Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 3,407,159 shares for cancellation on 19 February 2026 across London and European venues, executed under its buy-back programme announced 05 February 2026. Purchases were made on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX at reported VWAPs in GBP and EUR.

Morgan Stanley & Co. International Plc will continue independent trading under the programme through 01 May 2026 in line with EU MAR/UK MAR and the company’s on- and off-market authorities.

Positive

• Shares repurchased: 3,407,159 on 19 February 2026
• Multi-venue execution: LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE, TQEX
• Independent trading by Morgan Stanley through 01 May 2026

Negative

• None.

News Market Reaction – SHEL

+0.11%

1 alert

+0.11% News Effect

On the day this news was published, SHEL gained 0.11%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares purchased (LSE): 1,162,744 shares VWAP (LSE): £29.3717 per share Shares purchased (Chi-X): 287,946 shares +5 more

8 metrics

Shares purchased (LSE) 1,162,744 shares For cancellation on 19/02/2026, LSE venue

VWAP (LSE) £29.3717 per share Volume weighted average price on 19/02/2026, LSE

Shares purchased (Chi-X) 287,946 shares For cancellation on 19/02/2026, Chi-X (CXE)

VWAP (Chi-X) £29.3280 per share Volume weighted average price on 19/02/2026, Chi-X (CXE)

Shares purchased (BATS) 239,576 shares For cancellation on 19/02/2026, BATS (BXE)

VWAP (BATS) £29.3774 per share Volume weighted average price on 19/02/2026, BATS (BXE)

Shares purchased (XAMS) 1,184,299 shares For cancellation on 19/02/2026, XAMS

VWAP (XAMS) €33.6635 per share Volume weighted average price on 19/02/2026, XAMS

Market Reality Check

Price: $79.78 Vol: Volume 4,643,718 is 0.73x...

normal vol

$79.78 Last Close

Volume Volume 4,643,718 is 0.73x the 20-day average of 6,335,822, indicating quieter-than-normal trading. normal

Technical Price 79.87 is trading above the 200-day MA of 72.36 and 0.82% below the 52-week high of 80.53.

Peers on Argus

SHEL was nearly flat at -0.02% while large peers were mixed: XOM +1.71%, BP +1.0...

SHEL was nearly flat at -0.02% while large peers were mixed: XOM +1.71%, BP +1.00%, PBR +0.79%, CVX +0.35%, and TTE -0.27%. This points to a stock-specific, low-impact reaction to the routine buyback disclosure.

Historical Context

5 past events · Latest: Feb 18 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 18	Daily buyback update	Positive	+2.5%	Reported purchase and cancellation of 61,955 shares under ongoing buy-back.
Feb 17	Daily buyback update	Positive	-1.1%	Disclosed 712,623 shares bought for cancellation across multiple venues.
Feb 16	Daily buyback update	Positive	-1.1%	Announced 1,380,295 shares purchased and cancelled in buy-back programme.
Feb 12	Daily buyback update	Positive	-2.5%	Reported purchase of 1,396,574 shares for cancellation across venues.
Feb 11	Daily buyback update	Positive	+3.0%	Detailed buy-back of 1,278,353 ordinary shares for cancellation.

Pattern Detected

Recent daily buyback disclosures have produced mixed price reactions, with both gains and declines following similar announcements, suggesting limited and inconsistent short-term impact.

Recent Company History

Over the past weeks, Shell has repeatedly reported daily share repurchases and cancellations across European venues as part of its buy-back programme running from 05 February 2026 to 01 May 2026. Individual updates on 11–18 February 2026 detailed purchases typically around 0.6–1.4 million shares per day, executed by Morgan Stanley within preset parameters under EU and UK MAR rules. Price reactions to these structurally similar announcements have alternated between modest gains and declines, indicating no consistent trading pattern tied to these disclosures.

Market Pulse Summary

This announcement details another trading day of Shell’s existing buy-back programme, with shares pu...

Analysis

This announcement details another trading day of Shell’s existing buy-back programme, with shares purchased for cancellation across multiple European venues on 19 February 2026 in both GBP and EUR. It reiterates that Morgan Stanley executes within preset parameters under EU and UK MAR rules through 01 May 2026. Investors may focus on the consistency of daily repurchase volumes, the executed price ranges around £29 and €33, and how these transactions affect overall capital returns.

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 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   

19 February 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 19 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
19/02/2026	1,162,744	29.5800	29.1150	29.3717	LSE	GBP
19/02/2026	287,946	29.5800	29.1150	29.3280	Chi-X (CXE)	GBP
19/02/2026	239,576	29.5800	29.1150	29.3774	BATS (BXE)	GBP
19/02/2026	1,184,299	33.8400	33.3700	33.6635	XAMS	EUR
19/02/2026	479,003	33.8400	33.3700	33.6189	CBOE DXE	EUR
19/02/2026	53,591	33.8150	33.3700	33.5932	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_2026-02-19

FAQ

How many shares did Shell (SHEL) repurchase on 19 February 2026?

Shell repurchased 3,407,159 shares on 19 February 2026. According to the company, trades were split across six trading venues with reported volume-weighted average prices in GBP and EUR.

Which venues did Shell (SHEL) use for the 19 February 2026 buy-back purchases?

The buy-back purchases were executed on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE, and TQEX. According to the company, each venue’s trades and VWAPs are disclosed in the breakdown.

What prices did Shell (SHEL) pay per share on 19 February 2026?

Reported VWAPs were approximately 29.37 GBP on UK venues and 33.66 EUR on European venues. According to the company, the table lists highest, lowest and VWAP per venue for 19 February 2026.

Is Morgan Stanley trading independently for Shell's (SHEL) buy-back programme?

Yes. According to the company, Morgan Stanley & Co. International Plc will make trading decisions independently from 05 February 2026 through 01 May 2026 as part of the programme.

Is Shell's (SHEL) buy-back on-market, off-market, or both?

Both. According to the company, the programme includes on-market purchases within pre-set parameters and off-market purchases under an approved off-market buyback contract.

What regulatory rules govern Shell's (SHEL) 2026 buy-back programme?

The programme operates under EU MAR/UK MAR and Chapter 9 of the UK Listing Rules. According to the company, it also follows the EU MAR Delegated Regulation and relevant onshored UK legislation.