Royal Dutch Shell Plc: 3rd Quarter 2013 Unaudited Results

THE HAGUE, The Netherlands, October 31, 2013 /PRNewswire/ --

- Royal Dutch Shell's (NYSE: RDS.A) (NYSE: RDS.B) third quarter 2013 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $4.2 billion compared with $6.2 billion in the same quarter a year ago.

- Third quarter 2013 CCS earnings excluding identified items (see page 5) were $4.5 billion compared with $6.6 billion in the third quarter of 2012.

- Compared with the third quarter 2012, CCS earnings excluding identified items were impacted by significantly weaker industry refining conditions, increased Upstream operating expenses and exploration expenses, as well as production volume impacts from maintenance and asset replacement activities. Earnings also reflected the impact of the challenging operating environment in Nigeria and lower dividends from an LNG venture. This was partly offset by higher contributions from Chemicals and increased underlying Upstream production volumes, led by Integrated Gas.

- Basic CCS earnings per share excluding identified items decreased by 32% versus the third quarter 2012.

- Cash flow from operating activities for the third quarter 2013 was $10.4 billion, compared with $9.5 billion in the same quarter last year. Excluding working capital movements, cash flow from operating activities for the third quarter 2013 was $9.9 billion, compared with $11.7 billion in the third quarter 2012.

- Capital investment for the third quarter 2013 was $9.7 billion. Net capital investment (see Note 1) for the quarter was $9.4 billion.

- Total dividends distributed in the quarter were $2.8 billion, of which $1.2 billion were settled under the Scrip Dividend Programme. During the third quarter some 45.5 million shares were bought back for cancellation for a consideration of $1.5 billion.

- Gearing at the end of the third quarter 2013 was 11.2%.

- A third quarter 2013 dividend has been announced of $0.45 per ordinary share and $0.90 per American Depositary Share ("ADS"), an increase of 5% compared with the third quarter 2012.

    Summary of unaudited results

             Quarters                   $ million              Nine months
      Q3       Q2     Q3
     2013     2013 2012[1] %[2]                             2013   2012[1]  %

                                Income attributable to
     4,677   1,737   7,164 -35  shareholders                14,590  19,984 -27
                                Current cost of supplies
                                (CCS) adjustment for
     (429)     657 (1,012)      Downstream                       3   (171)
     4,248   2,394   6,152 -31  CCS earnings                14,593  19,813 -26
     (209) (2,206)   (432)      Less: Identified items[3]  (1,984)     193
                                CCS earnings excluding
     4,457   4,600   6,584 -32  identified items            16,577  19,620 -16
                                Of which:
     3,466   3,526   4,909      Upstream                    12,640  15,706
       892   1,168   1,735      Downstream                   3,908   4,153
                                Corporate and
        99    (94)    (60)      Non-controlling interest        29   (239)

                                Cash flow from operating
    10,409  12,444   9,483 +10  activities                  34,412  36,227  -5

                                Basic CCS earnings per
      0.68    0.38    0.98 -31  share ($)                     2.32    3.17 -27
                                Basic CCS earnings per ADS
      1.36    0.76    1.96      ($)                           4.64    6.34
                                Basic CCS earnings per
                                share excl. identified
      0.71    0.73    1.05 -32  items ($)                     2.63    3.14 -16
                                Basic CCS earnings per ADS
      1.42    1.46    2.10      excl. identified items ($)    5.26    6.28

      0.45    0.45    0.43  +5  Dividend per share ($)        1.35    1.29  +5
      0.90    0.90    0.86      Dividend per ADS ($)          2.70    2.58

    [1] Restated for accounting policy change (see Note 2)

    [2] Q3 on Q3 change

    [3] See page 5


Royal Dutch Shell Chief Executive Officer Peter Voser commented:

"Our cash flow pays for Shell's dividends and investment in new projects to ensure affordable and reliable energy supplies for our customers, and to add value for our shareholders.

We are facing headwinds from weak industry refining margins, and the security situation in Nigeria, which continue to erode the near term outlook.

Shell has a strong project flow in place for 2014 and beyond. We have started up a series of new oil and gas fields in the last few months, in deep water, integrated gas, and in our longer-term plays such as Iraq. These new fields are part of a project flow that will drive Shell's cash flow in 2014 and beyond, coming alongside a reduction in net spending next year as we work through a series of acquisitions, and increase the pace of asset sales.

The company is rich with new investment opportunities - in the next few quarters Shell's capital discipline means we will need to make hard choices between the best new investment opportunities from this industry-leading portfolio."

Voser concluded: "Shell's sustained investment in new growth projects will drive our financial performance. Dividends are Shell's main route for returning cash to shareholders. We have distributed more than $11 billion of dividends in the last 12 months. So far this year, we have repurchased more than $4 billion of shares, and we are on track for up to $5 billion of share buybacks in 2013. This underlines our commitment to shareholder returns."


THIRD QUARTER 2013 portfolio developments

Upstream

In Iraq, Shell successfully restarted production at Majnoon (Shell interest 45%) and expects to progressively increase production to the First Commercial Production level of 175 thousand barrels of oil per day ("b/d").

In the United States, Shell acquired an additional 33% interest in the 10 thousand barrels of oil equivalent per day ("boe/d") Coulomb North field in the Gulf of Mexico, giving Shell a 100% interest.

As part of its global exploration programme Shell added new acreage positions during the third quarter 2013, including offshore positions in China and in the Gulf of Mexico, United States.

In Australia, the North Rankin Redevelopment project achieved start-up in October. The project, which is part of the North West Shelf project (Shell direct and indirect interest 20.5%) enables the recovery of low pressure reserves from the North Rankin and Perseus fields.

In Brazil, Shell commenced production from the BC-10 Phase 2 project in October. The project is expected to produce 35 thousand boe/d at peak. Shell also exercised preferential rights to acquire an additional 23% interest in the BC-10 project. Subject to regulatory approvals, the transaction is expected to close end 2013 or early 2014, increasing Shell's interest from 50% to 73%.

