Earnings release
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Scorpio Tankers Inc. Announces FinancialResults for the Third Quarter of 2026 andAn Increase to its Quarterly Dividend Published Oct 28, 2026 6:45am EDT MONACO, Oct. 28, 2026 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers" or the "Company") today reported its results for the three and nine months ended September 30, 2026. The Company also announced that its board of directors (the "Board of Directors") has declared a quarterly cash dividend on its common shares of $0.75 per share. Results for the three months ended September 30, 2026 and 2025 For the three months ended September 30, 2026, the Company had net income of $224.3 million, or $4.91 basic and $4.60 diluted earnings per share. For the three months ended September 30, 2026, the Company had adjusted net income (see Non-IFRS Measures section below) of $127.4 million, or $2.79 basic and $2.49 diluted earnings per share, which excludes from net income (i) a $152.6 million gain on sales of vessels and (ii) a $55.6 million fair value loss on financial liabilities measured at fair value. For the three months ended September 30, 2025, the Company had net income of $84.5 million, or $1.81 basic and $1.73 diluted earnings per share. For the three months ended September 30, 2025, the Company had adjusted net income (see Non-IFRS Measures section below) of $72.7 million, or $1.56 basic and $1.49 diluted earnings per share, which excludes from net income (i) a $12.7 million fair value gain on financial assets measured at fair value and (ii) a $0.9 million loss on the extinguishment of debt and write-offs of deferred financing fees. Results for the nine months ended September 30, 2026 and 2025 For the nine months ended September 30, 2026, the Company had net income of $828.1 million, or $17.92 basic and $16.70 diluted earnings per share. For the nine months ended September 30, 2026, the Company had adjusted net income (see Non-IFRS Measures section below) of $521.9 million, or $11.30 basic and $10.14 diluted earnings per share, which excludes from net income (i) a $372.6 million gain on sales of vessels, (ii) a $20.7 million write-off of deferred financing fees and debt extinguishment costs (which includes $12.8 million for the make-whole premium on the redemption of the Company’s Senior Unsecured Notes Due 2030), (iii) a $41.8 million fair value loss on financial liabilities measured at fair value, and (iv) $4.0 million of transaction costs related to the second quarter issuances of the Company's Convertible Senior Notes due 2031 (the "Convertible Notes") (described below).
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For the nine months ended September 30, 2025, the Company had net income of $216.2 million, or $4.66 basic and $4.46 diluted earnings per share. For the nine months ended September 30, 2025, the Company had adjusted net income (see Non-IFRS Measures section below) of $189.5 million, or $4.09 basic and $3.91 diluted earnings per share, which excludes from net income (i) a $29.7 million fair value gain on financial assets measured at fair value and (ii) a $3.0 million loss on the extinguishment of debt and write-offs of deferred financing fees. Declaration of Dividend On October 26, 2026, the Board of Directors declared a quarterly cash dividend of $0.75 per common share, with a payment date of December 4, 2026 to all shareholders of record as of November 13, 2026 (the record date). As of October 26, 2026, there were 51,078,851 common shares of the Company issued and outstanding. Summary of Third Quarter 2026 and Other Recent Significant Events Below is a summary of the average daily Time Charter Equivalent ("TCE") revenue (see Non-IFRS Measures section below) and duration of contracted voyages and time charters for the Company's vessels (both in the pools and outside of the pools) thus far in the fourth quarter of 2026 as of the date hereof (See footnotes to "Other financial and operating data" table below for the definition of daily TCE revenue): Pool and Spot Market Time AverageDailyTCERevenue ExpectedRevenueDays(1) % ofDays AverageDailyTCE LR2 $ 181,000 1,025 44 % $ MR $ 56,000 2,919 47 % $ Handymax$ 40,000 1,183 37 % $ (1) Expected Revenue Days are the total number of calendar days in the quarter for each vessel, less the toExpected Revenue Days represent the total number of days the vessel is expected to be available to eaincluded in Expected Revenue Days. The Company uses Expected Revenue Days to show changes in n Below is a summary of the average daily TCE revenue earned by the Company's vessels during the third quarter of 2026: Average Daily TCE Revenue Vessel class Pool / Spot Time Charters Daily BareboatCharter Rate LR2 $ 72,283 $ 30,513 $ — MR $ 31,183 $ 27,551 $ 12,986 Handymax $ 24,253 $ 22,903 $ —
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In August and September of 2026, the Company signed agreements to purchase a total of four scrubber-fitted LR2 newbuilding product tankers for $72.8 million per vessel. The vessels are being constructed by Jiangsu Hantong Ship Heavy Industry Co., Ltd. in China with the delivery of one vessel expected in each of the second and third quarters of 2029 and the delivery of two vessels expected in the fourth quarter of 2029. In September 2026, the Company signed an agreement to purchase two scrubber-fitted Very Large Crude Carriers ("VLCCs") for $135.0 million per vessel. The vessels are to be constructed by Hengli Shipbuilding (Dalian) Co., Ltd. in China and deliveries are expected in September and October 2028. In July 2026, the Company took delivery of the scrubber-fitted newbuilding MR product tanker, STI Moxie, which was constructed at Jingjiang Nanyang Shipbuilding Co. Ltd. In September 2026, the Company entered into agreements to sell three product tankers comprising the 2014 built scrubber-fitted MR product tanker, STI Dama, for $37.5 million, the 2014 built scrubber-fitted LR2 product tanker, STI Elysees, for $70.0 million, and the 2015 built scrubber-fitted LR2 product tanker, STI Veneto, for $73.0 million. The sale of STI Dama closed in September 2026 and the sales of STI Veneto and STI Elysees are expected to close before the end of 2026. In July 2026, the Company closed on the sales of four LR2 product tankers for $285.8 million in aggregate and one MR for $35.0 million. These sales consisted of two 2014 built LR2 product tankers, STI Broadway and STI