Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on May 6, 2025 as part of its buyback programme announced on May 2, 2025. The company purchased a total of 1,795,000 shares across multiple venues:

- London Stock Exchange (LSE): 672,837 shares at £24.47 VWAP - European venues (XAMS, CBOE DXE, TQEX): 804,000 shares at €28.98 VWAP - Other UK venues (Chi-X, BATS): 317,163 shares at £24.46 VWAP

BNP PARIBAS SA will independently manage trading decisions for this programme from May 2 to July 25, 2025, following pre-set parameters and regulatory requirements.

Positive

• Demonstrates strong commitment to returning value to shareholders through share repurchases
• Diversified execution across multiple trading venues ensures efficient price discovery
• Independent management by BNP Paribas provides transparency and compliance with regulatory requirements

Negative

• Share buybacks reduce company's cash reserves that could be used for business operations or growth
• May indicate limited organic growth opportunities for capital deployment

Insights

Financial Analyst

Shell continues executing its previously announced share buyback program, purchasing 1.8 million shares across multiple trading venues on May 6.

Shell has purchased approximately 1.8 million shares across various trading venues as part of its ongoing repurchase program. The transaction included 989,000 shares acquired on UK-based exchanges (LSE, Chi-X, BATS) at prices ranging from £24.27 to £24.68, and 805,000 shares on European exchanges (XAMS, CBOE DXE, TQEX) at prices between €28.78 and €29.16.

This activity represents the implementation of the buyback program announced on May 2, 2025, which is scheduled to run through July 25, 2025. BNP PARIBAS SA is executing these trades independently within pre-established parameters, following regulatory requirements including UK Listing Rules and Market Abuse Regulations.

This disclosure serves as a standard regulatory filing providing transparency into the daily execution of Shell's buyback activities. It documents the transaction details without offering new information about the strategic rationale or the overall program size relative to Shell's total market capitalization.

The buyback program includes both on-market purchases within pre-set parameters and off-market purchases through a previously approved buyback contract. The structured approach with independent execution suggests a systematic capital return strategy rather than opportunistic purchasing behavior.

Transaction in Own Shares

6 May, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 6 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
06/05/2025	672,837	£24.6800	£24.2650	£24.4663	LSE	GBP
06/05/2025	214,921	£24.6550	£24.2700	£24.4593	Chi-X (CXE)	GBP
06/05/2025	102,242	£24.6550	£24.2750	£24.4607	BATS (BXE)	GBP
06/05/2025	459,424	€29.1550	€28.7750	€28.9924	XAMS	EUR
06/05/2025	260,812	€29.1550	€28.7750	€28.9752	CBOE DXE	EUR
06/05/2025	84,764	€29.1400	€28.7800	€28.9824	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 06

FAQ

How many shares did Shell (SHEL) repurchase on May 6, 2025?

Shell purchased a total of 1,795,000 shares across various trading venues, including 672,837 shares on LSE, 804,000 shares on European venues, and 317,163 shares on other UK venues.

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

The current share buyback program runs from May 2, 2025, to July 25, 2025, with BNP PARIBAS SA managing the trading decisions independently.

What was the average price paid for Shell shares in the buyback on May 6, 2025?

Shell paid a volume-weighted average price of £24.47 per share on LSE, €28.99 on European venues, with prices ranging from £24.27 to £24.68 and €28.78 to €29.16 across different venues.

Who manages Shell's share buyback program?

BNP PARIBAS SA independently manages the trading decisions for Shell's buyback program, operating within pre-set parameters and regulatory requirements.