODUCTION billion boe recources MARKETING PORTFOLIO % Retail Lubricants Aviation fuels Bulk fuels Exploration: Australia Gas N.America Tight gas Gulf of Mexico Prelude Pearls (CMOC) Gorgon N.America Gas Caesar/Tonga Sakhalin II Parque das Conchas 25 0 Resources Traditional LNG Tight gas GTL Production Resources Production Sour Deep water Heavy oil/eor On-stream Under construction Design and concept selection Longer-term upside #sites #markets #markets #markets Direct Indirect Exits

8 6 Shell Financial and Operational Information Review of the year Market overview Price and margin information Year Average [A] 2005[A] Shell REALISED PRICES SUBS EAI SUBS EAI SUBS EAI SUBS SUBS Oil and NGL ($/b) Europe Asia Australia/Oceania [C] [C] [C] Africa North America USA North America Canada [B] 50.27[B] South America Total Natural gas ($/thousand scf) Europe Asia Australia/Oceania [C] [C] [C] Africa North America USA North America Canada South America Total Oil sands related ($/b) North America Synthetic crude oil North America Bitumen North America Minable oil sands Industry Oil and gas marker industry prices Brent ($/b) WTI ($/b) Henry Hub ($/MMBtu) UK National Balancing Point (pence/therm) Japanese Crude Cocktail JCC ($/b) Refining marker industry gross margins [D] ($/b) US West Coast margin US Gulf Coast margin Rotterdam Brent Singapore Chemical margins [D] ($/tonne) US ethane Western Europe naphtha North East Asia naphtha [A] EAI prices available from [B] Includes bitumen. [C] Estimate based on publicly available data. [D] Industry margins based on available market information at the end of the year. OIL AND GAS MARKER INDUSTRY PRICES REFINING MARKER INDUSTRY GROSS MARGINS CHEMICAL MARGINS $/b $/MMBtu $/b $/tonne Brent WTI Henry Hub ($/MMBtu) JCC US West Coast margin US Gulf Coast margin Rotterdam Brent Singapore US ethane North East Asia naphtha Western Europe naphtha

9 Shell Financial and Operational Information Review of the year 7 Results REVENUE $ million INCOME ATTRIBUTABLE TO ROYAL DUTCH SHELL PLC SHAREHOLDERS $ million CASH FLOW FROM OPERATING ACTIVITIES [A] $ million 458,361 31, , , , ,731 26,277 25,442 25,311 35,983 40,667 35,748 35,777 23,819 12, [A] Excludes working capital movements BASIC EARNINGS PER SHARE $ TOTAL EQUITY $ million DIVIDENDS PAID TO ROYAL DUTCH SHELL PLC SHAREHOLDERS $ million , , , ,945 97,924 10,526 9,516 9,001 8,142 10, SUMMARY OF RESULTS $ million Upstream 8,354 26,506 18,094 17,852 15,827 Downstream (CCS basis) 258 5,309 8,588 8,098 8,103 Corporate and minority interest 1,192 (449) 882 (585) (1,199) CCS earnings 9,804 31,366 27,564 25,365 22,731 Estimated CCS adjustment for Downstream 2,714 (5,089) 3, ,580 Income attributable to shareholders 12,518 26,277 31,331 25,442 25,311 Basic CCS earnings per share ($) Estimated CCS adjustment per share ($) 0.44 (0.82) Basic earnings per share ($) Cash flow from operating activities 21,488 43,918 34,461 31,696 30,113 Cash flow from operating activities per share ($) Dividend per share [A] ($) [A] From 2007 onwards dividends are declared in US dollars. Previous years dividends were declared in euros and translated, for comparison purposes, to US dollars (based on the US dollar dividend of American Depositary Receipts converted to ordinary shares in the applicable period). IDENTIFIED ITEMS BY BUSINESS SEGMENT $ million Upstream (134) 3,487 1, ,643 Downstream (CCS basis) (1,682) (435) 299 (75) (289) Corporate and minority interest 67 (96) 489 (247) (79) CCS earnings impact (1,749) 2,956 2, ,275

10 8 Shell Financial and Operational Information Review of the year Key development projects AOSP EXP1 NORTH AMERICA TIGHT GAS PORT ARTHUR CAESAR/TONGA PERDIDO CORRIB GJOA BONGA NW GBARAN UBIE PH 1 SCHOONEBEEK KASHAGAN MAJNOON WEST QURNA 1 QATARGAS 4 PEARL GTL SAS AMAL STEAM HARWEEL QARN ALAM SINGAPORE CHEMICALS GUMUSUT PLUTO (WOODSIDE) GORGON NORTH RANKIN B Key Oil/gas Refining/chemicals Integrated upstream/downstream key projects Peak production LNG 100% Start-up Project Country Shell share(%) 100% (kboe/d) capacity (mtpa) Products Category Shell operated AOSP Exp 1 Canada Heavy oil/eor Caesar/Tonga USA Deep water Gbaran Ubie Ph 1 Nigeria Traditional Gjoa Norway Traditional Harweel Oman Heavy oil/eor North America Tight gas USA/Canada Various 100[A] Tight gas Pearl GTL Qatar ,000 b/d GTL+ GTL Perdido USA Deep water Pluto LNG T1 (Woodside) Australia 31[B] LNG Qarn Alam Oman Heavy oil/eor Qatargas 4 Qatar LNG Schoonebeek The Netherlands Heavy oil/eor Shell Eastern Petrochemicals Singapore ,000 tpa ethylene Downstream Amal Steam Oman Heavy oil/eor Corrib Ireland Traditional Gumusut Malaysia Deep water Kashagan Ph 1 Kazakhstan Sour Majnoon/West Qurna 1 Iraq 45/15 >30[A] Traditional North Rankin B Australia Traditional Port Arthur Refinery Expansion USA Downstream SAS Abu Dhabi Traditional Bonga NW Nigeria Deep water Gorgon LNG T1-3 Australia LNG [A] Shell share. [B] Shell direct and indirect position via its 34.27% shareholding in Woodside Petroleum Ltd.

11 Shell Financial and Operational Information Review of the year 9 highlights Key development projects under construction Upstream production expected to reach 3.5 million boe/d in 2012, an increase of 11% from 2009; will see 12 new upstream start-ups, which will add around 600,000 boe/d by ; Projects will access 11 billion boe of new oil and gas resources; Some 7.6 mtpa of new LNG capacity, an increase of some 40% over 2009 levels; Selective downstream growth opportunities. PROGRESSING NEW PROJECTS Sakhalin II (Shell interest 27.5%) The Sakhalin II project is one of the world s largest integrated oil and gas projects. Its first year-round oil exports started in December 2008, and its first LNG exports began in March To make those exports possible, two offshore platforms and some 300 km of offshore pipelines were built to bring oil and gas production to Sakhalin Island, in the far east of Russia. Two 800 km-long pipelines then take the hydrocarbons to the Sakhalin II oil export terminal and liquefied natural gas (LNG) plant Russia s first. In the third quarter of 2009, the project achieved peak production of over 400,000 boe/d and successfully ramped up production from its two LNG trains. Parque das Conchas (Shell interest 50%; Shell operated) The Parque das Conchas project (originally known as the BC-10 project) was designed to produce predominantly heavy oil from three fields lying under 1,780 m of water offshore Brazil. It is a technically challenging project. Not only are the waters very deep, but the reservoirs, which lie some two kilometres under the seabed, are at low pressure. Cutting-edge technologies had to be applied to deliver sufficient power and heat to process the heavy crude on the seafloor. The project also marks the first undersea application of gas separators and pressure-boosting pumps. The first phase of the project entails drilling 10 wells and tying them back to a double-hulled floating production, storage and offloading vessel with a processing capacity of 100,000 boe/d of oil and 50 million scf/d of natural gas. Production from the fields started in the second half of Perdido (Shell interest 35.4%; Shell operated) The Perdido project involves the installation of drilling, production, processing and export facilities on a huge spar that floats in the ultra-deep waters of the Gulf of Mexico. The floating spar was anchored in place in 2008, and its drilling and production platform was installed in Export pipelines 124 km long for the oil and 172 km long for the gas have been laid. The fields to be developed include Great White, Tobago and Silvertip. All in all, about 35 undersea wells are to be drilled. One of them was completed at a world-record water depth of over 2,850 m. Production from the project started at the end of March Projected peak production is some 100,000 boe/d. AOSP Expansion 1 (Shell interest 60%; Shell operated) The Expansion 1 project is intended to boost the production capacity of the Athabasca Oil Sands Project (AOSP) by 100,000 b/d, from its current capacity of 155,000 b/d. The AOSP currently sythesises a crude oil at the Scotford Upgrader from the bitumen extracted from oil sands of the Muskeg River Mine in Alberta, Canada. The Expansion 1 project includes: installation of mining and extraction facilities at Jackpine Mine, which lies east of the Muskeg River Mine; building up of the froth treatment facilities at Muskeg River; the addition of another processing train to the Scotford Upgrader; the construction of common infrastructure, such as power transmission lines, roads, camps and on-site pipelines to support future expansions. The project is expected to be completed between 2010 and Pearl GTL (Shell interest 100% via PSC; Shell operated) Pearl GTL, which is being constructed by Qatar Petroleum and Shell, will be the world s largest gas-to-liquids (GTL) plant. Shell is funding 100% of the project s development costs under a profit-sharing agreement with the State of Qatar. The culmination of over 30 years of Shell experience with GTL technologies, the project is designed to produce 120,000 boe/d of natural gas liquids and 140,000 b/d of GTL products from 320,000 boe/d of natural gas piped in from the offshore North field. Major construction will be completed by the end of 2010, with production ramp-up in Qatargas 4 (Shell interest 30%) The Qatargas 4 LNG project, a joint venture with Qatar Petroleum set up under a tax-and-royalty contractual structure, is designed to convert some 1.4 billion scf/d of natural gas into liquefied natural gas (LNG) and natural gas liquids (NGLs). The project will add to Shell s current worldwide LNG capacity of 18.5 mtpa, sustaining its industry leadership in LNG. Qatargas 4 will have a capacity of 7.8 mtpa of LNG and some 70,000 boe/d of NGLs. The LNG will be sold to customers in China, the UAE and the USA as well as in new markets currently being developed. Qatargas 4 upstream peak production is expected to reach 280,000 boe/d. Major construction will be completed by the end of 2010, with production ramp-up in Gbaran Ubie (Shell 30%; Shell Petroleum Development Company operated) The Gbaran Ubie project is one of Nigeria s largest oil and gas developments. The project scope includes the drilling of 30 new wells over an area of approximately 650 km 2, the construction of a central processing facility to process both oil and gas, and the laying of more than 300 km of flowlines and pipelines. The gas will be delivered to the Nigeria LNG plant and a nearby power station. When completed between 2010 and 2011, it will have a peak production capacity of one billion scf/d of gas and more than 70,000 b/d of oil. The project will help to meet government targets to reduce the flaring of gas.

12 10 Shell Financial and Operational Information Upstream

13 Shell Financial and Operational Information Upstream 11 Upstream highlights Production of 3.1 million boe/d; Added 3.4 billion boe of proved reserves. Made 11 notable exploration discoveries in Australia, the US Gulf of Mexico (GoM), Malaysia, Norway and Oman and had particularly strong results from exploration and appraisal drilling in the North American Haynesville and Groundbirch tight-gas areas, and offshore Western Australia; Completed acquisitions of new exploration licences in Australia, Brazil, Canada, Guyana, Italy, Jordan, Norway and the USA and successfully bid for new licences in Egypt, South Africa and French Guiana; LNG sales volume of 13.4 million tonnes; Delivered first production from two projects, Parque das Conchas in Brazil and Sakhalin II in Russia; FID taken on 15 mtpa Gorgon LNG project in Australia, Caesar Tonga in GoM, USA and on SAS in Abu Dhabi; Three LNG projects under construction in Qatar and Australia; New flagship Upstream projects such as Perdido in GoM, AOSP 1 in Canada, Gbaran Ubie in Nigeria, Pearl GTL and Qatargas 4 in Qatar progressed well. Key statistics Segment earnings ($ million) Upstream International 7,209 19,298 12,453 12,773 10,819 Upstream Americas 1,145 7,208 5,641 5,079 5,008 Total Upstream earnings ($ million) 8,354 26,506 18,094 17,852 15,827 of which Integrated gas 1,785 4,093 3,144 2,642 2,295 Upstream cash flow from operations [A] ($ million) 18,445 35,448 25,870 26,430 22,289 Crude oil production [B] (thousand b/d) 1,581 1,693 1,818 1,948 1,998 Natural gas production [B] (million scf/d) 8,483 8,569 8,214 8,368 8,263 Synthetic oil production [B] (thousand b/d) 80 Bitumen production [B] (thousand b/d) 19 Mined Oil Sands production [B] (thousand b/d) Total production [B] [C] (thousand boe/d) 3,142 3,248 3,315 3,473 3,518 Equity LNG sales volume (million tonnes) Upstream capital investment ($ million) 23,951 32,166 21,362 20,281 13,698 Upstream capital employed ($ million) 98,826 83,997 71,711 71,414 56,984 Upstream employees (thousands) [A] Excludes net working capital movements. [B] Available for sale. [C] 5,800 million cubic feet of natural gas is equal to one million boe. EARNINGS $ billion 4 OIL AND GAS PRODUCTION million boe/d 4 million tonnes Q408 Q109 Other Upstream Integrated gas Q209 Q309 Q409 Excluding identified items 0 Q408 Q109 Oil and NGL Gas Equity LNG sales volumes (million tonnes) Q209 Q309 Q409 0

14 12 Shell Financial and Operational Information Upstream Exploration Shell s exploration strategy is designed to replace production and to build a strong portfolio of new field developments for future growth. We have exploration licences in some of the most promising sedimentary basins around the world and have had significant success discovering resources in them. We focus on keeping our cost structure low and competitive. Innovative seismic technology, extensive geological knowledge, integrated gas positions, and early access to prospective acreage all these characteristics have contributed to our success in exploration. Discoveries Shell has delivered strong exploration results over the last five years. On average, we found more than 1.5 billion boe of new hydrocarbon resources each year. In 2009 alone, Shell added 2.4 billion boe of resources on the basis of exploratory and appraisal drilling. During 2009 we participated in 345 successful wells drilled outside proved areas. They comprised 28 conventional oil and gas wells, 148 unconventional gas exploration and appraisal wells, and 169 appraisal wells near known fields. Eleven notable discoveries were made during 2009 in Australia, the US Gulf of Mexico, Malaysia, Norway and Oman. We also saw particularly strong results from exploration and appraisal drilling in the North American Haynesville and Groundbirch tight-gas areas. In appraisal drilling, we participated in three notable successes in onshore and offshore Australia and the UK. Our exploration finding cost over the last five years has averaged $2-3/boe a competitive rate. We spent a total of around $3.3 billion on exploration in Acreage additions Since 2005 Shell has acquired exploration rights to some 400,000 km 2. During this period, our focus has shifted towards OECD countries and areas with political stability and benefits from price upside. In 2009, Shell acquired exploration rights to some 100,000 km 2 of acreage, mainly from licences in Australia, Brazil, Canada, Guyana, Italy, Jordan, Norway and the USA. We also successfully bid for new licences in Egypt, South Africa and French Guiana; the corresponding agreements will be finalised in Additionally, we have signed agreements to conduct studies to determine the hydrocarbon potential of certain areas in China and South Africa. Technology Shell uses appropriate technologies at different stages of evaluation. We integrate our own technologies with the best from the external market. We use these technologies to assess the scale, risk and resource potential of geological basins, reservoirs and prospects. In addition, we use technology to optimise the costs and development scenarios required to bring the discoveries into production. Shell has invested in high-performance hardware and developed software that allows us to apply proprietary seismic techniques. We combine this with technology that places seismic sensors directly on the seabed. This allows us to better see exploration prospects beneath complex features like salt bodies deep below the seabed. We have been working on subsalt and deep complex imaging in the Gulf of Mexico, the North Sea, and in Brazil. Fully integrating technology in our exploration programme enables us to identify the most attractive opportunities, manage risk and uncertainty, improve our success rate, and lower our unit finding costs. Key 2009 Discovery Areas Australia LNG Exploratory and appraisal drilling continued in Shell-operated acreage around the Prelude gas field, whose development is being evaluated on the basis of a floating liquefied natural gas (FLNG) plant. Combined with Prelude, the 2009 Concerto discovery brings the total gas resources in the area to over 3 tcf. Chevron-operated wells have revealed more gas around the Gorgon field, (Shell interest 25%) increasing the likelihood for new LNG trains in the development project there, beyond the three that are under construction today. Gulf of Mexico Notable discoveries include fields in the Mars Basin: Vito and West Boreas in 2009 and South Deimos in the early The Vito field alone is estimated to have more than 200 million barrels of recoverable resources. We have also done appraisal work at the Lower Tertiary Stones discovery, with three wells now drilled. Total oil in place may amount to 5 billion barrels, and we are looking into an early production system to assess its potential. North America Tight Gas We have material positions in two of the most promising formations: the Haynesville Shale in the US states of Texas and Louisiana and the Montney Shale in the Canadian province of British Columbia. In 2009, the results of drilling in that acreage enabled us to increase our resource base by 8 tcfe. Put together through a series of farm-ins, joint ventures leasing and small acquisitions at a competitive cost of $0.45 per million scf, our total North America tight-gas resource base now stands at 3.7 billion boe. Our tight-gas production increased by over 60% in 2009, and we have the resource potential to more than double it by 2020, to over 400,000 boe/d. This is a flexible portfolio, where spending levels can be moved up or down, depending on near-term gas prices and rig rates, and spending choices elsewhere in the company. Economics are also attractive in a $4-6/ MMBtu gas price range. As we continue with the appraisal and development programme in tight gas, we are seeing sharp improvements in drilling costs and reduced drilling times. This improves further the economics of these developments. RESOURCES ADDITIONS billion boe Oil Gas

15 Shell Financial and Operational Information Upstream 13 Significant 2009 acreage additions Australia We acquired one licence (W08-22) in the Exmouth area, which lies 480 km offshore north-west Australia. The licence acreage covers more than 6,400 km 2. Brazil As announced in December 2008, we submitted the highest bid on all five blocks (SF-T-80, SF-T-81, SF-T-82, SF-T-83 and SF-T-93) in the ANP Bid Round 10 in the onshore São Francisco basin. The blocks acreage totals 11,000 km 2. The transaction was completed in June Canada We expanded further our tight-gas holdings in British Columbia. China We signed an agreement with PetroChina in November 2009 to assess the shale gas resources in Sichuan province. Work commenced in January 2010 in the Fushun block, which covers an area of approximately 4,000 km 2. In March 2010, Shell and China National Petroleum Corporation agreed to jointly develop and produce natural gas in an area of approximately 4,000 km 2 in the Jinqiu block of central Sichuan. The production sharing contract is subject to the Chinese central government approval. Egypt In May 2009, we were awarded a one-third, non-operating stake in the North Damietta Offshore Block 3. The acreage covers an area of around 1,600 km 2. The transaction was approved in February French Guiana In November 2009, we acquired a one-third non-operating interest in the Guyane Maritime Permit, approximately 150 km offshore. The permit area covers approximately 32,000 km 2 situated in water 2,000 3,000 metres deep. Guyana Shell acquired a 25% interest in the Stabroek deep-water exploration licence and petroleum agreement. The licence covers 47,000 km 2. The transaction was approved in February Italy In late 2008, Shell acquired equity interests (Shell interest from 55% to 70%) in six blocks (GR17-NP, GR18-NP, GR19-NP GR20-NP, GR21-NP, GR22-NP) located in the Sicily channel, offshore Italy. We would assume operatorship for the drilling phase. Final agreements were signed in January Jordan Shell secured the right to explore and potentially develop the country s oil shale resources. We will assess the resources in an area of 22,250 km 2 located in the central, southern and north-western regions of the country. Norway Shell was awarded a 40% operating interest in Block 6705/12 (PL 538). Furthermore, Shell was awarded a 20% stake in the PL527 licence in the sub-basalt part of the Vøring Basin. This area is close to the PL326 and PL392 licences where the Gro and Asterix discovery wells were drilled. South Africa Shell successfully bid for the exploration rights in the Orange Basin deep-water area off the country s west coast in November The area covers approximately 37,000 km 2. In December 2009, the South African Petroleum Authorities awarded Shell a Technical Cooperation Permit for a one-year study to determine the hydrocarbon potential in parts of the Karoo Basin in central South Africa. USA Gulf of Mexico In 2009, we acquired 42 blocks in the central and eastern Gulf of Mexico through Lease Sales 208 and 210, and in March 2010 we were the apparent high bidder on further 20 blocks in Lease Sale 213. USA Onshore We also acquired additional leases in the Rocky Mountains and in northern Louisiana in Exploration performance CHUKCHI BEAUFORT NORWAY NORTH AMERICA TIGHT GAS ORPHAN UK SWEDEN GERMANY UKRAINE CASPIAN ITALY SYRIA CHINA GULF OF MEXICO JORDAN NORTH AFRICA FRENCH GUIANA GUYANA NIGERIA GABON COLOMBIA OMAN PHILIPPINES BRAZIL Key 2005 March 2010 acreage access 2009 exploration and appraisal success SOUTH AFRICA AUSTRALIA

16 14 Shell Financial and Operational Information Upstream Options for future growth Shell has over 8 billion boe of hydrocarbon resources at the design or concept-selection phase of development. They constitute our potential for new growth until around We are working to turn them into solid project plans, driven by financial returns. Approximately 35 new projects are contained in our set of plan options. The main areas of potential growth include the Gulf of Mexico, onshore North America and offshore Australia. GULF OF MEXICO In the Gulf of Mexico Shell has established at least three new production hubs at the Vito, Stones and Mars B fields with more than 150,000 boe/d production potential. In early 2010, exploration drilling discovered a fourth potential hub at the Appomattox field. PERDIDO AUGER USA BRUTUS HOLSTEIN CAESAR/TONGA STONES Nakika MARS URSA APPOMATTOX W. Boreas, S. Deimos Shell 100% (operator) >150 million boe resources Mars B Feasibility study for TLP, Shell 72% (operator) ~100,000 boe/d potential Vito >200 million boe resources ~100,000 boe/d potential Shell 55% (operator) Caesar/Tonga ~50,000 boe/d 2009 FID Shell 22.5% Auger TLP Cardamom Deep discovery and appraisal ~20,000 boe/d potential Shell 100% (operator) GULF OF MEXICO Stones 2-5 bln boe in place; complex reservoir Assessing early production options ~80,000 boe/d full development potential Shell 35% (operator) Key New hub Existing production hub km Perdido Spar On-stream 2010 Industry first from Lower Tertiary sands in deep water ~100,000 boe/d, Shell 35% (operator) AUSTRALIA LNG SHELL GLOBAL LNG CAPACITY GROWTH 7.6 mpta new LNG capacity (~40% increase); ~10 mtpa medium-term LNG options; ~1.4 bcf/d (~240,000 boe/d) new production potential. Curtis Island Browse Greater Sunrise Prelude mtpa Qatargas 4 Gorgon Pluto (Woodside) Prelude Others Australia is set to underpin Shell s next tranche of liquefied natural gas (LNG) developments, which promise as much as 10 mtpa of additional capacity by If realised, these developments would increase our total LNG production capacity to about 35 mtpa. Early in 2010, Shell and PetroChina offered to purchase Arrow Energy. On successful completion of the acquisition, a joint venture would own Arrow s Queensland coal-bed methane (CBM) assets and domestic power business as well as Shell s Queensland CBM assets and its site for a proposed LNG plant on Curtis Island, near Gladstone. The offer is subject to the customary conditions, including the approvals of regulators and Arrow shareholders. North West Shelf Pluto (Woodside) Gorgon Dampier km Broome Derby AUSTRALIA On-stream Construction Design Options ~2020 Shell direct and indirect position via its 34.27% shareholding in Woodside.

