Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced its latest share buyback transaction on December 18, 2024. The company purchased 1,212,200 shares on the London Stock Exchange at prices ranging from £24.1600 to £24.3900, with a volume-weighted average price of £24.2564. Additionally, 831,000 shares were purchased on XAMS at prices between €29.4800 and €29.7350, averaging €29.6028.

These purchases are part of Shell's share buyback programme announced on October 31, 2024. Citigroup Global Markets is managing the trading decisions independently until January 24, 2025, operating within pre-set parameters for both on-market and off-market transactions.

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 Markets Analyst

Shell's latest share buyback execution reveals strategic capital deployment, with 1,212,200 shares purchased on the London Stock Exchange at a VWAP of £24.2564 and 831,000 shares on Euronext Amsterdam at €29.6028. This continuation of their October 2024 buyback program demonstrates strong free cash flow generation and commitment to shareholder returns. The dual-market approach (LSE and Euronext) optimizes liquidity and pricing efficiency while ensuring regulatory compliance across UK and EU frameworks.

The execution through Citigroup, operating independently within pre-set parameters, indicates robust governance and compliance with market regulations. The volume and pricing suggest careful execution to minimize market impact while maximizing value. The weighted average prices achieved are well-balanced against recent trading ranges, indicating efficient execution.

Corporate Treasury Expert

The structured buyback approach across multiple venues showcases sophisticated treasury management. The split between London (1.2M shares) and Amsterdam (831K shares) markets reflects optimal capital allocation considering liquidity pools and price dynamics. The tight spread between highest and lowest prices (£24.39 to £24.16 in London) indicates disciplined execution and minimal market impact despite significant volume.

For retail investors, this systematic buyback provides technical support for the stock while reducing share count, potentially enhancing EPS. The pre-set parameter structure and independent execution by Citigroup ensure market integrity and protect shareholder interests. The program's continuation signals management's confidence in Shell's valuation and cash generation capacity.

Transaction in Own Shares

18 December, 2024

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Shell plc (the ‘Company’) announces that on 18 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
18/12/2024	1,212,200	£24.3900	£24.1600	£24.2564	LSE	GBP
18/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
18/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
18/12/2024	831,000	€29.7350	€29.4800	€29.6028	XAMS	EUR
18/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
18/12/2024	-	€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 18-Dec-24 - complete

FAQ

How many shares did Shell (SHEL) purchase on December 18, 2024?

Shell purchased 1,212,200 shares on the London Stock Exchange and 831,000 shares on XAMS (Amsterdam) on December 18, 2024.

What is the price range of Shell's (SHEL) share buyback on December 18, 2024?

On the London Stock Exchange, shares were purchased between £24.1600 and £24.3900, while on XAMS, the price range was €29.4800 to €29.7350.

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

The current buyback program, managed by Citigroup Global Markets , will continue until January 24, 2025.

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

Shell announced this share buyback program on October 31, 2024.