Royal Dutch Shell Plc

Shell's CEO Ben van Beurden said the company is taking steps towards the delivery of our world-class investment case, with the launch of a $25 billion share buyback program.

The company intends to buy back at least $25 billion of our shares over the period 2018-2020, subject to further progress with debt reduction and oil price conditions.

The maximum number of ordinary shares which may be purchased by the company under the buyback programme is 834 million, which is the maximum pursuant to the authority granted by shareholders at the company's 2018 Annual General Meeting.

In the first tranche of this buyback program the company has entered into an irrevocable, non-discretionary arrangement with a broker to enable the purchase of A ordinary shares and/or B ordinary shares up to and including October 25, 2018. The aggregate maximum consideration for the purchase of A ordinary shares and B ordinary shares under the initial program is $2 billion. The shares bought back under the initial program will be whichever of the A ordinary shares and/or B ordinary shares is economically the least expensive on a given trading day.