Condotti, two 2015 LR2 product tankers, STI Winnie and STI Lauren, and the 2015 built MR product tanker, STI Brooklyn. In July 2026, the Company reached an agreement to charter-out the 2015 built MR product tanker, STI Bronx, for three years at a rate of $23,900 per day. This charter is expected to commence during the fourth quarter of 2026. In August 2026, the Company reached agreements to charter-out the 2016 built LR2 product tanker, STI Jermyn, for three years at a rate of $42,500 per day, the 2017 built LR2 product tanker, STI Gladiator, for three years at a rate of $40,188 per day, and the 2015 built MR product tanker, STI Pontiac, for three years at a rate of $23,900 per day. The charters for STI Gladiator and STI Jermyn commenced in September and October 2026, respectively. The charter for STI Pontiac is expected to commence during the fourth quarter of 2026. In October 2026, the Company purchased 2,400,000 common shares of Volare Shipping Ltd. (“Volare”, ticker “VLCC” on the Euronext Growth Oslo exchange) for $38.4 million as part of Volare's initial public offering. Volare is a Singapore-incorporated shipping company established by one of the world’s largest commodity trading and shipping groups. Volare owns a modern fleet of VLCCs, comprising six VLCCs currently in operation and eight VLCCs under construction. The Company now holds a passive minority interest of approximately 3.4% of Volare’s outstanding common shares. The investment reflects the Company’s constructive outlook on the VLCC market. In July 2026, the Company entered into an agreement pursuant to which it will acquire a minority ownership interest (less than 15%) in a joint venture (the "VLCC Joint Venture") which has entered into shipbuilding contracts to construct eight scrubber-fitted VLCCs with deliveries scheduled between the third quarter of 2029 and the second quarter of 2030. The equity portion of the investment is scheduled to be paid when installment payments become payable pursuant to the shipbuilding contracts. In July 2026, the Company redeemed its outstanding 7.5% Senior Unsecured Notes Due 2030. The notes had an aggregate principal amount outstanding of $200.0 million and were redeemed at a make-whole price of 106.4 to par plus accrued but unpaid interest.
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Securities Repurchase Program The Company did not repurchase any shares of its common stock during the three months ended September 30, 2026. As of October 28, 2026, $445.0 million remains available under the Company's 2023 Securities Repurchase Program. Diluted Weighted Number of Shares The computation of earnings per share is determined by taking into consideration the potentially dilutive shares arising from (i) the Company’s equity incentive plan, and (ii) the Company's Convertible Notes. Potentially dilutive shares are excluded from the computation of earnings per share to the extent they are anti-dilutive. The impact of the Convertible Notes on earnings or loss per share is computed using the if-converted method. Under this method, the Company first includes the potentially dilutive impact of restricted shares issued under the Company's equity incentive plan, and then assumes that its Convertible Notes, which were issued during the second quarter of 2026, were converted into common shares during each period. The if-converted method also assumes that the interest and non-cash amortization expense of $9.0 million and $16.1 million during the three and nine months ended September 30, 2026, respectively, and the fair value change on financial liabilities associated with the Convertible Notes, which are measured at fair value through profit or loss of $55.6 million and $41.8 million, during the three and nine months ended September 30, 2026, respectively, were not incurred. Conversion is not assumed if the results of this calculation are anti-dilutive. The computations of earnings per share are set forth below immediately following the Condensed Consolidated Statements of Income and in the section entitled Non-IFRS Measures. The conversion rate of the Convertible Notes has been adjusted to reflect cash dividends with respect to our common shares. The current conversion rate for the Convertible Notes is 10.0791 common shares per $1,000 principal amount of the Convertible Notes. Conference Call Title: Scorpio Tankers Inc. Third Quarter 2026 Conference Call Date: Wednesday, October 28, 2026 Time: 8:00 AM Eastern Daylight Time and 1:00 PM Central European Time The conference call will be available over the internet, through the Scorpio Tankers Inc. website www.scorpiotankers.com and the webcast link: https://edge.media-server.com/mmc/p/etyipqgc Participants for the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. The conference will also be available telephonically: US/CANADA Dial-In Number: 1-833-636-1321 International Dial-In Number: +1-412-902-4260
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Please ask to join the Scorpio Tankers Inc. call. Participants should dial into the call 10 minutes before the scheduled time. Current Liquidity As of October 26, 2026, the Company had $2.1 billion in unrestricted cash and cash equivalents and $483.2 million of undrawn revolver capacity under the 2025 $500.0 Million Revolving Credit Facility. Additionally, the sales of STI Elysees and STI Veneto for $143.0 million in aggregate are expected to close in the fourth quarter of 2026. Debt Set forth below is a summary of the principal balances of the Company’s outstanding indebtedness as of the stated dates: In thousands ofU.S. Dollars OutstandingPrincipalas ofJune 30, 2026 OutstandingPrincipalas ofSeptember 30,2026 OutstandingPrincipalas ofOctober 26, 2026 1 2026 $50.0Million CreditFacility 50,000 50,000 50,000 2 SeniorUnsecured NotesDue 2030 (1) 200,000 — — 3 ConvertibleNotes due 2031 605,000 605,000 605,000 4 2026 $90.0Million CreditFacility (2) — — — 5 2025 $500.0Million RevolvingCredit Facility — — — Gross debtoutstanding 855,000 655,000 655,000 Cash and cashequivalents 1,838,782 2,042,088 2,051,865 Net cash $ 983,782 $ 1,387,088 $ 1,396,865 (1) In June 2026, the Company issued a redemption notice to redeem its Senior Unsecured Notes Due2030. The notes were redeemed in July 2026 at a make-whole price of 106.4 to par ($212.8 million)plus accrued but unpaid interest. The make-whole premium of $12.8 million was recorded as a debtextinguishment cost during the second quarter of 2026.
