Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on October 31, 2024, as part of its existing buyback programme. The company purchased 840,000 shares on LSEG at prices between £25.1600 and £25.7650, with a volume-weighted average price of £25.4658. Additionally, 625,000 shares were purchased on XAMS at prices between €30.3650 and €30.8650, averaging €30.6160. The programme, managed independently by Citigroup Global Markets , will run 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 (1.465 million shares across exchanges) indicates substantial shareholder return commitment

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows significant capital return commitment, with 840,000 shares purchased on the London Stock Exchange at a volume-weighted average price of £25.4658 and 625,000 shares on Euronext Amsterdam at €30.6160. This strategic repurchase program, extending through January 24, 2025, demonstrates strong cash flow generation and shareholder-friendly capital allocation. The dual-market approach (LSE and Euronext) optimizes liquidity and pricing efficiency. The timing and execution through Citigroup suggests a well-structured program designed to maintain market stability while delivering value to shareholders. The company's ability to sustain substantial buybacks reflects robust operational performance and healthy balance sheet management, particularly notable given the cyclical nature of the energy sector.

Transaction in Own Shares

31 October, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 31 October 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
31/10/2024	840,000	£25.7650	£25.1600	£25.4658	LSE	GBP
31/10/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
31/10/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
31/10/2024	625,000	€30.8650	€30.3650	€30.6160	XAMS	EUR
31/10/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
31/10/2024	-	€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-Oct-24 - complete

FAQ

How many shares did Shell (SHEL) purchase on October 31, 2024?

Shell purchased 840,000 shares on LSEG and 625,000 shares on XAMS, totaling 1,465,000 shares on October 31, 2024.

What was the price range for Shell's (SHEL) share purchases on October 31, 2024?

On LSEG, shares were purchased between £25.1600 and £25.7650, while on XAMS, the price range was €30.3650 to €30.8650.

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

The current share buyback programme will run until January 24, 2025.