Also in October, a consortium of companies in which Shell holds a 20% interest won a 35-year production sharing contract to develop the Libra pre-salt oil discovery located in the Santos Basin, offshore Brazil. The Brazilian regulator ANP estimates Libra's recoverable resources to be between 8 and 12 billion barrels of oil and estimates that total gross peak oil production could reach 1.4 million b/d. Further appraisal is required to firm up this estimate, the development concept and a first oil date. As part of the winning bid, Shell expects to pay some $1.4 billion as its share of the signature bonus during the fourth quarter of 2013.

In Canada, Shell took the final investment decision for Phase 1 and 2 of the Carmon Creek In-situ project (Shell interest 100%).  The project will include central processing facilities and well pads with peak annual production of 80 thousand barrels of bitumen production per day, with an expected field life of decades.

Downstream

Shell divested the majority of its shareholding in its downstream business in Ghana.

Key features of the THIRD quarter 2013

Third quarter 2013 CCS earnings (see Note 1) were $4,248 million, 31% lower than for the same quarter a year ago.

Third quarter 2013 CCS earnings excluding identified items (see page 5) were $4,457 million compared with $6,584 million in the third quarter 2012, a decrease of 32%. Third quarter 2013 CCS earnings excluding identified items were impacted by significantly weaker refining industry conditions, increased Upstream operating expenses and exploration expenses, as well as production volume impacts from maintenance and asset replacement activities. Earnings also reflected the impact of the challenging operating environment in Nigeria and lower dividends from an LNG venture. This was partly offset by higher contributions from Chemicals and increased underlying Upstream production volumes, led by Integrated Gas.

Basic CCS earnings per share decreased by 31% versus the same quarter a year ago.

Basic CCS earnings per share excluding identified items decreased by 32% versus the same quarter a year ago.

Cash flow from operating activities for the third quarter 2013 was $10.4 billion, compared with $9.5 billion in the same quarter last year. Excluding working capital movements, cash flow from operating activities for the third quarter 2013 was $9.9 billion, compared with $11.7 billion in the same quarter last year.

Net capital investment (see Note 1) for the third quarter 2013 was $9.4 billion. Capital investment for the third quarter 2013 was $9.7 billion and divestment proceeds were $0.3 billion. Net capital investment for the full year 2013 is expected to be around $45 billion, including some $3 billion of non-cash items. These estimates include some $10 billion of announced acquisitions, including the impact of the agreement to acquire part of Repsol's LNG portfolio, our pre-emption for an additional interest in the BC-10 project and the entry into the Libra discovery, both in deepwater in Brazil. The final outcome for the year will be determined by the timing of completion of these transactions, and Shell's asset sales programme.

Total dividends distributed in the third quarter 2013 were $2.8 billion, of which $1.2 billion were settled by issuing some 39.1 million A shares under the Scrip Dividend Programme for the second quarter 2013.

Under our share buyback programme some 45.5 million B shares were bought back for cancellation during the third quarter 2013 for a consideration of $1.5 billion.

Return on average capital employed (see Note 9) on a reported income basis was 10.4% at the end of the third quarter 2013 compared with 13.5% at the end of the third quarter 2012 (see Note 2).

Gearing was 11.2% at the end of the third quarter 2013 versus 9.1% at the end of the third quarter 2012 (see Note 2).

Oil and gas production for the third quarter 2013 was 2,931 thousand boe/d, a decrease of 2% compared with the third quarter 2012. The deteriorated operating environment in Nigeria impacted production volumes by some 65 thousand boe/d compared with the third quarter 2012. Excluding the impact of the deteriorated operating environment in Nigeria, divestments and PSC price effects, third quarter 2013 production volumes were 1% higher than in the same period last year. Production volumes were also impacted by higher maintenance and asset replacement activities.

Equity LNG sales volumes of 4.88 million tonnes for the third quarter 2013 were 2% lower than in the same quarter a year ago. Excluding the impact of the challenging operating environment in Nigeria, equity LNG sales volumes were 4% higher than in the third quarter 2012.

Oil products sales volumes for the third quarter 2013 were 2% higher than for the third quarter 2012. Chemicals sales volumes for the third quarter 2013 decreased by 2% compared with the same quarter a year ago.

Comparative information in this Report has been restated following the adoption of revised IAS 19 Employee Benefits on January 1, 2013, with retrospective effect (see Note 2). Comparative information was not restated for other accounting policy changes (see Note 1) for which the impacts are not significant, including the adoption of IFRS 11 Joint Arrangements on January 1, 2013, which results in certain previously equity-accounted entities now in effect being proportionately consolidated.

Supplementary financial and operational disclosure for the third quarter 2013 is available at http://www.shell.com/investor.


Summary of identified items

Earnings for the third quarter 2013 reflected the following items, which in aggregate amounted to a net charge of $209 million (compared with a net charge of $432 million in the third quarter 2012), as summarised in the table below:

Upstream earnings included a net charge of $176 million, reflecting impairments of $234 million, predominantly related to various offshore properties in North America. This was partly offset by the net impact of fair value accounting of commodity derivatives and certain gas contracts of $20 million and a net gain of $38 million from other items. Other items mainly reflected a credit related to statutory tax rate reductions. Upstream earnings for the third quarter 2012 included a net charge of $298 million.

Downstream earnings included a net gain of $14 million, reflecting the net impact of fair value accounting of commodity derivatives of $72 million and net divestment gains of $42 million. This was partly offset by impairments of $24 million and a net charge of $76 million from other items. Other items mainly reflected a write-off of a deferred tax asset, partly offset by a credit related to statutory tax rate reductions. Downstream earnings for the third quarter 2012 included a net charge of $134 million.

Corporate results and Non-controlling interest included a net charge of $47 million, mainly reflecting an adjustment of a tax receivable, partly offset by a credit related to statutory tax rate reductions. Earnings for the third quarter 2012 did not include any identified items.

