Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on May 9, 2025, as part of its previously announced buyback program. The company purchased a total of 811,000 shares across LSE, Chi-X, and BATS venues in GBP, with prices ranging from £24.49 to £24.775. Additionally, 755,000 shares were purchased across XAMS, CBOE DXE, and TQEX venues in EUR, with prices ranging from €29.035 to €29.39.

The purchases are part of Shell's share buy-back programme announced on May 2, 2025, which will run until July 25, 2025. BNP PARIBAS SA is executing the trades independently, following pre-set parameters and regulatory requirements under UK and EU market abuse regulations.

[ "Implementation of share buyback program demonstrates confidence in company's financial position", "Buyback reduces number of outstanding shares, potentially increasing earnings per share", "Program execution across multiple venues ensures market liquidity and price efficiency" ]

Positive

• None.

Negative

• Significant cash expenditure on buybacks reduces available capital for operations or investments
• Share purchases at relatively high price points (near £24.77 and €29.39) may impact program's cost-effectiveness

Insights

Capital Markets Analyst

Shell continues its previously announced share buyback program, purchasing 1.57M shares across multiple venues.

Shell's latest transaction report shows the company purchased approximately 1.57 million shares across multiple trading venues on May 9, 2025, as part of its previously announced share buyback program. On the London Stock Exchange, the company acquired 562,249 shares at prices ranging from £24.49 to £24.78 with a volume-weighted average price of £24.64. Additional purchases were made on Chi-X, BATS, XAMS, CBOE DXE, and TQEX venues.

This buyback activity is part of Shell's broader share repurchase program announced on May 2, 2025, which 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 repurchases typically benefit remaining shareholders by reducing the number of outstanding shares, which can improve earnings per share metrics and provide share price support. This particular buyback represents a continuation of Shell's capital return strategy rather than a new initiative. The execution across multiple European trading venues reflects the company's global shareholder base and the liquidity of Shell shares across different markets.

The systematic nature of this buyback, operating within regulatory frameworks including UK Listing Rules and Market Abuse Regulations, demonstrates Shell's disciplined approach to capital allocation while maintaining compliance with relevant securities regulations.

Transaction in Own Shares

9 May, 2025

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Shell plc (the ‘Company’) announces that on 9 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
09/05/2025	562,249	£24.7750	£24.4900	£24.6411	LSE	GBP
09/05/2025	134,097	£24.7700	£24.4950	£24.6459	Chi-X (CXE)	GBP
09/05/2025	114,654	£24.7700	£24.4950	£24.6434	BATS (BXE)	GBP
09/05/2025	464,524	€29.3900	€29.0350	€29.2463	XAMS	EUR
09/05/2025	227,414	€29.3850	€29.0450	€29.2385	CBOE DXE	EUR
09/05/2025	63,062	€29.3850	€29.0600	€29.2672	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 09

FAQ

How many shares did Shell (SHEL) purchase on May 9, 2025?

Shell purchased approximately 1.57 million shares total: 811,000 shares across UK venues (LSE, Chi-X, BATS) and 755,000 shares across European venues (XAMS, CBOE DXE, TQEX).

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

Shell's current buyback program runs from May 2, 2025, to July 25, 2025, with BNP PARIBAS SA making independent trading decisions.

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

In the UK markets, shares were purchased between £24.49 and £24.775, while in European markets, prices ranged from €29.035 to €29.39.

Who is executing Shell's share buyback program?

BNP PARIBAS SA is executing the trades independently of Shell, following pre-set parameters and regulatory requirements.

What regulations govern Shell's share buyback program?

The program is conducted under UK Listing Rules, EU MAR, UK MAR, and the EU MAR Delegated Regulation, including post-Brexit adaptations.