Slides
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October 30, 2025 Scorpio Tankers Inc. Third Quarter 2025 Earnings Presentation
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2 This presentation includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Pr ivate Securities Litigation Reform Act of 1995. These forward -looking statements reflect Scorpio Tankers Inc.’s (“Scorpio’s”) current views with respect to future events and financial performance. The words “believe,” “ant icipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect” and similar expressions identify forward-looking statements. The forward-looking statements in this presentation are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in Scorpio’s records and other da ta available from third parties. Although Scorpio believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficul t or impossible to predict and are beyond Scorpio’s control, Scorpio cannot assure you that it will achieve or accomplish these expectations, beliefs, projections or future financial performance. Risks and uncertainties include, but are not limited to, the failure of counterparties to fully perform their contracts with Scorpio, the strength of world economies and currencies, general market conditions, including fluctuations in charter hire rates and vessel values, changes in demand in the tanker vessel markets, changes in Scorpio’s op erating expenses, including bunker prices, drydocking and insurance costs, the fuel efficiency of our vessels, the market for Scorpio's vessels, availability of financing and refinancing, charter counterparty performance, abili ty to obtain financing and comply with covenants in such financing arrangements, changes in governmental and environmental rules and regulations or actions taken by regulatory authorities including those that may limi t the commercial useful lives of tankers, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events , and other important factors described from time to time in the reports Scorpio files with, or furnishes to, the Securities and Exchange Commission, or the Commission, and the New York Stock Exchange, or NYSE. Scorpio undertakes n o obligation to update or revise any forward-looking statements. These forward-looking statements are not guarantees of Scorpio's future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements. This presentation describes time charter equivalent revenue, or TCE revenue, adjusted net income, and adjusted EBITDA, which are not a measures prepared in accordance with IFRS (i.e. a "Non -IFRS" measure). These measures are presented here because we believe that they provides investors with a means of evaluating and understanding how the Company's management evaluates the Company's operating performance. These Non - IFRS measures should not be considered in isolation from, as a substitute for, or superior to financial measures prepared in accordance with IFRS. The Company believes that the presentation of TCE revenue, adjusted net income, and adjusted EBITDA is useful to investors be cause they facilitate the comparability and the evaluation of companies in the Company’s industry. In addition, the Company believes that TCE revenue is useful in evaluating its operating performance compared to th at of other companies in the Company’s industry. The Company’s definition of TCE revenue may not be the same as reported by other companies in the shipping industry or other industries. See the Company’s recently issu ed earnings press release under the section entitled “Non -IFRS Measures” for a reconciliation of these amounts. Unless otherwise indicated, information contained in this presentation concerning Scorpio’s industry and the market in which it operates, including its general expectations about its industry, market position, market opportunity and market size, is based on data from various sources including internal data and estimates as well as third par ty sources widely available to the public such as independent industry publications, government publications, reports by market research firms or other published independent sources. Internal data and estimates are based upon this information as well as information obtained from trade and business organizations and other contacts in the markets in which Scorpio operates and management’s understanding of industry conditions. This informati on, data and estimates involve a number of assumptions and limitations, are subject to risks and uncertainties, and are subject to change based on various factors, including those discussed above. You are cautioned not to give undue weight to such information, data and estimates. While Scorpio believes the market and industry information included in this presentation to be generally reliable, it has not independently verified any third -party information or verified that more recent information is not available. Disclaimer and Forward-looking Statements
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Q3 2025 Call Agenda 1. Q3 2025 Highlights 2. Product Tanker Market 3. Financial Highlights 4. Conclusion 5. Q&A
