Transaction in Own Shares

Rhea-AI Summary

Shell plc announced a share buyback transaction on May 23, 2025, purchasing shares across multiple venues. The company bought 1,040,000 shares on the London exchanges (LSE, Chi-X, and BATS) at prices ranging from £24.04 to £24.53, and 980,000 shares on European exchanges (XAMS, CBOE DXE, and TQEX) at prices between €28.78 and €29.32. These purchases are part of Shell's buyback programme announced on May 2, 2025, which will run until July 25, 2025. BNP PARIBAS SA is executing the trades independently within pre-set parameters, including both on-market and off-market transactions.

Positive

• Continued execution of share buyback program demonstrates strong capital return commitment to shareholders
• Multi-exchange purchase strategy shows efficient capital deployment
• Independent execution by BNP Paribas ensures market compliance and transparency

Negative

• Significant cash outflow for share repurchases could impact available capital for other investments
• Share buybacks may indicate limited growth opportunities for capital deployment

Insights

Financial Analyst

Shell continues executing its share buyback program, repurchasing over 2 million shares across multiple exchanges on May 23.

Shell's latest buyback activity shows the company purchased approximately 2.02 million shares on May 23, 2025, across various trading venues including LSE, European exchanges, and alternative platforms. The company paid between £24.05 and £24.53 per share in the UK markets and between €28.79 and €29.32 in European venues, with volume-weighted average prices of roughly £24.30 and €29.04 respectively.

This repurchase activity is part of Shell's previously announced buyback program from May 2, 2025, that will continue through July 25, 2025. The program features both on-market and off-market components, with BNP PARIBAS SA making independent trading decisions within pre-established parameters.

Share buybacks typically signal management's confidence in company value and represent a tax-efficient method of returning capital to shareholders. By reducing outstanding shares, Shell effectively increases earnings per share and potentially improves shareholder returns. The consistent execution of this program demonstrates Shell's commitment to its capital return strategy and suggests solid cash flow generation capacity that enables simultaneously funding operations, investments, and shareholder returns despite energy market volatility.

Transaction in Own Shares

23 May, 2025

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Shell plc (the ‘Company’) announces that on 23 May, 2025 it purchased the following number of Shares for cancellation.

Aggregated information on Shares purchased according to trading venue:

Date of purchase	Number of Shares purchased	Highest price paid	Lowest price paid	Volume weighted average price paid per share	Venue	Currency
23/05/2025	724,639	£24.5300	£24.0450	£24.2591	LSE	GBP
23/05/2025	196,474	£24.5300	£24.0500	£24.2972	Chi-X (CXE)	GBP
23/05/2025	118,887	£24.5300	£24.0500	£24.3280	BATS (BXE)	GBP
23/05/2025	610,149	€29.3200	€28.7850	€29.0402	XAMS	EUR
23/05/2025	306,793	€29.3000	€28.7850	€29.0223	CBOE DXE	EUR
23/05/2025	63,058	€29.3050	€28.7850	€29.0718	TQEX	EUR

These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme previously announced on 2 May 2025.

In respect of this programme, BNP PARIBAS SA will make trading decisions in relation to the securities independently of the Company for a period from 2 May 2025 up to and including 25 July 2025.

The on-market limb will be effected within certain pre-set parameters and in accordance with the Company’s general authority to repurchase shares on-market. The off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein. The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”) and the EU MAR Delegated Regulation as “onshored” into UK law from the end of the Brexit transition period (at 11:00 pm on 31 December 2020) through the European Union (Withdrawal) Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended, supplemented, restated, novated, substituted or replaced by the Financial Services Act, 2021 and relevant statutory instruments (including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time.

In accordance with EU MAR and UK MAR, a breakdown of the individual trades made by BNP PARIBAS SA on behalf of the Company as a part of the buy-back programme is detailed below.

Enquiries

Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

LEI number of Shell plc: 21380068P1DRHMJ8KU70

Classification: Acquisition or disposal of the issuer’s own shares

Attachment

• RNS Report SHELL 2025 05 23

FAQ

How many shares did Shell (SHEL) buy back on May 23, 2025?

Shell purchased a total of 2.02 million shares across different venues: 1.04 million shares on London exchanges (LSE, Chi-X, and BATS) and 980,000 shares on European exchanges (XAMS, CBOE DXE, and TQEX).

What is the price range for Shell's share buyback on May 23, 2025?

On London exchanges, shares were purchased between £24.04 and £24.53, while on European exchanges, the price range was €28.78 to €29.32.

When will Shell's current share buyback program end?

The current share buyback program, announced on May 2, 2025, will run until July 25, 2025.

Who is executing Shell's share buyback program?

BNP PARIBAS SA is independently executing the trading decisions for Shell's buyback program within pre-set parameters.

What types of buybacks is Shell (SHEL) conducting in this program?

Shell is conducting both on-market and off-market share buybacks, with the off-market portion being executed according to a shareholder-approved buyback contract.