Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased and cancelled 559,910 shares on 17 March 2026 across six trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX).

These transactions form part of the ongoing buy-back programme announced on 5 February 2026, with Morgan Stanley making independent trading decisions through 1 May 2026.

Positive

• 559,910 shares repurchased and cancelled on 17 March 2026
• Purchases executed across six trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX)
• Repurchases form part of an ongoing buy-back programme announced on 5 February 2026 with broker independence until 1 May 2026

Negative

• None.

Key Figures

LSE shares repurchased: 171,030 shares Chi-X (CXE) shares repurchased: 65,167 shares BATS (BXE) shares repurchased: 31,175 shares +5 more

8 metrics

LSE shares repurchased 171,030 shares On-market buy-back on LSE on 17/03/2026

Chi-X (CXE) shares repurchased 65,167 shares On-market buy-back on Chi-X (CXE) on 17/03/2026

BATS (BXE) shares repurchased 31,175 shares On-market buy-back on BATS (BXE) on 17/03/2026

XAMS shares repurchased 190,656 shares On-market buy-back on XAMS on 17/03/2026

CBOE DXE shares repurchased 80,998 shares On-market buy-back on CBOE DXE on 17/03/2026

TQEX shares repurchased 20,884 shares On-market buy-back on TQEX on 17/03/2026

Max EUR buyback price €40.0900 per share Highest price paid on CBOE DXE on 17/03/2026

Buy-back programme window 05 February 2026–01 May 2026 Period for Morgan Stanley to trade independently

Market Reality Check

Price: $90.48 Vol: Volume 6,102,781 is at 0....

normal vol

$90.48 Last Close

Volume Volume 6,102,781 is at 0.89x the 20-day average of 6,865,015, suggesting no unusual trading activity pre-announcement. normal

Technical Price at 90.48 is trading above the 200-day MA at 73.88, indicating a pre-existing upward trend before this buyback disclosure.

Peers on Argus

SHEL gained 1.17% with large-cap peers mostly positive: CVX +0.12%, XOM +0.79%, ...

SHEL gained 1.17% with large-cap peers mostly positive: CVX +0.12%, XOM +0.79%, BP +0.67%, PBR +1.81%, while TTE slipped -0.13%, pointing to a broadly constructive sector backdrop alongside the buyback.

Common Catalyst Peer TTE also reported a transaction in own shares, indicating concurrent buyback activity among integrated majors.

Historical Context

5 past events · Latest: Mar 16 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 16	Share buyback disclosure	Positive	+1.8%	Daily disclosure of share purchases for cancellation under existing buy-back programme.
Mar 16	Dividend announcement	Positive	+1.8%	Declaration of Q4 2025 dividend equivalents in EUR and GBP with set pay date.
Mar 13	Share buyback disclosure	Positive	+1.2%	Repurchase of 326,683 shares for cancellation across multiple European venues.
Mar 12	Share buyback disclosure	Positive	+1.1%	Additional 336,336 shares bought back for cancellation under February–May 2026 plan.
Mar 12	Annual report filing	Neutral	+1.1%	Filing of 2025 Form 20-F and Annual Report and Accounts with regulators.

Pattern Detected

Recent buyback and capital-return announcements have been followed by consistent positive next-day price reactions.

Recent Company History

Over the past week, Shell has repeatedly disclosed daily share repurchases for cancellation under its buy-back programme, including purchases on 12–16 March 2026. These events, along with the 2025 Form 20-F filing and a fourth quarter 2025 dividend payment of US$0.372 per share, coincided with steady positive 24-hour price reactions between +1.1% and +1.77%. Today’s 17 March transaction in own shares continues this pattern of ongoing capital returns within an already supportive price environment.

Market Pulse Summary

This announcement details further buy-backs under Shell’s share repurchase programme running from 05...

Analysis

This announcement details further buy-backs under Shell’s share repurchase programme running from 05 February 2026 to 01 May 2026, with Morgan Stanley executing trades independently across multiple venues in GBP and EUR. It continues a series of daily disclosures where repurchased shares are cancelled. Investors may contextualize this alongside recent dividend payments and the 2025 Form 20-F filing, while monitoring programme pace, regulatory compliance under EU/UK MAR, and overall Energy sector conditions.

Key Terms

eu mar, uk mar, european union (withdrawal agreement) act 2020, financial services act, 2021

4 terms

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.

european union (withdrawal agreement) act 2020 regulatory

"Act 2018 (as amended by the European Union (Withdrawal Agreement) Act 2020), and as amended"

A UK law that put into force a negotiated exit agreement with the European Union and translated many existing EU rules into domestic law to avoid sudden legal gaps. Think of it as a formal handover and a translation of the prior rulebook so businesses, contracts and regulators had time and legal certainty to adjust. Investors care because it changes which laws apply, affects market access, trade rules and compliance costs for companies.

financial services act, 2021 regulatory

"replaced by the Financial Services Act, 2021 and relevant statutory instruments"

A UK law that updates the rulebook for how financial firms operate, giving regulators clearer powers to oversee markets, protect consumers, and respond to risks. For investors, it matters because it can change how products are sold, how firms are supervised, and how quickly problems are fixed—much like a revised rulebook that aims to make a game fairer and safer for everyone, which affects confidence and the value of investments.

AI-generated analysis. Not financial advice.

Transaction in Own Shares   

17 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 17 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
17/03/2026	171,030	34.6000	34.2050	34.5038	LSE	GBP
17/03/2026	65,167	34.5850	34.2300	34.4936	Chi-X (CXE)	GBP
17/03/2026	31,175	34.6000	34.3800	34.5149	BATS (BXE)	GBP
17/03/2026	190,656	40.0800	39.5850	39.9388	XAMS	EUR
17/03/2026	80,998	40.0900	39.6100	39.9461	CBOE DXE	EUR
17/03/2026	20,884	40.0150	39.7150	39.9312	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_2026-03-17

FAQ

How many shares did Shell (SHEL) buy back on 17 March 2026?

Shell repurchased and cancelled 559,910 shares on 17 March 2026. According to the company, purchases were allocated across six trading venues with venue-level volume weighted average prices disclosed in the announcement.

What trading venues did Shell (SHEL) use for the 17 March 2026 buyback?

Shell executed buybacks on LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX on 17 March 2026. According to the company, the announcement lists each venue with number of shares and VWAP per venue.

Is the 17 March 2026 share buyback part of a larger Shell (SHEL) programme?

Yes. The 17 March 2026 purchases are part of the buy-back programme announced on 5 February 2026. According to the company, Morgan Stanley will trade independently under the programme until 1 May 2026.

Who executed the Shell (SHEL) share purchases under the buy-back programme?

Morgan Stanley & Co. International Plc executed trades independently on behalf of Shell. According to the company, Morgan Stanley will make trading decisions from 5 February 2026 through 1 May 2026.

What prices did Shell (SHEL) pay for shares on 17 March 2026?

Prices varied by venue; venue VWAPs ranged around £34.49 (GBP venues) and €39.93–39.95 (EUR venues). According to the company, the announcement provides highest, lowest and VWAP per venue for 17 March 2026.