Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced its latest share buyback activity on September 5, 2024, as part of its ongoing share repurchase program. The company bought back 842,339 shares on the London Stock Exchange at prices ranging from £25.7350 to £25.9000, with a volume-weighted average price of £25.8344. Additionally, 822,036 shares were purchased on the Amsterdam exchange at prices between €30.8650 and €31.0550, averaging €30.9835 per share.

This share buyback is part of Shell's previously announced program from August 1, 2024. Citigroup Global Markets is managing the trading decisions independently until October 25, 2024. The buyback adheres to pre-set parameters and complies with relevant regulations, including EU and UK Market Abuse Regulations.

Positive

• Ongoing share buyback program demonstrates confidence in the company's financial position
• Large volume of shares repurchased (842,339 on LSE and 822,036 on AMS) indicates significant investment in shareholder value
• Independent management of the buyback by Citigroup ensures compliance and objectivity in the process

Negative

• None.

Insights

Financial Analyst

Shell's share buyback program continues to be a significant focus for investors. Today's transaction involves the purchase of 842,339 shares on the London Stock Exchange at an average price of £25.8344 and 822,036 shares on Euronext Amsterdam at €30.9835. This ongoing buyback, part of a program announced on August 1, 2024, demonstrates Shell's commitment to returning value to shareholders.

The buyback's execution through both on-market and off-market mechanisms, with pre-set parameters and independent trading decisions by Citigroup Global Markets , suggests a structured approach to capital allocation. This strategy often indicates management's confidence in the company's financial health and future prospects. However, investors should consider the trade-off between share repurchases and other potential uses of capital, such as investments in renewable energy projects or debt reduction.

Market Research Analyst

Shell's consistent share buyback activity reflects a broader trend among oil majors to boost shareholder returns amid strong cash flows. The company's ability to sustain this program suggests robust financial performance, likely supported by favorable oil and gas prices. However, the impact on share price can be complex:

• Short-term: Often provides support for the stock price
• Long-term: May signal growth opportunities in core business

Investors should monitor how this buyback balances against Shell's investments in energy transition projects, as the company navigates the evolving energy landscape. The program's continuation until October 25, 2024, provides a clear timeline for market expectations, potentially influencing trading patterns in Shell's stock.

Transaction in Own Shares

05 September, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 05 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
05/09/2024	842,339	£25.9000	£25.7350	£25.8344	LSE	GBP
05/09/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
05/09/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
05/09/2024	822,036	€31.0550	€30.8650	€30.9835	XAMS	EUR
05/09/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
05/09/2024	-	€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 05-Sep-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on September 5, 2024?

Shell (SHEL) repurchased a total of 1,664,375 shares on September 5, 2024, with 842,339 shares bought on the London Stock Exchange and 822,036 shares on the Amsterdam exchange.

What was the price range for Shell's (SHEL) share buyback on September 5, 2024?

On the London Stock Exchange, Shell (SHEL) bought shares between £25.7350 and £25.9000. On the Amsterdam exchange, the price range was €30.8650 to €31.0550.

When did Shell (SHEL) announce this share buyback program?

Shell (SHEL) announced this share buyback program on August 1, 2024.

Who is managing Shell's (SHEL) share buyback program?

Citigroup Global Markets is independently managing the trading decisions for Shell's (SHEL) share buyback program.