Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 326,683 shares for cancellation on 13 March 2026 across multiple European trading venues. Purchases were executed under the buy-back programme announced 05 February 2026, with Morgan Stanley & Co. International Plc making independent trading decisions through 01 May 2026.

Trades list venue-level volumes and volume-weighted average prices in GBP and EUR; purchases form part of on- and off-market limbs conducted under UK MAR/EU MAR rules.

Positive

• 326,683 shares purchased for cancellation on 13 March 2026
• Buy-back programme active under authority from 05 February 2026 to 01 May 2026
• Independent execution by Morgan Stanley & Co. International Plc for the programme

Negative

• None.

Key Figures

Shares purchased (LSE): 86,473 shares VWAP (LSE, GBP): 33.5781 Shares purchased (XAMS): 111,800 shares +5 more

8 metrics

Shares purchased (LSE) 86,473 shares On-market buy-back on 13/03/2026, LSE

VWAP (LSE, GBP) 33.5781 Volume weighted average price per share on 13/03/2026

Shares purchased (XAMS) 111,800 shares On-market buy-back on 13/03/2026, XAMS

VWAP (XAMS, EUR) 38.8639 Volume weighted average price per share on 13/03/2026

Programme start date 05 February 2026 Buy-back period with Morgan Stanley making trading decisions

Programme end date 01 May 2026 Planned end of current buy-back programme window

UK MAR reference date 31 December 2020, 11:00 pm Time UK MAR was onshored into UK law

Delegated Regulation EU 2016/1052 Commission Delegated Regulation governing buy-back programmes

Market Reality Check

Price: $88.36 Vol: Volume 6,535,818 is close...

normal vol

$88.36 Last Close

Volume Volume 6,535,818 is close to the 20-day average of 6,823,604 (relative volume 0.96). normal

Technical Trading above the 200-day MA of 73.65 and within 0.69% of the 52-week high at 88.975.

Peers on Argus

SHEL gained 1.1% with major integrated peers also positive: CVX +2.28%, XOM +0.8...

SHEL gained 1.1% with major integrated peers also positive: CVX +2.28%, XOM +0.83%, TTE +0.84%, BP +0.96%, while PBR slipped 0.99%, suggesting company-specific buyback news alongside generally firm sector sentiment.

Historical Context

5 past events · Latest: Mar 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 12	Share buy-back	Positive	+1.1%	Disclosure of 336,336 shares repurchased for cancellation under active buy-back.
Mar 12	Regulatory filing	Neutral	+1.1%	Filing of 2025 Form 20-F and publication of Annual Report and Accounts.
Mar 12	Annual report	Neutral	+1.1%	Release of 2025 Annual Report and Accounts and related regulatory submissions.
Mar 11	Share buy-back	Positive	+2.7%	Reported multi-venue repurchases for cancellation with disclosed GBP and EUR VWAPs.
Mar 09	Share buy-back	Positive	+1.1%	Aggregated 295,391 shares bought back across venues under ongoing programme.

Pattern Detected

Recent buy-back disclosures and reporting filings have coincided with modestly positive price reactions, suggesting the market has generally welcomed these capital return and transparency updates.

Recent Company History

Over recent days, Shell has repeatedly reported buy-back activity and key filings. On 09–13 March 2026, multiple “Transaction in Own Shares” updates detailed daily purchases for cancellation under the programme announced on 05 February 2026, running to 01 May 2026. Additionally, Shell filed its 2025 Form 20-F and published the 2025 Annual Report and Accounts on 12 March 2026. Each of these events saw positive 24-hour price moves, and today’s announcement continues that established pattern of ongoing capital returns and regular disclosure.

Market Pulse Summary

This announcement details another trading day of Shell’s authorised share repurchase activity, with ...

Analysis

This announcement details another trading day of Shell’s authorised share repurchase activity, with purchases on multiple UK and European venues under the programme running from 05 February 2026 to 01 May 2026. Recent history shows repeated disclosures of buy-backs alongside key reporting events like the 2025 Annual Report and Form 20-F. Investors may monitor ongoing daily buy-back volumes, programme duration, and broader sector moves to gauge how these cancellations interact with Shell’s share price over time.

Key Terms

share buy-back programme, on-market, off-market, off-market buyback contract, +3 more

7 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 to repurchase shares off-market..."

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.

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.

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

"...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.

AI-generated analysis. Not financial advice.

Transaction in Own Shares      

13 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 13 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
13/03/2026	86,473	33.6950	33.3550	33.5781	LSE	GBP
13/03/2026	44,876	33.7000	33.3500	33.5758	Chi-X (CXE)	GBP
13/03/2026	15,152	33.6900	33.3950	33.5720	BATS (BXE)	GBP
13/03/2026	111,800	39.0000	38.6150	38.8639	XAMS	EUR
13/03/2026	55,155	39.0000	38.6550	38.8655	CBOE DXE	EUR
13/03/2026	13,227	38.9700	38.6600	38.8644	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_2026-03-13

FAQ

How many shares did Shell (SHEL) buy back on 13 March 2026?

Shell bought a total of 326,683 shares on 13 March 2026. According to the company, the purchases were executed across LSE, Chi-X, BATS, XAMS, CBOE DXE, and TQEX venues and were made for cancellation under the ongoing buy-back programme.

What price ranges did Shell (SHEL) pay for buy-backs on 13 March 2026?

Shell paid prices ranging from GBP 33.3550 to EUR 39.0000 across venues on 13 March 2026. According to the company, each venue entry lists the highest, lowest and VWAP for the trades executed that day.

Is Shell's (SHEL) buy-back on 13 March 2026 part of a larger programme?

Yes, the purchases are part of a buy-back programme announced on 05 February 2026. According to the company, the programme includes on- and off-market limbs and runs with Morgan Stanley making independent trading decisions through 01 May 2026.

Who executed Shell's (SHEL) share repurchases and for how long will they trade?

Morgan Stanley & Co. International Plc executed the trades independently for the programme. According to the company, Morgan Stanley will make trading decisions from 05 February 2026 up to and including 01 May 2026.

Will Shell (SHEL) cancel the shares bought on 13 March 2026?

Yes, the shares purchased on 13 March 2026 were acquired for cancellation. According to the company, the purchases were specifically made for cancellation under the terms of the existing buy-back programme.