Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced a significant share buyback transaction conducted on May 15, 2025. The company purchased a total of 1,125,000 shares across LSE, Chi-X, and BATS venues in GBP, with prices ranging from £24.3950 to £24.7700. Additionally, 1,088,000 shares were purchased across XAMS, CBOE DXE, and TQEX venues in EUR, with prices ranging from €29.0900 to €29.6050. These purchases are part of Shell's share buyback programme announced on May 2, 2025, which will run until July 25, 2025. BNP PARIBAS SA is managing the trading decisions independently, with the programme conducted in accordance with UK Listing Rules and Market Abuse Regulations.

Positive

• Continued execution of share buyback program demonstrates strong capital return commitment to shareholders
• Multiple trading venues and currencies show broad market coverage and liquidity
• Independent management by BNP PARIBAS SA ensures transparent and compliant execution

Negative

• Share repurchases reduce company's cash reserves
• Capital spent on buybacks could limit funds available for operational growth or investments

Insights

Financial Analyst

Shell continues its share buyback program, repurchasing 2.2 million shares worth ~£54.4M, supporting shareholder value through capital return.

Shell's latest share buyback execution represents another step in their capital return strategy announced on May 2, 2025. The company purchased approximately 2.2 million shares across multiple venues, with price ranges of £24.39-£24.77 in UK markets and €29.09-€29.60 in European markets.

The volume-weighted average purchase prices of £24.60 (LSE) and €29.39 (XAMS) indicate disciplined execution within a relatively tight price band. This systematic approach to capital deployment demonstrates management's confidence in the company's financial position and commitment to returning value to shareholders.

These repurchases are part of a structured buyback program running until July 25, 2025, executed by BNP PARIBAS SA as an independent trading agent. This arrangement ensures regulatory compliance while maintaining a consistent repurchase rhythm.

The total outlay for the day's purchases amounts to approximately £54.4 million (combining UK venue purchases) plus approximately €31.9 million (combining European venue purchases). By reducing share count through cancellation, Shell is effectively increasing each remaining shareholder's ownership percentage in the company, which typically supports earnings per share metrics assuming stable or growing profits.

This continuation of Shell's buyback activities aligns with the broader trend among major energy companies using strong cash flows to reward shareholders through systematic capital returns rather than solely pursuing production growth - a strategy that has gained favor with investors seeking reliable income from the sector.

Transaction in Own Shares

15 May, 2025

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Shell plc (the ‘Company’) announces that on 15 May, 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
15/05/2025	775,325	£24.7700	£24.3950	£24.6030	LSE	GBP
15/05/2025	233,104	£24.7700	£24.4000	£24.6055	Chi-X (CXE)	GBP
15/05/2025	116,571	£24.7700	£24.4000	£24.6221	BATS (BXE)	GBP
15/05/2025	703,629	€29.6050	€29.0900	€29.3938	XAMS	EUR
15/05/2025	319,569	€29.6050	€29.0900	€29.3807	CBOE DXE	EUR
15/05/2025	64,802	€29.5250	€29.1000	€29.3554	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 05 15

FAQ

How many shares did Shell (SHEL) purchase on May 15, 2025?

Shell purchased a total of 2,213,000 shares across all venues: 1,125,000 shares in GBP (LSE, Chi-X, BATS) and 1,088,000 shares in EUR (XAMS, CBOE DXE, TQEX).

What is the price range for Shell's share buyback on May 15, 2025?

In GBP, shares were purchased between £24.3950 and £24.7700. In EUR, shares were purchased between €29.0900 and €29.6050.

When does Shell's (SHEL) current share buyback program end?

The current share buyback program runs from May 2, 2025, until July 25, 2025.

Who manages Shell's share buyback program?

BNP PARIBAS SA manages the trading decisions independently of Shell for this buyback program.

On which exchanges did Shell (SHEL) purchase shares on May 15, 2025?

Shell purchased shares on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE, and TQEX exchanges.