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(2) In September 2026, the Company executed the previously announced credit facility with StandardChartered Bank and DekaBank Deutsche Girozentrale for a maximum borrowing amount of up to$90 million (the "2026 $90.0 Million Credit Facility"). The 2026 $90.0 Million Credit Facility, whichremains undrawn, is expected to be used to finance a portion of the purchase price of fourscrubber-fitted MR newbuilding product tankers, one of which was delivered in July 2026 and theremaining three vessels expected for delivery in 2027. The 2026 $90.0 Million Credit Facility has afinal maturity of seven years from the drawdown date of each tranche, bears interest at SOFR plusa margin of 1.20% per annum and accrues commitment fees of 0.42% per annum for undrawnamounts. The Company has until October 31, 2027 to draw down on this facility. Set forth below are the estimated expected future principal repayments on the Company's outstanding indebtedness, which includes principal amounts due under the Company's secured credit facilities and Convertible Notes: In millions of U.S.dollars Repayments/maturitiesofunsecured debt Vessel financings -scheduledrepayments,inaddition tomaturitiesin 2029and thereafter Total asofOctober 26,2026 Q4 2026 $ — $ — $ — Q1 2027 — — — Q2 2027 — — — Q3 2027 — — — Q4 2027 — — — 2028 — 8.7 8.7 2029 and thereafter 605.0 41.3 646.3 $ 605.0 $ 50.0 $ 655.0 Newbuilding Vessels and Joint Venture As of October 26, 2026, the Company had commitments to construct (i) eight scrubber-fitted LR2 product tankers, (ii) five scrubber-fitted MR product tankers and (iii) four scrubber-fitted VLCCs. Additionally, the Company is committed to fund its portion of the minority equity investment in the VLCC Joint Venture, which is scheduled to be funded as installment payments become due under the various shipbuilding contracts. As of October 26, 2026, the Company paid $185.7 million in installment payments related to its newbuildings and the VLCC Joint Venture, including the payments related to STI Moxie, which was delivered in July 2026. The table below summarizes the estimated remaining installment payments and estimated delivery timing for the vessels under construction and the VLCC Joint Venture (which also include actual scheduled payments made from October 1, 2026 through October 26, 2026) (1): Number of vessels expected to bedelivered(excluding vessels in VLCCJoint Venture) In millions of U.S. dollars Amount (2) VLCCs LR2s MRs
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Q4 2026 - paid $ — — — — Q4 2026 - to be paid 45.6 — — — Q1 2027 45.0 — — 1 Q2 2027 104.2 — — 2 Q3 2027 96.9 — 2 — Q4 2027 52.1 — — — 2028 481.9 4 — — 2029 379.2 — 6 — 2030 91.0 — — 2 $ 1,295.9 4 8 5 (1) The installment payments are estimates only and are subject to change as constructionprogresses. (2) Amounts include installment payments under shipbuilding contracts in addition to the Company'scommitment to fund its minority investment in the VLCC Joint Venture. Drydockings and Off-Hire Update Set forth below is a table summarizing the drydocking activity that occurred during the third quarter of 2026 and the estimated expected payments to be made for the Company's drydockings through the end of 2027. This table also includes an estimate of off-hire days for these periods which includes (i) estimated off-hire days for drydockings, and (ii) estimated off- hire time for general repairs. Number of vessels fordrydocking (3) Estimated aggregatedrydockcosts inmillions of USD (1) Estimated aggregateoff-hire days(bothdrydocking andgeneralrepairs) (2) LR2s MRs Handy Q3 2026 -actual $ 6.0 206 4 — Q4 2026 -estimated 11.3 212 2 — Q1 2027 -estimated 9.2 184 3 1 Q2 2027 -estimated — 75 — —
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Q3 2027 -estimated 8.5 182 1 3 Q4 2027 -estimated 1.9 102 — 1 (1) These costs include estimated cash payments for drydocks. These amounts may include costs incuprevious projects for which payments may not be due until subsequent quarters, or payments that areadvance of the scheduled service and may be scheduled to occur in quarters prior to the actual drydoThe timing of the payments set forth are estimates only and may vary as the timing of the related drydfinalize. (2) Represents the total estimated off-hire days during the period for both drydockings and general repairs, invessels that commenced work in a previous period. The number of off-hire days set forth in this taestimates only and actual off-hire days may vary. (3) Represents the number of vessels scheduled to commence drydocking. It does not include vesscommenced work in prior periods but will be completed in a subsequent period. Additionally, the timing sin these tables may vary as drydock times are finalized. Explanation of Variances on the Third Quarter of 2026 Financial Results Compared to the Third Quarter of 2025 For the three months ended September 30, 2026, the Company recorded net income of $224.3 million compared to net income of $84.5 million for the three months ended September 30, 2025. The following were the significant changes between the two periods: TCE revenue, a Non-IFRS measure, is vessel revenues less voyage expenses (including bunkers and port charges). TCE revenue is included herein because it is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance irrespective of changes in the mix of charter types (i.e., spot voyages, time charters, and pool charters), and it provides useful information to investors and management. The following table sets forth TCE revenue for the three months ended September 30, 2026, and 2025: For the three months ended September 30, In thousands of U.S. dollars 2026 2025 Vessel revenue $ 266,467 $ 241,361 Voyage expenses (17,373) (8,440) TCE revenue $ 249,094 $ 232,921 TCE revenue for the three months ended September 30, 2026 increased by $16.2 million to $249.1 million, from $232.9 million for the three months ended September 30, 2025 despite the average number of vessels decreasing to 75.1 during the three months ended September 30, 2026 from 99.0 during the three months ended September 30,
