Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on December 31, 2024, as part of its existing buyback programme announced on October 31, 2024. The company purchased 830,000 shares on the London Stock Exchange at prices ranging from £24.4300 to £24.8450, with a volume-weighted average price of £24.6844. Additionally, 530,000 shares were purchased on XAMS at prices between €29.7550 and €30.1900, averaging €30.0543.

The buyback program, managed independently by Citigroup Global Markets , will continue until January 24, 2025. The purchases are being executed through both on-market and off-market mechanisms, in compliance 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 the buyback program

Negative

• None.

Insights

Financial Markets Analyst

Shell's latest share buyback activity demonstrates robust capital return commitment, with 830,000 shares purchased on the London Stock Exchange at prices between £24.43 and £24.85, plus 530,000 shares on Euronext Amsterdam ranging from €29.76 to €30.19. This strategic repurchase, part of the program announced in October 2024, reflects strong cash flow generation and shareholder-friendly capital allocation.

The execution through Citigroup, operating independently within pre-set parameters until January 24, 2025, ensures market compliance and optimal pricing. The weighted average purchase prices of £24.68 and €30.05 indicate disciplined execution, maintaining value while reducing share count. This continued buyback activity supports earnings per share accretion and demonstrates management's confidence in Shell's underlying business strength and cash generation capabilities.

Corporate Finance Expert

Today's buyback represents approximately $34.5 million in capital return, calculated using current exchange rates. The dual-listing structure buyback across LSE and Euronext Amsterdam maintains balanced market liquidity. The timing and execution strategy, delegated to Citigroup, helps minimize market impact while maximizing shareholder value through systematic share reduction.

With Shell's substantial market cap of $188 billion, this buyback represents careful capital deployment that balances shareholder returns with maintaining strategic flexibility. The program's structure, complying with both UK and EU regulations post-Brexit, showcases sophisticated treasury management and regulatory adaptation. The consistent buyback execution signals strong free cash flow generation and management's positive outlook on company valuation.

Transaction in Own Shares

31 December, 2024

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Shell plc (the ‘Company’) announces that on 31 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
31/12/2024	830,000	£24.8450	£24.4300	£24.6844	LSE	GBP
31/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
31/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
31/12/2024	530,000	€30.1900	€29.7550	€30.0543	XAMS	EUR
31/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
31/12/2024	-	€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 31-Dec-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on December 31, 2024?

Shell repurchased 830,000 shares on the London Stock Exchange and 530,000 shares on XAMS (Amsterdam) on December 31, 2024.

What is the price range of Shell's (SHEL) share buyback on December 31, 2024?

On the London Stock Exchange, shares were purchased between £24.4300 and £24.8450, while on XAMS, the price range was €29.7550 to €30.1900.

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

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

When did Shell (SHEL) announce this buyback program?

Shell announced this share buyback program on October 31, 2024.