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4 Q3 2025 Highlights
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5 $31,482 $23,962 $19,784 $28,500 $23,500 $20,500 LR2 MR HM Q3-25 Q4-25 as of October 28, 2025 44% 46% 35% % of Days Booked Financial Results • Adjusted EBITDA of $148.1 million (1) • Adjusted net income of $72.7 million or $1.56 basic and $1.49 diluted earnings per share (1) 5% Increase in the Quarterly Dividend • The Company increased its quarterly dividend to $0.42 per share, a 5% increase, which will be paid in December 2025. Notice to Prepay Scheduled Loan Amortization through 2027 • In October 2025, the Company reached agreements with the lenders on certain of its secured credit facilities to make unscheduled prepayments totaling $154.6 million in aggregate. • This amount represents the remaining scheduled principal amortization due under the Company‘s credit facilities for 2026 and 2027. These prepayments are expected to occur in the fourth quarter of 2025 andare expected to reduce the Company’s break-even levels to $11,000 per day. Time Charter-Out Agreements • In August 2025, the Company commenced a time charter-out agreement on an LR2 product tanker, STI Orchard, for a term of five years at a rate of $28,350 per day. • In October 2025, the Company entered into a time charter-out agreement on an LR2 product tanker, STI Spiga, for a term of one year at a rate of $35,000 per day. Vessel Sales • In September 2025, the Company entered into agreements to sell two 2019 built scrubber-fitted LR2 product tankers for $61.2 million per vessel and one 2020 built scrubber-fitted MR product tanker for $42.0 million. • After the sale of these vessels, the unscheduled repayment of debt and lease, and the receipt of the October’s monthly cash distribution from the Scorpio pools, the Company will have pro-forma cash and cash equivalents of $626.2 million, and pro-forma net debt of $33.9 million. • The sales of these vessels are expected to close within the fourth quarter of 2025. Investment in DHT • During the third quarter of 2025, the Company sold 4,778,000 common shares of DHT Holdings Inc. (“DHT”) at an average price of $12.50 per share. • In October, the Company sold an additional 502,686 common shares at an average price of $12.71 per share. • The Company owns 3,551,794 common shares of DHT as of October 28, 2025. Financial Highlights 1) Please see the explanation of Non-IFRS Measures in the Company’s earnings release 2) Includes Vessels on Time Charter (2) $USD per share Dividend Quarterly TCE Rates $USD per day $0.42 $0.00 $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 $0.35 $0.40 $0.45 Q1-20 Q3-20 Q1-21 Q3-21 Q1-22 Q3-22 Q1-23 Q3-23 Q1-24 Q3-24 Q1-25 Q3-25
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6 Product Tanker Market
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7 -1.0 -0.5 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25e Diesel Gasoline Jet Naphtha Fuel Oil $0 $2 $4 $6 $8 $10 $12 $14 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 100 110 120 130 140 150 160 170 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 5Y Range Previous 5Y AVG 2025 $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 LR2 Eco-Middle East to Japan MR Eco-Avg Earnings Short Term Market Update Million barrels Monthly MR & LR2 Spot Rates (1) $USD per day US Distillate Inventories (3) Global Refining Margins (2) $USD per barrel 1) Clarksons Shipping Intelligence, October 2025 2) Energy Aspects, October 2025 3) EIA, October 2025 Change in Global Refined Product Demand (2) Million barrels per day, Base 2023
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8 19.6 18.8 19.6 19.8 18.7 19.0 19.7 18.9 18.9 19.4 20.1 20.4 20.2 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 7.1 10.1 10.6 10.7 9.3 6.9 5.4 5.7 8.4 9.9 5.6 2.5 0 2 4 6 8 10 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25e Nov-25e Dec-25e Asia Pacific North America Europe Latin America FSU Middle East Africa Seaborne Exports Remains Strong Despite Heavy Refinery Maintenance 1) Energy Aspects, October 2025 2) Vortexa, October 2025 Refinery Maintenance (1) Million barrels per day Seaborne Refined Product Exports (Excluding Russia) (2) Million barrels per day
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9 -50 0 50 100 150 200 250 300 350 400 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 USG-Brazil TCE Rate (LHS) Brazilian Russian CPP Imports (RHS) 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 2.0 Planned Unplanned Russian Refined Product Exports Decline (1) Millions barrels per day 0.5 1.0 1.5 2.0 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Thousand barrels per day Lower Russian Exports Are Benefiting Non-Sanctioned Vessels Atlantic MR Rates Rise as Brazilian Imports from Russia Decline (1)(3) $/day Increase in Russian Refinery Outages due to Drone Attacks (2) Millions barrels per day 1) Vortexa, October 2025 2) Energy Aspects, October 2025 3) Clarksons Shipping Intelligence, October 2025
