Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced its latest share buyback activity on February 14, 2025. The company purchased a total of 1,495,840 shares across multiple trading venues for cancellation. On the London Stock Exchange (LSE), 710,527 shares were purchased at prices ranging from £26.4250 to £26.9350. Additional purchases were made on Chi-X, BATS, XAMS, and CBOE DXE platforms.

These purchases are part of Shell's share buy-back programme announced on January 30, 2025. Natixis is managing the trading decisions independently until April 25, 2025. The programme includes both on-market and off-market components, operating under UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Multi-exchange purchase strategy shows liquidity management across major trading venues

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback execution represents a strategic capital allocation decision, with purchases totaling approximately 1.5 million shares across five major trading venues. The volume-weighted average prices ranged from £26.69 to £26.70 on UK venues and approximately €32.20 on European exchanges, indicating disciplined execution with minimal price impact.

The multi-venue approach, spanning LSE, Chi-X, BATS, XAMS, and CBOE DXE, demonstrates sophisticated execution strategy to optimize liquidity capture and minimize market impact. This approach typically results in better average execution prices and reduced trading costs, ultimately benefiting shareholders through more efficient capital deployment.

The delegation to Natixis for independent execution until April 25, 2025, aligns with best practices in corporate buyback programs, ensuring compliance with both UK and EU market abuse regulations while maintaining trading neutrality. This structured approach, with preset parameters and regulatory oversight, provides transparency and predictability to market participants.

This buyback activity signals strong free cash flow generation and management's confidence in the company's financial position. For investors, the continued share count reduction through buybacks typically leads to earnings per share accretion and indicates that management views the current share price as an attractive investment opportunity relative to other capital allocation alternatives.

Transaction in Own Shares

14 February, 2025

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Shell plc (the ‘Company’) announces that on 14 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
14/02/2025	710,527	£ 26.9350	£ 26.4250	£ 26.6936	LSE	GBP
14/02/2025	90,906	£ 26.9350	£ 26.4800	£ 26.7035	Chi-X (CXE)	GBP
14/02/2025	90,552	£ 26.9150	£ 26.4800	£ 26.7038	BATS (BXE)	GBP
14/02/2025	514,758	€ 32.4900	€ 31.8850	€ 32.1967	XAMS	EUR
14/02/2025	89,097	€ 32.4650	€ 31.9200	€ 32.2010	CBOE DXE	EUR
14/02/2025	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_02.14.2025

FAQ

How many shares did Shell (SHEL) buy back on February 14, 2025?

Shell purchased a total of 1,495,840 shares across various trading venues on February 14, 2025.

What is the price range of Shell's (SHEL) share buyback on February 14, 2025?

On the LSE, Shell purchased shares between £26.4250 and £26.9350, while on XAMS the price range was €31.8850 to €32.4900.

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

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

Which trading venues did Shell (SHEL) use for its February 14, 2025 share buyback?

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