Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced share repurchases conducted on December 16, 2024, as part of its existing buyback programme announced on October 31, 2024. The company purchased 1,500,000 shares on the London Stock Exchange at prices between £24.5850 and £25.0200, with a volume-weighted average price of £24.7539. Additionally, 950,000 shares were purchased on XAMS at prices between €29.9750 and €30.3650, averaging €30.1345.

The buyback program, managed independently by Citigroup Global Markets , will continue until January 24, 2025. The purchases are being executed through both on-market and off-market mechanisms, in compliance with UK Listing Rules, EU MAR, and UK MAR regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Significant daily purchase volume indicates robust execution of buyback strategy

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows significant capital deployment with 1.5 million shares purchased on the London Stock Exchange at prices between £24.59 and £25.02, plus an additional 950,000 shares on Euronext Amsterdam at €29.98-30.37. This represents a substantial daily buyback volume, continuing the program announced in October 2024. The weighted average purchase prices of £24.75 and €30.13 reflect current market conditions and Shell's commitment to returning value to shareholders. These buybacks, managed independently by Citigroup through January 2025, demonstrate Shell's strong cash position and confidence in its financial outlook, while also potentially providing price support for the stock.

Market Research Analyst

The timing and execution of these buybacks are strategically important, occurring during a period of energy market volatility. The dual-market approach (London and Amsterdam) shows Shell's sophisticated capital management strategy, addressing liquidity needs in both its primary trading venues. The volume-weighted average prices suggest careful execution to minimize market impact while maximizing value. This continued share reduction should support earnings per share metrics and signals management's view that the stock represents good value at current levels. The structured nature of the program, with pre-set parameters and independent execution, demonstrates strong corporate governance and compliance with both UK and EU regulations.

Transaction in Own Shares

16 December, 2024

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Shell plc (the ‘Company’) announces that on 16 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
16/12/2024	1,500,000	£25.0200	£24.5850	£24.7539	LSE	GBP
16/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
16/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
16/12/2024	950,000	€30.3650	€29.9750	€30.1345	XAMS	EUR
16/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
16/12/2024	-	€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 16-Dec-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on December 16, 2024?

Shell repurchased 1,500,000 shares on the London Stock Exchange and 950,000 shares on XAMS (Amsterdam) on December 16, 2024.

What is the price range of Shell's (SHEL) share buyback on December 16, 2024?

On the London Stock Exchange, shares were purchased between £24.5850 and £25.0200, while on XAMS, the price range was €29.9750 to €30.3650.

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

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

Who manages Shell's (SHEL) share buyback program?

Citigroup Global Markets manages the trading decisions independently for Shell's share buyback program.