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2025. Overall, the average daily TCE revenue increased to $37,508 per vessel during the three months ended September 30, 2026, from $26,231 per vessel during the three months ended September 30, 2025. TCE revenue for the three months ended September 30, 2026 increased as compared to the three months ended September 30, 2025 on a substantially stronger product tanker market. Spot rates eased from the elevated levels of the second quarter but remained firm and strengthened through the end of the third quarter. Continued disruption from the conflict in the Middle East lengthened refined product voyages and kept the global fleet dislocated, while robust demand, strong refining margins and rising seaborne volumes supported the late-quarter increase. The Company's LR2 vessels benefited most, earning $55,184 per day versus $31,482 in the prior-year period, aided by tight LR2 supply as larger vessels remained employed in crude trades. MR and Handymax rates strengthened as the quarter progressed, supported by increasing export volumes from the U.S. Gulf and Asia. Vessel operating costs for the three months ended September 30, 2026 decreased by $14.0 million to $60.4 million, from $74.3 million for the three months ended September 30, 2025 due to a decrease in the average number of vessels, resulting from the sale of 13 MRs and 13 LR2s since September 30, 2025. Vessel operating costs increased to $8,678 per vessel per day for the three months ended September 30, 2026 from $8,162 per vessel per day for the three months ended September 30, 2025 primarily due to higher crew costs, spares and stores expenses, and lubricating oil expenses. Depreciation expense for the three months ended September 30, 2026 decreased by $11.1 million to $35.2 million, from $46.4 million for the three months ended September 30, 2025. This decrease resulted from 25 vessels being classified as held for sale since September 30, 2025. General and administrative expenses for the three months ended September 30, 2026 increased by $7.4 million to $37.0 million, from $29.6 million for the three months ended September 30, 2025 primarily due to an increase in compensation related costs, including the amortization of restricted stock. Financial expenses for the three months ended September 30, 2026 decreased by $10.3 million to $9.7 million, from $20.0 million for the three months ended September 30, 2025, as a result of a decrease in average indebtedness from $910.6 million during the three months ended September 30, 2025 to $567.6 million in the three months ended September 30, 2026, as well as a decrease in our average cost of debt due to the change in the composition of debt resulting from the issuance of the Convertible Notes and the repayment of our secured credit facilities. In addition, $2.1 million of interest was capitalized related to the installments paid on vessels under construction during the three months ended September 30, 2026 as compared to no capitalized interest during the three months ended September 30, 2025. Amortization of deferred financing fees was $1.1 million during the three months ended September 30, 2026 and $1.8 million during the three months ended September 30, 2025. Dividend income and fair value gain (loss) on financial assets measured at fair value through profit or loss, net for the three months ended September 30, 2025 was a gain of $14.8 million, consisting of a fair value gain of $12.7 million and $2.1 million of dividends related to our investment in DHT Holdings Inc., which was sold in the fourth quarter of 2025. Fair value change on financial liabilities measured at fair value through profit or loss represents the change in the fair value of the embedded conversion derivative associated with our Convertible Notes. The embedded derivative is measured at fair value at each reporting date, with changes in fair value recognized in profit or loss in accordance with IFRS. The value of this derivative primarily fluctuates with changes in the market price of the Company’s stock, with an increase in the stock price resulting in an increased value of the derivative liability.
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Scorpio Tankers Inc. and SubsidiariesCondensed Consolidated Statements of Income(unaudited) For the three monthsendedSeptember 30, For the nine monthsendedSeptember 30, In thousands of U.S.dollars except pershare and sharedata2026 2025 2026 2025 Revenue Vessel revenue$ 266,467 $ 241,361 $ 988,061 $ 685,570 Operating expenses Vessel operatingcosts (60,352) (74,343) (193,978) (213,682) Voyageexpenses (17,373) (8,440) (44,146) (25,685) Depreciation (35,208) (46,350) (112,941) (136,357) General andadministrativeexpenses (36,984) (29,591) (122,682) (87,717) Gain on sales ofvessels 152,550 — 372,629 — Total operatingexpenses 2,633 (158,724) (101,118) (463,441) Operating income 269,100 82,637 886,943 222,129 Other (expenses)and income, net Financialexpenses (9,682) (19,958) (58,011) (60,884) Financial income 19,509 5,661 42,486 14,875 Share of incomefrom dual fueltanker jointventure 676 1,153 2,113 2,961 Dividend incomeand fair valuegain on financialassetsmeasuredat fair valuethrough profit orloss — 14,799 — 35,421