17 Shell Financial and Operational Information Upstream 15 NORTH AMERICA Tight gas TIGHT GAS PRODUCTION AND POTENTIAL 21 tcfe (3.7 bln boe) resources position; 8 tcfe resources added with 2009 drilling; >250,000 boe/d growth potential to In North America Shell has made great progress with tight gas, adding 8 tcfe of resources in Our tight-gas resources now total 21 tcfe (3.7 billion boe). Tightgas production increased by over 60% in Our current portfolio has the potential for more than 400,000 boe/d of production by WEST CANADA PINEDALE HAYNESVILLE kboe/d bcf/d ~ ,000 km SOUTH TEXAS On-stream Construction Options STRONG PORTFOLIO OF PRE-FID OPTIONS POTENTIAL START-UPS Phase Project Country Shell share (%) Peak production 100% (kboe/d) LNG 100% capacity (mtpa) Category Shell operated STUDY Bonga North Nigeria Deep water Bonga South West Nigeria Deep water Bosi Field Development Nigeria Deep water Erha North Ph 3 Nigeria Deep water Sabah Gas: KBB Malaysia Deep water Vito USA Deep water AOSP Debottlenecking Ph 2&3 Canada Heavy oil/eor Rabab/Harweel Oman Heavy oil/eor Browse LNG Australia 25[B] 320 > 10 LNG Curtis Island LNG Australia tbd tbd tbd LNG NLNG Train 7 Nigeria LNG Sunrise Australia 38[B] 125 ~4 LNG Clair Ph 2 UK Traditional Fram Development UK Traditional Gbaran Ubie Ph 3 Nigeria Traditional Pearls (CMOC) Kazakhstan Traditional Stones USA Traditional DESIGN BC-10 Ph 2 Brazil Deep water BS-4 EWT & EPS Brazil Deep water Malikai Malaysia Deep water Mars B USA Deep water West Boreas, South Deimos USA 100 tbd Deep water AOSP Debottlenecking Ph 1 Canada Heavy oil/eor Carmon Creek Ph 1 Canada Heavy oil/eor Pluto LNG T2 (Woodside) Australia 34[B] > LNG Prelude Australia LNG North America Tight gas North America Various > 350[A] Tight gas 1.8 Bab ThG & Hb2 Abu Dhabi Traditional Champion Waterflood Brunei Traditional Gbaran Ubie Ph 2 Nigeria Traditional Kashagan Ph 2 Kazakhstan Sour Majnoon full field/west Qurna 1 Iraq 45/15 >150[A] Traditional Tempa Rossa Italy Traditional Val d Agri FDP Ph 2 Italy Traditional [A] Shell entitlement at $70/b. [B] Shell direct and indirect position via its 34.27% shareholding in Woodside Petroleum Ltd.

18 16 Shell Financial and Operational Information Upstream LNG Liquefied natural gas (LNG) demand is growing by as much as 6% per year, and by some estimates LNG demand will double, from 182 mtpa in 2009 to over 360 mtpa in Our expertise in the LNG industry is based on the more than 45 years of technical advice that we have provided for liquefaction plants around the world including the world s first, which came on-stream in 1964 at Arzew, Algeria. Since then, we have provided technical advice for projects that account for 40% of today s LNG production. Shell not only has the most experience but also the largest LNG portfolio of any international oil and gas company. We have 18.5 mtpa of Shell-share liquefaction capacity currently in operation and approximately 7.6 mtpa more under construction. We also own equity in two regasification terminals, one in India and another in Mexico, and we have capacity rights in several others; all together, they amount to more than 15 mtpa. Our LNG plants stand out as technical achievements. The Qalhat LNG and Oman LNG plants have the best performance of any LNG plant in tropical conditions. The recently completed Sakhalin II LNG plant, in contrast, has been designed to have the best performance in cold climates. Some of our plants have the lowest CO 2 emissions in the industry. In joint ventures with partners, we currently produce LNG in Australia, Brunei, Malaysia, Nigeria, Oman and Russia. In 2009 our equity sales amounted to 13.4 million tonnes, which were delivered under long-term contracts to markets in Asia-Pacific, Europe and North America. We have three new LNG plants under construction: Qatargas 4 (Shell interest 30%) in Qatar as well as Pluto (Shell indirect interest 31%) and Gorgon (Shell interest 25%) in Australia. When they are brought on-stream in the period , the Shell-share LNG capacity will grow to around 26 mtpa. Further capacity is expected to come from projects under evaluation and development in Australia and Libya. With our current and future assets, we are well positioned to capture the growth opportunities in LNG. Historical chart Brunei Malaysia NWS Nigeria Oman Qalhat Sakhalin Qatargas 4 Pluto (Woodside) Gorgon T1-3 In operation Under construction LNG CAPACITY AT YEAR-END mtpa 30 SHELL S LNG RELIABILITY % LNG SALES VOLUMES % 20 USA Europe Asia-Pacific Shell Exxon BP Total Chevron BG Projects in operation or under construction

19 Shell Financial and Operational Information Upstream 17 SHELL s global LNG portfolio ELBA ISLAND QATARGAS 4 GORGON PLUTO (WOODSIDE) Key LNG operation LNG construction Regasification operation Regasification construction Production Production reflects the reliability of existing Upstream production facilities and the on-time delivery of new wells and projects. It is one of Shell s key performance indicators, because changes in production have a significant impact on Shell s cash flow. Longer term, a key strategic goal is the accessing and unlocking of new reserves so that production can grow with a strong per-barrel cash generation. Shell investment decision-making focuses on generating shareholder value through the most economically attractive projects rather than focusing on specific reserve or volume targets. Production for the year 2009 amounted to 3,142 thousand boe/d, which was 3% lower than in Overall, crude oil production was down 5% and natural-gas production was about the same relative to Excluding the impact of divestments, OPEC production-quota restrictions and the effect of oil-price changes in the entitlements of production-sharing contracts (PSCs), production was 2% lower in 2009 than in The lower 2009 production is attributable to the production declines in existing fields, OPEC restrictions, security issues in Nigeria, and higher maintenance downtime mainly in the UK. These declines were partly offset by new field start-ups, the continuing ramp-up of fields, PSC price effects and a comparatively mild 2009 hurricane season in the USA. Production from mature fields can fall at a rate of 15% per year or more. Our portfolio s average annual production decline rate has been about 5%. In 2009 field declines were predominantly seen in the UK and the USA, but they were also seen in Australia, Brazil, Canada, Denmark, Malaysia and Norway. The replacement of the forgone production with new production is a significant challenge for the industry. In our case, the incremental production from new field start-ups and the continuing ramp-up of fields in 2009 some 200 thousand boe/d more than offset the field declines during the year. Currently, Shell has projects under construction that will access some 11 billion boe of new oil and gas resources. Many of these new projects will be long-lived assets that can run for decades, with low decline rates. By 2012 our production is expected to reach 3.5 million boe an 11% increase from Additionally, we have over 8 billion boe of hydrocarbon resources at the design or concept-selection phase of development. They constitute our potential for new growth until around We are working to turn them into solid project plans some 35 of them driven by financial returns.

20 18 Shell Financial and Operational Information Upstream proved Reserves In December 2008, the United States Securities and Exchange Commission (SEC) adopted revisions to the reporting rules governing oil and gas reserves. These revisions were later adopted by the Financial Accounting Standards Board (FASB) in January Our proved reserves volumes reported for the end of 2009 have been determined in accordance with these updated rules. At the end of 2009, the proved oil and gas reserves excluding minority interest amounted to 14.1 billion boe almost 19% more than the 2008 and 2007 levels. Reserve life (an estimate of how many years it would take to exhaust the current proved reserves base at the current level of production) has increased from 10 years at end 2008 to approximately 12 years at the end of Excluding acquisitions and divestments but including year-end price effects, proved reserves additions in 2009 amounted to 288% of the year s production. Over the three-year period , we added on average some 2.0 billion boe to our reserves every year, resulting in a reservereplacement ratio of 164% was a record year for additions to proved oil and gas reserves. The largest proved reserves additions came from new fields linked to the Gorgon LNG project in Australia, deep-water field developments in the Gulf of Mexico (Perdido and Auger) and Brazil (Parque das Conchas), and the expansion of the Athabasca Oil Sands Project in Canada. Proved reserves revisions were also made across the global Shell portfolio in China, Kazakhstan, Malaysia, the Netherlands, Nigeria, Qatar and Russia. Major reserves additions NORWAY CANADA NETHERLANDS KAZAKHSTAN RUSSIA USA CHINA PEARL QATARGAS 4 NIGERIA MALAYSIA AUSTRALIA Proved oil and gas reserves excluding minority interest billion boe Organic reserves additions [A] Production Total proved reserves [A] Excluding acquisitions, divestments and year-end price impact.

21 Shell Financial and Operational Information Upstream 19 Europe highlights Shell s European production amounted to 0.9 million boe/d, which is around 29% of our total 2009 production; Our oil and gas exploration and production earnings after tax from subsidiaries in the region were $1.2 billion. Our share of oil and gas exploration and production earnings of equity-accounted investments was $1.5 billion; We are participating in the development of three key projects: Corrib in Ireland, Gjoa in Norway and Schoonebeek in the Netherlands. NAM s other important asset the Schoonebeek oil field (Shell interest 30%) is the largest in northwest Europe. It had been shut down since 1996 as production had been deemed to be no longer economical. In 2008, however, a decision was taken to redevelop the field on the basis of horizontal wells combined with low-pressure steam injection. The field s production is now planned to be restarted between 2010 and 2011, with an expected peak production of some 20,000 boe/d. Key figures 2009 % of total Total production [A] (thousand boe/d) % Oil and NGL production [A] (thousand b/d) % Natural gas production [A] (million scf/d) 3,470 41% Gross developed and undeveloped acreage (thousand acres) 18,815 6% Proved oil and gas reserves excluding minority interest [B] (million boe) 3,256 23% [A] Available for sale. [B] Includes proved reserves associated with future production that will be consumed in operations. Denmark Shell holds a non-operating 46% interest in a producing concession that was granted in 1962 and will expire in The concession includes the producing Halfdan field. Shell s concession interest will reduce to 36.8% in July 2012, when the government increases its position to a 20% fully participating stake in the concession. We also hold an interest in one other non-operated exploration licence. The Halfdan IV Project, which extends the development of the Halfdan field, was started in early New processing facilities will maximise production from new wells, thereby accelerating the hydrocarbon recovery and increasing the volume ultimately recovered from the field. In 2009, Shell participated in the well that made the Luke discovery. Ireland Shell is the operator of the Corrib Gas Project currently under development (Shell interest 45%). The project is largely complete, with five offshore wells ready for production, an offshore pipeline laid during the summer of 2009 and an onshore processing terminal nearly finished. The completion is pending a final decision from the Irish planning board on an application for a 9-km onshore pipeline. All the gas will be supplied to the Irish market. At peak production, Corrib is expected to supply up to 60% of the country s gas needs. Shell has further exploration interests in six licences offshore Ireland, of which four are operated. Italy Shell has interests in the Val d Agri field (Shell interest 39.23%), which has been in production since 1996, and in the Tempa Rossa field (Shell interest 25%), currently under development. Shell also has 100% interests in nearby exploration prospects and between 55% and 70% interest in six exploration blocks in the Sicily Channel. The Netherlands Shell operates via its 50% shareholding in Nederlandse Aardolie Maatschappij B.V. (NAM), the largest hydrocarbon producer in the Netherlands. About half of NAM s gas production comes from the giant onshore Groningen gas field (Shell interest 30%). The field was discovered in 1959 and has been producing since It currently supplements production from small gas fields and meets swings in demand by means of underground gas storage facilities, thereby playing a crucial role in assuring the security of Dutch and European gas supply. It has a production capacity of up to 2.8 million boe/d. The Groningen field operates with 100% reliability and has so far supplied gas within the contract requirement of less than one hour of downtime every 20 years. In 2009, a 15-year modernisation programme was finalised, allowing the Groningen field to operate for another 50 years.

22 20 Shell Financial and Operational Information Upstream Norway Shell has been active in Norway since the late 1960s. We are the operator of the Draugen oil field and since December 2007 the operator of the Ormen Lange gas field. We are also a partner in over 20 production licences on the Norwegian continental shelf, including those covering the Troll and Statfjord fields. We are the operator in eight of those licences. The Ormen Lange field (Shell interest 17%) is Norway s second biggest gas field. It is located 120 km offshore in water depth of between 800 and 1,100 m. The field s geological complexity and the harsh offshore conditions have necessitated the application of innovative undersea production technology. Undersea pipelines transport the produced gas to the Nyhamna Plant, from where the world s longest undersea gas pipeline takes it 1,200 km to Easington in the UK. Ormen Lange has demonstrated excellent operational performance since its start-up in September In November 2009, it reached its peak production of around 430,000 boe/d, equivalent to about 20% of the UK s gas needs. The Draugen field (Shell interest 26%) has been producing for 15 years. And it is expected to continue producing for another 15 years, allowing some 70% of the field s oil to be recovered. In November 2009, Shell announced that it would transfer all of its interests in the Valhall and Hod offshore fields to the Hess Corporation in exchange for their entire upstream portfolio in Gabon and its interest in the Clair field, which lies in British waters west of the Shetland Islands. The transaction is subject to government approval and other requisite consents. In June 2009, Shell successfully drilled the first exploration well in the Gro gas field of Production Licence 326 (Shell interest 50%). Current estimates from Norwegian Petroleum Directorate put the field s gas volumes in the range between 0.3 and 3 tcf. An appraisal well will be drilled in 2010 to confirm the field s potential upside. We have also participated in the Asterix discovery (Shell interest 10%). Shell additionally holds interests in potential development assets and in several Norwegian gas transportation and processing systems, pipelines and terminals. The Nyhamna processing plant in Norway.

23 Shell Financial and Operational Information Upstream 21 UK Shell is one of the largest integrated oil and gas companies in the UK, with production in 2009 amounting to 207,000 boe/d for Shell almost 7% of our total group production. Shell operates a significant number of its fields in the UK continental shelf (UKCS) on behalf of a joint venture set up in The venture (Shell interest 50%) was awarded 75 licences, which first yielded gas in 1968 (from the Leman field) and oil in 1975 (from the Auk field). The venture also jointly owns the giant Brent oilfield, which is operated by Shell. The UKCS is a mature area, so growing production is a challenging endeavour. Most of Shell s UK oil and gas production comes from the North Sea. The northern and central sectors of the North Sea contain a mixture of oil and gas fields, whereas the southern sector contains mostly gas fields. As a result of a strategic swap of assets with Hess (see Norway section for details), Shell s stake in the Clair field of the UK would increase from 18.7% to 28%. Transaction is subject to government approval and other requisite consents. In 2009, Shell successfully drilled a well to appraise the Fram field (Shell interest 28%, operator) in the central North Sea. The field s development plan is based on four horizontal wells with evacuation via a 20 km tie-in to the Curlew platform. Shell also has non-operating interests in the Schiehallion, Clair and Loyal fields in the West Shetlands area of the Atlantic Margin. Other Shell also has interests in Austria, Germany, Greece, Hungary, Slovakia, Spain, Sweden and Ukraine. A b A b Italy Ukraine { Shell oil projects { Terminal { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities Shell gas pipeline Shell oil pipeline Shell interest (land) Shell interest (sea) A SLOVENIA CROATIA B KHARKIV SAN MARINO BOSNIA AND HERZEGOVINA Dnieper-Donetsk ITALY ROME MONTENEGRO ADRIATIC SEA UKRAINE NAPLES Tempa Rossa Val d'agri KHERSON TYRRHENIAN SEA SEA OF AZOV PALERMO TUNISIA G.R17-22.NP IONIAN SEA RUSSIA km km

24 22 Shell Financial and Operational Information Upstream North-west Europe c c { Shell oil projects { Terminal Shell gas pipeline Shell interest (land) { Shell gas projects [ 2009 discoveries from { core exploration activities Shell oil pipeline Shell interest (sea) 40C: North West Europe { Shell oil and gas projects C Asterix ICELAND Gro Onyx SW Ormen Lange Tobermory Loyal Schiehallion Clair Penguin Statfjord Brent Sullom Voe Beryl Kingfisher Forties Nelson Gannet Merganser Pierce Shearwater Starling Goldeneye Guillemot Bittern Curlew Fram Valdemar Roar Tyra Gorm Halfdan Skjold Dan Caravel Carrack Galleon Barque Bellanaboy Bridge Corrib IRELAND DENMARK Nybro L/09-FA L/09-FB Harkema Groningen Norg L/09 K15 K08A Eleveld-NN Shamrock Den Helder Bacton Callantsoog K17A Leman K15-FD-W IJmuiden K11-Zebra Schoonebeek Hoek V Holland NETHERLANDS Maasvlakte EASINGTON UNITED KINGDOM Valhall Harald Luke SWEDEN Benbecula NORWAY Dooish Nyhamna Gjoa Kvitebjorn Troll St. Fergus Draugen GERMANY BELGIUM FRANCE km LUXEMBOURG Hemmelte/Kneheim/Vahren Klostar/Kirchseelte/Ortholz Boetersen Ostervesede

25 Shell Financial and Operational Information Upstream 23 Africa highlights Shell s African production amounted to almost 0.4 million boe/d, which is around 12% of our total 2009 production; Our oil and gas exploration and production earnings after tax from subsidiaries in the region were $0.8 billion; We are participating in the development of Gbaran Ubie Phase 1 project in Nigeria and have a few additional projects in the design and study stages. Key figures 2009 % of total Total production [A] (thousand boe/d) % Oil and NGL production [A] (thousand b/d) % Natural gas production [A] (million scf/d) 455 5% Gross developed and undeveloped acreage (thousand acres) 34,489 12% Proved oil and gas reserves excluding minority interest [B] (million boe) 1,249 9% [A] Available for sale. [B] Includes proved reserves associated with future production that will be consumed in operations. Egypt Shell has been operating in Egypt since In Egypt, Shell has a 50% interest in the Badr El-Din Petroleum Company (Bapetco) joint venture with the Egyptian General Petroleum Corporation (the Egyptian national oil company). Shell also participates in offshore exploration concession in the North-west Damietta region. An exploration campaign in the latter started at end of In May 2009, we were awarded a 33.3% interest in a third offshore block, the North Damietta. The corresponding formal agreement was signed in February The block covers an area of some 1,600 km 2 of the Nile Delta basin. In December 2009, Shell acquired a 40% working interest and will be the operator of the Alam El Shawish West concession. Located in the country s Western Desert, the concession contains confirmed oil and gas discoveries. Gabon Shell discovered oil in the Gamba area of Gabon in the early 1960s. Today, we have interests in nine onshore mining concessions and exploitation permits, six of which we operate. An exploitation licence is being finalised for the Koula and Damier fields in the Awoun permit. Three non-shell-operated concessions (Avocette, Coucal and Atora) expire between 2010 and We also hold the Igoumou Marin permit in ultra-deep water and two offshore exploration and production-sharing contracts BC9 and BCD10. A strategic swap of assets with the Hess Corporation announced in 2009 (see Norway section on page 20) would increase Shell s interest in its Gabonese production licences from 42.5% to 52.5% in Rabi- Kounga, from 44.3% to 94.3% in Toucan and from 20% to 60% in Atora. Its interest in the Ozigo exploration licence would likewise increase from 44.3% to 94%. The transaction is subject to government approval and other requisite consents. Nigeria Shell has been in Nigeria longer than any other energy company. We have a long-term commitment to the country and its people. Onshore Shell Petroleum Development Company (SPDC, Shell interest 30%), the largest oil and gas joint venture in the Niger Delta, holds 30 onshore oil mining leases (OML). The leases expire in As part of the Afam Integrated Gas and Power Project, SPDC supplied gas in 2009 for the ramp-up of power output of the 640 MW Afam VI Power Plant and for fuel-gas production from the Okoloma Gas Plant. When fully operational, the project will increase Nigeria s power supply by about 20% and domestic gas supply by 20%. SPDC currently produces about two-thirds of the country s total domestic gas. The Gbaran-Ubie integrated oil and gas project (Shell interest 30%) is developing an area of approximately 650 km 2 in Bayelsa State. When fully operational, it is expected to have a peak production of 1 bcf/d of gas and 70,000 b/d of oil. As part of the project, SPDC will drill more than 30 new oil and gas wells. It is also building a central processing facility that will deliver the gas to power plants and Nigeria LNG. Security continues to be a challenge for SPDC. Its facilities were subjected to attacks in On the financing side, however, progress has been made. By the end of 2009, all requirements were met for the utilisation of the bridge loan to cover historical under-funding and for the full implementation of the Modified Carry Agreement for ongoing projects. Offshore Shell has interests in 12 offshore fields through its various companies. The Shell Nigeria Exploration and Production Company (SNEPCo, Shell interest 100%) has interests in three deep-water blocks, two of which it operates. This includes SNEPCo-operated Bonga field, Nigeria s first deep-water field. Lying 120 km offshore, it has a production capacity of more than 200,000 b/d of oil and 150 million scf/d of gas. Nigeria s first time-lapse (4D) seismic survey, acquired by SNEPCo, will maximise its oil recovery. Development of Bonga North West and other nearby fields is underway. SPDC holds interests in six shallow-water leases, five of which expired on November 30, Under the Nigerian Petroleum Act, however, SPDC is entitled to an extension. For the time being, the fields pre-expiry status is maintained by means of a court order issued on November 26, The parties involved are pursuing a negotiated resolution. In July 2009, we restarted production from the EA field in one of the disputed licence areas. The field had been shut-down since 2006 as a result of security incidents there. Nigeria Liquefied Natural Gas (NLNG) Coming on-stream in 1999, the Nigeria LNG plant (Shell interest 25.6%) was the first LNG plant in the country. It has a capacity of 21.6 mtpa LNG and 5 mtpa of natural gas liquids. SPDC is its largest gas supplier, and Shell is its largest LNG purchaser. Other Shell also has interests in Algeria, Cameroon, Ghana, Libya, Morocco, South Africa and Tunisia.

