Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 336,336 shares for cancellation on 12 March 2026 across multiple trading venues. Purchases were executed in GBP and EUR with venue-specific VWAPs reported.

These transactions form part of the existing buy-back programme announced on 05 February 2026, running through 01 May 2026, with Morgan Stanley making independent trading decisions.

Positive

• 336,336 shares purchased for cancellation on 12/03/2026
• Buy-back executed across six trading venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX)
• Transactions form part of the buy-back programme announced on 05 Feb 2026

Negative

• None.

News Market Reaction – SHEL

+1.10%

1 alert

+1.10% News Effect

On the day this news was published, SHEL gained 1.10%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares purchased LSE: 110,147 shares VWAP LSE: 32.5758 GBP Shares purchased Chi-X: 36,182 shares +5 more

8 metrics

Shares purchased LSE 110,147 shares 12/03/2026 cancellation on LSE in GBP

VWAP LSE 32.5758 GBP Volume weighted average price on LSE 12/03/2026

Shares purchased Chi-X 36,182 shares 12/03/2026 cancellation on Chi-X (CXE) in GBP

VWAP Chi-X 32.5821 GBP Volume weighted average price on Chi-X 12/03/2026

Shares purchased XAMS 98,085 shares 12/03/2026 cancellation on XAMS in EUR

VWAP XAMS 37.7278 EUR Volume weighted average price on XAMS 12/03/2026

Buy-back start date 05 February 2026 Start of current buy-back period managed by Morgan Stanley

Buy-back end date 01 May 2026 Scheduled end of this buy-back programme window

Market Reality Check

Price: $88.36 Vol: Volume 5,762,971 vs 20-da...

normal vol

$88.36 Last Close

Volume Volume 5,762,971 vs 20-day avg 6,843,533 (relative 0.84x) ahead of this buyback disclosure. normal

Technical Price at 87.40 trades above 200-day MA 73.54 and sits near the 87.46 52-week high.

Peers on Argus

SHEL was up 2.69% pre-release, while major integrated peers also showed gains: C...

SHEL was up 2.69% pre-release, while major integrated peers also showed gains: CVX +2.79%, XOM , BP +2.34%, TTE +1.66%, PBR +3.77%. The move appears stock-specific within a broadly firm sector.

Common Catalyst Peer news flow was limited; TTE reported a Libya production restart, but no broad, shared catalyst is evident.

Historical Context

5 past events · Latest: Mar 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 11	Share buyback update	Positive	+2.7%	Daily disclosure of multi-venue buybacks with GBP and EUR VWAPs reported.
Mar 09	Share buyback update	Positive	+1.1%	Repurchase and cancellation of 295,391 shares under ongoing buy-back programme.
Mar 09	PDMR share disposal	Negative	+1.1%	Managerial share disposals disclosed for two PDMRs at around £31 per share.
Mar 06	Share buyback update	Positive	+2.1%	Announcement of 776,817 ordinary shares purchased for cancellation across venues.
Mar 05	Share buyback update	Positive	+0.3%	Disclosure of 1,109,500 shares bought and cancelled under February 2026 programme.

Pattern Detected

Recent buy-back disclosures have coincided with positive 24h moves between 0.29% and 2.69%, suggesting the market has consistently reacted constructively to repurchase updates, while a director disposal notice also saw a positive reaction.

Recent Company History

Over the last week, Shell has repeatedly reported daily share repurchases for cancellation under its buy-back programme running from 05 February 2026 to 01 May 2026. Disclosures on 05, 06, 09, and 11 March 2026 all detailed multi-venue purchases managed independently by Morgan Stanley and were followed by positive 24h moves ranging from 0.29% to 2.69%. A Director/PDMR Shareholding notice on 09 March 2026 about managerial share disposals also preceded a gain, indicating resilient sentiment around capital actions.

Market Pulse Summary

This announcement details another day of share repurchases for cancellation across LSE, Chi-X, BATS,...

Analysis

This announcement details another day of share repurchases for cancellation across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX under Shell’s buy-back programme running from 05 February 2026 to 01 May 2026. It reinforces an established pattern of capital returns without introducing new operational data. Investors may monitor the cumulative volume of cancelled shares, regulatory-compliant execution under EU/UK MAR, and how these buy-backs interact with sector trends and prior 24h reactions up to 2.69%.

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 financial

"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

"Article 5 of the 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      

12 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 12 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
12/03/2026	110,147	32.8000	32.3650	32.5758	LSE	GBP
12/03/2026	36,182	32.7550	32.3750	32.5821	Chi-X (CXE)	GBP
12/03/2026	20,578	32.8000	32.4250	32.5709	BATS (BXE)	GBP
12/03/2026	98,085	37.9750	37.5600	37.7278	XAMS	EUR
12/03/2026	56,361	37.9800	37.5900	37.7348	CBOE DXE	EUR
12/03/2026	14,983	37.9300	37.5500	37.6695	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_2026-03-12

FAQ

How many shares did Shell (SHEL) buy back and cancel on 12 March 2026?

Shell bought and cancelled 336,336 shares on 12 March 2026. According to the company, the total reflects aggregated trades across six venues with venue-level volumes and prices disclosed for compliance.

What venues and currencies were used for Shell (SHEL) share purchases on 12 March 2026?

Shell's purchases occurred on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX in both GBP and EUR. According to the company, each venue's number of shares and VWAPs were reported for transparency under applicable rules.

Is the 12 March 2026 buyback part of a larger Shell (SHEL) programme and what are the dates?

Yes. The purchases form part of an existing buy-back programme announced on 05 February 2026. According to the company, Morgan Stanley will trade independently under the programme through 01 May 2026.

Which broker executed the Shell (SHEL) buyback trades and how were trading decisions made?

Morgan Stanley & Co. International Plc executed trades and will make trading decisions independently. According to the company, the broker acted under pre-set parameters in both on-market and off-market limbs of the programme.

What price ranges and VWAPs did Shell (SHEL) report for the 12 March 2026 purchases?

Reported highest per-share prices ranged ~GBP 32.80 and ~EUR 37.98, with venue VWAPs provided (e.g., GBP VWAP ~32.576; EUR VWAP ~37.728). According to the company, each trade’s highest, lowest and VWAP were disclosed.

Under which rules did Shell (SHEL) conduct the 12 March 2026 buy-back transactions?

Shell conducted the programme in accordance with Chapter 9 of the UK Listing Rules and EU/UK MAR provisions (including delegated regulations). According to the company, the buy-back adheres to on-market and off-market regulatory requirements and relevant instruments.