Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on December 2, 2024, as part of its previously announced buyback programme. The company purchased 1,261,900 shares on LSEG at prices between £25.0400 and £25.3400 (VWAP £25.1912), and 836,000 shares on XAMS at prices between €30.4650 and €30.8350 (VWAP €30.6617). The purchases are part of a programme announced on October 31, 2024, managed independently by Citigroup Global Markets 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 volume of shares purchased (2,097,900 total) indicates substantial commitment to the buyback program

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity demonstrates continued execution of their capital return strategy announced on October 31. Today's purchases totaled £31.7 million (1,261,900 shares at LSE) and €25.6 million (836,000 shares at AMS), showing significant daily volume. The weighted average purchase prices of £25.19 and €30.66 reflect current market conditions and suggest disciplined execution within pre-set parameters.

This buyback program, running until January 24, 2025, reinforces Shell's commitment to shareholder returns. The dual-market approach (London and Amsterdam) helps maintain liquidity while potentially benefiting from any price disparities. The structured nature of the program, with Citigroup making independent trading decisions, promotes market efficiency and regulatory compliance.

Transaction in Own Shares

02 December, 2024

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Shell plc (the ‘Company’) announces that on 02 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
02/12/2024	1,261,900	£25.3400	£25.0400	£25.1912	LSE	GBP
02/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
02/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
02/12/2024	836,000	€30.8350	€30.4650	€30.6617	XAMS	EUR
02/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
02/12/2024	-	€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 02-Dec-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on December 2, 2024?

Shell purchased a total of 2,097,900 shares on December 2, 2024, comprising 1,261,900 shares on LSEG and 836,000 shares on XAMS.

What was the price range for Shell's (SHEL) share buyback on December 2, 2024?

On LSEG, shares were purchased between £25.0400 and £25.3400, while on XAMS, the price range was €30.4650 to €30.8350.

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

The current share buyback program, managed by Citigroup Global Markets , will run until January 24, 2025.