On Thursday July 30, 2020 Royal Dutch Shell plc released its second quarter results and second interim dividend announcement for 2020. Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) hosted a teleconference and audio webcast of the second quarter 2020 results on Thursday July 30, 2020.

1. Royal Dutch Shell | July 30, 2020
Royal Dutch Shell plc
#MakeTheFuture
SECOND QUARTER
2020 RESULTS
Decisive actions and strong performance
deliver cash
July 30, 2020

2. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
Ben van Beurden
Chief Executive Officer

3. Royal Dutch Shell | July 30, 2020
Adjusted earnings is the income attributable to RDS plc shareholders for the period, adjusted for the after-tax effect of oil price changes on inventory and for identified items. In this presentation, “earnings” refers to “Adjusted earnings” unless stated otherwise. Adjusted earnings per share is calculated by
dividing “CCS earnings attributable to RDS plc shareholders” by the average number of shares outstanding over the year. In this presentation, “earnings per share” refers to “basic adjusted earnings per share” unless stated otherwise. In this presentation, ROACE refers to “ROACE on a CCS basis
excluding identified items” unless stated otherwise. This measure is defined as the sum of CCS earnings excluding identified items for the current and previous three quarters, adjusted for after-tax interest expense, expressed as a percentage of the average capital employed for the same period. Capital
employed consists of total equity, current debt and non-current debt. In this presentation, “cost” refers to “operating expenses excluding identified items”. In this presentation, “cost” refers to “underlying operating expenses“. Underlying operating expenses represent operating expenses excluding identified
items”. Operating expenses consist of the following lines in the Consolidated Statement of Income: (i) production and manufacturing expenses; (ii) selling, distribution and administrative expenses; (iii) and research and development expenses. Cash flow from operating activities excluding working capital
movements is defined as “Cash flow from operating activities” less the sum of the following items in the Consolidated Statement of Cash Flows: (i) (increase)/decrease in inventories, (ii) (increase)/decrease in current receivables, and (iii) increase/(decrease) in current payables. Cash capital expenditure
comprises the following lines from the Consolidated Statement of Cash Flows: Capital expenditure, Investments in joint ventures and associates and Investments in equity securities. Free Cash Flow is defined as the sum of “Cash flow from operating activities” and “Cash flow from investing activities”.
Organic free cash flow is defined as free cash flow excluding inorganic cash capital expenditure, divestment proceeds and tax paid on divestments. Divestment proceeds are defined as the sum of (i) proceeds from sale of property, plant and equipment and businesses, (ii) proceeds from sale of joint
ventures and associates and (iii) proceeds from sale of equity securities. Gearing is defined as net debt (current and non-current debt less cash and cash equivalents, adjusted for the fair value of derivative financial instruments used to hedge foreign exchange and interest rate risks relating to debt, and
associated collateral balances) as a percentage of total capital (net debt plus total equity). Reconciliations of the above non-GAAP measures are included in the Royal Dutch Shell plc Unaudited Condensed Interim Financial Report for the six months ended June 30, 2020
The financial measures provided by strategic themes represent a notional allocation of ROACE, capital employed, cash capital expenditure, free cash flow, organic free cash flow and underlying operating expenses of Shell’s strategic themes. Shell’s segment reporting under IFRS 8 remains Integrated Gas,
Upstream, Oil Products, Chemicals and Corporate.
Also, in this presentation we may refer to Shell’s “Net Carbon Footprint”, which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy
products we sell. Shell only controls its own emissions. The use of the term Shell’s “Net Carbon Footprint” is for convenience only and not intended to suggest these emissions are those of Shell or its subsidiaries.
Unit cash flow calculation based on Shell internal analysis. Integrated Gas and Upstream cash flow divided by total production. Calculation based on reported segment CFFO excl. WC, for Total: Upstream and integrated Gas, Renewables and Power, for Shell: Upstream and Integrated Gas. Calculation
for BP, Chevron end ExxonMobil approximate, based on total CFFO excl. WC less Downstream and Corporate cashflows estimated by adding segment net income and segment depreciation, corrected for interest and special items. Oil Products cash flow divided by Oil Products sales volumes. Calculation
based on reported segment CFFO excl. WC, for Shell: Oil Products. For BP and Chevron: based on total Downstream CFFO excl. WC less Chemicals cash flows; Chemicals cash flows is estimated by adding back after tax depreciation to net income and adjusting for interest expenses. For ExxonMobil:
based on total Oil Products CFFO excl. WC, added back after tax depreciation to net income and adjusted for interest expenses.
This presentation contains the following forward-looking non-GAAP measures: Organic Free Cash Flow, Cash Capital Expenditure, Gearing, ROACE, Capital Employed and Divestments. We are unable to provide a reconciliation of the above forward-looking non-GAAP measures to the most comparable
GAAP financial measures because certain information needed to reconcile the above non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some which are outside the control of the company, such as oil and gas prices, interest rates and exchange rates.
Moreover, estimating such GAAP measures consistent with the company accounting policies and the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which
cannot be reconciled to the most comparable GAAP financial measures are calculated in a manner which is consistent with the accounting policies applied in Royal Dutch Shell plc’s financial statements.
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this presentation “Shell”, “Shell Group” and “Royal Dutch Shell” are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general.
Likewise, the words “we”, “us” and “our” are also used to refer to Royal Dutch Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell
companies” as used in this presentation refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities over which
Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
This presentation contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to
be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from
those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions.
These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, “anticipate”, “believe”, “could”, “estimate”, “expect”, “goals”, “intend”, “may”, “objectives”, “outlook”, “plan”, “probably”, “project”, “risks”, “schedule”, “seek”, “should”, “target”, “will’’ and
similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentation, including (without limitation): (a) price fluctuations in
crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential
acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate
change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared
costs; (m) risks associated with the impact of pandemics, such as the COVID-19 (coronavirus) outbreak; and (n) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this
presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell’s Form 20-F for the year
ended December 31, 2019 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this presentation and should be considered by the reader. Each forward-looking statement speaks only as of the date of this
presentation, July 30, 2020. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated,
implied or inferred from the forward-looking statements contained in this presentation. We may have used certain terms, such as resources, in this presentation that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged
to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.
3
Definitions & cautionary note

4. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
Key messages
Q2 results
Cash preservation
Strengthening the
balance sheet
◼ Integrated portfolio enabling resilient earnings and cash generation
◼ Cash flow from operations excluding working capital of $6.5 billion
◼ Strong value delivery through trading and optimisation capabilities
◼ Decisive actions taken to preserve cash while continuing to invest
◼ Accelerate digitalisation: redefining and virtualising processes
◼ Quality of assets and people enables business continuity
◼ Protecting value in a challenging macroeconomic environment
◼ Focus remains on AA credit rating metrics through the cycle
◼ Cash allocation priorities unchanged
4

5. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
Injuries (TRCF) per million working hours Thousand tonnes
Million tonnes CO2e # of incidents
Million working hours #
Flaring intensity (%)
0
400
800
0
1
2
2010 2012 2014 2016 2018 20H1
0
250
0
5
10
2010 2012 2014 2016 2018 20H1
0
1
2
0
5
10
15
2010 2012 2014 2016 2018 20H1
0
100
200
300
2013 2014 2015 2016 2017 2018 2019 20H1
5
Goal Zero on safety Operational spills
Upstream flaring Process safety
H1 2020
HSSE
performance
TRCF Working hours (RHS) Volume of spills Number of spills (RHS)
Tier 1 Tier 2GHG from flaring Flaring intensity (RHS)

6. Royal Dutch Shell | July 30, 2020 6
Business continuity and safety
◼ Supporting local communities with energy
needs in crisis situation
◼ Enhancing safety processes to ensure safe
and reliable business operations
◼ Remote inspections executed by using
digitalisation technology to support
critical operations
Accelerating digitalisation
◼ Shell Lubricants recognised externally
(Gartner) for its digital supply chain
analytics tools to improve decision-making
◼ Inventory optimisation for assets to focus
on cash preservation
◼ Using AI simulation to facilitate planning
within all practical constraints for returning
to sites
Virtualisation of work
◼ Finance close process was executed
virtually and completed faster than any
quarter before
◼ Apps replacing cards for fleet solutions
customers in India and China
◼ Audits executed virtually, providing quicker,
real-time feedback and reducing disruption
Redefining our operations and processes under a ‘new normal’

7. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
On track to deliver
reduction in underlying
operating expenses of
$3-4 billion by Q1 2021
◼ Redesigning operating models and reshaping into a
more customer-focused and efficient organisation
◼ Further leveraging Shell Business Operations
◼ Selective voluntary severance process of around 1500
staff to be completed by end of the year, translating
into $500 million savings annually
◼ Reduction in contingent workforce, saving $600-700
million annually
◼ 30% reduction of expatriates, saving more than $200
million annually
◼ Reduction of costs related to feasibility studies,
resulting in more than $150 million savings in 2020
$ billion
7
Decisive actions Underlying operating expenses
Reducing
operating
expenses
Reduction of underlying operating expenses by $3-4 billion per annum over the next 12 months since March 2020, compared with 2019 levels.
0
2
4
6
8
10
12
19Q2 19Q3 19Q4 20Q1 20Q2
Thousands
-13%

8. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
On track to reduce cash
capital expenditure to
$20 billion or below in
2020
Stop
◼ Lake Charles LNG, US
◼ MNG joint venture, Russia
◼ Refining growth projects
Defer
◼ Final investment decisions:
◼ Whale, US Gulf of Mexico
◼ Cambo and Jackdaw, UK North Sea
◼ Browse LNG and Crux, Australia
◼ Inorganic Marketing growth
◼ Rephasing projects under construction
Reduce
◼ Exploration spend reduction
◼ Reduced drilling activity in Shales
$ billion
8
Decisive actions Cash capital expenditure
Strong capital
discipline
0
2
4
6
8
19Q2 19Q3 19Q4 20Q1 20Q2
Thousands
-27%

9. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
$ billion per annum 2020
Conventional Oil & Gas 2.5
Deep Water 4.0
Shales 1.5
Core Upstream themes ~8
Integrated Gas 3.5
Chemicals 3.0
Oil Products 4.0
Leading Transition themes ~10.5
Power 1.0
Emerging Power theme ~1.0
Total ~20
$ billion
9
Cash capital expenditure
Prudent
capital
allocation
Cash capital
expenditure post 2020
dependent on
macroeconomic
environment
0
5
10
15
20
25
30
2018 2019 2020 plan 2020E 2021E
Thousands
-20% Stable
environment
Recessionary
environment

10. Royal Dutch Shell | July 30, 2020 10
Cash allocation priorities
Priorities
for cash
Interest
Ordinary
dividend
Capital
expenditure
Debt
reduction
1 2 3 4
Additional
capital
expenditure
Additional
shareholder
distributions
◼ Maintaining AA credit metrics through the cycle◼ $20 billion or lower
for 2020
Protect value Grow value and distributions

11. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
Jessica Uhl
Chief Financial Officer

12. Royal Dutch Shell | July 30, 2020
Cash
generation
Adjusted earnings
ROACE
Disciplined
cash
allocation
Returns
Gearing
Cash capital expenditure
Cash flow from operations
excluding working capital
Free cash flow
12
◼ Earnings impacted mainly by lower price and margin environment
◼ Impacted by lower earnings and lower asset base
Q2 2020 average Brent price: $30/bbl
Downstream margins lower than historical average
Q2 2020
Financial highlights: summary
$0.6 billion
5.3%
◼ Net debt of $77.8 billion
◼ Increase of 3.8% compared with Q1 2020, includes 2.8% from impairments and
pension remeasurement
◼ 2020 cash capital expenditure of $20 billion or below
32.7%
$3.6 billion
◼ Negative working capital movements of $4.0 billion
◼ Of which $(0.3) billion organic free cash flow
◼ $0.7 billion of divestment proceeds offset by $0.2 billion inorganic capital
expenditure
$6.5 billion
$0.2 billion

13. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
3.5
0.6
(4.0)
1.5
(0.2)
0.1
(0.3)
~0
-1
0
1
2
3
4
$ billion
13
Earnings Q2 2019 to Q2 2020
Q2 2020
Financial
highlights:
earnings
$ billion Q2 2019 Q2 2020
Integrated Gas 1.7 0.4
Upstream 1.3 (1.5)
Oil Products 1.3 2.4
Chemicals 0.1 0.2
Corporate (0.8) (0.8)
Non-controlling interest (0.1) (0.0)
Adjusted earnings 3.5 0.6
Earnings, $ per share 0.43 0.08
ROACE (%) 8.2 5.3

