Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on February 18, 2025, as part of its ongoing buyback programme. The company purchased a total of 1,665,171 shares across multiple venues:

- London Stock Exchange: 881,144 shares at £26.8067 (VWAP) - Chi-X: 67,289 shares at £26.8284 (VWAP) - BATS: 68,289 shares at £26.8255 (VWAP) - XAMS: 591,302 shares at €32.4597 (VWAP) - CBOE DXE: 57,147 shares at €32.4750 (VWAP)

The purchases are part of Shell's share buy-back programme announced on January 30, 2025, which will continue until April 25, 2025. Natixis is executing the trades independently within pre-set parameters, in accordance with UK Listing Rules and Market Abuse Regulations.

Positive

• Active share buyback program reducing share count and potentially increasing shareholder value
• Multi-exchange execution demonstrating strong market liquidity for SHEL shares

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback operation showcases a sophisticated multi-venue execution strategy, with approximately 1.67 million shares purchased across five trading platforms. The weighted average purchase price of £26.81 in London and €32.47 in Amsterdam represents a carefully orchestrated approach to maintain price stability while executing significant volume.

The total daily buyback value amounts to approximately £27.2 million (combining LSE, Chi-X, and BATS volumes) plus €21.1 million (Amsterdam exchanges), demonstrating substantial daily liquidity deployment. The multi-venue strategy helps optimize execution costs and minimize market impact, particularly important given the size of Shell's buyback program.

The execution through Natixis, operating independently within pre-set parameters, reflects strong corporate governance and compliance with both UK and EU market abuse regulations. This arrangement ensures price integrity and protects shareholder interests by preventing potential conflicts of interest in the buyback execution.

This buyback activity signals robust cash flow generation and management's confidence in Shell's financial position. The consistent implementation of the share repurchase program, announced on January 30, indicates a structured approach to capital return, typically associated with strong underlying business performance and healthy free cash flow generation.

The geographic diversity of the buyback execution, spread across British and European venues, reflects Shell's dual listing structure and the company's commitment to maintaining liquidity in all major trading locations. This approach helps ensure fair access for shareholders across different markets while potentially benefiting from any price discrepancies between venues.

Transaction in Own Shares

18 February, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 18 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
18/02/2025	881,144	£ 26.9300	£ 26.6800	£ 26.8067	LSE	GBP
18/02/2025	67,289	£ 26.9400	£ 26.6900	£ 26.8284	Chi-X (CXE)	GBP
18/02/2025	68,289	£ 26.9400	£ 26.7000	£ 26.8255	BATS (BXE)	GBP
18/02/2025	591,302	€ 32.5750	€ 32.3150	€ 32.4597	XAMS	EUR
18/02/2025	57,147	€ 32.5750	€ 32.3900	€ 32.4750	CBOE DXE	EUR
18/02/2025	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_02.18.2025

FAQ

How many shares did Shell (SHEL) repurchase on February 18, 2025?

Shell repurchased a total of 1,665,171 shares across various trading venues on February 18, 2025.

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

The current share buyback program runs from January 30, 2025, through April 25, 2025.

What was the highest price paid for Shell (SHEL) shares during the February 18 buyback?

The highest price paid was £26.94 on Chi-X and BATS exchanges, and €32.575 on XAMS and CBOE DXE.

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

Natixis is making independent trading decisions for Shell's share buyback program within pre-set parameters.