Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) repurchased 153,314 shares for cancellation on 02 March 2026 across six trading venues, executed under the Company’s existing buy-back programme announced 05 February 2026. Morgan Stanley & Co. International Plc made trading decisions independently for the programme period to 01 May 2026.

Purchases were on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX and were effected under UK MAR and the EU MAR Delegated Regulation as onshored into UK law.

Positive

• 153,314 shares repurchased on 02 March 2026 for cancellation
• Executed across six venues (LSE, Chi-X, BATS, XAMS, CBOE DXE, TQEX) under existing programme

Negative

• None.

News Market Reaction – SHEL

+0.85%

1 alert

+0.85% News Effect

On the day this news was published, SHEL gained 0.85%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares repurchased LSE: 48,608 shares Shares repurchased Chi-X: 24,851 shares Shares repurchased BATS: 8,599 shares +5 more

8 metrics

Shares repurchased LSE 48,608 shares 02/03/2026, for cancellation on LSE in GBP

Shares repurchased Chi-X 24,851 shares 02/03/2026, for cancellation on Chi-X (CXE) in GBP

Shares repurchased BATS 8,599 shares 02/03/2026, for cancellation on BATS (BXE) in GBP

Shares repurchased XAMS 43,515 shares 02/03/2026, for cancellation on XAMS in EUR

Shares repurchased CBOE DXE 19,871 shares 02/03/2026, for cancellation on CBOE DXE in EUR

Shares repurchased TQEX 7,870 shares 02/03/2026, for cancellation on TQEX in EUR

Programme window 05 Feb 2026 – 01 May 2026 Period in which Morgan Stanley executes buy-back trades

Highest GBP price £31.5800 Maximum price paid per share on 02/03/2026 GBP venues

Market Reality Check

Price: $82.33 Vol: Volume 6,219,378 vs 20-da...

normal vol

$82.33 Last Close

Volume Volume 6,219,378 vs 20-day average 6,525,993 (relative 0.95x) suggests typical trading activity ahead of this buyback disclosure. normal

Technical Price 83.51 is trading above the 200-day MA 72.83 and sits 0.19% below the 52-week high of 83.665.

Peers on Argus

SHEL gained 2.87% while key integrated peers showed modest moves: CVX +0.41%, XO...

SHEL gained 2.87% while key integrated peers showed modest moves: CVX +0.41%, XOM +0.99%, TTE +0.37%, BP +0.15%, PBR -0.78%. The stronger advance in SHEL versus mixed peer performance points to a stock-specific driver such as the ongoing buyback programme.

Historical Context

5 past events · Latest: Feb 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Daily share buyback	Positive	-1.3%	1,287,020 shares bought for cancellation under ongoing buy-back programme.
Feb 25	Daily share buyback	Positive	+1.9%	1,090,750 shares repurchased for cancellation across UK and EU venues.
Feb 24	Daily share buyback	Positive	+1.0%	1,191,059 shares purchased for cancellation across multiple trading venues.
Feb 23	Daily share buyback	Positive	+0.2%	1,028,319 shares repurchased for cancellation within existing buy-back.
Feb 20	Daily share buyback	Positive	-0.8%	1,595,356 shares purchased and cancelled under announced buy-back.

Pattern Detected

Recent buyback disclosures have produced mixed reactions: three positive alignments and two negative divergences versus generally supportive sentiment around share cancellations.

Recent Company History

Over the past weeks, Shell has reported multiple “Transaction in Own Shares” updates, cancelling between 1.03M and 1.60M 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, executed independently by Morgan Stanley within pre-set parameters under UK MAR and EU MAR. Price reactions have varied: moves of -1.34%, +1.86%, +1.01%, +0.24% and -0.75%, showing no consistent directional pattern despite the recurring buyback support.

Market Pulse Summary

This announcement provides another daily update on Shell’s ongoing buy-back programme, detailing rep...

Analysis

This announcement provides another daily update on Shell’s ongoing buy-back programme, detailing repurchases across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX on 02 March 2026. The shares are being cancelled, directly reducing share count within the window from 05 February 2026 to 01 May 2026. Conducted under UK Listing Rules and EU/UK MAR, these trades occur while the stock trades near its 52-week high of 83.665 and above its 200-day MA of 72.83.

Key Terms

volume weighted average price, share buy-back programme, uk listing rules, eu mar, +1 more

5 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.

uk listing rules regulatory

"conducted in accordance with Chapter 9 of the UK Listing Rules and Article 5"

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

"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"

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   

02 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 02 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
02/03/2026	48,608	31.5800	31.1300	31.4063	LSE	GBP
02/03/2026	24,851	31.5800	31.1400	31.4275	Chi-X (CXE)	GBP
02/03/2026	8,599	31.4900	31.0950	31.3689	BATS (BXE)	GBP
02/03/2026	43,515	36.1150	35.8050	36.0125	XAMS	EUR
02/03/2026	19,871	36.1800	35.8100	36.0056	CBOE DXE	EUR
02/03/2026	7,870	36.0600	35.9000	35.9942	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_2026-03-02

FAQ

How many Shell (SHEL) shares were repurchased on 02 March 2026?

Shell repurchased 153,314 shares on 02 March 2026 for cancellation. According to the company, purchases were executed across six trading venues under its buy-back programme announced 05 February 2026.

Which trading venues were used for Shell's (SHEL) 02 March 2026 buyback?

Purchases were executed on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX. According to the company, trades were part of the on- and off-market limbs of the buy-back programme.

Who managed trading decisions for Shell (SHEL) share repurchases through May 2026?

Morgan Stanley & Co. International Plc made trading decisions independently through 01 May 2026. According to the company, Morgan Stanley executed trades under pre-set parameters for the buy-back programme.

Are Shell's (SHEL) March 2026 buybacks subject to market abuse rules?

Yes. The buy-back programme was conducted under Chapter 9 UK Listing Rules and UK MAR as onshored from EU MAR. According to the company, the purchases complied with the EU MAR Delegated Regulation requirements.

Were the repurchased Shell (SHEL) shares cancelled or held in treasury?

The repurchased shares were purchased for cancellation. According to the company, the shares bought on 02 March 2026 will be cancelled under the terms of the existing buy-back programme.

When did Shell (SHEL) announce the buy-back programme that covered the March 2026 purchases?

The buy-back programme was announced on 05 February 2026. According to the company, the programme runs through on- and off-market limbs with trading decisions by Morgan Stanley up to 01 May 2026.