Transaction in Own Shares

Rhea-AI Summary

Shell plc announced on 24 September 2024 that it purchased 650,000 shares on the London Stock Exchange at a volume-weighted average price of £25.7944 per share, and 850,000 shares on Euronext Amsterdam at a volume-weighted average price of €31.2302 per share. These purchases are part of the company's existing share buy-back programme announced on 1 August 2024.

The programme includes both on-market and off-market limbs, with Citigroup Global Markets making independent trading decisions from 1 August 2024 to 25 October 2024. The buy-back is conducted in accordance with Chapter 12 of the Listing Rules, Article 5 of the Market Abuse Regulation, and related EU and UK regulations.

Positive

• Shell is actively managing its capital structure through share repurchases
• The company is executing its previously announced share buy-back programme

Negative

• Significant cash outflow for share repurchases may impact available funds for other investments or operations

Insights

Financial Analyst

Shell plc's share buyback program continues with the purchase of 650,000 shares on the London Stock Exchange and 850,000 shares on Euronext Amsterdam. The average price paid was £25.7944 and €31.2302 respectively. This is part of the company's previously announced buyback program, which runs from August 1 to October 25, 2024.

Share buybacks can be seen as a positive signal, indicating that the company believes its stock is undervalued and has excess cash to return to shareholders. However, the impact on Shell's stock price is likely to be minimal in the short term due to the relatively small volume compared to the company's market cap of $212.8 billion.

Investors should note that while buybacks can boost earnings per share and potentially the stock price, they also reduce the company's cash reserves. For an oil major like Shell, maintaining a strong balance sheet is important for weathering market volatility and funding future projects. The continuation of this program suggests Shell's management is confident in the company's financial position and future cash flows.

Transaction in Own Shares

24 September, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 24 September 2024 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
24/09/2024	650,000	£25.9550	£25.7050	£25.7944	LSE	GBP
24/09/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
24/09/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
24/09/2024	850,000	€31.3750	€31.1050	€31.2302	XAMS	EUR
24/09/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
24/09/2024	-	€0.0000	€0.0000	€0.0000	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 1 August 2024.

In respect of this programme, Citigroup Global Markets Limited will make trading decisions in relation to the securities independently of the Company for a period from 1 August 2024 up to and including 25 October 2024.

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 12 of the 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 Citigroup Global Markets Limited on behalf of the Company as a part of the buy-back programme is detailed below.

Enquiries

Media International: +44 (0) 207 934 5550

Media Americas: +1 832 337 4335

LEI number of Shell plc: 21380068P1DRHMJ8KU70

Classification: Acquisition or disposal of the issuer’s own shares

Attachment

• RNS Template 24-Sep-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on 24 September 2024?

Shell plc (SHEL) repurchased a total of 1,500,000 shares on 24 September 2024, consisting of 650,000 shares on the London Stock Exchange and 850,000 shares on Euronext Amsterdam.

What was the price range for Shell's (SHEL) share repurchases on 24 September 2024?

On the London Stock Exchange, Shell (SHEL) repurchased shares between £25.7050 and £25.9550. On Euronext Amsterdam, the price range was €31.1050 to €31.3750.

When did Shell (SHEL) announce its current share buy-back programme?

Shell plc (SHEL) announced its current share buy-back programme on 1 August 2024.

Who is making trading decisions for Shell's (SHEL) share repurchases?

Citigroup Global Markets is making independent trading decisions for Shell's (SHEL) share repurchases from 1 August 2024 to 25 October 2024.