Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased and will cancel 776,817 ordinary shares on 06 March 2026 as part of its ongoing buy-back programme announced 05 February 2026.

The purchases were executed across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX, with Morgan Stanley making independent trading decisions through 01 May 2026.

Positive

• Shares repurchased: 776,817 on 06 March 2026
• Purchases designated for cancellation under the buy-back programme
• Buy-back executed across six trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX)
• Morgan Stanley to trade independently for the programme until 01 May 2026

Negative

• None.

Key Figures

Shares repurchased LSE: 269,086 shares VWAP LSE: 31.2806 GBP Shares repurchased Chi-X: 89,596 shares +5 more

8 metrics

Shares repurchased LSE 269,086 shares On-market buy-back 06/03/2026, LSE, GBP

VWAP LSE 31.2806 GBP Volume weighted average price per share, 06/03/2026

Shares repurchased Chi-X 89,596 shares On-market buy-back 06/03/2026, Chi-X (CXE), GBP

Shares repurchased BATS 43,953 shares On-market buy-back 06/03/2026, BATS (BXE), GBP

Shares repurchased XAMS 211,929 shares On-market buy-back 06/03/2026, XAMS, EUR

Shares repurchased CBOE DXE 133,526 shares On-market buy-back 06/03/2026, CBOE DXE, EUR

Shares repurchased TQEX 28,727 shares On-market buy-back 06/03/2026, TQEX, EUR

Buy-back window 05 Feb 2026 – 01 May 2026 Period in which Morgan Stanley executes buy-back independently

Market Reality Check

Price: $84.70 Vol: Volume 6,445,114 is close...

normal vol

$84.70 Last Close

Volume Volume 6,445,114 is close to the 20-day average of 6,605,949, suggesting typical trading activity ahead of this buy-back disclosure. normal

Technical Price at 82.94 trades above the 200-day MA of 73.15 and sits 1.9% below the 52-week high of 84.5499.

Peers on Argus

SHEL gained 0.29% while momentum names like PBR and EQNR showed stronger upside ...

2 Up

SHEL gained 0.29% while momentum names like PBR and EQNR showed stronger upside moves of about 5%. With limited peers in the scanner and mixed moves across CVX, XOM, TTE, and BP, today’s action appears more company-specific than a broad sector rotation.

Historical Context

5 past events · Latest: Mar 05 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 05	Share buy-back	Positive	+0.3%	Purchase and cancellation of 1,109,500 shares under ongoing buy-back.
Mar 05	PDMR shareholding	Neutral	+0.3%	Vesting of 2023 Long Term Incentive Plan awards to senior management.
Mar 04	Share buy-back	Positive	+0.5%	Repurchase and cancellation of 1,949,746 shares across multiple venues.
Mar 04	PDMR share award	Neutral	+0.5%	Conditional award of 11,269 shares to a senior executive under share plan.
Mar 03	Share buy-back	Positive	-2.2%	Purchase and cancellation of 2,060,266 shares under existing programme.

Pattern Detected

Recent buy-back and management share-deal news has generally coincided with small, mostly positive price reactions, with one notable negative divergence.

Recent Company History

Over the past few days, Shell has repeatedly reported buy-backs and management share-related disclosures. On 03–05 Mar 2026, multiple "Transaction in Own Shares" releases detailed cancellations of between 1.1M and 2.06M shares, while separate Director/PDMR announcements covered incentive awards and vestings. Price reactions around these events have mostly been modestly positive, indicating the market has treated the ongoing capital return and equity-award updates as routine.

Market Pulse Summary

This announcement details another day of Shell’s ongoing share buy-back programme, with purchases ac...

Analysis

This announcement details another day of Shell’s ongoing share buy-back programme, with purchases across LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX under EU MAR and UK MAR rules. Combined with recent disclosures of additional buy-backs and management share awards, it underscores a consistent capital-return framework. Investors may watch aggregate repurchase volumes, execution across venues, and how frequently these transactions are reported through the current window ending 01 May 2026.

Key Terms

buy-back programme, off-market buyback contract, eu mar, uk mar, +1 more

5 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.

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.

eu mar regulatory

"Article 5 of the 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.

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   

06 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 06 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
06/03/2026	269,086	31.5350	30.9650	31.2806	LSE	GBP
06/03/2026	89,596	31.5200	31.0450	31.2974	Chi-X (CXE)	GBP
06/03/2026	43,953	31.5200	30.9900	31.2576	BATS (BXE)	GBP
06/03/2026	211,929	36.4050	35.6900	36.1042	XAMS	EUR
06/03/2026	133,526	36.3450	35.7000	36.0929	CBOE DXE	EUR
06/03/2026	28,727	36.4050	35.7450	36.1283	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_2026-03-06

FAQ

How many shares did Shell (SHEL) repurchase on 06 March 2026?

Shell repurchased 776,817 shares on 06 March 2026. According to Shell, those purchases were executed across multiple venues and will be cancelled under the company's existing buy-back programme announced 05 February 2026.

Will the shares Shell (SHEL) bought on 06 March 2026 be cancelled or held as treasury stock?

The shares bought on 06 March 2026 will be cancelled. According to Shell, the purchases form part of the on- and off-market limbs of its announced buy-back programme and are intended for cancellation.

Which broker executed Shell's (SHEL) buy-back trades and until when will they trade?

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

On which trading venues did Shell (SHEL) execute the 06 March 2026 buy-back trades?

Trades were executed on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE, and TQEX. According to Shell, aggregated trade details and VWAPs are provided per venue for 06 March 2026.

Under what rules was Shell's (SHEL) 06 March 2026 buy-back conducted?

The buy-back was conducted in accordance with Chapter 9 UK Listing Rules and UK MAR. According to Shell, the programme also follows the EU MAR Delegated Regulation as onshored into UK law and applicable statutory instruments.