Transaction in Own Shares

Rhea-AI Summary

Shell plc (NYSE:SHEL) has executed significant share repurchases across multiple trading venues on September 26, 2025, as part of its previously announced buyback programme. The company purchased a total of 499,035 shares on the London exchanges at prices ranging from £27.0850 to £27.3900, and 449,381 shares on European exchanges at prices between €31.1100 and €31.5200.

The share buyback programme, announced on July 31, 2025, is being executed by HSBC Bank plc independently through October 24, 2025. The programme includes both on-market and off-market components, operating under UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Strategic share buyback demonstrates confidence in company's financial position
• Multi-exchange execution strategy optimizes share repurchase efficiency
• Program helps improve shareholder value through reduction of outstanding shares

Negative

• Significant cash outflow for share repurchases could impact available capital for other investments
• Complex regulatory framework across UK and EU markets may increase operational complexity

Insights

Financial Analyst

Shell continues its share buyback program, repurchasing 948,416 shares across various exchanges as part of its previously announced capital return strategy.

Shell has continued executing its share buyback program by repurchasing a total of 948,416 shares across multiple trading venues on September 26, 2025. On the London Stock Exchange and related platforms, the company bought back 499,035 shares at prices ranging from £27.09 to £27.39, with volume-weighted average prices around £27.25. On European exchanges, Shell acquired 449,381 shares at prices between €31.11 and €31.52, with average prices near €31.34.

This buyback activity is part of Shell's previously announced program from July 31, 2025, which continues through October 24, 2025. The repurchase structure includes both on-market and off-market components, with HSBC Bank making independent trading decisions within pre-established parameters.

Share buybacks typically signal management's confidence in the company's financial position and future prospects. By reducing the number of outstanding shares, Shell can potentially increase earnings per share and return value to shareholders. These repurchases demonstrate Shell's commitment to its capital return strategy, leveraging its strong cash position to benefit shareholders through direct capital returns rather than solely through dividends.

The buyback is being conducted in accordance with UK Listing Rules and relevant market abuse regulations, with proper disclosures of individual trades as required by regulatory frameworks. This transparent approach to capital allocation provides investors with clear visibility into how Shell is deploying its financial resources.

Transaction in Own Shares   

26 September, 2025

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Shell plc (the ‘Company’) announces that on 26 September, 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
26/09/2025	213,917	£27.3900	£27.0850	£27.2459	LSE	GBP
26/09/2025	147,145	£27.3850	£27.0850	£27.2493	Chi-X (CXE)	GBP
26/09/2025	137,973	£27.3900	£27.0850	£27.2584	BATS (BXE)	GBP
26/09/2025	289,012	€31.5200	€31.1100	€31.3373	XAMS	EUR
26/09/2025	160,369	€31.5200	€31.1100	€31.3475	CBOE DXE	EUR
26/09/2025	-	-	-	-	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 July 2025.

In respect of this programme, HSBC Bank plc will make trading decisions in relation to the securities independently of the Company for a period from 31 July 2025 up to and including 24 October 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 HSBC Bank plc 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

• Shell RNS (Extended) 20250926

FAQ

How many shares did Shell (SHEL) purchase on September 26, 2025?

Shell purchased 499,035 shares across London exchanges (LSE, Chi-X, and BATS) and 449,381 shares on European exchanges (XAMS and CBOE DXE) on September 26, 2025.

What is the duration of Shell's current share buyback programme?

The current buyback programme runs from July 31, 2025, through October 24, 2025, with HSBC Bank plc making independent trading decisions.

What was the price range for Shell's share purchases on September 26, 2025?

On London exchanges, shares were purchased between £27.0850 and £27.3900, while on European exchanges, the price range was €31.1100 to €31.5200.

Who executes Shell's share buyback programme?

HSBC Bank plc executes the programme independently of Shell, making trading decisions within pre-set parameters.

What regulations govern Shell's share buyback programme?

The programme is governed by UK Listing Rules, EU MAR (Market Abuse Regulation), UK MAR, and the EU MAR Delegated Regulation, including post-Brexit adaptations.