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Fair valuechange onfinancialliabilitiesmeasured atfairvalue throughprofit or loss (55,593) — (41,769) — Other incomeand (expenses),net 306 160 (3,646) 1,672 Total otherexpense, net (44,784) 1,815 (58,827) (5,955) Net income $ 224,316 $ 84,452 $ 828,116 $ 216,174 Earnings per share Basic $ 4.91 $ 1.81 $ 17.92 $ 4.66 Diluted $ 4.60 $ 1.73 $ 16.70 $ 4.46 Basic weightedaverage sharesoutstanding 45,699,101 46,599,567 46,201,860 46,353,838 Diluted weightedaverage sharesoutstanding (1) 48,783,074 48,818,293 53,056,193 48,475,460 (1) The computation of diluted earnings per share for the nine months ended September 30, 2026,includes the effect of potentially dilutive unvested shares of restricted stock and the effect of theConvertible Notes under the if-converted method. The computation of diluted earnings per share forthe three months ended September 30, 2026, includes the effect of potentially dilutive unvestedshares of restricted stock only. The calculation under the if-converted method was anti-dilutive,therefore, diluted earnings per share for this period was calculated as net income (as reported)divided by diluted weighted average shares excluding the impact of the Convertible Notes. Thecomputation of diluted earnings per share for the three and nine months ended September 30,2025, includes the effect of potentially dilutive unvested shares of restricted stock. Reconciliation of Net Income Used in the Calculation of Diluted Earnings Per Share (If-Converted Method) For the three monthsendedSeptember 30, For the nine monthsendedSeptember 30, In thousands of U.S.dollars except per shareandshare data 2026 2025 2026 2025 Net income $ 224,316 $ 84,452 $ 828,116 $ 216,174
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Convertible Notesfinancial expense 9,039 — 16,057 — Fair value changeon financialliabilitiesmeasuredat fairvalue through profitor loss 55,593 — 41,769 — Net income - ifconverted method (1) 288,948 84,452 885,942 216,174 Basic weighted averageshares 45,699,101 46,599,567 46,201,860 46,353,838 Diluted weightedaverage shares -excludingconvertiblenotes (1) 48,783,074 48,818,293 49,483,448 48,475,460 Diluted weightedaverage shares - ifconverted (1) 54,862,882 N/A 53,056,193 N/A Basic earnings pershare - IFRS $ 4.91 $ 1.81 $ 17.92 $ 4.66 Diluted earnings pershare - IFRS (1) $ 4.60 $ 1.73 $ 16.70 $ 4.46 (1) The calculation of diluted earnings per share under the if-converted method was anti-dilutive forthe three months ended September 30, 2026. Therefore, diluted earnings per share for this periodwas calculated as net income (as reported) divided by diluted weighted average shares excludingthe impact of the Convertible Notes. Scorpio Tankers Inc. and SubsidiariesCondensed Consolidated Balance Sheets(unaudited) As of In thousands of U.S. dollars September 30, 2026 December 31, 2025 Assets Current assets Cash and cash equivalents $ 2,042,088 $ 751,955
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Accounts receivable 229,759 180,801 Prepaid expenses and other current assets 10,337 10,072 Inventories 6,978 11,919 Assets held for sale 72,804 153,622 Total current assets 2,361,966 1,108,369 Non-current assets Vessels and drydock 2,120,532 2,741,440 Vessels under construction 137,699 — Other assets 65,516 59,834 Goodwill 8,197 8,197 Total non-current assets 2,331,944 2,809,471 Total assets $ 4,693,910 $ 3,917,840 Current liabilities Current portion of long-term debt$ — $ — Lease liability - sale and leaseback vessels — 19,121 Accounts payable 30,255 34,029 Accrued expenses and other liabilities 84,123 65,609 Total current liabilities 114,378 118,759 Non-current liabilities Long-term debt 522,534 600,083 Financial liabilities measured at fair valuethrough profit or loss 196,087 — Other long-term liabilities — — Total non-current liabilities 718,621 600,083 Total liabilities 832,999 718,842 Shareholders' equity Issued, authorized and fully paid-in sharecapital: Share capital 791 778 Additional paid-in capital 3,288,341 3,231,184 Treasury shares (1,622,127) (1,467,127) Retained earnings 2,193,906 1,434,163
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Total shareholders' equity 3,860,911 3,198,998 Total liabilities and shareholders' equity$ 4,693,910 $ 3,917,840 Scorpio Tankers Inc. and SubsidiariesCondensed Consolidated Statements of CashFlows(unaudited) For the nine months ended September 30, In thousands of U.S. dollars 2026 2025 Operating activities Net income $ 828,116 $ 216,174 Depreciation 112,941 136,357 Equity settled share based compensationexpense 57,170 53,232 Amortization of deferred financing fees 3,805 5,442 Non-cash debt extinguishment costs 7,900 3,014 Net gain on sales of vessels (372,629) — Accretion of Convertible Notes due 2031 10,292 — Accretion of fair value measurement ondebt assumed in business combinations 5 33 Fair value gain on financial assetsmeasured at fair value through profit or loss — (29,659) Fair value change on financial liabilitiesmeasured at fair value through profit orloss 41,769 — Share of income from dual fuel tanker jointventure (2,113) (2,961) Dividend from financial assets measured atfair value through profit or loss — (5,762) 687,256 375,870 Changes in assets and liabilities: Decrease / (increase) in inventories 4,941 (1,392) Increase in accounts receivable (39,809) (20,855) Increase in prepaid expenses and othercurrent assets (264) (2,225) Decrease in other assets 2,650 1,217
