Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on November 27, 2024, as part of its previously announced buyback programme. The company purchased 1,300,000 shares on LSEG at prices between £25.2750 and £25.5450 (VWAP: £25.4188), and 820,000 shares on XAMS at prices between €30.5750 and €30.8950 (VWAP: €30.7437). The purchases are part of the programme announced on October 31, 2024, managed independently by Citigroup Global Markets until January 24, 2025, following UK Listing Rules and Market Abuse Regulations.

Positive

• Active share buyback program demonstrates strong capital return policy to shareholders
• Significant volume of shares purchased (2.12 million shares across exchanges) indicates strong execution of buyback program

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows continued commitment to their $3.5 billion Q4 2024 buyback program. Today's purchase of 1.3 million shares on LSE at an average price of £25.42 and 820,000 shares on Euronext Amsterdam at €30.74 represents significant capital return to shareholders.

The buyback execution through Citigroup demonstrates disciplined implementation within pre-set parameters, maintaining market stability. The weighted average prices indicate careful execution without causing significant price pressure. This systematic approach to capital returns supplements Shell's dividend policy, reflecting strong cash generation and confidence in the company's financial position.

The dual-listing structure between London and Amsterdam shows balanced geographical distribution of purchases, optimizing liquidity across major trading venues while ensuring compliance with both UK and EU regulations.

Transaction in Own Shares

27 November, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 27 November 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
27/11/2024	1,300,000	£25.5450	£25.2750	£25.4188	LSE	GBP
27/11/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
27/11/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
27/11/2024	820,000	€30.8950	€30.5750	€30.7437	XAMS	EUR
27/11/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
27/11/2024	-	€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 27-Nov-24 - complete

FAQ

How many shares did Shell (SHEL) purchase on November 27, 2024?

Shell purchased a total of 2.12 million shares on November 27, 2024, consisting of 1.3 million shares on LSEG and 820,000 shares on XAMS.

What was the price range for Shell's (SHEL) share purchases on LSEG on November 27, 2024?

On LSEG, Shell purchased shares at prices ranging from £25.2750 to £25.5450, with a volume-weighted average price of £25.4188.

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

The current share buyback programme, managed by Citigroup Global Markets , will continue until January 24, 2025.