Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) announced on 06 January 2026 that it purchased a total of 1,472,298 shares for cancellation as part of its ongoing buy-back programme announced 30 October 2025.

Purchases by venue on 06/01/2026: 735,166 shares on LSE at a VWAP of £27.6788 (high £27.85, low £27.50) and 737,132 shares on XAMS at a VWAP of €32.0363 (high €32.26, low €31.815). Merrill Lynch International is executing the programme independently through to 30 January 2026.

The programme is being carried out under the company’s on- and off-market authorities and in compliance with UK MAR and the EU MAR Delegated Regulation.

Positive

• 1,472,298 shares repurchased for cancellation on 06/01/2026
• VWAP LSE £27.6788 and VWAP XAMS €32.0363 recorded
• Programme execution managed independently by Merrill Lynch International until 30/01/2026

Negative

• No executed volume reported on Chi-X, BATS, CBOE DXE, TQEX in the 06/01/2026 breakdown

News Market Reaction

-2.84%

1 alert

-2.84% News Effect

On the day this news was published, SHEL declined 2.84%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased LSE: 735,166 shares VWAP LSE: £27.6788 Price range LSE: £27.8500–£27.5000 +5 more

8 metrics

Shares repurchased LSE 735,166 shares On-market purchases on LSE 06/01/2026 for cancellation

VWAP LSE £27.6788 Volume weighted average price per share on LSE 06/01/2026

Price range LSE £27.8500–£27.5000 Highest and lowest prices paid on LSE 06/01/2026

Shares repurchased XAMS 737,132 shares On-market purchases on XAMS 06/01/2026 for cancellation

VWAP XAMS €32.0363 Volume weighted average price per share on XAMS 06/01/2026

Price range XAMS €32.2600–€31.8150 Highest and lowest prices paid on XAMS 06/01/2026

Programme start date 30 October 2025 Buy-back programme period start for Merrill Lynch International mandate

Programme end date 30 January 2026 End of current independent trading mandate for buy-back programme

Market Reality Check

Price: $74.25 Vol: Volume 6,509,010 vs 20-da...

high vol

$74.25 Last Close

Volume Volume 6,509,010 vs 20-day average 3,758,500 (relative volume 1.73) ahead of this buy-back disclosure. high

Technical Price 75.03 is trading above the 200-day MA at 71.04, near the 52-week high of 77.47.

Peers on Argus

Peers showed mixed moves: CVX -1.15%, XOM +0.12%, TTE +1.55%, BP +1.57%, PBR -0....

Peers showed mixed moves: CVX -1.15%, XOM +0.12%, TTE +1.55%, BP +1.57%, PBR -0.76%, suggesting stock-specific dynamics around Shell’s buy-back update.

Common Catalyst Both Shell and TotalEnergies reported share repurchase activity, pointing to a common capital return theme among European integrated majors.

Historical Context

5 past events · Latest: Jan 02 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 02	Share buy-back	Positive	+2.7%	Buy-back cancellation of 1,479,234 shares across LSE and XAMS venues.
Dec 31	Capital structure update	Neutral	-0.5%	Update on total voting rights and 5,718,636,398 ordinary shares outstanding.
Dec 31	Share buy-back	Positive	-0.5%	Buy-back of LSE and XAMS shares under October 2025 programme.
Dec 30	Share buy-back	Positive	+1.0%	Cancellation of 1,863,897 shares purchased on LSE and XAMS.
Dec 29	Share buy-back	Positive	+0.4%	LSE and XAMS buy-backs executed independently under ongoing programme.

Pattern Detected

Recent buy-back disclosures have usually seen modestly positive or mixed price reactions, with occasional divergence on similar announcements.

Recent Company History

Over the past weeks, Shell has repeatedly reported purchases of its own shares for cancellation under its buy-back programme announced on 30 October 2025. Daily updates on 29–31 December 2025 and 2 January 2026 detail sizable repurchases across LSE and XAMS, often with independent execution by Merrill Lynch International. A separate Voting Rights and Capital notice on 31 December 2025 confirmed 5,718,636,398 ordinary shares outstanding. Today’s announcement continues this pattern of systematic capital returns.

Market Pulse Summary

This announcement details further purchases of Shell’s own shares for cancellation on 06 January 202...

Analysis

This announcement details further purchases of Shell’s own shares for cancellation on 06 January 2026 across LSE and XAMS as part of the buy-back programme running from 30 October 2025 to 30 January 2026. It extends a consistent stream of buy-back disclosures seen since late December, alongside a recent update confirming 5,718,636,398 ordinary shares outstanding. Investors tracking this programme may focus on ongoing daily repurchase volumes, execution prices in GBP and EUR, and how these interact with overall sector movements.

Key Terms

share buy-back programme, on-market limb, UK Listing Rules, EU MAR, +1 more

5 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.

on-market limb financial

"The on-market limb will be effected within certain pre-set parameters..."

An on-market limb is the part of a takeover or share-purchase arrangement where shares are bought directly through the stock exchange at current market prices, rather than through private, negotiated off-exchange deals. For investors it matters because on-market purchases happen publicly and at prevailing prices, which can affect the stock’s trading price, liquidity and how quickly ownership changes hands — like buying items from a store shelf versus arranging a private sale.

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

"and as amended... from time to time (“UK MAR”) and the Commission Delegated Regulation..."

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. Not financial advice.

Transaction in Own Shares   

06 January, 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 06 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
06/01/2026	735,166	27.8500	27.5000	27.6788	LSE	GBP
06/01/2026	-	-	-	-	Chi-X (CXE)	GBP
06/01/2026	-	-	-	-	BATS (BXE)	GBP
06/01/2026	737,132	32.2600	31.8150	32.0363	XAMS	EUR
06/01/2026	-	-	-	-	CBOE DXE	EUR
06/01/2026	-	-	-	-	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

• 2026.01.06 Shell RNS (with fills)

FAQ

How many shares did Shell (SHEL) repurchase on 06 January 2026?

Shell repurchased a total of 1,472,298 shares on 06 January 2026 for cancellation.

What prices did Shell (SHEL) pay for buybacks on 06 January 2026?

On 06/01/2026 Shell paid a VWAP of £27.6788 on the LSE (high £27.85, low £27.50) and a VWAP of €32.0363 on XAMS (high €32.26, low €31.815).

Who is executing Shell's (SHEL) buy-back programme and until when?

Merrill Lynch International is making trading decisions independently for the programme through 30 January 2026.

Is Shell's (SHEL) buy-back on-market or off-market?

The buy-back includes both on-market and off-market limbs under the company's general authorities and an approved off-market contract.

Which trading venues showed executed buybacks for Shell (SHEL) on 06/01/2026?

Executed volumes were reported on LSE and XAMS; Chi-X, BATS, CBOE DXE and TQEX showed no executed volume in the breakdown.