Transaction in Own Shares

Rhea-AI Summary

Shell plc announced share repurchases conducted on June 23, 2025, as part of its existing buyback programme announced on May 2, 2025. The company bought back a total of 793,000 shares on the London exchanges (LSE, Chi-X, BATS) at prices between £26.83 and £27.17, and 787,000 shares on European exchanges (XAMS, CBOE DXE, TQEX) at prices between €31.51 and €31.90. BNP PARIBAS SA is managing the trading decisions independently until July 25, 2025. The buyback program is being conducted in accordance with UK and EU market regulations, including both on-market and off-market components.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Multiple trading venues utilized for efficient share repurchases
• Independent management by BNP PARIBAS SA ensures market compliance and trading objectivity

Negative

• None.

Insights

Financial Analyst

Shell continues its share buyback program, repurchasing ~1.58 million shares across multiple exchanges as part of a pre-announced capital return strategy.

Shell's latest share repurchase activity represents the continuing execution of their previously announced buyback program from May 2, 2025. On June 23rd alone, the company repurchased approximately 1.58 million shares across multiple trading venues, with 793,000 shares purchased on UK exchanges at an average price of £26.97 and 787,000 shares on European exchanges at roughly €31.67.

This buyback is part of a structured program running through July 25, 2025, being executed independently by BNP PARIBAS within pre-determined parameters. The repurchase program includes both on-market and off-market components, operating within regulatory frameworks including UK Listing Rules and Market Abuse Regulations.

Share repurchases generally signal management's confidence in company valuation and provide two key benefits to shareholders: they reduce the number of outstanding shares (increasing earnings per share) and typically support share price by creating additional demand. For Shell specifically, this program represents a strategic capital allocation decision that returns value to shareholders while potentially indicating management believes shares are undervalued at current prices.

The transparency in reporting purchase prices (ranging from £26.83 to £27.17 on UK exchanges) and volumes across different venues demonstrates compliance with regulatory requirements while giving investors visibility into program execution. The controlled, algorithmic nature of the purchases (managed by BNP PARIBAS) helps ensure market impact is minimized while achieving program objectives.

Transaction in Own Shares

23 June, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 23 June, 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
23/06/2025	572,118	£27.1650	£26.8300	£26.9648	LSE	GBP
23/06/2025	140,130	£27.1500	£26.8300	£26.9689	Chi-X (CXE)	GBP
23/06/2025	80,752	£27.1400	£26.8300	£26.9805	BATS (BXE)	GBP
23/06/2025	499,049	€31.8950	€31.5050	€31.6728	XAMS	EUR
23/06/2025	245,795	€31.8950	€31.5050	€31.6733	CBOE DXE	EUR
23/06/2025	42,156	€31.8550	€31.6100	€31.7433	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 06 23

FAQ

How many shares did Shell (SHEL) repurchase on June 23, 2025?

Shell repurchased approximately 1.58 million shares total - 793,000 shares on London exchanges (LSE, Chi-X, BATS) and 787,000 shares on European exchanges (XAMS, CBOE DXE, TQEX).

What was the price range for Shell's share buyback on June 23, 2025?

On London exchanges, shares were purchased between £26.83 and £27.17, while on European exchanges the price range was €31.51 to €31.90.

Who is managing Shell's buyback program and until when?

BNP PARIBAS SA is independently managing the trading decisions for the buyback program from May 2, 2025 until July 25, 2025.

What regulations govern Shell's share buyback program?

The program is conducted under UK Listing Rules Chapter 9, EU MAR and UK MAR regulations, and the Commission Delegated Regulation (EU) 2016/1052.