Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has executed another round of share buybacks on July 23, 2025, as part of its previously announced share repurchase program. The company purchased a total of 842,000 shares across LSE, Chi-X, and BATS in GBP transactions, and 778,000 shares across XAMS, CBOE DXE, and TQEX in EUR transactions.

The buyback program, managed independently by BNP PARIBAS SA, operates from May 2, 2025, through July 25, 2025. Share prices ranged from £26.32 to £26.55 on LSE, with similar ranges on other UK venues, while European venue prices ranged from €30.44 to €30.81. The program includes both on-market and off-market purchases, conducted under UK and EU regulatory frameworks.

Positive

• None.

Negative

• Capital expenditure on buybacks reduces cash available for operational investments

Insights

Financial Markets Specialist

Shell continues executing its previously announced share buyback program, repurchasing over 1.6 million shares across multiple venues.

Shell plc has purchased approximately 1.62 million shares for cancellation on July 23, 2025, as part of its ongoing share buyback program announced on May 2, 2025. The company acquired 842,000 shares on London-based venues at prices between £26.33 and £26.55, with a volume-weighted average price of about £26.47. Additionally, Shell purchased 778,000 shares on European exchanges at prices ranging from €30.44 to €30.81.

This repurchase activity is significant as it's part of the final days of the current buyback phase scheduled to conclude on July 25, 2025. The program involves both on-market and off-market purchases managed independently by BNP PARIBAS SA. Share buybacks typically support stock price by reducing the number of outstanding shares, thereby increasing earnings per share and return on equity metrics.

The systematic nature of this buyback demonstrates Shell's continued commitment to returning capital to shareholders. For context, when companies repurchase their own shares, they essentially redistribute excess cash to shareholders in a tax-efficient manner while simultaneously expressing confidence in their valuation. The detailed disclosure of trading venues, prices, and regulatory compliance reflects transparency in capital allocation decisions that investors generally view positively.

Transaction in Own Shares

23 July, 2025

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Shell plc (the ‘Company’) announces that on 23 July, 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
23/07/2025	644,581	£26.5500	£26.3250	£26.4670	LSE	GBP
23/07/2025	121,396	£26.5500	£26.3250	£26.4685	Chi-X (CXE)	GBP
23/07/2025	76,023	£26.5500	£26.3250	£26.4709	BATS (BXE)	GBP
23/07/2025	479,638	€30.7950	€30.4400	€30.6854	XAMS	EUR
23/07/2025	260,006	€30.8100	€30.5300	€30.6965	CBOE DXE	EUR
23/07/2025	38,356	€30.7500	€30.5400	€30.6428	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 2 May 2025.

In respect of this programme, BNP PARIBAS SA will make trading decisions in relation to the securities independently of the Company for a period from 2 May 2025 up to and including 25 July 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 BNP PARIBAS SA 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

• RNS Report SHELL 2025 07 23

FAQ

How many shares did Shell (SHEL) purchase on July 23, 2025?

Shell purchased approximately 1.62 million shares in total, with 842,000 shares in GBP transactions (LSE, Chi-X, BATS) and 778,000 shares in EUR transactions (XAMS, CBOE DXE, TQEX).

What was the price range for Shell's share buybacks on July 23, 2025?

On the LSE and UK venues, shares were purchased between £26.32 and £26.55. On European venues, prices ranged from €30.44 to €30.81.

When will Shell's current share buyback program end?

The current share buyback program, managed by BNP PARIBAS SA, will run until July 25, 2025.

Who manages Shell's share buyback program?

BNP PARIBAS SA independently manages the trading decisions for Shell's buyback program from May 2, 2025, to July 25, 2025.

What regulatory frameworks govern Shell's share buyback program?

The program is conducted under UK Listing Rules Chapter 9, EU MAR Article 5, UK MAR, and related delegated regulations, including post-Brexit provisions.