Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 1,090,750 ordinary shares for cancellation on 25 February 2026 across LSE, Chi-X, BATS and multiple European venues. Purchases formed part of the buy-back programme announced on 05 February 2026, with Morgan Stanley executing trades through to 01 May 2026.

Aggregated volume-weighted average prices were about £30.01 for GBP trades and €34.47 for EUR trades. The programme is conducted under UK MAR and related EU MAR Delegated Regulation on an on- and off-market basis.

Positive

• Total shares repurchased of 1,090,750 on 25 February 2026
• GBP VWAP approx £30.01 across LSE/Chi-X/BATS
• EUR VWAP approx €34.47 across XAMS/CBOE/TQEX
• Buyback authority executed under existing shareholder-approved programme

Negative

• None.

News Market Reaction – SHEL

+1.86%

1 alert

+1.86% News Effect

On the day this news was published, SHEL gained 1.86%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

LSE shares bought: 308,628 shares Chi-X shares bought: 155,287 shares BATS shares bought: 68,586 shares +5 more

8 metrics

LSE shares bought 308,628 shares Purchased for cancellation on 25/02/2026 at LSE

Chi-X shares bought 155,287 shares Purchased for cancellation on 25/02/2026 at Chi-X (CXE)

BATS shares bought 68,586 shares Purchased for cancellation on 25/02/2026 at BATS (BXE)

XAMS shares bought 319,156 shares Purchased for cancellation on 25/02/2026 at XAMS

CBOE DXE shares bought 194,339 shares Purchased for cancellation on 25/02/2026 at CBOE DXE

TQEX shares bought 44,754 shares Purchased for cancellation on 25/02/2026 at TQEX

GBP VWAP range £29.8600–£30.0900 Highest and lowest prices paid on 25/02/2026 in GBP venues

EUR VWAP range €34.3150–€34.5550 Highest and lowest prices paid on 25/02/2026 in EUR venues

Market Reality Check

Price: $81.18 Vol: Volume 5,654,019 is below...

normal vol

$81.18 Last Close

Volume Volume 5,654,019 is below 20-day average 6,555,499 (relative volume 0.86x). normal

Technical Price 80.78 is trading above 200-day MA at 72.59 and close to 52-week high 80.94.

Peers on Argus

SHEL is up 1.01% while key peers show mixed, mostly modest moves: CVX +0.03%, XO...

SHEL is up 1.01% while key peers show mixed, mostly modest moves: CVX +0.03%, XOM -0.77%, TTE +0.58%, BP -0.23%, PBR +1.47%, indicating a stock-specific bias rather than a uniform sector move.

Historical Context

5 past events · Latest: Feb 24 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 24	Daily share buyback	Positive	+1.0%	Reported 1,191,059 shares bought for cancellation under ongoing programme.
Feb 23	Daily share buyback	Positive	+0.2%	Disclosed 1,028,319 shares purchased for cancellation across multiple venues.
Feb 20	Daily share buyback	Positive	-1.4%	Announced 1,595,356 shares purchased and cancelled as part of buy-back.
Feb 19	Daily share buyback	Positive	+0.1%	Detailed 3,407,159 shares bought for cancellation under the programme.
Feb 18	Daily share buyback	Positive	+2.5%	Reported 61,955 shares purchased and cancelled with stated VWAPs in GBP/EUR.

Pattern Detected

Recent daily buyback disclosures have usually coincided with small positive price moves, with one notable down day.

Recent Company History

Over the past week, Shell has repeatedly reported daily "Transaction in Own Shares" updates, cancelling between 61,955 and 3,407,159 shares per day across UK and European venues. All activity forms part of the buy-back programme running from 05 February 2026 to 01 May 2026, with Morgan Stanley executing trades independently within preset parameters and under EU/UK MAR. Price reactions to these updates have been mostly modestly positive, suggesting the market has treated them as routine capital return disclosures.

Market Pulse Summary

This announcement details another trading day under Shell’s existing buyback programme, with shares ...

Analysis

This announcement details another trading day under Shell’s existing buyback programme, with shares repurchased across UK and European venues for cancellation on 25 February 2026. It continues the pattern of daily disclosures since the programme began on 05 February 2026 and runs through 01 May 2026. Investors tracking this trend may focus on cumulative shares cancelled, execution prices relative to the 52-week high of 80.94, and ongoing adherence to UK/EU MAR and Listing Rule requirements.

Key Terms

volume weighted average price, share buy-back programme, eu mar, uk mar, +2 more

6 terms

volume weighted average price financial

"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.

share buy-back programme financial

"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.

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.

listing rules regulatory

"conducted in accordance with Chapter 9 of the UK Listing Rules"

Listing rules are the set of requirements a stock exchange and regulators impose on companies to join and stay on the exchange, covering things like financial reporting, disclosures, governance and minimum size. They matter to investors because those rules create a basic level of transparency and behavior—think of them as marketplace rules that make it easier to compare sellers, reduce surprises, and protect liquidity and value; breaking the rules can lead to fines, trading suspensions or delisting.

AI-generated analysis. Not financial advice.

Transaction in Own Shares   

25 February 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 25 February 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
25/02/2026	308,628	30.0900	29.8600	30.0088	LSE	GBP
25/02/2026	155,287	30.0900	29.8600	30.0042	Chi-X (CXE)	GBP
25/02/2026	68,586	30.0900	29.8600	30.0106	BATS (BXE)	GBP
25/02/2026	319,156	34.5550	34.3150	34.4667	XAMS	EUR
25/02/2026	194,339	34.5550	34.3150	34.4669	CBOE DXE	EUR
25/02/2026	44,754	34.5550	34.3150	34.4733	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_2026-02-25

FAQ

How many shares did Shell (SHEL) buy back on 25 February 2026?

Shell repurchased 1,090,750 shares on 25 February 2026. According to the company, purchases were executed across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX as part of its ongoing buy-back programme.

What prices did Shell (SHEL) pay per share in the 25 February 2026 buyback?

The GBP trades had a VWAP near £30.01 and EUR trades near €34.47. According to the company, individual venue VWAPs and highest/lowest prices are disclosed for transparency.

Is the 25 February 2026 repurchase part of a larger Shell (SHEL) buy-back programme?

Yes. The purchases on 25 February 2026 formed part of a buy-back programme announced on 05 February 2026. According to the company, the programme runs through 01 May 2026 with Morgan Stanley making independent trading decisions.

Who executed the Shell (SHEL) buyback trades on behalf of the company?

Morgan Stanley & Co. International Plc executed the trades independently for Shell. According to the company, Morgan Stanley will make trading decisions under preset parameters from 05 February to 01 May 2026.

Were Shell's 25 February 2026 buyback trades on-market or off-market?

The transactions included both on-market and off-market limbs of the programme. According to the company, on-market trades followed preset parameters and off-market trades followed the shareholder-approved off-market buyback contract.

Under what regulations was Shell's 25 February 2026 buyback conducted?

The buyback was conducted under UK MAR and the EU MAR Delegated Regulation as onshored into UK law. According to the company, the programme complied with Chapter 9 of the UK Listing Rules and related regulations.