Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on February 7, 2025, as part of its buyback programme announced on January 30, 2025. The company purchased a total of 1,000,000 shares on the London Stock Exchange and its alternative venues (LSE, Chi-X, and BATS) at prices ranging from £26.3350 to £26.5500. Additionally, 665,000 shares were purchased on European exchanges (XAMS and CBOE DXE) at prices between €31.7950 and €32.0250.

The buyback program is being executed by Natixis, who will make independent trading decisions from January 30, 2025, through April 25, 2025. The program includes both on-market and off-market components, operating under pre-set parameters and 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 strategy

Negative

• None.

Insights

Financial Analyst

Today's share repurchase operation by Shell represents a strategic deployment of approximately £44.2 million ($56 million) in capital return to shareholders. The execution strategy is particularly noteworthy, with the company conducting purchases across five distinct trading venues - LSE, Chi-X, BATS, XAMS and CBOE DXE - which optimizes liquidity capture and price efficiency.

The weighted average purchase prices show minimal variation across venues (~0.01% spread), indicating highly efficient execution. The largest block of 800,000 shares was acquired on the LSE, representing about 48% of today's total volume, while the remaining volume was strategically distributed across European exchanges.

This buyback activity is part of Shell's broader capital return strategy, which has been consistently robust despite oil price volatility. The delegation to Natixis for independent execution through April 2025 suggests a structured, compliance-focused approach that removes potential conflicts of interest and ensures steady implementation regardless of market conditions.

The timing and size of these purchases align with Shell's historical pattern of systematic capital return, demonstrating continued financial strength and commitment to shareholder value creation. The multi-venue execution strategy also reflects sophisticated treasury management, potentially reducing market impact while maintaining cost efficiency.

Transaction in Own Shares

07 February, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 07 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
07/02/2025	800,000	£ 26.5500	£ 26.3350	£ 26.4653	LSE	GBP
07/02/2025	100,000	£ 26.5500	£ 26.3550	£ 26.4680	Chi-X (CXE)	GBP
07/02/2025	100,000	£ 26.5450	£ 26.3400	£ 26.4676	BATS (BXE)	GBP
07/02/2025	532,000	€ 32.0250	€ 31.7950	€ 31.9485	XAMS	EUR
07/02/2025	133,000	€ 32.0100	€ 31.8350	€ 31.9538	CBOE DXE	EUR
07/02/2025	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_02.07.2025

FAQ

How many shares did Shell (SHEL) repurchase on February 7, 2025?

Shell purchased a total of 1,665,000 shares across different venues: 1,000,000 shares in GBP on UK venues and 665,000 shares in EUR on European venues.

What is the price range of Shell's (SHEL) share buyback on February 7, 2025?

On UK venues, shares were purchased between £26.3350 and £26.5500, while on European venues, the price range was €31.7950 to €32.0250.

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

The current buyback program, managed by Natixis, will run from January 30, 2025, through April 25, 2025.

Which trading venues did Shell (SHEL) use for its February 7, 2025 share repurchases?

Shell purchased shares across multiple venues including LSE, Chi-X (CXE), BATS (BXE), XAMS, and CBOE DXE.