Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) announced a share buyback transaction on May 12, 2025, as part of its previously announced buyback programme. The company purchased a total of 1,325,000 shares across multiple venues: - London Stock Exchange (LSE): 478,357 shares at £25.09 VWAP - European venues (Chi-X, BATS): 241,643 shares at £25.08 VWAP - European exchanges (XAMS, CBOE DXE, TQEX): 605,000 shares at €29.95 VWAP The buyback program, managed independently by BNP PARIBAS SA, runs from May 2, 2025, to July 25, 2025, and includes both on-market and off-market purchases in accordance with UK and EU regulations.

Positive

• Continued execution of share buyback program demonstrates strong capital return commitment to shareholders
• Multi-exchange purchase strategy shows efficient capital deployment
• Independent management by BNP PARIBAS SA ensures market compliance and execution objectivity

Negative

• Capital expenditure on buybacks reduces cash available for operational investments
• Share purchases at relatively high price points (£24.93-£25.27) may impact program's cost-effectiveness

Insights

Financial Analyst

Shell continues executing its share buyback program, repurchasing over 1.3 million shares across multiple exchanges on May 12.

Shell plc has continued implementing its previously announced share buyback program with significant purchases on May 12, 2025. The company acquired approximately 1.32 million shares across multiple trading venues for cancellation, with 720,000 shares purchased on UK exchanges (LSE, Chi-X, BATS) at prices ranging from £24.93 to £25.27, and approximately 605,000 shares on European exchanges (XAMS, CBOE DXE, TQEX) at prices between €29.77 and €30.12.

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

Share repurchases are generally viewed as a strategic capital allocation decision that can benefit remaining shareholders by reducing the number of outstanding shares, potentially enhancing earnings per share metrics. For Shell, this ongoing buyback program reflects management's continued commitment to returning capital to shareholders while potentially indicating their view that the company's shares represent an attractive investment at current market prices.

The buyback execution demonstrates Shell's continued financial flexibility and adherence to its capital return framework. This systematic approach to share repurchases, conducted across multiple exchanges and currencies, shows Shell's sophisticated approach to managing its capital structure while navigating complex regulatory requirements across jurisdictions.

Transaction in Own Shares

12 May, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 12 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
12/05/2025	478,357	£25.2650	£24.9300	£25.0886	LSE	GBP
12/05/2025	149,113	£25.2500	£24.9900	£25.0825	Chi-X (CXE)	GBP
12/05/2025	92,530	£25.2250	£24.9800	£25.0825	BATS (BXE)	GBP
12/05/2025	310,529	€30.1100	€29.7700	€29.9432	XAMS	EUR
12/05/2025	233,988	€30.1150	€29.7700	€29.9457	CBOE DXE	EUR
12/05/2025	60,483	€30.1000	€29.7850	€29.9496	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 12

FAQ

How many shares did Shell (SHEL) purchase on May 12, 2025?

Shell purchased a total of 1,325,000 shares across multiple trading venues, including 720,000 shares on UK venues and 605,000 shares on European exchanges.

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

Shell's current share buyback program runs from May 2, 2025, to July 25, 2025, managed independently by BNP PARIBAS SA.

What was the price range for Shell's share purchases on May 12, 2025?

On the LSE, shares were purchased between £24.93 and £25.27, while on European exchanges, the price range was €29.77 to €30.12.

Who manages Shell's share buyback program?

BNP PARIBAS SA independently manages the trading decisions for Shell's buyback program.

Which trading venues did Shell use for its share purchases?

Shell purchased shares across multiple venues including LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE, and TQEX.