Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on November 1, 2024, as part of its previously announced buyback programme. The company purchased 840,000 shares on LSEG at prices between £25.8350 and £26.2400, with a volume-weighted average price of £25.9779. Additionally, 625,000 shares were bought on XAMS at prices between €31.0400 and €31.4500, averaging €31.2768. The programme, managed independently by Citigroup Global Markets , will run from October 31, 2024, to January 24, 2025, following UK Listing Rules and Market Abuse Regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return policy to shareholders
• Significant share repurchase volume of 1,465,000 shares across exchanges

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity demonstrates continued commitment to their capital return program, with significant purchases of 840,000 shares on LSE at an average price of £25.98 and 625,000 shares on Euronext Amsterdam at €31.28. This systematic approach to share repurchases, part of their previously announced program, typically supports share price stability and enhances shareholder value through reduced share count. The execution through Citigroup ensures compliance with market regulations and maintains transaction independence. The dual-market purchases (UK and EU) reflect Shell's strategic approach to maintaining liquidity across its primary trading venues.

The weighted average purchase prices indicate disciplined execution, staying within a narrow range that suggests careful price management. This buyback activity, while routine, represents meaningful capital deployment and continues Shell's track record of returning excess cash to shareholders alongside their dividend policy.

Transaction in Own Shares

01 November, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 01 November 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
01/11/2024	840,000	£26.2400	£25.8350	£25.9779	LSE	GBP
01/11/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
01/11/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
01/11/2024	625,000	€31.4500	€31.0400	€31.2768	XAMS	EUR
01/11/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
01/11/2024	-	€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 31 October 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 31 October 2024 up to and including 24 January 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 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 01-Nov-24 - complete

FAQ

How many shares did Shell (SHEL) purchase on November 1, 2024?

Shell purchased a total of 1,465,000 shares on November 1, 2024, consisting of 840,000 shares on LSEG and 625,000 shares on XAMS.

What was the price range for Shell's (SHEL) share purchases on LSEG on November 1, 2024?

On LSEG, Shell purchased shares at prices ranging from £25.8350 to £26.2400, with a volume-weighted average price of £25.9779.

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

The current share buyback programme will run until January 24, 2025.