Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased and cancelled a total of 2,089,933 shares on 09 January 2026 across multiple venues (LSE, Chi-X, XAMS, CBOE DXE) as part of its on- and off-market share buy-back programme announced 30 October 2025. Reported volume weighted average prices per share were 26.3073–26.4896 GBP on UK venues and 30.4016–30.4383 EUR on European venues. Merrill Lynch International is making trading decisions independently for the programme from 30 October 2025 through 30 January 2026. The buy-back is being conducted under Chapter 9 of the UK Listing Rules and UK MAR/EU MAR rules and related delegated regulation.

Positive

• Total shares purchased for cancellation: 2,089,933 on 09/01/2026
• Buy-back executed across multiple venues: LSE, Chi-X, XAMS, CBOE DXE
• Independent manager: Merrill Lynch International making trading decisions through 30/01/2026

Negative

• None.

News Market Reaction

+0.74%

1 alert

+0.74% News Effect

On the day this news was published, SHEL gained 0.74%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

LSE shares repurchased: 953,773 shares LSE VWAP: GBP 26.3073 Chi-X shares repurchased: 102,065 shares +5 more

8 metrics

LSE shares repurchased 953,773 shares Purchased for cancellation on 09/01/2026, LSE venue

LSE VWAP GBP 26.3073 Volume weighted average price per share on 09/01/2026, LSE

Chi-X shares repurchased 102,065 shares Purchased for cancellation on 09/01/2026, Chi-X (CXE)

Chi-X VWAP GBP 26.4896 Volume weighted average price per share on 09/01/2026, Chi-X (CXE)

XAMS shares repurchased 1,018,727 shares Purchased for cancellation on 09/01/2026, XAMS

XAMS VWAP EUR 30.4016 Volume weighted average price per share on 09/01/2026, XAMS

CBOE DXE shares repurchased 15,368 shares Purchased for cancellation on 09/01/2026, CBOE DXE

CBOE DXE VWAP EUR 30.4383 Volume weighted average price per share on 09/01/2026, CBOE DXE

Market Reality Check

Price: $73.42 Vol: Volume 13,041,238 is 2.95...

high vol

$73.42 Last Close

Volume Volume 13,041,238 is 2.95x the 20-day average of 4,428,023, indicating elevated trading activity before this disclosure. high

Technical Price at 70.31 trades below the 200-day MA of 71.04 and is 9.24% under the 52-week high, while still 20.10% above the 52-week low.

Peers on Argus

While SHEL was down about 1.72%, key integrated peers like CVX, XOM, TTE, BP and...

While SHEL was down about 1.72%, key integrated peers like CVX, XOM, TTE, BP and PBR showed gains between 1.63% and 3.30%, pointing to a stock-specific move rather than a sector-wide decline.

Historical Context

5 past events · Latest: Jan 07 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 07	Share buy-back	Positive	-1.9%	Disclosure of 2,233,786 shares purchased for cancellation across venues.
Jan 06	Share buy-back	Positive	-2.8%	Announcement of 1,472,298 shares repurchased under October 2025 programme.
Jan 05	Share buy-back	Positive	-0.5%	Update on 1,500,136 shares cancelled via LSE and XAMS purchases.
Jan 02	Share buy-back	Positive	+2.7%	Report of 1,479,234 shares repurchased and cancelled across LSE and XAMS.
Dec 31	Voting rights update	Neutral	-0.5%	Notification of total voting rights and share count with no treasury shares.

Pattern Detected

Recent buy-back disclosures have often coincided with mixed to negative next-day moves despite the typically supportive nature of repurchases.

Recent Company History

Over the last weeks, Shell has consistently reported on- and off‑market share repurchases for cancellation under its buy‑back programmes. Daily updates on 02, 05, 06, and 07 Jan 2026 detailed multi‑venue purchases and price metrics, with varied short‑term price reactions, including moves of -2.84% and +2.67%. A year‑end Voting Rights and Capital notice on Dec 31, 2025 confirmed 5,718,636,398 ordinary shares and no treasury shares. Today’s buy‑back disclosure continues this pattern of regular capital‑structure updates.

Market Pulse Summary

This announcement details further on- and off-market share repurchases for cancellation across LSE, ...

Analysis

This announcement details further on- and off-market share repurchases for cancellation across LSE, Chi‑X, XAMS and CBOE DXE under the existing programme running through 30 January 2026. It continues a pattern of frequent buy‑back disclosures following shareholder authorities and compliance with UK MAR and EU MAR. Investors may track cumulative shares cancelled, venue pricing such as VWAPs around GBP 26–27 and EUR 30–32, and how these interact with broader energy‑sector conditions.