26 24 Shell Financial and Operational Information Upstream A C B A b C Nigeria and Cameroon Gabon Libya { Shell oil projects { Terminal { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities 48A: Nigeria and Cameroon Shell gas pipeline Shell oil pipeline Shell interest (land) Shell interest (sea) A LAGOS NIGERIA BIGHT OF BENIN OML 133 Bosi Erha-N Erha Escravos (SBM 3) Bobo Bonga NW OPL 322 Bonga OML 118 Bonga-SW OML 79 Gbetiokun Forcados-Yokri Odidi Forcados EJA EA WARRI Oben Nun River Kolo Creek Utorogu Gbaran Soku Biseni - Samabri Assa Zarama Ubie PORT HARCOURT OML 11 Afam Santa Barbara Nembe Creek Cawthorne Bonny Channel H A Kalaekule OPL 285 OML 72 OPL 286 Brass OPL 284 J K J W (SBM) OPL 238 OML 13 CALABAR C-18 Rio del Rey Dissoni N Lokele Dissoni C-32 MALABO CAMEROON DOUALA Ngolo Doro OML D: Libya EQUATORIAL GUINEA Zabazaba OPL 245 Etan Bolia BIGHT OF BIAFRA km 48B: Gabon B EQUATORIAL GUINEA C BENGHAZI SAO TOME AND PRINCIPE Igoumou Marin LIBREVILLE Tsiengui Koula Damier Avocette M'Boukou Coucal Toucan Rabi Port Gentil LAMBARENE GABON Ras Lanuf NC212 Brega Zueitina NC213 NC211A Area 89 NC215 NC214 NC211B BC 9 BCD 10 CONGO LIBYA NC211C Atora Totou Gamba-Ivinga MAYUMBA km km

27 Shell Financial and Operational Information Upstream 25 D E D E Algeria and Tunisia Egypt { Shell oil projects { Terminal { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities Shell gas pipeline Shell oil pipeline Shell interest (land) Shell interest (sea) D PORTUGAL SPAIN ITALY ALGIERS TUNIS GIBRALTAR MALTA Metouia MOROCCO TUNISIA Mellitah TRIPOLI ALGERIA Zerafa LIBYA MAURITANIA MALI km 55D: Egypt E La 52 Kg 45 NE Med. Sea Deep Water MEDITERRANEAN SEA NE Med. Sea Deep Water NW Damietta Obaiyed MATRUH ALEXANDRIA PORT SAID LIBYA TANTA Sitra West Sitra EGYPT NE Abu Gharadiq Badr El Din EL FAIYUM CAIRO SUEZ km

28 26 Shell Financial and Operational Information Upstream Asia (including middle east and russia) highlights Shell s production in the Asia region amounted to over 0.9 million boe/d, which is around 30% of our total 2009 production; Our oil and gas exploration and production earnings after tax from subsidiaries in the region were almost $1.0 billion. Our share of oil and gas exploration and production earnings of equity-accounted investments was $0.6 billion; We are participating in the development of ten key projects in the region: Harweel, Qarn Alam and Amal Steam in Oman, Pearl GTL and Qatargas 4 LNG in Qatar, Kashagan in Kazakhstan, Gumusut in Malaysia, Majnoon and West Qurna 1 in Iraq, and SAS in Abu Dhabi. Key figures 2009 % of total Total production [A] (thousand boe/d) % Oil and NGL production [A] (thousand b/d) % Natural gas production [A] (million scf/d) 2,069 24% Gross developed and undeveloped acreage (thousand acres) 109,351 36% Proved oil and gas reserves excluding minority interest [B] (million boe) 5,243 37% [A] Available for sale. [B] Includes proved reserves associated with future production that will be consumed in operations. Brunei Shell has been operating in Brunei since The first commercial oilfield, Seria, was discovered in Today, we are 50:50 partners with the national government in the Brunei Shell Petroleum Company Sendirian Berhad (BSP). BSP holds long-term oil and gas concession rights onshore and offshore Brunei. Its main producing fields are Champion, Ampa, Iron Duke and Fairley. BSP sells most of its natural gas production to Brunei LNG (BLNG, Shell interest 25%) the first LNG plant in the Asia-Pacific region. BLNG currently has a total capacity of 7.8 mtpa. It sells most of the LNG on long-term contracts to buyers in Japan and Korea. Shell also has a 35% interest in the Block B concession, which contains the Maharaja Lela gas field, and a 54% operating interest in exploration Block A. Two offshore field-development projects Mampak Block 4 and Bugan Phase 2 came on-stream in Shell Smart Majnoon in Iraq. Fields technologies have enabled the production platforms of these projects to be unmanned; operations are controlled remotely from the main production hub at the Champion 7 complex. China Shell began producing oil in China in 1964, from the Xijiang offshore fields (Shell interest ranges from 24.5% to 47.8%). Since 2007 we also have been operating the onshore Changbei tight gas field (Shell interest 50%). The field s development is based on dual lateral horizontal wells, whose production rates are up to 10 times greater than those of conventionally fractured vertical wells. Other Shell interests in China include the North Shilou coal-bed methane project (Shell interest 55%) and the Yueyang coal gasification plant, a 50:50 joint venture. Iraq The Iraqi Ministry of Oil awarded Shell a 20-year contract as lead contractor and operator in the development of the Majnoon oilfield. The Iraqi state owns 25% of the participating interest, Shell will hold a 45% share and Petronas will hold the remaining 30%. Shell was also awarded a 15% interest in the West Qurna 1 field, as part of an ExxonMobil-led consortium. According to the contracts provisions, Shell s equity entitlement volumes will be lower than the Shell interest implies. Majnoon, located in southern Iraq, is one of the world s largest oil fields. The current level of production is approximately 45,000 boe/d. The first phase of the development is expected to raise its production to some 175,000 boe/d by This will be achieved by expanding the existing facilities and targeting the simplest reservoir zones. There is potential to reach 1.8 million boe/d of oil and associated gas in the second half of the next decade. This much larger possible development would be subject to a separate investment decision around 2012 or later. Oil will be exported by pipelines and terminals, with assistance from Shell to expand the transportation capacity to these facilities. Shell signed a heads of agreement with the Iraqi Ministry of Oil in September 2008 which sets out the commercial principles to establish a joint venture between Shell and the South Gas Company. The South Gas Company would be the 51% majority shareholder in the joint venture, with Shell

29 Shell Financial and Operational Information Upstream 27 holding 44% and Mitsubishi Corporation holding 5%. The joint venture would gather, treat and process raw gas produced within Basrah and sell the processed natural gas (and associated products such as condensate and LPG) for use in the domestic and export markets. Work is ongoing to secure government approvals. Kazakhstan Shell has been doing business in the Caspian region for more than 100 years. We are one of the largest foreign investors in Kazakhstan today. The offshore Kashagan field (Shell interest 16.81%) is one of the largest oil discoveries made in the past 30 years. This shallow-water field covers an area of approximately 3,400 km 2. Phased development of the field will lead to peak production averaging 300,000 boe/d from Phase 1, increasing further with additional phases of development. Shell and KazMunayGas will manage production operations on behalf of the operator. We are also executing Kashagan Phase 2 front-end engineering and design. Shell and partners are also further appraising oil and gas discoveries made in previous years at Kalamkas, Aktote, Kairan and Kashagan South West. Shell is also a 55% partner in the Pearls PSA that covers an area of some 1,000 km 2 in a water depth of nine metres in the north Caspian Sea. The block contains two oil discoveries, Khazar (2007) and Auezov (2008), which are currently under appraisal. In 2009, a successful appraisal well and production test were completed at Khazar. The Caspian Pipeline Consortium (Shell interest 5.1%) exports production from west Kazakhstan to the Black Sea. The pipeline, extending 1,510 km over difficult terrain, has been operational since October In December 2009, the Caspian Pipeline Consortium shareholders approved a pipeline expansion plan. The expansion project is expected to be fully completed in early Malaysia Shell has been operating in Malaysia since We continue to be an industry leader in the region notably in the use of Smart Fields technology, which can optimise a field s production. As contractor to the national oil company PETRONAS, we produce oil and gas located offshore Sarawak and Sabah under 15 PSCs in which Shell s interests range from 30% to 80%. In Sarawak we operate 16 gas fields with a Shell interest of between 37.5% and 70%. Nearly all of the produced gas is supplied to the Malaysia LNG Dua and Tiga plants (Shell interest 15%) at Bintulu, Sarawak. The plants have a total capacity of 14.6 mtpa of LNG, which is delivered to markets in the Far East. We have a 40% interest in the Baram Delta PSC, a 50% interest in the fields of Block SK-308 and exploration interests in Block SK-307 and in the deep-water Block SK-E. In 2009, we took the final investment decision to proceed with the F28 field-development project under the SK-308 PSC. Since 1993 we also operate a GTL plant (Shell interest 72%) based on a proprietary Fischer-Tropsch catalyst. It is located adjacent to the LNG plants at Bintulu. This 14,700 b/d capacity plant converts 3 million cubic metres of natural gas per day into transport fuels and other high-quality liquid products. In Sabah we operate four producing offshore oil fields (with a 50% Shell interest in three and an 80% interest in one) and have interests in PSCs for the exploration and development of a further three offshore blocks (Shell interests ranging from 35% to 40%). In addition, Shell has a 50% interest in offshore blocks ND-6 and ND-7. We operate the unitised Gumusut field (Shell interest 33%), which is currently being developed, and the Malikai field (Shell interest 35%). Shell also has a 30% interest in the Kebabangan field held through the Kebabangan Cluster PSC and the Kebabangan Petroleum Operating Company. Oman Shell has been involved in operations in Oman since We hold a 34% interest in Petroleum Development Oman (PDO), the operator of an oil concession (expiring in 2044) covering more than 100,000 km 2. PDO has developed more than 120 oil and gas fields and drilled more than 3,700 oil and gas wells. It produces about 80% of Oman s oil and most of its natural gas. PDO has a number of pilot and commercial-scale projects based on enhanced oil recovery (EOR) technologies. Shell has established a regional EOR research and development hub in Oman. At Harweel, the first miscible gas-flood project in the global Shell portfolio aims to increase the field s recovery up to fourfold, with an expected peak production rate of 43,000 boe/d. At Qarn Alam, one of the world s largest steam-injection projects in a fractured carbonate reservoir is expected to reach peak production of 36,000 boe/d. At Marmul, polymer injection is increasing the ultimate recovery from an existing field. In 2009, we took the final investment decision to develop the Amal fields by means of steam. The fields are expected to reach a peak production of 22,000 boe/d. Amal oil is heavy, limiting the rate of production as well as the percentage of the oil that can ultimately be recovered with conventional means. The application of steam, however, will enable it to be produced more quickly and in greater volumes. Shell also participates in the development of the Mukhaizna oil field (Shell interest 17%) where horizontal steam flooding will be applied on a large scale. This field is expected to contribute significantly to the country s oil production capacity. In 2009, PDO made a notable discovery the Al Ghubar South field which lies close to the existing Al Ghubar and Qarn Alam fields. Two further oil discoveries were made at Dafiq West in the north of PDO s concession area and Anbar in the central region of the Sultanate. Shell also has a 30% interest in Oman LNG (capacity 7.1 mtpa), which supplies Far Eastern markets under long-term contracts, and an indirect interest of 11% in Qalhat LNG (capacity 3.7 mtpa). Philippines Shell holds a 45% interest in the PSC for Block SC-38, which includes a production licence for the deep-water Malampaya, Camago and San Martin fields. Current production comprises gas and condensate, which are processed via an offshore platform north-west of the island of Palawan. We also are the operator of offshore Block SC-60 (Shell interest 55%), an area north-east of Palawan.

30 28 Shell Financial and Operational Information Upstream Qatar Following approval from Qatar Petroleum, Shell made the final investment decision on the integrated Pearl GTL project in Construction began later that year. Under the agreement with the national government, Shell provides 100% of the project funding. The fully integrated project includes the production, transport and processing of some 320,000 boe/d of gas from the offshore North field. The gas will be processed in the world s largest gas-to-liquids complex to yield around 120,000 boe/d of natural gas liquids and ethane, and 140,000 b/d of clean liquid hydrocarbon products. Construction of the Pearl GTL project is scheduled to be completed by the end of 2010 with production ramp-up in The final investment decision for the Qatargas 4 LNG Project (Shell interest 30%) was made in December The project comprises the integrated development of upstream facilities to produce some 1.4 bcf/d of natural gas from the offshore North field and an onshore gas-processing facility with a single LNG train of around 7.8 mtpa capacity. The LNG will be shipped to markets in North America, China and the United Arab Emirates. The upstream facilities consist of three unmanned platforms, up to 33 wells and two undersea pipelines. Construction of the Qatargas 4 project is expected to be substantially complete by the end of 2010 with production ramp-up in Russia Shell is one of the largest foreign investors in Russia. We have a 27.5% interest in one of the world s largest integrated oil and gas export projects: Sakhalin II. The project is a significant engineering achievement in its own right, given its remoteness and the subarctic conditions in which it operates. Sakhalin II was fully completed in early 2009, enabling Russia to export its first LNG cargo in March. In the third quarter of 2009 it achieved peak production of over 400,000 boe/d and successfully ramped up production from its two LNG trains (with a combined capacity of 9.6 mtpa). Salym Petroleum Development (Shell interest 50%) is developing three oil fields in a licence area of over 2,100 km 2 in western Siberia. Full-scale production reached almost 160,000 boe/d in the second half of Syria Shell holds interests ranging from 62.5% to 66.67% in three PSCs (Deir Ez Zor, Fourth Annex and Ash Sham) that expire between 2018 and Shell s production amounted to some 23,000 boe/d in Shell is also a party to a gas-utilisation agreement for the collection, processing and sharing of natural gas from designated fields for use in Syrian power generation and other industrial plants. We also have entered into two PSCs for Blocks 13 and 15 in the south of Syria. The four-year exploration period for these blocks expires in February Seismic data have been acquired, and an exploration drilling programme is under preparation. In November 2009, Shell farmed out a 30% stake in the PSCs to Tri Ocean Energy. Shell remains the operator with 70% interest. United Arab Emirates Shell has been involved in the emirate of Abu Dhabi since Today, Shell holds a concessionary share of 9.5% in the oil and gas operations run by Abu Dhabi Company for Onshore Oil Operations (ADCO). The licence expires in In January 2009 ADCO took a final investment decision to further develop Sahil, Asab and Shah fields (SAS). We also have a 15% interest in the licence of Abu Dhabi Gas Industries Limited (GASCO), which exports the propane and butane as well as the heavier liquid hydrocarbons it extracts from the wet natural gas associated with the oil produced by ADCO. In 2009, Shell signed an agreement with Abu Dhabi National Oil Company to extend the GASCO joint venture until Rest of Asia Shell also has interests in India, Iran, Japan, Jordan, Pakistan, Saudi Arabia, Singapore, South Korea and Turkey. Pearl GTL in Qatar.

31 Shell Financial and Operational Information Upstream 29 A b A b Iran, Qatar, United Arab Emirates, Saudi Arabia and Oman Pakistan { Shell oil projects { Terminal { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities Shell gas pipeline Shell oil pipeline 54B: Pakistan Shell interest (land) Shell interest (sea) B PAKISTAN INDIA Bhit Badhra A HYDERABAD IRAQ IRAN KARACHI KUWAIT Nowrooz Soroosh km BAHRAIN North Field Ras Laffan QATAR South Pars Qatargas 4 Pearl GTL UNITED ARAB EMIRATES SAUDI ARABIA Rub Al-Khali Blocks 5 to 9 YEMEN Ruwais Bida Al Qemzan Bab Bu Hasa Huwaila Asab Shah Qusahwira Al Dabb'iya Rumaitha Sahil Kidan North - Arab Fahud Yibal Al Huwaisah Kidan South - Arab Budour NE Birba Qaharir Ghafeer Nimr Amal Marmul Qata RAYSUT ABU DHABI Harweel Dhahaban Ufuq Lekhwair Dafiq West-1 Musallim Mabrouk Barik Rahab SUHAR Natih OMAN Qarn Alam Saih Rawl Al Ghubar S Zauliyah Wafra Anbar Thayfut Simsim Amin Mukhaizna Burhaan MUSCAT SUR km

32 30 Shell Financial and Operational Information Upstream c d c d Syria Jordan { Shell oil projects { Terminal { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities Shell gas pipeline Shell oil pipeline Shell interest (land) Shell interest (sea) c SYRIA Al Kharrata Ash Shola El Isba An Nishan Thayyem-M Thayyem-R Omar North Omar Omar North East Ghawari Yimken Shahel Jazieh Sijan Jarnof Saban Rasein Azraq Mqaat Maleh Tanak North Tanak Galban BLOCK XIII (Amouria) Al Ishara East Tayyani East Jido El Ward North El Ahmar Abou Hardan Shdeha Sarhit BLOCK XV IRAQ JORDAN km d North West Oil Shale SYRIA IRAQ AMMAN Central Oil Shale ISRAEL JORDAN SAUDI ARABIA South Oil Shale EGYPT km

33 Shell Financial and Operational Information Upstream 31 e g h f e f g H Russia Salym Russia Sakhalin China Onshore China Offshore { Shell oil projects { Terminal Shell gas pipeline { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities Shell oil pipeline 56F: Russia - Sakhalin Shell interest (land) Shell interest (sea) e f OKHA Piltun/Astokhskoye RUSSIA Onshore Processing Facility (OPF) Lunskoye KHANTY-MANSIYSK NEFTEYUGANSK RUSSIA West Salym Upper Salym Vadelyp Sakhalin KHOLMSK YUZHNO-SAKHALINSK KAZAKHSTAN km 60D: China - onshore km LNG Plant Oil Export Terminal 60E: China - offshore g h CHINA HONG KONG YINCHUAN Changbei CHINA North Shilou Xijiang 24-1&3 Field XI'AN Xijiang 30-2 Field km km

34 32 Shell Financial and Operational Information Upstream i K j i j K Kazakhstan Philippines Brunei and East Malaysia 56G: Caspian { Shell oil projects { Terminal { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities Shell gas pipeline Shell oil pipeline 61G: Philippines Shell interest (land) Shell interest (sea) i j BATANGAS KAZAKHSTAN PHILIPPINES RUSSIA Kashagan SW Kalamkas More Khazar Auezov ATYRAU Arman Kashagan Kairan Aktote Malampaya San Martin SC 38 AKTAU CASPIAN SEA SAN JOSE DE BUENAVISTA GEORGIA ARMENIA AZERBAIJAN SC 60 TURKMENISTAN 61H: Brunei and East Malaysia km km k Barton South Furious D12 E6 E8 M1 Saderi Jintan Serai Fairley M4 South West Ampa M3 Fairley Baram M3S Baram Bijan Baronia SK-308 F14 G7 Beryl Cili Padi F23 B11 B12 F28 F6 Selasih Betty Bokor Shallow Clastic F13 E11 Gumusut - Kakap Magpie Mampak Miri Petai Kinabalu Maharaja Lela BLNG Seria BRUNEI Rasau Laila Pisagan Ubah Malikai Kebabangan Selangkir Champion Labuan Bugan Iron Duke BANDAR SERI BEGAWAN Saint Joseph KOTA KINABALU MALAYSIA ND6 ND7 PHILIPPINES Bintulu BINTULU INDONESIA km

35 Shell Financial and Operational Information Upstream 33 Australia/Oceania highlights Shell s production in the Australia/Oceania region amounted to 0.2 million boe/d, which is around 7% of our total 2009 production; Our oil and gas exploration and production earnings after tax from subsidiaries in the region were $0.5 billion. Our share of oil and gas exploration and production earnings of equity-accounted investments was $0.3 billion; We are participating in the development of three key projects in the region: Pluto LNG T1 (Woodside), North Rankin B and Gorgon LNG T1-3 in Australia. The technology enables gas to be processed offshore, reducing the development s costs and minimising its environmental impact. The front-end engineering and design (FEED) as well as the work for the necessary environmental approvals have started. The FEED is being undertaken as part of Shell s contract with the Technip-Samsung Heavy Industries consortium for the design, construction and installation of multiple FLNG facilities. Shell also has rights to the gas of the nearby Crux field (AC/P23) and operates the AC/P41 block (Shell interest 80%), where the Libra-1 gas discovery was made in Key figures 2009 % of total Total production [A] (thousand boe/d) 206 7% Oil and NGL production [A] (thousand b/d) 65 4% Natural gas production [A] (million scf/d) % Gross developed and undeveloped acreage (thousand acres) 85,221 28% Proved oil and gas reserves excluding minority interest [B] (million boe) 1,278 9% [A] Available for sale. [B] Includes proved reserves associated with future production that will be consumed in operations. Australia Shell started its operations in Australia in Currently we have interests in offshore production and exploration licences in the North-west Shelf (NWS) and Greater Gorgon areas of the Carnarvon Basin, as well as in the Browse Basin and Timor Sea areas. Some of these interests are held directly and some indirectly, through a 34.27% shareholding in Woodside Petroleum Ltd. Shell provides technical leadership and support for the NWS development (Shell interest 22.4%). Gas and condensate are currently produced from the North Rankin A, Goodwyn, Perseus and Angel facilities. They are piped to the expanded NWS onshore gas processing facility and LNG plant on the Burrup Peninsula. With Train 5 brought on-stream in 2008, the LNG plant has a total capacity of 16.3 mtpa. Construction continued in 2009 on the new North Rankin B platform, which is designed to recover remaining low-pressure gas from the North Rankin fields. Shell has also a 31% indirect interest in Woodside s Pluto LNG Project currently under construction. The Gorgon LNG (Shell interest 25%) project involves the development of the largest gas discoveries to date in Australia, beginning with the offshore Gorgon (Shell interest 25%), Jansz (Shell interest 25%) and Io (Shell interest 12.5%) fields. It is the single largest resource project in Australia. With a capacity of 15 mtpa, it is also the world s largest foundation LNG project. The final investment decision for the project was taken in September 2009, and construction activities on Barrow Island commenced in December Plans call for the installation of production equipment directly on the ocean floor, in water as deep as 1,300 metres. Two subsea pipelines with a combined length of 240 kilometres will carry the gas to facilities on Barrow Island. The Gorgon project will supply global gas markets to at least It is also expected to be a world leader in capturing the carbon dioxide by-product from the fields and storing it safely underground, more than two kilometres beneath Barrow Island. In 2009, Shell participated in the discoveries of the Achilles, Satyr, Yellowglen and Kentish Knock fields (Shell interest 25% except for the last, where it is 50%), all of which are found in the Greater Gorgon area. Shell also participated in the Clio-2 (Shell interest 33%) appraisal well in the same area. In the Carnarvon Basin, Shell has a 33% interest in the nearby WA-16-R permit, where in 2008 a discovery was made with the Iago-2 well. In 2009, it also was awarded a 50% interest in W08-22 licence in the deep-water Exmouth Plateau area. Shell is the operator and 100% equity holder of a permit area in the Browse Basin in which two separate gas fields were found Prelude in 2007 and Concerto in In October 2009 we announced plans to develop these fields on the basis of our innovative Floating Liquefied Natural Gas (FLNG) technology. Shell is a partner in the Browse joint venture (Shell interest approximately 25%) covering the Torosa, Brecknock and Calliance gas fields. In early 2010, the joint-venture participants agreed to begin designing the development of the Browse resources for an LNG plant at James Price Point on the Dampier Peninsula of Western Australia. In the Timor Sea Shell holds interests in the large Sunrise and Evans Shoal gas fields (Shell interests 38% and 25% respectively). Partners are evaluating two development concepts for Greater Sunrise gas, which would be delivered either to an offshore Shell FLNG plant or to the onshore Darwin LNG plant. Early in 2010 Shell and PetroChina offered to purchase Arrow Energy. On successful completion of the acquisition, a joint venture would own Arrow s Queensland coal-bed methane (CBM) assets and domestic power business. They would also own Shell s Queensland CBM assets and its site for a proposed LNG plant on Curtis Island, near Gladstone. The offer is still subject to the customary conditions, including the approvals of regulators and Arrow shareholders. The Curtis Island LNG project is based on dual liquefaction trains, and additional trains could be added given successful further appraisal. It has been granted significant project status by the Queensland government, triggering an environmental permitting process. New Zealand Shell has an 83.75% interest in the offshore Maui gas field, a 50% interest in the onshore Kapuni gas field and a 48% interest in the offshore Pohokura gas field. The produced gas is sold domestically, mainly under long-term contracts. Shell also has interests in other exploration licence areas in the Taranaki Basin.