    Summary of Identified Items

           Quarters                    $ million              Nine months

    Q3 2013 Q2 2013 Q3 2012                                   2013    2012
                            Segment earnings impact of
                            identified items:
      (176) (1,845)   (298) Upstream                         (1,848)    336
         14   (365)   (134) Downstream                         (511)    128
                            Corporate and Non-controlling
       (47)       4       - interest                             375  (271)
      (209) (2,206)   (432) Earnings impact                  (1,984)    193



These identified items are shown to provide additional insight into segment earnings and income attributable to shareholders. From the first quarter 2013 onwards, identified items include the full impact on Shell's CCS earnings of the following items:

- Divestment gains and losses

- Impairments

- Fair value accounting of commodity derivatives and certain gas contracts (see Note 8)

- Redundancy and restructuring

Further items may be identified in addition to the above. Prior period comparatives have not been restate

Earnings by Business segment

    UPSTREAM

              Quarters                    $ million             Nine months
    Q3 2013 Q2 2013 Q3 2012 %[2]                              2013   2012   %

                                 Upstream earnings excluding
      3,466   3,526   4,909 -29  identified items[1]         12,640 15,706 -20
      3,290   1,681   4,611 -29  Upstream earnings[1]        10,792 16,042 -33

                                 Upstream cash flow from
      6,709   8,143   8,278 -19  operating activities        24,557 26,896 -9

                                 Upstream net capital
      8,148   9,549   6,932 +18  investment                  25,067 15,997 +57

                                 Liquids production
                                 available for sale
      1,485   1,502   1,599  -7  (thousand b/d)               1,541  1,631 -6
                                 Natural gas production
                                 available for sale (million
      8,383   9,050   8,022  +5  scf/d)                       9,511  9,167 +4
                                 Total production available
      2,931   3,062   2,982  -2  for sale (thousand boe/d)    3,181  3,211 -1

                                 Equity LNG sales volumes
       4.88    4.68    4.97  -2  (million tonnes)             14.71  14.71  -

    [1] Third quarter 2012 and nine months 2012 comparatives restated
    for accounting policy change (see Note 2)

    [2] Q3 on Q3 change


Third quarter Upstream earnings excluding identified items were $3,466 million compared with $4,909 million a year ago. Identified items were a net charge of $176 million, compared with a net charge of $298 million in the third quarter 2012 (see page 5).

Third quarter 2013 Upstream earnings excluding identified items were reduced by some $300 million due to the impact of the deteriorated security situation onshore Nigeria and a blockade of Nigeria LNG. In comparison, the third quarter 2012 included an additional dividend from an LNG venture of some $200 million.

Compared with the third quarter 2012, earnings were also impacted by higher operating expenses, higher exploration expenses, maintenance activities and increased depreciation. LNG realisations and gas realisations outside of the Americas were lower. Earnings benefited from the ramp-up of Pearl GTL in Integrated Gas and, in the Americas, higher liquids realisations and increased production volumes from liquids-rich shale properties.

Upstream operating expenses included higher feasibility expenses for projects in the pre-final investment decision stage, higher decommissioning and restoration costs and increased maintenance costs. Exploration expenses increased mainly due to exploration well write-offs.

Upstream Americas excluding identified items continued to incur a loss.

Global liquids realisations were 2% lower than for the third quarter 2012. In Canada, synthetic crude oil realisations were 26% higher than for the same period last year. Global natural gas realisations were 2% lower than for the same quarter a year ago, with a 22% increase in the Americas and a 5% decrease outside the Americas.

Third quarter 2013 production was 2,931 thousand boe/d compared with 2,982 thousand boe/d a year ago. Liquids production decreased by 7% and natural gas production increased by 5% compared with the third quarter 2012. The deteriorated operating environment in Nigeria impacted production volumes by some 65 thousand boe/d compared with the third quarter 2012. Excluding the impact of the deteriorated operating environment in Nigeria, divestments and PSC price effects, third quarter 2013 production was 1% higher than for the same period last year. Production volumes were also impacted by some 60 thousand boe/d compared with the third quarter 2012 due to higher maintenance and asset replacement activities.

New field start-ups and the continuing ramp-up of existing fields, in particular Pearl GTL in Qatar and Eagle Ford in the United States, contributed some 180 thousand boe/d to production for the third quarter 2013, which more than offset the impact of field declines.

Equity LNG sales volumes of 4.88 million tonnes decreased by 2% compared with the same quarter a year ago, reflecting lower volumes from Nigeria LNG, partly offset by better operating performance at various other LNG plants. Shell-share Nigeria LNG volumes were some 0.28 million tonnes lower in the third quarter 2013 due to reduced feedgas supply, as a result of the deteriorated security situation onshore, and due to a blockade of Nigeria LNG operations by the Nigerian Maritime Administration and Safety Agency in July. Excluding the impact of the challenging operating environment in Nigeria, equity LNG sales volumes were 4% higher than in the third quarter 2012.

    DOWNSTREAM

              Quarters                    $ million             Nine months
    Q3 2013 Q2 2013 Q3 2012 %[2]                              2013   2012   %

                                 Downstream CCS earnings
                                 excluding identified
        892   1,168   1,735 -49  items[1]                     3,908  4,153  -6
        906     803   1,601 -43  Downstream CCS earnings[1]   3,397  4,281 -21

                                 Downstream cash flow from
      2,969   3,761     335 +786 operating activities         7,095  6,808  +4

                                 Downstream net capital
      1,166   1,328   1,051 +11  investment                   3,314  2,804 +18

                                 Refinery processing intake
      2,947   2,914   2,880  +2  (thousand b/d)               2,917  2,824  +3

                                 Oil products sales volumes
      6,398   6,212   6,290  +2  (thousand b/d)               6,206  6,191   -

                                 Chemicals sales volumes
      4,620   4,211   4,699  -2  (thousand tonnes)           12,974 14,049  -8

    [1] Third quarter 2012 and nine months 2012 comparatives restated
    for accounting policy change (see Note 2)

    [2] Q3 on Q3 change


Third quarter Downstream earnings excluding identified items were $892 million compared with $1,735 million for the third quarter 2012. Identified items were a net gain of $14 million, compared with a net charge of $134 million for the third quarter 2012 (see page 5).

Compared with the third quarter 2012, Downstream earnings excluding identified items benefited from increased contributions from Chemicals and Oil Products retail, reflecting strong performance from these businesses. This was more than offset by significantly lower realised refining margins as well as lower contributions from trading.

