Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced its latest share buyback transaction conducted on April 15, 2025. The company purchased a total of 1.5 million shares across multiple venues: 900,000 shares on UK venues (LSE, Chi-X, BATS) at prices ranging between £23.52-£23.84, and 600,000 shares on European venues (XAMS, CBOE DXE) at prices between €27.65-€28.11.

This purchase is part of Shell's ongoing buyback programme announced on January 30, 2025. Natixis is executing the trades independently until April 25, 2025, through both on-market and off-market mechanisms. The programme complies with UK Listing Rules, EU MAR, UK MAR, and related regulations.

Positive

• Ongoing share buyback program demonstrates strong capital return commitment to shareholders
• Substantial daily purchase volume of 1.5 million shares indicates significant buyback execution

Negative

• None.

Insights

Financial Analyst

Shell's continued share repurchase activity signals steady execution of its capital return strategy. On April 15, the company acquired 1.5 million shares across multiple trading venues at prices ranging from £23.53 to £23.84 in London and €27.65 to €28.11 in European markets.

This buyback represents approximately 0.05% of Shell's outstanding shares in a single day, which translates to roughly $45 million in capital deployment (based on current exchange rates). While modest for a company with a $186.4 billion market capitalization, the cumulative effect of these daily purchases through the program's conclusion on April 25 will have measurable impact on Shell's share count.

The managed execution through Natixis, with transactions spread across multiple venues (LSE, Chi-X, BATS, XAMS, CBOE), indicates a sophisticated approach designed to minimize market impact while maximizing execution efficiency. The volume-weighted average prices (£23.69 and €27.88) show disciplined implementation within tight price ranges.

This activity follows the standard playbook for energy majors with strong cash positions, efficiently returning capital to shareholders while potentially enhancing earnings per share metrics. The regulatory compliance details (UK Listing Rules, EU and UK Market Abuse Regulations) highlight the structured, programmatic nature of these buybacks rather than opportunistic purchases.

Investors should view this as continued execution of Shell's previously announced capital allocation framework rather than new strategic information, with the primary significance being the company's ongoing commitment to shareholder returns even while maintaining investment in energy transition initiatives.

Transaction in Own Shares

15 April, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 15 April 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
15/04/2025	600,000	£ 23.8400	£ 23.5250	£ 23.6864	LSE	GBP
15/04/2025	150,000	£ 23.8400	£ 23.5550	£ 23.6790	Chi-X (CXE)	GBP
15/04/2025	150,000	£ 23.8350	£ 23.5550	£ 23.6785	BATS (BXE)	GBP
15/04/2025	500,000	€ 28.1100	€ 27.6500	€ 27.8763	XAMS	EUR
15/04/2025	100,000	€ 28.0850	€ 27.6950	€ 27.8530	CBOE DXE	EUR
15/04/2025	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_04.15.2025

FAQ

How many shares did Shell (SHEL) purchase on April 15, 2025?

Shell purchased 1.5 million shares total: 900,000 shares across UK venues and 600,000 shares on European venues.

What is the price range for Shell's (SHEL) share buyback on April 15, 2025?

In the UK, shares were purchased between £23.52-£23.84, while European venues saw prices ranging from €27.65-€28.11.

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

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

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

Natixis is making independent trading decisions for Shell's buyback program from January 30 to April 25, 2025.