Transaction in Own Shares

Rhea-AI Summary

Shell (NYSE:SHEL) purchased 712,623 shares for cancellation on 17 February 2026 across multiple trading venues.

Trades were executed on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX with per-share prices ranging from GBP 28.4350 to EUR 33.3750. These purchases form part of the buy-back programme announced 05 February 2026 and will run through 01 May 2026, with Morgan Stanley making independent trading decisions.

Positive

• 712,623 shares repurchased on 17 February 2026
• Multi-venue execution across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX
• Buy-back tied to announced programme dated 05 February 2026
• Independent broker execution by Morgan Stanley through 01 May 2026

Negative

• Highest per-share execution prices reached EUR 33.3750 on XAMS
• On- and off-market purchases continue through 01 May 2026, extending short-term sharecount uncertainty

Key Figures

Shares repurchased LSE: 195,262 shares LSE VWAP: £28.6925 Shares repurchased Chi-X: 90,980 shares +5 more

8 metrics

Shares repurchased LSE 195,262 shares Purchased 17/02/2026 on LSE in GBP

LSE VWAP £28.6925 Volume weighted average price on LSE 17/02/2026

Shares repurchased Chi-X 90,980 shares Purchased 17/02/2026 on Chi-X (CXE) in GBP

Shares repurchased XAMS 228,484 shares Purchased 17/02/2026 on XAMS in EUR

XAMS VWAP €32.9489 Volume weighted average price on XAMS 17/02/2026

Shares repurchased CBOE DXE 144,451 shares Purchased 17/02/2026 on CBOE DXE in EUR

Programme start date 05 February 2026 Start of current buy-back period with Morgan Stanley

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

Market Reality Check

Price: $77.94 Vol: Volume 5,364,747 is below...

normal vol

$77.94 Last Close

Volume Volume 5,364,747 is below the 20-day average of 6,536,666 shares ahead of this buyback update. normal

Technical Price at 78.77 is above the 200-day MA of 72.15 and sits 1.85% below the 52-week high of 80.255.

Peers on Argus

SHEL gained 0.7% while peers were mixed: CVX, TTE, BP and PBR were positive, but...

SHEL gained 0.7% while peers were mixed: CVX, TTE, BP and PBR were positive, but XOM declined 1.39%, pointing to a more stock-specific tone rather than a uniform sector move.

Historical Context

5 past events · Latest: Feb 12 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 12	Share buy-back	Neutral	-2.5%	Disclosure of 1,396,574 shares bought back across multiple venues.
Feb 11	Share buy-back	Neutral	+3.0%	Announcement of 1,278,353 shares repurchased for cancellation.
Feb 10	Share buy-back	Neutral	+0.1%	Update on 1,127,688 shares bought back under ongoing programme.
Feb 10	PDMR share awards	Neutral	+0.1%	Conditional performance share awards to CEO, CFO and executives.
Feb 09	Share buy-back	Neutral	+3.3%	Repurchase of 1,382,252 shares under the 05 Feb 2026 programme.

Pattern Detected

Recent buy-back and governance disclosures in early February 2026 have produced mixed next-day moves, with both gains and declines, suggesting no consistent price pattern around these updates.

Recent Company History

Over 9–12 February 2026, SHEL repeatedly disclosed on‑ and off‑market share repurchases for cancellation under its buy‑back programme announced on 05 February 2026, plus a director/PDMR share award notice. Individual buy-back days saw price reactions ranging from about -2.51% to +3.33%, indicating that similar operational buy-back disclosures have coincided with both positive and negative sessions, without a clear directional bias into today’s additional transaction update.

Market Pulse Summary

This announcement reports another day of on- and off-market repurchases for cancellation on 17 Febru...

Analysis

This announcement reports another day of on- and off-market repurchases for cancellation on 17 February 2026 across several UK and European venues, executed by Morgan Stanley under preset parameters within the buy-back programme running from 05 February 2026 to 01 May 2026. It reinforces an established pattern of capital returns, conducted under UK Listing Rules and EU/UK MAR, without introducing new operational or earnings information that changes the fundamental narrative.

Key Terms

share buy-back programme, on-market, off-market, uk listing rules, +2 more

6 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 financial

"The on-market limb will be effected within certain pre-set parameters..."

On-market describes buying or selling shares directly through a public stock exchange at the current market price, rather than by a private or negotiated deal. Like buying an item from a store at the posted price instead of haggling privately, on-market trades happen quickly, are visible to other investors, and can move the stock price, so they affect liquidity and provide a transparent signal about supply and demand.

off-market financial

"The off-market limb will be effected in accordance with the Company’s general authority to repurchase shares off-market..."

Off-market describes a trade or transfer of securities that happens outside a public exchange, where buyers and sellers negotiate directly or use private arrangements rather than submitting orders on the open market. It matters to investors because these deals can change who controls a company or alter share supply without the usual public price signals, like selling a car privately instead of through a dealership — you may get a different price and the wider market may not immediately react.

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

"...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   

17 February 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 17 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
17/02/2026	195,262	29.0000	28.4450	28.6925	LSE	GBP
17/02/2026	90,980	28.9850	28.4350	28.6935	Chi-X (CXE)	GBP
17/02/2026	35,011	28.9850	28.4500	28.6707	BATS (BXE)	GBP
17/02/2026	228,484	33.3750	32.6150	32.9489	XAMS	EUR
17/02/2026	144,451	33.3600	32.6050	32.9267	CBOE DXE	EUR
17/02/2026	18,435	33.2450	32.6150	32.9005	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_2026-02-17

FAQ

How many shares did Shell (SHEL) repurchase on 17 February 2026?

Shell repurchased 712,623 shares on 17 February 2026. According to Shell, purchases were executed across six venues with individual trade details listed by venue and price.

What prices did Shell (SHEL) pay per share during the 17 February 2026 buyback?

Shell paid per-share prices ranging from GBP 28.4350 to EUR 33.3750. According to Shell, the table lists highest, lowest and volume-weighted average prices per venue.

Is the 17 February 2026 repurchase part of Shell's announced buy-back programme (SHEL)?

Yes, the repurchase is part of Shell's buy-back programme announced on 05 February 2026. According to Shell, the programme includes on- and off-market limbs and pre-set parameters.

Who executed the Shell (SHEL) buyback trades and until when will they trade?

Morgan Stanley & Co. International Plc executed trades independently for Shell and will trade from 05 February 2026 up to and including 01 May 2026, per company disclosure.

Which trading venues did Shell (SHEL) use for the 17 February 2026 share cancellations?

Shell used LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX on 17 February 2026. According to Shell, aggregated trade details are provided by venue with prices and volumes.