Transaction in Own Shares

Shell (SHEL) purchased shares for cancellation on 31 December 2025 under its existing buy-back programme announced on 30 October 2025.

Rhea-AI Summary

Shell (SHEL) purchased shares for cancellation on 31 December 2025 under its existing buy-back programme announced on 30 October 2025. Aggregated trades reported: 297,575 shares on LSE at a volume-weighted average price of £27.3601 and 264,431 shares on XAMS at a volume-weighted average price of €31.3902.

Merrill Lynch International will make trading decisions independently for the programme from 30 October 2025 through 30 January 2026. The programme is being conducted in accordance with UK Listing Rules Chapter 9 and UK MAR/EU MAR requirements.

Positive

• 297,575 shares repurchased on LSE (VWAP £27.3601)
• 264,431 shares repurchased on XAMS (VWAP €31.3902)
• Buy-back executed under existing programme announced 30 Oct 2025
• Independent broker (Merrill Lynch) trading through 30 Jan 2026

Negative

• Aggregate number of shares repurchased across all venues not summed
• Aggregate cash value of purchases not disclosed
• No trades reported on Chi-X, BATS, CBOE DXE, TQEX for 31/12/2025

Argus Dec 31 session

-0.47% close to close Open Argus

Details

News Market Reaction – SHEL

On Dec 31, the day this news came out, SHEL closed 0.47% below the previous close.

Data tracked by StockTitan Argus for the Dec 31 session.

Market Context

This announcement details further execution of Shell’s existing share buy-back programme, including ...

Analysis

This announcement details further execution of Shell’s existing share buy-back programme, including 297,575 shares on the LSE and 264,431 on XAMS for cancellation on 31 December 2025. It continues a series of similar disclosures throughout late December. Investors may watch the pace of repurchases, ongoing regulatory compliance under EU/UK MAR, and how these capital-return actions interact with sector conditions and future corporate updates.

Key Figures

Shares repurchased LSE: 297,575 shares VWAP LSE: 27.3601 GBP Shares repurchased XAMS: 264,431 shares +1 more

Shares repurchased LSE

297,575 shares

31/12/2025 buy-back for cancellation on LSE in GBP

VWAP LSE

27.3601 GBP

Volume weighted average price per share on LSE 31/12/2025

Shares repurchased XAMS

264,431 shares

31/12/2025 buy-back for cancellation on XAMS in EUR

VWAP XAMS

31.3902 EUR

Volume weighted average price per share on XAMS 31/12/2025

Historical Context

5 past events · Latest: Dec 29

5 events

1. Dec 29

   Share buy-back

   24h Move

   +0.4%

   Reported buy-back of LSE and XAMS shares under October 2025 programme.

2. Dec 24

   Share buy-back

   24h Move

   -0.3%

   Disclosed further buy-back purchases across LSE and XAMS venues.

3. Dec 24

   PDMR shareholding

   24h Move

   -0.3%

   Reported PDMR dividend-share acquisitions following interim dividend payment.

4. Dec 23

   Share buy-back

   24h Move

   +0.7%

   Announced purchase and cancellation of over 1.4M shares under buy-back.

5. Dec 22

   Share buy-back

   24h Move

   +0.8%

   Detailed 1.46M shares repurchased on LSE and XAMS within ongoing programme.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

share buy-back programme, uk listing rules, eu mar, uk mar

4 terms

share buy-back programme financial

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

A share buy-back programme is when a company purchases its own shares from the market. This reduces the total number of shares available, which can increase the value of remaining shares and signal confidence in the company's future. For investors, it can be a sign that the company believes its stock is undervalued and may lead to higher share prices.

uk listing rules regulatory

"The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5"

UK listing rules are a set of regulations that companies must follow to be officially listed on a UK stock exchange. These rules ensure that companies provide clear, accurate, and sufficient information to protect investors and maintain market confidence, similar to how safety standards ensure products are reliable. Adhering to these rules is important for investors because it helps them make informed decisions about buying or selling company shares.

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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Transaction in Own Shares   

31 December, 2025

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 31 December, 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
31/12/2025	297,575	27.4150	27.2950	27.3601	LSE	GBP
31/12/2025	-	-	-	-	Chi-X (CXE)	GBP
31/12/2025	-	-	-	-	BATS (BXE)	GBP
31/12/2025	264,431	31.5150	31.3200	31.3902	XAMS	EUR
31/12/2025	-	-	-	-	CBOE DXE	EUR
31/12/2025	-	-	-	-	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

• 2025.12.31 Shell RNS (with fills)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Shell (SHEL) repurchase on 31 December 2025?

Shell repurchased 297,575 shares on LSE and 264,431 shares on XAMS on 31 December 2025.

What were the VWAPs for Shell (SHEL) buybacks on 31 December 2025?

The VWAPs reported were £27.3601 on LSE and €31.3902 on XAMS for 31 December 2025.

Is the 31 December 2025 buyback part of an ongoing programme for Shell (SHEL)?

Yes, it is part of the on- and off-market buy-back programme announced on 30 October 2025.

Who is making trading decisions for Shell (SHEL)’s buyback programme and until when?

Merrill Lynch International will make trading decisions independently through 30 January 2026.

Were any trades reported on Chi-X, BATS, CBOE DXE, or TQEX for Shell (SHEL) on 31/12/2025?

No trades were reported on Chi-X, BATS, CBOE DXE, or TQEX for 31 December 2025.