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10 12.1% 8.1% 14.5% 33.9% 12.1% 17.1% 16.0% 17.9% 16.3% 0 100 200 300 400 500 600 HM MR LR2 Aframax LR1 Suezmax VLCC Product Tanker Crude Tanker 20.9 19.6 18.0 19.3 19.4 21.0 20.9 16 17 18 19 20 21 22 HM MR LR2 Aframax LR1 Suezmax VLCC Sanctions are Making Oil & Product Exports More Difficult 1) Vortexa, October 2025 2) OFAC, OFSI, European Commission, Voretxa, Clarksons Shipping Intelligence, October 2025. 1,077 1,052 1,254 68 41 36 144 21 17 20 500 600 700 800 900 1,000 1,100 1,200 1,300 1,400 Five Year Avg Crude on Water Oct 2024 Iran Venezuela Russia Iran, Russia & Venezuela Brazil Saudi Arabia ROW Crude on Water Oct 2025 Rising Crude-on-Water Volumes Led by Sanctioned Countries (1) Million barrels per day Age Sanctioned Tanker VesselsAverage Age (2) Sanctioned Vessels by Selected Classes (2) Sanctioned fleet as % of the corresponding active fleet
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11 176 206 188 207 246 253 140 145 538 0 100 200 300 400 500 600 2020 2021 2022 2023 2024 2025 ytd Refinery Closures Potential Imports PADD 5 Imports Phillips 66 LA Refinery Valero Benicia Refinery Refinery Closures Drives Ton-Mile Demand Net Refining Additions from 2020-2025 (1) Million barrels per day 1) Energy Aspects, October 2025 2) Vortexa, October 2025 0.74 0.59 0.24 0.18 0.10 -1.07 -1.06 -1.17 0.31 1.77 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 US West Coast Imports Could Double After Upcoming Refinery Closures (1)(2) Thousand barrels per day
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12 $0.59 $0.74 $1.25 $1.84 $2.90 $6.03 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 HM MR LR1/PMAX LR2/AMAX LR3/SMAX VLCC 3.5% 3.9% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% Exports Imports China Port Fees Have Minimal Impact On Refined Product Trade China’s Special Port Fees Effective from 14 October 2025 (1) 1) Ministry of Transport of PRC, October 2025 2) Vortexa, October 2025 3) Conversion uses USD/RMB exchange rate as of 21 October 2025 and rounded to the nearest dollar 4) Net ton figures assume HM (10,458), MR (13,224), LR1/PMAX (22,331), LR2/AMAX (32,871), LR3/SMAX (51,765), VLCC (107,704) • In response to USTR Section 301, Chinas Ministry of Transport has announced and implemented “Special Port Fees” on U.S. vessels calling at Chinese ports Special Port Fees apply to vessels that meet any of the following criteria: • Owned or operated by U.S. enterprises, organizations or individuals • Owned or operated by entities in which U.S. interests hold 25% or more equity (including voting rights or board representation) • Flying the U.S. flag • Built in the United States However, several exemptions and limitations are established: • Vessels built in China are exempt • Ballast vessels entering Chinese shipyards solely for repairs are exempt • Other vessels may be exempted as determined by maritime authorities • The fee applies only at the first Chinese port of call during a voyage • Each vessel will be charged for no more than five voyages per year Fee Structure (3) • From 14 October 2025: $56 per net ton • From 17 April 2026: $90 per net ton • From 17 April 2027: $124 per net ton • From 17 April 2028: $157 per net ton $USD millions Est. Chinese Port Fees for U.S. Linked Vessels (14 October 2025) (3) (4) China’s Share of Global CPP Exports and Imports Since 2016 (2) % of global total
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13 HM, 2.1% MR, 36.2% LR1, 13.7% LR2, 47.9% HM MR LR1 LR2 18% 0% 10% 20% 30% 40% 50% 60% 70% Dec-00 Dec-01 Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Newbuilding Orders Have Slowed & 49% of LR2 Fleet is Trading Crude Oil Product Tanker Orderbook as % of the Fleet (1) % of fleet Product Tanker Orderbook By Vessel Class (1) % of total orderbook Vessels Ageing Out of the Fleet Newbuild Ordering Has Slowed (1) % of LR2 Fleet Trading in Crude Oil & Dirty Products (2) Number of vessels % trading dirty 1) Clarksons Shipping Intelligence, October 2025 2) Oil Brokerage, October 2025 58 105 113 183 180 179 431 188 111 28 64 62 106 255 95 154 22 116 81 77 69 75 71 227 283 44 0 50 100 150 200 250 300 350 400 450 500 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 MR LR1 LR2 49% 35% 37% 39% 41% 43% 45% 47% 49% 51% 53% 55% % Trading Dirty
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14 3.9% 4.6% 6.2% 9.1% 13.7% 17.8% 20.8% 24.8% 30.9% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 0 200 400 600 800 1000 1200 1400 2020 2021 2022 2023 2024 2025e 2026e 2027e 2028e HM MR LR1 LR2 20+ % of active fleet (RHS) 123.1 112.2 106.5 88.3 87.9 83.8 74.1 57.4 36.3 32.1 5.6 6.8 9.8 8.5 8.2 6.3 8.8 28.7 32.8 27.5 128.8 119.0 116.3 96.8 96.1 90.1 82.9 86.0 69.1 59.7 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 2016 (12) 2017 (13) 2018 (14) 2019 (15) 2020 (16) 2021 (17) 2022 (18) 2023 (19) 2024 (20) 2025 (21) Non-Russia Russia Post Russian Sanctions (3) 2004 Built Product Tanker CPP Ton Mile by Year & Age (1)(2) Billion ton miles Year (Age of Vessel in Year) Lower Effective Fleet Growth Due to Decreased Utilization of Ageing Vessels Vessels At or Above 20 Years Old (2) Number of vessels 1) Vortexa, October 2025 2) Clarksons Shipping Intelligence, October 2025 3) Figures for the full year have been prorated based on the first 10 months of actual data.
