Shell corrects fourth quarter and full year 2014 (FIFO) results, CCS earnings
unchanged.

The Hague, 30 January 2015. Royal Dutch Shell plc announced its unaudited
results for the fourth quarter and full year 2014 on 29 January 2015.
Subsequent to making that announcement, a stock valuation error in its
Downstream operations was discovered. The value of inventories in the condensed
consolidated balance sheet, reported as $19,981 million, should be corrected to
$19,701 million.

The fourth quarter and full year 2014 results of Royal Dutch Shell plc have
been revised to take account of this stock valuation error. The impact is shown
below.

Royal Dutch Shell's fourth quarter and full year 2014 earnings, on a current
cost of supplies (CCS) basis are unchanged. These earnings were $4.2 billion
and $19.0 billion respectively.

Fourth quarter and full year 2014 CCS earnings excluding identified items are
unchanged. These earnings were $3.3 billion and $22.6 billion respectively.

The CCS adjustment for Downstream increased from $3,390 million to $3,568
million in the fourth quarter 2014 and from $3,989 million to $4,167 million
for the full year 2014.

As a consequence, fourth quarter 2014 Income attributable to Royal Dutch Shell
plc shareholders reduced from $773 million to $595 million. Full year 2014
Income attributable to Royal Dutch Shell plc shareholders reduced from $15,052
million to $14,874 million.

The impact on end 2014 return on average capital employed on a reported income
basis (7.1%) and gearing (12.2%) is immaterial.

Fourth quarter and full year 2014 Basic CCS earnings per share and per ADS are
unchanged.

Basic earnings per share and diluted earnings per share both reduced from $0.12
per share to $0.09 per share in the fourth quarter 2014 and from $2.38 per
share to $2.36 per share for the full year 2014.

SUMMARY OF UNAUDITED RESULTS

Quarters                  $million                         Full year

Q4 2014 Q4 2014                                            2014    2014

Amended Reported Revision                                  Amended Reported Revision

                          Income attributable to Royal
595     773      (178)    Dutch Shell plc shareholders     14,874  15,052   (178)

                          Current cost of supplies (CCS)
3,568   3,390    178      adjustment for Downstream        4,167   3,989    178

4,163   4,163    -        CCS earnings                     19,041  19,041   -

901     901      -        Identified items                 (3,521) (3,521)  -

                          CCS earnings excluding
3,262   3,262    -        identified items                 22,562  22,562   -

                           Of which:

1,730   1,730    -          Upstream                       16,505  16,505   -

1,550   1,550    -          Downstream                     6,265   6,265    -

                            Corporate and Non-controlling
(18)    (18)     -          interest                       (208)   (208)    -

                          Cash flow from operating
9,608   9,608    -        activities                       45,044  45,044   -


The adjustment of the value of inventories leads to the correction of certain
other line items in the unaudited condensed consolidated financial statements
which are considered to be immaterial.

The revised amounts will be included in the 2014 Annual Report and Form 20-F.

Enquiries

Shell Media Relations
International: +44 20 7934 5550
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Shell Investor Relations
International: +31 70 377 4540
North America: +1 832 337 2034

Cautionary note

The companies in which Royal Dutch Shell plc directly and indirectly owns
investments are separate entities. In this announcement "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
announcement refer to companies in which Shell either directly or indirectly
has control, by having either a majority of the voting rights or the right to
exercise a controlling influence. The companies in which Shell has significant
influence but not control are referred to as "associated companies" or
"associates" and companies in which Shell has joint control are referred to as
"jointly controlled entities". In this announcement, associates and jointly
controlled entities are also referred to as "equity-accounted investments". The
term "Shell interest" is used for convenience to indicate the direct and/or
indirect ownership interest held by Shell in a venture, partnership or company,
after exclusion of all third-party interest.

This announcement contains forward looking statements concerning the financial
condition, results of operations and businesses of Shell and the Shell Group.
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 Shell and
the Shell Group 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", "seek", "should", "target", "will" and similar terms and phrases.
There are a number of factors that could affect the future operations of Shell
and the Shell Group and could cause those results to differ materially from
those expressed in the forward looking statements included in this
announcement, 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 announcement 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 Shell's 20-F
for the year ended 31 December 2013 (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 the date of this announcement, 30
January 2015. Neither Shell nor any of its subsidiaries nor the Shell Group
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
announcement.