Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) announced on 17 October 2024 that it purchased 750,000 shares on the London Stock Exchange at a volume-weighted average price of £25.5127 per share, and 778,000 shares on Euronext Amsterdam at a volume-weighted average price of €30.8870 per share. These purchases are part of the company's existing share buy-back programme announced on 1 August 2024.

The programme includes both on-market and off-market limbs, with Citigroup Global Markets making independent trading decisions from 1 August to 25 October 2024. The buy-back is conducted in accordance with UK and EU regulations, including the Market Abuse Regulation and the Commission Delegated Regulation.

Positive

• Shell is actively implementing its share buy-back programme, potentially increasing shareholder value
• The company is purchasing shares on multiple exchanges, demonstrating global market presence

Negative

• Large-scale share repurchases may indicate growth opportunities for reinvesting capital

Insights

Financial Analyst

Shell plc's latest share repurchase activity demonstrates a continued commitment to its buyback program announced on August 1, 2024. The company acquired 750,000 shares on the London Stock Exchange at a volume-weighted average price of £25.5127 and 778,000 shares on Euronext Amsterdam at €30.8870. This strategic move aims to enhance shareholder value by reducing the number of outstanding shares, potentially boosting earnings per share and return on equity. The buyback aligns with Shell's capital allocation strategy, suggesting confidence in the company's financial position and future prospects. However, investors should note that while share repurchases can be positive, they also reduce cash reserves that could be used for other purposes such as investments or debt reduction. The strict compliance with UK and EU regulations regarding buybacks underscores Shell's commitment to transparency and regulatory adherence in its capital management practices.

Transaction in Own Shares

17 October, 2024

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Shell plc (the ‘Company’) announces that on 17 October 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
17/10/2024	750,000	£25.6450	£25.3150	£25.5127	LSE	GBP
17/10/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
17/10/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
17/10/2024	778,000	€31.0850	€30.5850	€30.8870	XAMS	EUR
17/10/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
17/10/2024	-	€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 1 August 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 1 August 2024 up to and including 25 October 2024.

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 17-Oct-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on 17 October 2024?

Shell (SHEL) repurchased a total of 1,528,000 shares on 17 October 2024, consisting of 750,000 shares on the London Stock Exchange and 778,000 shares on Euronext Amsterdam.

What was the average price paid per share for Shell's (SHEL) stock repurchase on 17 October 2024?

The volume-weighted average price paid per share was £25.5127 on the London Stock Exchange and €30.8870 on Euronext Amsterdam.

When did Shell (SHEL) announce its current share buy-back programme?

Shell (SHEL) announced its current share buy-back programme on 1 August 2024.

Who is making the trading decisions for Shell's (SHEL) share repurchases?

Citigroup Global Markets is making independent trading decisions for Shell's (SHEL) share repurchases from 1 August 2024 to 25 October 2024.