36 34 Shell Financial and Operational Information Upstream A b A b C West Australia East Australia New Zealand { Shell oil projects { Terminal { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities Shell gas pipeline Shell oil pipeline Shell interest (land) Shell interest (sea) C a INDONESIA Greater Sunrise Evans Shoal Concerto-1 Torosa Brecknock Calliance WA-371-P Crux Libra Echuca Shoals Prelude Goodwyn Goodwyn South Dockrell Echo/Yodel Dixon Wilcox Iago Pluto Geryon Eurytion Chandon Yellowglen-1 Kentish Knock-1 Eendracht Jansz/Io Maenad Pueblo DAMPIER Perseus Gaea North Rankin Persephone Egret Hermes Cossack Angel Wanaea Tidepole BROOME DERBY AUSTRALIA Satyr-1 Clio-2 Achilles-1 EXMOUTH Lady Nora Orthrus Clio Gorgon km 59C: New Zealand b c NEW PLYMOUTH Pohokura NEW ZEALAND AUSTRALIA GLADSTONE Maui Kapuni Kogan North Daandine Tipton West BRISBANE Queensland New South Wales km km

37 Shell Financial and Operational Information Upstream 35 Americas highlights Shell s production in the Americas amounted to 0.7 million boe/d, which is around 23% of our total 2009 production; Our oil and gas exploration and production earnings after tax from subsidiaries in the region were $4 million. Our share of oil and gas exploration and production earnings of equity-accounted investments was $0.6 billion; We are participating in the development of key projects in the Americas region: Perdido and Caesar Tonga in the GoM in the USA, Expansion 1 of the Athabasca Oil Sands Project in Canada and North America tight-gas projects. Key figures 2009 % of total Total production [A] (thousand boe/d) % Oil and NGL production [A] (thousand b/d) % Natural gas production [A] (million scf/d) 1,672 20% Synthetic crude oil production [A] (thousand b/d) % Bitumen production [A] (thousand b/d) % Gross developed and undeveloped acreage (thousand acres) 53,165 18% Proved oil and gas reserves excluding minority interest [B] (million boe) 3,106 22% [A] Available for sale. [B] Includes proved reserves associated with future production that will be consumed in operations. Brazil Shell is the operator of several producing fields offshore Brazil. They include Bijupirá and Salema (Shell interest 80%) as well as three others (Shell interest 50%) that have been developed as part of the Parque das Conchas (BC-10) project. We are also the operator of two heavy-oil fields in the offshore Block BS-4 (Shell interest 40%) whose potential development concepts are being assessed. In addition, we have interests ranging from 17.5% to 100% in seven deep-water exploration blocks in the Campos, Santos and Espirito Santo basins. Shell operates two of these blocks. In 2009, production started from the Parque das Conchas project. The wellheads of the producing wells lie under some two kilometres of water. They are linked to the Espirito Santo, a floating production, storage and offloading (FPSO) vessel with a capacity to process 100,000 barrels of oil and 50 million cubic feet of natural gas a day (100% basis). Initial production is expected to be about 60,000 boe/d, leaving some headroom in the FPSO for additional production growth from improved recovery or future nearby discoveries. Also in 2009, Shell formally received exploration rights to five onshore blocks comprising over 11,000 km 2 in the São Francisco basin. In addition, Shell holds an 18% interest in Brazil Companhia de Gas de São Paulo (Comgás), a natural-gas distribution company in the state of São Paulo. Canada Shell is one of the largest integrated petroleum companies in the country. It is also one of the oldest, having started operations in Canada in We produce natural gas, natural gas liquids, bitumen (a very heavy crude oil) and extract a synthetic crude oil from mined oil sands. As a by-product of our gas and oil sands production, we also produce sulphur. Our operations are located mainly in Alberta and British Columbia, where the main leases or assets are held. In total, Shell holds over 2,100 leases. Gas and sulphur The majority of Shell s Canadian gas production comes from the Foothills region of Alberta. Shell owns and operates four natural-gas-processing and sulphurextraction plants in southern and southcentral Alberta, placing it among the world s largest producers and marketers of sulphur. In addition, we hold a 31.3% interest in the Sable Offshore Energy Project, a natural gas complex in eastern Canada, and have a non-operating 20% interest in a field in the deep-water Orphan Basin off the east coast of Newfoundland. We have a 100% interest in the Niglintgak gas field and are a joint-venture partner of the proposed Mackenzie Gas Project, which includes a 1,200 km pipeline to transport natural gas from the Mackenzie Delta to North American markets. Shell is the largest offshore leaseholder off the west coast of Canada, although the acreage remains under government moratorium. In 2009, Shell continued developing unconventional gas resources in the Alberta Deep Basin and at Groundbirch through drilling programmes and investment in infrastructure. We hold approximately 2,400 km 2 in these areas. The Groundbirch area reached 100 million scf/d production in November 2009, with plans for further growth. We also had encouraging results from exploration and appraisal drilling in the area. In addition, we are designing a well-test programme for coal-bed methane resources in a concession of some 3,200 km 2 in British Columbia. Bitumen Bitumen that is too deep for surface mining is produced in-situ, that is, by means of wells. In the Peace River area of Alberta the bitumen is recovered using cold (primary) and thermal (enhanced) technologies. In Cold Lake, Alberta, steam technology is being applied to accelerate the natural gravity drainage of the bitumen into wells. We are also evaluating the application of advanced in-situ recovery technologies to the heavy-oil resources throughout some 1,200 km 2 of the Grosmont oil-sands area in north Alberta. Oil sands and synthetic crude oil The amount of oil that can be recovered from Canada s oil sands amounts to more than 170 billion barrels a volume of recoverable oil resources second only in size to that of Saudi Arabia. Only 2% of these resources have been developed to date. Shell has operations in each of Alberta s three main oil-sands deposits. The Athabasca Oil Sands Project (AOSP) in northeast Alberta mines bitumen-saturated sand from which synthetic crude oil is produced. Operated by Shell, AOSP is a joint venture (Shell share 60%) that holds the Muskeg River Mine lease (Lease 13). The oil sand is open-pit mined, using a truck and shovel operation, then processed on site to yield a bitumen product. The product is transported by pipeline for further

38 36 Shell Financial and Operational Information Upstream processing at the Shell-operated Scotford Upgrader, located in the Edmonton area of central Alberta. The upgrading process adds hydrogen to the bitumen, breaking up the large hydrocarbon molecules. The result is a wide range of synthetic crude oils suitable as feedstock for refineries. AOSP s current bitumen production capacity is 155,000 boe/d. An expansion of AOSP, expected to be completed between 2010 and 2011, will add about 100,000 barrels of daily production capacity. Through our Quest project, we are exploring the feasibility of capturing the Scotford Upgrader s CO 2 emissions and transporting the gas by pipeline to an underground storage site. Shell also holds a number of other minable oil-sands leases in the Athabasca region with expiry dates ranging from 2010 to By completing a minimum level of development prior to their expiry, the leases may be extended. Mexico Shell has a 50% interest in an LNG regasification terminal at Altamira, on Mexico s Gulf coast, and a 75% interest in a separate marketing company that holds the capacity rights to the terminal. Shell also holds capacity rights at the Costa Azul LNG import terminal in Baja California on Mexico s west coast. USA Shell, which has been active in the USA since 1912, is a major oil and gas producer in the Gulf of Mexico (GoM). We also produce gas from onshore fields in south Texas, Wyoming and Louisiana and heavy oil and gas from onshore fields in California. Gulf of Mexico Shell has been operating in the GoM for five decades. Our operations there now provide some 60% of our US oil and gas production. We hold more than 460 federal offshore leases, about a quarter of them containing producing fields. We operate five deep-water tension-leg platforms along with a dozen other platforms with an average Shell-share production of over 270,000 boe/d in Key producing fields are Auger, Mars, Ram Powell, Ursa, Princess, Brutus, NaKika and Deimos. far south-west GoM. A floating spar was installed in 2,450 m water depth, and drilling and production platforms were placed on the spar. We set a world record for the deepest offshore well completion under 2,850 m of water at the satellite Silvertip field. Projected peak production is some 100,000 boe/d. In 2009, we acquired 42 central and eastern GoM blocks through Lease Sales 208 and 210, and in March 2010 we were the apparent high bidder on additional 20 blocks in Lease Sale 213. We also participated in three notable discoveries: Cardamom Deep (Shell interest 100%), West Boreas (Shell interest 100%) and Vito (Shell interest 55%). Offshore Alaska Shell holds over 410 federal leases in the Beaufort and Chukchi Seas but did not pursue offshore drilling or seismic programmes on them in It concentrated on obtaining permits and other preparatory work to advance more limited single-year drilling plans in The modified plans, developed in consultation with native stakeholders, were approved by the Minerals Management Service. Final permits remain to be granted before drilling can begin. Onshore Shell is using efficient multi-rig drilling methods to develop tight gas resources in low-permeability reservoirs in south Texas and at Pinedale, Wyoming. Drilling and completing several wells simultaneously reduces costs. In 2009, Shell and partners recorded their first year-round drilling operations at Pinedale, which are now allowed under revised federal environmental rules. Also in 2009, we added to our substantial acreage position in the Haynesville shale tight-gas resources of north-west Louisiana, where we had some encouraging results from exploration and appraisal drilling. Our Haynesville activities are being executed through joint operations (Shell interest 50%), with a total of approximately 25 drilling rigs in operation as of January 1, A ramp-up of operations is planned for In California, Shell has a 51.8% equity stake in Aera, which operates some 15,000 wells producing about 170,000 boe/d of heavy oil and gas. Aera accounts for around 30% of the state s production. In addition, we hold three federal leases in the Piceance Basin of north-west Colorado for which we continue to research ways to develop the area s oil-shale resources. LNG Shell holds LNG import capacity rights of 4.6 mtpa at regasification terminals in Maryland and Georgia. In 2009, construction continued on the expansion of the Elba Island terminal in Georgia, where Shell will have an additional 4.2 mtpa of capacity rights. Rest of the Americas Shell also has interests in Argentina, Colombia, French Guiana, Guyana and Venezuela. The Muskeg River Mine in Canada. In March 2010 Shell and its partners started production from the Perdido project (Shell operator; Shell interest 35.4%) in the

39 Shell Financial and Operational Information Upstream 37 A b C A b C California Washington, Wyoming, Utah and Colorado South Texas and Gulf of Mexico { Shell oil projects { Terminal { Shell gas projects { Shell oil and gas projects {[ 2009 discoveries from core exploration activities Shell gas pipeline Shell oil pipeline Shell interest (land) Shell interest (sea) 43B: Washington,Wyoming, Utah, and Colorado a Coalinga b Waterton CANADA San Ardo UNITED STATES Lost Hills Washington Montana Belridge Cymric McKittrick Midway Sunset California Oregon Idaho UNITED STATES CODY Pinedale Wyoming Ventura ROCK SPRINGS LOS ANGELES Brea- Olinda Huntington Beach California Nevada Utah Colorado km 43C: Gulf of Mexico km c UNITED STATES Haynesville Mississippi Alabama Texas Louisiana Florida Rincon N. La Copita Lyda McAllen Ranch Santa Fe Ranch Schmidt Cadre Santellana Javelina Amore HOUSTON Perdido Port Arthur Elmer Enchilada Salsa Conger Antiqua Auger Oregano Macaroni EI 163 Cougar Bullwinkle SS 76 Manatee Troika Habanero Llano Magnolia Serrano Cardamom-R MORGAN CITY Stones Europa Hickory NEW ORLEANS Angus Popeye Brutus Deimos Front Runner Glider Holstein Friesian Caesar Tonga WD 143 Cognac MP 188 Ursa North King Mensa Fairway Princess Ursa Crosby Mars Vito West Boreas Ram-Powell Tahoe Marlin Kepler (Nakika) Ariel (Nakika) NaKika Herschel Fourier Coulomb (Nakika) East Anstey (Nakika) MEXICO McAllen W McAllen Pharr Belle Ferguson McAllen S. Borosa NW Hind W GULF OF MEXICO km

40 38 Shell Financial and Operational Information Upstream Alaska D d f { Shell oil projects { Shell gas projects NovaMacKenzie, Scotia 44D: Alaska e e Alberta and British Columbia f d { Shell oil and gas projects { Terminal Shell gas pipeline Shell interest (land) [ 2009 discoveries from { core exploration activities Shell oil pipeline Shell interest (sea) 44E: Nova Scotia e BEAUFORT SEA NR03 NR05-06 CHUKCHI SEA NR06 CANADA MACKENZIE BAY NR06-07 EL-435 Kaktovik RUSSIA Inuvik Newfoundland NOME Alaska DAWSON UNITED STATES Nova Scotia CANADA HALIFAX Sable Island ANCHORAGE WHITEHORSE KODIAK 44F: Canada - Alberta and British Columbia km f km Klappan Area UNITED STATES CANADA Groundbirch (Montney) FORT ST JOHN Namur Peace River II Peace River I Ells River Peace River Grosmont Seal Jackpine Mine Muskeg River Mine Woodenhouse GRANDE PRAIRIE FORT MC MURRAY Athabasca Chipmunk British Columbia Alberta Alberta Deep Basin Marsh Anderson Scotford Refinery Upgrader & Chemical plant Orion Cold Lake EDMONTON Clearwater Limestone Panther Burnt Timber Saskatchewan Jumping Pound Caroline CALGARY UNITED STATES km Waterton

41 Shell Financial and Operational Information Upstream 39 h i g G h i Guyana Colombia and Venezuela Brazil and Argentina { Shell oil projects { Terminal { Shell gas projects {[ 2009 discoveries from { Shell oil and gas projects core exploration activities Shell gas pipeline Shell oil pipeline Shell interest (land) Shell interest (sea) g TRINIDAD AND TOBAGO h MARACAIBO MABARUMA Stabroek Urdaneta Oeste Urdaneta West PANAMA VENEZUELA GEORGETOWN VENEZUELA PARAMARIBO COLOMBIA GUYANA SURINAME FRENCH GUIANA BOGOTA BRAZIL Cano Sur (A) Cano Sur (C) Cano Sur (B) km km i BRAZIL BOLIVIA BRASILIA Macueta Cerro Tuyunti San Pedrito San Pedro PARAGUAY RIO DE JANEIRO SAO PAULO Merluza Nautilus Argonauta Ostra Abalone Salema Bijupira Atlanta Oliva ARGENTINA URUGUAY BUENOS AIRES MONTEVIDEO ,000 km

42 40 Shell Financial and Operational Information Downstream

43 Shell Financial and Operational Information Downstream 41 Downstream highlights In terms of safety performance 2009 was the best year ever in Downstream; In November 2009 the monoethylene glycol unit and in March 2010 the ethylene cracker within the Shell Eastern Petrochemicals Complex in Singapore started up successfully; Construction progressed on the 325,000 b/d expansion of the Motiva Port Arthur refinery in the USA (Shell interest 50%); Plans to exit from 15% of our world-wide refining capacity and 35% of our current retail markets, which equates to about 5% of Shell-branded retail sites around the world. Montreal East Refinery to be converted into a terminal; Non-binding memorandum of understanding to form a $12 billion joint venture with Cosan in Brazil for the production, supply, distribution and retailing of ethanol-based transport fuels. Key statistics Downstream CCS earnings ($ million) Oil products (58) 5,153 6,906 7,003 7,321 Chemicals ,682 1, Total 258 5,309 8,588 8,098 8,103 Estimated CCS adjustment ($ million) 2,796 (5,270) 3, ,659 Downstream earnings ($ million) Oil products 2, ,394 7,101 9,771 Chemicals 462 (405) 2,051 1, Total 3, ,445 8,165 10,762 Downstream cash flow from operations [A] ($ million) 5,839 1,750 13,150 9,069 14,453 Total Oil products sales (thousand b/d) 6,156 6,568 6,625 6,485 7,057 Chemicals sales volumes (thousand tonnes) 18,311 20,327 22,555 23,137 22,826 Refinery intake (thousand b/d) 3,067 3,388 3,779 3,862 3,981 Oil products refinery availability (%) Petrochemicals manufacturing plant availability (%) Downstream capital investment ($ million) 7,510 6,036 5,295 4,346 3,450 Downstream capital employed ($ million) 62,632 54,050 65,042 50,661 42,728 Downstream employees (thousands) [A] Excludes working capital movements. CCS EARNINGS $ billion 1.5 AVAILABILITY AND SALES VOLUMES % volume Q408 Oil products Chemicals Q109 Q209 Q309 Q409 Excluding identified items Q408 Q109 Q209 Refinery availability Chemicals availability Oil products sales (million b/d) Chemicals sales (million tonnes) Q309 Q409

44 42 Shell Financial and Operational Information Downstream Refining We have interests in more than 35 refining sites worldwide. Together, they are capable of processing some four million barrels of crude oil a day into a wide range of products, including gasoline, diesel, heating oil, aviation fuel, marine fuel, lubricants, liquefied petroleum gas, sulphur and bitumen. Around 40% of our refining capacity is in Europe and Africa, 30% in the Americas and 30% in Asia-Pacific. Safety is top priority in all of our businesses, including Refining. In 2009, we further improved personal and process safety at our manufacturing sites. We also continued with our site-specific sustainabledevelopment programmes, which help us act as a good neighbour. Refinery portfolio Energy efficiency improvements at our refineries and chemical plants have contributed to a reduction in our greenhouse gas emissions. Achieving even greater efficiency will help us deliver more profitability so too will greater operational reliability. The average availability of our refineries a measure of their operational excellence was 93% in A key part of our strategy is to divest non-core assets while investing in highgrowth markets, especially in the East. We aim to create a Downstream portfolio that is more focused on larger, integrated refining sites that are better able to respond to tighter fuel specifications and growth opportunities. We will continue to review our portfolio against market conditions. Key 100,000 b/d < 100,000 b/d to be converted into terminal/closed sold in April 2010 The Port Arthur refinery in Texas, part of the joint venture Motiva Enterprises (Shell interest 50%), will be our largest refinery once an expansion project there is completed. The expanded refinery, which will be one of the largest in the world, will have a total capacity of some 600,000 barrels of crude oil a day and be capable of handling most grades of crude oil, even those of the lowest quality. New technology will also lower most emissions from the refinery on a per-barrel basis. SHELL REFINING CAPACITY kb/d 5,000 4,000 3,000 2, % % REFINERY SCALE AND COMPLEXITY kb/d Nelson index , Europe and Africa Americas Asia-Pacific Average refinery size Refinery complexity

45 Shell Financial and Operational Information Downstream 43 Supply and distribution A network of some 250 distribution facilities with more than 2,500 storage tanks in around 60 countries serves to deliver feedstocks to our refineries and chemical plants as well as finished products to our Marketing businesses and customers worldwide. We move products in Europe, the USA and other parts of the world through 9,000 km of onshore and offshore pipelines. Our global fleet of around 7,000 Shell-owned or contracted trucks travels over 1.7 million kilometres every day, making a delivery somewhere in the world every seven seconds. Through various means, we have systematically reduced the cost and time of deliveries. We have adopted fuel-saving driving techniques, made larger deliveries and made the best use of vehicle availability. We also continue to look at opportunities to manage stock levels more efficiently in response to changes in market conditions. A large refinery can put as many as 30 different crudes through 25 different distillation and treatment processes to end up with a hundred or so different products. Specialised computer applications are therefore used to schedule refinery runs and to meet demand in many regions. They help us to assess the value of crude oils, maximise refinery margins, optimise transport and forecast demand, thereby balancing regional supply and demand. BUSINESS TO BUSINESs (B2B) We sell fuels and speciality products and services to a broad range of commercial customers through six separate businesses: Shell Aviation provides fuel for more than 7,000 aircraft every day at over 850 airports across some 55 countries. On average, it refuels a plane every 12 seconds. Customers range from private pilots to the largest global airlines. Louis Blériot s wood-framed plane was fueled by Shell when, in 1909, he became the first person to fly across the English Channel. Shell Aviation thus celebrated 100 years of delivering innovation to the aviation industry in Shell Marine Products provides fuels, lubricants and related technical services to the marine industry. It supplies over 100 grades of lubricants and 20 different types of fuel for vessels powered by diesel, steam-turbine and gas-turbine engines. It serves more than 15,000 customer vessels, ranging from large ocean-going tankers to small fishing boats, in more than 600 ports in 49 countries. Shell Gas (LPG) provides liquefied petroleum gas and related services to domestic, commercial and industrial customers in 29 countries for activities as diverse as transport, cooking, heating and lighting. Shell Commercial Fuels provides transport, industrial and heating fuels and related services to more than 200,000 customers in more than 40 countries. Our Commercial Road Transport business supplies road haulage and bus companies worldwide through a global network of sites and offers payment through Shell s card system. More than 500,000 fuel cards are in operation. Shell Bitumen supplies around 11,000 tonnes of bitumen products every day enough to resurface one kilometre of road every four minutes to some 1,600 customers worldwide. It is developing innovative products, such as Warm Asphalt Mix and Shell Floraphalte, which can be mixed and laid at lower temperatures, thereby reducing energy use and carbon dioxide emissions. In 2009, we have commissioned a second bitumen plant in India. Shell Sulphur Solutions develops innovative products made from sulphur, a natural by-product of oil and gas processing. Products include: Shell Thiopave, a paving material that can prolong road life; Shell Thiocrete, a highly durable, fast-setting concrete; and Shell Thiogro, a new family of fertilisers to enhance crop yield in sulphur-responsive soils. Passenger flight powered by GTL Jet fuel, UK.

