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Shell On Track To Deliver Growth Targets For 50%-80% Cashflow By 2012

SEPTEMBER 9, 2011

LONDON (Dow Jones)–Royal Dutch Shell PLC (RDSA.LN), Friday confirmed that it has made solid progress in starting up three world-class oil & gas projects in 2011, which at peak will add some 400,000 barrels oil equivalent, and is on track to deliver its strategic targets for 50-80% growth in cash flow from operations from 2009 to 2012.

MAIN FACTS:

-Shell’s three-year strategic plan, outlined in 2010, is building the foundations for profitable growth for shareholders in the future.

-The company is improving near-term competitive performance, and delivering a new wave of production growth.

-Shell’s decision to maintain investment in new projects in the 2009 downturn is driving growth in the company.

-In Canada oil sands, the company has progressed with ramping-up of the expansion project at its Scotford Upgrader, and ASOP-1 recently reached its full production level of 100,000 barrels per day.

-In Qatar, the Qatargas 4 LNG project reached production plateau earlier this year. Ramp up of Train 1 of the Pearl GTL project continues to make good progress, with Train 2 on track for start-up before year- end, as planned.

-These three projects, representing some $30 billion of investment, underpin our targets for financial and production growth to 2012.

-The company is on track to deliver strategic targets for 50-80% growth in cash flow from operations from 2009 to 2012, driven by cost savings, operating performance, and an 11% increase in oil & gas production from one of the most substantial portfolios of new oil & gas projects in the industry Friday.

-Building on this growth, the company has launched 14 further Upstream projects so far in 2010-11, which have a expected peak production of some 400,000 barrels oil equivalent per day for Shell in the medium term, and underpinning the company’s longer-term growth potential.

-In Downstream, as the company completes a major phase of asset sales, it is consolidating this reshaped portfolio, focusing on operating performance, and investing in selective growth, for example recently forming the Ra??zen biofuels and marketing joint venture in Brazil.

-The scale and integration of projects such as Pearl GTL, Ra??zen biofuels and Prelude floating LNG are a solid platform to create long term value for shareholders.

-Shares at 1315 GMT down 10 pence, or 0.5%, at GBP20.49, valuing the company at GBP74.19 billion.

-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [email protected]

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