Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) announced on 31 October 2025 that it purchased shares for cancellation under its existing buy-back programme. The Company bought 728,189 shares on the LSE at a volume‑weighted average price of GBP 28.4703 and 728,735 shares on XAMS at a volume‑weighted average price of EUR 32.4249, both on 31/10/2025.

The purchases form part of the on‑ and off‑market limbs of the programme running from 30 October 2025 to 30 January 2026, with Merrill Lynch International making trading decisions independently under pre‑set parameters. The programme is conducted under UK MAR and related regulations.

Positive

• Total shares repurchased on 31/10/2025: 1,456,924
• Executed on multiple venues with VWAPs of GBP 28.4703 (LSE) and EUR 32.4249 (XAMS)

Negative

• None.

Insights

Equity Capital Actions Specialist

Shell executed on its announced buy-back, cancelling 1,456,924 shares across LSE and XAMS on 31/10/2025.

The Company purchased 728,189 shares on the LSE at a volume-weighted average price of 28.4703 GBP and 728,735 shares on XAMS at a VWAP of 32.4249 EUR. These purchases form part of the on- and off-market limbs of the previously announced buy-back programme and will be cancelled, which reduces share count directly.

Key dependencies and risks include the stated timeframe for independent trading decisions by Merrill Lynch International (30/10/2025 to 30/01/2026) and compliance with UK MAR/Chapter 9 rules; any changes to either the programme parameters or regulatory constraints would alter execution pace. Watch for subsequent daily trade breakdowns while the programme runs and the cumulative shares cancelled by the programme through 30/01/2026.

Transaction in Own Shares   

31 October, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 31 October, 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
31/10/2025	728,189	28.7350	28.3050	28.4703	LSE	GBP
31/10/2025	-	-	-	-	Chi-X (CXE)	GBP
31/10/2025	-	-	-	-	BATS (BXE)	GBP
31/10/2025	728,735	32.7200	32.1950	32.4249	XAMS	EUR
31/10/2025	-	-	-	-	CBOE DXE	EUR
31/10/2025	-	-	-	-	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 30 October 2025.

In respect of this programme, Merrill Lynch International will make trading decisions in relation to the securities independently of the Company for a period from 30 October 2025 up to and including 30 January 2026.

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 Merrill Lynch International 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

• 2025.10.31 Shell RNS (with fills)

FAQ

How many Shell (SHEL) shares were repurchased on 31 October 2025?

Shell repurchased a total of 1,456,924 shares on 31 October 2025 (728,189 on LSE and 728,735 on XAMS).

What were the VWAPs for Shell (SHEL) buybacks on 31/10/2025?

The volume‑weighted average prices were GBP 28.4703 on LSE and EUR 32.4249 on XAMS.

Is Shell's buyback programme active and what is its timeframe (SHEL)?

Yes; the programme runs from 30 October 2025 up to and including 30 January 2026.

Who made trading decisions for Shell (SHEL) repurchases between 30 Oct 2025 and 30 Jan 2026?

Merrill Lynch International will make trading decisions independently on behalf of Shell for that period.

Were Shell (SHEL) repurchases conducted on‑market or off‑market on 31 October 2025?

Purchases were part of both on‑market and off‑market limbs of the existing buy‑back programme; fills on 31/10/2025 were reported on LSE and XAMS.

Under which regulations is Shell's (SHEL) buy‑back programme being conducted?

The programme is conducted under UK MAR and related delegated regulations (on‑shored EU MAR requirements).