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(Decrease) / increase in accounts payableand other liabilities (3,049) 101 (Decrease) / increase in accrued expenses 16,798 (26,265) (18,733) (49,419) Net cash inflow from operating activities 668,523 326,451 Investing activities Net proceeds from sales of vessels 1,025,010 — Acquisition of vessels and payments forvessels under construction (182,188) — Investment in Ampera Inc. (12,004) — Investment in VLCC joint venture (7,381) — Distributions from dual fuel tanker jointventure 3,813 2,582 Purchases of financial assets measured atfair value through profit or loss — (45,850) Proceeds from sale of financial assetsmeasured at fair value through profit orloss — 101,215 Dividend from financial assets measured atfair value through profit or loss — 5,762 Drydock and other vessel related payments (18,216) (65,163) Net cash inflow / (outflow) from investingactivities 809,034 (1,454) Financing activities Debt repayments (628,357) (181,536) Issuance of debt 50,000 200,000 Proceeds from issuance of ConvertibleNotes due 2031 628,575 — Convertible Notes due 2031 issuance costsassociated with the debt host (12,555) — Debt issuance costs (1,714) (11,747) Dividends paid (68,373) (60,780) Repurchase of common stock (155,000) (309) Net cash outflow from financingactivities (187,424) (54,372) Increase in cash and cash equivalents 1,290,133 270,625 Cash and cash equivalents at January 1, 751,955 332,580
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Cash and cash equivalents at September30, $ 2,042,088 $ 603,205 Scorpio Tankers Inc. and SubsidiariesOther financial and operating data for the three and ninemonths ended September 30, 2026 and 2025 (unaudited) For the three monthsendedSeptember 30, For the nine monthsendedSeptember 30, 2026 2025 2026 2025 Adjusted EBITDA(1) (inthousands of U.S. dollarsexceptFleet Data)$ 172,240 $ 148,140 $ 686,867 $ 416,351 Average Daily Results Fleet TCE per revenue day (2)$ 37,508 $ 26,231 $ 42,689 $ 25,272 Bareboat charter hire rateper revenue day (2)$ 12,986 $ 12,986 $ 12,986 $ 12,986 Vessel operating costs perday (3) $ 8,678 $ 8,162 $ 8,463 $ 7,906 Average number ofvessels 75.1 99.0 83.5 99.0 LR2 TCE per revenue day (2)$ 55,184 $ 31,482 $ 52,390 $ 31,542 Vessel operating costs perday (3) $ 9,433 $ 8,761 $ 9,125 $ 8,565 Average number ofvessels 25.5 38.0 30.7 38.0 MR TCE per revenue day (2)$ 31,073 $ 23,962 $ 37,877 $ 21,839 Bareboat charter hire rateper revenue day (2)$ 12,986 $ 12,986 $ 12,986 $ 12,986 Vessel operating costs perday (3) $ 8,383 $ 7,858 $ 8,162 $ 7,552
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Average number ofvessels 35.7 47.0 38.8 47.0 Handymax TCE per revenue day (2)$ 24,157 $ 19,784 $ 35,395 $ 20,229 Vessel operating costs perday (3) $ 8,058 $ 7,557 $ 7,827 $ 7,307 Average number ofvessels 14.0 14.0 14.0 14.0 Capital Expenditures Drydockings and othervessel related payments(in thousandsof U.S.dollars) $ 6,012 $ 16,780 $ 18,216 $ 65,163 (1) See Non-IFRS Measures section below. (2) Freight rates are commonly measured in the shipping industry in terms of time charter equivalentper day (or TCE per day), which is calculated by subtracting voyage expenses, including bunkersand port charges, from vessel revenue and dividing the net amount (time charter equivalentrevenues) by the number of revenue days in the period. Revenue days are the number of daysvessels are part of the fleet less the number of days vessels are off-hire for drydock and repairs. For bareboat chartered-out vessels, the charterers are responsible for the vessel operating costs. (3) Vessel operating costs per day represent vessel operating costs divided by the number ofoperating days during the period. Operating days are the total number of available days in aperiod with respect to vessels that are owned, operating under a lease financing arrangement, orbareboat chartered-in, before deducting available days due to off-hire days and days in drydock.Operating days is a measurement that is only applicable to vessels that are owned, operatingunder a lease financing arrangement, or bareboat chartered-in, not time chartered-in vessels. Fleet list as of October 26, 2026 Vessel Name YearBuilt DWT Iceclass Employment Vesseltype Scrubb
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Owned 1 STI Brixton 2014 38,734 1A SHTP (1) Handymax N/A 2 STIComandante 2014 38,734 1A SHTP (1) Handymax N/A 3 STI Pimlico 2014 38,734 1A SHTP (1) Handymax N/A 4 STI Hackney 2014 38,734 1A SHTP (1) Handymax N/A 5 STI Acton 2014 38,734 1A SHTP (1) Handymax N/A 6 STI Fulham 2014 38,734 1A SHTP (1) Handymax N/A 7 STI Camden 2014 38,734 1A SHTP (1) Handymax N/A 8 STI Battersea 2014 38,734 1A TimeCharter (4) Handymax N/A 9 STI Wembley 2014 38,734 1A SHTP (1) Handymax N/A 10 STI Finchley 2014 38,734 1A SHTP (1) Handymax N/A 11 STI Clapham 2014 38,734 1A SHTP (1) Handymax N/A 12 STI Poplar 2014 38,734 1A SHTP (1) Handymax N/A 13 STIHammersmith 2015 38,734 1A SHTP (1) Handymax N/A 14 STIRotherhithe 2015 38,734 1A SHTP (1) Handymax N/A 15 STI Duchessa 2014 49,990 — SMRP (2) MR No 16 STI Meraux 2014 49,990 — SMRP (2) MR Yes 17 STI Virtus 2014 49,990 — SMRP (2) MR Yes 18 STI St.Charles 2014 49,990 — SMRP (2) MR Yes 19 STI Mayfair 2014 49,990 — SMRP (2) MR Yes 20 STI Soho 2014 49,990 — SMRP (2) MR Yes 21 STI Memphis 2014 49,990 — SMRP (2) MR Yes 22 STI Gramercy 2015 49,990 — SMRP (2) MR Yes 23 STI Bronx 2015 49,990 — SMRP (2)(5) MR Yes 24 STI Pontiac 2015 49,990 — SMRP (2)(5) MR Yes 25 STI Queens 2015 49,990 — SMRP (2) MR Yes 26 STI NottingHill 2015 49,687 1B SMRP (2)(6) MR Yes
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27 STIWestminster 2015 49,687 1B SMRP (2)(6) MR Yes 28 STI Galata 2017 49,990 — SMRP (2) MR Yes 29 STIBosphorus 2017 49,990 — BareboatCharter (7) MR No 30 STI Leblon 2017 49,990 — SMRP (2) MR Yes 31 STI La Boca 2017 49,990 — SMRP (2) MR Yes 32 STI SanTelmo 2017 49,990 1B SMRP (2) MR No 33 STI Donald CTrauscht 2017 49,990 1B SMRP (2) MR No 34 STI Esles II 2018 49,990 1B SMRP (2) MR No 35 STI Jardins 2018 49,990 1B TimeCharter (8) MR No 36 STI Magic 2019 50,000 — SMRP (2) MR Yes 37 STI Mystery 2019 50,000 — SMRP (2) MR Yes 38 STI Marvel 2019 50,000 — SMRP (2) MR Yes 39 STI Magnetic 2019 50,000 — SMRP (2) MR Yes 40 STI Millennia 2019 50,000 — SMRP (2) MR Yes 41 STI Magister 2019 50,000 — SMRP (2) MR Yes 42 STI Mythic 2019 50,000 — SMRP (2) MR Yes 43 STI Marshall 2019 50,000 — SMRP (2) MR Yes 44 STI Modest 2019 50,000 — SMRP (2) MR Yes 45 STI Maverick 2019 50,000 — SMRP (2) MR Yes 46 STI Miracle 2020 50,000 — SMRP (2) MR Yes 47 STI Mighty 2020 50,000 — SMRP (2) MR Yes 48 STI Maximus 2020 50,000 — SMRP (2) MR Yes 49 STI Moxie 2026 49,800 — SMRP (2) MR Yes 50 STI Elysees 2014 109,999 — SLR2P (3)(27) LR2 Yes 51 STI Orchard 2014 109,999 — TimeCharter (9) LR2 Yes 52 STI Rose 2015 109,999 — TimeCharter (10) LR2 Yes