Realised refining margins reflected significantly weaker refining industry conditions in all regions due to structural global overcapacity and weak demand. Contributions from refineries in North America were also impacted by the narrowing price differential between North American crude oil markers and the Brent crude oil marker, as well as maintenance activities. Contributions from Chemicals increased as a result of strong operating performance in all regions and improved industry conditions in the United States and Europe.

Oil products sales volumes increased by 2% compared with the same period a year ago, mainly as a result of increased trading volumes and an accounting policy change (see Note 1b), partly offset by lower marketing volumes.

Chemicals sales volumes decreased by 2% compared with the same quarter last year, mainly as a result of an
accounting policy change (see Note 1b) and contract expirations, partly offset by higher trading volumes. Chemicals manufacturing plant availability increased to 96% from 89% for the third quarter 2012, as a result of strong operating performance and lower planned maintenance.

Refinery intake volumes were 2% higher compared with the same quarter last year, mainly as a result of an accounting policy change (see Note 1b). Refinery availability was 93%, compared with 92% for the third quarter 2012.

    Corporate and Non-controlling Interest

           Quarters                       $ million               Nine months
    Q3 2013 Q2 2013 Q3 2012                                        2013  2012

                            Corporate and Non-controlling
         99    (94)    (60) interest excl. identified items[1]        29 (239)
                            Of which:
        135    (77)      15 Corporate[1]                             146  (51)
       (36)    (17)    (75) Non-controlling interest               (117) (188)

                            Corporate and Non-controlling
         52    (90)    (60) interest[1]                              404 (510)

    [1] Third quarter 2012 and nine months 2012 comparatives restated for
    accounting policy change (see Note 2)


Third quarter Corporate results and Non-controlling interest excluding identified items were a gain of $99 million, compared with a loss of $60 million in the same period last year. Identified items for the third quarter 2013 were a net charge of $47 million, whereas earnings for the third quarter 2012 did not include any identified items (see page 5).

Compared with the third quarter 2012, Corporate results excluding identified items mainly reflected lower net interest expense and lower costs.

FORTHCOMING EVENTS

Fourth quarter 2013 results and fourth quarter 2013 dividend are scheduled to be announced on January 30, 2014. First quarter 2014 results and first quarter 2014 dividend are scheduled to be announced on May 1, 2014. Second quarter 2014 results and second quarter 2014 dividend are scheduled to be announced on July 31, 2014. Third quarter 2014 results and third quarter 2014 dividend are scheduled to be announced on October 30, 2014.

Unaudited Condensed Consolidated Interim Financial Statements

    Consolidated Statement of income

              Quarters                   $ million            Nine months
                       Q3
    Q3 2013 Q2 2013 2012[1]  %[2]                          2013   2012[1]  %

    116,513 112,669  112,118      Revenue                 341,992 349,106
                                  Share of profit of
                                  equity-accounted
      1,515   1,433    2,367      investments               5,251   6,821
                                  Interest and other
        230     246      944      income                      877   3,162
                                  Total revenue and other
    118,258 114,348  115,429      income                  348,120 359,089
     91,842  88,901   87,265      Purchases               267,346 276,375
                                  Production and
      7,416   7,000    6,492      manufacturing expenses   20,874  18,896
                                  Selling, distribution
                                  and administrative
      3,566   3,661    3,676      expenses                 10,814  10,767
                                  Research and
        291     305      310      development                 890     891
      1,636   1,228      713      Exploration               3,512   1,937
                                  Depreciation, depletion
      4,153   7,502    3,875      and amortisation         15,880  10,780
        392     379      415      Interest expense          1,172   1,378
      8,962   5,372   12,683  -29 Income before taxation   27,632  38,065 -27
      4,225   3,631    5,419      Taxation                 12,928  17,861
      4,737   1,741    7,264  -35 Income for the period    14,704  20,204 -27
                                  Income attributable to
                                  non-controlling
         60       4      100      interest                    114     220
                                  Income attributable to
                                  Royal Dutch Shell plc
      4,677   1,737    7,164  -35 shareholders             14,590  19,984 -27

    [1] Restated for accounting policy change (see Note 2)

    [2] Q3 on Q3 change


    Earnings per share

            Quarters                       $               Nine months
                       Q3
    Q3 2013 Q2 2013  2012[1]                               2013  2012[1]

     0.75    0.28     1.14    Basic earnings per share     2.32   3.20
     0.75    0.27     1.14    Diluted earnings per share   2.32   3.19

    [1] Restated for accounting policy change (see Note 2)


    Shares [1]

           Quarters                      Millions                Nine months

    Q3 2013 Q2 2013 Q3 2012                                     2013    2012
                            Weighted average number of shares
                            as the basis for:
    6,269.7 6,313.7 6,266.3 Basic earnings per share           6,297.3 6,253.9
    6,272.5 6,316.9 6,273.9 Diluted earnings per share         6,300.3 6,261.2

                            Shares outstanding at the end of
    6,282.2 6,296.0 6,284.8 the period                         6,282.2 6,284.8

    [1] Royal Dutch Shell plc ordinary shares of EUR0.07 each


Notes 1 to 10 are an integral part of these Condensed Consolidated Interim Financial Statements.

    Consolidated Statement of Comprehensive Income

            Quarters                     $ million               Nine months
                       Q3
    Q3 2013 Q2 2013  2012[1]                                    2013   2012[1]

      4,737   1,741     7,264 Income for the period             14,704  20,204
                              Other comprehensive income, net
                              of tax:
                              Items that may be reclassified
                              to income in later periods:
                              - Currency translation
      1,064 (1,024)     2,163 differences                      (1,612)   1,358
                              - Unrealised losses on
      (154)    (71)      (97) securities                         (194)   (132)
                              - Cash flow hedging
         25     142     (187) gains/(losses)                       180    (70)
                              - Share of other comprehensive
                              (loss)/income of
       (39)    (29)        27 equity-accounted investments       (124)    (43)
        896   (982)     1,906 Total                            (1,750)   1,113
                              Items that are not reclassified
                              to income in later periods:
                              - Retirement benefits
      (557)     584      (37) remeasurements                     1,463    (78)
      (557)     584      (37) Total                              1,463    (78)
                              Other comprehensive
        339   (398)     1,869 income/(loss) for the period       (287)   1,035
                              Comprehensive income for the
      5,076   1,343     9,133 period                            14,417  21,239
                              Comprehensive income/(loss)
                              attributable to non-controlling
         34    (22)       132 interest                              37     254
                              Comprehensive income
                              attributable to Royal Dutch
      5,042   1,365     9,001 Shell plc shareholders            14,380  20,985

    [1] Restated for accounting policy change (see Note 2)


Notes 1 to 10 are an integral part of these Condensed Consolidated Interim Financial Statements.

