Negative time differences with `last reboot`

Looking at last reboot | head -3, I get the following result:

reboot   system boot  5.7.10-201.fc32. Fri Jul 31 11:29   still running
reboot   system boot  5.7.10-201.fc32. Fri Jul 31 11:22 - 09:29  (-1:53)
reboot   system boot  5.7.10-201.fc32. Tue Jul 28 23:14 - 09:21 (2+10:07)

I thought at first that the times and dates were showed as "boot - shutdown", but this doesn't make sense considering the second line that shows a negative time difference. procinfo returns the correct boot time:

$ procinfo | grep Bootup
Bootup: Fri Jul 31 09:29:39 2020    Load average: 0.01 0.06 0.06 1/1071 28719

The hardware clock shows the correct time:

$ date; sudo hwclock --show
Fri 31 Jul 2020 11:55:17 AM CEST
2020-07-31 11:55:17.436472+02:00

The problem seems to lie with last reboot and who -b:

$ date; uptime; who -b
Fri 31 Jul 2020 11:55:43 AM CEST
 11:55:43 up  2:26,  2 users,  load average: 0.00, 0.04, 0.05
         system boot  2020-07-31 11:29

/var/run/utmp, read by default by who -b, doesn't exist on my system and /var/log/wtmp, read by last reboot, has the following permissions:

$ ll /var/log/wtmp
-rw-rw-r--. 1 root utmp 39K Jul 31 11:23 /var/log/wtmp

What could be the reason of these discrepancies? **EDIT** The correct shutdown time is 09:29 UTC+2. The 11:29 and 11:22 times from last reboot should be 09:29 and 09:22, respectively. As observed by @telcoM, one could think that early boot might be using UTC timezone, but then the 11:29 should be 07:29... Another detail: I'm running a simple Fedora 32 physical machine.