Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has executed significant share repurchases across multiple trading venues on September 9, 2025, as part of its previously announced buyback program. The company purchased 525,000 shares in GBP across LSE, Chi-X, and BATS venues, with prices ranging from £26.33 to £26.73. Additionally, 475,000 shares were acquired in EUR through XAMS and CBOE DXE platforms at prices between €30.57 and €31.04.

The purchases are part of Shell's share buy-back programme announced on July 31, 2025, which will continue until October 24, 2025. HSBC Bank plc is managing the trading decisions independently, operating within pre-set parameters for both on-market and off-market transactions.

Positive

• Continued execution of share buyback program demonstrates strong capital return commitment to shareholders
• Multiple trading venue approach ensures efficient price discovery and liquidity
• Independent management by HSBC Bank provides transparency and market integrity

Negative

• Capital expenditure on share buybacks reduces cash available for operational investments
• Share repurchases at relatively high price points (£26.73/€31.04 maximum)

Insights

Financial Analyst

Shell continues executing its previously announced share buyback program with multiple purchases across trading venues.

Shell's recent share repurchase activity represents the ongoing execution of their buyback program announced on July 31, 2025. On September 9, the company purchased a total of 525,000 shares across three UK trading venues at prices ranging from £26.33 to £26.73, with volume-weighted average prices around £26.54. Additionally, Shell acquired 475,000 shares across European exchanges at prices between €30.57 and €31.04.

This share repurchase program includes both on-market and off-market components, with HSBC Bank making independent trading decisions within pre-established parameters through October 24, 2025. The execution follows standard regulatory frameworks including UK Listing Rules, Market Abuse Regulations, and relevant Brexit-adjusted protocols.

Share buybacks typically signal management's confidence in company valuation and financial health. By reducing the number of outstanding shares, Shell can potentially increase earnings per share and return capital to shareholders. This transaction represents routine capital allocation strategy execution rather than a new initiative, consistent with many energy majors using excess cash flow for shareholder returns alongside dividend payments.

Transaction in Own Shares   

9 September, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 9 September, 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
09/09/2025	247,005	£26.7300	£26.3300	£26.5322	LSE	GBP
09/09/2025	148,825	£26.7300	£26.3300	£26.5368	Chi-X (CXE)	GBP
09/09/2025	129,170	£26.7300	£26.3350	£26.5504	BATS (BXE)	GBP
09/09/2025	275,356	€31.0400	€30.5700	€30.7667	XAMS	EUR
09/09/2025	199,644	€31.0400	€30.5800	€30.7559	CBOE DXE	EUR
09/09/2025	-	-	-	-	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 31 July 2025.

In respect of this programme, HSBC Bank plc will make trading decisions in relation to the securities independently of the Company for a period from 31 July 2025 up to and including 24 October 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 HSBC Bank plc 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

• Shell RNS (Extended) 20250909

FAQ

How many shares did Shell (SHEL) repurchase on September 9, 2025?

Shell purchased a total of 1 million shares across multiple venues - 525,000 shares in GBP (LSE, Chi-X, BATS) and 475,000 shares in EUR (XAMS, CBOE DXE).

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

The current buyback program runs from July 31, 2025 to October 24, 2025, with HSBC Bank plc making independent trading decisions.

What was the price range for Shell's share purchases on September 9, 2025?

In GBP, shares were purchased between £26.33 and £26.73. In EUR, the price range was €30.57 to €31.04.

Who manages Shell's share buyback program?

HSBC Bank plc manages the trading decisions independently of Shell, operating within pre-set parameters for both on-market and off-market transactions.

What trading venues did Shell use for its share repurchases?

Shell purchased shares across five venues: LSE, Chi-X (CXE), and BATS (BXE) in GBP, and XAMS and CBOE DXE in EUR.