Slides
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January 14, 2026 Scorpio Tankers Inc. Capital Link 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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Table of Contents The Company Product Tanker Market Financials Appendix
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4 The Company
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5 NYSE Listed Ticker Market Cap (2) BILLION $USD STNG $2.9 Vessels on the Water (1) Net Debt (3) NUMBER MILLION $USD 93 ($383) Fleet Average Age (1) TTM EBITDA YEARS MILLION $USD 9.8 $522 Newbuilding Vessels Daily Trading Liquidity (2) NUMBER MILLION $USD 8 $55 Scorpio Tankers At a Glance • Scorpio Tankers Inc. (“Scorpio”) is the world’s largest product tanker owner, providing marine transportation of refined petroleum products (gasoline, diesel, jet fuel and naphtha) • Vessels employed in well-established Scorpio pools with a strong track record of outperforming the market • Headquartered in Monaco, Scorpio is incorporated in the Marshall Islands and is not subject to US income tax • Diversified blue-chip customer base Key Facts Our Customers 1) Excludes four vessels that are currently held for sale. 2) Bloomberg, January 2026 3) Pro forma as of January 09, 2026 4) Adjusted EBITDA of $105.1 for the 3 months ended December 31, 2024 and $416.4 million for the nine months ended September 30, 2025.
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6 Company • One of the largest product tanker fleets in the world • 93 Eco (fuel-efficient) vessels on the water with an average age of 9.8 years (1) • Significant Operating Leverage • A $10,000/day increase in average daily freight rates could generate ~$340 million of incremental annualized cash flow (1) 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 • Limited fleet growth with modest orderbook and aging fleet • Seaborne exports and ton mile demand expected to outpace supply Strategy • Our strategy is to operate a high-quality fleet supported by a strong balance sheet, enabling us to generate attractive returns and return capital to shareholders across the cycle • Strong Balance Sheet • Reduced overall indebtedness by ~$2.5 billion from Dec 31, 2021, through January 09, 2026 • 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 1) Includes four vessels that are currently held for sale.
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7 Fleet average age Clarksons Shipping Intelligence, January 2026 Figures exclude newbuild vessels on order and chemical tankers. Scorpio fleet includes four vessels that are currently held for sale. Scorpio Average Age vs Worldwide FleetScorpio’s Fleet vs. Peers Largest and Most Modern Product Tanker Fleet in the World Number of vessels 14 42 37 36 42 47 55 69 75 89 93 Peer 7 Peer 6 Peer 5 Peer 4 Peer 3 Peer 2 Peer 1 Scorpio HM MR LR1 LR2 11.3 9.1 10.0 18.3 13.3 10.7 0.0 4.0 8.0 12.0 16.0 20.0 Handymax MR LR2 Scorpio Tankers World Active Fleet
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8 3 6 11 11 16 32 73 78 96 119 123 135 132 119 112 108 93 90 $35.0 $36.5 $35.5 $34.0 $34.8 $36.8 $35.5 $32.5 $33.8 $36.5 $35.8 $34.0 $41.0 $43.5 $47.5 $52.0 $49.0 $49.5 $30.0 $35.0 $40.0 $45.0 $50.0 $55.0 0 20 40 60 80 100 120 140 160 Average Number of Vessels MR Newbuild Price ($m) 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Dec-25 Q1-26 Scorpio Tankers Inc. is incorporated in the Republic of the Marshall Islands IPO on the NYSE under the ticker “STNG” Orders first ‘Eco” spec product tanker Took delivery of the STI Amber, the first ‘Eco’ vessel in the fleet Acquisition of 19 ‘Eco’ product tankers from Trafigura Maritime Logistics Sells 7 VLCC newbuildings to Gener8, recognizing a total gain of $50 million Sells 