Company Profile

PILIPINAS SHELL CORPORATION TABANGAE REFINERY

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.
Location Map

PILIPINAS SHELL CORPORATION TABANGAE REFINERY