Transaction in Own Shares

Rhea-AI Summary

On May 20, 2025, Shell plc (SHEL) executed share repurchases across multiple trading venues as part of its buyback program announced on May 2, 2025. The company purchased: - 732,000 shares on London venues (LSE, Chi-X, BATS) at prices between £24.67 and £24.94 - 739,000 shares on European venues (XAMS, CBOE DXE, TQEX) at prices between €29.47 and €29.77 BNP PARIBAS SA will independently manage trading decisions for the buyback program from May 2 to July 25, 2025. The program includes both on-market and off-market purchases, conducted in accordance with UK and EU market regulations.

Positive

• Ongoing share buyback program demonstrates strong commitment to returning value to shareholders
• Multi-venue execution strategy suggests efficient implementation of the buyback program
• Independent management by BNP Paribas ensures market compliance and trading expertise

Negative

• Share repurchases reduce company's cash reserves
• Buyback may limit funds available for operational growth or investments

Insights

Corporate Finance Analyst

Shell's ongoing share buyback program continues with the purchase of 1.47 million shares across multiple exchanges, supporting shareholder value.

Shell's latest transaction report shows the company purchased approximately 1.47 million shares across multiple trading venues on May 20, 2025, as part of its previously announced share buyback program. The company acquired 732,000 shares on London-based exchanges at prices ranging from £24.67 to £24.94 with a volume-weighted average price of about £24.80. Additionally, Shell purchased 739,000 shares on European exchanges at prices between €29.48 and €29.77, with volume-weighted averages near €29.63.

This activity represents the continuation of Shell's share repurchase program announced on May 2, 2025, which is scheduled to run through July 25, 2025. The program is being executed by BNP PARIBAS SA, which makes trading decisions independently within pre-set parameters established by Shell. The buyback includes both on-market purchases (executed within the company's general authority to repurchase shares on open markets) and off-market purchases (conducted according to shareholder-approved contracts).

Share buybacks typically benefit investors through enhanced shareholder value as they reduce the number of outstanding shares, potentially increasing earnings per share and supporting share prices. This program demonstrates Shell's confidence in its financial position and commitment to returning capital to shareholders. The structured approach with independent execution by BNP PARIBAS SA indicates a disciplined capital allocation strategy operating within regulatory frameworks including UK Listing Rules and Market Abuse Regulations.

Transaction in Own Shares

20 May, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 20 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
20/05/2025	511,994	£24.9350	£24.6700	£24.8005	LSE	GBP
20/05/2025	141,516	£24.9400	£24.6700	£24.8060	Chi-X (CXE)	GBP
20/05/2025	78,490	£24.9400	£24.6750	£24.8024	BATS (BXE)	GBP
20/05/2025	456,063	€29.7700	€29.4750	€29.6347	XAMS	EUR
20/05/2025	213,362	€29.7700	€29.4750	€29.6294	CBOE DXE	EUR
20/05/2025	69,575	€29.7300	€29.4800	€29.5971	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 20

FAQ

How many shares did Shell (SHEL) repurchase on May 20, 2025?

Shell purchased approximately 1.47 million shares across multiple venues: 732,000 shares on London venues (LSE, Chi-X, BATS) and 739,000 shares on European venues (XAMS, CBOE DXE, TQEX).

What is the price range for Shell's share buyback on May 20, 2025?

On London venues, shares were purchased between £24.67 and £24.94, while on European venues, the price range was €29.47 to €29.77.

Who manages Shell's 2025 buyback program and for how long?

BNP PARIBAS SA manages the trading decisions independently from May 2, 2025, to July 25, 2025.

What regulations govern Shell's 2025 share buyback program?

The program is conducted under UK Listing Rules, EU MAR, UK MAR, and the EU MAR Delegated Regulation, ensuring compliance with both UK and EU market regulations.