What is the difference between “A” Shares and “B” Shares?
“A” Shares and “B” Shares will have identical voting rights and will vote together as a single class on all matters, including the election of directors, unless a matter affects the rights of one class as a separate class. “A” Shares and “B” Shares will have identical rights upon the liquidation of Royal Dutch Shell, and dividends declared on each will be equivalent in amount. However, in seeking to preserve the current tax treatment of dividends, holders of “A” Shares will receive Dutch source dividends, while holders of “B” Shares will receive dividends that are UK sourced to the extent that these dividends are paid through a dividend access mechanism. What is the dividend policy of Royal Dutch Shell? In setting the level of the dividend, the board of Royal Dutch Shell will seek to increase dividends at least in line with inflation over time. The base for the 2005 financial year will be the dividends paid by Royal Dutch in respect of the financial year ended December31, 2004. Dividen
