Shell brand is already in Armenia. The first fuel stations were put into operation

On June 29, 2023, Royal Oil, official licensee of Shell brand in Armenia, launched the first two Shell
branded fuel stations , at 6/3 and 15/1 of Artashat Highway in Yerevan 

Among the guests of the official opening ceremony were Vahan Kerobyan, RA Minister of Economy;
Tigran Avinyan, Deputy Mayor of Yerevan; Kai-Uwe Witterstein, General Manager Licensed
Markets at Shell Brands International AG; Joanna Kuenssberg, VP Corporate Relations MENA &
CIS at Shell International BV and other special guests. 

Welcoming the guests and congratulating them on the launch of Shell brand in Armenia,
Vahan Kerobyan, RA Minister of Economy, notes, “Congratulations to all of us on this important
day. Shell stands among the 50 largest companies in the world, and the presence of such brands in
our country can serve as an incentive for attracting international investments to Armenia. This is
more than just a fuel station; it represents a new culture. With its high-quality products and superior
services, Shell will revolutionize the demand for services in the fuel station industry in Armenia,
leading to a significant improvement in the overall market. In light of this, we are extremely excited”.

Gevorg Harutyunyan, Chairman of the Board of Directors of "Royal Oil" company, notes,
“There was a need for qualitatively new fuel on the Armenian market, as well as new approaches
and standards for service at fuel stations, so after long studying the international experience, the
activities of various organizations and the offers of the world's leading companies, we chose Shell.
At the global level, the experience and capabilities gained by the Shell company over decades will
undoubtedly have an effective effect on increasing the level of quality and services in our market,
making them more competitive, fair and free. A great team work has been done and we are grateful
to Shell for the great trust shown, effective cooperation and prospects. It is an important principle for
us to keep the honor, importance and reputation of Shell as a global brand high, ensuring the
expectations of our customers. According to the cooperation agreement, the Company will import
fuel to Armenia from Europe. The fuel will initially be imported from Romania and Greece, then the
geography of cooperation will increase and other European countries will be included. By the way,
every batch of imported fuel has its own certificate of origin, which shows that the country is the
supplier”.

Kai-Uwe Witterstein, General Manager Licensed Markets at Shell Brands International AG
notes, “We are very proud to partner with Royal Oil in Armenia, bringing our excellence in products
and services to Armenian motorists. This is the first of many stations that will open in the coming
months and years we can’t wait to see the Shell brand in Armenian cities and on major roads
throughout the country”.

"Royal Oil" company, in cooperation with Shell, plans to open about 25 fuel stations in different
parts of the country in the framework of the next 5-year strategy, with the aim of creating a network
of new generation fuel stations. One of the company'‎s strategic goals is to introduce high-quality
fuel to the Armenian market and provide high-quality service, create an atmosphere of mutual trust
between the consumer and the supplier

V-Power class fuel based on Shell'‎s advanced technologies and innovative approaches will be
available to the Armenian consumer. Shell V-Power fuels were first introduced over 20 years ago
and are now one of the best-selling performance fuels on the market, chosen by ~20% of our fuel
customers globally. Shell V-Power, with new generation of additives is so far Shell’s best
Performance fuel and allows both older and new internal combustion engine vehicles to perform
better than any fuel Shell previously developed. Shell V-Power 100% cleans critical engine parts to
fully rejuvenate your engine’s performance and is the only performance fuel trusted and recommended by some of the world’s automotive leaders, including Scuderia Ferrari, BMW M series and Ducati.

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Shell is a global group of energy and petrochemical companies with more than 90,000 employees in more
than 70 countries. With over 46,000 sites in over 80 markets, Shell is the world’s largest mobility retailer by
number of mobility locations and one of the largest single-branded retailers of any kind on the planet. Every
day, around 32 million customers visit Shell mobility locations to buy fuel, convenience items including
beverages and fresh food, and services such as lubricant changes and car washes. . It is noteworthy that
Shell stations sell 450 million cups of coffee, 1.5 billion cold drinks and more than 1 billion snacks every year.
The brand uses advanced technologies and is driven by innovative approaches to help build a sustainable
energy future. Shell offers its customers low-emission products and services: biofuels, electric vehicle
charging, hydrogen and various gaseous fuels such as liquefied natural gas. The company cooperates with
the leading world motorsport teams in the framework of the world's most prestigious championships. The
company's partners in motorsport are Scuderia Ferrari, Ducati Corse in MotoGP, BMW. Shell is the number
one supplier of lubricants in the world and is represented in more than 100 countries.

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"Royal Oil" LLC was founded in 2019. The company is engaged in the import of high-quality European fuel,
retail and wholesale sales, development of the network of fuel stations of the new generation. Since 2022, the
Company is the licensed representative of the Shell brand in Armenia.