Transaction in Own Shares

Shell plc (SHEL) announced on 21 January 2026 that it purchased 1,320,967 shares for cancellation under its existing buy-back programme.

Rhea-AI Summary

Shell plc (SHEL) announced on 21 January 2026 that it purchased 1,320,967 shares for cancellation under its existing buy-back programme. Purchases by trading venue were 659,237 shares on LSE at a volume‑weighted average price of £27.3003 and 661,730 shares on XAMS at a volume‑weighted average price of €31.4427. Transactions were executed as part of the on‑ and off‑market limbs of the programme, with Merrill Lynch International making trading decisions independently through the programme period ending 30 January 2026. The buy‑back follows the company’s previously announced programme and was conducted in compliance with UK MAR and EU MAR rules.

Positive

• 1,320,967 shares repurchased for cancellation on 21 January 2026
• LSE tranche: 659,237 shares at VWAP £27.3003
• XAMS tranche: 661,730 shares at VWAP €31.4427
• Merrill Lynch International executed trades independently under the programme

Negative

• None.

Argus Jan 21 session

+0.96% close to close Open Argus

Details

News Market Reaction – SHEL

On Jan 21, the day this news came out, SHEL closed 0.96% above the previous close.

Data tracked by StockTitan Argus for the Jan 21 session.

Key Figures

Shares repurchased LSE: 659,237 shares VWAP LSE: £27.3003 Highest price LSE: £27.5100 +5 more

Shares repurchased LSE

659,237 shares

For cancellation on 21/01/2026 at LSE

VWAP LSE

£27.3003

Volume weighted average price per share, LSE 21/01/2026

Highest price LSE

£27.5100

Highest price paid per share, LSE 21/01/2026

Lowest price LSE

£27.0650

Lowest price paid per share, LSE 21/01/2026

Shares repurchased XAMS

661,730 shares

For cancellation on 21/01/2026 at XAMS

VWAP XAMS

€31.4427

Volume weighted average price per share, XAMS 21/01/2026

Highest price XAMS

€31.6900

Highest price paid per share, XAMS 21/01/2026

Lowest price XAMS

€31.1900

Lowest price paid per share, XAMS 21/01/2026

Historical Context

5 past events · Latest: Jan 16

5 events

1. Jan 16

   Share buy-back update

   24h Move

   +1.1%

   Daily disclosure of LSE and XAMS buy-back volumes and prices for cancellation.

2. Jan 13

   Share buy-back update

   24h Move

   +2.1%

   Report of 1.68M shares repurchased and cancelled across LSE and XAMS venues.

3. Jan 12

   Share buy-back update

   24h Move

   +1.2%

   Disclosure of 1.96M shares bought back and cancelled under existing programme.

4. Jan 09

   Share buy-back update

   24h Move

   +0.7%

   Multi-venue buy-back totaling over 2M shares with reported VWAP ranges.

5. Jan 08

   Share buy-back update

   24h Move

   -1.7%

   Largest disclosed daily repurchase of 2.43M shares across several trading venues.

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, on-market limb, 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.

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.

EU MAR regulatory

"Market Abuse Regulation 596/2014/EU dealing with buy-back programmes (“EU MAR”)"

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”)"

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

"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.

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

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Transaction in Own Shares   

21 January, 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 21 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
21/01/2026	659,237	27.5100	27.0650	27.3003	LSE	GBP
21/01/2026	-	-	-	-	Chi-X (CXE)	GBP
21/01/2026	-	-	-	-	BATS (BXE)	GBP
21/01/2026	661,730	31.6900	31.1900	31.4427	XAMS	EUR
21/01/2026	-	-	-	-	CBOE DXE	EUR
21/01/2026	-	-	-	-	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

• 2026.01.21 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 21 January 2026?

Shell repurchased 1,320,967 shares for cancellation on 21 January 2026.

What were the VWAPs for Shell (SHEL) buybacks on 21 January 2026 by venue?

LSE VWAP was £27.3003 and XAMS VWAP was €31.4427 on 21 January 2026.

Is Shell's 21 January 2026 buyback part of an ongoing programme (SHEL)?

Yes. The purchases form part of Shell’s on‑ and off‑market buy‑back programme announced 30 October 2025.

Who made trading decisions for Shell (SHEL) buybacks through the programme?

Merrill Lynch International made trading decisions independently for the programme period through 30 January 2026.

Were Shell's (SHEL) 21 January 2026 buybacks conducted in compliance with market rules?

Yes. The buybacks were conducted in accordance with UK MAR and EU MAR requirements and related delegated regulations.