Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on November 19, 2024, as part of its buyback programme announced on October 31, 2024. The company purchased 1,350,000 shares on LSEG at prices between £25.6650 and £26.0200, with a volume-weighted average price of £25.7868. Additionally, 800,000 shares were purchased on XAMS at prices between €31.0050 and €31.4850, with a volume-weighted average price of €31.1738.

The programme, managed independently by Citigroup Global Markets , will run until January 24, 2025, operating within pre-set parameters and in accordance with UK Listing Rules and Market Abuse Regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Significant share repurchase volume of 2.15 million shares across markets indicates robust execution of buyback strategy

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows continued execution of their $3.5 billion Q4 2024 buyback program announced in October. Today's purchases totaled 1.35 million shares in London at a VWAP of £25.79 and 800,000 shares in Amsterdam at €31.17.

The systematic buyback approach demonstrates Shell's strong cash position and commitment to returning capital to shareholders. At current prices, this represents approximately $70 million in daily buybacks, maintaining a steady pace toward their quarterly target. The execution prices indicate disciplined purchasing within market ranges, avoiding price distortion while providing consistent support for the stock.

This ongoing buyback program, combined with Shell's 7.5% dividend yield, positions the company among the energy sector's top capital return stories, reflecting management's confidence in sustainable free cash flow generation despite oil price volatility.

Transaction in Own Shares

19 November, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 19 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
19/11/2024	1,350,000	£26.0200	£25.6650	£25.7868	LSE	GBP
19/11/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
19/11/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
19/11/2024	800,000	€31.4850	€31.0050	€31.1738	XAMS	EUR
19/11/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
19/11/2024	-	€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 19-Nov-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on November 19, 2024?

Shell purchased 1,350,000 shares on LSEG and 800,000 shares on XAMS, totaling 2,150,000 shares on November 19, 2024.

What was the price range for Shell's (SHEL) share buyback on November 19, 2024?

On LSEG, shares were purchased between £25.6650 and £26.0200, and on XAMS between €31.0050 and €31.4850.

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

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