Transaction in Own Shares

Rhea-AI Summary

On May 8, 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: - 875,000 shares on London venues (LSE, Chi-X, BATS) at prices between £24.20-24.50 - 815,000 shares on European venues (XAMS, CBOE DXE, TQEX) at prices between €28.71-29.00 BNP PARIBAS SA will independently manage trading decisions for this buyback program from May 2 to July 25, 2025. The purchases comply with UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Continued execution of share buyback program demonstrates strong commitment to returning value to shareholders
• Multi-venue purchase strategy suggests efficient capital deployment and market liquidity
• Independent management by BNP Paribas ensures transparent and regulated execution

Negative

• Share buybacks reduce company's cash reserves that could be used for operational growth or investments

Insights

Financial Analyst

Shell continues its share buyback program, repurchasing 1.69 million shares worth approximately £21.3M and €28.9M across multiple venues.

Shell's May 8th share repurchase represents a routine execution of its previously announced buyback program. The company acquired 875,000 shares across London venues (LSE, Chi-X, BATS) at average prices around £24.35, alongside 815,000 shares on European exchanges at approximately €28.86 per share.

This transaction forms part of Shell's buyback program announced on May 2, 2025, which will continue through July 25. The program includes both on-market and off-market components, with BNP PARIBAS SA making independent trading decisions within pre-established parameters.

From a capital allocation perspective, share repurchases and cancellations reduce the number of outstanding shares, which mathematically increases earnings per share even without underlying business growth. For existing shareholders, buybacks effectively increase their proportional ownership stake in the company.

This transaction represents a standard implementation of Shell's capital return strategy rather than new strategic information. The company is executing the buyback under strict regulatory frameworks including UK Listing Rules and Market Abuse Regulations, ensuring compliance with both UK and EU standards despite post-Brexit adjustments.

Transaction in Own Shares

8 May, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 8 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
08/05/2025	606,148	£24.4950	£24.2000	£24.3499	LSE	GBP
08/05/2025	155,872	£24.4950	£24.2000	£24.3538	Chi-X (CXE)	GBP
08/05/2025	112,980	£24.5000	£24.2200	£24.3888	BATS (BXE)	GBP
08/05/2025	499,402	€29.0000	€28.7100	€28.8583	XAMS	EUR
08/05/2025	238,866	€28.9850	€28.7200	€28.8571	CBOE DXE	EUR
08/05/2025	76,732	€28.9850	€28.7350	€28.8680	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 08

FAQ

How many shares did Shell (SHEL) repurchase on May 8, 2025?

Shell purchased approximately 1.69 million shares across multiple venues, including 875,000 shares on London venues (LSE, Chi-X, BATS) and 815,000 shares on European venues (XAMS, CBOE DXE, TQEX).

What is the price range for Shell's share buyback on May 8, 2025?

On London venues, shares were purchased between £24.20-24.50, while on European venues, the price range was €28.71-29.00.

Who manages Shell's 2025 share buyback program?

BNP PARIBAS SA independently manages the trading decisions for Shell's buyback program from May 2 to July 25, 2025.

What regulations govern Shell's 2025 share buyback program?

The program is conducted in accordance with UK Listing Rules, EU Market Abuse Regulation (MAR), UK MAR, and related delegated regulations.