Transaction in Own Shares

Rhea-AI Summary

Shell plc announces the purchase of 1,644,000 shares on the London Stock Exchange and 980,000 shares on Euronext Amsterdam on September 26, 2024, as part of its ongoing share buy-back programme. The highest price paid per share was £24.5750 on LSEG and €29.7350 on XAMS. This forms part of the Company's existing share buy-back programme announced on August 1, 2024, which will continue until October 25, 2024. Citigroup Global Markets is managing the trading decisions independently within pre-set parameters. The programme complies with relevant regulations including EU MAR, UK MAR, and the Commission Delegated Regulation (EU) 2016/1052.

Positive

• Shell is actively implementing its share buy-back programme, potentially increasing shareholder value
• The company has sufficient cash flow to fund share repurchases

Negative

• None.

Insights

Financial Analyst

Shell's share buyback program continues with significant purchases on September 26, 2024. The company acquired 1,644,000 shares on the London Stock Exchange at a volume-weighted average price of £24.2101 per share, totaling approximately £39.8 million. Additionally, 980,000 shares were purchased on Euronext Amsterdam at an average of €29.3659, amounting to about €28.8 million.

This buyback is part of Shell's previously announced program, demonstrating the company's commitment to returning value to shareholders. The scale of these purchases, totaling over £68 million in a single day, indicates Shell's strong cash position and confidence in its financial outlook. For investors, this could be seen as a positive signal about the company's financial health and management's view on the stock's valuation.

However, it's important to note that while share buybacks can boost earnings per share and stock prices in the short term, they also reduce the company's cash reserves. Investors should consider whether this capital allocation strategy aligns with their long-term expectations for Shell's growth and dividend sustainability.

Transaction in Own Shares

26 September, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 26 September 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
26/09/2024	1,644,000	£24.5750	£23.9650	£24.2101	LSE	GBP
26/09/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
26/09/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
26/09/2024	980,000	€29.7350	€29.0500	€29.3659	XAMS	EUR
26/09/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
26/09/2024	-	€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 1 August 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 1 August 2024 up to and including 25 October 2024.

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 12 of the 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-Sep-24 - complete

FAQ

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

Shell (SHEL) repurchased 1,644,000 shares on the London Stock Exchange and 980,000 shares on Euronext Amsterdam on September 26, 2024.

What was the highest price paid per share for Shell (SHEL) stock on September 26, 2024?

The highest price paid per share for Shell (SHEL) stock on September 26, 2024, was £24.5750 on the London Stock Exchange and €29.7350 on Euronext Amsterdam.

When did Shell (SHEL) announce its current share buy-back programme?

Shell (SHEL) announced its current share buy-back programme on August 1, 2024.

Until what date is Shell's (SHEL) current share buy-back programme scheduled to run?

Shell's (SHEL) current share buy-back programme is scheduled to run until October 25, 2024.