Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 1,165,886 shares for cancellation on 20 April 2026 under its buy-back programme. Purchases occurred across multiple venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX) at volume-weighted average prices of ~GBP 32.70 and ~EUR 37.57.

The buy-back runs from 05 February 2026 up to and including 01 May 2026, with Morgan Stanley making independent trading decisions within pre-set parameters and regulatory frameworks (UK MAR/EU MAR).

Positive

• Shares repurchased: 1,165,886 on 20 April 2026
• Buy-back programme active through 01 May 2026
• Executed across 6 trading venues (LSE, CXE, BXE, XAMS, DXE, TQEX)

Negative

• None.

News Market Reaction – SHEL

+0.22%

1 alert

+0.22% News Effect

On the day this news was published, SHEL gained 0.22%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

LSE shares purchased: 401,469 shares LSE VWAP: 32.6944 GBP Chi-X shares purchased: 142,783 shares +5 more

8 metrics

LSE shares purchased 401,469 shares On-market buy-back at LSE on 20/04/2026

LSE VWAP 32.6944 GBP Volume weighted average price on 20/04/2026

Chi-X shares purchased 142,783 shares On-market buy-back at Chi-X (CXE) on 20/04/2026

Chi-X VWAP 32.7031 GBP Volume weighted average price on 20/04/2026

XAMS shares purchased 337,498 shares On-market buy-back at XAMS on 20/04/2026

XAMS VWAP 37.5689 EUR Volume weighted average price on 20/04/2026

Programme start date 05 February 2026 Start of current buy-back trading window

Programme end date 01 May 2026 End of Morgan Stanley trading period

Market Reality Check

Price: $88.00 Vol: Volume 11,058,587 is 1.34...

normal vol

$88.00 Last Close

Volume Volume 11,058,587 is 1.34x the 20-day average of 8,248,921, indicating elevated trading activity before this disclosure. normal

Technical Price at 87.81 is trading above the 200-day MA of 76.41, despite a -4.03% move over the prior session.

Peers on Argus

While SHEL fell -4.03%, key peers like CVX (+1.15%), XOM (+1.09%), TTE (+0.82%) ...

While SHEL fell -4.03%, key peers like CVX (+1.15%), XOM (+1.09%), TTE (+0.82%) and PBR (+0.84%) were up, with BP roughly flat (-0.04%). This points to stock-specific pressure rather than a broad Energy sector move.

Historical Context

5 past events · Latest: Apr 16 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 16	Share buy-back update	Positive	+1.9%	Disclosure of 1,620,931 shares repurchased for cancellation across multiple venues.
Apr 15	Share buy-back update	Positive	-1.7%	Announcement of 1,867,329 shares repurchased under the ongoing buy-back programme.
Apr 13	Share buy-back update	Positive	+0.4%	Update on 747,124 shares bought back for cancellation under existing programme.
Apr 13	AGM notice	Neutral	+0.4%	Publication of 2026 AGM notice and meeting details for shareholders.
Apr 08	Share buy-back update	Positive	-2.3%	Report of 4,450,454 shares repurchased across venues as part of buy-back.

Pattern Detected

Recent buy-back disclosures have produced mixed reactions, with both gains and declines following similar transaction updates.

Recent Company History

Over recent weeks, Shell has repeatedly reported on-market and off-market share repurchases for cancellation under its ongoing buy-back programme announced on 05 February 2026. Disclosures on 08 April, 13 April, 15 April, and 16 April 2026 each detailed multi-venue purchases in GBP and EUR, with varied next-day price moves, both positive and negative. A separate Notice of AGM on 13 April 2026 outlined the 2026 annual meeting logistics. Today’s further buy-back update continues this pattern of capital return communication without introducing a new programme.

Market Pulse Summary

This announcement details further on- and off-market repurchases for cancellation under Shell’s exis...

Analysis

This announcement details further on- and off-market repurchases for cancellation under Shell’s existing buy-back programme running from 05 February 2026 to 01 May 2026, executed independently by Morgan Stanley. It reinforces an ongoing capital return framework rather than launching a new initiative. Investors may track the scale of daily purchases, venue-level prices in GBP and EUR, and future regulatory filings to understand how consistently Shell applies this buy-back strategy over time.

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"

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"

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

"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   

20 April 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 20 April 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
20/04/2026	401,469	32.9300	32.4550	32.6944	LSE	GBP
20/04/2026	142,783	32.9150	32.4550	32.7031	Chi-X (CXE)	GBP
20/04/2026	51,787	32.9150	32.4550	32.7063	BATS (BXE)	GBP
20/04/2026	337,498	37.8100	37.2850	37.5689	XAMS	EUR
20/04/2026	199,649	37.8050	37.2850	37.5668	CBOE DXE	EUR
20/04/2026	32,700	37.8050	37.3950	37.5694	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_2026-04-20

FAQ

How many shares did Shell (SHEL) buy back on 20 April 2026?

Shell repurchased 1,165,886 shares on 20 April 2026. According to the company, purchases across LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX were made for cancellation as part of the existing buy-back programme.

What are the average prices Shell (SHEL) paid for the shares on 20 April 2026?

Average prices were approximately GBP 32.70 and EUR 37.57 per share. According to the company, volume-weighted average prices are listed per venue reflecting mixed GBP and EUR executions.

When does Shell's (SHEL) current buy-back programme end?

The buy-back programme runs up to and including 01 May 2026. According to the company, trading began under the programme on 05 February 2026 and follows preset parameters and regulatory rules.

Who executed the Shell (SHEL) share repurchases and how were trades made?

Morgan Stanley executed the trades and will make independent trading decisions. According to the company, Morgan Stanley acted within pre-set parameters on behalf of Shell under the on- and off-market limbs of the programme.

Which trading venues did Shell (SHEL) use for the 20 April 2026 buy-backs?

Shell used LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE, and TQEX. According to the company, purchases were aggregated by venue and reported with highest, lowest, and VWAP per venue.