    Condensed Consolidated balance sheet

                                                       $ million
                                                                     Sept 30,
                                         Sept 30, 2013 June 30, 2013  2012[1]

    Assets
    Non-current assets:
    Intangible assets                            4,348         4,384     4,478
    Property, plant and equipment              186,541       180,863   162,401
    Equity-accounted investments                34,010        33,715    39,033
    Investments in securities                    4,703         4,809     5,492
    Deferred tax                                 5,514         5,097     4,422
    Retirement benefits                          3,205         3,649     3,778
    Trade and other receivables                  9,633         9,115    10,070
                                               247,954       241,632   229,674

    Current assets:
    Inventories                                 29,820        29,024    32,358
    Trade and other receivables                 62,561        62,312    70,972
    Cash and cash equivalents                   14,278        12,540    18,839
                                               106,659       103,876   122,169

    Total assets                               354,613       345,508   351,843

    Liabilities
    Non-current liabilities:
    Debt                                        31,972        28,017    28,078
    Trade and other payables                     4,198         4,094     4,322
    Deferred tax                                11,678        11,950    11,605
    Retirement benefits                         13,738        14,048    13,362
    Decommissioning and other provisions        18,839        17,909    16,262
                                                80,425        76,018    73,629

    Current liabilities:
    Debt                                         5,106         4,954     8,280
    Trade and other payables                    71,988        70,922    77,550
    Taxes payable                               13,110        12,031    14,869
    Retirement benefits                            383           383       399
    Decommissioning and other provisions         3,195         2,979     3,131
                                                93,782        91,269   104,229

    Total liabilities                          174,207       167,287   177,858

    Equity attributable to Royal Dutch
    Shell plc shareholders                     179,147       176,867   172,587

    Non-controlling interest                     1,259         1,354     1,398
    Total equity                               180,406       178,221   173,985

    Total liabilities and equity               354,613       345,508   351,843

    [1] Restated for accounting policy change (see Note 2)


Notes 1 to 10 are an integral part of these Condensed Consolidated Interim Financial Statements

    CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

                         Equity attributable to Royal Dutch Shell
                                     plc shareholders

                              Shares
                       Share  held in  Other   Retained            Non-controlling  Total
        $ million     capital  trust  reserves earnings    Total     interest      equity
    At January 1,
    2013[1]              542 (2,287)  (3,752)  180,246      174,749     1,433     176,182
    Comprehensive
    income
    for the period         -       -    (210)   14,590       14,380        37      14,417
    Capital
    contributions
    from, and other
    changes
    in,
    non-controlling
    interest               -       -        -        -            -         5           5
    Dividends paid         -       -        -  (8,481)      (8,481)     (216)     (8,697)
    Scrip
    dividends[2]           8       -      (8)    2,893        2,893         -       2,893
    Repurchases of
    shares[3]           (10)       -       10  (4,226)      (4,226)         -     (4,226)
    Shares held in
    trust:
    net
    sales/(purchases)
    and dividends
    received               -     322        -       92          414          -        414
    Share-based
    compensation           -       -    (256)    (326)        (582)          -      (582)
    At September 30,
    2013                 540 (1,965)  (4,216)  184,788      179,147      1,259    180,406

    At January 1,
    2012[1]              536 (2,990)  (1,961)  162,895      158,480      1,486    159,966
    Comprehensive
    income for the
    period[1]              -       -    1,001   19,984       20,985        254     21,239
    Capital
    contributions
    from, and other
    changes
    in,
    non-controlling
    interest               -       -        -       36           36        (76)       (40)
    Dividends paid         -       -        -  (8,194)       (8,194)      (266)    (8,460)
    Scrip
    dividends[2]           6       -      (6)    2,438        2,438          -      2,438
    Repurchases of
    shares[3]            (2)     - -        2  (1,815)       (1,815)         -     (1,815)
    Shares held in
    trust:
    net
    sales/(purchases)
    and dividends
    received               -     782        -      114          896           -        896
    Share-based
    compensation           -       -      243    (482)         (239)          -       (239)
    At September 30,
    2012[1]              540 (2,208)    (721)  174,976      172,587       1,398    173,985

    [1] Restated for accounting policy change (see Note 2)

    [2] Under the Scrip Dividend Programme some 88.3 million A shares, equivalent to
    $2.9 billion, were issued during the first nine months 2013 and some 69.6
    million A shares, equivalent to $2.4 billion, were issued during the first nine
    months 2012.

    [3] Includes shares committed to repurchase and repurchases subject to
    settlement at the end of the quarter



Notes 1 to 10 are an integral part of these Condensed Consolidated Interim Financial Statements.

