Transaction in Own Shares

Rhea-AI Summary

Shell plc announced share repurchases conducted on December 30, 2024, as part of its ongoing buyback programme. The company purchased 925,000 shares on LSEG at prices between £24.2850 and £24.4900 (VWAP: £24.4145), and 567,000 shares on XAMS at prices between €29.5800 and €29.8250 (VWAP: €29.7394).

These purchases are part of Shell's share buy-back programme announced on October 31, 2024. Citigroup Global Markets is managing the trading decisions independently until January 24, 2025, operating within pre-set parameters for both on-market and off-market transactions.

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 substantial capital deployment, with the purchase of 925,000 shares on the London Stock Exchange at a VWAP of £24.4145 and 567,000 shares on Euronext Amsterdam at €29.7394. This strategic move, part of the program announced on October 31, 2024, represents roughly £22.6 million in GBP purchases and €16.9 million in EUR purchases.

The execution through Citigroup Global Markets until January 24, 2025, ensures compliance with regulatory frameworks while maintaining market integrity. The dual-market approach (LSE and Euronext) optimizes liquidity access and potentially reduces market impact. The price ranges - £24.29 to £24.49 in London and €29.58 to €29.83 in Amsterdam - indicate disciplined execution within tight spreads, suggesting effective price discovery and minimal market disruption.

For retail investors, buybacks typically signal management's confidence in the company's valuation and cash flow generation capacity. The structured nature of this program, with predefined parameters and independent execution, helps maintain market stability while potentially supporting share price through reduced float and increased EPS.

Transaction in Own Shares

30 December, 2024

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Shell plc (the ‘Company’) announces that on 30 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
30/12/2024	925,000	£24.4900	£24.2850	£24.4145	LSE	GBP
30/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
30/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
30/12/2024	567,000	€29.8250	€29.5800	€29.7394	XAMS	EUR
30/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
30/12/2024	-	€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 30-Dec-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on December 30, 2024?

Shell repurchased a total of 1,492,000 shares on December 30, 2024, consisting of 925,000 shares on LSEG and 567,000 shares on XAMS.

What was the price range for Shell's (SHEL) share buyback on December 30, 2024?

On LSEG, shares were purchased between £24.2850 and £24.4900, while on XAMS, the price range was €29.5800 to €29.8250.

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

The current phase of Shell's buyback program, managed by Citigroup Global Markets , will continue until January 24, 2025.

When did Shell (SHEL) announce this share buyback program?

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