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15 Product Tanker Fleet Growth & Ton Mile Demand Product Tanker Fleet Growth (1) Fleet growth 80 85 90 95 100 105 110 115 120 125 130 Ton Mile Demand (Excl. Russia) Ton Mile Demand (Incl. Russia) 1) Clarksons Shipping Intelligence, October 2025. Supply slippage on scheduled newbuilding deliveries of 30% for 2025, and of 20% for 2026-2027. Scenario 1 scrapping assumptions: 2025(1.2million dwt), 2026-2027 (25-year average of 1.9% of the fleet per year or average 3.8million dwt per year). Scenario 2 assumes scenario 1 assumptions and 60% of LR2 newbuilds trade in clean petroleum products. Scenario 3 assumes 60% of LR2 newbuilds trade in clean petroleum products, and a 30% tonnage reduction for all vessel at age 20, plus an additional 10% per year from age 21 to 27 due to the lower utilization. 2) Vortexa, October 2025 5.0% 4.4% 4.5% 3.6% 3.4% 3.4% 0.7% 1.3% 0.4% 2025e 2026e 2027e Scenario 1 Scenario 2 Scenario 3 Ton Mile Demand Since 2019 (2) Index = 100, Base January 2019
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16 Financial Highlights
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17 Financial Highlights & Strong Liquidity Position Q3-25 Financial Highlights (1) $USD millions 1) Please see the explanation of Non-IFRS Measures in the Company’s earnings release 2) Operating cash flow before changes in working capital 3) Excludes investment in DHT Cash & Liquidity (3) $USD millions (2) $232.9 $148.1 $135.5 $84.5 $72.7 $27.8 $20.4 $0 $50 $100 $150 $200 $250 TCE Revenue Adj. EBITDA Operating Cash Flow Net Income Adj. Net Income Debt Repayments Dividends $627 $627 $247 $247 $500 $500 $41 $41 $1,415 $0 $300 $600 $900 $1,200 $1,500 Cash & Cash Equivalents as of October 28, 2025 $1 Billion Credit Facility – Revolver Availability Feb 2025 Revolving Credit Facility 2023 $225.0 Million Revolving Credit Facility Total Cash & Liquidity Cash & Cash Equivalents as of October 28, 2025 $1 Billion Credit Facility – Revolver Availability Feb 2025 Revolving Credit Facility 2023 $225.0 Million Revolving Credit Facility
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18 Optimizing Balance Sheet through Lower Leverage & Cost of Debt Net Debt $USD millions * Amounts reflect the balances as of October 28, 2024, adjusted for the announced sales of three vessels that are expected to close within the fourth quarter of 2025, the announced lease and credit facility prepayments which are expected to occur in the fourth quarter of 2025 and first quarter of 2026, and October’s monthly cash distribution from the Scorpio pools. Outstanding Indebtedness by Type $USD millions From Dec 31, 2021 through September 30, 2025, Reduced Overall Indebtedness by ~$2.3 billion (net of new drawdowns) including ~$2.2 billion of Lease Financing $2,242 $1,657 $433 $75 $68 $67 $574 $230 $1,115 $733 $629 $615 $460 $70 $71 $71 $71 $200 $200 $200 $3,164 $1,958 $1,618 $878 $897 $882 $660 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Sep 30, 2025 Oct 28, 2025 Oct 28, 2025 pro-forma* Lease Financing Bank Facilities Unsecured Notes Convertible Bonds $3,164 $1,958 $1,618 $878 $897 $882 $660 -$230 -$377 -$356 -$333 -$603 -$627 -$626 $2,933 $1,581 $1,263 $546 $293 $255 $34 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Sep 30, 2025 Oct 28, 2025 Oct 28, 2025 pro-forma* Gross Debt Outstanding Cash & Cash Equivalents
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19 Debt Repayment Schedule Debt Repayment & Drydock Schedule $USD millions Completed & Estimated Drydock Schedule Number of vessels 10 8 3 4 2 3 2 2 0 2 4 6 8 10 12 Q1-25 Q2-25 Q3-25 Q4-25e Q1-26e Q2-25e Q3-26e Q4-26e LR2 MR HM $14.8 $46.8 $18.9 $8.9 $0.4 $154.6 $225.1 $19.3 $0.0 $0.0 $0.0 $0.0 $0.0 $50.0 $100.0 $150.0 $200.0 $250.0 Q4-25 Q1-26 Q2-26 Q3-26 Q4-26 2027 Payments made through October 28, 2025 Unscheduled Prepayments Scheduled repayments Announced Prepayments
