Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) purchased shares for cancellation on 09 March 2026 as part of its ongoing buy-back programme announced 05 February 2026. Aggregated purchases across trading venues total 295,391 shares with GBP volume-weighted average prices ~31.8800 and EUR VWAPs ~36.83.

Purchases were executed on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX and will be conducted under the programme parameters to 01 May 2026 by Morgan Stanley & Co. International Plc.

Positive

• Buyback of 295,391 shares executed on 09 March 2026
• Trades completed across six venues (LSE, CXE, BXE, XAMS, DXE, TQEX)
• GBP VWAP ~31.8800, EUR VWAPs ~36.82–36.85

Negative

• None.

News Market Reaction – SHEL

+1.05%

1 alert

+1.05% News Effect

On the day this news was published, SHEL gained 1.05%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased LSE: 86,235 shares VWAP LSE: 31.8800 GBP Shares repurchased Chi-X: 45,376 shares +5 more

8 metrics

Shares repurchased LSE 86,235 shares 09/03/2026, LSE venue

VWAP LSE 31.8800 GBP 09/03/2026 buyback, LSE

Shares repurchased Chi-X 45,376 shares 09/03/2026, Chi-X (CXE)

VWAP Chi-X 31.8827 GBP 09/03/2026 buyback, Chi-X

Shares repurchased XAMS 94,080 shares 09/03/2026, XAMS venue

VWAP XAMS 36.8231 EUR 09/03/2026 buyback, XAMS

Programme start date 05 February 2026 Current buy-back programme period

Programme end date 01 May 2026 Trading period for Morgan Stanley mandate

Market Reality Check

Price: $87.40 Vol: Volume 9,919,221 is 52% a...

high vol

$87.40 Last Close

Volume Volume 9,919,221 is 52% above the 20-day average of 6,532,538, indicating elevated interest ahead of this buyback disclosure. high

Technical Price at 84.7 trades above the 200-day MA of 73.24 and sits 0.54% below the 52-week high of 85.16.

Peers on Argus

SHEL gained 2.12% while peers were mixed: CVX -0.49%, XOM -1.27%, TTE +0.96%, BP...

SHEL gained 2.12% while peers were mixed: CVX -0.49%, XOM -1.27%, TTE +0.96%, BP +1.89%, PBR +2.03%. The divergence from some large peers suggests a more stock-specific bid, consistent with ongoing buybacks.

Historical Context

5 past events · Latest: Mar 05 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 05	Share buyback update	Neutral	+0.3%	Disclosure of 1,109,500 shares purchased and cancelled under ongoing buyback.
Mar 05	PDMR share awards	Neutral	+0.3%	Vesting of 2023 Long Term Incentive Plan awards to key executives.
Mar 04	Share buyback update	Neutral	+0.5%	Announcement of 1,949,746 shares bought for cancellation across venues.
Mar 04	PDMR share award	Neutral	+0.5%	Conditional award of 11,269 shares to Andrew Smith under Shell Share Plan 2023.
Mar 03	Share buyback update	Neutral	-2.2%	Purchase and cancellation of 2,060,266 shares under existing buyback programme.

Pattern Detected

Recent buyback and management share-related disclosures have typically seen small, mostly positive price moves, with one notable decline despite neutral buyback news.

Recent Company History

Over 03–05 March 2026, SHEL repeatedly reported buybacks and management share awards. On 03 March, it cancelled 2,060,266 shares under the current programme, yet the stock moved -2.24%. Subsequent buyback updates on 04 and 05 March (up to 1,949,746 shares cancelled) and PDMR share awards saw modest gains of 0.29–0.45%. Today’s further buyback disclosure continues this pattern of regular capital-return and governance updates within the same February–May 2026 programme.

Market Pulse Summary

This announcement details further execution of Shell’s ongoing share buy-back programme, with purcha...

Analysis

This announcement details further execution of Shell’s ongoing share buy-back programme, with purchases on 09 March 2026 across UK and European venues at clearly reported volume-weighted prices in GBP and EUR. It follows several days of similar disclosures in early March and sits within a defined window from 05 February to 01 May 2026, managed independently by Morgan Stanley. Investors would monitor cumulative repurchase volumes, execution across venues, and how activity near the 52-week high interacts with broader energy-sector moves.

Key Terms

buy-back programme, on-market limb, EU MAR, UK MAR

4 terms

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 buy-back programme is when a company uses cash to repurchase its own shares from the market, reducing the number of shares available to investors. Like a store buying back its own gift cards to concentrate value, buy-backs can raise earnings per share and signal management’s confidence but also use cash that might have funded growth or dividends—details investors watch to judge impact on value and risk.

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

"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.

AI-generated analysis. Not financial advice.

Transaction in Own Shares      

09 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 09 March 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
09/03/2026	86,235	32.0900	31.7250	31.8800	LSE	GBP
09/03/2026	45,376	31.9900	31.7450	31.8827	Chi-X (CXE)	GBP
09/03/2026	11,311	32.0350	31.7100	31.8799	BATS (BXE)	GBP
09/03/2026	94,080	36.9850	36.5950	36.8231	XAMS	EUR
09/03/2026	54,860	36.9950	36.6950	36.8469	CBOE DXE	EUR
09/03/2026	3,529	36.9750	36.6950	36.8135	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_2026-03-09

FAQ

How many shares did Shell (SHEL) repurchase on 09 March 2026?

Shell repurchased 295,391 shares on 09 March 2026. According to the company, trades were executed across multiple venues with aggregated counts shown per venue and VWAPs in GBP and EUR.

What prices did Shell (SHEL) pay per share during the 09 March 2026 buyback?

Shell's reported GBP VWAP was ~31.8800 and EUR VWAPs averaged ~36.82–36.85. According to the company, tabled trades show highest, lowest and VWAP per venue for 09 March 2026.

Is Shell's 09 March 2026 share purchase part of a larger buy-back programme (SHEL)?

Yes. The purchases form part of Shell's buy-back programme announced 05 February 2026. According to the company, Morgan Stanley will trade independently under pre-set programme parameters through 01 May 2026.

Which trading venues were used for Shell's (SHEL) 09 March 2026 share cancellations?

Shell executed trades on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX on 09 March 2026. According to the company, the breakdown lists numbers, prices and VWAPs by venue.

Who executed the buy-back trades for Shell (SHEL) and what authority governs them?

Morgan Stanley & Co. International Plc executed trades independently under the company's repurchase authority. According to the company, the programme complies with UK MAR, EU MAR Delegated Regulation and Chapter 9 of the UK Listing Rules.