Transaction in Own Shares

Rhea-AI Summary

On May 13, 2025, Shell plc (SHEL) announced share repurchases across multiple trading venues as part of its ongoing buyback program. The company purchased: - 848,000 shares on London venues (LSE, Chi-X, BATS) at prices between £24.81 and £25.24 - 804,000 shares on European venues (XAMS, CBOE DXE, TQEX) at prices between €29.69 and €30.15 The purchases are part of Shell's buyback programme announced on May 2, 2025, which will run until July 25, 2025. BNP PARIBAS SA is executing the trades independently within pre-set parameters, including both on-market and off-market transactions.

Positive

• Continued execution of share buyback program demonstrates strong capital return commitment to shareholders
• Multi-venue purchase strategy ensures efficient price execution and market liquidity
• Independent execution by BNP Paribas ensures transparent and compliant implementation

Negative

• Share repurchases reduce company's cash reserves available for operations and investments

Insights

Financial Analyst

Shell continues executing its previously announced share buyback program, repurchasing over 1.65 million shares across multiple trading venues.

Shell's latest share repurchase activity shows continued execution of their buyback program announced on May 2, 2025. The company purchased approximately 848,000 shares in GBP and 804,000 shares in EUR across multiple trading venues, with average prices of £25.03 and €29.93 respectively.

The buyback represents Shell's ongoing commitment to return capital to shareholders, which typically signals management's confidence in the company's financial health and potentially indicates they view their shares as undervalued. By reducing the number of outstanding shares, this action can improve earnings per share metrics even without underlying business growth.

This repurchase is part of a pre-established program set to run through July 25, 2025, with BNP PARIBAS making independent trading decisions within predetermined parameters. The structured nature of the program with regulatory oversight (UK Listing Rules, Market Abuse Regulation) demonstrates Shell's disciplined approach to capital allocation.

For investors, share buybacks typically provide share price support and can be viewed as a tax-efficient alternative to dividends. While the daily volume reported here is relatively small compared to Shell's total market capitalization, the cumulative impact of the ongoing program will gradually increase the ownership stake of remaining shareholders.

Transaction in Own Shares

13 May, 2025

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Shell plc (the ‘Company’) announces that on 13 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
13/05/2025	632,622	£25.2400	£24.8100	£25.0313	LSE	GBP
13/05/2025	136,868	£25.2350	£24.8700	£25.0297	Chi-X (CXE)	GBP
13/05/2025	78,510	£25.2350	£24.8700	£25.0440	BATS (BXE)	GBP
13/05/2025	532,520	€30.1450	€29.6900	€29.9406	XAMS	EUR
13/05/2025	203,308	€30.1450	€29.6900	€29.9416	CBOE DXE	EUR
13/05/2025	68,172	€30.0600	€29.8000	€29.9153	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 13

FAQ

How many shares did Shell (SHEL) repurchase on May 13, 2025?

Shell purchased approximately 1.65 million shares across multiple venues, including 848,000 shares on London venues (LSE, Chi-X, BATS) and 804,000 shares on European venues (XAMS, CBOE DXE, TQEX).

What is the price range for Shell's share buyback on May 13, 2025?

On London venues, shares were purchased between £24.81 and £25.24, while on European venues, the price range was €29.69 to €30.15.

How long will Shell's current share buyback program run?

The current buyback program runs from May 2, 2025, to July 25, 2025, with BNP PARIBAS SA making independent trading decisions.

Who executes Shell's share buyback trades?

BNP PARIBAS SA executes the trades independently of Shell within pre-set parameters for both on-market and off-market transactions.