Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has executed significant share repurchases across multiple trading venues on August 28, 2025, as part of its previously announced buyback program. The company purchased a total of 748,524 shares on the London exchanges (LSE, Chi-X, and BATS) at prices ranging from £27.0250 to £27.2900, and 897,159 shares on European exchanges (XAMS and CBOE DXE) at prices between €31.3800 and €31.7500.

The transactions 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 program independently, executing both on-market and off-market purchases within pre-set parameters and regulatory frameworks.

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 compliance

Negative

• Capital expenditure on buybacks reduces cash available for operational investments
• Share repurchases at relatively high price points (£27.29 maximum) may impact program efficiency

Insights

Corporate Finance Specialist

Shell continues its share buyback program, repurchasing 1.65 million shares across multiple venues as part of its previously announced capital return strategy.

Shell's latest transaction report reveals the company purchased approximately 1.65 million shares across multiple trading venues on August 28, 2025, as part of its ongoing share repurchase program announced on July 31, 2025. The buyback included approximately 748,500 shares across London exchanges (LSE, Chi-X, and BATS) at prices ranging from £27.03 to £27.29, with volume-weighted average prices around £27.15. Additionally, Shell acquired roughly 897,200 shares on European exchanges at prices between €31.38 and €31.75.

This systematic repurchase activity is being executed by HSBC Bank, which makes independent trading decisions within pre-set parameters established by Shell. The current buyback window extends through October 24, 2025, operating through both on-market and off-market mechanisms in compliance with UK Listing Rules and Market Abuse Regulations.

Share repurchases typically signal management's confidence in the company's financial position and represent a tax-efficient method of returning capital to shareholders while potentially supporting the share price. For long-term Shell investors, this continuation of the buyback program indicates the company remains committed to its capital return strategy while reducing the total number of outstanding shares, which can enhance earnings per share metrics even without operational growth.

Transaction in Own Shares   

28 August, 2025

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Shell plc (the ‘Company’) announces that on 28 August, 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
28/08/2025	368,492	£27.2900	£27.0250	£27.1509	LSE	GBP
28/08/2025	201,085	£27.2850	£27.0250	£27.1440	Chi-X (CXE)	GBP
28/08/2025	178,947	£27.2900	£27.0250	£27.1481	BATS (BXE)	GBP
28/08/2025	527,207	€31.7500	€31.3950	€31.5678	XAMS	EUR
28/08/2025	369,952	€31.7500	€31.3800	€31.5548	CBOE DXE	EUR
28/08/2025	-	-	-	-	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) 20250828

FAQ

How many shares did Shell (SHEL) repurchase on August 28, 2025?

Shell purchased 748,524 shares across London exchanges (LSE, Chi-X, and BATS) and 897,159 shares on European exchanges (XAMS and CBOE DXE), totaling 1,645,683 shares.

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 repurchases on August 28, 2025?

On London exchanges, shares were purchased between £27.0250 and £27.2900, while on European exchanges, the price range was €31.3800 to €31.7500.

Who manages Shell's share buyback program?

HSBC Bank plc manages the program independently, making trading decisions within pre-set parameters for both on-market and off-market purchases.

What regulatory frameworks govern Shell's buyback program?

The program is conducted under UK Listing Rules Chapter 9, EU and UK Market Abuse Regulation (MAR), and related Commission Delegated Regulations.