Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on December 24, 2024, as part of its ongoing buyback program. The company purchased 1,045,000 shares on the London Stock Exchange at prices between £24.1950 and £24.3700, with a volume-weighted average price of £24.3179. Additionally, 658,000 shares were purchased on XAMS at prices between €29.4550 and €29.6600, with a volume-weighted average price of €29.5978.

These purchases are part of Shell's share buy-back programme announced on October 31, 2024, which will continue until January 24, 2025. Citigroup Global Markets is executing the trades independently within pre-set parameters, in accordance with UK Listing Rules and Market Abuse Regulations.

Positive

• Ongoing share buyback program indicates strong capital return policy to shareholders
• Significant volume of shares purchased (1,045,000 LSE + 658,000 XAMS) demonstrates commitment to the program

Negative

• None.

Insights

Financial Markets Analyst

Shell's latest share buyback activity shows strategic capital deployment, with the purchase of 1,045,000 shares on the London Stock Exchange at a volume-weighted average price of £24.3179 and 658,000 shares on Euronext Amsterdam at €29.5978. This execution aligns with the company's previously announced buyback program from October 31, 2024.

The dual-market approach (LSE and Euronext) demonstrates sophisticated treasury management, taking advantage of liquidity in both major trading venues. The tight price ranges - £24.1950 to £24.3700 in London and €29.4550 to €29.6600 in Amsterdam - suggest well-executed block trades with minimal market impact.

For investors, this represents continued commitment to shareholder returns through capital redistribution. The independent execution by Citigroup Global Markets adds credibility to the process, ensuring compliance with market regulations and optimal pricing. The structured approach with pre-set parameters provides transparency and predictability to the market.

Corporate Finance Expert

This systematic share repurchase represents effective balance sheet management by Shell. The total daily investment of approximately £44.5 million shows significant capital return capacity, reflecting strong cash flow generation. The timing and execution framework, extending to January 24, 2025, indicates careful planning to minimize market impact while maximizing shareholder value.

The regulatory compliance structure, incorporating both EU MAR and UK MAR frameworks post-Brexit, demonstrates sophisticated legal architecture. The dual-listing considerations and careful execution parameters suggest a well-thought-out approach to capital markets operations. The independent execution model through Citigroup adds a layer of governance that institutional investors particularly value.

Transaction in Own Shares

24 December, 2024

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Shell plc (the ‘Company’) announces that on 24 December 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
24/12/2024	1,045,000	£24.3700	£24.1950	£24.3179	LSE	GBP
24/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
24/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
24/12/2024	658,000	€29.6600	€29.4550	€29.5978	XAMS	EUR
24/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
24/12/2024	-	€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 24-Dec-24 - complete

FAQ

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

Shell purchased 1,045,000 shares on the London Stock Exchange and 658,000 shares on XAMS (Amsterdam) on December 24, 2024.

What is the price range of Shell's (SHEL) share buyback on December 24, 2024?

On the London Stock Exchange, shares were purchased between £24.1950 and £24.3700, while on XAMS, the price range was €29.4550 to €29.6600.

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

The current share buyback program, announced on October 31, 2024, will continue until January 24, 2025.

Who is executing Shell's (SHEL) share buyback trades?

Citigroup Global Markets is making trading decisions independently for Shell's share buyback program.