Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has executed significant share repurchases across multiple trading venues on September 29, 2025, as part of its existing buyback programme announced on July 31, 2025. The company purchased a total of 935,000 shares in GBP across LSE, Chi-X, and BATS venues, and 936,000 shares in EUR across XAMS and CBOE DXE venues.

The share buyback programme, managed independently by HSBC Bank plc, will continue until October 24, 2025. The initiative includes both on-market and off-market purchases, conducted in accordance with UK Listing Rules, Market Abuse Regulations, and other relevant regulatory frameworks.

Positive

• None.

Negative

• Significant cash outflow for share repurchases could impact available capital for other investments

Insights

Financial Analyst

Shell continues executing its announced share buyback program, repurchasing 1.87M shares across various trading venues.

Shell's latest share buyback transaction represents a substantial capital allocation decision, with the company purchasing approximately 1.87 million shares across multiple trading venues. The company acquired 935,000 shares on the London Stock Exchange and affiliated platforms at prices ranging between £26.89 and £27.38, with a volume-weighted average price of about £27.14. An additional 936,000 shares were purchased on European exchanges at prices between €30.90 and €31.51.

This buyback activity is part of Shell's previously announced repurchase program from July 31, which will continue through October 24, 2025. The systematic nature of the buybacks—conducted through HSBC Bank making independent trading decisions within pre-set parameters—demonstrates a structured approach to capital return. These share cancellations reduce the outstanding share count, potentially increasing earnings per share and creating shareholder value if executed at appropriate valuations.

The buyback program operates through both on-market purchases (subject to general repurchase authority) and off-market transactions (governed by shareholder-approved contracts). This dual approach provides flexibility while maintaining regulatory compliance with UK Listing Rules, Market Abuse Regulations, and associated delegated regulations that govern such capital allocation activities.

Transaction in Own Shares   

29 September, 2025

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Shell plc (the ‘Company’) announces that on 29 September, 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
29/09/2025	421,386	£27.3800	£26.8850	£27.1269	LSE	GBP
29/09/2025	173,765	£27.3750	£26.8850	£27.2016	Chi-X (CXE)	GBP
29/09/2025	339,849	£27.3750	£26.8850	£27.1030	BATS (BXE)	GBP
29/09/2025	586,619	€31.5050	€30.8950	€31.1553	XAMS	EUR
29/09/2025	349,381	€31.5050	€30.9000	€31.2147	CBOE DXE	EUR
29/09/2025	-	-	-	-	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 31 July 2025.

In respect of this programme, HSBC Bank plc will make trading decisions in relation to the securities independently of the Company for a period from 31 July 2025 up to and including 24 October 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 HSBC Bank plc 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

• Shell RNS (Extended) 20250929

FAQ

How many shares did Shell (SHEL) purchase on September 29, 2025?

Shell purchased approximately 1.87 million shares total across various venues - 935,000 shares in GBP (LSE, Chi-X, BATS) and 936,000 shares in EUR (XAMS, CBOE DXE).

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

The current buyback programme runs from July 31, 2025 to October 24, 2025, with HSBC Bank plc making independent trading decisions.

What was the price range for Shell's share purchases on September 29, 2025?

On LSE, shares were purchased between £26.8850 and £27.3800. On European venues, the price range was €30.8950 to €31.5050.

How is Shell's share buyback programme being executed?

The programme includes both on-market and off-market purchases, managed independently by HSBC Bank plc, in compliance with UK Listing Rules and Market Abuse Regulations.

What was the volume weighted average price for Shell shares on LSE?

The volume weighted average price on LSE was £27.1269 per share, with 421,386 shares purchased on this venue.