Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) has announced a share buyback transaction on 01 October 2024, as part of its existing share buy-back programme announced on 1 August 2024. The company purchased 560,262 shares on the London Stock Exchange at a volume-weighted average price of £24.2617 per share, and 721,632 shares on Euronext Amsterdam at €29.6650 per share.

This buyback is part of both on-market and off-market limbs of the programme, with Citigroup Global Markets making independent trading decisions until 25 October 2024. The programme adheres to Chapter 12 of the Listing Rules, Article 5 of the Market Abuse Regulation, and related EU and UK regulations.

Positive

• Shell is actively repurchasing shares, potentially increasing shareholder value
• The company is executing its previously announced share buy-back programme
• Shell demonstrates financial strength to conduct significant share repurchases

Negative

• None.

Insights

Financial Analyst

Shell's share buyback program continues to be a significant use of capital, demonstrating the company's confidence in its financial position and commitment to returning value to shareholders. The purchase of 560,262 shares on the London Stock Exchange at a volume-weighted average price of £24.2617 and 721,632 shares on Euronext Amsterdam at €29.6650 represents a substantial investment.

This ongoing buyback, part of a program announced on August 1, 2024, aligns with Shell's strategy to optimize its capital structure and enhance shareholder returns. The use of both on-market and off-market mechanisms provides flexibility in execution. The involvement of Citigroup Global Markets as an independent decision-maker for trading adds credibility to the process.

Investors should note that while buybacks can boost earnings per share and signal management's belief in the stock's value, they also reduce cash reserves. Given Shell's 204.7 billion market cap, this buyback is a modest but meaningful portion of its overall valuation, potentially supporting the stock price in the short term.

Transaction in Own Shares

01 October, 2024

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Shell plc (the ‘Company’) announces that on 01 October 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
01/10/2024	560,262	£24.7550	£24.1500	£24.2617	LSE	GBP
01/10/2024	-	£0.0000	£0.0000	£0.0000	Chi-X (CXE)	GBP
01/10/2024	-	£0.0000	£0.0000	£0.0000	BATS (BXE)	GBP
01/10/2024	721,632	€30.2000	€29.3700	€29.6650	XAMS	EUR
01/10/2024	-	€0.0000	€0.0000	€0.0000	CBOE DXE	EUR
01/10/2024	-	€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 01-Oct-24 - complete

FAQ

How many shares did Shell plc (SHEL) repurchase on October 1, 2024?

Shell plc (SHEL) repurchased a total of 1,281,894 shares on October 1, 2024, consisting of 560,262 shares on the London Stock Exchange and 721,632 shares on Euronext Amsterdam.

What was the average price paid per share for Shell plc (SHEL) stock on October 1, 2024?

The volume-weighted average price paid per share for Shell plc (SHEL) stock on October 1, 2024, was £24.2617 on the London Stock Exchange and €29.6650 on Euronext Amsterdam.

When did Shell plc (SHEL) announce its current share buy-back programme?

Shell plc (SHEL) announced its current share buy-back programme on August 1, 2024.

Until what date will Citigroup Global Markets make trading decisions for Shell plc (SHEL) in this buy-back programme?

Citigroup Global Markets will make trading decisions for Shell plc (SHEL) independently until October 25, 2024, as part of this buy-back programme.