14. Royal Dutch Shell | July 30, 2020
◼ Impairments are a result of the revised medium and long-term price and
refining margin outlook reflecting the current macroeconomic
environment as well as expected energy supply and demand
fundamentals
◼ Impairment tests performed at Cash Generating Unit level (smallest
group of assets with independent cash flows)
◼ High-quality integrated portfolio and value chains continue to deliver
resilient cash flows
◼ Further consolidating refining footprint from 15 to less than 10 refineries
by 2025
Integrated Gas $8.2 billion
Upstream $4.7 billion
Oil Products $4.0 billion
Total $16.8 billion
14
Q2 2020 impairments (post-tax)
Price and margin outlook
◼ Average long-term refining margin revised downwards by around 30%
from previous midcycle downstream assumption
Q2 2020
Revised price and margin outlook
2020 2021 2022 2023 Long-term
Brent ($/bbl) 35 40 50 60 60 RT2020
Henry Hub ($/MMBtu) 1.75 2.5 2.5 2.75 3.0 RT2020

15. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
$ billion
15
CFFO ex. working capital Q2 2019 to Q2 2020
Q2 2020
Financial
highlights:
cash flow
Dividend paid to RDS shareholders includes impact of foreign exchange movements and withholding taxes. Cost of sales adjustment attributable to RDS shareholders.
10.5
6.5
(3.9)
0.3
(0.6)
1.4
(0.5)
(0.4)
(0.2)
0
2
4
6
8
10
12
$ billion Q2 2019 Q2 2020
Integrated Gas 3.4 2.7
Upstream 5.5 0.3
Oil Products 1.3 (0.4)
Chemicals 1.3 0.7
Corporate (0.4) (0.8)
Cash flow from
operations 11.0 2.6
Cash flow from
operations
excl. working capital
10.5 6.5
Cash flow from
investing activities (4.2) (2.3)
Free cash flow 6.9 0.2
Dividend paid (3.8) (1.4)
Interest paid (1.2) (1.1)

16. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020
$ billion $ billion
$ per boe $ per barrel
16
CFFO excluding working capital CFFO excluding working capital
Unit cash flow – Upstream & Integrated Gas Unit cash flow – Oil Products
Sector-leading
cash flow
generation
Competitive financial data as published and Shell internal analysis. CFFO excluding working capital corrected for interest received (in CFFI) and interest paid (CFFF) for Shell. Peer
range comprises of ExxonMobil, Chevron, BP and Total, except for unit cash flow - Oil Products which excludes Total.
2016 2017 2018 2019 20Q2 4QR
0
20
40
60
0
20
40
60
2016 2017 2018 2019 20Q2 4QR
Thousands
Upstream
Integrated Gas
Downstream
Corporate Shell
Peer range
Shell
Peer range
Shell
Peer range
0
10
20
30
40
2016 2017 2018 2019
0
1
2
3
4
5
2016 2017 2018 2019

17. Royal Dutch Shell | July 30, 2020Royal Dutch Shell | July 30, 2020 17
Shell: A
compelling
investment
proposition
Thrive in
the energy
transition
World-class
investment
case
Strong
licence
to operate
High-quality businesses
Proven execution discipline
Well positioned for the future
◼ Leading LNG business
◼ World-class deep-water assets
◼ High-return global Marketing business
◼ Unique trading and optimisation capabilities
◼ Decisive actions to strengthen the balance sheet
◼ Continued capital discipline
◼ Consistent highest cash generation in the sector
◼ Capturing value from the energy transition
◼ Building on established strengths
◼ Transition focus across all businesses
Platform for enhanced shareholder value
◼ Major actions taken, clear path to deleveraging
◼ Strong free cash flow to grow investment and
distributions
◼ Building the energy business of the future

18. Royal Dutch Shell | July 30, 2020
Q&A
Royal Dutch Shell | July 30, 2020
Ben van Beurden
Chief Executive Officer
Jessica Uhl
Chief Financial Officer
Upcoming events:
◼ Q3 2020 results – 29 October 2020
◼ Q4 2020 results – 04 February 2021
◼ Strategy Day – 11 February 2021

20. Royal Dutch Shell | July 30, 2020 20
Sector-leading cash flow generation
Free cash flow yield
-8
-4
0
4
8
12
2015 2016 2017 2018 2019 Q1 2020
Free cash flow yield defined as free cash flow divided by average market capitalisation for the period. Free cash flow corrected for interest paid (CFFF) for Shell. Peer group
consists of BP, Total, ExxonMobil and Chevron.
%
Peer range
Shell

