Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has executed significant share repurchases across multiple trading venues on September 5, 2025, as part of its previously announced buyback program. The company purchased a total of 2,398,456 shares across various exchanges including LSE, Chi-X, BATS, XAMS, and CBOE DXE.

The share purchases were conducted at prices ranging from £26.26 to £26.92 on UK venues and €30.41 to €31.21 on European venues. This buyback initiative is part of Shell's program announced on July 31, 2025, which will continue until October 24, 2025, with HSBC Bank plc managing the trades independently.

Positive

• None.

Negative

• Capital expenditure on share buybacks reduces cash available for operational investments

Insights

Financial Analyst

Shell continues its share buyback program, repurchasing 2.4M shares across multiple venues as part of its previously announced capital return strategy.

Shell's latest share repurchase activity represents a meaningful deployment of capital, with the company buying back approximately 2.4 million shares across multiple trading venues on September 5. The company paid between £26.26 and £26.92 per share on the London Stock Exchange, with similar price ranges on other exchanges.

This buyback execution is part of Shell's broader repurchase program announced on July 31, 2025, which is scheduled to run through October 24, 2025. The program includes both on-market and off-market components, with HSBC Bank making independent trading decisions within pre-established parameters.

Share repurchases typically signal management's confidence in the company's intrinsic value and represent a tax-efficient method to return capital to shareholders compared to dividends. By reducing the number of outstanding shares, Shell effectively increases earnings per share and potentially supports share price appreciation, assuming other factors remain constant.

The structured nature of this buyback—with clear timeframes, independent execution, and regulatory compliance frameworks—indicates a disciplined approach to capital allocation. These repurchases suggest Shell is generating sufficient free cash flow to return capital while maintaining operational flexibility, which is particularly notable in the energy sector where capital requirements for both maintenance and growth initiatives can be substantial.

Transaction in Own Shares   

5 September, 2025

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Shell plc (the ‘Company’) announces that on 5 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
05/09/2025	677,502	£26.9200	£26.2600	£26.5329	LSE	GBP
05/09/2025	172,529	£26.9200	£26.4100	£26.7040	Chi-X (CXE)	GBP
05/09/2025	398,676	£26.9200	£26.2650	£26.5063	BATS (BXE)	GBP
05/09/2025	801,058	€31.2050	€30.4050	€30.7289	XAMS	EUR
05/09/2025	348,691	€31.2100	€30.4750	€30.8728	CBOE DXE	EUR
05/09/2025	-	-	-	-	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) 20250905

FAQ

How many shares did Shell (SHEL) purchase on September 5, 2025?

Shell purchased a total of 2,398,456 shares across multiple trading venues including LSE (677,502), Chi-X (172,529), BATS (398,676), XAMS (801,058), and CBOE DXE (348,691).

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 price range for Shell's share purchases on September 5, 2025?

On UK venues, shares were purchased between £26.26 to £26.92, while on European venues, the price range was €30.41 to €31.21.

Who manages Shell's share buyback program?

HSBC Bank plc manages the trading decisions independently of Shell for the duration of the buyback program.

What regulatory frameworks govern Shell's buyback program?

The program is conducted under UK Listing Rules Chapter 9, EU MAR, UK MAR, and the Commission Delegated Regulation (EU) 2016/1052, including post-Brexit adaptations.