WHO WE ARE

Pilipinas Shell traces its roots to Asiatic Petroleum Company (Philippine Islands) Ltd. in the Philippines back
since 1914, and has grown to become one of the leading oil refining and marketing businesses in the
Philippines.

VISION
To be the most admired and trusted company that powers progress for the Filipino through high-quality
energy products & services.

MISSION STATEMENTS
 We delight our Customers with high quality fuels, lubricants & specialties, and best-in-class technical
& convenience services.
 We attract and retain the best Employees through very competitive remuneration and growth
opportunities.
 We engage the most professional Business Partners in long-term and mutually-beneficial relationships.
 We partner with Government and Communities in promoting social investments and advocacies that
contribute to national development.
 We deliver consistent, attractive and increasing returns for our Shareholders through operational
excellence, superior value propositions and strong corporate governance.

VALUES
Honesty, Integrity, Respect, Care, Humility, Commitment

CORPORATE HISTORY AND MILESTONES

Pilipinas Shell traces its roots to Asiatic Petroleum Company (Philippine Islands), Ltd. which opened for
business in the Philippines and began to import and sell motor gasoline and kerosene in 1914. Asiatic Petroleum
Company (Philippine Islands) Ltd. was renamed The Shell Company of the Philippine Islands, Ltd. in the 1940s.

In 1959, Pilipinas Shell was incorporated under the name The Shell Refining Company (Philippines), Inc. in
compliance with the then required percentage of Filipino ownership (25%) in large industrial ventures. In
1970, Pilipinas Shell was renamed Shell Philippines, Inc. and was later renamed Pilipinas Shell Petroleum
Corporation in 1973.

In 1976, Meralco Securities Corporation acquired 25% stake in the Company resulting in the Company being
50% owned.

In February 1987, the Filipino ownership in the Company decreased to 33.33% after a share buyback by the
Company of Meralco Securities Corporation’s stake in the Company. In August 2015, the Filipino ownership in
the Company decreased to 31.82% following the issuance of additional shares pursuant to a stock rights
offering.

Certain key dates and milestones for Pilipinas Shell’s business are set forth below.

1960
The Company began the construction of a crude oil refinery in Tabangao, Batangas.
1962
The Tabangao Refinery commenced commercial operations with a nameplate capacity of 30,000 bpd.

1982
The Company began to partner with the Pilipinas Shell Foundation, Inc. or the PSFI on programs relating to (i)
healthcare and services, sanitation, and safety, (ii) technical, vocational and agricultural skills development,
training and employment, (iii) livelihood and entrepreneurship development, (iv) leadership enhancement and
attitude development, and (v) environmental stewardship.

1993
The Company commenced the construction of a bigger and more modern Tabangao Refinery. The primary
purpose of the construction was to replace two crude distillers built in 1960.

1995
The nameplate capacity of the Tabangao Refinery increased to 110,000 bpd.

1999
The Shell Philippine Petroleum Corporation (“SPPC”), the Philippines only lube oil refinery, was merged with
and absorbed by the Company. SPPC was formerly the Philippine Petroleum Corporation, the majority stake of
which was acquired by the Shell Group in 1986.

2003
The Company opened a bitumen storage and distribution facility in Villanueva, Misamis Oriental.

2008
The Company inaugurated its Bitumen Solutions Center at the Tabangao Refinery.

2012
The Tabangao Refinery celebrated its 50th year.

The Company launched three new premium performance fuels, namely, Shell V-Power Nitro + Gasoline, Shell V-
Power Nitro + Racing and Shell V-Power Nitro + Diesel.

2014
The Company began the construction of the North Mindanao Import Facility (“NMIF”).

2015
The Company completed the upgrade of the Tabangao Refinery.

2016
The NMIF commenced commercial operations by sending out its first shipment.