21. Royal Dutch Shell | July 30, 2020
Q2 2020 (4Q rolling)
average Brent price: $51/bbl
FCF
21
$ billion %
Earnings & ROACE
$ billion
Cash flow
$ billion %
Gearing
◼ 4Q rolling earnings of $11.2 billion
◼ ROACE decreased by 0.8% to 5.3% compared
with Q1 2020
◼ $27.9 billion free cash flow 4Q rolling
◼ $20.6 billion organic free cash flow 4Q rolling
◼ Net debt of $77.8 billion
◼ Gearing likely to remain >25% during 2020
◼ Committed to maintaining AA equivalent
credit metrics
0
2
4
6
8
10
-5
0
5
10
15
20
25
2016 2017 2018 2019 20Q2
4QR
-20
0
20
40
60
2016 2017 2018 2019 20Q2
4QR
0
10
20
30
40
0
25
50
75
100
2016 2017 2018 2019 20Q2
Q2 2020
Financial highlights: trend
IFRS 16 Leases was adopted as of 1 January 2019. 2016 earnings per segment have not been revised for inter-segmental changes.
Upstream Oil Products CFFI
Chemicals ROACE (RHS)
CFFO Net debt (at period-end) Gearing (RHS)
Integrated Gas
Corporate + NCI

22. Royal Dutch Shell | July 30, 2020
◼ As a result of COVID-19, there continues to be significant uncertainty in the macro-
economic conditions with an expected negative impact on demand for oil, gas and
related products. Furthermore, recent global developments and uncertainty in oil
supply have caused further volatility in commodity markets. The third quarter 2020
outlook provides ranges for operational and financial metrics based on current
expectations, but these are subject to change in the light of current evolving market
conditions. Due to demand or regulatory requirements and/or constraints in
infrastructure, Shell may need to take measures to curtail or reduce oil and/or gas
production, LNG liquefaction as well as utilisation of refining and chemicals plants
and similarly sales volumes could be impacted. Such measures will likely have a
variety of impacts on our operational and financial metrics.
Integrated Gas
◼ Production is expected to be approximately 820 - 880 thousand boe/d
◼ LNG liquefaction volumes are expected to be approximately 7.6 - 8.2 million
tonnes
◼ Due to price lag in oil-linked LNG term contracts, the impact of low oil prices is
expected to become more significant in the third quarter
22
Outlook
Q3 2020 outlook
Upstream
◼ Production is expected to be approximately 2,100 - 2,400 thousand boe/d
Oil Products
◼ Refinery utilisation is expected to be approximately 68% - 76%
◼ Sales volumes are expected to be approximately 4,000 - 5,000 thousand b/d
Chemicals
◼ Manufacturing plant utilisation is expected to be approximately 78% - 88%
◼ Sales volumes are expected to be approximately 3,600 - 3,900 thousand tonnes
Corporate
◼ Corporate Adjusted Earnings are expected to be a net expense of approximately
$800 - 875 million in the third quarter 2020 and a net expense of approximately
$3,200 - 3,500 million for the full year 2020
◼ This excludes the impact of currency exchange rate effects

23. Royal Dutch Shell | July 30, 2020 23
$ per barrel $ per mscf
Shell oil & gas realisations
$ per barrel
Industry refining margins
$ per tonne
Industry chemicals margins
0
1
2
3
4
5
6
0
20
40
60
80
19Q2 19Q3 19Q4 20Q1 20Q2
-6
-3
0
3
6
9
12
15
18
19Q2 19Q3 19Q4 20Q1 20Q2
0
200
400
600
800
1000
19Q2 19Q3 19Q4 20Q1 20Q2
Q2 2020
Prices and margins
Oil
Gas (RHS)
US West Coast
Rotterdam complex
US Gulf Coast coking
Singapore
US ethane
Western Europe naphtha
NE/SE Asia naphtha