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53 STI Veneto 2015 109,999 — SLR2P (3)(27) LR2 Yes 54 STI Alexis 2015 109,999 — TimeCharter (11) LR2 Yes 55 STI Oxford 2015 109,999 — SLR2P (3) LR2 Yes 56 STIConnaught 2015 109,999 — SLR2P (3) LR2 Yes 57 STI Spiga 2015 109,999 — TimeCharter (12) LR2 Yes 58 STI Lombard 2015 109,999 — TimeCharter (13) LR2 Yes 59 STI Grace 2016 109,999 — TimeCharter (14) LR2 Yes 60 STI Jermyn 2016 109,999 — TimeCharter (15) LR2 Yes 61 STI Sanctity 2016 109,999 — SLR2P (3) LR2 Yes 62 STI Solace 2016 109,999 — SLR2P (3) LR2 Yes 63 STI Stability 2016 109,999 — SLR2P (3) LR2 Yes 64 STI Steadfast 2016 109,999 — SLR2P (3) LR2 Yes 65 STI Supreme 2016 109,999 — SLR2P (3) LR2 Yes 66 STISymphony 2016 109,999 — SLR2P (3) LR2 Yes 67 STI Guard 2016 113,000 — TimeCharter (16) LR2 Yes 68 STI Guide 2016 113,000 — TimeCharter (17) LR2 Yes 69 STI Selatar 2017 109,999 — SLR2P (3) LR2 Yes 70 STI Rambla 2017 109,999 — TimeCharter (18) LR2 Yes 71 STI Gauntlet 2017 113,000 — TimeCharter (19) LR2 Yes 72 STI Gladiator 2017 113,000 — TimeCharter (20) LR2 Yes 73 STI Gratitude 2017 113,000 — SLR2P (3) LR2 Yes 74 STI Lotus 2019 110,000 — SLR2P (3) LR2 Yes
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Total ownedDWT 5,056,241 Newbuildings Vessel Name Yard DWT Vessel type 75 Hull YZJF2024-002 JNS 49,800 MR (21) 76 Hull YZJF2024-003 JNS 49,800 MR (21) 77 Hull YZJF2024-004 JNS 49,800 MR (21) 78 Hull YZJ2026-1869 JYM 50,000 MR (22) 79 Hull YZJ2026-1870 JYM 50,000 MR (22) 80 Hull P110K-102 DS 115,000 LR2 (23) 81 Hull P110K-103 DS 115,000 LR2 (23) 82 Hull P110K-104 DS 115,000 LR2 (23) 83 Hull P110K-105 DS 115,000 LR2 (23) 84 Hull HT-OT114-672 HT 114,000 LR2 (24) 85 Hull HT-OT114-673 HT 114,000 LR2 (24) 86 Hull HT-OT114-674 HT 114,000 LR2 (24) 87 Hull HT-OT114-675 HT 114,000 LR2 (24) 88 Hull 5540 HO 300,000 VLCC (25) 89 Hull 5541 HO 300,000 VLCC (25) 90 Hull HL-T300K-121HL 306,000 VLCC (26) 91 Hull HL-T300K-123HL 306,000 VLCC (26) Total newbuildingvessels DWT 2,377,400 Total Fleet DWT 7,433,641 (1) This vessel operates in the Scorpio Handymax Tanker Pool, or SHTP. SHTP is operated by ScorpioCommercial Management S.A.M. (SCM). SHTP and SCM are related parties to the Company.
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(2) This vessel operates in the Scorpio MR Pool, or SMRP. SMRP is operated by SCM. SMRP andSCM are related parties to the Company. (3) This vessel operates in the Scorpio LR2 Pool, or SLR2P. SLR2P is operated by SCM. SLR2P andSCM are related parties to the Company. (4) This vessel commenced a time charter in April 2025 for two years at a rate of $24,000 per day. (5) This vessel is expected to commence a time charter in the fourth quarter of 2026 for three years ata rate of $23,900 per day. (6) This vessel is expected to commence a time charter before December 31, 2026, at the Company'sdiscretion, for three years at a rate of $25,000 per day. (7) This vessel commenced a bareboat charter-out arrangement in August 2025 at a bareboat rate of$13,150 per day. The vessel is chartered to a third-party joint venture which re-flagged the vesselto the United States in order for it to participate in the U.S. Government’s Tanker Security Program.The contract will remain in effect until the vessel reaches 20 years of age, which will occur in 2037,subject to annual renewal within the National Defense Authorization Act. (8) This vessel commenced a time charter in October 2024 for three years at a rate of $29,550 perday. (9) This vessel commenced a time charter in August 2025 for five years at a rate of $28,350 per day. (10)This vessel commenced a time charter in February 2026 for five years at a rate of $29,000 per day. (11)This vessel commenced a time charter in January 2026 for five years at a rate of $29,000 per day. (12)This vessel commenced a time charter with a related party in November 2025 for one year at a rateof $35,000 per day. (13)This vessel commenced a time charter in March 2026 for five years at a rate of $33,000 per day. (14)This vessel commenced a time charter in December 2022 for three years at an average rate of$37,500 per day. The daily rate is the average rate over the three-year period, which is payableduring the first six months at $47,000 per day, the next 6 months are payable at $28,000 per day,and years two and three are payable at $37,500 per day. In November 2025, this time charter wasextended for a period of one year at a rate of $36,000 per day commencing in December 2025. (15)This vessel commenced a time charter in October 2026 for three years at a rate of $42,500 perday. (16)This vessel commenced a time charter in July 2022 for five years at a rate of $28,000 per day. (17)This vessel commenced a time charter in July 2022 for three years at an average rate of $28,000per day. In April 2025, the charterers exercised their option to extend the term of this agreement foran additional year at $31,000 per day commencing in July 2025. In April 2026, the charterersexercised their option to further extend the term of this agreement for an additional year at $33,000per day commencing July 2026. (18)This vessel commenced a time charter in March 2026 for eight years at a rate of $30,500 per day. (19)This vessel commenced a time charter in November 2022 for three years at an average rate of$32,750 per day. In November 2025, this time charter was extended for a period of one year at arate of $36,000 per day. (20)This vessel commenced a time charter in September 2026 for three years at a rate of $40,188 perday.
