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ROYAL DUTCH SHELL PLC BUILDING NEW HEARTLANDS SECOND QUARTER 2008 RESULTS 31 JULY 2008 ROYAL DUTCH SHELL PLC BUILDING NEW HEARTLANDS JEROEN VAN DER VEER CHIEF EXECUTIVE DEFINITIONS AND CAUTIONARY NOTE Reserves: Our use of the term “reserves” in this presentation means SEC proved oil and gas reserves and SEC proven mining reserves. Resources: Our use of the term “resources” in this presentation includes quantities of oil and gas not yet classified as SEC proved oil and gas reserves or SEC proven mining reserves. Resources are consistent with the Society of Petroleum Engineers 2P and 2C definitions. Organic: Our use of the term Organic includes SEC proved oil and gas reserves and SEC proven mining reserves excluding changes resulting from acquisitions, divestments and year-end pricing impact. In this presentation, excluding in the financial statements, we have aggregated our equity position in projects for both direct and indirect interest (for example, we have aggregated our indirect interest in North West Shelf LNG via our 34% shareholding in Woodside Energy Ltd). This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘probably’’, ‘‘project’’, ‘‘will’’, ‘‘seek’’, ‘‘target’’, ‘‘risks’’, ‘‘goals’’, ‘‘should’’ and similar terms and phrases. Also included as a forward looking statement is our disclosure of reserves, proved oil and gas reserves, proven mining reserves, organic reserves, net reserves and resources. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentation, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this presentation are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended December 31, 2007 (available at www.shell.com/investor and www.sec.gov ). These factors also should be considered by the reader. Each forward-looking statement speaks only as of July 31, 2008. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this presentation. 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 may use certain terms in this announcement that the SEC's guidelines strictly prohibit us from including in filings with the SEC. US Investors are urged to consider closely the disclosure in our Form 20-F, File No 001-32575 and disclosure in our Forms 6-K, File No 001-32575, available on the SEC’s website www.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330. 2 Q2 2008 HIGHLIGHTS COMPETITIVE RESULTS • CCS earnings $7.9 billion; EPS +15%* • Strong oil & gas prices; weaker downstream environment • Good operating performance INVESTING IN NEW ENERGY SUPPLIES • Building new capacity: 1mboe/d upstream, 0.3mb/d downstream • Increased spending in new growth options; increased disposals STRATEGY ON TRACK • Maintaining capital discipline; creating long-term shareholder value • Competitive cash flow + shareholder returns 3 * EPS excluding Identified Items KEY PROJECTS UNDER CONSTRUCTION PERDIDO SPAR HULL SAKHALIN II LNG TRAIN 1 GJOA CORRIB AOSP N AMERICA TIGHT GAS PORT ARTHUR PERDIDO URSA/PRINCESS WATERFLOOD HALFDAN PHASE IV KASHAGAN SAKHALIN II QATARGAS 4 PEARL GTL GUMUSUT OMAN NIGERIA AFAM BC-10 SINGAPORE CHEMICALS NORTH RANKIN B PLUTO NWS T5 / ANGEL 2008-09 START-UP BC-10 FPSO 4 OIL & GAS REFINING & CHEMICALS NWS LNG TRAIN 5 INTEGRATED UPSTREAM/DOWNSTREAM EXPLORATION & BUSINESS DEVELOPMENT H1 2008 UPDATE CCS WEYBURN-MIDALE CHUKCHI IOGEN BIOFUELS SWITZERLAND RETAIL CHINA REFINERY & PETROCHEMICALS LOI VIRENT BIOFUELS TECHNOLOGY DUVERNAY OFFER USA HAYNESVILLE HYDROGEN LA GULF OF MEXICO USA STONES NIGERIA DEEPWATER BRUNEI MLJ2-06 AUSTRALIA IAGO-2 ARROW COAL BED METHANE COLOMBIA LLANOS ESTE PERU MOU BPZ EXMOUTH DRILLING: 5 DISCOVERY APPRAISAL SUCCESS NEW POSITIONS: UPSTREAM DOWNSTREAM NEW ACREAGE SHELL & TIGHT GAS PERFORMANCE: PINEDALE KBOE/DAY 50 DAYS 60 OPTIMISED SURFACE FACILITIES 40 50 > 4 KM DEPTH SHARED PRODUCTION FACILITY ON SURFACE PAD: ~1 KM RADIUS 30 40 20 30 MULTIPLE WELLS FROM ONE PAD 10 20 SANDSTONE GAS RESERVOIRS 0 2002 2003 2004 2005 2006 2007 H1 2008 10 PRODUCTION PER DAY (KBOE/D) DRILLING TIME PER WELL (DAYS) 6 ROYAL DUTCH SHELL PLC BUILDING NEW HEARTLANDS PETER VOSER CHIEF FINANCIAL OFFICER PRICES AND MARGINS OIL & GAS PRICES $/BBL 130 120 110 100 90 80 70 60 Q207 Q307 Q407 Q108 Q208 REFINING MARGINS $/MMBtu $/BBL 12 11 10 9 8 7 6 5 28 24 20 16 12 8 4 0 CHEMICALS MARGINS* $/T 700 600 500 400 300 200 100 0 Q207 Q307 Q407 Q108 Q208 Q207 Q307 Q407 Q108 Q208 BRENT WTI JCC* HENRY HUB ($/MMBtu) US WEST COAST US GULF COAST ROTTERDAM SINGAPORE US ETHANE WESTERN EUROPE NAPHTHA NORTH EAST ASIA NAPHTHA * Q2 2008 indicative: based on available prices/margins at the end of the quarter. 8 Q2 2008 FINANCIAL HIGHLIGHTS $ BLN EARNINGS ($ BLN) - EXPL. & PRODUCTION - GAS & POWER - OIL SANDS - OIL PRODUCTS - CHEMICALS BUSINESS SEGMENTS TOTAL Q2 08 5.8 0.6 0.4 0.9 0.1 7.7 Q2 07 2.9 0.5 0.2 2.7 0.5 6.9 Q2 2008 VERSUS Q2 2007 ($ BILLION) 10 9 8 NET EARNINGS EARNINGS PER SHARE ($) DIVIDEND PER SHARE ($) 7.8 1.27 0.40 6.9 1.10 0.36 7 6 Q2 08 CASH FROM OPERATIONS* SHARE BUY BACKS DIVIDENDS NET CAPITAL SPENDING * Excluding working capital movements. 9 Q2 07 10.6 0.9 2.3 (0.5) Q 15.9 1.4 2.5 5.7 5 4 M EA M IN 7 20 EA M Q 20 8 ST R ST R UP W DO Earnings CCS basis, Earnings and EPS excl. Identified Items CO RP N .& UPSTREAM PERFORMANCE EARNINGS $ BILLION 7 6 3 5 4 2 3 2 1 0 0 Q207 Q307 Q407 Q108 Q208 OIL & GAS PRODUCTION MLN BOE/D 4 MLN TONNES 4 3 2 1 1 Q207 Q307 Q407 Q108 Q208 0 EXPLORATION & PRODUCTION GAS & POWER 10 Excluding Identified Items OIL SANDS OIL GAS EQUITY LNG SALES (MLN TONNES) DOWNSTREAM PERFORMANCE CCS EARNINGS $ BILLION 4 % AVAILABILITY 100 AVAILABILITY AND SALES VOLUMES VOLUME 7 3 95 6 2 90 5 1 85 4 0 Q207 Q307 Q407 Q108 Q208 80 Q207 Q307 Q407 Q108 Q208 3 OIL PRODUCTS 11 Excluding Identified Items CHEMICALS REFINERY AVAILABILITY CHEMICALS AVAILABILITY OIL PRODUCT SALES (MLN BBLS/D) CHEMICALS SALES (MLN TONNES) DISPOSALS STRATEGY ON TRACK H1 2008 UPDATE CUMULATIVE DIVESTMENT PROCEEDS $ BILLION 30 RAINBOW PIPELINE EUROPE UPSTREAM BEB H1 2008 PERFORMANCE 25 20 FRENCH REFINERIES BOOMVANG 15 10 NIGERIA OFFSHORE NWS OIL ASSETS 5 0 2004 UPSTREAM 2005 2006 2007 H108 ANNOUNCED UPSTREAM COMPLETED DOWNSTREAM OTHER DOWNSTREAM 12 CASH PERFORMANCE BUSINESS CASH $ BILLION 40 35 30 USES GROUP CASH $ BILLION DOWNSTREAM UPSTREAM 60 SOURCES SOURCES ASSET