Key Terms

eu mar, uk mar, volume weighted average price, buy-back programme, +2 more

6 terms

eu mar regulatory

"dealing with buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law"

EU MAR is the European Union’s Market Abuse Regulation, a set of rules designed to keep financial markets fair by stopping insider trading and market manipulation and by requiring timely, accurate public disclosure of inside information. Think of it as traffic laws for trading: it sets who can share sensitive information, how it must be disclosed, and penalties for breaking the rules, which matters to investors because stronger rules reduce surprises, boost trust, and affect companies’ legal and reporting costs.

uk mar regulatory

"from time to time (“UK MAR”) and the Commission Delegated Regulation (EU) 2016/1052"

UK MAR is the UK Market Abuse Regulation, a set of laws designed to prevent insider trading, market manipulation and other dishonest practices in financial markets while setting rules for how companies must disclose important information. It matters to investors because it helps ensure a fair playing field and timely, reliable disclosures so price changes reflect real news rather than secret deals—think of it as the rulebook that keeps the market honest and predictable.

volume weighted average price technical

"Volume weighted average price paid per share | Venue | Currency"

The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.

buy-back programme financial

"part of the on- and off-market limbs of the Company's existing share buy-back programme"

A buy-back programme is when a company uses cash to repurchase its own shares from the market, reducing the number of shares available to investors. Like a store buying back its own gift cards to concentrate value, buy-backs can raise earnings per share and signal management’s confidence but also use cash that might have funded growth or dividends—details investors watch to judge impact on value and risk.

off-market buyback contract financial

"off-market limb will be effected ... pursuant to the off-market buyback contract approved"

An off-market buyback contract is an agreement where a company agrees to repurchase its shares directly from a specific investor or group of investors, outside of the regular stock exchange or public trading. This allows the company to buy back shares privately, often at a negotiated price, which can influence the company's stock value and impact investor holdings. Such contracts matter to investors because they can affect the supply of shares and the company's financial strategy.

listing rules regulatory

"conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5"

Listing rules are the set of requirements a stock exchange and regulators impose on companies to join and stay on the exchange, covering things like financial reporting, disclosures, governance and minimum size. They matter to investors because those rules create a basic level of transparency and behavior—think of them as marketplace rules that make it easier to compare sellers, reduce surprises, and protect liquidity and value; breaking the rules can lead to fines, trading suspensions or delisting.

AI-generated analysis. Not financial advice.

Transaction in Own Shares   

09 January, 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 09 January, 2026 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
09/01/2026	953,773	26.5750	25.8950	26.3073	LSE	GBP
09/01/2026	102,065	26.5500	26.3050	26.4896	Chi-X (CXE)	GBP
09/01/2026	-	-	-	-	BATS (BXE)	GBP
09/01/2026	1,018,727	30.7200	29.9750	30.4016	XAMS	EUR
09/01/2026	15,368	30.5000	30.4050	30.4383	CBOE DXE	EUR
09/01/2026	-	-	-	-	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 30 October 2025.

In respect of this programme, Merrill Lynch International will make trading decisions in relation to the securities independently of the Company for a period from 30 October 2025 up to and including 30 January 2026.

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 Merrill Lynch International 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

Attachment

• 2026.01.09 Shell RNS (with fills)

FAQ

How many Shell (SHEL) shares were purchased and cancelled on 09 January 2026?

Shell purchased and cancelled 2,089,933 shares on 09 January 2026 across reported venues.

What VWAP ranges did Shell (SHEL) report for the buy-back on 09/01/2026?

Reported volume weighted average prices were about 26.3073–26.4896 GBP on UK venues and 30.4016–30.4383 EUR on European venues.

Which broker handled Shell's (SHEL) buy-back trading decisions and for what period?

Merrill Lynch International will make trading decisions independently from 30 October 2025 up to and including 30 January 2026.

Is Shell's (SHEL) 09 January 2026 purchase part of an existing buy-back programme?

Yes. The purchases form part of the on- and off-market limbs of Shell's buy-back programme announced on 30 October 2025.

Under which rules is Shell (SHEL) conducting the buy-back programme?

The programme is being conducted under Chapter 9 of the UK Listing Rules and UK MAR (onshored EU MAR) and the EU MAR Delegated Regulation.