Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has announced a significant share buyback transaction conducted on September 3, 2025. The company purchased a total of 2,697,118 shares across multiple trading venues, including LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX.

The share purchases are part of Shell's existing buyback programme announced on July 31, 2025, which will continue until October 24, 2025. HSBC Bank plc is executing the trades independently, with the program including both on-market and off-market components. The highest price paid was £27.5650 on LSE and the lowest was £26.9200.

Positive

• Continued execution of share buyback program demonstrates strong capital return commitment to shareholders
• Multi-venue purchase strategy suggests efficient execution of the buyback program
• Independent execution by HSBC Bank ensures market compliance and transparency

Negative

• None.

Insights

Financial Analyst

Shell continues its share buyback program, purchasing 2.7M shares across various venues, part of its previously announced capital return strategy.

Shell's latest share buyback transaction represents a strategic capital allocation decision that directly impacts shareholder value. The company purchased approximately 1.4 million shares on London exchanges at prices between £26.92 and £27.57, with additional purchases of about 1.3 million shares on European exchanges at prices between €31.14 and €31.85.

This transaction is part of Shell's ongoing buyback program announced on July 31, 2025, which will continue through October 24, 2025. By reducing the number of outstanding shares, Shell effectively increases the ownership stake of remaining shareholders without triggering taxable events for them. The program's execution is being independently managed by HSBC Bank within pre-established parameters.

Share repurchases like this typically signal management's confidence in the company's financial position and often reflect a belief that shares represent good value at current prices. For Shell specifically, this continuation of buybacks suggests steady cash flow generation despite the inherently volatile energy market.

The buyback is being conducted through both on-market and off-market mechanisms, demonstrating a sophisticated approach to capital return that complies with UK Listing Rules and Market Abuse Regulations. This structured approach to shareholder returns complements Shell's dividend program and represents a significant component of its overall capital allocation framework.

Transaction in Own Shares   

3 September, 2025

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Shell plc (the ‘Company’) announces that on 3 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
03/09/2025	743,266	£27.5650	£26.9200	£27.1850	LSE	GBP
03/09/2025	173,938	£27.5650	£27.2050	£27.3540	Chi-X (CXE)	GBP
03/09/2025	481,131	£27.5650	£26.9200	£27.1438	BATS (BXE)	GBP
03/09/2025	923,647	€31.8450	€31.1350	€31.4194	XAMS	EUR
03/09/2025	374,678	€31.8450	€31.1650	€31.5326	CBOE DXE	EUR
03/09/2025	458	€31.1650	€31.1650	€31.1650	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) 20250903

FAQ

How many shares did Shell (SHEL) purchase on September 3, 2025?

Shell purchased a total of 2,697,118 shares across various trading venues including LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX.

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

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

What was the highest price Shell paid per share in the buyback?

The highest price paid was £27.5650 on the LSE, Chi-X, and BATS trading venues.

How is Shell's share buyback program being executed?

The program is being executed through both on-market and off-market components, with HSBC Bank plc making independent trading decisions within pre-set parameters and in accordance with regulatory requirements.

What trading venues did Shell use for the share buyback?

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