Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) announces it purchased shares for cancellation on 16 March 2026 under its existing buy-back programme. Aggregated per-venue trades: 389,252 shares on LSE/Chi-X/BATS at ~£34.06 VWAPs and 477,731 shares on XAMS/CBOE/TQEX at ~€39.43 VWAPs.

The purchases form part of the on- and off-market limbs of the programme running 05 February–01 May 2026, executed by Morgan Stanley & Co. International Plc and conducted under UK MAR/EU MAR rules.

Positive

• 866,983 shares purchased for cancellation on 16 March 2026
• Buy-back executed across multiple venues (LSE, Chi-X, BATS, XAMS, CBOE, TQEX)
• Programme active under authority through 01 May 2026 with independent broker execution

Negative

• None.

News Market Reaction – SHEL

+1.77%

1 alert

+1.77% News Effect

On the day this news was published, SHEL gained 1.77%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

LSE shares bought: 277,041 shares Chi-X shares bought: 76,637 shares BATS shares bought: 35,574 shares +5 more

8 metrics

LSE shares bought 277,041 shares 16/03/2026 buyback, LSE line, for cancellation

Chi-X shares bought 76,637 shares 16/03/2026 buyback, Chi-X (CXE), for cancellation

BATS shares bought 35,574 shares 16/03/2026 buyback, BATS (BXE), for cancellation

XAMS shares bought 291,223 shares 16/03/2026 buyback, XAMS, for cancellation

CBOE DXE shares bought 149,870 shares 16/03/2026 buyback, CBOE DXE, for cancellation

TQEX shares bought 36,638 shares 16/03/2026 buyback, TQEX, for cancellation

Programme start 05 February 2026 Buy-back programme window start date

Programme end 01 May 2026 Buy-back programme window end date

Market Reality Check

Price: $91.88 Vol: Volume 2,297,020 is at 0....

low vol

$91.88 Last Close

Volume Volume 2,297,020 is at 0.34x the 20-day average 6,677,948, indicating light trading versus recent norms. low

Technical Price at 89.43 is trading above the 200-day MA of 73.89, reflecting a pre-existing upward trend before this buyback update.

Peers on Argus

SHEL was up 1.77% while large peers showed only marginal moves: CVX +0.11%, XOM ...

SHEL was up 1.77% while large peers showed only marginal moves: CVX +0.11%, XOM +0.08%, BP +0.07%, with TTE -0.27% and PBR -1.38%. This points to a stock-specific move rather than a broad sector rotation.

Historical Context

5 past events · Latest: Mar 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 12	Share buyback update	Positive	+1.1%	Reported 336,336 shares repurchased for cancellation under ongoing buy-back.
Mar 12	Regulatory filing	Neutral	+1.1%	Filed 2025 Form 20-F and made annual report available to investors.
Mar 12	Annual report release	Neutral	+1.1%	Published 2025 Annual Report and Accounts and set AGM date.
Mar 11	Share buyback update	Positive	+2.7%	Detailed multi-venue share purchases with GBP and EUR VWAPs under programme.
Mar 09	Share buyback update	Positive	+1.1%	Disclosed 295,391 shares repurchased across venues with stated VWAPs.

Pattern Detected

Recent buyback and reporting disclosures have coincided with consistently positive next-day price reactions, suggesting the market has been receptive to these updates.

Recent Company History

Over recent days, Shell has repeatedly reported share repurchases for cancellation under its buy-back programme, including activity on 09 March 2026, 11 March 2026, and 12 March 2026, each followed by gains between 1.05% and 2.69%. The company also filed its 2025 Form 20-F and published the 2025 Annual Report and Accounts on 12 March 2026, which likewise saw a positive 1.1% reaction. Today’s additional buyback disclosure extends this pattern of capital-return and reporting updates.

Market Pulse Summary

This announcement reports further repurchases of Shell’s shares for cancellation on 16 March 2026 ac...

Analysis

This announcement reports further repurchases of Shell’s shares for cancellation on 16 March 2026 across multiple UK and EU trading venues, under the buy-back programme in place from 05 February 2026 to 01 May 2026. Recent history shows repeated disclosures of similar activity alongside regulatory filings such as the 2025 Form 20-F. Investors may track ongoing buy-back volumes, execution venues, programme timelines, and future regulatory updates to understand how capital returns fit within Shell’s broader equity profile.

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 regulatory

"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..."

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”)..."

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

"...and the EU MAR Delegated Regulation as “onshored” into UK law ... (“UK MAR”)..."

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   

16 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 16 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
16/03/2026	277,041	34.2000	33.7700	34.0603	LSE	GBP
16/03/2026	76,637	34.2000	33.7750	34.0504	Chi-X (CXE)	GBP
16/03/2026	35,574	34.2000	33.7800	34.0774	BATS (BXE)	GBP
16/03/2026	291,223	39.6000	39.1050	39.4344	XAMS	EUR
16/03/2026	149,870	39.6000	39.0900	39.4216	CBOE DXE	EUR
16/03/2026	36,638	39.6000	39.0900	39.4051	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_2026-03-16

FAQ

How many Shell (SHEL) shares were bought and cancelled on 16 March 2026?

Shell purchased 866,983 shares for cancellation on 16 March 2026. According to the company, trades were split between GBP venues (389,252 shares) and EUR venues (477,731 shares).

What prices did Shell (SHEL) pay for shares on 16 March 2026?

Trades showed GBP VWAPs around £34.06 and EUR VWAPs around €39.43 on 16 March 2026. According to the company, those VWAPs reflect aggregated venue-level execution.

Who executed the Shell (SHEL) buy-back trades and what is the programme timeline?

Morgan Stanley & Co. International Plc executed the trades independently under the programme. According to the company, the programme runs from 05 February to 01 May 2026.

Are the 16 March 2026 share purchases part of an on-market or off-market buy-back for SHEL?

The purchases form part of both the on‑market and off‑market limbs of the buy-back programme. According to the company, each limb follows pre-set parameters and shareholder-approved authorities.

Which venues did Shell (SHEL) use for the 16 March 2026 share repurchases?

Shell used multiple venues: LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX on 16 March 2026. According to the company, venue-level breakdowns and prices are provided in the trade table.