Transaction in Own Shares

Rhea-AI Summary

Shell plc (SHEL) purchased and cancelled 2,379,170 shares on 01 April 2026 under its ongoing buy-back programme announced 05 February 2026. Purchases occurred across six trading venues (LSE, CXE, BXE, XAMS, DXE, TQEX) with GBP VWAPs ~34.80 and EUR VWAPs ~39.99.

Trading was executed by Morgan Stanley & Co. International Plc, acting independently, and the programme runs through 01 May 2026, complying with UK MAR and EU MAR rules.

Positive

• Shares purchased totalling 2,379,170 on 01 April 2026
• Execution across six venues (LSE, CXE, BXE, XAMS, DXE, TQEX)
• VWAPs reported approximately 34.80 GBP and 39.99 EUR

Negative

• None.

News Market Reaction – SHEL

-1.04%

1 alert

-1.04% News Effect

On the day this news was published, SHEL declined 1.04%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Shares bought LSE: 678,725 shares LSE VWAP: £34.8049 Shares bought Chi-X: 332,070 shares +5 more

8 metrics

Shares bought LSE 678,725 shares Repurchased for cancellation on 01/04/2026 at LSE (GBP)

LSE VWAP £34.8049 Volume-weighted average price per share on 01/04/2026, LSE

Shares bought Chi-X 332,070 shares Repurchased for cancellation on 01/04/2026 at Chi-X (CXE), GBP

Shares bought BATS 147,735 shares Repurchased for cancellation on 01/04/2026 at BATS (BXE), GBP

Shares bought XAMS 654,415 shares Repurchased for cancellation on 01/04/2026 at XAMS, EUR

Shares bought CBOE DXE 471,369 shares Repurchased for cancellation on 01/04/2026 at CBOE DXE, EUR

Shares bought TQEX 94,856 shares Repurchased for cancellation on 01/04/2026 at TQEX, EUR

Buyback window 05 February 2026–01 May 2026 Period during which Morgan Stanley trades independently for programme

Market Reality Check

Price: $93.10 Vol: Volume 11,487,842 is 1.4x...

normal vol

$93.10 Last Close

Volume Volume 11,487,842 is 1.4x the 20-day average of 8,209,023, indicating elevated trading interest. normal

Technical Price at 93.035 trades above the 200-day MA of 75.18 and sits just below the 52-week high of 94.9.

Peers on Argus

Large-cap integrated peers like CVX, XOM, TTE and BP show declines between -0.53...

3 Down

Large-cap integrated peers like CVX, XOM, TTE and BP show declines between -0.53% and -2.53%, while SHEL’s price change of +0.28% is mildly positive. Momentum data shows EQNR, XOM and CVX down roughly 5%, pointing to broader sector pressure with SHEL comparatively more resilient on buyback news.

Historical Context

5 past events · Latest: Mar 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 30	Share buyback update	Positive	+0.6%	472,613 shares purchased and cancelled under ongoing buy-back programme.
Mar 27	Share buyback update	Positive	+0.0%	1,558,275 shares bought and cancelled across UK and European venues.
Mar 26	Share buyback update	Positive	+0.3%	1,189,832 ordinary shares repurchased and cancelled in multiple venues.
Mar 25	Share buyback update	Positive	+0.8%	1,089,316 shares purchased for cancellation under February 2026 programme.
Mar 24	Share buyback update	Positive	+0.5%	430,308 shares repurchased and cancelled across six trading venues.

Pattern Detected

Repeated daily buyback disclosures since late March 2026 have coincided with small, consistently positive 24-hour price reactions.

Recent Company History

This announcement continues Shell’s ongoing on- and off‑market share buy‑back activity. From 24 March 2026 through 30 March 2026, Shell disclosed multiple daily repurchases ranging from 430,308 to 1,558,275 shares, each for cancellation and executed across UK and European venues under a programme running to 01 May 2026. Those prior buyback updates saw modest positive 24‑hour moves between 0.01% and 0.83%, suggesting the market has treated these disclosures as incrementally supportive rather than transformative.

Market Pulse Summary

This announcement details another day of share repurchases and cancellations across UK and European ...

Analysis

This announcement details another day of share repurchases and cancellations across UK and European venues under Shell’s existing buy-back programme running from 05 February 2026 to 01 May 2026. It continues a series of similar disclosures in late March that each reported incremental reductions in share count. Investors may track the pace of daily repurchases, the mix of GBP and EUR trading venues, and how this activity interacts with broader energy-sector moves and regulatory constraints under EU and UK MAR.

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

"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.

buy-back programme financial

"as a part of the buy-back programme is detailed below"

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.

AI-generated analysis. Not financial advice.

Transaction in Own Shares      

01 April 2026

• • • • • • • • • • • • • • • •

Shell plc (the ‘Company’) announces that on 01 April 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
01/04/2026	678,725	35.6150	34.3250	34.8049	LSE	GBP
01/04/2026	332,070	35.6150	34.3400	34.8383	Chi-X (CXE)	GBP
01/04/2026	147,735	35.6150	34.3450	34.7649	BATS (BXE)	GBP
01/04/2026	654,415	40.8600	39.3850	39.9977	XAMS	EUR
01/04/2026	471,369	40.8700	39.3450	39.9639	CBOE DXE	EUR
01/04/2026	94,856	40.8600	39.4000	39.9305	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_2026-04-01

FAQ

How many shares did Shell (SHEL) purchase and cancel on 01 April 2026?

Shell purchased and cancelled 2,379,170 shares on 01 April 2026. According to the company, purchases across six venues aggregated to that total as part of its ongoing buy-back programme announced 05 February 2026.

What prices did Shell (SHEL) pay per share in the 01 April 2026 buyback?

Prices varied by venue with GBP VWAPs near 34.80 and EUR VWAPs near 39.99. According to the company, individual trades show highest, lowest and volume-weighted average prices per venue as published.

Who executed the Shell (SHEL) share repurchases announced 01 April 2026?

Morgan Stanley & Co. International Plc executed the trades independently for Shell. According to the company, Morgan Stanley will make trading decisions under pre-set parameters through 01 May 2026.

Over which trading venues did Shell (SHEL) complete the 01 April 2026 purchases?

Purchases were completed on LSE, Chi-X (CXE), BATS (BXE), XAMS, CBOE DXE and TQEX. According to the company, aggregate volumes and VWAPs by venue are provided for transparency.

How long will Shell's (SHEL) buy-back programme run following the 01 April 2026 trades?

The buy-back programme will run from 05 February 2026 up to and including 01 May 2026. According to the company, on- and off-market limbs are being conducted within pre-set parameters and regulatory frameworks.