    Condensed Consolidated statement of cash flows

           Quarters                    $ million                Nine months
                      Q3
    Q3 2013 Q2 2013 2012[1]                                    2013   2012[1]

                            Cash flow from operating
                            activities
      4,737   1,741   7,264 Income for the period              14,704   20,204
                            Adjustment for:
      4,965   4,048   5,385 - Current taxation                 13,905   16,756
        354     301     362 - Interest expense (net)            1,012    1,219
                            - Depreciation, depletion and
      4,153   7,502   3,875 amortisation                       15,880   10,780
       (38)    (44)   (428) - Net gains on sale of assets       (295)  (2,145)
                            - Decrease/(increase) in
        551   4,085 (2,209) working capital                     4,670    2,397
                            - Share of profit of
    (1,515) (1,433) (2,367) equity-accounted investments      (5,251)  (6,821)
                            - Dividends received from
                            equity-accounted
      1,307   2,703   2,537 investments                         5,252    7,918
                            - Deferred taxation, retirement
                            benefits, decommissioning

      (907)   (845)   (100) and other provisions              (1,763)      763
        788     784   (205) - Other                             1,599    (352)
                            Net cash from operating
     14,395  18,842  14,114 activities (pre-tax)               49,713   50,719

    (3,986) (6,398) (4,631) Taxation paid                    (15,301) (14,492)

                            Net cash from operating
     10,409  12,444   9,483 activities                         34,412   36,227

                            Cash flow from investing
                            activities
    (8,788) (8,987) (8,413) Capital expenditure              (25,637) (21,902)
                            Investments in equity-accounted
      (352)   (291)   (789) investments                       (1,015)  (2,811)
         79     319     786 Proceeds from sales of assets         780    4,833
                            Proceeds from sales of
        212      63      56 equity-accounted investments          429      283
       (63)   (347)    (26) Other investments (net)             (390)     (56)
         31      71      47 Interest received                     138      140
                            Net cash used in investing
    (8,881) (9,172) (8,339) activities                       (25,695) (19,513)

                            Cash flow from
                            financing activities
                            Net increase/(decrease) in debt
                            with maturity period

        124   (370)     507 within three months                 (113)      302
      4,402     198   2,551 Other debt: New borrowings          4,780    3,295
      (672) (3,556)   (182) Repayments                        (6,413)  (4,682)
      (323)   (176)   (352) Interest paid                       (657)  (1,145)
                            Change in non-controlling
          8       8    (10) interest                                9      (2)
                            Cash dividends paid to:
                            - Royal Dutch Shell plc
    (1,637) (2,043) (1,973) shareholders                      (5,588)  (5,756)
      (136)    (59)   (164) - Non-controlling interest          (216)    (266)
    (1,525) (1,934)   (149) Repurchases of shares             (4,004)  (1,039)
                            Shares held in trust: net
                            (purchases)/sales and dividends
      (189)   (432)    (93) received                            (631)        9
                            Net cash used in financing
         52 (8,364)     135 activities                       (12,833)  (9,284)

                            Currency translation
                            differences relating to cash
                            and

        158      18     278 cash equivalents                    (156)      117
                            Increase/(decrease) in cash and
      1,738 (5,074)   1,557 cash equivalents                  (4,272)    7,547

                            Cash and cash equivalents at
     12,540  17,614  17,282 beginning of period                18,550   11,292

                            Cash and cash equivalents at
     14,278  12,540  18,839 end of period                      14,278   18,839

    [1] Restated for accounting policy change (see Note 2)



Notes 1 to 10 are an integral part of these Condensed Consolidated Interim Financial Statements.

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

1. Basis of preparation

These Condensed Consolidated Interim Financial Statements ("Interim Statements") of Royal Dutch Shell plc and its subsidiaries (collectively known as Shell) have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the European Union and as issued by the International Accounting Standards Board and on the basis of the same accounting principles as, and should be read in conjunction with, the Annual Report and Form 20-F for the year ended December 31, 2012 (pages 103 to 108) as filed with the U.S. Securities and Exchange Commission, except as described below:

  1. Revised IAS 19 Employee Benefits was adopted on January 1, 2013, with retrospective effect (see Note 2).
  2. IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and revised standards IAS 27 Separate Financial Statements and IAS 28 Investments in Associates and Joint Ventures were adopted on January 1, 2013. The standards reinforce the principles for determining when an investor controls another entity and in certain cases amend the accounting for arrangements where an investor has joint control. The impact of the changes on the accounting for Shell's interests is not significant, hence comparative information was not restated; the major investments affected are listed in Note 7.
  3. IFRS 13 Fair Value Measurement was adopted on January 1, 2013, with prospective effect. The standard affects nearly all instances where assets and liabilities are currently recognised at fair value, primarily by refining the measurement concept to represent an asset or liability's exit value. The standard also introduces certain additional considerations to the measurement process and additional disclosures have been provided where considered material (see Note 6). The impact of the changes for Shell is not significant.

The financial information presented in the Interim Statements does not constitute statutory accounts within the meaning of section 434(3) of the Companies Act 2006. Statutory accounts for the year ended December 31, 2012 were published in Shell's Annual Report and a copy delivered to the Registrar of Companies in England and Wales. The auditors' report on those accounts was unqualified, did not include a reference to any matters to which the auditors drew attention by way of emphasis without qualifying the report and did not contain a statement under sections 498(2) or (3) of the Companies Act 2006.

The Interim Statements are unaudited.

Segment information

Segment earnings (see Note 3) are presented on a current cost of supplies basis (CCS earnings). On this basis, the purchase price of volumes sold during the period is based on the current cost of supplies during the same period after making allowance for the tax effect. CCS earnings therefore exclude the effect of changes in the oil price on inventory carrying amounts.

Net capital investment (see Note 10) is defined as capital expenditure as reported in the Condensed Consolidated Statement of Cash Flows, adjusted for: proceeds from disposals (excluding those in the Corporate segment relating to other investments); exploration expense excluding exploration wells written off; investments in equity-accounted investments; and leases and other items.

CCS earnings and net capital investment information are the dominant measures used by the Chief Executive Officer for the purposes of making decisions about allocating resources and assessing performance.

2. Accounting for defined benefit plans

Revised IAS 19 Employee Benefits (IAS 19R) was adopted on January 1, 2013, with retrospective effect; comparative information is therefore restated.

The revised standard requires immediate recognition of actuarial gains and losses and return on assets arising in connection with defined benefit plans through other comprehensive income (see page 10). Previously, Shell applied the corridor method of accounting under which amounts falling inside the corridor remained unrecognised, while amounts falling outside it were recognised (amortised) in income over a number of years. For the periods presented in this Report, the elimination of this amortisation is approximately offset by lower interest income being recognised in income under the IAS 19R "net interest" approach. Under this approach, interest income from defined benefit plan assets is determined based on the same discount rate as applied to measure plan obligations, rather than on an expected rate of return reflecting the plan's investment portfolio.

