Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased shares for cancellation on 02 December 2025 under its existing buy-back programme announced on 30 October 2025. Purchases executed by venue:

• LSE: 745,510 shares, VWAP £27.9828 (high £28.1250 / low £27.7950)
• XAMS: 740,501 shares, VWAP €31.9135 (high €32.0650 / low €31.7000)

Merrill Lynch International is making independent trading decisions for the programme from 30 October 2025 to 30 January 2026. On- and off-market limbs are being executed under UK Listing Rules Chapter 9 and UK MAR/EU MAR requirements, with purchases effected pursuant to the shareholder-approved off-market contract where applicable.

Positive

• 745,510 shares purchased on LSE at VWAP £27.9828
• 740,501 shares purchased on XAMS at VWAP €31.9135
• Purchases made for cancellation, reducing shares outstanding

Negative

• None.

Insights

Corporate Finance Analyst

Shell executed on-market share purchases totalling 1,486,011 shares across LSE and XAMS on 02 December, 2025.

These purchases form part of the existing buy-back programme running from 30 October 2025 to 30 January 2026. The Company bought 745,510 shares on the LSE at a volume-weighted average price of 27.9828 (GBP) and 740,501 shares on XAMS at a volume-weighted average price of 31.9135 (EUR). The shares purchased will be cancelled under the programme.

This is a routine capital-allocation execution rather than a strategic pivot; its significance depends on the aggregate purchases and remaining authorised quantity. Watch daily breakdowns and cumulative totals filed under EU MAR/UK MAR before the programme end on 30 January 2026 to assess materiality and cash deployment.

Transaction in Own Shares   

02 December, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 02 December, 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
02/12/2025	745,510	28.1250	27.7950	27.9828	LSE	GBP
02/12/2025	-	-	-	-	Chi-X (CXE)	GBP
02/12/2025	-	-	-	-	BATS (BXE)	GBP
02/12/2025	740,501	32.0650	31.7000	31.9135	XAMS	EUR
02/12/2025	-	-	-	-	CBOE DXE	EUR
02/12/2025	-	-	-	-	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

Attachment

• 2025.12.02 Shell RNS (with fills)

FAQ

How many shares did Shell (SHEL) buy on 02 December 2025 and where?

Shell bought 745,510 shares on LSE and 740,501 on XAMS on 02 December 2025.

What were the VWAPs for Shell (SHEL) buybacks on 02 December 2025?

VWAPs reported were £27.9828 on LSE and €31.9135 on XAMS for 02 December 2025.

Are Shell's share purchases on 02 December 2025 part of a larger programme (SHEL)?

Yes. The purchases form part of Shell's buy-back programme announced on 30 October 2025 running through 30 January 2026.

Who is executing Shell's (SHEL) buy-back trades and for how long?

Merrill Lynch International is making independent trading decisions for the programme from 30 October 2025 to 30 January 2026.

Were Shell's 02 December 2025 buybacks on-market or off-market (SHEL)?

The programme includes both on-market and off-market limbs; the announcement lists on-market venue trades and references the shareholder-approved off-market contract.

Will Shell (SHEL) cancel the shares it bought on 02 December 2025?

Yes. The announcement states the shares purchased on 02 December 2025 were acquired for cancellation.