Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on February 12, 2025, as part of its buyback programme announced on January 30, 2025. The company purchased:

- 1,007,192 shares on London venues (LSE, Chi-X, BATS) at prices between £26.74 and £27.045

- 674,719 shares on European venues (XAMS, CBOE DXE) at prices between €32.29 and €32.615

The buyback program, managed independently by Natixis, will run until April 25, 2025, operating through both on-market and off-market mechanisms. The purchases comply with UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Significant daily purchase volume indicates robust execution of buyback strategy

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback execution reveals a sophisticated multi-venue approach to capital return, with approximately 1.68 million shares purchased across five major exchanges. The volume-weighted average prices of £26.89 on UK venues and €32.44 on European exchanges reflect careful execution to minimize market impact while maximizing shareholder value.

The strategic distribution of purchases - with the LSE accounting for roughly 48% of the total volume - demonstrates Shell's nuanced approach to maintaining market liquidity across venues. This careful balancing act helps prevent artificial price inflation while executing the buyback program.

The execution through Natixis, operating independently within pre-set parameters, aligns with best practices in corporate governance and regulatory compliance, particularly under both UK and EU market abuse regulations. This structure provides a robust framework for systematic capital return while maintaining market integrity.

This buyback represents a continuation of Shell's disciplined capital allocation strategy, reflecting strong free cash flow generation typical of integrated energy majors in the current market environment. The company's ability to sustain buybacks while maintaining investment in energy transition initiatives underscores its financial flexibility and balanced approach to stakeholder returns.

Transaction in Own Shares

12 February, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 12 February 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
12/02/2025	807,192	£ 27.0450	£ 26.7400	£ 26.8942	LSE	GBP
12/02/2025	100,000	£ 27.0400	£ 26.7600	£ 26.8910	Chi-X (CXE)	GBP
12/02/2025	100,000	£ 27.0350	£ 26.7550	£ 26.8913	BATS (BXE)	GBP
12/02/2025	574,719	€ 32.6150	€ 32.2900	€ 32.4458	XAMS	EUR
12/02/2025	100,000	€ 32.6150	€ 32.3350	€ 32.4467	CBOE DXE	EUR
12/02/2025	0	-	-	-	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 30 January 2025.

In respect of this programme, Natixis will make trading decisions in relation to the securities independently of the Company for a period from 30 January 2025 up to and including 25 April 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 Natixis 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

• Shell plc Share Buyback RNS_02.12.2025

FAQ

How many shares did Shell (SHEL) repurchase on February 12, 2025?

Shell repurchased a total of 1,681,911 shares across various trading venues, including 1,007,192 shares in GBP and 674,719 shares in EUR.

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

The current share buyback programme runs from January 30, 2025, to April 25, 2025.

What was the price range for Shell's (SHEL) share purchases on February 12, 2025?

On London venues, shares were purchased between £26.74 and £27.045, while on European venues, the price range was €32.29 to €32.615.

Who manages Shell's (SHEL) share buyback programme?

Natixis manages the trading decisions independently of Shell for the duration of the buyback programme.

What regulations govern Shell's (SHEL) share buyback programme?

The programme is conducted in accordance with UK Listing Rules, EU MAR, UK MAR, and the EU MAR Delegated Regulation.