Transaction in Own Shares

Rhea-AI Summary

Shell plc announces share repurchases conducted on November 25, 2024, as part of its previously announced buyback programme. The company purchased 1,150,000 shares on LSEG at prices between £25.7200 and £26.1150 (VWAP: £25.9401), and 850,000 shares on XAMS at prices between €31.0950 and €31.6800 (VWAP: €31.3602). The purchases are part of Shell's share buy-back programme announced on October 31, 2024, managed independently by Citigroup Global Markets until January 24, 2025.

Positive

• Ongoing share buyback program demonstrates strong capital return policy to shareholders
• Significant volume of shares purchased (2 million shares across exchanges) indicates substantial capital deployment

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity shows significant capital return commitment, with 2 million shares purchased across London and Amsterdam exchanges. The weighted average purchase price of £25.94 in London and €31.36 in Amsterdam represents a strategic deployment of capital at current market valuations.

The buyback program, part of the broader initiative announced on October 31, demonstrates Shell's robust financial position and confidence in its valuation. With Citigroup executing trades independently until January 24, 2025, this structured approach helps maintain market stability and compliance with regulatory requirements.

This continued share repurchase activity typically signals management's view that the stock is undervalued and reflects strong free cash flow generation. For investors, buybacks effectively increase ownership stakes and typically support share price performance through reduced float and improved earnings per share metrics.

Transaction in Own Shares

25 November, 2024

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 25 November 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
25/11/2024	1,150,000	£26.1150	£25.7200	£25.9401	LSE	GBP
25/11/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
25/11/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
25/11/2024	850,000	€31.6800	€31.0950	€31.3602	XAMS	EUR
25/11/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
25/11/2024	-	€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 25-Nov-24 - complete

FAQ

How many shares did Shell (SHEL) purchase on November 25, 2024?

Shell purchased a total of 2 million shares on November 25, 2024: 1,150,000 shares on LSEG and 850,000 shares on XAMS.

What was the price range for Shell's (SHEL) share purchases on November 25, 2024?

On LSEG, shares were purchased between £25.7200 and £26.1150, and on XAMS between €31.0950 and €31.6800.

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

The current share buyback programme, managed by Citigroup Global Markets , will run until January 24, 2025.