Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) purchased 1,278,353 ordinary shares for cancellation on 11 February 2026 across multiple venues and currencies.

Purchases occurred on LSE, Chi-X, BATS (GBP) and XAMS, CBOE DXE, TQEX (EUR). The trades form part of the buy-back programme announced 05 February 2026, with Morgan Stanley making independent trading decisions through 01 May 2026.

Key Figures

Shares repurchased LSE: 356,747 shares LSE highest price: 29.1750 GBP LSE VWAP: 28.8325 GBP +5 more

8 metrics

Shares repurchased LSE 356,747 shares Purchased for cancellation on 11/02/2026 on LSE

LSE highest price 29.1750 GBP Highest price paid per share on LSE 11/02/2026

LSE VWAP 28.8325 GBP Volume weighted average price on LSE 11/02/2026

Shares repurchased XAMS 372,304 shares Purchased for cancellation on XAMS 11/02/2026

XAMS highest price 33.6000 EUR Highest price paid per share on XAMS 11/02/2026

XAMS VWAP 33.2178 EUR Volume weighted average price on XAMS 11/02/2026

Programme start date 05 February 2026 Start of current share buy-back programme period

Programme end date 01 May 2026 End of current share buy-back programme period

Market Reality Check

Price: $80.23 Vol: Volume 3,782,231 is below...

low vol

$80.23 Last Close

Volume Volume 3,782,231 is below the 20-day average of 6,507,582 (relative volume 0.58). low

Technical Trading at 77.90, modestly below the 52-week high 79.30 and above the 200-day MA 71.95.

Peers on Argus

While SHEL shows a small move of 0.13%, peers flagged by momentum (e.g., BP +4.8...

3 Up

While SHEL shows a small move of 0.13%, peers flagged by momentum (e.g., BP +4.809999838471413%, PBR +4.010000079870224%) are moving more sharply, suggesting today’s disclosure is more stock-specific routine buyback news than a broad sector driver.

Historical Context

5 past events · Latest: Feb 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 09	Daily buyback update	Positive	+3.3%	Disclosure of 1,382,252 shares repurchased for cancellation under buyback.
Feb 06	Daily buyback update	Positive	+0.9%	1,637,748 shares bought back and cancelled across multiple venues.
Feb 06	Audit tender outcome	Neutral	+0.9%	Board approves proposed move from EY to PwC as future auditor.
Feb 05	Daily buyback update	Positive	-5.3%	1,588,690 shares repurchased for cancellation on first day of programme.
Feb 05	Buyback programme launch	Positive	-5.3%	Announcement of $3.5B buyback over ~3 months for up to 400M shares.

Pattern Detected

Recent buyback-related announcements often coincided with modest gains, though the initial programme launch and some early transactions saw notable negative reactions.

Recent Company History

Over early February 2026, Shell issued multiple disclosures on its share buy-back activity, including daily ‘Transaction in Own Shares’ updates on Feb 5, 6, 9 and this new notice, all under the programme announced on Feb 5, 2026. The buyback launch and the first transaction day each saw a -5.28% move, while later daily buyback reports were followed by smaller positive reactions up to +3.33%. An audit tender outcome on Feb 6 also coincided with a mild gain, indicating mixed but generally contained price responses to governance and capital return news.

Market Pulse Summary

This announcement details another trading day of share repurchases under Shell’s ongoing buy-back pr...

Analysis

This announcement details another trading day of share repurchases under Shell’s ongoing buy-back programme running from 05 February 2026 to 01 May 2026, with Morgan Stanley executing transactions independently across UK and European venues. It continues a series of similar disclosures following the $3.5 billion programme launch. Investors may track cumulative shares cancelled, execution pace across venues and any future regulatory filings that update or extend these repurchase activities.

Key Terms

share buy-back programme, EU MAR, UK MAR, off-market buyback contract, +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.

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 limb will be effected ... 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.

on-market financial

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

On-market describes buying or selling shares directly through a public stock exchange at the current market price, rather than by a private or negotiated deal. Like buying an item from a store at the posted price instead of haggling privately, on-market trades happen quickly, are visible to other investors, and can move the stock price, so they affect liquidity and provide a transparent signal about supply and demand.

AI-generated analysis. Not financial advice.

Transaction in Own Shares   

11 February 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 11 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
11/02/2026	356,747	29.1750	28.5200	28.8325	LSE	GBP
11/02/2026	211,609	29.1750	28.5200	28.8502	Chi-X (CXE)	GBP
11/02/2026	71,783	29.1700	28.5200	28.8530	BATS (BXE)	GBP
11/02/2026	372,304	33.6000	32.7850	33.2178	XAMS	EUR
11/02/2026	226,943	33.6000	32.8100	33.2104	CBOE DXE	EUR
11/02/2026	38,967	33.5800	32.8700	33.2352	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_2026-02-11

FAQ

How many shares did Shell (SHEL) buy on 11 February 2026 and were they cancelled?

Shell purchased 1,278,353 shares on 11 February 2026 and those shares were bought for cancellation. According to Shell, the purchases were executed across multiple venues in GBP and EUR as part of its existing buy-back programme announced 05 February 2026.

Which venues and currencies did Shell (SHEL) use for its 11 February 2026 buyback trades?

Trades on 11 February 2026 were executed on LSE, Chi-X, BATS (GBP) and XAMS, CBOE DXE, TQEX (EUR). According to Shell, the purchases were aggregated by venue with separate GBP and EUR transactions reported for that date.

Who made the trading decisions for Shell's (SHEL) buy-back programme and what is the decision period?

Morgan Stanley & Co. International Plc made trading decisions independently for the programme. According to Shell, the broker will act independently from 05 February 2026 up to and including 01 May 2026 under pre-set parameters.

Is Shell's (SHEL) buy-back on 11 February 2026 compliant with market rules and which rules apply?

Yes. The buy-back was conducted in accordance with UK MAR and EU MAR rules and the UK Listing Rules. According to Shell, the programme follows Chapter 9 of the UK Listing Rules and relevant Market Abuse Regulation provisions as onshored into UK law.

How were the share prices reported for Shell's (SHEL) 11 February 2026 purchases?

Shell reported highest, lowest and volume-weighted average prices per venue for 11 February 2026 trades. According to Shell, each trading venue entry lists the number of shares, highest/lowest price and the volume-weighted average price paid per share.