Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on November 11, 2024, as part of its previously announced buyback programme. The company purchased 851,000 shares on LSEG at prices between £25.4500 and £25.7900, with a volume-weighted average price of £25.6149. Additionally, 512,000 shares were purchased on XAMS at prices between €31.1350 and €31.4650, averaging €31.3083. The buyback programme, managed independently by Citigroup Global Markets , runs from October 31, 2024, to January 24, 2025, and complies with UK Listing Rules and Market Abuse Regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return policy to shareholders
• Company maintains financial flexibility to execute share repurchases across multiple exchanges

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows significant capital return commitment, with 851,000 shares purchased on the London Stock Exchange at an average price of £25.61 and 512,000 shares on Euronext Amsterdam at €31.31. This is part of their previously announced buyback program from October 31, extending through January 2025.

The substantial daily purchase volume indicates strong execution of their capital return strategy. The pricing shows disciplined buying within market ranges, with spreads of about 1.3% between high and low prices on both exchanges. This systematic approach to share repurchases typically supports stock price stability and enhances shareholder value through reduced share count.

The dual-exchange execution strategy optimizes liquidity and demonstrates Shell's commitment to maintaining strong presence in both UK and European markets post-Brexit. The program's structure, with both on-market and off-market components, provides flexibility while ensuring regulatory compliance.

Transaction in Own Shares

11 November, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 11 November 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
11/11/2024	851,000	£25.7900	£25.4500	£25.6149	LSE	GBP
11/11/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
11/11/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
11/11/2024	512,000	€31.4650	€31.1350	€31.3083	XAMS	EUR
11/11/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
11/11/2024	-	€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 11-Nov-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on November 11, 2024?

Shell purchased 851,000 shares on LSEG and 512,000 shares on XAMS, totaling 1,363,000 shares on November 11, 2024.

What was the price range for Shell's (SHEL) share buyback on November 11, 2024?

On LSEG, shares were purchased between £25.4500 and £25.7900, while on XAMS, the price range was €31.1350 to €31.4650.

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

The current share buyback program runs until January 24, 2025.