Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced its latest share buyback activity on December 11, 2024, as part of its previously announced program from October 31, 2024. The company purchased 1,150,000 shares on the London Stock Exchange at prices ranging from £24.83 to £25.185, with a volume-weighted average price of £24.9775. Additionally, 790,000 shares were purchased on XAMS at prices between €30.415 and €30.755, averaging €30.5902.

The buyback program, managed independently by Citigroup Global Markets , will continue until January 24, 2025. The program includes both on-market and off-market purchases, conducted in accordance with UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Significant daily purchase volume indicates robust execution of buyback program

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows significant capital return commitment, with 1,150,000 shares purchased on the London Stock Exchange at a VWAP of £24.9775 and 790,000 shares on Euronext Amsterdam at €30.5902. This continuation of their previously announced buyback program demonstrates strong cash flow generation and shareholder-friendly capital allocation. The execution through Citigroup ensures market compliance and independent trading decisions. The dual-listing purchases reflect Shell's complex corporate structure while maintaining liquidity in both markets. The timing and volume suggest a strategic approach to capital return while managing market impact.

Market Research Analyst

The systematic execution of Shell's buyback program, with a total daily volume of 1.94 million shares across London and Amsterdam exchanges, indicates strong market presence without causing excessive price volatility. The narrow price ranges (£24.83 to £25.19 in London) suggest well-managed execution. This buyback activity, part of the program announced on October 31, 2024, reinforces Shell's commitment to returning excess capital to shareholders. The strategy aligns with broader industry trends where energy majors are prioritizing shareholder returns amid strong cash flows.

Transaction in Own Shares

11 December, 2024

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Shell plc (the ‘Company’) announces that on 11 December 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
11/12/2024	1,150,000	£25.1850	£24.8300	£24.9775	LSE	GBP
11/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
11/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
11/12/2024	790,000	€30.7550	€30.4150	€30.5902	XAMS	EUR
11/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
11/12/2024	-	€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 31 October 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 31 October 2024 up to and including 24 January 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 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 11-Dec-24 - complete

FAQ

How many shares did Shell (SHEL) purchase on December 11, 2024?

Shell purchased 1,150,000 shares on the London Stock Exchange and 790,000 shares on XAMS (Amsterdam) on December 11, 2024.

What is the price range of Shell's (SHEL) share buyback on December 11, 2024?

On the London Stock Exchange, shares were purchased between £24.83 and £25.185, while on XAMS, the price range was €30.415 to €30.755.

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

The current share buyback program will continue until January 24, 2025.

Who manages Shell's (SHEL) share buyback program?

Citigroup Global Markets manages the trading decisions for Shell's buyback program independently of the company.

When did Shell (SHEL) announce this buyback program?

Shell announced this share buyback program on October 31, 2024.