Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has executed another phase of its share buyback program on September 25, 2025, purchasing shares across multiple trading venues. The company acquired 679,781 shares in GBP across LSE, Chi-X, and BATS platforms, and 678,788 shares in EUR through XAMS and CBOE DXE venues.

The purchases are part of Shell's buyback 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, in compliance with UK Listing Rules and Market Abuse Regulations.

Positive

• None.

Negative

• Capital spent on buybacks reduces cash available for operational investments
• Share repurchases may limit financial flexibility in uncertain market conditions

Insights

Corporate Finance Analyst

Shell continues its share buyback program, purchasing 1.36 million shares across global exchanges at approximately £26.86 and €30.86 per share.

Shell plc has executed another round of share repurchases as part of its previously announced buyback program, acquiring approximately 1.36 million shares across multiple trading venues on September 25, 2025. The company purchased 679,781 shares on London-based exchanges at prices ranging from £26.72 to £27.02, with volume-weighted average prices around £26.86. Additionally, Shell acquired 678,788 shares on European exchanges at prices between €30.70 and €31.02, averaging approximately €30.86 per share.

This activity represents the ongoing implementation of Shell's buyback program announced on July 31, 2025, which is scheduled to continue through October 24, 2025. The program is being executed by HSBC Bank plc, which makes independent trading decisions within pre-established parameters. The buyback includes both on-market purchases (conducted within regulatory frameworks) and off-market repurchases (executed according to shareholder-approved contracts).

Share buybacks typically benefit remaining shareholders by reducing the number of outstanding shares, which can increase earnings per share and potentially support share price. For a company of Shell's size in the energy sector, these regular share repurchases signal management's continued confidence in the company's financial position and commitment to returning capital to shareholders. The buyback program operates under strict regulatory oversight, including UK Listing Rules, Market Abuse Regulations, and Brexit-adjusted regulatory frameworks.

Transaction in Own Shares   

25 September, 2025

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Shell plc (the ‘Company’) announces that on 25 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
25/09/2025	307,315	£27.0200	£26.7150	£26.8601	LSE	GBP
25/09/2025	149,574	£26.9450	£26.7150	£26.8068	Chi-X (CXE)	GBP
25/09/2025	222,892	£27.0200	£26.7150	£26.8566	BATS (BXE)	GBP
25/09/2025	382,200	€31.0200	€30.6950	€30.8618	XAMS	EUR
25/09/2025	296,588	€31.0200	€30.6950	€30.8560	CBOE DXE	EUR
25/09/2025	-	-	-	-	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) 20250925

FAQ

How many shares did Shell (SHEL) purchase on September 25, 2025?

Shell purchased a total of 1,358,569 shares across multiple venues - 679,781 shares in GBP (LSE, Chi-X, BATS) and 678,788 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 during this period.

What was the highest price Shell paid per share in the buyback?

Shell paid a maximum of £27.02 per share on LSE and BATS (BXE), and €31.02 per share on XAMS and CBOE DXE venues.

How is Shell's share buyback program being executed?

The program is executed through both on-market and off-market transactions, managed independently by HSBC Bank plc, following pre-set parameters and complying with UK Listing Rules and Market Abuse Regulations.

Which trading venues did Shell use for its share purchases?

Shell purchased shares across five venues: London Stock Exchange (LSE), Chi-X (CXE), BATS (BXE), XAMS, and CBOE DXE.