Transaction in Own Shares

Rhea-AI Summary

Shell plc announced a significant share buyback transaction on May 22, 2025, purchasing shares across multiple trading venues. The company acquired 1,260,000 shares on UK venues (LSE, Chi-X, and BATS) at prices ranging from £24.28 to £24.64, and 1,170,000 shares on European venues (XAMS, CBOE DXE, and TQEX) at prices between €29.00 and €29.37. This buyback is part of Shell's previously announced share repurchase programme from May 2 to July 25, 2025, managed independently by BNP PARIBAS SA. The programme includes both on-market and off-market purchases, conducted in accordance with UK and EU market regulations.

Positive

• Significant share buyback demonstrates strong financial position and commitment to returning value to shareholders
• Multi-venue purchase strategy shows efficient capital deployment across markets
• Independent management by BNP PARIBAS SA ensures market compliance and execution efficiency

Negative

• Large cash expenditure reduces available capital for operational investments
• Share buyback may limit financial flexibility in case of market downturn

Insights

Financial Analyst

Shell continues executing its previously announced share buyback program, repurchasing 2.43 million shares across global exchanges on May 22.

Shell's latest transaction report reveals the company purchased approximately 2.43 million shares on May 22, 2025, as part of its ongoing buyback program announced earlier on May 2. The repurchases were executed across multiple trading venues with varying price points - on the London Stock Exchange at a volume-weighted average price (VWAP) of £24.46 per share, while European purchases occurred at roughly €29.22 VWAP.

This buyback activity represents a significant capital allocation decision by Shell's management. Share repurchases typically indicate management's confidence in the company's financial position and often reflect a belief that shares are undervalued. For Shell specifically, these repurchases are part of a structured program with pre-determined parameters, managed independently by BNP PARIBAS SA, running through July 25, 2025.

The buyback program implements both on-market and off-market components, with the former operating within Shell's general repurchase authority and the latter functioning through a shareholder-approved contract. The methodical approach follows regulatory requirements including UK Listing Rules and Market Abuse Regulations, demonstrating Shell's commitment to proper governance in capital return activities.

For investors, this continuation of the buyback program signals Shell's ongoing commitment to returning capital to shareholders, which typically supports share price stability while potentially improving per-share metrics like earnings per share by reducing the outstanding share count.

Transaction in Own Shares

22 May, 2025

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Shell plc (the ‘Company’) announces that on 22 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
22/05/2025	813,565	£24.6400	£24.2800	£24.4578	LSE	GBP
22/05/2025	300,720	£24.6350	£24.2800	£24.4781	Chi-X (CXE)	GBP
22/05/2025	145,715	£24.6400	£24.2950	£24.5239	BATS (BXE)	GBP
22/05/2025	679,135	€29.3700	€29.0000	€29.2047	XAMS	EUR
22/05/2025	413,262	€29.3700	€29.0000	€29.1801	CBOE DXE	EUR
22/05/2025	77,603	€29.3550	€29.0350	€29.2677	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 22

FAQ

How many shares did Shell (SHEL) buy back on May 22, 2025?

Shell purchased approximately 2.43 million shares in total: 1.26 million shares across UK venues (LSE, Chi-X, and BATS) and 1.17 million shares across European venues (XAMS, CBOE DXE, and TQEX).

What is the price range of Shell's share buyback on May 22, 2025?

In the UK markets, shares were purchased between £24.28 and £24.64. In European markets, shares were bought between €29.00 and €29.37.

Who is managing Shell's 2025 share buyback program?

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

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

The current share buyback programme runs from May 2, 2025, up to and including July 25, 2025.

Which trading venues did Shell (SHEL) use for its share buyback?

Shell purchased shares across six venues: LSE, Chi-X (CXE), and BATS (BXE) in the UK, and XAMS, CBOE DXE, and TQEX in Europe.