46 44 Shell Financial and Operational Information Downstream Retail Our branded fuel retail network is the world s largest, with around 44,000 service stations in more than 80 countries selling more than 145 billion litres of fuel in The 2009 Shell global customer tracker survey ranked us as the preferred global brand of service station. Our experience in fuel development, over more than 100 years, underpins our position today as a leading provider of innovative fuels. Differentiated fuels with special formulations designed to clean engines and improve performance are available in more than 60 countries under the Shell V-Power brand. Our Fuel Economy formula for petrol and diesel is also available in nearly 30 countries. over 160 fully Shell-branded sites in Tianjin, Beijing, Guangdong, Chengdu and Chongqing. In November 2009, we opened our tenth service station in partnership with Shaanxi Yanchang in Shaanxi province. The Shaanxi Yanchang joint venture plans to build and operate around 100 service stations in the province. We are also strengthening our presence in certain retail markets of Europe. In Ukraine, we established a joint venture to operate a network of some 150 Shell branded retail sites and in Switzerland signed an Countries with Shell retail branded presence agreement to operate at least 120 cobranded sites. In 2009, we signed an agreement with Tesco in Hungary to rebrand their fuel stations as Shell, increasing the number of our branded stations in that country to 249. We are also present in 49 of the 50 states in the USA. [A] Based on a minimum tank size and fill up of 50 litres. Comparison between standard gasoline with and without fuel economy formula. Actual savings may vary according to vehicle, driving conditions and driving style. In 2009, we launched Shell FuelSave in five markets: The Netherlands, Turkey, Hong Kong, Malaysia and Singapore. Tests have shown that the new formula can save up to one litre of fuel per tankful [A], enabling customers to spend less on petrol and to contribute to the reduction of CO 2 emissions associated with transport. Shell s FuelSave programme also aims to inform motorists of driving techniques and car-care tips that can help them get the most out of the Shell fuel they buy. Shell has close technical partnerships with Scuderia Ferrari and Ducati Corse. Our fuel has helped Ferrari to achieve more than 150 victories on Formula One tracks and 10 World Constructors Championship titles. These relationships enable our scientists and engineers to develop cutting-edge fuel technologies for the racetrack that can then be transferred to road fuels for the benefit of our customers. As part of our strategy to refocus our global Downstream portfolio on profitability, we plan to exit 35% of our current retail markets, which contain about 5% of Shell-branded service stations around the world. Accordingly, we announced in early April 2010 that we would be reviewing ownership options for our Downstream businesses in 21 countries in Africa. GLOBAL BRAND PREFERENCE % DIFFERENTIATED FUELS GROWTH % Shell retail margin by key product category At the same time, we are actively pursuing business opportunities in developing retail markets in Asia. In the Jiangsu province of China our joint venture with Sinopec manages over 400 sites, half of which are dual-branded. Separately, we now operate 0 Shell Q Q Competitors (Majors) Source: Global Brand Tracker Main grade fuels Differentiated fuels Non-fuels products 2009

47 Shell Financial and Operational Information Downstream 45 Lubricants For the third consecutive year, we have been named the number one global lubricants supplier, selling more lubricants than any other company in the world, with around 13% share of the market in volume terms (source: Kline & Company, 2008). We make and sell a wide variety of lubricants to meet customer needs across a range of applications. These include consumer motoring, heavy-duty transport, mining, power generation and general engineering. Shell s portfolio of lubricant brands includes Pennzoil, Quaker State, Shell Helix, Shell Rotella, Shell Tellus and Shell Rimula. Shell also owns a portfolio of car-care products and Jiffy Lube services. company to build a lubricants oil blending plant in Russia. Its commercial operations are expected to begin by the end of We invest significantly in technology and work closely with our customers to develop innovative lubricants. Our focus is on developing products and services that provide both superior protection and efficiency for our clients. lubricants portfolio One of the ways we push the boundaries of lubricants technology is by working closely with top motor racing teams, such as Scuderia Ferrari. These technical partnerships enable us to expand our knowledge of lubrication science and transfer cutting-edge technology from the racetrack to our commercial products. Our lubricants are marketed in approximately 100 countries. We have leading positions in both mature and emerging markets. Shell is the top lubricants supplier in the USA the world s largest lubricants market and the top international supplier by volume in China the world s fastest-growing lubricants market. We continue to expand in the emerging markets. In November 2009, we opened our sixth lubricants oil blending plant in Zhuhai, Guangdong Province, China. With a production capacity of 200 million litres a year, and the potential for an expansion to 400 million litres a year, the complex could become one of Shell s top three lubricants oil blending plants worldwide in volume terms. We are also the first international oil Key Lubricants oil blending plants Base oil manufacturing plants Under construction GLOBAL LUBRICANTS MARKET SHARE % 13 GLOBAL LUBRICANTS DEMAND GROWTH million tonnes 45 LUBRICANTS UNIT MARGIN $/b Shell ExxonMobil BP Main grade Synthetics Main grade Synthetics Source: Kline & Company, 2008

48 46 Shell Financial and Operational Information Downstream Chemicals We produce and sell petrochemicals to 1,300 major industrial customers worldwide, with the 20 largest accounting for about 50% of our third-party sales proceeds. Shell s range of petrochemicals includes: base chemicals, such as ethylene, propylene and aromatics; first-line derivatives, such as styrene monomer, propylene oxide, solvents, detergent alcohols and ethylene oxide; and polymers, such as polytrimethylene terephthalate, polypropylene and polyethylene. These products are used to make everyday items, such as plastics, detergents, textiles, medical equipment and computers. All in all, we sold more than 18 million tonnes of bulk petrochemicals in We also produce additives for fuel and lubricants and catalysts for refinery and petrochemical markets. Shell catalysts have steadily improved the production of ethylene oxide, an important building block for synthetic fabrics, plastic bottles and anti-freeze. More efficient ethylene oxide production lowers CO 2 emissions and saves the industry hundreds of millions of dollars. Shell petrochemical alcohols have enabled the development of more concentrated household laundry detergents that clean clothes at lower temperatures. Compared with traditional powders, the new laundry detergents not only require less detergent per wash but also reduce packaging, transport costs and shelf space. Washing laundry at colder temperatures also saves energy for the consumer. Over many decades we have developed the proprietary technology, processes and catalysts that enable Shell to enjoy a powerful competitive edge in our core petrochemical markets. We will continue to focus on synergies amongst our chemical plants, refineries and Upstream businesses to increase the supply of the best available feedstock for our crackers. Our Chemicals strategy remains focused on our portfolio of crackers and selected first-line derivatives, which are sold in bulk to large industrial customers. We aim to strengthen our asset base in the Americas and Europe through operational excellence and highly targeted investments. We also intend to achieve profitable growth in Asia-Pacific and in the Middle East. In Singapore we have completed a major new petrochemical facility that improves the integration of Shell s refining and chemicals assets there. The Shell Eastern Petrochemicals Complex (SEPC), which is our largest chemicals investment to date, will help meet long-term demand growth in the East. The project, for which construction started in 2006, includes modifications and additions to the Shell Bukom refinery, a new world-scale 800,000-tonnes-a-year ethylene cracker, a 750,000-tonnes-a-year monoethylene glycol (MEG) plant and a 155,000-tonnes-a-year butadiene extraction plant. The new MEG unit started as planned, in November It is one of the largest in the world, reinforcing Shell s ambition to maintain a leading position in the growing Asian petrochemicals market. Based on advanced OMEGA technologies created by Shell, the unit will increase commercial MEG yields by up to 10%, use less water during manufacturing and virtually eliminate all by-products. The ethylene cracker complex started operations in March Chemicals Portfolio BASE CHEMICALS FIRST-LINE DERIVATIVES POLYOLEFINS/ POLYMERS [A] SOLVENTS/ PHENOL PROPANE DIOL POLYTRIMETHYLENE TEREPHTHALATE ETHYLENE OXIDE/ GLYCOLS LOWER OLEFINS HIGHER OLEFINS AND DERIVATIVES REFINERY POLYPROPYLENE AROMATICS STYRENE MONOMER/ PROPYLENE OXIDE [A] POLYETHYLENE [A] Majority through joint ventures.

49 Shell Financial and Operational Information Downstream 47 Trading Shell Trading is the business name of a global organisation that manages the risks associated with international trading in support of Shell s Upstream and Downstream businesses. It also manages a shipping fleet of more than 50 vessels for the bulk transport of crude oil, liquid petroleum gas and liquefied natural gas (LNG). Its supply portfolio includes the largest equity share of LNG of any international company. Shell Trading comprises a network of separate companies that deal in various commodities throughout the world: natural gas, electrical power, crude oil, refined products, chemical feedstocks and environmental products. The companies share knowledge and best practice as well as common systems and controls while operating out of multiple locations, including Houston, London, Dubai, Rotterdam and Singapore. The Shell Houston trading floor, USA. Two major organisational units of Shell Trading are Shell Energy Europe and Shell Energy North America. The former trades and markets gas, power and carbon dioxide throughout Europe, serving more than 7,000 customers. The latter trades and markets Shell s natural gas production from North America, benefiting from access to its own power-generation and gas-storage assets. Together with its subsidiaries, Shell Energy North America employs more than 700 professionals. Crude oil and petroleum products supply chain UPSTREAM CRUDE LOGISTICS REFINING AND CHEMICALS PRODUCTS PRIMARY DISTRIBUTION TERMINALS SECONDARY DISTRIBUTION CUSTOMERS SHELL TRADING

50 48 Shell Financial and Operational Information Alternative energy Alternative Energy Wind Shell is involved in 11 wind projects in Europe and North America with a total generating capacity of around 1,100 MW (Shell share 550 MW). Almost 900 MW of the total capacity come from some 722 wind turbines of eight wind projects in the USA that are part of a 50:50 joint venture. The biggest single one, the 264 MW Mount Storm wind project in West Virginia, USA, began operations in We are also 50:50 partners in three joint-venture wind projects in Spain, Germany and the Netherlands. All in all, they involve a total of some 170 wind turbines with an aggregate capacity of some 200 MW. INSTALLED CAPACITY MW, Shell share USA Other

51 Shell Financial and Operational Information Alternative energy 49 Biofuels Shell has a 30-year history of biofuel development and investment. Buying, trading, storing, blending and distributing biofuels are now part of our usual business. We believe we are the world s largest distributor of conventional biofuels, selling some 9 billion litres in And we are continuing to build capacity in conventional biofuels that meet our corporate and social responsibility criteria. In February 2010, Shell and Cosan signed a non-binding memorandum of understanding to form a $12 billion downstream joint venture for the production of ethanol, sugar and power as well as the supply, distribution and retail of transportation fuels in Brazil. With annual production capacity of about 2 billion litres per year and significant growth aspirations, the joint venture would be one of the world s largest ethanol producers. This deal would mark Shell s first move into the production of today s biofuels. Shell recognises the sustainability challenges associated with some biofuels. For that reason, we are working to ensure that the feedstocks and conversion processes for the biofuels we purchase today are as sustainable as possible. In 2007, we introduced environmental and social clauses into the contracts for the bio-components that we purchase for blending. And we monitor how well our suppliers adhere to those clauses. We are also working with NGOs, policy makers and industry coalitions to develop and promote robust global standards for ensuring the sustainability of biofuels production. Advanced biofuels, based on feedstocks such as crop waste or inedible plants and on new conversion processes, offer the potential for improved CO 2 reductions and improved fuel characteristics. Shell was one of the first energy companies to invest in advanced biofuels. Our technology division has a dedicated team working on biofuelrelated research at four centres in the UK, the USA, the Netherlands and India. Its efforts are complemented by agreements with experts in academic institutions across the world. Shell also has technical partnerships with leading biotechnology companies exploring new production techniques for advanced biofuels. Since 2002, Shell has been working with Iogen Corporation, a Canadian company, to develop the processing technology for the enzymatic production of ethanol from straw. The Iogen demonstration plant is currently producing 40,000 litres of advanced biofuel each month. In June 2009, the gasoline purchased at a Shell services station in Ottawa, Canada, contained 100% ethanol from the Iogen demonstration plant. Some of the ethanol has also been blended into the Shell V-Power fuel that Shell supplies to the Scuderia Ferrari racing team for the 2010 Formula One season, which began in Bahrain with a one-two finish for the team. In 2007, Shell formed joint venture company Cellana to operate a pilot facility in Hawaii to grow marine algae for the production of a vegetable oil that can then be converted into biodiesel. Algae hold great promise because they grow very rapidly, are rich in vegetable oil and can be cultivated in ponds of seawater, minimising the use of fertile land and fresh water. Biofuels CODEXIS Cooperation agreement on enzyme technology CELLANA Joint venture with HR Biopetroleum on marine algae IOGEN Cellulosic ethanol from wheat straw Key First generation distribution Technology partnerships Next-generation pilot Next-generation feedstock VIRENT Cooperation agreement on catalyst technology RESEARCH AGREEMENTS Research teams in the UK, the USA, the Netherlands and India Agreements with academic institutions in Brazil, China, USA and UK Since 2008 Shell has been working with Virent Energy Systems in the USA on a research project to convert plant sugars directly into gasoline and diesel, rather than ethanol. The collaboration could herald the availability of biofuels that can be blended in higher proportions with standard gasoline. In March 2010, Shell and Virent announced the successful start-up of the world s first biogasoline demonstration plant. The demonstration plant has the capacity to produce up to 38,000 litres of fuel per year, which will be used for engine and fleet testing. In 2009, we strengthened our partnership with the US company Codexis to develop super enzymes to convert biomass to fuel. Research is focused on adapting enzymes to improve the conversion of a range of raw materials into biofuels. Our work with Codexis will increase our knowledge of a number of non-food biofuel feedstocks, new conversion processes and alternative fuel products. FIRST GENERATION BIOFUELS Purchase, store, blend, trade and distribute biofuels World s largest distributor: 9 billion litres in 2009 Building capacity

52 50 Shell Financial and Operational Information Projects & Technology Projects & technology FOCUSING ON TECHNOLOGY It is increasingly difficult to find, develop and process hydrocarbon resources. Adding to the challenge, the demand for energy continues to grow. Shell has a proud heritage of applying novel technologies to overcome these challenges. And we have strengthened this application of technology by putting our engineers and technical staff in close contact with our front-line operations personnel. Our technology focuses on three strategic areas. Firstly, we aim to improve continually the safety, reliability, and efficiencys of our current operations. Secondly, we focus on technologies to deliver growth; ultradeepwater developments and tight gas are good examples. Thirdly, we look for technology to shape the future. In some cases, such as Canadian heavy oil, Shell has firm stakes in the ground; in others, such as the Arctic offshore, we are at earlier stages of development. Shell is committed to its partnerships with universities, technical partners, national oil companies, governments and commercial enterprises. We believe that our shareholders, partners and customers can all benefit from the joint pursuit of socially and environmentally responsible energy sources.

53 Shell Financial and Operational Information Projects & Technology 51 organisation 2009 The Projects & Technology (P&T) organisation was created in 2009 to capitalise on Shell s competitive edge in developing new technologies as well as in designing, planning and constructing oil and gas facilities. Working closely with Shell s Upstream and Downstream businesses, P&T supports the delivery of large-scale, complex projects safely, on time and on budget. P&T has been given single-point accountability for all of Shell s R&D, making it more efficient and less costly to manage. The hallmark of P&T is its capability to deliver fully integrated technical, commercial and managerial services through a combination of proprietary technology and third-party products. We also can replicate effective solutions globally in our existing assets and plants. Putting project engineering and project management under one roof allows for further standardisation of equipment and design. It also ensures that our engineers are using the same practices and simplified processes across Shell. Pillars of Projects & Technology INNOVATION AND R&D TECHNOLOGY SOLUTIONS & DEPLOYMENT PROJECT EXECUTION CONTRACTING & PROCUREMENT SAFETY & ENVIRONMENT Right technology Performance management Right concept Implementation and replication Design one build many World class performance INNOVATION AND R&D The creative talent behind Shell technologies has been unified in one P&T team: Innovation, Research and Development (IR&D). In implementing Shell s holistic technology strategy, it develops differentiating technologies whose application can be envisaged in two to twenty years time. These technologies include game changers that create future businesses for Shell. As customers today may not know what they will need in ten years, IR&D also works to assess potential wants and needs as well as how best to address them. Alongside its research centres, P&T has a number of laboratories in countries where Shell operates, including Oman, Qatar, Canada and Norway. They allow us to tap into local capabilities and develop technology where it is needed most. We also collaborate in numerous R&D projects with universities and institutes around the world. Through our research centres and collaborative projects, we are able to involve the best brains in the world to overcome the challenges of our industry. Key Technology centres External collaboration

54 52 Shell Financial and Operational Information Projects & Technology Project execution Shell s Upstream and Downstream businesses manage the stakeholder and commercial issues from project inception to routine operations and beyond. But once a new project moves into the conceptselection phase, project engineers from the P&T organisation come in. They provide the conceptual engineering as well as the worldwide contracting and procurement required to move the project forward. The key accountability for the next two phases of a project the definition of specifications and the construction rests squarely within the P&T organisation. The front-end engineering and detailed design work, the construction and the facilities start-up are all managed within P&T. Once the project has come on-stream, the accountability for operating the assets passes back to the local business. This project-execution model is not new to Shell. We successfully implemented it some years ago for our deep-water projects in the Gulf of Mexico, and we have gradually adopted it for some major projects elsewhere the Parque das Conchas (BC-10) project in Brazil as well as the Gumusut project in Malaysia, for example. But Shell is now implementing this model worldwide. Project execution accountability ASSESS SELECT DEFINE FID EXECUTE START UP OPERATE FEASIBILITY STUDY CONCEPT SELECTION PROJECT SPECIFICATIONS CONSTRUCTION RAMP-UP TO FULL CAPACITY COMMERCIAL AND STAKEHOLDER MANAGEMENT DEFINITION OF BUSINESS OPPORTUNITY PROJECT EXECUTION ASSET MANAGEMENT TECHNOLOGY SOLUTIONS, CONTRACTING & PROCUREMENT Upstream or Downstream accountability Projects & Technology accountability CONTRACTING & PROCUREMENT (C&P) The purpose of the Contracting & Procurement (C&P) organisation is to ensure that Shell s Upstream and Downstream businesses get the most value for their money when they buy materials, supplies and services. Moreover, C&P, in collaboration with our technical teams, is designed to ensure the most fit-for-purpose and cost effective use of third-party technologies. We aim to improve safety performance, reduce project and technology costs, maximise value to the business and thereby create higher profit margins for us and our partners. Every year, Shell manages a total of nearly $70 billion of expenditure on goods and services for both itself as well as its partners. Our approach to managing those supply chains is based on getting the best total cost of ownership throughout the life cycle of the assets. GLOBAL CONTRACTOR SPENDING Business GLOBAL CONTRACTOR SPENDING Category Upstream Downstream Capital projects Operating spend Support services Wells

55 Shell Financial and Operational Information Consolidated data 53 Consolidated data Our Locations EUROPE Upstream Downstream Austria Belgium Bulgaria Czech Republic Denmark Finland France Germany Gibraltar Greece Hungary Ireland Italy Luxembourg The Netherlands Norway Poland Portugal Slovakia Slovenia Spain Sweden Switzerland UK Ukraine AFRICA Upstream Downstream Algeria Benin Botswana Burkina Faso Cameroon Cape Verde Islands Côte d Ivoire Egypt Gabon Ghana Guinea Kenya Libya Madagascar Mali Mauritius Morocco Namibia Nigeria La Réunion Senegal South Africa Tanzania Togo Tunisia Uganda China Guam India Iran Iraq Jordan Pakistan Qatar Russia Singapore Syria New Zealand ASIA [A] Upstream Downstream Brunei Indonesia Japan Kazakhstan Laos Malaysia Oman Papua New Guinea Philippines Saudi Arabia South Korea Sri Lanka Taiwan Thailand Turkey United Arab Emirates Vietnam [A] Including Middle East and Russia. AUSTRALIA/Oceania Upstream Downstream Australia Costa Rica El Salvador Argentina Venezuela NORTH AMERICA Barbados Upstream Downstream Canada Dominican Republic Mexico Panama Puerto Rico Trinidad & Tobago USA SOUTH AMERICA Upstream Downstream Brazil Chile Colombia French Guiana Guyana Peru

56 54 Shell Financial and Operational Information Consolidated data Consolidated financial DATA CONSOLIDATED STATEMENT OF INCOME $ million Revenue 278, , , , ,731 Share of profit of equity-accounted investments 4,976 7,446 8,234 6,671 7,123 Interest and other income [A] 1,965 5,133 5,760 2,000 2,545 Total revenue and other income 285, , , , ,399 Purchases [B] 203, , , , ,487 Production and manufacturing expenses 25,301 25,565 23,219 19,801 16,843 Selling, distribution and administrative expenses 17,430 16,906 16,449 16,268 14,780 Research and development 1,125 1,230 1, Exploration 2,178 1,995 1,822 1,398 1,157 Depreciation, depletion and amortisation 14,458 13,656 13,180 12,615 11,981 Interest expense 542 1,181 1,108 1,149 1,067 Income before taxation 21,020 50,820 50,576 44,628 44,567 Taxation 8,302 24,344 18,650 18,317 17,999 Income from continuing operations 12,718 26,476 31,926 26,311 26,568 Income/(loss) from discontinued operations (307) Income for the period 12,718 26,476 31,926 26,311 26,261 Income attributable to minority interest Income attributable to Royal Dutch Shell plc shareholders 12,518 26,277 31,331 25,442 25,311 Estimated CCS adjustment for Downstream (2,714) 5,089 (3,767) (77) (2,580) CCS earnings 9,804 31,366 27,564 25,365 22,731 [A] Includes gains/(losses) on sale of assets. [B] Includes inventory movements. EARNINGS PER SHARE $ Basic earnings per share From continuing operations From discontinued operations (0.05) Diluted earnings per share From continuing operations From discontinued operations (0.05) Basic weighted average number of A and B shares (number of shares, millions) [A] 6, , , , ,674.2 Diluted weighted average number of class A and B shares (number of shares, millions) [A] 6, , , , ,694.4 [A] Royal Dutch Shell plc ordinary shares of 0.07 each.

57 Shell Financial and Operational Information Consolidated data 55 CONSOLIDATED BALANCE SHEET (AT DECEMBER 31) $ million Assets Non-current assets Intangible assets 5,356 5,021 5,366 4,808 4,350 Property, plant and equipment 131, , ,521 [A] 100,988 87,558 Upstream 97,208 80,302 68,493 70,534 58,534 Downstream 33,513 30,876 31,945 29,571 28,205 Corporate , Equity-accounted investments 31,175 28,327 29,153 [A] 20,740 16,905 Investments in securities 3,874 4,065 3,461 4,493 3,672 Deferred tax 4,533 3,418 3,253 2,968 2,562 Pre-paid pension costs 10,009 6,198 5,559 3,926 2,486 Other 9,158 6,764 5,760 5,468 4, , , , , ,624 Current assets Inventories 27,410 19,342 31,503 23,215 19,776 Accounts receivable 59,328 82,040 74,238 59,668 66,386 Cash and cash equivalents 9,719 15,188 9,656 9,002 11,730 96, , ,397 91,885 97,892 Total assets 292, , , , ,516 Liabilities Non-current liabilities Debt 30,862 13,772 12,363 9,713 7,578 Deferred tax 13,838 12,518 13,039 13,094 10,763 Retirement benefit obligations 5,923 5,469 6,165 6,096 5,807 Other provisions 14,048 12,570 13,658 10,355 7,385 Other 4,586 3,677 3,893 4,325 5,095 69,257 48,006 49,118 43,583 36,628 Current liabilities Debt 4,171 9,497 5,736 6,060 5,338 Accounts payable and accrued liabilities 67,161 85,091 75,697 62,556 69,013 Taxes payable 9,189 8,107 9,733 6,021 8,782 Retirement benefit obligations Other provisions 3,807 2,451 2,792 1,792 1,549 84, ,529 94,384 76,748 84,964 Total liabilities 154, , , , ,592 Equity Ordinary share capital Treasury shares (1,711) (1,867) (2,392) (3,316) (3,809) Other reserves 9,982 3,178 14,148 8,820 3,584 Retained earnings 127, , ,668 [A] 99,677 90,578 Equity attributable to Royal Dutch Shell plc shareholders 136, , , ,726 90,924 Minority interest 1,704 1,581 2,008 [A] 9,219 7,000 Total equity 138, , , ,945 97,924 Total liabilities and equity 292, , , , ,516 [A] In March 2007, Shell acquired the minority interests in Shell Canada for a cash consideration of $7.1 billion. This was reflected as a decrease in minority interest and in retained earnings of $1,639 million and $5,445 million respectively. In April 2007, Shell sold half of its interest in Sakhalin II, reducing its interest from 55% to 27.5%, for a sales price of $4.1 billion. As a result of this transaction, Sakhalin II has been accounted for as an associated company rather than as a subsidiary with effect from April The main impact on the Consolidated Balance Sheet was a decrease of $15.7 billion in property, plant and equipment and $6.7 billion in minority interest, and an increase in investments: equity-accounted investments of $3.7 billion.

