Transaction in Own Shares

Rhea-AI Summary

Shell (SHEL) purchased 472,613 shares for cancellation on 30 March 2026 across multiple trading venues. Purchases were executed in both GBP and EUR with volume-weighted average prices ranging ~£35.38 and €40.75 respectively. The trades form part of the buy-back programme announced 5 February 2026 and will be managed by Morgan Stanley from 5 February 2026 through 1 May 2026.

The on-market and off-market limbs were used and the programme complies with UK MAR and EU MAR onshored rules.

Positive

• Total repurchase of 472,613 shares on 30 March 2026
• Cross-market execution across LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX
• Managed by Morgan Stanley acting independently under preset parameters until 01 May 2026

Negative

• Multi-currency purchases executed in GBP and EUR with differing VWAPs (≈£35.39 vs ≈€40.75)
• Ongoing programme runs through 01 May 2026, indicating further share purchases may follow

News Market Reaction – SHEL

+0.62%

1 alert

+0.62% News Effect

On the day this news was published, SHEL gained 0.62%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares bought LSE: 112,091 shares Shares bought Chi-X: 58,933 shares Shares bought BATS: 22,265 shares +5 more

8 metrics

Shares bought LSE 112,091 shares 30/03/2026, LSE, for cancellation

Shares bought Chi-X 58,933 shares 30/03/2026, Chi-X (CXE), for cancellation

Shares bought BATS 22,265 shares 30/03/2026, BATS (BXE), for cancellation

Shares bought XAMS 166,922 shares 30/03/2026, XAMS, for cancellation

Shares bought CBOE DXE 89,651 shares 30/03/2026, CBOE DXE, for cancellation

Shares bought TQEX 22,751 shares 30/03/2026, TQEX, for cancellation

GBP VWAP LSE 35.3885 GBP 30/03/2026, LSE volume-weighted average price

EUR VWAP XAMS 40.7513 EUR 30/03/2026, XAMS volume-weighted average price

Market Reality Check

Price: $92.74 Vol: Volume 7,098,948 is at 0....

normal vol

$92.74 Last Close

Volume Volume 7,098,948 is at 0.87x the 20-day average of 8,195,886 shares. normal

Technical Price 92.17 is trading above the 200-day MA at 74.96, near the 92.95 52-week high.

Peers on Argus

SHEL was roughly flat at +0.01% while large peers were mostly higher (e.g., XOM ...

SHEL was roughly flat at +0.01% while large peers were mostly higher (e.g., XOM +3.27%, CVX +1.44%, BP +1.39%, PBR +1.91%, TTE -0.14%), pointing to company-specific dynamics rather than a broad sector move.

Historical Context

5 past events · Latest: Mar 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 26	Share buy-back update	Positive	+0.3%	Reported 1,189,832 shares bought and cancelled under ongoing buy-back programme.
Mar 25	Share buy-back update	Positive	+0.8%	Disclosed 1,089,316 shares repurchased for cancellation across six trading venues.
Mar 24	Share buy-back update	Positive	+0.5%	Detailed 430,308 shares purchased for cancellation in GBP and EUR venues.
Mar 23	Share buy-back update	Positive	+0.3%	Announced 3,208,307 shares repurchased as part of existing buy-back programme.
Mar 20	Share buy-back update	Positive	-0.8%	Reported 1,331,562 shares purchased with VWAPs in GBP and EUR venues.

Pattern Detected

Recent buy-back disclosures have coincided with modest, mostly positive 1-day moves, with one small negative reaction.

Recent Company History

Over the past weeks, Shell has repeatedly reported daily share repurchases for cancellation under its buy-back programme. Disclosures on 20–26 March 2026 detailed purchases ranging from 430,308 to 3,208,307 shares across UK and European venues in GBP and EUR, all executed independently by Morgan Stanley within preset parameters. Reported 24-hour price reactions to these routine buy-back updates were modest, between -0.82% and +0.83%. Today’s announcement continues this pattern of regular trading disclosure without introducing new programme terms.

