Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) bought and cancelled 1,189,832 ordinary shares on 26 March 2026 across UK and European venues. Purchases were executed on LSE, Chi-X, BATS (GBP) and XAMS, CBOE DXE, TQEX (EUR) with VWAPs ~£34.52 and ~€39.94.

The repurchases form part of the on- and off-market buy-back programme running 05 February 2026 to 01 May 2026, with Morgan Stanley making independent trading decisions under pre-set parameters.

Positive

• Purchased and cancelled 1,189,832 shares on 26 March 2026
• Executed across 6 trading venues in GBP and EUR on 26 March 2026
• Volume-weighted average prices: £34.52 (GBP venues) and €39.94 (EUR venues)
• Repurchases conducted under an existing buy-back programme dated 05 Feb–01 May 2026

Negative

• None.

News Market Reaction – SHEL

+0.30%

1 alert

+0.30% News Effect

On the day this news was published, SHEL gained 0.30%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased (LSE): 351,998 shares Highest price (XAMS): €40.1450 Lowest price (XAMS): €39.6750 +5 more

8 metrics

Shares repurchased (LSE) 351,998 shares Purchased for cancellation on 26/03/2026 at LSE in GBP

Highest price (XAMS) €40.1450 Highest price paid per share on XAMS, 26/03/2026

Lowest price (XAMS) €39.6750 Lowest price paid per share on XAMS, 26/03/2026

VWAP (XAMS) €39.9333 Volume-weighted average price per share on XAMS, 26/03/2026

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

Programme end 01 May 2026 Scheduled end date of current buy-back trading period

Current share price $91.88 Pre-news price vs 52-week high $92.95 and low $58.545

Market capitalization $255,875,610,197 Equity value prior to this buy-back disclosure

Market Reality Check

Price: $92.16 Vol: Volume 5,281,299 vs 20-da...

low vol

$92.16 Last Close

Volume Volume 5,281,299 vs 20-day average 8,113,361 suggests trading was lighter than typical ahead of this buy-back update. low

Technical Price at 91.88 sits above the 200-day MA at 74.73, keeping SHEL in a firmly established uptrend and within 1.15% of its 52-week high at 92.95.

Peers on Argus

SHEL was up 0.83% while key peers were mixed: CVX -0.41%, XOM -0.37%, TTE +0.30%...

SHEL was up 0.83% while key peers were mixed: CVX -0.41%, XOM -0.37%, TTE +0.30%, BP +1.29%, PBR +1.90%. The combination of a buy-back disclosure and divergent peer moves points to a stock-specific driver rather than a broad energy-sector move.

Historical Context

5 past events · Latest: 2026-03-25 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
2026-03-25	Daily share buy-back	Neutral	+0.8%	Repurchase of 1,089,316 shares for cancellation under ongoing buy-back.
2026-03-24	Daily share buy-back	Neutral	+0.5%	Repurchase of 430,308 shares across multiple venues within set parameters.
2026-03-23	Large share repurchase	Neutral	+0.3%	Repurchase of 3,208,307 shares for cancellation across GBP and EUR venues.
2026-03-20	Daily share buy-back	Neutral	-0.8%	Repurchase of 1,331,562 shares with VWAPs near GBP 34.38 and EUR 39.74.
2026-03-19	Daily share buy-back	Neutral	-1.7%	Repurchase of 1,578,317 shares under programme running 05 Feb–01 May 2026.

Pattern Detected

Recent buy-back disclosures have been frequent, with SHEL’s next-day moves generally modest and mixed in direction, indicating these routine execution updates have produced small, non-directional price reactions.

Recent Company History

Over the last week, SHEL has issued multiple "Transaction in Own Shares" notices, detailing daily buy-backs for cancellation under the programme running from 05 February 2026 to 01 May 2026. Reported daily volumes ranged from 430,308 to 3,208,307 shares, executed across UK and continental European venues in GBP and EUR, with Morgan Stanley trading independently. Price reactions over the subsequent 24 hours have been modest, with a mix of small gains and declines, suggesting these updates function as routine transparency rather than major catalysts.

Market Pulse Summary

This announcement details another day of share repurchases for cancellation under Shell’s ongoing bu...

Analysis

This announcement details another day of share repurchases for cancellation under Shell’s ongoing buy-back programme, executed across UK and European venues in both GBP and EUR. It sits within a broader pattern of frequent "Transaction in Own Shares" notices since late March 2026, with Morgan Stanley trading independently between 05 February and 01 May 2026. Investors may watch the cumulative repurchase volumes, proximity to the 52-week high, and any shifts in programme parameters in future disclosures.

Key Terms

share buy-back programme, on- and off-market, EU MAR, UK MAR

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.

on- and off-market financial

"These share purchases form part of the on- and off-market limbs of the Company's existing share buy-back programme..."

On-market transactions are trades carried out through a public exchange where buy and sell orders meet and prices are visible to everyone, like shopping at a supermarket with a tagged price. Off-market transactions happen outside the exchange, such as private transfers, negotiated block trades, or direct transfers between parties, more like buying from a neighbor by agreement. Investors care because on-market trades offer price transparency and immediate liquidity, while off-market deals can move ownership without showing up in public price discovery and can affect supply, demand, and disclosure timing.

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 the EU MAR Delegated Regulation 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   

26 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 26 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
26/03/2026	351,998	34.7300	34.2800	34.5221	LSE	GBP
26/03/2026	207,098	34.6650	34.2800	34.5288	Chi-X (CXE)	GBP
26/03/2026	52,843	34.6900	34.2900	34.5139	BATS (BXE)	GBP
26/03/2026	330,149	40.1450	39.6750	39.9333	XAMS	EUR
26/03/2026	197,740	40.1350	39.6900	39.9386	CBOE DXE	EUR
26/03/2026	50,004	40.1050	39.7200	39.9372	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_2026-03-26

FAQ

How many shares did Shell (SHEL) repurchase and cancel on 26 March 2026?

Shell repurchased and cancelled 1,189,832 shares on 26 March 2026. According to the company, purchases were executed across six trading venues in GBP and EUR as part of its ongoing buy-back programme.

What were the average prices Shell (SHEL) paid per share on 26 March 2026?

The volume-weighted average prices were ~£34.52 on GBP venues and ~€39.94 on EUR venues. According to the company, these VWAPs reflect aggregated trades across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX.

Who executed the Shell (SHEL) buybacks and what was their mandate period?

Morgan Stanley & Co. International Plc executed trades independently for Shell under the programme. According to the company, the mandate runs from 05 February 2026 up to and including 01 May 2026 with pre-set trading parameters.

Is the 26 March 2026 buyback part of a larger Shell (SHEL) programme?

Yes. The 26 March purchases form part of Shell's on- and off-market buy-back programme active from 05 Feb to 01 May 2026. According to the company, the programme follows UK MAR and EU MAR onshored rules.

Which trading venues did Shell (SHEL) use for the 26 March 2026 repurchases?

Trades were executed on LSE, Chi-X (CXE), BATS (BXE) in GBP and XAMS, CBOE DXE, TQEX in EUR. According to the company, the breakdown of individual trades is provided per venue for regulatory transparency.

Will Shell (SHEL) continue repurchasing shares after 26 March 2026?

The buy-back programme runs through 01 May 2026, so further purchases may occur within that window. According to the company, future trades will follow the programme's pre-set parameters and applicable market abuse rules.