58 56 Shell Financial and Operational Information Consolidated data CONSOLIDATED STATEMENT OF Cash flows [A] $ million Cash flow from operating activities: Income for the period 12,718 26,476 31,926 26,311 26,261 Adjustment for: Current taxation 9,297 24,452 20,076 17,338 19,435 Interest (income)/expense 1,247 1, Depreciation, depletion and amortisation 14,458 13,656 13,180 12,615 11,981 (Net gains)/losses on sale of assets (781) (4,071) (3,349) (571) (1,313) Decrease/(increase) in net working capital (2,331) 7,935 (6,206) (4,052) (5,664) Share of profit of equity-accounted investments (4,976) (7,446) (8,234) (6,671) (7,123) Dividends received from equity-accounted investments 4,903 9,325 6,955 5,488 6,709 Deferred taxation and other provisions (1,925) (1,030) (773) 1,833 (1,515) Other (1,879) (549) (801) (266) (47) Cash flow from operating activities (pre-tax) 30,731 69,787 53,324 52,741 49,356 Taxation paid (9,243) (25,869) (18,863) (21,045) (19,243) Cash flow from operating activities 21,488 43,918 34,461 31,696 30,113 Cash flow from investing activities: Capital expenditure (26,516) (35,065) (24,576) (22,922) (15,904) Investments in equity-accounted investments (2,955) (1,885) (1,852) (851) (705) Proceeds from sale of assets 1,325 4,737 8,566 [B] 1,611 2,310 Proceeds from sale of equity-accounted investments 1,633 2,062 1, ,313 (Additions to)/proceeds from sale of securities (105) 224 1, Interest received 384 1,012 1, Cash flow used in investing activities (26,234) (28,915) (14,570) (20,861) (8,761) Cash flow from financing activities: Net (decrease)/increase in debt with maturity period within three months (6,507) 4,161 (455) 75 (956) Other debt: New borrowings 19,742 3,555 4,565 4,263 2,130 Repayments (2,534) (2,890) (2,796) (2,232) (2,656) Interest paid (902) (1,371) (1,235) (1,296) (1,124) Change in minority interest (6,757)[B] 1,434 1,143 Net issue/(repurchase) of shares (3,573) (4,387) (8,047) (4,988) Dividends paid to: Royal Dutch Shell plc shareholders (10,526) (9,516) (9,001) (8,142) (10,556) Minority interest (191) (325) (203) (289) (293) Treasury shares: Net sales/(purchases) and dividends received Payments to former Royal Dutch shareholders (1,651) Cash flow used in financing activities (829) (9,394) (19,393) (13,741) (18,573) Currency translation differences relating to cash and cash equivalents 106 (77) (250) (Decrease)/increase in cash and cash equivalents (5,469) 5, (2,728) 2,529 Cash and cash equivalents at January 1 15,188 9,656 9,002 11,730 9,201 Cash and cash equivalents at December 31 9,719 15,188 9,656 9,002 11,730 [A] This statement reflects cash flows arising from the activities of Shell companies as measured in their own currencies, translated into dollars at quarterly average rates of exchange. Accordingly, cash flows recorded exclude both the currency translation differences which arise as a result of translating the assets and liabilities of non-dollar Shell companies to dollars at year-end rates of exchange (except for those arising on cash and cash equivalents) and non-cash investing and financing activities. [B] In March 2007, Shell acquired the minority interests in Shell Canada for a cash consideration of $7.1 billion. This was reflected as a decrease in minority interest and in retained earnings of $1,639 million and $5,445 million respectively. In April 2007, Shell sold half of its interest in Sakhalin II, reducing its interest from 55% to 27.5%, for a sales price of $4.1 billion. As a result of this transaction, Sakhalin II has been accounted for as an associated company rather than as a subsidiary with effect from April The main impact on the Consolidated Balance Sheet was a decrease of $15.7 billion in property, plant and equipment and $6.7 billion in minority interest, and an increase in investments: equity accounted investments of $3.7 billion.

59 Shell Financial and Operational Information Consolidated data 57 Additional segmental information $ million Upstream Segment earnings 8,354 26,506 18,094 17,852 15,827 Including: Exploration 2,178 1,995 1,822 1,398 1,157 Depreciation, depletion and amortisation 9,875 9,906 9,913 9,298 8,568 Share of profit of equity-accounted investments 3,852 7,521 5,446 4,593 5,117 Production and manufacturing expenses 13,958 13,763 13,122 10,577 8,170 Selling, distribution and administrative expenses 2,206 2,030 2,015 1,970 1,604 Cash flow from operations 19,935 38,681 27,363 25,473 20,927 Less: Net working capital movements 1,490 3,233 1,493 (957) (1,362) Cash flow from operations excluding net working capital movements 18,445 35,448 25,870 26,430 22,289 Capital employed 98,826 83,997 71,711 71,414 56,984 Downstream Segment CCS earnings 258 5,309 8,588 8,098 8,103 Including: Depreciation, depletion and amortisation 4,399 3,574 3,106 3,242 3,302 Share of profit of equity-accounted investments ,406 2,070 1,627 Production and manufacturing expenses 11,829 12,225 10,546 9,450 7,983 Selling, distribution and administrative expenses 14,505 14,451 13,858 13,270 12,602 Cash flow from operations 4,056 8,607 5,468 5,422 12,452 Less: Net working capital movements (1,783) 6,857 (7,682) (3,647) (2,001) Cash flow from operations excluding net working capital movements 5,839 1,750 13,150 9,069 14,453 Capital employed 62,632 54,050 65,042 50,661 42,728 Corporate Segment earnings 1,310 (69) 1, (328) Cash flow from operations (2,503) (3,370) 1, (3,266) Less: Net working capital movements (2,039) (2,155) (17) 552 (2,301) Cash flow from operations excluding net working capital movements (464) (1,215) 1, (965) Capital employed 11,710 14,088 7,314 8,643 11,128 Shell group CCS earnings 9,922 31,746 28,069 26,244 23,602 Minority interest (118) (380) (505) (879) (871) CCS earnings (after minority interest) 9,804 31,366 27,564 25,365 22,731 Cash flow from operations 21,488 43,918 34,461 31,696 30,113 Less: Net working capital movements (2,332) 7,935 (6,206) (4,052) (5,664) Cash flow from operations excluding net working capital movements 23,820 35,983 40,667 35,748 35,777 Capital employed 173, , , , ,840 FIXED ASSETS [A] (At December 31) $ million Upstream Europe 18,478 16,550 20,270 19,154 16,390 Asia-Pacific 16,307 13,094 12,775 10,898 9,472 Other 38,637 32,886 26,921 31,277 24,918 Upstream International 73,422 62,530 59,966 61,329 50,780 Upstream Americas 46,391 39,228 28,232 23,180 18,292 Downstream Oil Products 38,166 35,002 38,907 34,947 32,407 Chemicals 11,642 10,486 9,958 8,837 8,500 Corporate 2,403 2,205 2,438 2,736 2,506 Total 172, , , , ,485 [A] Comprises intangible assets, property, plant and equipment, equity-accounted investments and investments in securities.

60 58 Shell Financial and Operational Information Consolidated data Quarterly EARNINGS by BUSINESS SEGMENT $ million Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Upstream* [A] Europe 1, ,756 1,748 1,240 3,213 2,608 8,809 Asia-Pacific ,614 1,021 1,290 1,031 1,140 4,482 Other ,839 1,470 1,638 1,833 1,066 6,007 Upstream International 2,532 1,402 1,395 1,880 7,209 4,239 4,168 6,077 4,814 19,298 Upstream Americas (348) ,145 2,100 2,689 2,570 (151) 7,208 Total 2,184 2,091 1,543 2,536 8,354 6,339 6,857 8,647 4,663 26,506 * of which Integrated gas [B] , ,044 1, ,093 Downstream (CCS basis) Oil Products 1,077 (257) 1,163 (2,041) (58) 1,195 1,075 2, ,153 Chemicals [C] (74) (18) (142) 116 (19) 156 Total 1,003 (275) 1,292 (1,762) 258 1, , ,309 Corporate and minority interest Interest and investment income/(expense) (41) 328 Currency exchange gains/(losses) (46) (62) 27 (264) (351) (650) Other including taxation (17) Corporate , (43) (373) (69) Minority interest (23) (24) (47) (24) (118) (105) (89) (120) (66) (380) Total , (163) (439) (449) CCS earnings 3,297 2,340 2,990 1,177 9,804 7,776 7,902 10,903 4,785 31,366 Estimated CCS adjustment for Downstream 191 1, ,714 1,307 3,654 (2,455) (7,595) (5,089) Income attributable to Royal Dutch Shell plc shareholders 3,488 3,822 3,247 1,961 12,518 9,083 11,556 8,448 (2,810) 26,277 REPORTED QUARTERLY EARNINGS BY BUSINESS SEGMENT $ million Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Downstream Oil Products 1,381 1,161 1,356 (1,306) 2,592 2,368 4,539 (45) (6,418) 444 Chemicals [C] (182) (79) (831) (405) Total 1,199 1,264 1,543 (952) 3,054 2,716 4,696 (124) (7,249) 39 QUARTERLY IDENTIFIED ITEMS BY BUSINESS SEGMENT $ million Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Upstream* [A] Europe 233 (389) 49 (76) (183) (161) (373) 1, ,109 Asia-Pacific (256) (75) 47 (67) Other 97 (15) (33) Upstream International 395 (319) 80 (365) (209) (161) (194) 1,863 1,371 2,879 Upstream Americas (65) 204 (203) (8) Total 330 (115) (123) (226) (134) (77) (202) 2,368 1,398 3,487 * of which Integrated gas [B] 80 (6) 125 (232) (33) Downstream (CCS basis) Oil Products (186) (611) 576 (1,429) (1,650) (269) 477 (383) (175) Chemicals (19) (67) (40) 94 (32) (206) (32) (22) (260) Total (205) (678) 536 (1,335) (1,682) (475) 445 (405) (435) Corporate and minority interest Corporate 162 (17) (42) (36) 67 (96) (96) Minority interest Total 162 (17) (42) (36) 67 (96) (96) CCS earnings impact 287 (810) 371 (1,597) (1,749) (77) (677) 2, ,956 [A] Europe: Europe. Asia-Pacific: East Asia and Australia/Oceania. Other: Africa, Middle East and CIS. Americas: North and South America. [B] Integrated gas is part of the Upstream segment. It incorporates Liquefied Natural Gas, including LNG marketing and trading, and Gas to Liquids operations, as previously reported in the Gas & Power segment. In addition the associated upstream oil and gas production activities from projects, where there are integrated fiscal and ownership structures across the value chain, are also included in Integrated gas. These include the Sakhalin II and North West Shelf projects that are on stream, and Pearl, Qatargas 4, Gorgon and Pluto (Woodside) projects that are currently under construction. Power generation and coal gasification activities are also included in Integrated gas. [C] Includes losses from discontinued operations of $214 million in Q and $93 million in Q

61 Shell Financial and Operational Information Consolidated data 59 Quarterly earnings by business segment $ million Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year 1,386 1, ,952 5,819 1,771 1, ,550 5,452 1, ,594 1,245 5, ,015 3, , , , , ,129 1,450 1,163 4, ,623 3,061 2,621 2,668 4,103 12,453 3,248 3,203 2,966 3,356 12,773 2,147 1,657 4,228 2,787 10,819 1,260 1,466 1,433 1,482 5,641 1,264 1,314 1, ,079 1,289 1,105 1,309 1,305 5,008 4,321 4,087 4,101 5,585 18,094 4,512 4,517 4,528 4,295 17,852 3,436 2,762 5,537 4,092 15, , , ,295 1,478 2,929 1, ,906 1,324 2,060 2,156 1,463 7,003 1,863 2,017 1,649 1,792 7, , , ,958 3,423 1,988 1,219 8,588 1,463 2,408 2,491 1,736 8,098 2,217 2,297 1,789 1,800 8, (70) (74) (22) (73) (19) (40) (6) 126 (145) (65) 172 (1) 234 (98) (413) (3) (133) (27) (78) (241) (4) 1, (448) (113) (213) 170 (172) (328) (148) (131) (110) (116) (505) (114) (163) (337) (265) (879) (85) (199) (308) (279) (871) (120) (611) (71) (16) (585) (198) (412) (138) (451) (1,199) 6,932 7,556 6,392 6,684 27,564 6,088 6,314 6,948 6,015 25,365 5,455 4,647 7,188 5,441 22, , ,783 3, ,010 (1,006) (732) 77 1, ,844 (1,073) 2,580 7,281 8,667 6,916 8,467 31,331 6,893 7,324 5,942 5,283 25,442 6,675 5,236 9,032 4,368 25,311 REPORTED QUARTERLY EARNINGS BY BUSINESS SEGMENT $ million Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year 1,792 3,921 2,130 2,551 10,394 2,094 3,012 1, ,101 3,034 2,653 3, , , , (38) 991 2,319 4,547 2,527 3,052 12,445 2,277 3,458 1, ,165 3,483 2,912 3, ,762 QUARTERLY IDENTIFIED ITEMS BY BUSINESS SEGMENT $ million Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year (93) 19 (62) 1,317 1, (163) (24) (169) 1,883 (148) 1, (827) (443) (71) (71) (39) (92) (165) 167 (129) (163) (38) (157) 1, , (5) 157 (2) (218) , (163) (375) 1, , (75) (176) (65) (60) (91) (46) (28) (30) (83) (113) (217) (80) (184) (84) (565) (176) (95) 20 (75) 210 (80) (244) (175) (289) (400) (206) (90) 93 3 (41) (41) (46) (36) (82) (441) (247) (90) (46) 57 (79) , (232) (77) (545) 1, ,275 TAXATION $ million Current taxation 9,297 24,452 20,076 17,338 19,435 Deferred taxation (995) (108) (1,426) 979 (1,436) Total 8,302 24,344 18,650 18,317 17,999 As percentage of income before taxation 40% 48% 37% 41% 40%

62 60 Shell Financial and Operational Information Consolidated data CAPITAL EMPLOYED [A] (At December 31) $ million Upstream Europe 9,767 7,615 11,227 12,133 8,628 Asia-Pacific 13,352 10,035 9,932 8,237 6,948 Other 35,779 32,164 25,699 30,263 23,050 Upstream International 58,898 49,814 46,858 50,633 38,626 Upstream Americas 39,928 34,183 24,853 20,781 18,358 Downstream Oil Products 50,751 44,146 54,471 42,193 34,206 Chemicals 11,881 9,904 10,571 8,468 8,522 Corporate 11,710 14,088 7,314 8,643 11,128 Total 173, , , , ,840 [A] Consists of total equity, current debt and non-current debt. CAPITAL INVESTMENT $ million Capital expenditure Upstream Europe 2,484 2,690 2,670 2,600 1,899 Asia-Pacific 2,010 1,720 1,458 1,323 1,183 Other 8,415 8,719 7,777 7,611 6,968 Upstream International 12,909 13,129 11,905 11,534 10,050 Upstream Americas 8,366 15,829 6,700 7,109 2,377 Total Upstream 21,275 28,958 18,605 18,643 12,427 Downstream Oil Products 4,058 3,828 3,671 3,363 2,814 Chemicals 1,988 2,085 1, Total Downstream 6,046 5,913 5,086 4,184 3,201 Corporate Total capital expenditure 27,594 35,112 24,105 23,096 15,916 Exploration expense 1,186 1,447 1, New equity in equity-accounted investments 1,270 1,294 1, New loans to equity-accounted investments 1, Total capital investment 31,735 38,444 27,072 24,896 17,436 Comprising: Upstream* 23,951 32,166 21,362 20,281 13,698 Upstream International 14,776 15,380 13,963 12,667 10,865 Upstream Americas 9,175 16,786 7,399 7,614 2,833 Downstream 7,510 6,036 5,295 4,346 3,450 Oil Products 5,516 3,939 3,876 3,469 2,851 Chemicals 1,994 2,097 1, Corporate Total 31,735 38,444 27,072 24,896 17,436 *of which Integrated gas 6,254 7,865 6,826 6,068 4,800 DEPRECIATION, DEPLETION AND AMORTISATION $ million Upstream Europe 2,746 3,113 3,319 3,259 3,780 Asia-Pacific 1,091 1,426 1, Other 1,507 1,944 2,397 1,958 1,248 Upstream International 5,344 6,483 6,909 6,163 5,865 Upstream Americas 4,531 3,423 3,004 3,135 2,703 Downstream Oil Products 3,469 2,686 2,440 2,574 2,703 Chemicals Corporate Total 14,458 13,656 13,180 12,615 11,981

63 Shell Financial and Operational Information Consolidated data 61 FINANCIAL RATIOS Return on average capital employed Income attributable to Royal Dutch Shell plc shareholders adjusted for interest expense, less tax for the period, as % of the Shell share of average capital employed Return on sales Income attributable to Royal Dutch Shell plc shareholders plus minority interest as % of sales proceeds (including sales taxes, etc.) Return on equity Income attributable to Royal Dutch Shell plc shareholders as % of average net assets (i.e. equity attributable to Royal Dutch Shell plc shareholders and minority interest) Current ratio Current assets : current liabilities Long-term debt ratio Non-current debt as % of capital employed less current debt Total debt ratio Non-current debt plus current debt as % of capital employed Gearing ratio at December 31 Net debt as % of total capital Employees EMPLOYEES BY SEGMENT (average numbers) thousands Upstream Downstream Corporate [A] Total [A] Corporate includes employees working in shared service centres. EMPLOYEES BY GEOGRAPHICAL AREA (average numbers) thousands The Netherlands UK Other Europe Africa, Asia, Australia/Oceania USA Other Americas Total EMPLOYEES BY COUNTRY (average numbers) thousands Argentina Australia Brazil Canada China/Hong Kong France Germany India [A] [A] Malaysia Morocco The Netherlands Nigeria Norway Philippines Poland Qatar 1 1 [A] [A] [A] Russia [A] [A] Singapore South Africa Thailand UK USA As percentage of total 87% 86% 85% 82% 80% Total [A] Fewer than 500 employees. EMPLOYEE COSTS [A] $ million Remuneration 10,608 10,581 10,021 8,827 8,286 Social law taxes Retirement benefits 2,679 (302) Share-based compensation Total 14,747 11,410 11,562 10,744 10,111 [A] In addition, there were redundancy costs in 2009 of $1,535 million (2008: $85 million; 2007: $ 397 million).

64 62 Shell Financial and Operational Information Upstream data Upstream data PROVED OIL AND GAS RESERVES excluding minority interest The tables present oil and gas reserves on a net basis which means that it includes the reserves relating to (i) the Shell subsidiaries excluding the reserves attributable to minority interest holders in our subsidiaries and (ii) the Shell share of equity-accounted investments. Proven minable oil sands reserves are reported separately for As a result of SEC rule changes these proven minable oil sands reserves have been converted to synthetic crude oil proved reserves and from 2009 these are included in the proved oil and gas reserves. Moreover, from 2009 onwards bitumen proved reserves are reported separately. In previous years the bitumen proved reserves were included in the reported proved oil and gas reserves in Canada. PROVED CRUDE OIL AND NATURAL GAS LIQUIDS, SYNTHETIC CRUDE OIL AND BITUMEN RESERVES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A] (At December 31) million barrels Europe Asia 1,830 1,562 1,604 1,599 1,674 Australia/Oceania Africa North America USA North America Canada Oil and NGL Synthetic crude oil 1,599 Bitumen 57 South America Total including year-end price effects 5,677 3,435 3,763 4,035 4,479 PROVED NATURAL GAS RESERVES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][C] (At December 31) thousand million scf Europe 15,835 15,732 16,481 16,853 17,722 Asia 19,797 18,791 16,224 15,325 9,507 Australia/Oceania 6,632 3,100 2,686 2,570 2,691 Africa 3,033 1,759 1,741 2,272 2,446 North America USA 2,323 2,402 2,480 2,634 2,698 North America Canada 1,172 1, South America Total including year-end price effects 49,035 43,318 40,869 40,736 36,260 PROVEN MINABLE OIL SANDS RESERVES (At December 31) million barrels Total including year-end price effects 997 1, TOTAL PROVED OIL AND GAS RESERVES [A][B][D] (At December 31) million boe Europe 3,256 3,203 3,482 3,629 3,926 Asia 5,243 4,802 4,402 4,240 3,313 Australia/Oceania 1, Africa 1, ,163 1,297 North America USA 1,111 1,002 1,100 1,164 1,306 North America Canada 1,896 1,257 1,388 1, South America Total proved reserves attributable to Royal Dutch Shell plc shareholders including year-end price effects 14,132 11,900 11,920 11,942 11,312 Year-end price effects (183) (59) (60) [A] 2009 includes proved reserves associated with future production that will be consumed in operations. These volumes were not included in previous years. [B] Proven minable oil sands included for [C] These quantities have not been adjusted to standard heat content. [D] For this purpose, natural gas has been converted to barrels of oil equivalent using a factor of 5,800 scf per barrel.

65 Shell Financial and Operational Information Upstream data 63 PROVED OIL AND GAS RESERVES changes The tables present changes in the reserves of (i) Shell subsidiaries without deduction of the reserves attributable to minority interest holders in our subsidiaries and (ii) the Shell share of equity-accounted investments. Changes in proven minable oil sands reserves are reported separately for As a result of SEC rule changes these proven minable oil sands reserves have been converted to synthetic crude oil proved reserves and from 2009 these are included in the proved oil and gas reserves. PROVED CRUDE OIL AND NATURAL GAS LIQUIDS, SYNTHETIC CRUDE OIL AND BITUMEN RESERVES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A] (At December 31) million barrels Revisions and reclassifications 1,205 [B] (55) 92 Improved recovery Extensions and discoveries Purchases of minerals in place Sales of minerals in place (1) (65) (206) (39) (15) Total additions including year-end price effects 1, Production (616) (619) (663) (711) (729) PROVED NATURAL GAS FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][C] (At December 31) thousand million scf Revisions and reclassifications 4,688 4,184 1,388 (156) (612) Improved recovery Extensions and discoveries 4, ,636 7,651 2,577 Purchases of minerals in place Sales of minerals in place (19) (5,275) (29) (21) Total additions including year-end price effects 9,031 5,581 (249) 7,581 2,081 Production (3,315) (3,137) (2,998) (3,055) (3,032) MINABLE OIL SANDS (At December 31) million barrels Revisions and reclassifications (85) 6 (19) 166 Extensions and discoveries 437 Total additions including year-end price effects (85) Production (29) (29) (30) (35) TOTAL PROVED OIL AND GAS RESERVES CHANGES [A][D][E] (At December 31) million boe Revisions and reclassifications 2,014 [B] (101) 153 Improved recovery Extensions and discoveries 1, , Purchases of minerals in place Sales of minerals in place (1) (68) (1,115) (44) (19) Total additions including year-end price effects 3,420 1, ,997 1,002 Year-end price effects (183) (59) (60) Total additions excluding year-end price effects 3,160 1, ,056 1,062 Production (1,187) (1,189) (1,210) (1,268) (1,287) [A] 2009 includes proved reserves associated with volumes consumed in operations. These volumes were not included in previous years. [B] Excludes the 997 million bbls of previously booked proven minable oil sands reserves. [C] These quantities have not been adjusted to standard heat content. [D] Proven minable oil sands included for [E] For this purpose, natural gas has been converted to boe using a factor of 5,800 scf per barrel.

66 64 Shell Financial and Operational Information Upstream data proved oil and gas reserves changes by region 2009 The tables present changes in the reserves of (i) Shell subsidiaries without deduction of the reserves attributable to minority interest holders in our subsidiaries and (ii) the Shell share of equity-accounted investments. As a result of SEC rule changes these proven minable oil sands reserves have been converted to synthetic crude oil proved reserves and from 2009 these are included in the proved oil and gas reserves. Moreover, from 2009 onwards bitumen proved reserves are reported separately. PROVED CRUDE OIL AND NATURAL GAS LIQUIDS, SYNTHETIC CRUDE OIL AND BITUMEN RESERVES FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A] (At December 31) Europe Oil and NGL Asia Oil and NGL Australia/ Oceania Oil and NGL Africa Oil and NGL USA Oil and NGL Oil and NGL Synthetic crude oil North America Canada Bitumen million barrels South America Oil and NGL Total All products Revisions and reclassifications [B] ,205 Improved recovery Extensions and discoveries Purchases of minerals in place Sales of minerals in place (1) (1) Total additions including year-end price effects ,863 Production (116) (216) (24) (104) (100) (7) (31) (7) (11) (616) NATURAL GAS FOR SHELL SUBSIDIARIES AND EQUITY-ACCOUNTED INVESTMENTS [A][C] Europe Asia Australia/ Oceania Africa USA North America South Canada America thousand million scf Revisions and reclassifications 1,345 1, (4) (36) 4,688 Improved recovery 1 1 Extensions and discoveries , ,326 Purchases of minerals in place Sales of minerals in place Total additions including year-end price effects 1,404 1,858 3,852 1, (28) 9,031 Production (1,301) (858) (320) (181) (408) (215) (32) (3,315) Total TOTAL PROVED RESERVES CHANGES [A][D] million boe Australia/ North America South Europe Asia Oceania Africa USA Canada America Total Oil, NGL and gas Oil, NGL and gas Oil, NGL and gas Oil, NGL and gas Oil, NGL and gas Oil, NGL and gas Synthetic crude oil Bitumen Oil, NGL and gas All products Revisions and reclassifications [B] ,014 Improved recovery Extensions and discoveries ,362 Purchases of minerals in place 3 3 Sales of minerals in place (1) (1) Total additions including year-end price effects ,420 Year-end price effect 260 Production (341) (363) (80) (136) (169) (44) (31) (7) (16) (1,187) Reserves replacement ratio excluding acquisitions and divestments and year-end price effects 266% Reserves replacement ratio excluding acquisitions and divestments, including year-end price effects 288% Reserves replacement ratio including acquisitions and divestments and year-end price effects 288% [A] Includes proved reserves associated with volumes consumed in operations. These volumes were not included in previous years. [B] Excludes the 997 million of previously booked proven minable oil sands. [C] These quantities have not been adjusted to standard heat content. [D] For this purpose, natural gas has been converted to barrels of oil equivalent using a factor of 5,800 scf per barrel.

