Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased and cancelled a total of 61,955 shares on 18 February 2026 across multiple European venues. Purchases were executed on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX at VWAPs of ~£28.86 and ~€33.13.

These transactions form part of the on- and off-market limbs of the company's buy-back programme running 05 February 2026 through 01 May 2026, with Morgan Stanley making independent trading decisions within preset parameters and relevant MAR/UK MAR rules.

Positive

• 61,955 shares repurchased for cancellation on 18 February 2026
• Trades executed across six venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX)
• Buy-back program runs from 05 Feb to 01 May 2026 under preset parameters

Negative

• Purchases executed at VWAPs of £28.8565 (GBP venues) and €33.1342 (EUR venues) representing immediate cash outflow

Key Figures

Shares purchased LSE: 27,925 shares VWAP LSE: GBP 28.8565 Shares purchased Chi-X: 6,748 shares +5 more

8 metrics

Shares purchased LSE 27,925 shares Buy-back on 18/02/2026, LSE venue

VWAP LSE GBP 28.8565 Volume weighted average price on 18/02/2026, LSE

Shares purchased Chi-X 6,748 shares Buy-back on 18/02/2026, Chi-X (CXE) venue

VWAP Chi-X GBP 28.8728 Volume weighted average price on 18/02/2026, Chi-X (CXE)

Shares purchased XAMS 8,763 shares Buy-back on 18/02/2026, XAMS venue

VWAP XAMS EUR 33.1783 Volume weighted average price on 18/02/2026, XAMS

Buy-back start date 05 February 2026 Programme start; Morgan Stanley trading independently

Buy-back end date 01 May 2026 Programme scheduled end for independent trading

Market Reality Check

Price: $79.87 Vol: Volume 4,796,599 vs 20-da...

normal vol

$79.87 Last Close

Volume Volume 4,796,599 vs 20-day average 6,571,268 suggests quieter trading ahead of this buyback disclosure. normal

Technical Shares at 77.94 are trading above the 200-day MA of 72.22, indicating a pre-existing upward bias.

Peers on Argus

SHEL was down 1.05% with key peers also softer: CVX -1.5%, XOM -1.36%, BP -0.21%...

SHEL was down 1.05% with key peers also softer: CVX -1.5%, XOM -1.36%, BP -0.21%, PBR -0.46%, while TTE was roughly flat at +0.04%. The move appeared more stock-specific than a strong sector rotation.

Common Catalyst At least one peer (TTE) also reported a 'Transactions in Own Shares' disclosure, highlighting ongoing capital return activity in the group.

Historical Context

5 past events · Latest: Feb 17 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 17	Share buyback update	Positive	-1.1%	712,623 shares purchased for cancellation across multiple venues under buy-back.
Feb 16	Share buyback update	Positive	-1.1%	1,380,295 shares bought and cancelled as part of ongoing programme.
Feb 12	Share buyback update	Positive	-2.5%	1,396,574 shares purchased for cancellation across several trading venues.
Feb 11	Share buyback update	Positive	+3.0%	1,278,353 ordinary shares repurchased and cancelled in buy-back programme.
Feb 10	Share buyback update	Positive	+0.1%	1,127,688 shares repurchased on six venues as part of buy-back.

Pattern Detected

Recent buyback disclosures have often coincided with neutral-to-negative next-day moves, with only one of the last five such announcements seeing a positive reaction.

Recent Company History

Over the past weeks, SHEL has issued a series of daily "Transaction in Own Shares" updates, cancelling between 1.1M and 1.4M shares on most days from 10–17 Feb 2026. All purchases form part of the buy-back programme announced on 05 Feb 2026, executed independently by Morgan Stanley through 01 May 2026. Despite the shareholder-friendly nature of these repurchases, price reactions have been mixed, with several updates followed by modest declines and only one showing a clearly positive move.

Market Pulse Summary

This announcement details another day of buy-back activity under Shell’s programme running from 05 F...

Analysis

This announcement details another day of buy-back activity under Shell’s programme running from 05 February 2026 to 01 May 2026, with Morgan Stanley executing trades independently across UK and EU venues. It continues a pattern of daily “Transaction in Own Shares” updates seen since early February. Investors may monitor cumulative shares cancelled, pricing levels in GBP and EUR, and how these routine repurchases intersect with broader energy-sector moves and Shell’s position above its 72.22 200-day moving average.

Key Terms

share buy-back programme, on-market limb, UK Listing Rules, EU 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 and in accordance with the Company’s general authority"

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.

UK Listing Rules regulatory

"The programme will be conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5 of the Market Abuse Regulation"

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.

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 EU MAR 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.

AI-generated analysis. Not financial advice.

Transaction in Own Shares   

18 February 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 18 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
18/02/2026	27,925	29.1400	28.6850	28.8565	LSE	GBP
18/02/2026	6,748	29.1250	28.6850	28.8728	Chi-X (CXE)	GBP
18/02/2026	8,426	29.1850	28.7900	28.9035	BATS (BXE)	GBP
18/02/2026	8,763	33.3450	32.9950	33.1783	XAMS	EUR
18/02/2026	8,530	33.2800	33.0000	33.1342	CBOE DXE	EUR
18/02/2026	1,563	33.1950	32.9750	33.1115	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_2026-02-18

FAQ

What did Shell (SHEL) announce on 18 February 2026 about share purchases?

Shell announced the purchase and cancellation of 61,955 shares on 18 February 2026. According to the company, trades occurred across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX at listed VWAPs and prices.

How many shares did Shell (SHEL) buy back on 18/02/2026 and across which venues?

Shell bought back a total of 61,955 shares on 18 February 2026. According to the company, purchases were split across LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX.

What prices did Shell (SHEL) pay per share during the 18 February 2026 buyback?

Shell paid VWAPs of approximately £28.86 on GBP venues and €33.13 on EUR venues. According to the company, highest and lowest trade prices per venue are included in the disclosed table.

Who executed Shell's (SHEL) buyback trades and what are the programme dates?

Morgan Stanley executed the buyback trades independently for Shell. According to the company, the programme runs from 05 February 2026 up to and including 01 May 2026 within preset parameters.

How does Shell (SHEL) say the buy-back complies with market rules and regulations?

Shell stated the programme is conducted under Chapter 9 UK Listing Rules and EU/UK MAR provisions. According to the company, the transactions follow the EU MAR Delegated Regulation as onshored into UK law.