Market Pulse Summary

This announcement details another day of repurchases under Shell’s existing buy-back programme, with...

Analysis

This announcement details another day of repurchases under Shell’s existing buy-back programme, with shares bought across UK and European venues on 30 March 2026 for cancellation at disclosed GBP and EUR VWAPs. It follows a series of similar updates in March 2026 that reported daily volumes and modest price reactions. Investors may focus on the consistency of these purchases through 01 May 2026, Shell’s position near its 92.95 52-week high, and any future changes to capital return plans.

Key Terms

on- and off-market, buy-back programme, uk listing rules, eu mar, +2 more

6 terms

on- and off-market financial

"These share purchases form part of the on- and off-market limbs of the Company's..."

On-market transactions are trades carried out through a public exchange where buy and sell orders meet and prices are visible to everyone, like shopping at a supermarket with a tagged price. Off-market transactions happen outside the exchange, such as private transfers, negotiated block trades, or direct transfers between parties, more like buying from a neighbor by agreement. Investors care because on-market trades offer price transparency and immediate liquidity, while off-market deals can move ownership without showing up in public price discovery and can affect supply, demand, and disclosure timing.

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 buy-back programme is when a company uses cash to repurchase its own shares from the market, reducing the number of shares available to investors. Like a store buying back its own gift cards to concentrate value, buy-backs can raise earnings per share and signal management’s confidence but also use cash that might have funded growth or dividends—details investors watch to judge impact on value and risk.

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.

market abuse (amendment) (eu exit) regulations (si 2019/310) regulatory

"including, The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310)), from time to time."

A set of UK rules that update the law on insider trading, market manipulation and related disclosure duties to reflect the country’s departure from the EU. It is essentially an updated rulebook that keeps enforcement powers, reporting requirements and protections for honest investors working smoothly after the legal change; investors care because it clarifies what behaviour is illegal, how markets stay fair, and what companies must disclose.

AI-generated analysis. Not financial advice.

Transaction in Own Shares      

30 March 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 30 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
30/03/2026	112,091	35.6550	34.9700	35.3885	LSE	GBP
30/03/2026	58,933	35.6350	34.9900	35.3842	Chi-X (CXE)	GBP
30/03/2026	22,265	35.6400	35.0050	35.3920	BATS (BXE)	GBP
30/03/2026	166,922	41.0100	40.3200	40.7513	XAMS	EUR
30/03/2026	89,651	41.0050	40.3350	40.7270	CBOE DXE	EUR
30/03/2026	22,751	40.9800	40.4750	40.7548	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_2026-03-30

FAQ

How many shares did Shell (SHEL) repurchase on 30 March 2026?

Shell repurchased 472,613 shares on 30 March 2026. According to the company, purchases were executed across multiple venues and currencies with detailed per-venue breakdowns provided for transparency.

What venues and currencies were used for SHEL share buybacks on 30 March 2026?

Trades were executed on LSE, Chi-X, BATS, XAMS, CBOE DXE and TQEX in GBP and EUR. According to the company, each venue’s number of shares and VWAPs are listed in the trade breakdown.

Who executed the Shell (SHEL) buyback trades and what authority did they have?

Morgan Stanley & Co. International Plc executed trades independently under preset parameters. According to the company, Morgan Stanley will trade from 05 February 2026 through 01 May 2026.

Are the 30 March 2026 share purchases part of a larger SHEL buy-back programme?

Yes. The purchases are part of the on- and off-market limbs of Shell’s buy-back programme announced on 05 February 2026. According to the company, the programme follows applicable UK MAR and EU MAR rules.

What were the approximate VWAPs paid by Shell (SHEL) on 30 March 2026?

Volume-weighted average prices were approximately £35.39 on GBP venues and €40.75 on EUR venues. According to the company, VWAPs for each venue are listed in the trade table.