Transaction in Own Shares

Rhea-AI Summary

Shell plc announced on 21 October 2024 the purchase of shares for cancellation as part of its existing share buy-back programme. The company bought 677,000 shares on the London Stock Exchange at a volume weighted average price of £25.6066 per share, and 729,100 shares on Euronext Amsterdam at €31.0322 per share.

This share repurchase is part of Shell's on- and off-market buy-back programme announced on 1 August 2024. Citigroup Global Markets is making independent trading decisions for the programme until 25 October 2024. The buy-back adheres to UK Listing Rules, EU and UK Market Abuse Regulations, and related delegated regulations.

Positive

• Shell is continuing its share buy-back programme, potentially increasing value for remaining shareholders
• The company has sufficient cash flow to fund share repurchases

Negative

• Large-scale share repurchases may indicate a lack of attractive growth investment opportunities for the company

Insights

Financial Analyst

Shell plc's share buyback program continues with the purchase of 677,000 shares on the London Stock Exchange at an average price of £25.6066 and 729,100 shares on Euronext Amsterdam at an average of €31.0322. This is part of the company's ongoing capital return strategy, demonstrating confidence in its financial position and commitment to shareholder value. The buyback reduces the number of outstanding shares, potentially increasing earnings per share and stock value. However, investors should note that this uses cash that could be invested in growth or held for future uncertainties. The program's pre-set parameters and compliance with market regulations suggest a structured approach to capital management. While generally positive for existing shareholders, the impact on long-term growth prospects should be considered in the broader context of Shell's strategic priorities and market conditions.

Transaction in Own Shares

21 October, 2024

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Shell plc (the ‘Company’) announces that on 21 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
21/10/2024	677,000	£25.6950	£25.5100	£25.6066	LSE	GBP
21/10/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
21/10/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
21/10/2024	729,100	€31.1600	€30.9100	€31.0322	XAMS	EUR
21/10/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
21/10/2024	-	€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 1 August 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 1 August 2024 up to and including 25 October 2024.

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 21-Oct-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on 21 October 2024?

Shell plc (SHEL) repurchased a total of 1,406,100 shares on 21 October 2024, consisting of 677,000 shares on the London Stock Exchange and 729,100 shares on Euronext Amsterdam.

What was the average price paid per share for Shell's (SHEL) stock repurchase on 21 October 2024?

The volume weighted average price paid per share was £25.6066 on the London Stock Exchange and €31.0322 on Euronext Amsterdam.

When did Shell (SHEL) announce its current share buy-back programme?

Shell plc (SHEL) announced its current share buy-back programme on 1 August 2024.

Who is making trading decisions for Shell's (SHEL) share repurchase programme?

Citigroup Global Markets is making independent trading decisions for Shell's (SHEL) share repurchase programme from 1 August 2024 to 25 October 2024.