11 VLGC newbuildings to Dorian LPG for 30% of the company Acquisition 27 ‘Eco’ product tankers from Navig8, making Scorpio the world’s largest LR2 owner Orders series of ‘Eco’ Handymax, MR and LR2 product tankers at Korean shipyards Sells shares in Dorian LPG, recognizing a total gain of $39.6m on the VLGC investment Sells 18 vessels: 3 LR2s, 12 LR1’s and 3 MR product tankers Sells 2 MR product tankers Sells 12 vessels: 1 LR2 and 11 MR product tankers Announces the decision to install exhaust gas cleaning systems “scrubbers” on a majority of its fleet Sells 10 vessels: 5 MR and 5 LR2 product tankers (3) 1) Average number of vessels owned, finance leased and bareboat chartered in during the year. 2) Clarksons Shipping Intelligence, January 2026 3) Fleet numbers are presented on a pro-forma basis and exclude one vessel which is currently held for sale and newbuildings on order. Company History & Timeline Orders 8 ‘Eco’ vessels: 2 LR2 , 4 MR and 2 VLCC tankers Sells 1 2015 build LR2 vessel for $57.5 million By end of Q1 the Company will have 89 ‘Eco’ product tankers on the water (1) (2) Fleet Size
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9 Product Tanker Market
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10 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 Average Weighted Clean Product Tanker Earnings Product Tanker Earnings Remain at Historically High Levels $USD per day Clarksons Shipping Intelligence, January 2025 Product Tanker Earnings 2002-2008: China joins WTO, commodity super cycle, elevated rates and fleet growth 2015: Crude prices collapse and tanker rates increase 2019: Preparation for IMO 2020 2020: COVID-19 floating storage and Saudi- Russia oil price war 2022: Russia invades Ukraine 2023-2024: Red Sea crisis 2021: COVID-19 recovery 2008: Financial crisis 2001: Tech bubble & September 11th
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11 Rising Demand Drives Increase in Seaborne Product Exports 1) Energy Aspects, January 2026 2) Vortexa, January 2026 Global Refined Product Demand (1) Million barrels per day, Base 2025 Seaborne Refined Product Exports (2) Million barrels per day 16.0 17.0 18.0 19.0 20.0 21.0 22.0 23.0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Previous 5Y Range 2025 CPP Exports Previous 5Y AVG 28.8 26.7 28.0 29.3 29.4 29.2 29.4 29.6 26.3 23.3 25.6 26.0 26.8 27.2 27.4 27.7 8.0 4.8 5.4 6.3 7.3 7.8 8.0 8.2 7.7 7.4 8.0 7.8 8.2 8.5 8.4 8.8 70.8 62.3 67.1 69.4 71.8 72.6 73.3 74.2 0.0 20.0 40.0 60.0 80.0 2019 2020 2021 2022 2023 2024 2025 2026e Diesel Gasoline Jet Naphtha
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12 1.0 0.6 0.7 0.2 0.1 -1.0 -1.1 -1.3 1.4 2.09 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 Refinery Closures Drives Ton-Mile Demand Net Refining Additions from 2020-2026 (1) Million barrels per day 1) Energy Aspects, January 2026 2) Vortexa, January 2026 176 206 188 206 249 301 159 145 553 0 100 200 300 400 500 600 2020 2021 2022 2023 2024 2025 Refinery Closures Potential Imports PADD 5 Imports Phillips 66 LA Refinery Valero Benicia Refinery Potential Imports USWC Refinery Closures To Generate Import Demand (1)(2) Thousand barrels per day
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13 1.7 1.7 1.5 1.5 1.6 1.5 1.5 1.3 1.2 1.1 1.4 1.6 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 2.0 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Med NE Asia EC South America WAF SE Asia Other 2.6 2.2 1.3 0.8 0.8 0.7 0.7 0.6 0.6 0.6 0.6 0.7 0.6 0.9 0.7 0.7 0.9 1.1 0.9 1.1 1.2 1.2 1.3 1.3 1.3 1.4 0.5 0.4 1.1 2.0 2.3 2.4 2.1 2.3 2.1 2.3 2.3 2.7 1.6 1.6 1.9 2.0 1.5 1.8 1.6 1.3 1.8 1.9 2.0 1.8 1.4 1.1 3.2 2.7 2.4 2.7 3.1 3.1 2.8 2.9 2.7 2.9 3.0 3.3 2.2 2.4 2.6 2.7 2.5 3.0 2.5 2.4 3.0 3.1 3.3 3.1 2.7 2.5 0 0.5 1 1.5 2 2.5 3 3.5 4 Nov-23 Dec-23 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 Nov-25 Dec-25 Via Bab-el-Mandeb Via COGH Geopolitics Driving Ongoing Shifts in Global Product Flows 1) Vortexa, January 2026 Refined Product Volumes Via Cape of Good Hope & Bab-el-Mandeb (1) Million barrels per day Russian Clean Petroleum Product Exports by Destination(1) Million barrels per day
