Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased and cancelled 1,448,693 ordinary shares on 23 October 2025 as part of its ongoing buy-back programme announced 31 July 2025. Purchases were executed across multiple venues: LSE, Chi-X, BATS, XAMS and CBOE DXE, with reported volume-weighted average prices per venue between £28.4054 and €32.7336. HSBC Bank plc acted as independent broker for the programme, which runs from 31 July 2025 up to and including 24 October 2025, and operates under UK MAR and EU MAR onshored rules. The shares were bought for cancellation under the company’s existing on- and off-market authorities.

Positive

• 1,448,693 shares repurchased on 23/10/2025
• Shares purchased for cancellation, reducing share count
• Executed across 5 trading venues (LSE, CXE, BXE, XAMS, DXE)

Negative

• Buy-back constrained by pre-set parameters, limiting trading flexibility
• Programme runs only until 24 October 2025, a short execution window

Insights

Capital Markets Analyst

Shell executed buybacks across multiple venues on 23/10/2025, cancelling about 1.449 million shares at listed GBP and EUR prices.

Shell purchased 313,419 shares on LSE, 179,611 on Chi-X (CXE), 231,020 on BATS (BXE), 400,123 on XAMS and 324,520 on CBOE DXE, with TQEX showing no trades; the stated volume-weighted average prices ranged around £28.41 per share on UK venues and €32.73 on continental venues. These purchases form part of the on- and off-market limbs of the previously announced buy-back programme from 31/07/2025, with HSBC Bank plc executing trades independently through 24/10/2025.

The business mechanism is straightforward: the Company is reducing share count via cancellations under its authorised buy-back authorities, using both on-market and off-market channels and complying with UK MAR and relevant delegated regulations. Key dependencies and risks are execution timing and volume limits set by the programme and by the independent trading mandate to HSBC; regulatory compliance and the pre-set parameters govern how much and when cancellations occur.

Concrete items to watch in the near term include the remaining window for independent trading by HSBC up to and including 24/10/2025, any further daily breakdowns showing scale of purchases, and whether future announcements report material increases in aggregate cancelled shares beyond the ~1,448,693 shown here; these items will clarify cumulative programme size and cadence over the coming days.

Transaction in Own Shares   

23 October, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 23 October, 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
23/10/2025	313,419	£28.6200	£28.1450	£28.4265	LSE	GBP
23/10/2025	179,611	£28.6150	£28.1600	£28.4054	Chi-X (CXE)	GBP
23/10/2025	231,020	£28.6150	£28.1550	£28.4198	BATS (BXE)	GBP
23/10/2025	400,123	€33.0000	€32.4900	€32.7336	XAMS	EUR
23/10/2025	324,520	€33.0000	€32.5000	€32.7302	CBOE DXE	EUR
23/10/2025	-	-	-	-	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) 20251023

FAQ

How many shares did Shell (SHEL) repurchase on 23 October 2025?

Shell repurchased a total of 1,448,693 ordinary shares on 23 October 2025.

At what prices did Shell (SHEL) buy back shares on 23 October 2025?

Reported volume-weighted average prices per venue ranged from £28.4054 to €32.7336 on 23 October 2025.

Which venues did Shell (SHEL) use for the 23 October 2025 buybacks?

Trades were executed on LSE, Chi-X (CXE), BATS (BXE), XAMS and CBOE DXE on 23 October 2025.

Were the repurchased Shell (SHEL) shares cancelled or held as treasury stock?

The repurchased shares were purchased for cancellation on 23 October 2025.

Who made the trading decisions for Shell's (SHEL) buy-back up to 24 October 2025?

HSBC Bank plc made trading decisions independently of Shell for the buy-back period up to and including 24 October 2025.

Under what rules was Shell's (SHEL) buy-back conducted?

The programme was conducted under Chapter 9 of the UK Listing Rules and UK MAR/EU MAR (onshored) and related delegated regulations.