Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced its latest share buyback activity on December 20, 2024, as part of its previously announced share repurchase programme. The company purchased 1,221,509 shares on the London Stock Exchange at prices ranging from £23.75 to £24.07, with a volume-weighted average price of £23.8946. Additionally, 930,000 shares were purchased on XAMS at prices between €28.875 and €29.22, averaging €29.0246.

The purchases are part of Shell's buyback programme announced on October 31, 2024, which will run until January 24, 2025. Citigroup Global Markets is executing the trades independently within pre-set parameters, including both on-market and off-market transactions.

Positive

• Active share buyback program indicates strong cash position and commitment to returning value to shareholders
• Substantial volume of shares purchased (2,151,509 total across exchanges) demonstrates significant capital deployment

Negative

• None.

Insights

Financial Market Analyst

Shell's latest share buyback activity demonstrates robust capital deployment, with the purchase of 1,221,509 shares on the London Stock Exchange at a volume-weighted average price of £23.8946 and 930,000 shares on Euronext Amsterdam at €29.0246. This strategic repurchase, part of their previously announced program, represents approximately $65 million in capital return to shareholders.

The execution through Citigroup Global Markets , operating independently within pre-set parameters, indicates a well-structured approach to market operations. The dual-market purchase strategy (LSE and Euronext) optimizes liquidity access and potentially reduces market impact. The average purchase prices suggest disciplined execution, with tight spreads between highest and lowest prices paid (£24.07 to £23.75 in London).

This buyback activity aligns with Shell's broader capital allocation strategy and signals management's confidence in the company's valuation and cash flow generation capacity. For investors, these systematic repurchases provide consistent price support and enhance earnings per share through share count reduction.

Transaction in Own Shares

20 December, 2024

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Shell plc (the ‘Company’) announces that on 20 December 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
20/12/2024	1,221,509	£24.0700	£23.7500	£23.8946	LSE	GBP
20/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
20/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
20/12/2024	930,000	€29.2200	€28.8750	€29.0246	XAMS	EUR
20/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
20/12/2024	-	€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 20-Dec-24 - complete

FAQ

How many shares did Shell (SHEL) purchase on December 20, 2024?

Shell purchased 1,221,509 shares on the London Stock Exchange and 930,000 shares on XAMS, totaling 2,151,509 shares on December 20, 2024.

What is the price range of Shell's (SHEL) share buyback on December 20, 2024?

On the London Stock Exchange, shares were purchased between £23.75 and £24.07, while on XAMS, the price range was €28.875 to €29.22.

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

The current share buyback program runs from October 31, 2024, until January 24, 2025.

Who is executing Shell's (SHEL) share buyback trades?

Citigroup Global Markets is making independent trading decisions for Shell's share buyback program.