The following table sets out the impact of the change on relevant lines in the Condensed Consolidated Balance Sheet, on gearing, and on the return on average capital employed (ROACE, see Note 9) for the twelve months ending at the respective balance sheet date.

     $ million            Dec 31, 2012                  Sept 30, 2012

                            Effect of                      Effect of
                     As     accounting              As     accounting
                 previously   policy            previously   policy
                   stated     change   Restated   stated     change   Restated
    Non-current
    assets
    Deferred tax      4,045        243    4,288      4,246        176    4,422
    Retirement
    benefits         12,575   (10,274)    2,301     12,461    (8,683)    3,778

    Non-current
    liabilities
    Deferred tax     15,590    (5,278)   10,312     16,107    (4,502)   11,605
    Retirement
    benefits          6,298      8,992   15,290      6,169      7,193   13,362

    Total equity
    Other
    reserves         10,021   (13,773)  (3,752)     10,448   (11,169)    (721)
    Retained
    earnings        180,218         28  180,246    175,005       (29)  174,976

    Gearing[1]         9.2%       0.6%     9.8%       8.6%       0.5%     9.1%

    ROACE             12.7%       0.9%    13.6%      12.9%       0.6%    13.5%

    [1] Net debt (total debt less cash and cash equivalents) as a
    percentage of total capital (net debt plus total equity)


The effect of the accounting policy change at January 1, 2012 was to reduce Accumulated other comprehensive income (within Other reserves) by $10,945 million, Retained earnings by $92 million and Total equity by $11,037 million.

Income for the third quarter 2012 increased by $25 million, of which Upstream segment earnings increased by $21 million and Downstream segment earnings increased by $4 million. There was no impact on basic and diluted earnings per share for the third quarter 2012 nor on net cash from operating activities.

Income for the first nine months 2012 increased by $63 million of which Upstream segment earnings increased by $58 million and Downstream segment earnings increased by $5 million. Basic and diluted earnings per share for the first nine months 2012 increased by $0.01. There was no impact on net cash from operating activities.

3. Information by business segment

         Quarters                 $ million              Nine months

    Q3 2013  Q3 2012[1]                                 2013   2012[1]

                       Third-party revenue
     11,563     10,028 Upstream                         36,024  32,066
    104,914    102,075 Downstream                      305,857 317,000
         36         15 Corporate                           111      40
    116,513    112,118 Total third-party revenue       341,992 349,106

                       Inter-segment revenue
     11,569     12,338 Upstream                         34,064  38,337
         76        172 Downstream                          477     555
          -          - Corporate                             -       -

                       Segment earnings
      3,290      4,611 Upstream[2]                      10,792  16,042
        906      1,601 Downstream                        3,397   4,281
         88         15 Corporate                           506   (285)
      4,284      6,227 Total segment earnings           14,695  20,038

    [1] Restated for accounting policy change (see Note 2)

    [2] Second quarter 2013 Upstream earnings included an
    impairment charge of $2,071 million after taxation ($3,267
    million before taxation)


         Quarters                     $ million                  Nine months

    Q3 2013 Q3 2012[1]                                          2013   2012[1]

      4,284      6,227 Total segment earnings                   14,695  20,038
                       Current cost of supplies adjustment:
        541      1,130 Purchases                                 (140)     160
      (137)      (294) Taxation                                     53    (51)
                       Share of profit of equity-accounted
         49        201 investments                                  96      57
      4,737      7,264 Income for the period                    14,704  20,204

    [1] Restated for accounting policy change (see Note 2)


4. Share capital

Issued and fully paid

                            Ordinary shares of EUR0.07       Sterling
                                       each                  deferred
                                                          shares of GBP1
      Number of shares           A               B             each

    At January 1, 2013      3,772,388,687   2,617,715,189          50,000
    Scrip dividends            88,288,316               -               -
    Repurchases of shares               -   (117,715,539)               -
    At September 30, 2013   3,860,677,003   2,499,999,650          50,000


Nominal value

                                            Ordinary shares
           $ million               A               B             Total

    At January 1, 2013                  321             221             542
    Scrip dividends                       8               -               8
    Repurchases of shares                 -            (10)            (10)
    At September 30, 2013               329             211             540
    The total nominal value of sterling deferred shares is less than $1
    million.


At Royal Dutch Shell plc's Annual General Meeting on May 21, 2013, the Board was authorised to allot ordinary shares in Royal Dutch Shell plc, and to grant rights to subscribe for or to convert any security into ordinary shares in Royal Dutch Shell plc, up to an aggregate nominal amount of €148 million (representing approximately 2,114 million ordinary shares of €0.07 each), and to list such shares or rights on any stock exchange. This authority expires at the earlier of the close of business on August 21, 2014 and the end of the Annual General Meeting to be held in 2014, unless previously renewed, revoked or varied by Royal Dutch Shell plc in a general meeting.

5. Other reserves

                                                              Accumulated
                                 Share     Capital    Share      other
                      Merger    premium   redemption  plan   comprehensive
       $ million    reserve[1] reserve[1] reserve[2] reserve    income      Total

    At January 1,
    2013[3]              3,423        154         63   2,028       (9,420) (3,752)
    Other
    comprehensive
    loss
    attributable to
    Royal Dutch
    Shell plc
    shareholders             -          -          -       -         (210)   (210)
    Scrip dividends        (8)          -          -       -             -     (8)
    Repurchases of
    shares                   -          -         10       -             -      10
    Share-based
    compensation             -          -          -   (256)             -   (256)
    At September
    30, 2013             3,415        154         73   1,772       (9,630) (4,216)

    At January 1,
    2012[3]              3,432        154         60   1,571       (7,178) (1,961)
    Other
    comprehensive
    income
    attributable to
    Royal Dutch
    Shell plc
    shareholders[3]          -          -          -       -         1,001   1,001
    Scrip dividends        (6)          -          -       -             -     (6)
    Repurchases of
    shares                   -          -          2       -             -       2
    Share-based
    compensation             -          -          -     243             -     243
    At September
    30, 2012[3]          3,426        154         62   1,814       (6,177)   (721)

    [1] The merger reserve and share premium reserve were established as a
    consequence of Royal Dutch Shell plc becoming the single parent company
    of Royal Dutch Petroleum Company and The "Shell" Transport and Trading
    Company, plc, now The Shell Transport and Trading Company Limited, in
    2005.

