Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has executed significant share repurchases across multiple trading venues on September 30, 2025, as part of its existing buyback programme announced on July 31, 2025. The company purchased a total of 2,524,523 shares across various exchanges, including 1,299,523 shares on London venues (LSE, Chi-X, BATS) at prices ranging from £26.31 to £26.83, and 1,225,000 shares on European venues (XAMS, CBOE DXE) at prices between €30.26 and €30.85.

The buyback program, managed independently by HSBC Bank plc, will continue until October 24, 2025, operating through both on-market and off-market mechanisms in accordance with UK and EU regulatory frameworks.

Positive

• None.

Negative

• Significant cash expenditure on buybacks may reduce funds available for operational investment

Insights

Financial Analyst

Shell continues its share buyback program, repurchasing over 2.5 million shares across multiple venues on September 30, 2025.

Shell's latest share repurchase activity represents a significant capital allocation decision that continues the buyback program announced on July 31, 2025. The company purchased approximately 1.3 million shares on the London exchanges at prices ranging between £26.32 and £26.84, plus an additional 1.2+ million shares on European exchanges at prices between €30.27 and €30.85.

This systematic repurchase program signals management's confidence in Shell's underlying value and financial health. By reducing the number of outstanding shares, the buyback mathematically increases earnings per share and typically supports share price. It effectively returns excess capital to shareholders in a tax-efficient manner compared to dividends.

The buyback's execution by HSBC Bank independently within regulatory frameworks (UK/EU Market Abuse Regulations) demonstrates proper governance and compliance. The program's predetermined timeframe through October 24, 2025, provides transparency to market participants.

This continued share repurchase activity represents a vote of confidence from Shell's management in the company's financial position and future prospects, particularly notable in the energy sector where capital allocation decisions directly impact long-term competitive positioning.

Transaction in Own Shares   

30 September, 2025

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Shell plc (the ‘Company’) announces that on 30 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
30/09/2025	628,767	£26.8300	£26.3150	£26.5125	LSE	GBP
30/09/2025	175,003	£26.8350	£26.4400	£26.6510	Chi-X (CXE)	GBP
30/09/2025	495,753	£26.8350	£26.3150	£26.4986	BATS (BXE)	GBP
30/09/2025	876,082	€30.8500	€30.2650	€30.4720	XAMS	EUR
30/09/2025	348,918	€30.8250	€30.3000	€30.6006	CBOE DXE	EUR
30/09/2025	-	-	-	-	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) 20250930

FAQ

How many shares did Shell (SHEL) purchase on September 30, 2025?

Shell purchased a total of 2,524,523 shares across multiple trading venues, including 1,299,523 shares on London venues and 1,225,000 shares on European venues.

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 30, 2025?

On London venues, shares were purchased between £26.31 and £26.83, while on European venues, the price range was €30.26 to €30.85.

Who manages Shell's share buyback program?

HSBC Bank plc manages the program independently of Shell, making trading decisions within pre-set parameters.

What regulatory frameworks govern Shell's buyback programme?

The program operates under UK Listing Rules Chapter 9, EU MAR, UK MAR, and the EU MAR Delegated Regulation, ensuring compliance with both UK and EU regulatory requirements.