Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has executed share repurchases on May 26, 2025, as part of its ongoing buyback program announced on May 2, 2025. The company purchased a total of 615,000 shares across three venues:

- XAMS: 399,111 shares at €29.28 VWAP - CBOE DXE: 155,116 shares at €29.28 VWAP - TQEX: 60,773 shares at €29.29 VWAP

BNP PARIBAS SA will independently manage trading decisions for the program, which runs until July 25, 2025. The buyback includes both on-market and off-market components, conducted under UK and EU regulatory frameworks.

Positive

• Ongoing share buyback program demonstrates confidence in company's financial position
• Buyback reduces share count, potentially increasing earnings per share
• Program execution through multiple venues ensures efficient price discovery

Negative

• Cash outflow for buyback reduces available capital for operations or investments
• Share repurchases may limit funds available for dividend payments

Insights

Financial Analyst

Shell continues its share buyback program, purchasing 615,000 shares across European exchanges at ~€29.28 per share.

Shell's latest transaction report reveals the company purchased approximately 615,000 shares for cancellation on May 26, 2025, at a volume-weighted average price of about €29.28 per share. This purchase, executed across multiple European trading venues (XAMS, CBOE DXE, and TQEX), is part of Shell's ongoing share buyback program that was previously announced on May 2, 2025.

This repurchase activity represents a continuation of Shell's capital return strategy rather than a new initiative. The program is structured with both on-market and off-market components, with BNP PARIBAS SA making independent trading decisions within pre-established parameters from May 2 through July 25, 2025.

Share buybacks generally signal management's confidence in the company's financial position and typically benefit shareholders through enhanced earnings per share by reducing the number of outstanding shares. This particular transaction reveals Shell's ongoing commitment to returning capital to shareholders, though the release doesn't specify the total size of the current buyback program or how much has been completed to date.

The transaction's execution across multiple European venues (with the bulk occurring on XAMS) demonstrates Shell's liquidity across trading platforms, with remarkably consistent pricing achieved across all venues (within 0.03% variance in volume-weighted average prices).

Transaction in Own Shares

26 May, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 26 May, 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
26/05/2025	399,111	€29.3700	€29.1950	€29.2828	XAMS	EUR
26/05/2025	155,116	€29.3700	€29.2000	€29.2831	CBOE DXE	EUR
26/05/2025	60,773	€29.3700	€29.2000	€29.2902	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 2 May 2025.

In respect of this programme, BNP PARIBAS SA will make trading decisions in relation to the securities independently of the Company for a period from 2 May 2025 up to and including 25 July 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 BNP PARIBAS SA on behalf of the Company as a part of the buy-back programme is detailed below.

Enquiries

Media: International +44 (0) 207 934 5550; U.S. and Canada: https://www.shell.us/about-us/news-and-insights/media/submit-an-inquiry.html

LEI number of Shell plc: 21380068P1DRHMJ8KU70

Classification: Acquisition or disposal of the issuer’s own shares

Attachment

• RNS Report SHELL 2025 05 26

FAQ

How many shares did Shell (SHEL) repurchase on May 26, 2025?

Shell purchased a total of 615,000 shares across three venues: 399,111 shares on XAMS, 155,116 shares on CBOE DXE, and 60,773 shares on TQEX.

What is the duration of Shell's current share buyback program?

The current share buyback program runs from May 2, 2025, to July 25, 2025, managed independently by BNP PARIBAS SA.

What was the price range for Shell's share repurchases on May 26, 2025?

Shell purchased shares between €29.1950 (lowest) and €29.3700 (highest), with volume-weighted average prices around €29.28-29.29 per share.

Who manages Shell's share buyback program?

BNP PARIBAS SA manages the trading decisions independently of Shell for the duration of the buyback program.

What regulatory frameworks govern Shell's buyback program?

The program is conducted under UK Listing Rules, EU MAR, UK MAR, and the EU MAR Delegated Regulation, including post-Brexit adaptations.