Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 1,578,317 shares for cancellation on 19 March 2026 across multiple trading venues. Aggregated volume-weighted average prices were ~GBP 34.45 on UK venues and ~EUR 39.95 on continental European venues. Purchases form part of the buy-back programme running 05 February–01 May 2026.

Transactions were executed on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX, with Morgan Stanley & Co. International Plc trading independently under pre-set parameters and applicable EU MAR/UK MAR rules.

Positive

• 1,578,317 shares purchased for cancellation on 19 March 2026
• Trades executed across 6 venues (LSE, CXE, BXE, XAMS, DXE, TQEX)

Negative

• None.

News Market Reaction – SHEL

-1.68%

1 alert

-1.68% News Effect

On the day this news was published, SHEL declined 1.68%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares bought LSE: 477,408 shares Shares bought Chi-X: 229,439 shares Shares bought BATS: 101,816 shares +5 more

8 metrics

Shares bought LSE 477,408 shares Repurchased on 19/03/2026, LSE, for cancellation

Shares bought Chi-X 229,439 shares Repurchased on 19/03/2026, Chi-X (CXE), for cancellation

Shares bought BATS 101,816 shares Repurchased on 19/03/2026, BATS (BXE), for cancellation

Shares bought XAMS 445,101 shares Repurchased on 19/03/2026, XAMS, for cancellation

Shares bought CBOE DXE 271,362 shares Repurchased on 19/03/2026, CBOE DXE, for cancellation

Shares bought TQEX 53,191 shares Repurchased on 19/03/2026, TQEX, for cancellation

Highest price EUR venue €40.3500 Highest price paid on XAMS 19/03/2026

VWAP LSE £34.4528 Volume weighted average price on LSE 19/03/2026

Market Reality Check

Price: $90.42 Vol: Volume 7,592,243 vs 20-da...

normal vol

$90.42 Last Close

Volume Volume 7,592,243 vs 20-day average 7,070,446 (relative volume 1.07). normal

Technical Price 92.75 is trading above 200-day MA 74.14, near 52-week high 92.95.

Peers on Argus

SHEL was up 0.85% while large peers were mixed: CVX -0.3%, XOM -1.3%, TTE -0.47%...

4 Up

SHEL was up 0.85% while large peers were mixed: CVX -0.3%, XOM -1.3%, TTE -0.47%, BP +0.59%, PBR +0.82%. Momentum scanner flagged other energy names (CVE, EQNR, TTE, BP) moving up, but scanner data does not show SHEL in the same-direction group.

Historical Context

5 past events · Latest: Mar 18 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 18	Share buy-back update	Positive	+0.8%	1,618,100 shares purchased and cancelled under ongoing buy-back programme.
Mar 17	Share buy-back update	Positive	+1.6%	559,910 shares repurchased and cancelled across six trading venues.
Mar 16	Share buy-back update	Positive	+1.8%	UK and EU venue buy-backs with VWAPs near £34.06 and €39.43.
Mar 16	Dividend details	Positive	+1.8%	Q4 2025 interim dividend set at US$0.372 per share with FX equivalents.
Mar 13	Share buy-back update	Positive	+1.2%	326,683 shares bought for cancellation under February–May 2026 programme.

Pattern Detected

Recent buy-back and dividend announcements have been followed by positive 24h price reactions.

Recent Company History

Over the past week, Shell reported multiple daily "Transaction in Own Shares" updates and a Q4 2025 dividend detail. Buy-back disclosures on 13–18 March 2026 showed repeated share cancellations across UK and European venues, with Morgan Stanley executing under the programme running from 05 February to 01 May 2026. A dividend release on 16 March 2026 set the Q4 2025 interim dividend at US$0.372 per share with euro and sterling equivalents. Each of these events saw positive next-day price moves between 0.85% and 1.77%.

Market Pulse Summary

This announcement details additional repurchases for cancellation under Shell’s buy-back programme r...

Analysis

This announcement details additional repurchases for cancellation under Shell’s buy-back programme running from 05 February to 01 May 2026, with venue-level volumes and prices in GBP and EUR. It follows several similar daily disclosures and a Q4 2025 dividend of US$0.372 per share. Investors may watch cumulative buy-back volumes, the programme’s end-date, and future capital return decisions alongside broader energy-sector developments and 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 596/2014/EU..."

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   

19 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 19 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
19/03/2026	477,408	34.8550	34.1250	34.4528	LSE	GBP
19/03/2026	229,439	34.7600	34.1100	34.4543	Chi-X (CXE)	GBP
19/03/2026	101,816	34.7150	34.1600	34.4662	BATS (BXE)	GBP
19/03/2026	445,101	40.3500	39.4850	39.9507	XAMS	EUR
19/03/2026	271,362	40.2650	39.5100	39.9338	CBOE DXE	EUR
19/03/2026	53,191	40.2350	39.5200	39.9043	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_2026-03-19

FAQ

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

Shell repurchased 1,578,317 shares on 19 March 2026. According to the company, those shares were bought for cancellation across multiple trading venues under its ongoing buy-back programme.

What price levels did Shell (SHEL) pay for the shares on 19 March 2026?

Shell's trades showed VWAPs of roughly GBP 34.45 and EUR 39.95 on 19 March 2026. According to the company, highest and lowest trade prices per venue are disclosed in the aggregated table.

Is the 19 March 2026 buy-back part of a larger Shell (SHEL) programme?

Yes. The purchases form part of Shell's buy-back programme active from 05 February to 01 May 2026. According to the company, the programme includes both on-market and off-market limbs under pre-set parameters.

Which broker executed Shell's (SHEL) buy-back trades on 19 March 2026?

Morgan Stanley & Co. International Plc executed the trades independently for Shell. According to the company, Morgan Stanley traded under pre-set parameters between 05 February and 01 May 2026.

On which trading venues did Shell (SHEL) execute the 19 March 2026 purchases?

Shell executed purchases on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX. According to the company, the aggregated breakdown by venue is provided for 19 March 2026.

Were the shares repurchased by Shell (SHEL) cancelled or held as treasury stock?

The repurchased shares were bought for cancellation on 19 March 2026. According to the company, the announcement specifies that the shares purchased that day are to be cancelled.