SALES CORPORATE USES 50 25 20 SOURCES 40 DOWNSTREAM ACQUISITIONS PAYOUT 30 15 10 USES 20 UPSTREAM ORGANIC CAPITAL SPENDING 5 0 EXPLORATION & :PRODUCTION GAS & POWER OIL SANDS 13 OIL PRODUCTS CHEMICALS ASSET SALES ACQUISITIONS 10 0 ORGANIC CAPITAL SPENDING Rolling 12 months, excluding working capital movements. CAPITAL SPENDING UPDATE NET CAPITAL SPENDING ($ BLN) 2007 H1 2008 ORGANIC ACQUISITIONS DISPOSALS NET CAPITAL SPENDING 25.5 8.2 (9.9) 23.8 13.4 2.7 (2.7) 13.4 2008E ~30-31 ~10 ~ (5) ~35-36 10% 15% DEBT RATIOS (%) 20% •INCREASED A&D •2008 DRILLING OPPORTUNITIES 5% 0% •INDUSTRY INFLATION + FX 2005 2006 2007 H108 NET DEBT INCLUDING OFF-BALANCE SHEET ITEMS 14 DELIVERING STRONG RETURNS COMPETITIVE PAY-OUT (CUMULATIVE) $ BILLION 70 COMPETITIVE GROWTH & RETURNS $ BLN 35 RETURN % 35% 60 50 40 30 20 10 0 2004 2005 2006 2007 H1 '08 30 30% 25 25% 20 20% 15 15% 10 10% 5 5% 0 2004 2005 2006 2007 H1'08 0% DIVIDEND 15 SHARE BUY-BACK ROACE RETURN ON CAPITAL IN SERVICE CAPITAL UNDER CONSTRUCTION UPSTREAM DOWNSTREAM Q2 2008 HIGHLIGHTS COMPETITIVE RESULTS • CCS earnings $7.9 billion; EPS +15%* • Strong oil & gas prices; weaker downstream environment • Good operating performance INVESTING IN NEW ENERGY SUPPLIES • Building new capacity: 1mboe/d upstream, 0.3mb/d downstream 2008-09 capacity increase >250kboe/d + 3.6mtpa LNG • Increased spending in new growth options; increased disposals • • 2008 net spending +$10 billion to $35-$36 billion; ~50% increase from 2007 STRATEGY ON TRACK • Maintaining capital discipline; creating long-term shareholder value • Competitive cash flow + shareholder returns • 16 $3.8 billion returned to shareholders H1 2008 * EPS excluding Identified Items ROYAL DUTCH SHELL PLC BUILDING NEW HEARTLANDS Q&A ROYAL DUTCH SHELL PLC BUILDING NEW HEARTLANDS SECOND QUARTER 2008 RESULTS 31 JULY 2008 APPENDIX: KEY PROJECTS START UP PROJECT COUNTRY SHELL SHARE % 30 50 22.3 35.4 27.5 45.4 60 55 45 30 30 12 46 34 100 31 34 30 100 50 33 16.8 22.3 PEAK LNG 100% PRODUCTS PRODUCTION CAPACITY kboe/d mtpa 46 100 145 130 395 30 100 59 58 82 160 107 23 44 320 124 44 280 325 135 300 465 CATEGORY SHELL OPERATED 2008- 2009 AFAM GAS SUPPLY BC 10 NW SHELF LNG T5 /ANGEL PERDIDO SAKHALIN II /LNG T1-2 URSA PRINCESS WATERFLOOD AOSP EXP 1 BONGA NW CORRIB FORCADOS YOKRI IP GBARAN UBIE PH 1 GJOA HALFDAN PH4 HARWEEL PEARL PLUTO LNG QARN ALAM EOR QATARGAS 4 LNG SHELL EASTERN PETROCHEMICALS PORT ARTHUR REFINERY EXPANS. GUMUSUT-KAKAP KASHAGAN PHASE 1 NORTH RANKIN B AMAL STEAM AOSP BONGA SW BISENI SAMABRI FOD CAESAR/TONGA GBARAN UBIE PH 2 GORGON LNG KASHAGAN PH 2&3 NIGERIA BRAZIL AUSTRALIA USA RUSSIA USA CANADA NIGERIA IRELAND NIGERIA NIGERIA NORWAY DENMARK OMAN QATAR AUSTRALIA OMAN QATAR SINGAPORE USA MALAYSIA KAZAKHSTAN AUSTRALIA 4.4 9.6 2010-2011 140 kbbls/d GTL+ 4.3 7.8 800 kta ethylene+ DS DS 2012+ CHOICES OMAN CANADA NIGERIA NIGERIA USA NIGERIA AUSTRALIA KAZAKHSTAN NIGERIA LNG T7 OLOKOLA LNG PEACE RIVER / CARMON CREEK TEMPA ROSSA VAL D’AGRI NIGERIA NIGERIA CANADA ITALY ITALY PSC volumes shown on a gross basis ONSTREAM TRADITIONAL LNG DEEPWATER TIGHT/SOUR GTL HEAVY OIL & EOR 19

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