Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on November 12, 2024, as part of its buyback programme announced on October 31, 2024. The company purchased 572,000 shares on LSEG at prices between £25.1300 and £25.6000 (VWAP: £25.3235), and 375,000 shares on XAMS at prices between €30.5650 and €31.2350 (VWAP: €30.8892). The programme, managed independently by Citigroup Global Markets , will run until January 24, 2025, following UK Listing Rules and Market Abuse Regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return policy to shareholders
• Significant share repurchase volume indicates robust financial position

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows significant capital return commitment, with 947,000 shares purchased across London and Amsterdam exchanges. The London Stock Exchange purchases averaged £25.32 per share for 572,000 shares, while Amsterdam saw 375,000 shares at €30.89 each.

This buyback execution is part of the program announced on October 31, 2024, demonstrating Shell's continued focus on shareholder returns. The weighted average prices indicate disciplined execution, staying within a tight range that suggests careful price management. The split between London and Amsterdam listings maintains balanced market liquidity.

The timing and volume of these purchases align with Shell's strong cash generation and capital allocation strategy. With current market conditions and energy prices, this buyback pace appears sustainable and should provide steady support for the stock price while reducing share count.

Transaction in Own Shares

12 November, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 12 November 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
12/11/2024	572,000	£25.6000	£25.1300	£25.3235	LSE	GBP
12/11/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
12/11/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
12/11/2024	375,000	€31.2350	€30.5650	€30.8892	XAMS	EUR
12/11/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
12/11/2024	-	€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 31 October 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 31 October 2024 up to and including 24 January 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 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 12-Nov-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on November 12, 2024?

Shell purchased 572,000 shares on LSEG and 375,000 shares on XAMS, totaling 947,000 shares on November 12, 2024.

What was the price range for Shell's (SHEL) share buyback on November 12, 2024?

On LSEG, shares were purchased between £25.13 and £25.60, and on XAMS between €30.57 and €31.24.

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

The current share buyback program will run until January 24, 2025.