Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) announced share repurchases conducted on February 13, 2025, as part of its previously announced buyback program. The company purchased 1,294,760 shares on the London Stock Exchange and related venues at prices ranging from £26.2500 to £26.5700, and 795,922 shares on European exchanges at prices between €31.6900 and €32.0450.

These purchases are part of Shell's share buy-back programme announced on January 30, 2025. Natixis is managing the trading decisions independently until April 25, 2025, operating within pre-set parameters for both on-market and off-market transactions. The program complies with UK Listing Rules, EU MAR, UK MAR, and related regulations.

Positive

• Active share buyback program reducing share count and potentially supporting stock price
• Substantial daily purchase volume indicating strong execution of buyback program
• Multiple exchange execution strategy showing broad market coverage

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback execution represents a sophisticated approach to capital return, with approximately 2.09 million shares purchased across five major European trading venues. The weighted average purchase prices of £26.37 in London and €31.81 in Amsterdam demonstrate careful execution to minimize market impact while maximizing shareholder value.

The daily purchase volume, split between 1.29 million shares in GBP markets and 795,922 shares in EUR markets, indicates a balanced approach to maintaining liquidity across Shell's primary trading venues. This multi-venue strategy helps optimize execution costs and reduces the risk of price distortion in any single market.

This execution is particularly noteworthy as part of Shell's broader capital return strategy. The delegation to Natixis for independent trading decisions until April 2025 reflects strong corporate governance and compliance with both UK and EU market abuse regulations. The structured approach, with pre-set parameters for both on-market and off-market purchases, demonstrates Shell's commitment to disciplined capital allocation while maintaining market stability.

The continued execution of the buyback program signals robust cash flow generation and management's confidence in the company's financial position. The systematic nature of these purchases, combined with the regulatory framework adherence, suggests a well-planned approach to returning excess capital to shareholders while maintaining operational flexibility.

Transaction in Own Shares

13 February, 2025

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Shell plc (the ‘Company’) announces that on 13 February 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
13/02/2025	1,094,760	£ 26.5700	£ 26.2550	£ 26.3662	LSE	GBP
13/02/2025	100,000	£ 26.5250	£ 26.2750	£ 26.3742	Chi-X (CXE)	GBP
13/02/2025	100,000	£ 26.5500	£ 26.2500	£ 26.3773	BATS (BXE)	GBP
13/02/2025	695,922	€ 32.0450	€ 31.6900	€ 31.8011	XAMS	EUR
13/02/2025	100,000	€ 32.0400	€ 31.6900	€ 31.8109	CBOE DXE	EUR
13/02/2025	0	-	-	-	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_02.13.2025

FAQ

How many shares did Shell (SHEL) repurchase on February 13, 2025?

Shell repurchased a total of 2,090,682 shares across various trading venues, including 1,294,760 shares in GBP on London-based venues and 795,922 shares in EUR on European exchanges.

What is the price range of Shell's (SHEL) share buybacks on February 13, 2025?

On London-based venues, Shell purchased shares between £26.2500 and £26.5700, while on European exchanges, the price range was €31.6900 to €32.0450.

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

The current buyback program, managed by Natixis, runs from January 30, 2025, until April 25, 2025.

Which trading venues did Shell (SHEL) use for its February 13, 2025 buybacks?

Shell executed buybacks across multiple venues including LSE, Chi-X (CXE), BATS (BXE), XAMS, and CBOE DXE.