Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased and cancelled 1,109,500 shares on 05 March 2026 across six trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX).

The buybacks form part of the on- and off-market limbs of the existing buy-back programme announced 05 February 2026, managed independently by Morgan Stanley from 05 February 2026 to 01 May 2026, and conducted under UK MAR/EU MAR rules.

Positive

• 1,109,500 shares purchased and cancelled on 05 March 2026
• Repurchases executed across six trading venues in GBP and EUR
• Morgan Stanley made independent trading decisions under the buy-back programme
• Buyback conducted inside regulatory frameworks: UK MAR/EU MAR

Negative

• Shares purchased for cancellation reduce issued share count and available float
• Repurchases executed in both GBP and EUR may create currency and execution price dispersion

Key Figures

Shares repurchased (LSE): 353,917 shares VWAP (LSE): 30.9521 GBP Shares repurchased (XAMS): 309,517 shares +5 more

8 metrics

Shares repurchased (LSE) 353,917 shares Purchased 05/03/2026 on LSE for cancellation

VWAP (LSE) 30.9521 GBP Volume weighted average price 05/03/2026 on LSE

Shares repurchased (XAMS) 309,517 shares Purchased 05/03/2026 on XAMS for cancellation

VWAP (XAMS) 35.6158 EUR Volume weighted average price 05/03/2026 on XAMS

Recent buy-back (Mar 4) 1,949,746 shares Shares purchased for cancellation on 04 March 2026

Recent buy-back (Mar 3) 2,060,266 shares Shares purchased and cancelled on 03 March 2026

Recent buy-back (Feb 27) 867,321 shares Shares purchased for cancellation on 27 February 2026

June 2025 cancellations 34.2 million shares Cumulative ordinary shares cancelled in June 2025 per Form 6-K

Market Reality Check

Price: $82.70 Vol: Volume 5,559,118 is below...

normal vol

$82.70 Last Close

Volume Volume 5,559,118 is below the 20-day average of 6,763,927 (relative volume 0.82). normal

Technical Price 82.70 is trading above the 200-day MA at 73.07 and within -2.19% of the 52-week high.

Peers on Argus

SHEL is up 0.45% while major peers like CVX (-0.76%), XOM (-0.6%), TTE (-2.24%) ...

SHEL is up 0.45% while major peers like CVX (-0.76%), XOM (-0.6%), TTE (-2.24%) and PBR (-0.3%) are down, indicating a stock-specific move likely tied to the buy-back disclosures.

Historical Context

5 past events · Latest: Mar 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 04	Share buy-back	Positive	+0.5%	Repurchase and cancellation of 1,949,746 shares under ongoing buy-back.
Mar 04	Insider award	Positive	+0.5%	Conditional award of 11,269 shares to senior executive under share plan.
Mar 03	Share buy-back	Positive	-2.2%	Purchase and cancellation of 2,060,266 shares across UK and EU venues.
Mar 02	Share buy-back	Positive	+0.8%	Repurchase of 153,314 shares for cancellation across six trading venues.
Feb 27	Share buy-back	Positive	+2.9%	Purchase of 867,321 shares for cancellation under existing buy-back.

Pattern Detected

Recent buy-back and share-related disclosures have generally coincided with modestly positive or stable price reactions, with one notable down day.

Recent Company History

Over late February and early March 2026, Shell reported several buy-back transactions, cancelling shares across UK and EU venues under the programme announced on 05 February 2026. Daily repurchases ranged from 153,314 to over 2 million shares, with trading managed independently by Morgan Stanley. A director share award on 02 March 2026 was also disclosed. Price reactions around these events were mostly modestly positive, framing today’s further buy-back disclosure as a continuation of this capital return pattern.

Market Pulse Summary

This announcement details further share repurchases for cancellation under Shell’s buy-back programm...

Analysis

This announcement details further share repurchases for cancellation under Shell’s buy-back programme, executed on 05 March 2026 across UK and EU venues with disclosed VWAPs in GBP and EUR. It continues a pattern of regular capital returns seen in late February and early March 2026. The activity is structured under UK MAR and EU MAR frameworks, with trading decisions delegated to Morgan Stanley within defined parameters.

Key Terms

share buy-back programme, volume weighted average price, 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.

volume weighted average price technical

"Volume weighted average price paid per share | Venue | Currency"

The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.

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..."

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

"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.

off-market buyback contract financial

"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.

AI-generated analysis. Not financial advice.

Transaction in Own Shares      

05 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 05 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
05/03/2026	353,917	31.1950	30.6950	30.9521	LSE	GBP
05/03/2026	156,909	31.1950	30.6800	30.9576	Chi-X (CXE)	GBP
05/03/2026	55,602	31.1950	30.7100	30.9714	BATS (BXE)	GBP
05/03/2026	309,517	35.8950	35.2650	35.6158	XAMS	EUR
05/03/2026	200,522	35.9250	35.2600	35.6388	CBOE DXE	EUR
05/03/2026	33,033	35.8950	35.2700	35.6016	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_2026-03-05

FAQ

How many Shell (SHEL) shares were bought and cancelled on 05 March 2026?

Shell bought and cancelled 1,109,500 shares on 05 March 2026. According to the company, purchases were executed across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX.

What trading venues did Shell (SHEL) use for the 05 March 2026 buybacks?

The company executed buys on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX. According to the company, the breakdown lists per-venue volumes and VWAPs in GBP and EUR.

What timeframe covers Shell's (SHEL) current buy-back programme?

The buy-back programme runs from 05 February 2026 to 01 May 2026. According to the company, Morgan Stanley will trade independently on behalf of Shell within that period.

Who is executing trades for Shell's (SHEL) buy-back programme and how?

Morgan Stanley & Co. International Plc is executing trades independently on Shell's behalf. According to the company, trades follow pre-set parameters for on- and off-market limbs.

What prices did Shell (SHEL) pay for shares on 05 March 2026?

Per-venue VWAPs ranged around £30.95 (GBP venues) and €35.62 (EUR venues) on 05 March 2026. According to the company, the table shows highest, lowest and VWAP per venue.

Where can investors find the detailed trade breakdown for Shell's (SHEL) buybacks?

The company published a table with per-trade volumes, highest/lowest prices and VWAP by venue. According to the company, the breakdown accompanies the transaction announcement dated 05 March 2026.