Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 858,749 ordinary shares for cancellation on 02 April 2026 across six trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX). Prices ranged by venue with GBP VWAPs ~35.45 and EUR VWAPs ~40.62.

The purchases form part of the on- and off-market limbs of the existing buy-back programme running from 05 February 2026 up to and including 01 May 2026, with Morgan Stanley & Co. International Plc making independent trading decisions for that period.

Positive

• 858,749 shares repurchased for cancellation on 02 April 2026
• Buy-back executed across six trading venues in GBP and EUR
• Repurchases conducted under an approved on- and off-market programme (05 Feb–01 May 2026)
• Morgan Stanley executing trades independently on behalf of the company

Negative

• No single total consideration disclosed for the aggregate purchases in the announcement
• Buy-back window limited to purchases made up to and including 01 May 2026

News Market Reaction – SHEL

+1.16%

1 alert

+1.16% News Effect

On the day this news was published, SHEL gained 1.16%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased LSE: 240,241 shares VWAP LSE: £35.4495 per share Shares repurchased XAMS: 271,491 shares +5 more

8 metrics

Shares repurchased LSE 240,241 shares Purchased for cancellation on 02/04/2026 on LSE

VWAP LSE £35.4495 per share Volume weighted average price on LSE 02/04/2026

Shares repurchased XAMS 271,491 shares Purchased for cancellation on 02/04/2026 on XAMS

VWAP XAMS €40.6460 per share Volume weighted average price on XAMS 02/04/2026

Programme start 05 February 2026 Start of current share buy-back programme

Programme end 01 May 2026 Scheduled end of current share buy-back programme

Brexit transition end time 11:00 pm on 31 December 2020 Time when EU MAR rules were onshored into UK law

Regulation citation Market Abuse Regulation 596/2014/EU Framework governing the buy-back programme

Market Reality Check

Price: $92.60 Vol: Volume 15,419,220 is 77% ...

high vol

$92.60 Last Close

Volume Volume 15,419,220 is 77% above the 20-day average of 8,707,207, indicating elevated trading activity ahead of this disclosure. high

Technical Price at 92.03 is trading above the 200-day MA of 75.27 and 3.02% below the 52-week high of 94.90.

Peers on Argus

SHEL fell 1.04% while large integrated peers also declined (e.g., CVX -2.3%, XOM...

SHEL fell 1.04% while large integrated peers also declined (e.g., CVX -2.3%, XOM -3.01%, BP -1.95%), suggesting broader energy softness rather than a buyback-specific move.

Common Catalyst Same-day peer headlines include a CVX earnings call advisory and TTE corporate updates, but price reactions to these peer stories are not provided, and no single common sector catalyst is evident from the data.

Historical Context

5 past events · Latest: Apr 01 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 01	Share buy-back update	Positive	-1.0%	Announcement of 2,379,170 shares repurchased and cancelled under ongoing buy-back.
Mar 31	Share buy-back update	Positive	+0.3%	Disclosure of 1,337,682 shares repurchased for cancellation under buy-back.
Mar 31	Voting rights update	Neutral	+0.3%	Update on total voting rights and share capital as of 31 March 2026.
Mar 30	Share buy-back update	Positive	+0.6%	Report of 472,613 shares purchased for cancellation across multiple venues.
Mar 27	Share buy-back update	Positive	+0.0%	Disclosure of 1,558,275 shares bought and cancelled under the programme.

Pattern Detected

Recent buy-back announcements have generally coincided with modestly positive or flat next-day moves, with one notable divergence where a buy-back update preceded a -1.04% decline.

Recent Company History

Over late March and early April 2026, Shell has repeatedly reported daily on- and off-market share repurchases for cancellation under its buy-back programme running from 05 February 2026 to 01 May 2026. Disclosures on 27, 30, 31 March and 1 April 2026 detail purchases across UK and European venues in GBP and EUR, with Morgan Stanley executing independently. A separate 31 March 2026 notice confirmed total voting rights and capital. Today’s transaction update continues this pattern of steady capital return and transparent reporting.

Market Pulse Summary

This announcement details another day of on- and off-market share repurchases for cancellation under...

Analysis

This announcement details another day of on- and off-market share repurchases for cancellation under Shell’s buy-back programme running from 05 February to 01 May 2026. It reinforces a pattern of regular capital return disclosures and strict adherence to UK MAR and EU MAR rules. In context, investors may track cumulative buy-back volumes, execution prices in GBP and EUR, and how these updates intersect with broader energy sector conditions and prior regulatory filings.

Key Terms

share buy-back programme, off-market buyback contract, uk listing rules, eu mar, +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.

off-market buyback contract financial

"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..."

An off-market buyback contract is an agreement where a company agrees to repurchase its shares directly from a specific investor or group of investors, outside of the regular stock exchange or public trading. This allows the company to buy back shares privately, often at a negotiated price, which can influence the company's stock value and impact investor holdings. Such contracts matter to investors because they can affect the supply of shares and the company's financial strategy.

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”) 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.

market abuse (amendment) (eu exit) regulations (si 2019/310) regulatory

"including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time."

A set of UK rules that update the law on insider trading, market manipulation and related disclosure duties to reflect the country’s departure from the EU. It is essentially an updated rulebook that keeps enforcement powers, reporting requirements and protections for honest investors working smoothly after the legal change; investors care because it clarifies what behaviour is illegal, how markets stay fair, and what companies must disclose.

AI-generated analysis. Not financial advice.

Transaction in Own Shares      

02 April 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 02 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
02/04/2026	240,241	35.8400	35.0850	35.4495	LSE	GBP
02/04/2026	121,875	35.8350	35.0900	35.4705	Chi-X (CXE)	GBP
02/04/2026	42,948	35.8350	35.0950	35.4714	BATS (BXE)	GBP
02/04/2026	271,491	41.0750	40.2250	40.6460	XAMS	EUR
02/04/2026	138,990	41.0750	40.2650	40.6236	CBOE DXE	EUR
02/04/2026	43,204	41.0350	40.2200	40.6193	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_2026-04-02

FAQ

How many shares did Shell (SHEL) buy back on 02 April 2026?

Shell repurchased 858,749 shares on 02 April 2026. According to the company, this total is the sum of six trades executed across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX.

What price ranges did Shell (SHEL) pay for shares on 02 April 2026?

Prices varied by venue, with GBP VWAPs around 35.45 and EUR VWAPs around 40.62. According to the company, highest and lowest trade prices per venue are listed in the announcement.

Is Shell’s 02 April 2026 buy-back part of a larger programme (SHEL)?

Yes. The purchases form part of Shell’s on- and off-market buy-back programme running from 05 February 2026 to 01 May 2026. According to the company, the programme operates within preset parameters and regulatory rules.

Who executed Shell’s share repurchases on 02 April 2026 (SHEL)?

Morgan Stanley & Co. International Plc executed the trades independently for Shell. According to the company, Morgan Stanley will make trading decisions for the programme until and including 01 May 2026.

Which trading venues handled Shell’s 02 April 2026 buy-back (SHEL)?

Trades were executed on LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX. According to the company, the breakdown of individual trades and venue-specific prices is provided in the announcement.