Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on November 26, 2024, as part of its buyback programme announced on October 31, 2024. The company purchased 1,400,000 shares on LSEG at prices between £25.4700 and £25.7600 (VWAP: £25.6076), and 867,000 shares on XAMS at prices between €30.7700 and €31.1500 (VWAP: €30.9344). The programme, managed independently by Citigroup Global Markets , will run until January 24, 2025, operating under UK and EU market regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Substantial share repurchase volume indicates robust financial position

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows significant capital return commitment, with £25.61 average price for 1.4 million shares on LSE and €30.93 average for 867,000 shares on Euronext Amsterdam. This represents roughly £35.8 million and €26.8 million in capital returned to shareholders in a single day. The buyback program, announced on October 31, demonstrates Shell's strong cash position and confidence in its valuation. With a market cap near $200 billion, these daily volumes indicate a measured approach to capital return while maintaining balance sheet flexibility. The execution prices suggest reasonable value capture, trading near recent averages without significant premium. This systematic buyback approach typically supports share price stability and EPS accretion over time.

Transaction in Own Shares

26 November, 2024

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Shell plc (the ‘Company’) announces that on 26 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
26/11/2024	1,400,000	£25.7600	£25.4700	£25.6076	LSE	GBP
26/11/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
26/11/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
26/11/2024	867,000	€31.1500	€30.7700	€30.9344	XAMS	EUR
26/11/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
26/11/2024	-	€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 26-Nov-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on November 26, 2024?

Shell purchased 1,400,000 shares on LSEG and 867,000 shares on XAMS exchange on November 26, 2024.

What was the price range for Shell's (SHEL) share buyback on November 26, 2024?

On LSEG, shares were purchased between £25.4700 and £25.7600, and on XAMS between €30.7700 and €31.1500.

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

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