Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) purchased 1,287,020 shares for cancellation on 26 February 2026 across six trading venues: LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX. Purchases show GBP VWAPs around £30.07–£30.08 and EUR VWAPs around €34.52–€34.53.

These trades form part of the on- and off-market buy-back programme announced 05 February 2026; Morgan Stanley & Co. International Plc will trade independently for the programme through 01 May 2026. Transactions comply with UK MAR and EU MAR onshored rules.

Positive

• Total shares purchased for cancellation: 1,287,020
• Repurchases executed across 6 venues in GBP and EUR
• Morgan Stanley authorised to trade independently through 01 May 2026

Negative

• Cash outflow executed at VWAPs up to £30.0807 and €34.5306, reducing available liquidity

News Market Reaction – SHEL

-1.34%

1 alert

-1.34% News Effect

On the day this news was published, SHEL declined 1.34%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased LSE: 351,022 shares Shares repurchased XAMS: 377,972 shares VWAP LSE: £30.0762 per share +5 more

8 metrics

Shares repurchased LSE 351,022 shares 26/02/2026, LSE buy-back for cancellation

Shares repurchased XAMS 377,972 shares 26/02/2026, XAMS buy-back for cancellation

VWAP LSE £30.0762 per share 26/02/2026, volume weighted average price on LSE

VWAP Chi-X (CXE) £30.0807 per share 26/02/2026, volume weighted average price on Chi-X

VWAP XAMS €34.5306 per share 26/02/2026, volume weighted average price on XAMS

VWAP CBOE DXE €34.5158 per share 26/02/2026, volume weighted average price on CBOE DXE

Buy-back period start 05 February 2026 Start of current buy-back programme

Buy-back period end 01 May 2026 End of current buy-back programme

Market Reality Check

Price: $84.22 Vol: Volume at 7,041,294 vs 20...

normal vol

$84.22 Last Close

Volume Volume at 7,041,294 vs 20-day average 6,669,484, indicating slightly elevated trading activity. normal

Technical Price 82.28 is trading above 200-day MA of 72.67 and -0.01% from 52-week high 82.29.

Peers on Argus

SHEL is up 1.86% while key peers like CVX (-0.88%), XOM (-0.57%), BP (-0.73%) an...

SHEL is up 1.86% while key peers like CVX (-0.88%), XOM (-0.57%), BP (-0.73%) and TTE (-0.24%) are down, indicating stock-specific strength likely linked to ongoing buy-backs rather than a sector-wide move. PBR is modestly higher at 0.97%.

Historical Context

5 past events · Latest: Feb 25 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 25	Daily share buy-back	Positive	+1.9%	Disclosure of 1,090,750 shares repurchased and cancelled under ongoing programme.
Feb 24	Daily share buy-back	Positive	+1.0%	Report of 1,191,059 shares bought back across multiple venues and currencies.
Feb 23	Daily share buy-back	Positive	+0.2%	Update on 1,028,319 shares repurchased for cancellation across venues.
Feb 20	Daily share buy-back	Positive	-0.8%	Announcement of 1,595,356 shares purchased and cancelled under programme.
Feb 19	Daily share buy-back	Positive	+0.6%	Large 3,407,159-share buy-back disclosure across London and European venues.

Pattern Detected

Recent daily buy-back disclosures have generally coincided with modestly positive price reactions, with one notable negative day.

Recent Company History

Over the last several sessions, Shell has repeatedly reported daily buy-back activity, cancelling between roughly one and over three million shares per day across UK and European venues. These updates, all tied to the programme running from 05 February 2026 through 01 May 2026, have typically seen small positive next-day moves (e.g., +1.86%, +1.01%, +0.64%), with one decline of -0.75%. Today’s announcement continues that ongoing capital return pattern.

Market Pulse Summary

This announcement details another day of on- and off-market repurchases under Shell’s existing buy-b...

Analysis

This announcement details another day of on- and off-market repurchases under Shell’s existing buy-back programme, with venue-level volumes and prices reported in both GBP and EUR. It continues the pattern of daily cancellations observed since early February 2026. The disclosure cites compliance with EU MAR and UK MAR rules and independent execution by Morgan Stanley. Investors may monitor ongoing buy-back volumes, programme timelines, and any changes in broader energy-sector conditions.

Key Terms

share buy-back programme, on-market limb, EU MAR, UK 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.

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

"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.

off-market buyback contract financial

"pursuant to the off-market buyback contract approved by its shareholders..."

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.

AI-generated analysis. Not financial advice.

Transaction in Own Shares   

26 February 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 26 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
26/02/2026	351,022	30.3250	29.7650	30.0762	LSE	GBP
26/02/2026	200,487	30.3250	29.7500	30.0807	Chi-X (CXE)	GBP
26/02/2026	69,215	30.3200	29.7500	30.0690	BATS (BXE)	GBP
26/02/2026	377,972	34.8000	34.1600	34.5306	XAMS	EUR
26/02/2026	246,180	34.7800	34.1600	34.5158	CBOE DXE	EUR
26/02/2026	42,144	34.7850	34.1650	34.5238	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_2026-02-26

FAQ

How many shares did Shell (SHEL) buy back on 26 February 2026?

Shell bought back 1,287,020 shares on 26 February 2026. According to the company, purchases were executed across six venues and recorded for cancellation under the buy-back programme.

What prices did Shell (SHEL) pay for the shares purchased on 26 February 2026?

Shell paid VWAPs around £30.07–£30.08 and €34.51–€34.53. According to the company, each venue's highest, lowest and VWAP figures are listed in the announcement.

Is the 26 February 2026 share repurchase part of Shell's existing buy-back programme (SHEL)?

Yes. The purchases on 26 February 2026 form part of the on- and off-market limbs of the buy-back programme announced on 05 February 2026. According to the company, the programme continues through set parameters.

Who is executing Shell's (SHEL) buy-back trades and until when?

Morgan Stanley & Co. International Plc is making independent trading decisions for the programme through 01 May 2026. According to the company, trades are being made independently of Shell.

Which trading venues were used for Shell's (SHEL) 26 February 2026 purchases?

Trades occurred on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX. According to the company, the breakdown by venue and prices is provided in the disclosure.

Are Shell's (SHEL) repurchases on 26 February 2026 compliant with market rules?

Yes. The company says the buy-back was conducted in accordance with Chapter 9 UK Listing Rules and UK MAR (onshored EU MAR) and the EU MAR Delegated Regulation as applicable.