67 Shell Financial and Operational Information Upstream data 65 Oil, Gas, synthetic crude oil and bitumen Production OIL PRODUCTION available for sale [A] thousand b/d SUBS EAI SUBS EAI SUBS EAI SUBS EAI SUBS EAI Europe UK Denmark Norway Italy The Netherlands Germany Total Europe Asia Oman United Arab Emirates Russia Brunei Malaysia Syria China Iran Philippines Others Total Asia Australia/Oceania Australia New Zealand Total Australia/Oceania Africa Nigeria Gabon Cameroon Egypt Total Africa North America USA Canada 20 46[B] 47[B] 38[B] 39[B] Total North America South America Brazil Others Total South America Total oil production 1, , , , , [A] Includes natural gas liquids. Royalty purchases are excluded. In those countries where PSCs operate, the figures shown represent the entitlement of the subsidiaries concerned under those contracts. [B] Includes bitumen production.

68 66 Shell Financial and Operational Information Upstream data NATURAL GAS PRODUCTION AVAILABLE FOR SALE [A] million scf/d SUBS EAI SUBS EAI SUBS EAI SUBS EAI SUBS EAI Europe The Netherlands 1,639 1,741 1,518 1,525 1,562 Norway UK Denmark Germany Italy Austria Total Europe 1,831 1,639 1,938 1,741 1,813 1,537 1,975 1,548 2,086 1,573 Asia Malaysia Brunei China Russia 192 Philippines Syria Others Total Asia 1, , , , , Australia/Oceania Australia New Zealand Total Australia/Oceania Africa Nigeria Egypt Total Africa North America USA 1, , , , ,146 4 Canada Total North America 1, , , , ,559 4 South America Brazil Others Total South America Total gas production 5,957 2,526 6,109 2,460 5,962 2,252 6,101 2,267 5,995 2,268 [A] In those countries where PSCs operate, the figures shown represent the entitlement of the subsidiaries concerned under those contracts.

69 Shell Financial and Operational Information Upstream data 67 Total PRODUCTION available for sale [A][B] thousand boe/d SUBS EAI SUBS EAI SUBS EAI SUBS EAI SUBS EAI Europe UK Denmark Norway Italy The Netherlands Germany Austria Total Europe Asia Oman United Arab Emirates Russia Brunei Malaysia Syria China Iran Philippines Others Total Asia Australia/Oceania Australia New Zealand Total Australia/Oceania Africa Nigeria Gabon Cameroon Egypt Total Africa North America USA Canada [B] 116[B] Total North America South America Brazil Others Total South America Total oil and gas production 2, , , , , Synthetic oil production 80 Bitumen production 19 Mined oil sands production Grand total 2, , , , , [A] 5,800 million scf of natural gas is equal to one million boe. [B] Includes natural gas liquids. Royalty purchases are excluded. In those countries where PSCs operate, the figures shown represent the entitlement of the subsidiaries concerned under those contracts.

70 68 Shell Financial and Operational Information Upstream data acreage and wells OIL AND GAS ACREAGE [A][B][C] (At December 31) thousand acres Developed Undeveloped Developed Undeveloped Gross Net Gross Net Gross Net Gross Net Europe 9,045 2,592 9,770 3,653 9,646 2,785 8,924 3,038 Asia 30,969 11,108 78,382 40,547 31,252 11,260 74,749 36,811 Australia/Oceania 2, ,945 24,326 2, ,548 23,052 Africa 7,393 2,615 27,096 18,656 7,314 2,582 26,959 20,289 North America USA 1, ,250 5,027 1, ,238 4,973 North America Canada ,712 19,448 1, ,792 19,546 South America ,081 7, ,387 1,877 Total 51,805 18, , ,835 52,507 18, , ,586 NUMBER OF PRODUCTIVE WELLS [A][B] (At December 31) Oil Gas Oil Gas Gross Net Gross Net Gross Net Gross Net Europe 1, , , , Asia 6,751 2, ,043 2, Australia/Oceania Africa 1, , North America USA 15,425 7,835 1,640 1,170 15,505 7,828 1,412 1,037 North America Canada South America Total 25,427 11,343 4,795 2,608 24,819 11,111 4,233 2,351 NUMBER OF NET PRODUCTIVE WELLS AND DRY HOLES DRILLED [A] (At December 31) Productive Dry Productive Dry Exploratory Europe Asia Australia/Oceania Africa North America USA North America Canada South America Total Development Europe Asia Australia/Oceania 27 3 Africa North America USA North America Canada South America 5 2 Total [A] Including equity-accounted investments. [B] The term gross relates to the total activity in which Shell subsidiaries and equity-accounted investments have an interest, and the term net relates to the sum of the fractional interests owned by Shell subsidiaries plus the Shell share of equity-accounted investments fractional interest. [C] One thousand acres equals approximately 4 km 2.

71 Shell Financial and Operational Information Upstream data 69 OIL AND GAS ACREAGE [A][B][C] (At December 31) thousand acres Developed Undeveloped Developed Undeveloped Developed Undeveloped Gross Net Gross Net Gross Net Gross Net Gross Net Gross Net Europe 10,253 2,894 10,384 3,007 9,850 3,225 12,860 4,025 9,852 3,110 14,507 4,415 Asia 32,677 11,971 76,890 32,269 37,657 12,765 73,162 29,938 37,658 12,849 74,767 30,880 Australia/Oceania 2, ,560 20,791 1, ,718 26,000 1, ,705 25,337 Africa 7,568 2,709 38,203 24,079 7,577 2,722 35,516 24,024 7,583 2,775 38,402 23,511 North America USA 1, ,825 3,542 1, ,962 3,280 1, ,359 3,069 North America Canada ,409 19, ,725 19, ,191 18,965 South America ,387 1, ,688 1, ,906 1,349 Total 54,495 19, , ,765 58,654 20, , ,595 58,566 20, , ,526 NUMBER OF PRODUCTIVE WELLS [A][B] (At December 31) Oil Gas Oil Gas Oil Gas Gross Net Gross Net Gross Net Gross Net Gross Net Gross Net Europe 1, , , , , , Asia 5,652 1, ,381 1, ,155 1, Australia/Oceania Africa 1, , North America USA 15,493 7,825 1, ,977 8,077 1, ,159 8, North America Canada South America Total 24,269 10,871 3,090 1,651 24,352 11,033 3,231 1,707 24,481 11,050 2,876 1,520 NUMBER OF NET PRODUCTIVE WELLS AND DRY HOLES DRILLED [A] (At December 31) Productive Dry Productive Dry Productive Dry Exploratory Europe Asia Australia/Oceania Africa North America USA North America Canada South America Total Development Europe Asia Australia/Oceania Africa North America USA North America Canada South America Total [A] Including equity-accounted investments. [B] The term gross relates to the total activity in which Shell subsidiaries and equity-accounted investments have an interest, and the term net relates to the sum of the fractional interests owned by Shell subsidiaries plus the Shell share of equity-accounted investments fractional interest. [C] One thousand acres equals approximately 4 km 2.

72 70 Shell Financial and Operational Information Upstream data Upstream Earnings 2009 $ million Upstream Upstream Europe Asia-Pacific [A] Other [B] International Americas Total Revenue (third party and inter-segment) 20,403 6,617 15,316 42,336 12,804 55,140 Share of profit of equity-accounted investments 1, , ,852 Interest and other income Total revenue and other income 21,963 7,736 16,381 46,080 13,564 59,644 Purchases 7,341 1,187 1,500 10,028 1,618 11,646 Production and manufacturing expenses 3,229 1,705 3,548 8,482 5,414 13,896 Taxes other than income tax , ,268 Selling, distribution and administrative expenses 1, , ,206 Research and development Exploration , ,178 Depreciation, depletion and amortisation 2,745 1,091 1,508 5,344 4,531 9,875 Interest expense Earnings before taxation 5,745 3,068 8,482 17, ,296 Taxation 2, ,643 10,086 (1,144) 8,942 Earnings after taxation 2,756 2,614 1,839 7,209 1,145 8,354 Cash flow from operations 4,724 3,723 4,412 12,859 7,076 19,935 Less: Net working capital movements 894 (84) (372) 438 1,052 1,490 Cash flow from operations excluding net working capital movements 3,830 3,807 4,784 12,421 6,024 18, $ million Upstream Upstream Europe Asia-Pacific [A] Other [B] International Americas Total Revenue (third party and inter-segment) 28,979 10,050 25,233 64,262 24,046 88,308 Share of profit of equity-accounted investments 2,582 1,433 2,065 6,080 1,441 7,521 Interest and other income 2, , ,124 Total revenue and other income 33,865 12,173 27,744 73,782 26,171 99,953 Purchases 7,164 2,553 1,910 11,627 5,231 16,858 Production and manufacturing expenses 3,131 1,494 3,465 8,090 5,572 13,662 Taxes other than income tax , ,471 Selling, distribution and administrative expenses 1, , ,030 Research and development Exploration ,006 1,995 Depreciation, depletion and amortisation 3,114 1,426 1,943 6,483 3,423 9,906 Interest expense Earnings before taxation 17,278 5,497 18,998 41,773 9,896 51,669 Taxation 8,469 1,015 12,991 22,475 2,688 25,163 Earnings after taxation 8,809 4,482 6,007 19,298 7,208 26,506 Cash flow from operations 12,885 5,644 9,977 28,506 10,175 38,681 Less: Net working capital movements 1, ,737 3,517 (284) 3,233 Cash flow from operations excluding net working capital movements 11,419 5,330 8,240 24,989 10,459 35,448 [A] Asia-Pacific: East Asia and Australia/Oceania. [B] Other: Africa, Middle East and CIS.

73 Shell Financial and Operational Information Upstream data $ million Upstream Upstream Europe Asia-Pacific [A] Other [B] International Americas Total Revenue (third party and inter-segment) 21,080 6,807 20,111 47,998 19,280 67,278 Share of profit of equity-accounted investments 1, ,612 4,276 1,170 5,446 Interest and other income 1, , ,038 Total revenue and other income 24,662 8,103 21,742 54,507 21,255 75,762 Purchases 4,725 1,333 1,831 7,889 4,059 11,948 Production and manufacturing expenses 3, ,301 8,555 4,493 13,048 Taxes other than income tax , ,878 Selling, distribution and administrative expenses 1, , ,015 Research and development Exploration ,822 Depreciation, depletion and amortisation 3,319 1,193 2,397 6,909 3,004 9,913 Interest expense Earnings before taxation 10,801 3,720 11,855 26,376 7,425 33,801 Taxation 4, ,298 13,923 1,784 15,707 Earnings after taxation 5,819 3,077 3,557 12,453 5,641 18,094 Cash flow from operations 6,394 4,105 7,287 17,786 9,577 27,363 Less: Net working capital movements (174) (110) 63 (221) 1,714 1,493 Cash flow from operations excluding net working capital movements 6,568 4,215 7,224 18,007 7,863 25, $ million Upstream Upstream Europe Asia-Pacific [A] Other [B] International Americas Total Revenue (third party and inter-segment) 23,367 5,539 18,515 47,421 18,195 65,616 Share of profit of equity-accounted investments 1, ,174 3, ,593 Interest and other income Total revenue and other income 24,973 6,627 19,705 51,305 19,383 70,688 Purchases 4, ,127 6,180 3,522 9,702 Production and manufacturing expenses 2, ,993 6,623 3,883 10,506 Taxes other than income tax , ,640 Selling, distribution and administrative expenses 1, , ,970 Research and development Exploration ,398 Depreciation, depletion and amortisation 3, ,957 6,163 3,135 9,298 Interest expense Earnings before taxation 11,981 3,771 12,347 28,099 7,007 35,106 Taxation 6, ,932 15,326 1,928 17,254 Earnings after taxation 5,452 2,906 4,415 12,773 5,079 17,852 Cash flow from operations 6,513 3,956 5,937 16,406 9,067 25,473 Less: Net working capital movements (1,457) (145) 68 (1,534) 577 (957) Cash flow from operations excluding net working capital movements 7,970 4,101 5,869 17,940 8,490 26, $ million Upstream Upstream Europe Asia-Pacific [A] Other [B] International Americas Total Revenue (third party and inter-segment) 21,550 4,026 16,197 41,773 18,812 60,585 Share of profit of equity-accounted investments 2, , ,117 Interest and other income Total revenue and other income 24,818 4,983 16,966 46,767 19,817 66,584 Purchases 7, ,535 5,154 13,689 Production and manufacturing expenses 2, ,047 4,700 3,392 8,092 Taxes other than income tax ,362 1, ,018 Selling, distribution and administrative expenses , ,604 Research and development Exploration ,157 Depreciation, depletion and amortisation 3, ,249 5,865 2,703 8,568 Interest expense Earnings before taxation 9,494 3,021 11,140 23,655 7,062 30,717 Taxation 3, ,517 12,836 2,054 14,890 Earnings after taxation 5,693 2,503 2,623 10,819 5,008 15,827 Cash flow from operations 7,237 3,367 4,228 14,832 6,095 20,927 Less: Net working capital movements (326) 1,413 (2,775) (1,362) Cash flow from operations excluding net working capital movements 6,448 2,417 4,554 13,419 8,870 22,289

74 72 Shell Financial and Operational Information Upstream data Oil and GAS exploration and production activities earnings Shell subsidiaries 2009 $ MILLION Australia/ North America South Europe Asia Oceania Africa USA Canada [B] America Total Revenue: Third parties 2,945 2,449 1,001 1,613 3, ,530 Sales between businesses 8,271 8, ,524 2,774 3, ,436 Total 11,216 10,619 1,878 7,137 5,829 3, ,966 Production costs excluding taxes 2,729 1, ,285 1,666 1, ,117 Taxes other than income tax [A] ,268 Exploration expense ,178 Depreciation, depletion and amortisation 2, ,233 2,440 1, ,770 Other income/(costs) (1,064) (2,458) (463) (444) (653) (1,075) (72) (6,229) Earnings before taxation 4,098 5, , (1,532) (25) 12,404 Taxation 2,886 4, ,370 (458) (572) (126) 8,913 Earnings after taxation 1, (960) 101 3,491 $/boe Revenue Production costs excluding taxes Taxes other than income tax [A] Exploration expense Depreciation, depletion and amortisation Other income/(costs) (4.64) (12.95) (9.50) (3.37) (4.74) (14.00) (5.06) (7.52) Earnings before taxation (19.95) (1.76) Taxation (3.33) (7.45) (8.86) Earnings after taxation (12.50) [A] Includes cash paid royalties to governments outside North America. [B] Includes synthetic crude oil activities of earnings after taxation of $249 million $ MILLION Australia/ North America South Europe Asia Oceania Africa USA Canada America Total Revenue: Third parties 6,210 3, ,104 5,219 1, ,077 Sales between businesses 13,771 13,001 1,440 8,429 5,235 1, ,820 Total 19,981 16,765 1,610 11,533 10,454 2, ,897 Production costs excluding taxes 2,383 1, ,207 1, ,283 Taxes other than income tax [A] ,471 Exploration expense ,995 Depreciation, depletion and amortisation 3,102 1, ,595 2, ,336 Other income/(costs) (440) (2,107) 8 (20) (76) (330) (41) (3,006) Earnings before taxation 13,141 11, ,529 6, ,806 Taxation 8,391 9, ,505 2, ,541 Earnings after taxation 4,750 2, ,024 4, ,265 $/boe Revenue Production costs excluding taxes Taxes other than income tax [A] Exploration expense Depreciation, depletion and amortisation Other income/(costs) (1.70) (11.17) 0.17 (0.11) (0.57) (7.77) (2.75) (3.54) Earnings before taxation Taxation Earnings after taxation [A] Includes cash paid royalties to governments outside North America.

75 Shell Financial and Operational Information Upstream data $ MILLION Australia/ North America South Europe Asia Oceania Africa USA Canada America Total Revenue: Third parties 3,750 2, ,108 3,099 1, ,658 Sales between businesses 11,654 9,097 1,352 8,955 5,765 1, ,345 Total 15,404 12,058 1,578 10,063 8,864 2, ,003 Production costs excluding taxes 2,433 1, ,312 1, ,244 Taxes other than income tax [A] ,878 Exploration expense ,822 Depreciation, depletion and amortisation 3, ,168 2, ,432 Other income/(costs) 107 (1,529) 90 (1,670) (398) (708) (44) (4,152) Earnings before taxation 9,188 7, ,739 4, ,475 Taxation 4,961 6, ,332 1,488 (66) 19 15,372 Earnings after taxation 4,227 1, ,407 2, ,103 $/boe Revenue Production costs excluding taxes Taxes other than income tax [A] Exploration expense Depreciation, depletion and amortisation Other income/(costs) 0.42 (8.38) 1.82 (9.70) (2.53) (16.68) (3.09) (4.70) Earnings before taxation Taxation (1.56) Earnings after taxation [A] Includes cash paid royalties to governments outside North America $ MILLION Australia/ North America South Europe Asia Oceania Africa USA Canada America Total Revenue: Third parties 5,937 3, ,339 1, ,788 Sales between businesses 11,287 8,305 1,065 7,393 6, ,704 Total 17,224 12,105 1,323 8,280 8,605 1, ,492 Production costs excluding taxes 2,291 1, , ,504 Taxes other than income tax [A] ,639 Exploration expense ,398 Depreciation, depletion and amortisation 3, ,705 1, ,165 Other income/(costs) (781) (1,128) (249) (199) (649) (388) (106) (3,500) Earnings before taxation 10,095 8, ,364 4, (82) 28,286 Taxation 6,381 6, ,248 1, (27) 16,817 Earnings after taxation 3,714 2, ,116 2, (55) 11,469 $/boe Revenue Production costs excluding taxes Taxes other than income tax [A] Exploration expense Depreciation, depletion and amortisation Other income/(costs) (2.57) (5.58) (4.90) (1.17) (4.13) (9.56) (4.58) (3.70) Earnings before taxation (3.54) Taxation (1.17) Earnings after taxation (2.37) [A] Includes cash paid royalties to governments outside North America.

76 74 Shell Financial and Operational Information Upstream data 2005 $ MILLION Australia/ North America South Europe Asia Oceania Africa USA Canada America Total Revenue: Third parties 3,399 2, ,850 1, ,936 Sales between businesses 9,869 6, ,503 5, ,579 Total 13,268 9,786 1,019 7,728 7,900 2, ,515 Production costs excluding taxes 1,968 1, ,330 Taxes other than income tax [A] ,019 Exploration expense ,158 Depreciation, depletion and amortisation 3, ,381 Other income/(costs) (413) (480) (28) 84 (346) (574) 118 (1,639) Earnings before taxation 6,509 7, ,580 4, ,988 Taxation 3,767 5, ,728 1, (41) 14,523 Earnings after taxation 2,742 2, , ,465 $/boe Revenue Production costs excluding taxes Taxes other than income tax [A] Exploration expense Depreciation, depletion and amortisation Other income/(costs) (1.28) (2.40) (0.55) 0.47 (2.19) (14.27) 5.79 (1.67) Earnings before taxation Taxation (2.01) Earnings after taxation [A] Includes cash paid royalties to governments outside North America. Shell share of equity-accounted investments $ million Australia/ North America South 2009 Europe Asia Oceania [B] Africa USA Canada America Total Third party revenue 4,965 4,962 1,053 1, ,785 Production costs excluding taxes ,821 Taxes other than income tax [A] 2,201 1, ,731 Exploration expense Depreciation, depletion and amortisation ,148 Other income/(costs) 332 (76) (36) 592 Earnings before taxation 2,449 1, ,204 (192) 5,445 Taxation ,537 Earnings after taxation 1, (203) 2, , , , , , , , , ,112 [A] Includes cash paid royalties to governments outside North America. [B] Shell owns 34.27% of Woodside Petroleum Ltd, a publicly listed company on the Australian stock exchange. We have limited access to data; accordingly the numbers are estimated. oil sands OIL SANDS UNIT OPERATING COSTS $/b Mining and upgrader cash operating costs [A] Depreciation, depletion and amortisation costs Total unit costs [A] Unit cash operating cost defined as: operating, selling and general expenses plus cash costs items included in cost of goods sold excluding pre-development and centrally allocated costs divided by synthetic crude sales volumes excluding blend stock.

77 Shell Financial and Operational Information Upstream data 75 LNG and GTL LNG REGASIFICATION TERMINAL CAPACITY (At December 31, 2009) Project name Location Shell capacity rights (mtpa) Capacity right period Status Start-up date Huelva Huelva, Spain 0.3[A] In operation 1988 Barcelona Barcelona, Spain 0.9[A] In operation 1969 Hazira Gujarat, India 2.2 from 2005 In operation 2005 Altamira Altamira, Mexico 3.3 from 2006 In operation 2006 Cove Point Lusby, MD, USA In operation 2003 Costa Azul Baja California, Mexico In operation 2008 Elba Island [B] Elba Island, GA, USA In operation 2006 Elba Expansion Elba Island, GA, USA In construction 2010 [A] Capacity rights as at end 2009, which will change over capacity right period. [B] Capacity leased to third party until LNG GAS CARRIERS [A] (At December 31) number of ships thousand mscm Contract Owned/demise-hire (LNG) 5 5 6[B] Time-charter (LNG)[C] Total ,084 1,233 1,646 1, [A] Excludes LNG ships owned or chartered by LNG joint ventures. [B] One of these ships with a capacity of 139,000 mscm was sold in [C] Three of these ships were on flexible charter based on market demand. SHELL SHARE OF LNG SALES VOLUME million tonnes Australia Brunei Malaysia Nigeria Oman Sakhalin 1.4 Total GTL PLANTS (At December 31, 2009) Location Shell interest (%) 100% capacity (b/d) Status Malaysia Bintulu 72 14,700 In operation Pearl Train 1 Qatar ,000 In construction Pearl Train 2 Qatar ,000 In construction SHELL INTEREST, DIRECT AND INDIRECT, IN LIQUEFACTION PLANT CAPACITY (At December 31, 2009) Shell interest, direct 100% capacity Location and indirect (%) (mtpa)[a] Australia North West Shelf Karratha Brunei LNG Lumut Malaysia LNG (Dua and Tiga) Bintulu [B] Nigeria LNG Bonny Oman LNG Sur Oman (Qalhat) Sur Sakhalin II Train 1 and 2 Sakhalin [A] As reported by the joint venture partner. [B] Our interests in Dua and Tiga plants are due to expire in 2015 and 2023 respectively. CAPACITY UNDER CONSTRUCTION (At December 31, 2009) Shell interest, direct 100% capacity Location and indirect (%) (mtpa)[a] Qatargas 4 Ras Laffan Australia Pluto I Karratha 31[B] 4.3 Gorgon Barrow Island [A] As reported by the operator. [B] Based on 90% Woodside shareholding in the Pluto I plant.

