SHEL SHELL PLC

Transaction in Own Shares

Transaction in Own Shares

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 purchaseNumber of Shares purchasedHighest price paid





Lowest price paid





Volume weighted average price paid per shareVenueCurrency
26/05/2025399,111€29.3700€29.1950€29.2828XAMSEUR
26/05/2025155,116€29.3700€29.2000€29.2831CBOE DXEEUR
26/05/202560,773€29.3700€29.2000€29.2902TQEXEUR

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: /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



EN
26/05/2025

Underlying

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Dirk Verbiesen ... (+2)
  • Dirk Verbiesen
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Shell plc/FY26 could be a challenging year/ HOLD (previously Buy)

Shell's performance remains quite good thanks to its trading position and continued relentless cost savings. However, we also foresee continued pressure on commodity prices which will decide the direction of Shell's profitability in FY26-27. Shell trades at an undemanding average 2025-27F EV/EBITDA of 4.2x, a marginal discount to its three major European peers. We believe a 5% premium is justified on the back of its international position, its gas exposure and focus on asset performance. Applyin...

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