Transaction in Own Shares

Rhea-AI Summary

On June 13, 2024, Shell announced the repurchase of 3,445,000 shares as part of its ongoing share buy-back program. This transaction included both on-market and off-market purchases across multiple trading venues like LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX. The share prices ranged from £27.2000 to £27.5350 for GBP-denominated shares and €32.3350 to €32.6800 for EUR-denominated shares. BNP PARIBAS Financial Markets SNC independently managed the buy-back process under existing legal frameworks. This initiative aligns with Shell's goal to manage share capital efficiently.

Positive

• Repurchase of 3,445,000 shares signals confidence in the company's financial health.
• Share prices ranged from £27.2000 to £27.5350 and €32.3350 to €32.6800, indicating strong investor demand.
• The buy-back program is executed under stringent legal and regulatory frameworks, ensuring compliance.
• The involvement of BNP PARIBAS Financial Markets SNC adds a layer of independent decision-making to the buy-back process.

Negative

• The buy-back could signify a lack of profitable investment opportunities within the company.
• High volume of share repurchases may lead to reduced liquidity in the market.
• Repurchasing shares at relatively high prices (£27.5350 and €32.6800) might not be the most cost-efficient use of capital.

Transaction in Own Shares

13 June, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 13 June, 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
13/06/2024	1,369,759	£27.5350	£27.2000	£27.3243	LSE	GBP
13/06/2024	191,046	£27.5350	£27.2300	£27.3774	Chi-X (CXE)	GBP
13/06/2024	139,195	£27.5200	£27.2300	£27.3905	BATS (BXE)	GBP
13/06/2024	1,270,000	€32.6800	€32.3350	€32.4785	XAMS	EUR
13/06/2024	400,000	€32.6700	€32.3450	€32.4903	CBOE DXE	EUR
13/06/2024	75,000	€32.6500	€32.3600	€32.5522	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 2 May 2024.

In respect of this programme, BNP PARIBAS Financial Markets SNC will make trading decisions in relation to the securities independently of the Company for a period from 2 May 2024 up to and including 26 July 2024.

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 12 of the 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 BNP PARIBAS Financial Markets SNC 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 Report SHELL 2024 06 13

FAQ

What shares did Shell repurchase on June 13, 2024?

Shell repurchased 3,445,000 shares across multiple trading venues, including LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX.

What was the highest price Shell paid for its shares on June 13, 2024?

The highest price Shell paid was £27.5350 for GBP-denominated shares and €32.6800 for EUR-denominated shares.

What trading venues were involved in Shell's share repurchase on June 13, 2024?

The trading venues involved were LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX.

Who managed Shell's share buy-back program on June 13, 2024?

BNP PARIBAS Financial Markets SNC managed the buy-back program independently of Shell.

What regulations govern Shell's share buy-back program?

Shell's buy-back program is governed by Chapter 12 of the Listing Rules, EU MAR, and UK MAR, ensuring legal compliance.