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20 Potential Annual Cash Flow Generation After Scheduled Debt Amortization (1)Company Fleet TCE Rates Significant Operating Leverage & Earnings Potential 1) Annual cash flow generation is calculated as TCE Rate x 365 days x 96 vessels less vessel cash breakeven. Estimated cash breakeven of $11,000 per day. The cash flow per share is based upon 51.8 million shares outstanding as of October 29, 2025. Includes $66.6m in scheduled secured debt repayments from Q1-26 to Q4-26 which is in the Company’s Q3-25 earnings release. $USD millions$USD per day $315 $666 $1,016 $1,367 $1,717 $6.1/Share $12.9/Share $19.6/Share $26.4/Share $33.2/Share $20,000 $30,000 $40,000 $50,000 $60,000 $0 $8,000 $16,000 $24,000 $32,000 $40,000 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 - Nine Months Ended Company Achieved TCE Rate Cash Breakeven
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21 Conclusion
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22 Company • One of the largest product tanker fleets in the world • 96 Eco (fuel-efficient) vessels on the water • Fully delivered fleet with an average age of 9.7 years • No newbuildings on order = $0 newbuild capex • Significant Operating Leverage • A $10,000/day increase in average daily freight rates could generate ~$350 million of incremental annualized cash flow Industry & Outlook • Significant increase in product tanker rates since Q1-22 • Robust product demand and low inventories has led to record levels of seaborne exports • Refinery closures and additions continue to reshape global trade flows and increase ton miles • Modest fleet growth with aging fleet Strategy • Reduce leverage, maintain liquidity and return capital to shareholders • Strong Balance Sheet • Reduced overall indebtedness by ~$2.3 billion from Dec 31, 2021, through September 30, 2025 • Share Repurchases & Dividends • From January 1, 2023 through September 30, 2025 the Company repurchased $826 million of its shares and paid $202 million in dividends New Slide Investment Highlights
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23 Vessel Vessel Class Term Average Rate ($/day) Commencement date STI Battersea HM Two Years $24,000 April-25 STI Duchessa MR Three Years $25,000 October-22 STI Jardins MR Three Years $29,550 October-24 STI Memphis MR 75-120 days $21,500 August-25 STI Bosphorus (1) MR Twelve Years $21,000 August-25 STI Magnetic MR 75-120 days $21,500 August-25 STI Miracle MR 75-120 days $21,500 August-25 STI Lombard LR2 Three Years $32,750 September-22 STI Grace LR2 Three Years $37,500 December-22 STI Jermyn LR2 Three Years $40,000 April-23 STI Orchard LR2 Five Years $28,350 August-25 STI Spiga LR2 One Year $35,000 November-25 (2) STI Lavender LR2 Three Years $35,000 December-22 STI Guard LR2 Five Years $28,000 July-22 STI Gauntlet LR2 Three Years $32,750 November-22 STI Gratitude LR2 One Year $31,000 May-25 STI Guide LR2 One Year $31,000 July-25 STI Gladiator LR2 One Year $31,000 July-25 Chartered Out Vessels For additional terms and conditions of these time charters, including optional periods, please see the fleet list published in the Company’s Q3-25 earnings release 1) This vessel entered into a bareboat charter-out agreement at bareboat rate of $13,150 per day (which is equivalent to a time cha rter-equivalent rate of approximately $21,000 per day). The contract will remain in effect until the vessel reaches 20 years of age, which will occur in 2037, and is subject to annual renewal. 2) The time charter-out for this vessel is expected to commence in November 2025.
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24 Q&A
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