    [2] The capital redemption reserve was established in connection with
    repurchases of shares of Royal Dutch Shell plc.

    [3] Restated for accounting policy change (see Note 2)



6. Derivative contracts

The table below provides the carrying amounts of derivative contracts held, disclosed in accordance with IFRS 13 Fair Value Measurement (see Note 1c).

                                                Sept 30,    June 30,  Sept 30,
                    $ million                     2013        2013      2012

    Included within:

    Trade and other receivables - non-current        1,683      1,337    1,462
    Trade and other receivables - current            7,218      8,174   12,088

    Trade and other payables - non-current             583        583      735
    Trade and other payables - current               7,200      7,834   12,350


7. Major investments in joint ventures and associates

Of the major investments in joint ventures and associates listed in the Annual Report and Form 20-F for the year ended December 31, 2012 (page 117), Aera, Deer Park and Saudi Aramco Shell Refinery have been assessed as joint operations under IFRS 11 Joint Arrangements (see Note 1b) and are no longer accounted for using the equity method as from January 1, 2013.

8. Impacts of accounting for derivatives

In the ordinary course of business Shell enters into contracts to supply or purchase oil and gas products, and also enters into derivative contracts to mitigate resulting economic exposures (generally price exposure). Derivative contracts are carried at period-end market price (fair value), with movements in fair value recognised in income for the period. Supply and purchase contracts entered into for operational purposes are, by contrast, recognised when the transaction occurs (see also below); furthermore, inventory is carried at historical cost or net realisable value, whichever is lower.

As a consequence, accounting mismatches occur because: (a) the supply or purchase transaction is recognised in a different period; or (b) the inventory is measured on a different basis.

In addition, certain UK gas contracts held by Upstream are, due to pricing or delivery conditions, deemed to contain embedded derivatives or written options and are also required to be carried at fair value even though they are entered into for operational purposes.

The accounting impacts of the aforementioned are reported as identified items in this Report.

9. Return on average capital employed

Return on average capital employed (ROACE) measures the efficiency of Shell's utilisation of the capital that it employs and is a common measure of business performance. In this calculation, ROACE is defined as the sum of income for the current and previous three quarters, adjusted for after-tax interest expense, as a percentage of the average capital employed for the same period. Capital employed consists of total equity, current debt and non-current debt. The tax rate is derived from calculations at the published segment level.

10. Liquidity and capital resources

Third quarter net cash from operating activities was $10.4 billion compared with $9.5 billion for the same period last year.

Total current and non-current debt increased to $37.1 billion at September 30, 2013 from $33.0 billion at June 30, 2013 while cash and cash equivalents increased to $14.3 billion at September 30, 2013, from $12.5 billion at June 30, 2013. During the third quarter 2013 Shell issued $3.75 billion of debt under the US shelf registration. No new debt was issued under the euro medium-term note programme.

Net capital investment in the third quarter 2013 was $9.4 billion, of which $8.1 billion was in Upstream, $1.2 billion in Downstream and $0.1 billion in Corporate. Net capital investment in the same period of 2012 was $8.0 billion, of which $6.9 billion was in Upstream and $1.1 billion in Downstream.

Dividends of $0.45 per share are announced on October 31, 2013 in respect of the third quarter. These dividends are payable on December 23, 2013. In the case of the B shares, the dividends will be payable through the dividend access mechanism and are expected to be treated as UK-source rather than Dutch-source. See the Annual Report and Form 20-F for the year ended December 31, 2012 for additional information on the dividend access mechanism.

Under the Scrip Dividend Programme shareholders can increase their shareholding in Shell by choosing to receive new shares instead of cash dividends. Only new A shares will be issued under the Programme, including to shareholders who currently hold B shares.

Nine months net cash from operating activities was $34.4 billion compared with $36.2 billion for the same period last year.

Total current and non-current debt decreased to $37.1 billion at September 30, 2013 from $37.8 billion at December 31, 2012 while cash and cash equivalents decreased to $14.3 billion at September 30, 2013, from $18.6 billion at December 31, 2012. During the first nine months 2013 Shell issued $3.75 billion of debt under the US shelf registration. No new debt was issued under the euro medium-term note programme.

Net capital investment in the first nine months 2013 was $28.5 billion, of which $25.1 billion was in Upstream, $3.3 billion in Downstream and $0.1 billion in Corporate. Net capital investment in the same period of 2012 was $18.9 billion, of which $16.0 billion was in Upstream, $2.8 billion in Downstream and $0.1 billion in Corporate.

CAUTIONARY STATEMENT

All amounts shown throughout this Report are unaudited.

The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this document "Shell", "Shell group" and "Royal Dutch Shell" are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this document refer to companies over which Royal Dutch Shell plc either directly or indirectly has control. Companies over which Shell has joint control are generally referred to as "joint ventures" and companies over which Shell has significant influence but neither control nor joint control are referred to as "associates". In this document, joint ventures and associates may also be 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 23% shareholding in Woodside Petroleum Ltd.) ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.

This document 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'', ''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 document, 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; and (m) changes in trading conditions. All forward-looking statements contained in this document 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, 2012 (available at http://www.shell.com/investor and http://www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this document and should be considered by the reader. Each forward-looking statement speaks only as of the date of this document, October 31, 2013. 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 document.

We may have used certain terms, such as resources, in this document that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website http://www.sec.gov. You can also obtain this form from the SEC by calling 1-800-SEC-0330.

October 31, 2013

The information in this Report reflects the unaudited consolidated financial position and results of Royal Dutch Shell plc. Company No. 4366849, Registered Office: Shell Centre, London, SE1 7NA, England, UK.

Contacts:

- Investor Relations: International  +31(0)-70-377-4540;  North America +1-713-241-1042

- Media: International  +44(0)207-934-5550;  USA  +1-713-241-4544

SOURCE Royal Dutch Shell plc



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