Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) purchased shares for cancellation on 07 November 2025 as part of its existing buy-back programme announced on 30 October 2025. Aggregated purchases reported by venue: 735,614 shares on LSE at a VWAP of GBP 28.4298, and 731,526 shares on XAMS at a VWAP of EUR 32.3488. Total shares bought for cancellation on that date: 1,467,140.

The programme is active from 30 October 2025 to 30 January 2026, with Merrill Lynch International making independent trading decisions and purchases executed under on-market and off-market authorities in line with UK MAR and EU MAR onshored rules.

Positive

• Total shares purchased for cancellation: 1,467,140
• LSE VWAP reported at GBP 28.4298
• XAMS VWAP reported at EUR 32.3488
• Buy-back programme runs through 30 January 2026

Negative

• None.

Insights

Equity Capital Markets Analyst

Routine on-market and off-market buyback executed; limited immediate informational change.

The Company executed purchases for cancellation totalling 1,467,140 shares across venues, including £28.4298 VWAP on LSE for 735,614 shares and €32.3488 VWAP on XAMS for 731,526 shares on 07/11/2025. The trades sit inside an existing buy-back programme running from 30/10/2025 to 30/01/2026, with Merrill Lynch International trading independently under preset parameters.

The business mechanism is straightforward: the company is reducing share count via on- and off-market purchases under authorised authorities, which can marginally increase per-share metrics by lowering share base. Key dependencies and risks include the remaining programme size and timing, adherence to UK MAR/EU MAR rules, and that trading is executed by an independent broker within preset limits, which constrains market impact. Monitor the cumulative shares cancelled against the announced programme envelope and any subsequent daily RNS entries through 30/01/2026 for material changes to pace or scope; absent new financial figures, this announcement is operational rather than a substantive change to underlying fundamentals.

Transaction in Own Shares   

07 November, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 07 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
07/11/2025	735,614	28.5850	28.2250	28.4298	LSE	GBP
07/11/2025	-	-	-	-	Chi-X (CXE)	GBP
07/11/2025	-	-	-	-	BATS (BXE)	GBP
07/11/2025	731,526	32.5550	32.1000	32.3488	XAMS	EUR
07/11/2025	-	-	-	-	CBOE DXE	EUR
07/11/2025	-	-	-	-	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

• 2025.11.07 Shell RNS (with fills)

FAQ

How many Shell (SHEL) shares were purchased on 07 November 2025?

1,467,140 shares were purchased for cancellation on 07 November 2025 (735,614 LSE; 731,526 XAMS).

What were the VWAPs for Shell (SHEL) buybacks on 07 November 2025?

The reported VWAPs were GBP 28.4298 on LSE and EUR 32.3488 on XAMS.

When does Shell's (SHEL) current buy-back programme end?

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

Who is executing Shell's (SHEL) buy-back trades?

Merrill Lynch International is making trading decisions independently on behalf of Shell for the programme period.

Were Shell (SHEL) buy-back trades executed across multiple venues on 07 November 2025?

Yes; purchases were reported on LSE and XAMS, with no fills reported on Chi-X, BATS, CBOE DXE, or TQEX for that date.

Are Shell's (SHEL) buy-backs being conducted under regulatory rules?

Yes; the programme is being conducted in accordance with UK MAR and the onshored EU MAR requirements and Chapter 9 of the UK Listing Rules.