24. Royal Dutch Shell | July 30, 2020
Start-up Project Country
Shell share [A]
%
Peak production
100% kboe/d
LNG capacity
100% mtpa
Products
100% capacity
Power output
100% MW
Theme
Shell-
operated
2020-2021 Arran United Kingdom 45 20  Conventional Oil and Gas P
Arrow - Surat Gas Australia 50 maintain capacity  Integrated Gas
Barracuda backfill Trinidad and Tobago 100 35  Integrated Gas P
Borssele III & IV The Netherlands 20 732  Power
EA Further Development Nigeria 30 45  Conventional Oil and Gas P
Gangarri - QGC solar Australia 100 120  Power P
Mero 1 [B] Brazil 20 180  Deep Water
Pegaga Malaysia 20 90  Conventional Oil and Gas
Pierce Depressurisation United Kingdom 93 30  Conventional Oil and Gas P
PowerNap United States 100 35  Deep Water P
QGC SW20+ Harvest Australia 62 maintain capacity  Integrated Gas P
Salym Southern Hub Russia 50 55  Conventional Oil and Gas
Troll Ph3 Norway 8 230  Conventional Oil and Gas
2022+ Assa North Nigeria 30 60  Conventional Oil and Gas P
Colibri backfill Trinidad and Tobago 87 35  Integrated Gas P
Gbaran Nodal Compression Nigeria 30 60  Conventional Oil and Gas P
Gbaran Ph3 Nigeria 30 45  Conventional Oil and Gas P
Gorgon - Jansz infill Australia 25 maintain capacity  Integrated Gas
LNG Canada T1-2 Canada 40 14  Integrated Gas
Mero 2 [B] Brazil 20 180  Deep Water
NLNG T7 Nigeria 26 7.4  Integrated Gas
P-71 [B] Brazil 25 150  Deep Water
Penguins Redevelopment United Kingdom 50 45  Conventional Oil and Gas P
Pennsylvania cracker United States 100 1.5 mtpa C2  Chemicals P
Soku Nodal Compression Ph2 Nigeria 30 35  Conventional Oil and Gas P
Vito United States 63 100  Deep Water P
24
Projects under construction
The Shales strategic theme continues to progress short-cycle high-margin assets in the US, Argentina and Canada.
[A] Direct and indirect share. [B] The Brazil accumulations are subject to unitisation agreements; production shown is FPSO oil capacity as per operator.
2020-21 Shell share: >200 kboe/d
2022+ Shell share: >200 kboe/d, 7.5 mtpa LNG
1.5 mtpa ethylene

25. Royal Dutch Shell | July 30, 2020
Phase Project Country
Shell share [A]
%
Peak production
100% kboe/d
LNG capacity
100% mtpa
Products
100% capacity
Power output
100% MW
Theme
Shell-
operated
Define Bonga South West Nigeria 43 150  Deep Water P
Epu Ph2 Nigeria 30 40  Conventional Oil and Gas P
Gorgon - Jansz compression Australia 25 maintain capacity  Integrated Gas
HA Development Nigeria 30 60  Conventional Oil and Gas P
HI Development Nigeria 40 75  Conventional Oil and Gas P
Jackdaw United Kingdom 74 40  Conventional Oil and Gas P
Jerun Malaysia 30 95  Conventional Oil and Gas
LNG Canada Expansion Canada 40 14  Integrated Gas
Marjoram/Rosmari Malaysia 75 100  Conventional Oil and Gas P
Moerdijk energy efficiency The Netherlands 100 Ethylene  Chemicals P
Ormen Lange Ph3 Norway 18 80  Conventional Oil and Gas P
Prelude - Crux Australia 82 maintain capacity  Integrated Gas P
Timi Malaysia 75 50  Conventional Oil and Gas P
Uzu Development Nigeria 30 45  Conventional Oil and Gas P
Whale United States 60 100  Deep Water P
Assess/Select
(continues)
Abadi Indonesia 35 245 9.5  Integrated Gas
Atlantic Shores Offshore Wind United States 50 2500  Power
Bonga Main Life Extension & Upgrade Nigeria 55 60  Deep Water P
Bonga North Tranche 1 Nigeria 55 120  Deep Water P
Cambo United Kingdom 30 55  Conventional Oil and Gas
Clair South United Kingdom 28 60  Conventional Oil and Gas
Chemicals derivatives China 50 Ethylene & derivatives  Chemicals
Dover United States 100 30  Deep Water P
25
Pre-FID options (1)
[A] Direct and indirect share. [B] The Brazil accumulations are subject to unitisation agreements; production shown is FPSO oil capacity as per operator. [C] To be confirmed.
Shell share potential: >1000 kboe/d
>12 mtpa LNG
~2 GW

