Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has announced a significant share buyback transaction conducted on July 31, 2025. The company purchased 1,000,000 shares on the London Stock Exchange (LSE) at prices ranging from £26.92 to £27.67, with a volume-weighted average price of £27.22 per share. Additionally, on European exchanges, Shell acquired 869,957 shares on XAMS and 130,043 shares on CBOE DXE.

The purchases are part of Shell's previously announced share buyback programme, which will be executed by HSBC Bank plc independently until October 24, 2025. The program includes both on-market and off-market components, operating under UK Listing Rules and Market Abuse Regulations.

Positive

• Implementation of share buyback program demonstrates strong capital return to shareholders
• Multiple exchange execution strategy shows efficient capital deployment
• Independent execution by HSBC Bank ensures market compliance and transparency

Negative

• Significant cash expenditure on buybacks may reduce funds available for operational investment

Insights

Financial Analyst

Shell continues its share buyback program, repurchasing 2 million shares across exchanges as part of capital return strategy.

Shell has executed another round of share repurchases as part of its previously announced buyback program, acquiring approximately 2 million shares across multiple trading venues. On the London Stock Exchange, Shell purchased 1,000,000 shares at prices ranging from £26.92 to £27.67, with a volume-weighted average price of £27.22. Additionally, the company bought 869,957 shares on the Amsterdam exchange (XAMS) and 130,043 shares on CBOE DXE at average prices of €31.65 and €31.59 respectively.

This buyback activity represents the ongoing implementation of Shell's capital allocation framework, which prioritizes returning value to shareholders while maintaining balance sheet strength. The current program runs from July 31 to October 24, 2025, with HSBC Bank making independent trading decisions within pre-established parameters. The repurchases are conducted through both on-market and off-market mechanisms in compliance with UK Listing Rules and Market Abuse Regulations.

Share repurchases generally benefit remaining shareholders by reducing the number of outstanding shares, which can improve per-share metrics and support share price. For a company of Shell's size, this particular repurchase represents a modest portion of its outstanding shares but demonstrates continued commitment to its shareholder return strategy amid the evolving energy landscape. The structured nature of the program, with independent execution by HSBC, helps ensure market integrity during the implementation process.

Transaction in Own Shares   

31 July, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 31 July, 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
31/07/2025	1,000,000	£27.6700	£26.9200	£27.2208	LSE	GBP
31/07/2025	-	-	-	-	Chi-X (CXE)	GBP
31/07/2025	-	-	-	-	BATS (BXE)	GBP
31/07/2025	869,957	€32.2300	€31.2700	€31.6478	XAMS	EUR
31/07/2025	130,043	€31.6850	€31.4100	€31.5873	CBOE DXE	EUR
31/07/2025	-	-	-	-	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) 20250731

FAQ

How many shares did Shell (SHEL) purchase on July 31, 2025?

Shell purchased a total of 2 million shares across different exchanges: 1 million shares on LSE, 869,957 shares on XAMS, and 130,043 shares on CBOE DXE.

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

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

What was the average price paid for Shell shares on the LSE?

On the LSE, Shell paid a volume-weighted average price of £27.2208 per share, with prices ranging from £26.92 to £27.67.

Who is executing Shell's share buyback program?

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

What regulations govern Shell's share buyback program?

The program is conducted under Chapter 9 of the UK Listing Rules, EU MAR, UK MAR, and the Commission Delegated Regulation, ensuring regulatory compliance in all jurisdictions.