Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased and cancelled shares on 07 January 2026 under its existing buy-back programme. Aggregated purchases by venue totaled 2,233,786 shares

Reported price metrics: LSE VWAP GBP 26.5795, Chi-X VWAP GBP 26.4671, XAMS VWAP EUR 30.7692. Purchases form part of the on- and off-market limbs of the programme running from 30 Oct 2025 to 30 Jan 2026, with Merrill Lynch International making independent trading decisions within pre-set parameters and in accordance with UK MAR/EU MAR rules.

Positive

• 2,233,786 shares purchased for cancellation on 07/01/2026
• Reported VWAPs: GBP 26.5795, GBP 26.4671, EUR 30.7692

Negative

• None.

News Market Reaction

-1.87%

1 alert

-1.87% News Effect

On the day this news was published, SHEL declined 1.87%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Current price: $72.9 52-week range: $58.545–$77.47 20-day volume avg: 3,854,159 shares +5 more

8 metrics

Current price $72.9 Pre-news market context for SHEL

52-week range $58.545–$77.47 52-week low and high for SHEL

20-day volume avg 3,854,159 shares Average daily volume over last 20 days

LSE shares bought 1,024,026 shares Shares purchased for cancellation on 07/01/2026, LSE

LSE VWAP £26.5795 Volume-weighted average price on LSE, 07/01/2026

Chi-X shares bought 27,620 shares Shares purchased for cancellation on 07/01/2026, Chi-X (CXE)

XAMS shares bought 1,182,140 shares Shares purchased for cancellation on 07/01/2026, XAMS

XAMS VWAP €30.7692 Volume-weighted average price on XAMS, 07/01/2026

Market Reality Check

Price: $73.18 Vol: Volume 6,522,457 vs 20-da...

high vol

$73.18 Last Close

Volume Volume 6,522,457 vs 20-day avg 3,854,159 (1.69x average volume) high

Technical Trading above 200-day MA with price at 72.9 vs 200-day MA 71.04

Peers on Argus

While SHEL was down 2.84% pre-news, large integrated peers also showed declines:...

While SHEL was down 2.84% pre-news, large integrated peers also showed declines: CVX -5.06%, XOM -3.43%, TTE -2.95%, BP -2.69%, PBR -2.12%, indicating broader Energy pressure even as Shell continued its buy-back.

Historical Context

5 past events · Latest: 2026-01-05 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
2026-01-05	Share buy-back	Positive	-0.5%	Disclosure of 1,500,136 shares repurchased for cancellation across LSE and XAMS.
2026-01-02	Share buy-back	Positive	+2.7%	Report of 1,479,234 shares repurchased under October 2025 buy-back programme.
2025-12-31	Voting rights update	Neutral	-0.5%	Update on total voting rights and capital of 5,718,636,398 ordinary shares.
2025-12-31	Share buy-back	Positive	-0.5%	Announcement of LSE and XAMS share purchases for cancellation on 31 December 2025.
2025-12-30	Share buy-back	Positive	+1.0%	Disclosure of 1,863,897 shares repurchased and cancelled across LSE and XAMS.

Pattern Detected

Recent buy-back disclosures have typically led to modest, mixed price reactions, without a consistent directional pattern despite the recurring nature of the programmes.

Recent Company History

Over the last few weeks, Shell has repeatedly reported on its share buy-back activity, cancelling blocks of shares across LSE and Euronext Amsterdam under programmes announced on 2 May 2025 and 30 October 2025. Daily cancellations have ranged from hundreds of thousands to nearly two million shares, with trades executed independently by banks under UK MAR and EU MAR frameworks. A voting rights update on December 31, 2025 confirmed 5,718,636,398 ordinary shares in issue and no treasury shares, tying the repurchases directly to capital reduction.

Market Pulse Summary

This announcement details another trading day of Shell’s ongoing share buy-back, with purchases acro...

Analysis

This announcement details another trading day of Shell’s ongoing share buy-back, with purchases across LSE, Chi-X and XAMS for cancellation under the programme running through 30 January 2026. It reiterates that Merrill Lynch International executes trades independently within pre-set parameters and under UK MAR and EU MAR rules. Investors may track cumulative shares cancelled, execution prices by venue, and future voting rights updates to gauge the impact on Shell’s share capital over time.

Key Terms

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

4 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

"pursuant to the off-market buyback contract approved by its shareholders and the pre-set parameters set out therein"

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. Not financial advice.

Transaction in Own Shares   

07 January, 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 07 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
07/01/2026	1,024,026	27.0300	26.2950	26.5795	LSE	GBP
07/01/2026	27,620	26.5000	26.3850	26.4671	Chi-X (CXE)	GBP
07/01/2026	-	-	-	-	BATS (BXE)	GBP
07/01/2026	1,182,140	31.2700	30.4550	30.7692	XAMS	EUR
07/01/2026	-	-	-	-	CBOE DXE	EUR
07/01/2026	-	-	-	-	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

• 2026.01.07 Shell RNS (with fills)

FAQ

How many shares did Shell (SHEL) buy back on 07 January 2026?

Shell bought and cancelled 2,233,786 shares on 07 January 2026 across LSE, Chi-X, and XAMS.

What prices did Shell (SHEL) pay per share on 07 January 2026?

Reported volume-weighted average prices were GBP 26.5795 (LSE), GBP 26.4671 (Chi-X), and EUR 30.7692 (XAMS).

Is the 07 January 2026 buyback part of an ongoing Shell (SHEL) programme?

Yes. The purchases are part of the on- and off-market buy-back programme running from 30 Oct 2025 to 30 Jan 2026.

Who made trading decisions for Shell's (SHEL) buyback on 07 January 2026?

Merrill Lynch International made trading decisions independently on behalf of Shell within pre-set parameters.

Were the bought shares cancelled in Shell's (SHEL) 07 January 2026 transaction?

Yes. The announcement states the shares purchased on 07 January 2026 were bought for cancellation.

Under which rules was Shell's (SHEL) 07 January 2026 buyback conducted?

The programme was conducted in accordance with Chapter 9 UK Listing Rules and UK MAR/EU MAR (including delegated regulations).