Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on February 10, 2025, as part of its buyback programme announced on January 30, 2025. The company purchased:

- 1,100,000 shares on London venues (LSE, Chi-X, BATS) at prices between £26.1950 and £26.5300
- 765,000 shares on European venues (XAMS, CBOE DXE) at prices between €31.7200 and €32.1400

The buyback program is being executed by Natixis, making independent trading decisions from January 30 to April 25, 2025. The program includes both on-market and off-market purchases, conducted under UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Substantial daily purchase volume indicates aggressive execution of buyback program

Negative

• None.

Insights

Financial Markets Analyst

This latest round of Shell's share buyback program represents a significant capital return initiative, with the company acquiring 1.86 million shares across multiple European trading venues. The strategic execution through various exchanges - including 894,839 shares on LSE and 765,000 shares on European venues - demonstrates sophisticated market engagement to minimize price impact while maximizing liquidity access.

The implementation through Natixis, operating independently until April 25, 2025, reflects best-practice corporate governance in buyback execution. The multi-venue approach, spanning both GBP and EUR denominated purchases, indicates careful consideration of trading costs and market impact. The weighted average purchase prices - ranging from £26.41 to £26.43 in London and €31.96 to €31.99 in Europe - suggest disciplined execution within tight spreads.

For investors, this buyback activity signals continued strong cash flow generation and management's confidence in Shell's valuation. The program's structure, with both on-market and off-market components, provides flexibility while ensuring regulatory compliance across UK and EU frameworks. The size and systematic nature of these purchases typically support positive price momentum while reducing share count, potentially enhancing per-share metrics.

Transaction in Own Shares

10 February, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 10 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
10/02/2025	894,839	£ 26.5300	£ 26.1950	£ 26.4253	LSE	GBP
10/02/2025	105,161	£ 26.5050	£ 26.2000	£ 26.4083	Chi-X (CXE)	GBP
10/02/2025	100,000	£ 26.5050	£ 26.2100	£ 26.4171	BATS (BXE)	GBP
10/02/2025	665,000	€ 32.1400	€ 31.7200	€ 31.9601	XAMS	EUR
10/02/2025	100,000	€ 32.1200	€ 31.7650	€ 31.9863	CBOE DXE	EUR
10/02/2025	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_02.10.2025

FAQ

How many shares did Shell (SHEL) repurchase on February 10, 2025?

Shell repurchased a total of 1,865,000 shares across different venues, including 1,100,000 shares in GBP on London venues and 765,000 shares in EUR on European venues.

What is the price range of Shell's (SHEL) share buyback on February 10, 2025?

On London venues, shares were purchased between £26.1950 and £26.5300, while on European venues, the price range was €31.7200 to €32.1400.

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

The current buyback program, executed by Natixis, will run until April 25, 2025.

Which trading venues did Shell (SHEL) use for its February 10, 2025 share repurchases?

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