Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced its latest share buyback transaction conducted on April 11, 2025. The company purchased a total of 1.5 million shares across various trading venues:

• 900,000 shares on UK venues (LSE, Chi-X, BATS) at prices ranging from £22.91 to £23.33
• 600,000 shares on European venues (XAMS, CBOE DXE) at prices between €26.57 and €27.15

This purchase is part of Shell's ongoing buyback programme announced on January 30, 2025. Natixis is executing the trades independently until April 25, 2025, following pre-set parameters and regulatory requirements including UK Listing Rules and Market Abuse Regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Substantial daily purchase volume of 1.5 million shares indicates aggressive execution of buyback program

Negative

• None.

Insights

Financial Analyst

Shell's share repurchase activity on April 11 represents the ongoing execution of its buyback program announced on January 30, 2025. The company acquired 1.5 million shares across multiple trading venues—900,000 shares in GBP markets (LSE, Chi-X, BATS) and 600,000 shares in EUR markets (XAMS, CBOE DXE).

The volume-weighted average prices paid were £23.13 for UK venues and approximately €26.89 for European venues, demonstrating consistent execution across markets. These purchases are being conducted through Natixis, which makes independent trading decisions within pre-established parameters until April 25, 2025.

While buybacks generally support shareholder value by reducing outstanding shares and potentially enhancing earnings per share, this particular announcement merely confirms the continuation of Shell's existing capital return strategy rather than representing new information. For a company with Shell's $182.5 billion market capitalization, this single day's repurchase activity represents approximately 0.05% of its total market value.

The program's structured approach, with both on-market and off-market components conducted under regulatory frameworks including UK Listing Rules and Market Abuse Regulations, indicates a systematic capital allocation strategy rather than opportunistic purchases. This execution update provides transparency but offers incremental information beyond confirming the buyback continues as previously communicated to the market.

Transaction in Own Shares

11 April, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 11 April 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
11/04/2025	600,000	£ 23.3350	£ 22.9100	£ 23.1350	LSE	GBP
11/04/2025	150,000	£ 23.3100	£ 22.9200	£ 23.1362	Chi-X (CXE)	GBP
11/04/2025	150,000	£ 23.2950	£ 22.9350	£ 23.1387	BATS (BXE)	GBP
11/04/2025	450,000	€ 27.1500	€ 26.5700	€ 26.8940	XAMS	EUR
11/04/2025	150,000	€ 27.1450	€ 26.6100	€ 26.8928	CBOE DXE	EUR
11/04/2025	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_04.11.2025

FAQ

How many shares did Shell (SHEL) purchase on April 11, 2025?

Shell purchased 1.5 million shares across different venues: 900,000 shares on UK venues and 600,000 shares on European venues.

What was the price range for Shell's (SHEL) share buyback on April 11, 2025?

In the UK, shares were purchased between £22.91 and £23.33, while European venues saw prices ranging from €26.57 to €27.15.

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

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

Who is executing Shell's (SHEL) share buyback trades?

Natixis is independently executing the trades for Shell's buyback program from January 30 to April 25, 2025.