Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) purchased and cancelled 1,637,748 ordinary shares on 06 February 2026 across UK and European venues. Purchases were executed on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX at venue VWAPs shown in the table.

The transactions form part of the on- and off-market limbs of the share buy-back programme running from 05 February 2026 to 01 May 2026, with Morgan Stanley making independent trading decisions under pre-set parameters.

Positive

• Purchased and cancelled 1,637,748 shares on 06 February 2026
• Buy-back executed across 6 trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX)
• Programme runs from 05 Feb 2026 to 01 May 2026 with Morgan Stanley trading independently

Negative

• None.

Key Figures

Shares repurchased LSE: 524,075 shares Shares repurchased XAMS: 446,309 shares Highest price LSE: £27.9200 +5 more

8 metrics

Shares repurchased LSE 524,075 shares Purchased for cancellation on 06/02/2026 at LSE

Shares repurchased XAMS 446,309 shares Purchased for cancellation on 06/02/2026 at XAMS

Highest price LSE £27.9200 Highest price paid per share on 06/02/2026 at LSE

Highest price XAMS €32.2800 Highest price paid per share on 06/02/2026 at XAMS

VWAP LSE £27.7020 Volume weighted average price on 06/02/2026 at LSE

Shares repurchased CBOE DXE 310,111 shares Purchased for cancellation on 06/02/2026 at CBOE DXE

Shares repurchased TQEX 52,468 shares Purchased for cancellation on 06/02/2026 at TQEX

Programme period 05 February 2026–01 May 2026 Independent trading decisions by Morgan Stanley & Co. International Plc

Market Reality Check

Price: $75.29 Vol: Volume 11,356,696 is 1.69...

high vol

$75.29 Last Close

Volume Volume 11,356,696 is 1.69x the 20-day average of 6,738,523, indicating elevated trading activity before this disclosure. high

Technical Price at $74.63 is trading above the 200-day MA of $71.77, despite a -5.28% daily move.

Peers on Argus

SHEL fell 5.28% on high volume while key peers like CVX, XOM, BP, and PBR showed...

SHEL fell 5.28% on high volume while key peers like CVX, XOM, BP, and PBR showed relatively small moves (between roughly -1% and flat) and TTE was slightly positive, pointing to a stock-specific move rather than a broad sector shift.

Historical Context

5 past events · Latest: Jan 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 30	Share repurchase	Positive	-0.6%	Repurchase and cancellation of 1,361,056 shares under existing buy-back programme.
Jan 30	Capital structure update	Neutral	-0.6%	Update on total voting rights and 5,687,196,643 ordinary shares outstanding, no treasury stock.
Jan 29	Share repurchase	Positive	+2.2%	Purchase and cancellation of 1,351,003 shares across LSE and XAMS with reported VWAPs.
Jan 28	Share repurchase	Positive	+0.5%	Purchase and cancellation of 1,080,959 shares as part of ongoing buy-back programme.
Jan 26	Share repurchase	Positive	-0.7%	Cancellation of 1,313,901 shares across LSE and XAMS under existing buy-back framework.

Pattern Detected

Recent buy-back announcements have produced mixed reactions, with roughly half showing modest gains and half modest declines, suggesting no consistent short-term price pattern around these routine repurchase disclosures.

Recent Company History

This announcement continues Shell’s pattern of frequent share repurchases for cancellation under pre-announced buy-back programmes. Recent disclosures on 26–30 January 2026 detailed multiple “Transaction in Own Shares” events, each cancelling over 1.0 million shares across LSE and XAMS at VWAPs near £27–28 and €31–32. A separate Voting Rights and Capital notice on 30 January 2026 updated the total ordinary shares and confirmed no treasury shares. Together, these events show an ongoing capital return framework into which today’s trades fit.

Market Pulse Summary

This announcement details further purchases of Shell’s shares for cancellation across LSE and multip...

Analysis

This announcement details further purchases of Shell’s shares for cancellation across LSE and multiple European venues on 06 February 2026, executed by Morgan Stanley & Co. International Plc under preset parameters. It continues a regular cadence of buy-back disclosures seen through late January 2026. The news highlights ongoing capital return via reduced share count, conducted within UK Listing Rules and EU/UK MAR frameworks. Investors may track cumulative volumes, execution prices, and subsequent voting rights updates.

Key Terms

share buy-back programme, volume weighted average price, eu mar, uk 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.

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.

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 “onshored” into UK law ... from time to time (“UK MAR”)..."

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.

uk listing rules regulatory

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

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   

06 February 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 06 February 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
06/02/2026	524,075	27.9200	27.4150	27.7020	LSE	GBP
06/02/2026	206,283	27.9200	27.4200	27.6901	Chi-X (CXE)	GBP
06/02/2026	98,502	27.9100	27.4200	27.6833	BATS (BXE)	GBP
06/02/2026	446,309	32.2800	31.6900	32.0143	XAMS	EUR
06/02/2026	310,111	32.2800	31.6900	32.0107	CBOE DXE	EUR
06/02/2026	52,468	32.2600	31.6900	32.0067	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 05 February 2026.

In respect of this programme, Morgan Stanley & Co. International Plc will make trading decisions in relation to the securities independently of the Company for a period from 05 February 2026 up to and including 01 May 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 Morgan Stanley & Co. International Plc 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

• Shell_PDF_2026-02-06

FAQ

How many Shell (SHEL) shares were bought and cancelled on 06 February 2026?

Shell purchased and cancelled 1,637,748 shares on 06 February 2026. According to the company, the trades aggregated across multiple venues and are part of the existing buy-back programme announced on 05 February 2026.

Which trading venues did Shell (SHEL) use for the 06 February 2026 buy-back?

Trades were executed on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX. According to the company, the breakdown and VWAPs per venue are provided in the aggregated table accompanying the announcement.

What is the timeframe for Shell's (SHEL) buy-back programme related to the 06 February 2026 purchases?

The buy-back programme runs from 05 February 2026 through 01 May 2026. According to the company, Morgan Stanley will make independent trading decisions during that period under pre-set parameters.

Were Shell's (SHEL) 06 February 2026 share purchases on-market or off-market?

The purchases form part of both the on-market and off-market limbs of the programme. According to the company, on-market trades were within pre-set parameters and off-market trades followed shareholder-approved contract terms.

Who executed Shell's (SHEL) buy-back trades and under what rules were they conducted?

Morgan Stanley & Co. International Plc executed the trades independently for Shell. According to the company, the programme was conducted under Chapter 9 of the UK Listing Rules and UK MAR/EU MAR requirements.