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14 Potential Aframax/LR2 Demand Growth from Renewed Venezuelan Exports to U.S. 0.7 0.7 0.4 0.1 0.1 0.1 0.0 0.2 0.2 0.2 0.7 0.6 0.5 0.4 0.1 0.1 0.2 0.2 0.3 0.5 0.1 0.1 0.2 0.2 0.1 0.1 0.1 0.0 0.1 0.0 0.1 0.1 1.7 1.5 1.1 0.7 0.3 0.2 0.4 0.4 0.6 0.7 - 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 2.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Aframax / LR2 VLCC+ Panamax / LR1 Suezmax / LR3 439 379 280 22 115 208 114 64 69 73 4 515 454 358 27 117 215 117 0 200 400 600 2016 2017 2018 2019 2023 2024 2025 Aframax / LR2 Panamax / LR1 Suezmax / LR3 Venezuela Crude Exports to US 11 23 34 46 57 69 0 10 20 30 40 50 60 70 80 500 kb/d 1 mb/d 1.5 mb/d 2 mb/d 2.5 mb/d 3 mb/d Venezuela Crude to Rest of World by Ship Type (1) Million barrels per day Venezuela Crude to U.S. by Ship Type(1) Thousand barrels per day Incremental Aframax/LR2 Demand if Venezuelan Exports go to U.S. Number of vessels 1) Vortexa, January 2026
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15 HM, 1.8% MR, 34.7% LR1, 13.2% LR2, 50.3% HM MR LR1 LR2 19% 0% 10% 20% 30% 40% 50% 60% 70% Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 53% 47% 40% 45% 50% 55% 60% Jan-23 Jun-23 Nov-23 Apr-24 Sep-24 Feb-25 Jul-25 Dec-25 % Trading Crude/Dirty Petroleum Products % Trading Clean Petroleum Products 3.7% 4.4% 6.1% 8.9% 13.4% 17.9% 20.8% 24.7% 30.5% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 2020 2021 2022 2023 2024 2025 2026e 2027e 2028e 2020 2021 2022 2023 2024 2025 2026e 2027e 2028e Limited Fleet Growth with Modest Orderbook and Aging Fleet Product Tanker Orderbook as % of the Fleet (1) % of fleet Product Tanker Orderbook By Vessel Class (1) % of total orderbook Product Tanker Vessels Above 20 Years Old (1) % of LR2 Fleet Trading in Crude Oil & Dirty Products (2) Number of vessels % of fleet 1) Clarksons Shipping Intelligence, January 2026 2) Oil Brokerage, January 2026
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16 21.8 21.9 20.2 20.8 21.1 19 20 21 22 23 VLCC Suez/LR3 Afra/LR2 Pana/LR1 MR/Handy Fleet Growth Likely Overstated Due to Ageing & Sanctioned Vessels 1) OFAC, OFSI, European Commission, Voretxa, Clarksons Shipping Intelligence, January 2026. 2) Clarksons Shipping Intelligence, January 2026 17.1% 17.6% 25.7% 13.0% 9.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% VLCC Suez/LR3 Afra/LR2 Pana/LR1 MR/Handy 20 264 66 214 289 637 186 415 0 100 200 300 400 500 600 700 HM MR LR1 Afra/LR2 On Order 20+ year end 2026 20+ year end 2027 20+ year end 2028 Vessels Aged 20 Years and Older Exceed Newbuilds on Order(2) Number of vessels Sanctioned Tankers as a Share of the Global Fleet (1) Sanctioned fleet as % of active fleet Sanctioned Tanker Vessels Average Age (1) Age
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17 80 85 90 95 100 105 110 115 120 125 130 Ton Mile Demand (Excl. Russia) Ton Mile Demand (Incl. Russia) Product Tanker Fleet Growth & Ton Mile Demand Product Tanker Fleet Growth (1) Fleet growth 1) Clarksons Shipping Intelligence, January 2026. Supply slippage on scheduled newbuilding deliveries of 20% for 2026-2028. Scenario 1 scrapping assumptions: 2026-2028 (25-year average of 1.8% of the fleet per year or average 3.7million 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 u tilization. 2) Vortexa, January 2026 Ton Mile Demand Since 2019 (2) Index = 100, Base January 2019 4.3% 5.2% 2.0% 3.2% 3.9% 1.3% 1.0% 0.7% -3.5% 2026e 2027e 2028e Scenario 1 Scenario 2 Scenario 3
