Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) announced share repurchases conducted on December 19, 2024, as part of its ongoing buyback programme. The company purchased 1,189,900 shares on the London Stock Exchange at prices between £24.0400 and £24.2950, with a volume-weighted average price of £24.1313. Additionally, 800,000 shares were purchased on XAMS at prices between €29.2950 and €29.6300, averaging €29.4516.

These 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. The programme operates under UK Listing Rules and Market Abuse Regulations, including both on-market and off-market components.

Positive

• Continuation of share buyback program indicates strong capital return policy
• Significant daily purchase volume shows commitment to shareholder returns

Negative

• None.

Insights

Financial Analyst

Shell's latest share buyback activity reveals strategic capital allocation, with 1,189,900 shares purchased on the London Stock Exchange at a volume-weighted average price of £24.1313 and 800,000 shares on Amsterdam's exchange at €29.4516. This systematic repurchase program, part of the broader initiative announced on October 31, demonstrates Shell's commitment to returning excess capital to shareholders. The weighted average purchase prices suggest a calculated approach to maximize value, executing trades within a narrow price band (LSE: £24.04-£24.29). For retail investors, buybacks typically signal management's confidence in the company's financial health and often support share price stability. The execution through Citigroup ensures compliance with regulatory requirements while maintaining market integrity. The total daily volume indicates disciplined deployment of capital, balancing market impact with program objectives.

Market Research Analyst

The execution of this buyback across multiple venues - primarily LSE and Euronext Amsterdam - showcases sophisticated market approach to maintain price stability across European trading venues. The price differential between exchanges (£24.13 vs €29.45) aligns with current exchange rates, indicating efficient cross-market execution. The absence of trades on alternative venues (Chi-X, BATS, CBOE DXE, TQEX) suggests strategic concentration of liquidity for optimal price discovery. For context, this daily volume represents a manageable portion of Shell's typical daily trading volume, minimizing market impact while steadily progressing toward the program's objectives. The implementation through an independent financial intermediary (Citigroup) until January 24, 2025, ensures compliance with market regulation while optimizing execution quality.

Transaction in Own Shares

19 December, 2024

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Shell plc (the ‘Company’) announces that on 19 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
19/12/2024	1,189,900	£24.2950	£24.0400	£24.1313	LSE	GBP
19/12/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
19/12/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
19/12/2024	800,000	€29.6300	€29.2950	€29.4516	XAMS	EUR
19/12/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
19/12/2024	-	€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 19-Dec-24 - complete

FAQ

How many shares did Shell (SHEL) repurchase on December 19, 2024?

Shell repurchased 1,189,900 shares on the London Stock Exchange and 800,000 shares on XAMS (Amsterdam) on December 19, 2024.

What is the price range of Shell's (SHEL) share buyback on December 19, 2024?

On the London Stock Exchange, shares were purchased between £24.0400 and £24.2950, while on XAMS, the price range was €29.2950 to €29.6300.

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

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

When did Shell (SHEL) announce this buyback program?

Shell announced this share buy-back programme on October 31, 2024.