Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) purchased a total of 1,313,901 shares for cancellation on 26 January 2026 across LSE and XAMS venues. Purchases recorded: 654,933 shares on LSE at a VWAP of £26.8935 and 658,968 shares on XAMS at a VWAP of €31.1419. These transactions form part of the on‑ and off‑market limbs of the Company's existing buy‑back programme announced 30 October 2025. Merrill Lynch International made independent trading decisions for the programme for the period 30 October 2025 to 30 January 2026. Trades were executed in compliance with UK MAR and EU MAR rules.

Positive

• Total repurchased 1,313,901 shares for cancellation
• LSE VWAP of £26.8935 and XAMS VWAP of €31.1419
• Buyback executed under pre‑set parameters and regulatory compliance

Negative

• Purchases may modestly reduce free float and liquidity in short term

News Market Reaction

-0.68%

1 alert

-0.68% News Effect

On the day this news was published, SHEL declined 0.68%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased LSE: 654,933 shares VWAP LSE: 26.8935 GBP Shares repurchased XAMS: 658,968 shares +5 more

8 metrics

Shares repurchased LSE 654,933 shares Purchased for cancellation on 26/01/2026 on LSE

VWAP LSE 26.8935 GBP Volume weighted average price on LSE 26/01/2026

Shares repurchased XAMS 658,968 shares Purchased for cancellation on 26/01/2026 on XAMS

VWAP XAMS 31.1419 EUR Volume weighted average price on XAMS 26/01/2026

52-week high 77.47 Pre-news 52-week high for SHEL

52-week low 58.545 Pre-news 52-week low for SHEL

Market cap 205,137,884,371 Pre-news market capitalization

Daily price change 1.84% Price change over prior 24h before this news

Market Reality Check

Price: $75.79 Vol: Volume 5,870,469 vs 20-da...

normal vol

$75.79 Last Close

Volume Volume 5,870,469 vs 20-day average 5,067,519 (relative volume 1.16) ahead of buyback disclosure. normal

Technical Price 73.75 trading above 200-day MA at 71.16, reflecting a sustained uptrend pre-announcement.

Peers on Argus

SHEL gained 1.84% while large peers were mixed: CVX -0.73%, XOM -0.09%, TTE +1.0...

SHEL gained 1.84% while large peers were mixed: CVX -0.73%, XOM -0.09%, TTE +1.07%, BP +0.25%, PBR +1.42%, pointing to a stock-specific tilt from continued buy-backs.

Historical Context

5 past events · Latest: Jan 22 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 22	Share buy-back update	Positive	-1.9%	Disclosure of 1,547,847 shares repurchased across LSE and XAMS for cancellation.
Jan 21	Share buy-back update	Positive	+1.0%	Announcement of 1,320,967 shares bought back on LSE and XAMS under programme.
Jan 20	Share buy-back update	Positive	-1.5%	Report of LSE and XAMS buy-backs under existing 30 Oct 2025 programme.
Jan 16	Share buy-back update	Positive	+1.1%	Notification of LSE and XAMS repurchases within pre-set parameters and UK MAR.
Jan 13	Share buy-back update	Positive	+2.1%	Update on 1,677,480 shares cancelled across LSE and XAMS under buy-back.

Pattern Detected

Recent buy-back disclosures show mixed next-day reactions, with both gains and declines following similar share repurchase reports.

Recent Company History

Over the past weeks, Shell has repeatedly reported purchases of its own shares for cancellation under the buy-back programme announced on 30 October 2025. Daily updates on Jan 13, 16, 20, 21, and 22 detailed LSE and XAMS volumes and volume‑weighted prices, all executed independently by Merrill Lynch International within UK MAR/EU MAR parameters. The latest announcement continues this pattern of regular repurchase disclosures without introducing new programme terms or size changes.

Market Pulse Summary

This announcement details further execution of Shell’s share buy-back, with purchases on 26 January ...

Analysis

This announcement details further execution of Shell’s share buy-back, with purchases on 26 January 2026 for cancellation across LSE and XAMS under pre-set parameters and UK MAR/EU MAR rules. It extends a series of January updates reporting daily repurchase volumes and prices. Investors tracking this theme may focus on the pace of cancellations, compliance with regulatory frameworks, and how these ongoing reductions in share count fit alongside other strategic or capital-allocation updates.

Key Terms

share buy-back programme, on- and off-market, EU MAR, UK MAR, +2 more

6 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- and off-market financial

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

On-market transactions are trades carried out through a public exchange where buy and sell orders meet and prices are visible to everyone, like shopping at a supermarket with a tagged price. Off-market transactions happen outside the exchange, such as private transfers, negotiated block trades, or direct transfers between parties, more like buying from a neighbor by agreement. Investors care because on-market trades offer price transparency and immediate liquidity, while off-market deals can move ownership without showing up in public price discovery and can affect supply, demand, and disclosure timing.

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.

off-market buyback contract financial

"off-market pursuant to the off-market buyback contract approved by its shareholders"

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.

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.

AI-generated analysis. Not financial advice.

Transaction in Own Shares   

26 January, 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 26 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
26/01/2026	654,933	27.0700	26.7500	26.8935	LSE	GBP
26/01/2026	-	-	-	-	Chi-X (CXE)	GBP
26/01/2026	-	-	-	-	BATS (BXE)	GBP
26/01/2026	658,968	31.3500	30.9650	31.1419	XAMS	EUR
26/01/2026	-	-	-	-	CBOE DXE	EUR
26/01/2026	-	-	-	-	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

• 2026.01.26 Shell RNS (with fills)

FAQ

How many shares did Shell (SHEL) repurchase on 26 January 2026?

Shell repurchased a total of 1,313,901 shares on 26 January 2026 for cancellation.

What were the VWAPs for Shell (SHEL) buybacks on 26 January 2026?

VWAPs reported were £26.8935 on LSE and €31.1419 on XAMS.

Is the 26 January 2026 share repurchase part of an existing Shell (SHEL) programme?

Yes. The purchases form part of the on‑ and off‑market limbs of the buyback programme announced 30 October 2025.

Who executed trading decisions for Shell's (SHEL) buyback programme?

Merrill Lynch International made independent trading decisions for the programme from 30 October 2025 to 30 January 2026.

Were Shell's (SHEL) buyback trades on 26 January 2026 made in compliance with regulations?

Yes. Trades were conducted in accordance with UK MAR and EU MAR rules and related delegated regulations.