26. Royal Dutch Shell | July 30, 2020
Phase Project Country
Shell share [A]
%
Peak production
100% kboe/d
LNG capacity
100% mtpa
Products
100% capacity
Power output
100% MW
Theme
Shell-
operated
Assess/Select
(continued)
East Med Egypt 35 115  Integrated Gas
Fort Sumter United States 100 30  Deep Water P
Gato do Mato Brazil 80 70  Deep Water P
Chemicals expansion in China China 50 Derivatives  Chemicals
Harmattan Deep Egypt 60 25  Integrated Gas
HD Phase 1 Development Nigeria 30 50  Conventional Oil and Gas P
JK-A Oil ph1 Nigeria 30 55  Conventional Oil and Gas P
King Embayment United States 72 25  Deep Water P
Kashagan Future Gas Expansion PhA Kazakhstan 17 100  Conventional Oil and Gas
Linnorm development opportunity Norway 30 55  Conventional Oil and Gas P
Mono Ethylene Glycol Plant United States 100 Derivatives  Chemicals P
Mayflower Offshore Wind United States 50 1600  Power
Mero 3 [B] Brazil 20 180  Deep Water
Mero 4 [B] Brazil 20 180  Deep Water
Merpati - Meragi Brunei 50 35  Conventional Oil and Gas
Cracker and derivatives Iraq [C] [C]  Chemicals [C]
NWS - Browse backfill Australia 27 maintain capacity  Integrated Gas
Oman Integrated GTL Oman [C] [C] [C]  Integrated Gas P
Pernis HVO The Netherlands 100 Biofuels  Oil Products P
QGC SW20+ Measure Australia 62 maintain capacity  Integrated Gas P
Rydberg Deep United States 57 30  Deep Water P
Sururu 1 [B] Brazil 24 140  Deep Water
Tanzania Tanzania 30 [C] 12  Integrated Gas P
Val d’Agri Wave 3 Italy 39 70  Conventional Oil and Gas
26
Pre-FID options (2)
[A] Direct and indirect share. [B] The Brazil accumulations are subject to unitisation agreements; production shown is FPSO oil capacity as per operator. [C] To be confirmed.
Shell share potential: >1000 kboe/d
>12 mtpa LNG
~2 GW

27. Royal Dutch Shell | July 30, 2020 27
H1 2020 global LNG demand H1 2020 global LNG supply
Global LNG demand below expectation due to unprecedented market conditions
Europe absorbed incremental LNG supply as Asian demand weakened
Source: Shell interpretation of IHS Markit 2019, Chinese customs and Kpler H1 2020 data.
0
40
80
120
160
Asia Europe Rest of world
0
20
40
60
80
Australia US Russia Qatar Rest of world
MT MT
ForecastActual ForecastActual

28. Royal Dutch Shell | July 30, 2020 28
BCM
Russian pipe gas exports1
BCM
US production and LNG feedgas
MT
Rest of world LNG supply
Changing market conditions triggering a global supply response
Source: Shell interpretation of pipeline flows data from TSOs publications, US Energy Information Administration and Kpler H1 2020 data. 1 Exports targets are for
Gazprom “far abroad” countries (EU35, excluding exports to Estonia, Latvia and Lithuania), volumes expressed in Russian Gas calorific value.
0
50
100
150
200
2019 2020
70
73
76
79
82
85
-
3
6
9
12
15
Jun-18 Dec-18 Jun-19 Dec-19 Jun-20
-8%
-4%
0%
4%
8%
0
10
20
30
40
Jan Feb Mar Apr May Jun
Actual Previous target (Feb 2020)
Current target (April 2020)
Sabine Pass Cove Point
Freeport ElbaCameron
Corpus Christi Oceania SE Asia
Africa South AmericaEurope & Russia
Middle East
Gas production (RHS) YoY growth (RHS)

29. Royal Dutch Shell | July 30, 2020 29
LNG supply growth range by country LNG demand growth range by region
Reduced supply growth expected globally
Revised outlook for 2020 global LNG market
Source: Shell interpretation of IHS Markit, Wood Mackenzie, Poten & Partners 2019 and H1 2020 data.
MTPA MTPA
Post-COVID rangePre-COVID range
-15
-10
-5
0
5
10
15
20
25
Australia US Russia Others
-15
-10
-5
0
5
10
15
20
25
Asia Europe Americas Middle East & Africa
Post-COVID rangePre-COVID range Actual H1 YTD (MT)