Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) announced that on 27 November 2025 it purchased and cancelled a total of 1,470,194 shares across trading venues as part of its existing buy-back programme announced 30 October 2025.

Purchases reported: 722,180 shares on LSE (VWAP £27.5232) and 748,014 shares on XAMS (VWAP €31.5143). Merrill Lynch International is executing the programme independently for the period 30 Oct 2025–30 Jan 2026. Transactions comply with UK MAR/EU MAR rules and the company’s on‑ and off‑market authorities; shares were cancelled.

Positive

• Purchased 1,470,194 shares for cancellation on 27 November 2025
• Repurchases executed on LSE and XAMS with VWAPs of £27.5232 and €31.5143
• Buy-back executed under existing programme with independent manager (Merrill Lynch) through 30 Jan 2026

Negative

• None.

Insights

Equity Capital Markets Analyst

Shell executed on-market buybacks today, cancelling 1,470,194 shares under an existing programme running to 30 January 2026.

Shell plc purchased 722,180 shares on the LSE at a volume weighted average price of GBP 27.5232 and 748,014 shares on XAMS at EUR 31.5143. The purchases are part of the on- and off-market limbs of the buy-back programme announced 30 October 2025, with Merrill Lynch International executing trades independently through the programme window.

The business mechanism is straightforward: the company is reducing share count by cancelling repurchased stock, which concentrates ownership and can raise per-share metrics absent other changes. Key dependencies and risks include the remaining size and duration of the programme and compliance with the stated trading parameters and UK/EU MAR rules; these factors determine how material the cancellations will be to reported per-share figures. Watch for cumulative buy-back totals and any further daily trade breakdowns through the programme end on 30 January 2026.

Transaction in Own Shares   

27 November, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 27 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
27/11/2025	722,180	27.6550	27.4100	27.5232	LSE	GBP
27/11/2025	-	-	-	-	Chi-X (CXE)	GBP
27/11/2025	-	-	-	-	BATS (BXE)	GBP
27/11/2025	748,014	31.6300	31.4050	31.5143	XAMS	EUR
27/11/2025	-	-	-	-	CBOE DXE	EUR
27/11/2025	-	-	-	-	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

• 2025.11.27 Shell RNS (with fills)

FAQ

How many Shell (SHEL) shares were repurchased on 27 November 2025?

Shell repurchased and cancelled a total of 1,470,194 shares on 27 November 2025.

What were the VWAPs for Shell (SHEL) share purchases on 27 November 2025?

VWAPs reported were £27.5232 on LSE and €31.5143 on XAMS for purchases on 27 November 2025.

Is Shell's buy-back programme for SHEL still active and what is the execution window?

The buy-back programme is active; execution by Merrill Lynch International runs from 30 Oct 2025 through 30 Jan 2026.

Were the Shell (SHEL) buy-back transactions executed on multiple venues on 27 November 2025?

Yes; purchases on 27 November 2025 were reported on LSE and XAMS, with other listed venues showing no trades that day.

Will the Shell (SHEL) repurchased shares be cancelled or held as treasury?

The announcement states the repurchased shares were purchased for cancellation.

Under which rules was the Shell (SHEL) buy-back conducted on 27 November 2025?

The programme was conducted in accordance with UK MAR and the EU MAR Delegated Regulation as onshored into UK law.