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18 Financials
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19 $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 $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 Financial Highlights 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 (2) Maintained dividend through COVID-19 Sustainable & Increasing Dividend $USD per share
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20 $14.2 $26.7 $57.6 $14.2 $59.2 $212.6 $188.3 $40.9 $57.6 $14.2 $59.2 $212.6 $188.3 $0.0 $50.0 $100.0 $150.0 $200.0 $250.0 Q1-26 Q2-26 Q3-26 Q4-26 2027 2028 Paid Remaining $992 $992 $255 $255 $500 $500 $29 $29 $1,776 $0 $300 $600 $900 $1,200 $1,500 $1,800 Cash & Cash Equivalents as of January 09, 2026, pro-forma* $1 Billion Credit Facility – Revolver Availability Feb 2025 Revolving Credit Facility 2023 $225.0 Million Revolving Credit Facility Total Cash & Liquidity 2023 $225.0 Million Revolving Credit Facility Feb 2025 Revolving Credit Facility $1 Billion Credit Facility – Revolver Availability Cash & Cash Equivalents as of January 09, 2026, pro-forma* Strong Liquidity Position and Modest Newbuilding Commitments Newbuilding Commitments $USD millions * Amounts reflect the balances as of January 09, 2026, adjusted for the announced sales of four vessels that are expected to close within the first or second quarter of 2026, the announced lease and credit facility prepayments which are expected to occur in the first quarter of 2026. Cash & Liquidity $USD millions
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21 $2,242 $1,657 $433 $75 $68 $19 $574 $230 $1,115 $733 $629 $409 $409 $70 $71 $71 $71 $200 $200 $200 $3,164 $1,958 $1,618 $878 $897 $628 $609 $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 Jan 09, 2026 Jan 09, 2026 pro-forma* Lease Financing Bank Facilities Unsecured Notes Convertible Bonds Optimizing Balance Sheet through Lower Leverage & Cost of Debt Net Debt $USD millions * Amounts reflect the balances as of January 09, 2026, adjusted for the announced sales of four vessels that are expected to close within the first or second quarter of 2026, the announced lease and credit facility prepayments which are expected to occur in the first quarter of 2026. Outstanding Indebtedness by Type $USD millions From Dec 31, 2021 through Jan 09, 2026, Reduced Overall Indebtedness by ~$2.5 billion (net of new drawdowns) including ~$2.2 billion of Lease Financing $3,164 $1,958 $1,618 $878 $897 $628 $609 -$230 -$377 -$356 -$333 -$603 -$751 -$992 $2,933 $1,581 $1,263 $546 $293 -$123 -$383 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Sep 30, 2025 Jan 09, 2026 Jan 09, 2026 pro-forma* Gross Debt Outstanding Cash & Cash Equivalents
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22 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 91 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. $USD millions$USD per day $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 $299 $631 $963 $1,295 $1,628 $5.8/Share $12.2/Share $18.6/Share $25.0/Share $31.4/Share $20,000 $30,000 $40,000 $50,000 $60,000
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23 Appendix
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24 Vessel Vessel Class Term Average Rate ($/day) Commencement date STI Battersea HM Two Years $24,000 April-25 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 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 STI Rose (2) LR2 Five Years $29,000 Q1 2026 STI Alexis (2) LR2 Five Years $29,000 Q1 2026 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 the first quarter of 2026.
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