Transaction in Own Shares

Rhea-AI Summary

Shell plc announced the purchase of shares for cancellation on June 11, 2025, as part of its ongoing share buyback programme. The company acquired a total of 760,000 shares on the London Stock Exchange and related venues (LSE, Chi-X, BATS) at prices ranging from £25.79 to £25.97, and 790,000 shares on European exchanges (XAMS, CBOE DXE, TQEX) at prices between €30.56 and €30.81. This share repurchase is 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 for both on-market and off-market transactions.

Positive

• Shell continues its share buyback program, demonstrating strong capital return commitment to shareholders
• The buyback program shows confidence in the company's financial position and cash flow generation
• Share cancellation will reduce the number of outstanding shares, potentially increasing earnings per share

Negative

• The share buyback reduces the company's cash reserves that could be used for business investments
• Large cash expenditure on buybacks might limit flexibility for other strategic initiatives

Insights

Financial Analyst

Shell continues execution of its share buyback program with purchases across multiple venues totaling ~1.5 million shares.

Shell's June 11th share repurchases represent another systematic execution of their previously announced buyback program that runs from May 2 through July 25, 2025. The company acquired approximately 760,000 shares in GBP (across LSE, Chi-X, and BATS) and approximately 790,000 shares in EUR (across XAMS, CBOE DXE, and TQEX) for cancellation.

The weighted average purchase prices of £25.86 and €30.67 suggest a disciplined approach to capital return. These buybacks are part of both on-market and off-market repurchase mechanisms, with BNP PARIBAS executing trades independently within pre-established parameters.

Share repurchases typically signal management's confidence in company valuation while potentially enhancing earnings per share metrics by reducing the outstanding share count. For Shell specifically, this continues their commitment to returning value to shareholders through systematic buybacks alongside their dividend program.

The multi-venue execution across six different trading platforms demonstrates sophisticated treasury management aimed at optimizing liquidity and execution prices. This buyback activity represents standard capital allocation for major energy companies generating substantial free cash flow in the current environment, rather than an exceptional development.

Transaction in Own Shares

11 June, 2025

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Shell plc (the ‘Company’) announces that on 11 June, 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
11/06/2025	530,431	£25.9700	£25.7900	£25.8649	LSE	GBP
11/06/2025	134,503	£25.9700	£25.7900	£25.8628	Chi-X (CXE)	GBP
11/06/2025	95,066	£25.9700	£25.7950	£25.8945	BATS (BXE)	GBP
11/06/2025	452,119	€30.8000	€30.5600	€30.6730	XAMS	EUR
11/06/2025	289,254	€30.8050	€30.5550	€30.6630	CBOE DXE	EUR
11/06/2025	48,627	€30.7950	€30.5850	€30.7164	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 06 11

FAQ

How many shares did Shell (SHEL) purchase on June 11, 2025?

Shell purchased approximately 1.55 million shares across different venues: 760,000 shares on UK venues (LSE, Chi-X, BATS) and 790,000 shares on European exchanges (XAMS, CBOE DXE, TQEX).

What is the duration of Shell's current share buyback programme?

Shell's current share buyback programme runs from May 2, 2025, to July 25, 2025.

What was the price range for Shell's share purchases on June 11, 2025?

On UK venues, shares were purchased between £25.79 and £25.97, while on European exchanges, prices ranged from €30.56 to €30.81.

Who is executing Shell's share buyback programme?

BNP PARIBAS SA is executing the trades independently on behalf of Shell within pre-set parameters.

What is the purpose of Shell's share buyback programme?

The shares are being purchased for cancellation, which reduces the number of outstanding shares and potentially increases value for remaining shareholders.