Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on February 3, 2025, as part of its buyback programme announced on January 30, 2025. The company purchased:

- 1,040,000 shares on London venues (LSE and BATS) at prices between £26.16 and £26.645
- 680,000 shares on European venues (XAMS and CBOE DXE) at prices between €31.655 and €32.17

The purchases are part of both on-market and off-market buyback programmes, with Natixis making independent trading decisions from January 30, 2025, through April 25, 2025. The programme complies with UK Listing Rules, EU MAR, UK MAR, and related regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Multi-venue purchase strategy shows efficient execution across major European exchanges

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback execution represents a strategically significant capital return initiative, with 1.72 million shares purchased across multiple European exchanges. The multi-venue approach, spanning LSE, BATS, XAMS and CBOE DXE, demonstrates sophisticated execution tactics to minimize market impact while maximizing liquidity capture.

The price consistency across venues, with narrow spreads between highest and lowest prices (approximately 2% range), indicates well-managed execution and strong price discovery. The largest block of 600,000 shares was acquired on the LSE, followed by 530,000 on XAMS, suggesting careful consideration of market depth and liquidity pools.

This buyback execution, managed independently by Natixis, reflects Shell's commitment to their capital return framework while maintaining market stability. The structured approach, with pre-set parameters and regulatory compliance across UK and EU frameworks, showcases sophisticated treasury management. For investors, this represents continued commitment to shareholder returns through systematic capital redistribution, while the independent execution through Natixis helps ensure market integrity and optimal pricing.

Transaction in Own Shares

03 February, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 03 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
03/02/2025	600,000	£ 26.6450	£ 26.1600	£ 26.4010	LSE	GBP
03/02/2025	0	-	-	-	Chi-X (CXE)	GBP
03/02/2025	440,000	£ 26.6450	£ 26.1700	£ 26.4011	BATS (BXE)	GBP
03/02/2025	530,000	€ 32.1650	€ 31.6550	€ 31.9138	XAMS	EUR
03/02/2025	150,000	€ 32.1700	€ 31.6750	€ 31.9272	CBOE DXE	EUR
03/02/2025	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 - 02.03.2025

FAQ

How many shares did Shell (SHEL) repurchase on February 3, 2025?

Shell repurchased a total of 1,720,000 shares across different venues: 1,040,000 shares on London venues (LSE and BATS) and 680,000 shares on European venues (XAMS and CBOE DXE).

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

The current share buyback programme runs from January 30, 2025, through April 25, 2025, with Natixis making independent trading decisions during this period.

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

On London venues, shares were purchased between £26.16 and £26.645, while on European venues, the price range was €31.655 to €32.17.

Who executes Shell's (SHEL) share buyback trades?

Natixis executes the trades independently of Shell within pre-set parameters for both on-market and off-market purchases.