Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 1,867,329 shares for cancellation on 15 April 2026 across multiple trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX).

Purchases show GBP volume-weighted average prices ~£33.687 and EUR VWAPs ~€38.75. Transactions form part of the buy-back programme running from 05 Feb 2026 to 01 May 2026, with Morgan Stanley making independent trading decisions.

Positive

• Purchased 1,867,329 shares for cancellation on 15 April 2026
• Executed across six venues in GBP and EUR
• Trades carried out under existing buy-back programme (05 Feb–01 May 2026)

Negative

• Purchase prices reached up to £33.89 and €38.985, representing cash outflow

Key Figures

LSE shares repurchased: 609,540 shares Chi-X shares repurchased: 227,606 shares BATS shares repurchased: 100,017 shares +5 more

8 metrics

LSE shares repurchased 609,540 shares On-market buy-back, LSE, 15/04/2026

Chi-X shares repurchased 227,606 shares On-market buy-back, Chi-X (CXE), 15/04/2026

BATS shares repurchased 100,017 shares On-market buy-back, BATS (BXE), 15/04/2026

XAMS shares repurchased 519,423 shares On-market buy-back, XAMS, 15/04/2026

CBOE DXE shares repurchased 336,550 shares On-market buy-back, CBOE DXE, 15/04/2026

TQEX shares repurchased 74,193 shares On-market buy-back, TQEX, 15/04/2026

Max EUR price €38.9850 per share Highest price paid on 15/04/2026 across EUR venues

GBP VWAP (LSE) £33.6872 per share Volume-weighted average price, LSE, 15/04/2026

Market Reality Check

Price: $89.84 Vol: Volume 5,965,954 vs 20-da...

normal vol

$89.84 Last Close

Volume Volume 5,965,954 vs 20-day average 8,463,662, indicating lighter-than-normal trading activity. normal

Technical Shares trade above the 200-day MA, with price at 91.36 versus 200-day MA of 76.13.

Peers on Argus

SHEL fell 1.34% while key integrated peers also declined: CVX -0.86%, XOM -0.55%...

SHEL fell 1.34% while key integrated peers also declined: CVX -0.86%, XOM -0.55%, TTE -1.95%, BP -0.92%, PBR -2.69%, pointing to broader energy sector weakness.

Historical Context

5 past events · Latest: Apr 13 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 13	Share buy-back	Positive	+0.4%	Disclosure of 747,124 shares repurchased for cancellation under buy-back programme.
Apr 13	AGM notice	Neutral	+0.4%	Publication of 2026 AGM notice with hybrid meeting details and voting options.
Apr 08	Share buy-back	Positive	-2.3%	Announcement of 4,450,454 shares repurchased for cancellation across multiple venues.
Apr 08	Q1 2026 update	Negative	-2.3%	Q1 2026 outlook update citing large working capital swings and conflict uncertainty.
Apr 07	Share buy-back	Positive	+0.5%	Disclosure of 1,279,747 shares repurchased for cancellation under ongoing buy-back.

Pattern Detected

Recent buy-back disclosures often saw modest positive reactions, though one coincided with a broader decline.

Recent Company History

Over recent months, Shell has repeatedly disclosed on- and off-market share repurchases for cancellation under structured buy-back programmes, with trades executed independently by banks such as Morgan Stanley and BNP Paribas. Recent buy-back updates on 07 Apr 2026, 08 Apr 2026 and 13 Apr 2026 showed mixed price reactions, including both modest gains and a -2.27% move. A Q1 2026 update on 08 Apr 2026 highlighted higher refining margins but significant working capital swings and geopolitical uncertainty. Today’s announcement continues this pattern of systematic capital returns via buy-backs.

Market Pulse Summary

This announcement details another day of on- and off-market repurchases for cancellation under Shell...

Analysis

This announcement details another day of on- and off-market repurchases for cancellation under Shell’s existing share buy-back programme, executed across several UK and EU venues at volume-weighted prices around £33–34 and €38–39. It reinforces ongoing capital return rather than introducing new strategic information. Historical filings show similar MAR-compliant programmes handled by banks under preset parameters. Investors tracking this theme may watch cumulative shares cancelled, upcoming Q1 2026 results on 07 May 2026, and any changes to future buy-back authorisations.

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 ... 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"

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 ... as “onshored” into UK law ... from time to time (“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   

15 April 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 15 April 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
15/04/2026	609,540	33.8900	33.4950	33.6872	LSE	GBP
15/04/2026	227,606	33.8900	33.4950	33.6874	Chi-X (CXE)	GBP
15/04/2026	100,017	33.8700	33.4950	33.6916	BATS (BXE)	GBP
15/04/2026	519,423	38.9850	38.5250	38.7571	XAMS	EUR
15/04/2026	336,550	38.9850	38.5300	38.7550	CBOE DXE	EUR
15/04/2026	74,193	38.9850	38.5350	38.7530	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_2026-04-15

FAQ

What did Shell (SHEL) announce on 15 April 2026 about share purchases?

Shell announced it purchased 1,867,329 shares for cancellation on 15 April 2026. According to the company, purchases occurred across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX as part of the ongoing buy-back programme.

How many shares did Shell (SHEL) buy on 15 April 2026 and for cancellation?

Shell bought a total of 1,867,329 shares on 15 April 2026 for cancellation. According to the company, the aggregated purchases are broken down by trading venue and recorded in the announcement.

What prices did Shell (SHEL) pay per share on 15 April 2026?

Shell's reported VWAPs were approximately £33.687 (GBP venues) and €38.75 (EUR venues) on 15 April 2026. According to the company, highest prices paid reached £33.89 and €38.985 across the listed venues.

Is the 15 April 2026 purchase part of Shell's existing buy-back programme (SHEL)?

Yes. The purchases on 15 April 2026 form part of Shell's buy-back programme announced on 05 February 2026. According to the company, Morgan Stanley will make independent trading decisions through 01 May 2026.

When does Shell's current buy-back programme (SHEL) run and who executes trades?

The programme runs from 05 February 2026 up to and including 01 May 2026. According to the company, Morgan Stanley & Co. International Plc will make trading decisions independently on behalf of Shell.