Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 430,308 shares for cancellation on 24 March 2026 across multiple trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX) in GBP and EUR. Purchases are part of the buy‑back programme announced on 05 February 2026 and were executed by Morgan Stanley & Co. International Plc.

The transactions were effected under the on‑ and off‑market limbs of the existing programme and in accordance with EU MAR and UK MAR; Morgan Stanley will trade independently through 01 May 2026.

Positive

• 430,308 shares repurchased for cancellation on 24 March 2026
• Buy‑back executed across six venues in GBP and EUR, showing multi‑market execution
• Programme active under the buy‑back announced 05 February 2026, continuing through 01 May 2026

Negative

• None.

News Market Reaction – SHEL

+0.45%

1 alert

+0.45% News Effect

On the day this news was published, SHEL gained 0.45%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased LSE: 140,749 Shares repurchased Chi-X: 52,267 Shares repurchased BATS: 14,744 +5 more

8 metrics

Shares repurchased LSE 140,749 24/03/2026 LSE purchases for cancellation

Shares repurchased Chi-X 52,267 24/03/2026 Chi-X (CXE) purchases for cancellation

Shares repurchased BATS 14,744 24/03/2026 BATS (BXE) purchases for cancellation

Shares repurchased XAMS 135,183 24/03/2026 XAMS purchases for cancellation

Shares repurchased CBOE DXE 70,458 24/03/2026 CBOE DXE purchases for cancellation

Shares repurchased TQEX 16,907 24/03/2026 TQEX purchases for cancellation

Highest GBP price LSE 34.3950 Highest price paid per share on LSE 24/03/2026

VWAP EUR XAMS 39.2440 Volume-weighted average price per share on XAMS 24/03/2026

Market Reality Check

Price: $91.88 Vol: Volume 12,989,284 is 1.6x...

high vol

$91.88 Last Close

Volume Volume 12,989,284 is 1.6x the 20-day average of 8,107,461, indicating elevated trading activity before this disclosure. high

Technical Shares at 90.71 are trading above the 200-day MA of 74.49, near the 52-week high of 92.95 and well above the 52-week low of 58.545.

Peers on Argus

SHEL was up 0.3% while key integrated peers showed stronger gains: CVX +3.32%, X...

SHEL was up 0.3% while key integrated peers showed stronger gains: CVX +3.32%, XOM +3.21%, TTE +3.12%, BP +1.41%, PBR +2.83%. This suggests the modest move around the buy-back update was more stock-specific and lagged broader peer strength.

Common Catalyst One peer, TotalEnergies (TTE), also reported transactions in own shares today, indicating ongoing capital return activity among large integrated energy companies.

Historical Context

5 past events · Latest: Mar 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 23	Share buy-back update	Positive	+0.3%	Daily disclosure of 3,208,307 shares repurchased and cancelled under buy-back.
Mar 20	Share buy-back update	Positive	-0.8%	1,331,562 shares repurchased for cancellation across six venues as part of programme.
Mar 19	Share buy-back update	Positive	-1.7%	1,578,317 shares bought back with VWAPs near GBP 34.45 and EUR 39.95.
Mar 19	Operational facilities update	Negative	-1.7%	Qatar LNG production shutdown after incident at Ras Laffan; safety confirmed.
Mar 18	Share buy-back update	Positive	+0.8%	18 March disclosure of 1,618,100 shares repurchased and cancelled under programme.

Pattern Detected

Recent buy-back disclosures have produced mixed short-term reactions, with small positive and negative moves around similar daily repurchase updates.

Recent Company History

Over recent weeks, Shell has issued frequent updates on its ongoing share buy-back programme, detailing daily repurchases and cancellations across UK and European venues with volume-weighted prices around GBP 34–35 and EUR 39–40. These events have led to modest share price moves, both positive and negative, typically within a few percent. Alongside this, a March 19 operational update flagged a temporary LNG shutdown in Qatar. Today’s transaction-in-own-shares notice continues this established pattern of incremental capital return disclosures.

Market Pulse Summary

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

Analysis

This announcement reports another day of on- and off-market share repurchases for cancellation under Shell’s existing programme, with trades executed across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX at volume-weighted prices around GBP 34 and EUR 39. It continues a steady stream of similar disclosures that incrementally reduce share count. Investors may monitor the cumulative pace of buy-backs, any accompanying operational updates, and sector conditions to contextualize these routine transaction reports.

Key Terms

share buy-back programme, off-market buyback contract, 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.

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 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.

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

"...buy-back programmes (“EU MAR”) and EU MAR as “onshored” into UK law from the end of the Brexit transition period..."

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   

24 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 24 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
24/03/2026	140,749	34.3950	33.6300	33.9578	LSE	GBP
24/03/2026	52,267	34.4050	33.6300	33.9510	Chi-X (CXE)	GBP
24/03/2026	14,744	34.3750	33.7550	34.0026	BATS (BXE)	GBP
24/03/2026	135,183	39.6450	38.9550	39.2440	XAMS	EUR
24/03/2026	70,458	39.6100	38.9650	39.2038	CBOE DXE	EUR
24/03/2026	16,907	39.5300	38.9650	39.1651	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_2026-03-24

FAQ

How many shares did Shell (SHEL) repurchase on 24 March 2026?

Shell repurchased 430,308 shares for cancellation on 24 March 2026. According to the company, purchases occurred across six trading venues in GBP and EUR as part of its existing buy‑back programme.

What trading venues were used for Shell's (SHEL) 24 March 2026 buy‑back?

Shell's repurchases on 24 March 2026 were executed on LSE, Chi‑X, BATS, XAMS, CBOE DXE, and TQEX. According to the company, trades were split between GBP and EUR venues under the programme.

Is Shell's (SHEL) 24 March 2026 buy‑back part of a larger programme and what is its timeframe?

Yes. The purchases are part of the buy‑back programme announced on 05 February 2026, with Morgan Stanley trading independently for the programme through 01 May 2026, according to the company.

Who executed the Shell (SHEL) share purchases on 24 March 2026 and did they act independently?

Morgan Stanley & Co. International Plc executed the trades and will make trading decisions independently of Shell through 01 May 2026. According to the company, this independence applies to the programme's trading period.

Were the shares purchased by Shell (SHEL) on 24 March 2026 cancelled or retained?

The shares repurchased on 24 March 2026 were purchased for cancellation. According to the company, these purchases form part of the on‑ and off‑market limbs of the existing buy‑back programme.