78 76 Shell Financial and Operational Information Downstream data DOWNstream data Oil Products and refining locations OIL PRODUCTS REFINERY AVAILABILITY % Average worldwide COST OF CRUDE OIL PROCESSED OR CONSUMED [A] $/b Total OPERABLE CRUDE OIL DISTILLATION CAPACITY [B] thousand b/calendar day [C][G] Europe 1,519 1,601 1,815 1,823 1,822 Africa, Asia, Australia/Oceania USA Other Americas Total 3,639 3,678 3,953 3,991 3,964 CRUDE OIL PROCESSED [D] thousand b/d [C] Europe 1,251 1,394 1,644 1,641 1,701 Africa, Asia, Australia/Oceania USA Other Americas Total 2,783 3,122 3,497 3,569 3,673 Shell share of equity-accounted investments REFINERY PROCESSING INTAKE [E] thousand b/d [C] Crude oil 2,783 3,123 3,496 3,617 3,722 Feedstocks ,067 3,388 3,779 3,862 3,981 Europe 1,330 1,481 1,731 1,732 1,804 Africa, Asia, Australia/Oceania USA Other Americas Total 3,067 3,388 3,779 3,862 3,981 Metric equivalent (mtpa) REFINERY PROCESSING OUTTURN [F] thousand b/d [C] Gasolines 1,179 1,229 1,363 1,444 1,492 Kerosines Gas/Diesel oils 1,025 1,145 1,190 1,215 1,256 Fuel oil Other products Total 3,256 3,535 3,860 3,970 4,088 [A] Includes upstream margin on crude supplied by Shell and equity-accounted investment exploration and production companies. [B] Shell average operating capacity for the year and excluding mothballed capacity. [C] One barrel per day is equivalent to approximately 50 tonnes a year, depending on the specific gravity of the crude oil. [D] Including natural gas liquids; includes processing for others and excludes processing by others. [E] Including crude oil and natural gas liquids plus feedstocks processed in crude oil distillation units and in secondary conversion units. [F] Excluding own use and products acquired for blending purposes. [G] Calendar day capacity is the maximum sustainable capacity minus capacity loss due to normal unit down time.

79 Shell Financial and Operational Information Downstream data 77 LOCATION, PERCENTAGE OF SHELL INTEREST AND CAPACITY OF REFINing Locations [A] (At December 31, 2009) thousand b/calendar day Refinery location Asset class Shell interest %[B] Atmospheric distillation Thermal cracking/ visbreaking/coking Catalytic cracking Capacity 100% hydrocracking Europe Czech Republic Kralupy Litvinov Denmark Fredericia Germany Harburg Heide Miro Schwedt Rheinland The Netherlands Pernis Norway Mongstad Sweden Gothenburg Turkey Batman 1 20 Izmir Izmit Kirikale UK Eastham Stanlow Asia-Pacific Australia Clyde Geelong Japan Mizue (Toa) Ohgimachi (Showa) [C] Yamaguchi Yokkaichi Malaysia Port Dickson New Zealand Whangarei [D] Pakistan Karachi Philippines Tabangao Singapore Pulau Bukom Middle East Saudi Arabia Al Jubail Africa South Africa Durban USA California Martinez Louisiana Convent Norco Texas Deer Park Port Arthur Washington Puget Sound Other Americas Argentina Buenos Aires Canada Alberta Scotford Ontario Sarnia Quebec Montreal East [C] El Salvador Acajutla [A] Excludes mothballed capacity. [B] Percentage rounded to nearest whole percentage point where appropriate. [C] To be converted into terminal/closed. [D] Sold in April Integrated refinery and chemical complex. Cogeneration capacity. Refineries with some chemical production.

80 78 Shell Financial and Operational Information Downstream data Oil sales and retail sites OIL SALES [A] thousand b/d Europe Gasolines Kerosines Gas/Diesel oils Fuel oil Other products Total 1,637 1,831 1,886 1,973 2,093 Africa, Asia, Australia/Oceania Gasolines Kerosines Gas/Diesel oils Fuel oil Other products Total 1,263 1,257 1,283 1,227 1,232 USA [C] Gasolines ,068 Kerosines Gas/Diesel oils Fuel oil Other products Total 1,327 1,402 1,487 1,471 2,013 Other Americas Gasolines Kerosines Gas/Diesel oils Fuel oil Other products Total Export sales [B] Gasolines Kerosines Gas/Diesel oils Fuel oil Other products Total 1,233 1,359 1,297 1,157 1,011 Total product sales [C] Gasolines 2,071 2,051 2,178 2,206 2,404 Kerosines Gas/Diesel oils 2,031 2,254 2,295 2,106 2,296 Fuel oil Other products Total 6,156 6,568 6,625 6,485 7,057 SALES BY PRODUCT AS PERCENTAGE of TOTAL PRODUCT sales % Gasolines Kerosines Gas/Diesel oils Fuel oil Other products Total BRANDED RETAIL SITES number of sites at year-end Europe 11,406 11,605 11,575 11,455 11,180 Middle East, Asia-Pacific 9,624 10,115 10,040 10,075 9,970 Africa 2,191 2,385 2,430 2,450 2,415 USA 14,459 14,300 14,370 14,080 15,400 Other Americas 6,232 6,200 6,745 6,665 6,800 Total 43,912 44,605 45,160 44,725 45,765 [A] Sales figures exclude deliveries to other companies under reciprocal purchase and sale arrangements which are in the nature of exchanges. Sales of condensate and natural gas liquids are included. [B] Export sales as a percentage of total oil sales amount to 20.0% in 2009, 20.7% in 2008, 19.6% in 2007, 17.8% in 2006 and 14.3% in [C] Certain contracts are held for trading purposes and reported net rather than gross with effect from Q The effect in 2009 is a reduction in oil product sales of approximately 739,000 b/d, 698,000 b/d in 2008, 805,000 b/d in 2007 and 844,000 b/d in 2006.

81 Shell Financial and Operational Information Downstream data 79 revenue and shipping Oil products REVENUE $ million By product Gasolines 60,683 86,125 75,387 65,910 62,189 Kerosines 20,228 37,961 26,060 23,485 21,775 Gas/Diesel oils 59, ,905 80,458 68,899 63,357 Fuel oil 13,320 20,800 14,972 13,948 13,218 Other products 22,265 29,115 23,160 20,182 17,505 Total 176, , , , ,044 By geographical area [A] Europe 48,314 85,417 65,697 60,755 55,968 Africa, Asia, Australia/Oceania 37,887 56,576 43,986 37,869 31,705 USA 36,697 57,981 49,598 44,370 49,574 Other Americas 22,612 30,990 23,679 21,465 19,957 Oil products export sales [A] 30,496 51,942 37,077 27,965 20,840 Total 176, , , , ,044 [A] By country of destination, except where the ultimate destination is not known at the time of sale, in which case the sales are shown as export sales. OIL TANKERS [A] (At December 31) number of ships million deadweight tonnes Owned/demise-hired VLCCs (very large crude carriers 160,000 dwt) Large range (45, ,000 dwt) Medium range (25,000 45,000 dwt) General purpose (10,000 25,000 dwt)/specialist Total Time-chartered [B][C] VLCCs (very large crude carriers 160,000 dwt) [D] Large range (45, ,000 dwt) Medium range (25,000 45,000 dwt) General purpose (10,000 25,000 dwt)/specialist Total Total oil tankers Owned/demise-hired under construction or on order LPG GAS CARRIERS [A][E] (At December 31) number of ships thousand cubic metres Time-chartered (LPG) [A] Oil tankers, ocean going articulated tug barges and gas carriers of 10,000 dwt and above which are owned/chartered by subsidiaries where the equity shareholding is at least 50%. [B] Time-chartered oil tankers include consecutive voyage charters. [C] Contracts of affreightment are not included. [D] Four of the time-chartered VLCCs are directly manned and managed by subsidiaries. [E] LNG shipping is covered under Upstream data on page 75.

82 80 Shell Financial and Operational Information Downstream data chemicals and manufacturing locations CHEMICALS MANUFACTURING PLANT AVAILABILITY % Average worldwide SALES VOLUMES BY MAIN PRODUCT CATEGORY [A] thousand tonnes Base chemicals 10,166 11,573 12,968 14,146 13,710 First-line derivatives 8,143 8,746 9,577 8,964 8,891 Other Total 18,311 20,327 22,555 23,137 22,826 SALES VOLUMES BY REGION [A] thousand tonnes Europe ,472 8,908 9,361 10,018 Africa, Asia, Australia/Oceania 4,831 4,924 5,466 5,673 5,252 USA 5,833 6,362 7,469 7,464 6,893 Other Americas Total 18,311 20,327 22,555 23,137 22,826 ETHYLENE CAPACITY [C][D] Nominal capacity (thousand tonnes/year) 5,182 5,827 6,216 6,178 6,414 Utilisation 80% 87% 90% 86% 86% [A] Excluding volumes sold by equity-accounted investments, chemical feedstock trading and by-products. [B] Excluding revenue from equity-accounted investments, chemical feedstock trading and intersegment revenue. [C] Shell and equity-accounted investments. [D] Data includes our share of capacity entitlement (offtake rights) that may be different from nominal equity interest. With effect from 2008 we have excluded from our ethylene capacity, certain US units which have been taken offline for a long-term or indefinite period. Nominal capacity is quoted as at December 31, Utilisation is based on the annual average capacity. CHEMICAL PRODUCTS AND THEIR MAJOR APPLICATIONS Product group Some typical end uses Base chemicals: ethylene, propylene and aromatics Feedstock for petrochemical derivatives typically used for: polyethylene film for packaging, carrier bags, polypropylene for moulded plastic buckets, food containers, polyvinyl chloride (PVC) for drainpipes Ethylene oxide/glycols (EO/G) Brake fluids, polyethylene terephthalate (PET) plastics, polyester, packaging, antifreeze Higher olefins and derivatives (HODer) Sunscreen, shower gel, automobile interiors, wire insulation, detergents Propane diol/polytrimethylene terephthalate (PDO/PTT) Carpets, textiles, engineering thermoplastics, fibres Styrene monomer/propylene oxide (SM/PO) Waterproof leisure wear, artificial sports tracks, foam mattresses, CD cases, insulation Solvents/phenol Pharmaceuticals, perfumes, paints, kitchen and bathroom cleaners

83 Shell Financial and Operational Information Downstream data 81 LOCATION AND SHELL SHARE PRODUCTION CAPACITY OF MANUFACTURING PLANTS [A] (At December 31, 2009) thousand tpa Location Plant Ethylene Styrene monomer Ethylene Glycols Heavy Olefins Additional Products Europe The Netherlands Moerdijk A, I UK Stanlow 330 A, I, O Mossmorran 410 Germany Rheinland 470 A Heide 100 A USA Louisiana Geismar I Norco 1,420 A Texas Deer Park 835 A, I Other Americas Canada Scotford A, I Middle East Saudi Arabia Al Jubail A, O Asia-Pacific Singapore Jurong Island A, I, P, O Japan Yamaguchi 11 A China Nanhai A, I, P Total 5,182 2,570 1,996 1,261 [A] Includes joint-venture plants, with the exception of the Infineum additives joint ventures. A Aromatics/Lower Olefins. I P Intermediates. Polyethylene, Polypropylene. O Other. OTHER LOCATIONS Location Plant Products Europe UK Wilton [A] I Germany Harburg I Schwedt A Karlsruhe A The Netherlands Pernis A, I, O USA Washington Puget Sound O Alabama Mobile A Texas Port Arthur A California Martinez O Other Americas Argentina Buenos Aires I Canada Montreal I Sarnia A, I Asia-Pacific Australia Geelong A, I Japan Kawasaki A, I Yokkaichi A Malaysia Bintulu I Port Dickson A Philippines Tabangao I Singapore Pulau Bukom A, I New Zealand Gracefield I Africa South Africa Durban I, O [A] Closed in January A Aromatics/Lower Olefins. I Intermediates. P Polyethylene, Polypropylene. O Other.

84 82 Shell Financial and Operational Information Supplementary information Supplementary information Share information SHARE PRICES Euronext Amsterdam[A] London Stock Exchange New York Stock Exchange[C] High Low Year-end High pence Low pence Year-end pence High $ Low $ Year-end $ Royal Dutch ordinary shares/ Royal Dutch New York Shares 2005 (Jan 1 Sep 30) 28.38[B] 20.92[B] 25.80[B] 67.45[D] 55.37[D] 62.80[D] RDSA/RDS Class A ADRs 2005 (Jul 20 Dec 31) ,894 1,633 1, ,974 1,661 1, ,152 1,611 2, ,278 1,276 1, ,944 1,362 1, Euronext Amsterdam London Stock Exchange[E] New York Stock Exchange[F] High Low Year-end High pence Low pence Year-end pence High $ Low $ Year-end $ Shell Transport Ordinary Shares/ Shell Transport ADRs 2005 (Jan 1 Jul 19) 1,991 1,528 1, RDSB/RDS Class B ADRs 2005 (Jul 20 Dec 31) ,968 1,717 1, ,071 1,686 1, ,173 1,600 2, ,245 1,223 1, ,897 1,315 1, [A] Pursuant to the terms of the Unification (in 2005, Royal Dutch Shell plc became the single parent company of Royal Dutch and Shell Transport, the two former public parent companies of the Shell group), holders of Royal Dutch ordinary shares received two Royal Dutch Shell plc Class A ordinary shares for each Royal Dutch ordinary share. To assist comparison, the historical prices of the Royal Dutch ordinary shares have been divided by 2 to reflect such exchange ratio. [B] Royal Dutch ordinary shares continued to trade on Euronext Amsterdam following the completion of the Unification until such shares were delisted on September 30, [C] Pursuant to the terms of the Unification, holders of Royal Dutch New York Shares received one Royal Dutch Shell plc Class A ADR for each Royal Dutch New York Share. Each Royal Dutch Shell plc Class A ADR represents two Royal Dutch Shell plc Class A ordinary shares. [D] The New York Stock Exchange halted trading in the Royal Dutch New York Shares on October 3, 2005, following delisting in Amsterdam, and resumed trading in the Royal Dutch New York Shares on October 31, 2005, following the joint public announcement by Royal Dutch Shell plc and Royal Dutch of the definitive terms of the legal merger between Royal Dutch and its wholly owned subsidiary Shell Petroleum N.V., in which all outstanding Royal Dutch shares were exchanged for (or the equivalent in loan notes). The table excludes trading in Royal Dutch New York Shares for the period from October 3, 2005, through their delisting on November 21, [E] Pursuant to the terms of the Unification, holders of Shell Transport Ordinary Shares (including Shell Transport Ordinary Shares to which holders of Shell Transport bearer warrants were entitled) received Royal Dutch Shell plc Class B ordinary shares for each Shell Transport Ordinary Share. To assist comparison, the historical prices of the Shell Transport Ordinary Shares have been divided by to reflect such exchange ratio. [F] Pursuant to the terms of the Unification, holders of Shell Transport ADRs received Royal Dutch Shell plc Class B ADRs for each Shell Transport ADR. To assist comparison, the historical prices of the Shell Transport ADRs have been divided by to reflect such exchange ratio. Each Royal Dutch Shell plc Class B ADR represents two Royal Dutch Shell plc Class B ordinary shares.

85 Shell Financial and Operational Information Supplementary information 83 Dividends Dividends are declared in US dollars. Dividends declared on Class A shares are paid by default in euros, although holders of Class A shares are able to elect to receive dividends in pound sterling. Dividends declared on Class B shares are paid by default in pounds sterling, although holders of Class B shares are able to elect to receive dividends in euros. Dividends declared on ADRs are paid in US dollars. Eligible shareholders must make currency elections by the day before the declaration date. It is expected that holders of Class B ordinary shares will receive dividends through the dividend access mechanism applicable to such shares. After servicing outstanding debt, Shell s first priority for applying its cash is payment of the dividend. Shell s policy of growing the dividend in US dollar at least in line with inflation over time has changed beginning in Going forward, the policy will be to grow the dividend in US dollar over time in line with our view of the underlying earnings and cash flow of Shell. When setting the dividend, the Board looks at a range of factors, including the macro environment, the current balance sheet and future investment plans. In addition, Shell may choose to return cash to shareholders through share buybacks, subject to the capital requirements of Shell. Financial calendar Financial year ends December 31, 2009 Announcements First quarter results for 2010 April 28, 2010 Second quarter results for 2010 July 29, 2010 Third quarter results for 2010 October 28, 2010 Dividend timetable [A] 2010 First quarter interim Announced April 28, 2010 Ex-dividend date May 5, 2010 Record date May 7, 2010 Payment date June 9, Second quarter interim Announced July 29, 2010 Ex-dividend date August 4, 2010 Record date August 6, 2010 Payment date September 8, Third quarter interim Announced October 28, 2010 Ex-dividend date November 3, 2010 Record date November 5, 2010 Payment date December 8, 2010 CLASS A AND B SHARES $ Q Q Q Q Total CLASS A SHARES 2009[A] 2008[A] 2007[A] Q [B] Q Q Q Total declared during the year Amount paid during the year CLASS B SHARES [B] pence Q [B] Q Q Q Total declared during the year Amount paid during the year CLASS A ADRs $ Q [B] Q Q Q Total declared during the year Amount paid during the year CLASS B ADRs $ Q [B] Q Q Q Total declared during the year Amount paid during the year [A] Euro equivalent, rounded to the nearest euro cent. [B] Pound sterling equivalent. Annual General Meeting May 18, 2010 [A] This timetable is the intended timetable as announced on October 29, 2009.

86 84 Shell Financial and Operational Information Supplementary information About this publication This publication contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell plc (the Company). 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. Forwardlooking statements include, among other things, statements concerning the potential exposure of 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, scheduled, seek, should, target, will and similar terms and phrases. Also included as forward-looking statements in this publication is our disclosure of reserves, proved oil and gas reserves, resources, and all future estimates of refining capacity, oil and gas production, capital investment and expenditure, cash from operations, dividends, share buybacks and investments. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this publication, 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) 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 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 publication 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 the Company s 20-F for the year ended December 31, 2009 (available at and These factors also should be considered by the reader. Each forward-looking statement speaks only as of the date of this publication, April 30, Neither the Company 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 publication. Please refer to the Annual Report and Form 20-F for the year ended December 31, 2009 for a description of certain important factors, risks and uncertainties that may affect the businesses of Shell. This publication has not been subject to audit. 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 publication 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 , available on the SEC website gov. You can also obtain these forms from the SEC by calling SEC The companies in which the Company directly and indirectly owns investments are separate entities. In this publication Shell is sometimes used for convenience where references are made to the Company 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 publication refer to companies over which the Company, either directly or indirectly, has control through a majority of the voting rights or the right to exercise control or to obtain the majority of the benefits and be exposed to the majority of the risks. The Consolidated Financial Statements consolidate the financial statements of the Parent Company and all subsidiaries. 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. Joint ventures are comprised of jointly controlled entities and jointly controlled assets. In this publication, 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 interests. The term reserves in this publication means SEC proved oil and gas reserves. The term resources in this publication 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 2P and 2C definitions. There can be no assurance that dividend payments will match or exceed those set out in this publication in the future, or that they will be made at all. The Financial Statements contained in this publication have been prepared in accordance with the provisions of the Companies Act 2006, Article 4 of the International Accounting Standards (IAS) Regulation and with both International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and IFRS as adopted by the European Union. IFRS as defined above includes International Financial Reporting Interpretations Committee (IFRIC) interpretations. 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 Downstream 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 Shell s results of operations and is a measure to manage the performance of the Downstream segment but is not a measure of financial performance under IFRS. Except as otherwise noted, the figures shown in this publication are stated in US dollars. As used herein all references to dollars or $ are to the US currency. Internal segment reporting is on a global basis. For the main segments an analysis of certain data is provided in this publication between the USA and the world outside the USA. Assets and liabilities of non-us dollar subsidiaries are translated to US dollars at year-end rates of exchange, whilst their statements of income and cash flows are translated at quarterly average rates. Translation differences arising on consolidation are taken directly to a currency translation differences account within equity. Upon divestment or liquidation of an entity, cumulative currency translation differences related to that entity are taken to income. The maps in this publication are intended only to give an impression of the magnitude of Shell s Upstream activities in certain parts of the world. The maps are not comprehensive and show primarily major projects and assets mentioned in this publication. The maps must not be considered authoritative, particularly in respect of delimitation of national, concession or other boundaries, nor in respect of the representation of pipeline routes and landfalls, field sizes or positions. The maps mainly describe the situation as at December 31, This publication contains references to Shell s website. These references are for the reader s convenience only. Shell is not incorporating by reference any information posted on

87 Shell Financial and Operational Information Contact information contact information REGISTERED OFFICE Royal Dutch Shell plc Shell Centre London SE1 7NA United Kingdom Registered in England and Wales Company number Registered with the Dutch Trade Register under number HEADQUARTERS Royal Dutch Shell plc Carel van Bylandtlaan HR The Hague The Netherlands RETAIL SHAREHOLDERS Enquiries from retail shareholders: Shareholder Relations Royal Dutch Shell plc Carel van Bylandtlaan HR The Hague The Netherlands +31 (0) (0) (0) or Shareholder Relations Royal Dutch Shell plc Shell Centre London SE1 7NA United Kingdom +44 (0) (0) INVESTOR RELATIONS Enquiries from institutional shareholders: Investor Relations Royal Dutch Shell plc PO Box AN The Hague The Netherlands +31 (0) (0) (UK) or Investor Relations Shell Oil Company PO Box 2463 Houston, TX USA For questions about: Share registration Equiniti Aspect House, Spencer Road Lancing West Sussex BN99 6DA United Kingdom (UK) +44 (0) (0) For online information about your holding and to change the way you receive your company documents: American Depositary Receipts (ADR s ) The Bank of New York Mellon Shareowner Services PO Box Pittsburgh, PA USA (USA) (international) Corporate ISA BNP Paribas Securities Services Block C, Western House Lynchwood Business Park Peterborough PE2 6BP United Kingdom (UK) shrrelations@bnymellon.com Designed by Studio Dumbar Printed by Thieme MediaCenter Rotterdam under ISO

88 Shell reports Online versions Information from our reports is available for online reading and for downloading as a PDF file. The webpages contain interactive chart generators, downloadable tables in Excel format, hyperlinks to other webpages and an enhanced search tool. Sections of the reports can also be downloaded separately or combined into a custom-made PDF file. ANNUAL REPORT ROYAL DUTCH SHELL PLC ANNUAL REPORT AND FORM 20 F FOR THE YEAR ENDED DECEMBER Annual Report and Form 20-F for the year ended December 31, 2009 A comprehensive operational and financial overview of Shell. ANNUAL REVIEW ROYAL DUTCH SHE L P C ANNUAL REVIEW AND SUMMARY FINANCIAL STATEMENTS 2009 Annual Review and Summary Financial Statements 2009 A summarised operational and financial overview of Shell. Jaaroverzicht en verkorte jaarrekening 2009 Dutch language version. FIVE-YEAR FACT BOOK ROYAL DUTCH SHELL PLC FINANCIAL AND OPERAT ONAL NFORMAT ON SUSTAINABILITY REPORT ROYAL DUTCH SHE L P C SUSTAINABI ITY REPORT 2009 SUSTAINABILITY REVIEW ROYAL DUTCH SHELL PLC SUSTA NAB L TY REV EW 2009 Financial and Operational Information Five years detailed financial and operational information, including maps. Sustainability Report 2009 Report on progress in contributing to sustainable development. Sustainability Review 2009 A summarised report on progress in contributing to sustainable development. AVAILABle FROM Royal Dutch Shell plc c/o Bankside +44 (0) bbs@shellbankside.co.uk Annual Report/20-F service for US residents