Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 867,321 shares on 27 February 2026 for cancellation across six trading venues in GBP and EUR. Purchases form part of the buy-back programme announced 5 February 2026 and are being executed by Morgan Stanley & Co. International Plc independently through 1 May 2026.

The on-market and off-market limbs follow the Company’s repurchase authorities and comply with UK MAR and related delegated regulations.

Positive

• 867,321 shares repurchased and cancelled on 27 February 2026
• Executed across six venues (LSE, CXE, BXE, XAMS, CBOE DXE, TQEX)
• Buy-back runs under programme active 05 Feb–01 May 2026 with independent trading

Negative

• Reduction in shares outstanding due to cancellation, affecting free float and per‑share metrics
• Transactions in GBP and EUR introduce multi‑currency settlement considerations

News Market Reaction – SHEL

+2.87%

1 alert

+2.87% News Effect

On the day this news was published, SHEL gained 2.87%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased LSE: 234,997 shares VWAP LSE (GBP): £30.4676 Shares repurchased XAMS: 253,556 shares +5 more

8 metrics

Shares repurchased LSE 234,997 shares Purchased for cancellation on 27/02/2026 at LSE

VWAP LSE (GBP) £30.4676 Volume weighted average price on 27/02/2026 LSE purchases

Shares repurchased XAMS 253,556 shares Purchased for cancellation on 27/02/2026 at XAMS

VWAP XAMS (EUR) €34.8386 Volume weighted average price on 27/02/2026 XAMS purchases

Programme start date 05 February 2026 Start of current buy-back trading period

Programme end date 01 May 2026 Scheduled end of current buy-back period

Brexit transition end 31 December 2020, 11:00 pm Reference point for EU MAR onshored into UK law

Media contact number +44 (0) 207 934 5550 International media enquiries contact

Market Reality Check

Price: $82.33 Vol: Volume 5,767,625 is 0.85x...

normal vol

$82.33 Last Close

Volume Volume 5,767,625 is 0.85x the 20-day average of 6,752,947, indicating quieter trading. normal

Technical Price at 81.18 is above the 200-day MA at 72.75, keeping the longer-term uptrend intact.

Peers on Argus

SHEL fell 1.34% while key peers like CVX, XOM, TTE, BP and PBR rose between 0.37...

SHEL fell 1.34% while key peers like CVX, XOM, TTE, BP and PBR rose between 0.37% and 1.41%, pointing to stock-specific weakness despite a buyback.

Historical Context

5 past events · Latest: Feb 26 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Share buyback update	Neutral	-1.3%	Disclosure of 1,287,020 shares repurchased for cancellation across multiple venues.
Feb 25	Share buyback update	Neutral	+1.9%	Announcement of 1,090,750 shares purchased under ongoing buy-back programme.
Feb 24	Share buyback update	Neutral	+1.0%	Repurchase of 1,191,059 shares for cancellation across UK and EU venues.
Feb 23	Share buyback update	Neutral	+0.2%	Disclosure of 1,028,319 shares repurchased as part of buy-back programme.
Feb 20	Share buyback update	Neutral	-0.8%	Update on 1,595,356 shares bought and cancelled across multiple venues.

Pattern Detected

Recent daily buyback disclosures have produced mixed reactions, with three modestly positive and two negative 24-hour moves.

Recent Company History

Recent news for Shell has been dominated by daily disclosures of on- and off-market share repurchases for cancellation under the buy-back programme running from 05 February 2026 to 01 May 2026. Volumes have typically been around or above 1 million shares per day across UK and European venues, with trades executed independently by Morgan Stanley within pre-set parameters and under UK/EU MAR rules. Price responses have varied, suggesting that while buy-backs are a constant backdrop, broader market factors and energy sentiment have influenced short-term moves.

Market Pulse Summary

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

Analysis

This announcement details another day of on- and off-market share repurchases for cancellation under Shell’s existing buy-back programme running from 05 February 2026 to 01 May 2026. Trades were executed independently by Morgan Stanley across multiple UK and European venues, with venue-level prices reported in GBP and EUR. Recent history shows a steady cadence of similar disclosures. Investors may monitor cumulative buy-back volumes, regulatory filings, and future capital allocation updates to assess the programme’s ongoing impact.

Key Terms

share buy-back programme, on-market, off-market, 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.

on-market financial

"The on-market limb will be effected within certain pre-set parameters..."

On-market describes buying or selling shares directly through a public stock exchange at the current market price, rather than by a private or negotiated deal. Like buying an item from a store at the posted price instead of haggling privately, on-market trades happen quickly, are visible to other investors, and can move the stock price, so they affect liquidity and provide a transparent signal about supply and demand.

off-market financial

"The off-market limb will be effected in accordance with the Company’s general authority..."

Off-market describes a trade or transfer of securities that happens outside a public exchange, where buyers and sellers negotiate directly or use private arrangements rather than submitting orders on the open market. It matters to investors because these deals can change who controls a company or alter share supply without the usual public price signals, like selling a car privately instead of through a dealership — you may get a different price and the wider market may not immediately react.

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 amended ... from time to time (“UK MAR”) and the Commission Delegated Regulation..."

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.

EU MAR Delegated Regulation regulatory

"and the Commission Delegated Regulation (EU) 2016/1052 (the “EU MAR Delegated Regulation”)..."

An EU MAR Delegated Regulation is a detailed rule issued by the European Union to clarify or expand existing laws related to financial markets. It functions like a set of instructions that ensure consistent application of rules across all EU countries, helping investors understand how regulations are applied and maintained. This promotes transparency and stability in financial markets, making it easier for investors to make informed decisions.

AI-generated analysis. Not financial advice.

Transaction in Own Shares   

27 February 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 27 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
27/02/2026	234,997	30.7700	30.1150	30.4676	LSE	GBP
27/02/2026	121,651	30.7700	30.1800	30.5279	Chi-X (CXE)	GBP
27/02/2026	44,251	30.7700	30.1650	30.4837	BATS (BXE)	GBP
27/02/2026	253,556	35.1350	34.3650	34.8386	XAMS	EUR
27/02/2026	180,070	35.1300	34.4300	34.8373	CBOE DXE	EUR
27/02/2026	32,796	35.1000	34.4300	34.8272	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_2026-02-27

FAQ

How many shares did Shell (SHEL) repurchase and cancel on 27 February 2026?

Shell repurchased and cancelled 867,321 shares on 27 February 2026. According to the company, purchases were executed across six trading venues in GBP and EUR as part of the existing buy-back programme.

What trading venues did Shell (SHEL) use for the 27 February 2026 buyback?

The company executed trades on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE, and TQEX. According to the company, the breakdown of individual trades and VWAPs is provided for regulatory compliance.

Is the Shell (SHEL) buy-back on 27 February 2026 part of a larger programme, and what are the dates?

Yes. The purchases form part of a buy-back programme active from 05 February 2026 up to and including 01 May 2026. According to the company, Morgan Stanley will make trading decisions independently within pre-set parameters.

Were the shares bought on 27 February 2026 cancelled or held in treasury by Shell (SHEL)?

The shares purchased on 27 February 2026 were purchased for cancellation. According to the company, the transactions were executed to cancel the repurchased shares rather than hold them in treasury.

How does Shell (SHEL) ensure regulatory compliance for the 27 February 2026 buyback?

Shell conducted purchases under pre-set parameters in line with UK MAR and Chapter 9 of the UK Listing Rules. According to the company, the programme follows the EU MAR Delegated Regulation as onshored into UK law and related instruments.