Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on February 6, 2025, as part of its buyback programme announced on January 30, 2025. The company purchased:

• 1,050,000 shares on London venues (LSE, Chi-X, BATS) at prices between £26.4250-£26.9350
• 705,000 shares on European venues (XAMS, CBOE DXE) at prices between €31.7950-€32.4000

The buyback program is being executed by Natixis, who will make independent trading decisions from January 30 to April 25, 2025. The program includes both on-market and off-market purchases, conducted in accordance with UK Listing Rules, Market Abuse Regulations, and other relevant regulatory frameworks.

Positive

• Active share repurchase program indicating strong capital return to shareholders
• Substantial daily trading volume across multiple venues showing strong execution capability

Negative

• None.

Insights

Financial Markets Analyst

Shell's latest share buyback execution represents a strategically significant capital return initiative, with approximately £28 million in GBP-denominated purchases and €22.6 million in EUR-denominated acquisitions. The multi-venue execution strategy, spanning LSE, Chi-X, BATS, XAMS and CBOE DXE, demonstrates sophisticated liquidity management and price optimization.

The weighted average purchase prices (£26.64 on LSE and €32.11 on XAMS) indicate disciplined execution within a tight price range, suggesting careful consideration of market impact. The program's structure, with both on-market and off-market components, provides enhanced flexibility while maintaining regulatory compliance across UK and EU frameworks.

This buyback execution is particularly noteworthy as it represents the initial implementation phase of Shell's recently announced program. The delegation to Natixis ensures compliance with market abuse regulations while optimizing execution quality. The volume distribution across venues (81% on primary exchanges) aligns with typical liquidity patterns and best execution practices.

For investors, this systematic approach to capital return demonstrates Shell's commitment to shareholder value creation through disciplined capital allocation. The program's structure and execution methodology suggest a well-planned approach to managing market impact while maintaining price efficiency.

Transaction in Own Shares

06 February, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 06 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
06/02/2025	850,000	£ 26.9350	£ 26.4250	£ 26.6456	LSE	GBP
06/02/2025	100,000	£ 26.9300	£ 26.4450	£ 26.6479	Chi-X (CXE)	GBP
06/02/2025	100,000	£ 26.9200	£ 26.4450	£ 26.6502	BATS (BXE)	GBP
06/02/2025	572,000	€ 32.4000	€ 31.7950	€ 32.1125	XAMS	EUR
06/02/2025	133,000	€ 32.3950	€ 31.8450	€ 32.1172	CBOE DXE	EUR
06/02/2025	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_02.06.2025

FAQ

How many shares did Shell (SHEL) repurchase on February 6, 2025?

Shell purchased a total of 1,755,000 shares across different venues: 1,050,000 shares in GBP on London venues and 705,000 shares in EUR on European venues.

What is the price range of Shell's (SHEL) share buyback on February 6, 2025?

On London venues, shares were purchased between £26.4250-£26.9350, while on European venues, the price range was €31.7950-€32.4000.

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

The current buyback program, managed by Natixis, will run until April 25, 2025.

Which trading venues did Shell (SHEL) use for its February 6, 2025 buyback?

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