Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has executed another phase of its share buyback program on April 3, 2025, purchasing shares across multiple trading venues. The company acquired 2,321,289 shares on London-based venues (LSE, Chi-X, and BATS) at prices ranging from £26.54 to £27.35, and 1,516,527 shares on European venues (XAMS, CBOE DXE, and TQEX) at prices between €31.69 and €32.96.

This purchase is part of Shell's buyback programme announced on January 30, 2025, with Natixis managing trading decisions independently until April 25, 2025. The program includes both on-market and off-market components, operating under UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Multi-venue execution strategy ensures efficient price discovery and liquidity

Negative

• None.

Insights

Financial Analyst

Shell's share buyback activity reflects a strategic capital allocation decision that typically signals management's confidence in the company's valuation and financial position. Today's repurchase of approximately 3.84 million shares across multiple venues represents substantial daily volume within their previously announced buyback program.

The company is deploying capital through both on-market and off-market mechanisms, with independent trading decisions made by Natixis until April 25, 2025. This structured approach, operating within pre-set parameters and regulatory frameworks, demonstrates discipline in capital return strategy.

Share repurchases typically benefit shareholders through:

• Reduction in outstanding share count, potentially enhancing earnings per share metrics
• Efficient return of capital to shareholders without dividend tax implications
• Price support mechanism during market volatility
• Signal of management's view that shares represent good value

While this buyback execution itself isn't surprising given the previously announced program, the volume and consistent implementation demonstrate Shell's commitment to returning value to shareholders while maintaining compliance with UK and EU regulatory requirements.

Transaction in Own Shares

03 April, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 03 April 2025 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
03/04/2025	1,652,957	£ 27.3500	£ 26.5400	£ 26.8590	LSE	GBP
03/04/2025	275,000	£ 27.3350	£ 26.5400	£ 26.7937	Chi-X (CXE)	GBP
03/04/2025	393,332	£ 27.3450	£ 26.5600	£ 26.7624	BATS (BXE)	GBP
03/04/2025	1,155,135	€ 32.9550	€ 31.6900	€ 32.2364	XAMS	EUR
03/04/2025	311,392	€ 32.9600	€ 31.6950	€ 32.1917	CBOE DXE	EUR
03/04/2025	50,000	€ 32.0650	€ 31.6900	€ 31.8573	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 30 January 2025.

In respect of this programme, Natixis will make trading decisions in relation to the securities independently of the Company for a period from 30 January 2025 up to and including 25 April 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 Natixis 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

• Shell plc Share Buyback RNS_04.03.2025

FAQ

How many shares did Shell (SHEL) purchase on April 3, 2025?

Shell purchased a total of 3,837,816 shares across various trading venues, including 2,321,289 shares in GBP and 1,516,527 shares in EUR.

What is the duration of Shell's (SHEL) current share buyback program?

The current buyback program runs from January 30, 2025, to April 25, 2025, with Natixis managing trading decisions independently.

What was the price range for Shell (SHEL) share purchases on April 3, 2025?

On UK venues, prices ranged from £26.54 to £27.35, while on European venues, prices ranged from €31.69 to €32.96.

Which trading venues did Shell (SHEL) use for its share buyback on April 3, 2025?

Shell purchased shares across six venues: LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE, and TQEX.