Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased a total of 1,451,402 shares for cancellation on 13 November 2025 as part of its existing buy-back programme.

Purchases by venue: 728,934 shares on LSE at a VWAP of £28.7313 and 722,468 shares on XAMS at a VWAP of €32.6469. The programme runs from 30 October 2025 to 30 January 2026, with Merrill Lynch International making independent trading decisions within pre-set parameters for the on- and off-market limbs. Transactions follow UK Listing Rules Chapter 9 and EU/UK MAR requirements.

Positive

• 1,451,402 shares purchased for cancellation on 13 November 2025
• LSE purchase: 728,934 shares at VWAP £28.7313
• XAMS purchase: 722,468 shares at VWAP €32.6469
• Buy-back programme period: 30 Oct 2025 to 30 Jan 2026

Negative

• None.

Insights

Equity Capital Markets Analyst

Shell executed on‑market purchases totaling 1,451,402 shares on 13/11/2025 as part of its ongoing buy‑back programme.

These purchases — 728,934 shares on the LSE at a VWAP of 28.7313 GBP and 722,468 shares on XAMS at a VWAP of 32.6469 EUR — reduce the company’s share count and form part of the on‑ and off‑market limbs of the programme supervised by Merrill Lynch International between 30/10/2025 and 30/01/2026. The mechanics follow the Company’s existing authorities and relevant market abuse rules, with trades executed within pre‑set parameters.

Key dependencies and risks include the remaining size and timing of the programme and the independent trading mandate for Merrill Lynch International; these determine near‑term buyback pace and cash deployment. Watch completion of the programme by 30/01/2026 and any aggregated disclosure of total shares cancelled, which will directly affect residual share count and per‑share metrics over the coming quarter.

Transaction in Own Shares   

13 November, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 13 November, 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
13/11/2025	728,934	28.8300	28.6300	28.7313	LSE	GBP
13/11/2025	-	-	-	-	Chi-X (CXE)	GBP
13/11/2025	-	-	-	-	BATS (BXE)	GBP
13/11/2025	722,468	32.7500	32.5400	32.6469	XAMS	EUR
13/11/2025	-	-	-	-	CBOE DXE	EUR
13/11/2025	-	-	-	-	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

• 2025.11.13 Shell RNS (with fills)

FAQ

How many shares did Shell (SHEL) buy back on 13 November 2025?

Shell bought a total of 1,451,402 shares for cancellation on 13 November 2025.

What were the VWAPs for Shell (SHEL) buybacks on 13 November 2025 by venue?

VWAPs were £28.7313 on LSE (728,934 shares) and €32.6469 on XAMS (722,468 shares).

What is the time frame of Shell's (SHEL) buy-back programme mentioned on 13 November 2025?

The programme runs from 30 October 2025 up to and including 30 January 2026.

Who is making trading decisions for Shell's (SHEL) buy-back programme?

Merrill Lynch International will make trading decisions independently on behalf of Shell during the programme period.

Are Shell's (SHEL) buy-back transactions compliant with market rules?

Yes; the transactions are conducted under Chapter 9 UK Listing Rules and EU/UK MAR requirements stated in the announcement.