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(21)These newbuilding vessels are being constructed at JNS (Jingjiang Nanyang Shipbuilding Co.Ltd.). The vessels are expected to be delivered in the first and second quarters of 2027. (22)These newbuilding vessels are being constructed at JYM (Jiangsu Yangzi-Mitsui Shipbuilding Co.,Ltd.) and are expected to be delivered in the first quarter of 2030. (23)These newbuilding vessels are being constructed at DS (Dalian Shipbuilding Industry Co. Ltd.).Two of the vessels are expected to be delivered in the third quarter of 2027, one is expected to bedelivered in the third quarter of 2029 and one is expected to be delivered in the fourth quarter of2029. (24)These newbuilding vessels are being constructed at HT (Jiangsu Hantong Ship Heavy IndustryCo., Ltd) and deliveries are expected in the second, third, and fourth quarters of 2029. (25)These newbuilding vessels are being constructed at HO (Hanwha Ocean Co. Ltd.). The vesselsare expected to be delivered in the third and fourth quarters of 2028. (26)These newbuilding vessels are being constructed at HL (Hengli Shipbuilding (Dalian) Co., Ltd.).The vessels are expected to be delivered in the third and fourth quarters of 2028. (27)The Company has entered into an agreement to sell this vessel, which is expected to close duringthe fourth quarter of 2026. Dividend Policy The declaration and payment of dividends is subject at all times to the discretion of the Company's Board of Directors. The timing and the amount of dividends, if any, depends on the Company's earnings, financial condition, cash requirements and availability, fleet renewal and expansion, restrictions in loan agreements, the provisions of Marshall Islands law affecting the payment of dividends and other factors. The Company's dividends paid during 2025 and 2026 were as follows: Date paid Dividend per commonshare March 2025 $0.40 June 2025 $0.40 August 2025 $0.40 December 2025 $0.42 March 2026 $0.45 June 2026 $0.45 August 2026 $0.45 On October 26, 2026, the Board of Directors declared a quarterly cash dividend of $0.75 per common share, with a payment date of December 4, 2026 to all shareholders of record as of November 13, 2026 (the record date). As of October 26, 2026, there were 51,078,851 common shares of the Company issued and outstanding. About Scorpio Tankers Inc.
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Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns 74 product tankers (25 LR2 tankers, 35 MR tankers and 14 Handymax tankers) with an average age of 10.3 years. The Company has reached agreements to sell two LR2 product tankers, which are expected to close in the fourth quarter of 2026. The Company has also reached agreements to construct five MR newbuildings with deliveries expected in 2027 and 2030, eight LR2 newbuildings with deliveries expected in 2027 and 2029 and four VLCC newbuildings with deliveries expected in 2028. Additional information about the Company is available at the Company’s website www.scorpiotankers.com, which is not a part of this press release. Non-IFRS Measures Reconciliation of IFRS Financial Information to Non-IFRS Financial Information This press release describes time charter equivalent revenue, or TCE revenue, adjusted net income or loss, and adjusted EBITDA, which are not measures prepared in accordance with IFRS (the "Non-IFRS Measures"). The Non-IFRS Measures are presented in this press release as we believe that they provide investors and other users of our financial statements, such as our lenders, 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 substitutes for, or superior to financial measures prepared in accordance with IFRS. The Company believes that the presentation of TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA are useful to investors or other users of our financial statements, such as our lenders, because they facilitate the comparability and the evaluation of companies in the Company’s industry. In addition, the Company believes that TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA are useful in evaluating its operating performance compared to that of other companies in the Company’s industry. The Company’s definitions of TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA may not be the same as reported by other companies in the shipping industry or other industries. TCE revenue, on a historical basis, is reconciled above in the section entitled "Explanation of Variances on the Third Quarter of 2026 Financial Results Compared to the Third Quarter of 2025". The Company has not provided a reconciliation of forward-looking TCE revenue because the most directly comparable IFRS measure on a forward-looking basis is not available to the Company without unreasonable effort. Reconciliation of Net Income to Adjusted Net Income For the three monthsendedSeptember 30, For the nine monthsendedSeptember 30, In thousands of U.S.dollars 2026 2025 2026 2025 Net income $ 224,316 $ 84,452 $ 828,116 $216,174 Adjustment: Write-off of deferredfinancing fees anddebtextinguishment costs — 911 20,706 3,014 Gain on sales of vessels (152,550) — (372,629) — Fair value change onfinancial 55,593 — 41,769 —
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liabilitiesmeasured at fairvalue through profit orloss Transaction costsallocated toderivativeliability — — 3,975 — Fair value gain onfinancial assetsmeasured atfair valuethrough profit or loss — (12,680) — (29,659) Adjusted net income$ 127,359 $ 72,683 $ 521,937 $189,529 Reconciliation of Adjusted Net Income Used in the Calculation of Basic and Diluted Earnings Per Share (If- Converted Method) For the three monthsendedSeptember 30, For the nine monthsendedSeptember 30, In thousands of U.S.dollars except pershare andshare data2026 2025 2026 2025 Adjusted net income$ 127,359 $ 72,683 $ 521,937 $ 189,529 Convertible Notesfinancial expense 9,039 — 16,057 — Adjusted net income- if convertedmethod (1) $ 136,398 $ 72,683 $ 537,994 $ 189,529 Basic weightedaverage shares 45,699,101 46,599,567 46,201,860 46,353,838 Diluted weightedaverage shares - ifconverted (1) 54,862,882 48,818,293 53,056,193 48,475,460 Adjusted basicearnings per share$ 2.79 $ 1.56 $ 11.30 $ 4.09 Adjusted dilutedearnings per share –ifconverted $ 2.49 $ 1.49 $ 10.14 $ 3.91 (1) The if-converted method assumes that the interest and non-cash amortization expense of $9.0million and $16.1 million during the three and nine months ended September 30, 2026,respectively, and the fair value change on financial liabilities associated with the Convertible
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Notes, which are measured at fair value through profit or loss, of $55.6 million and $41.8million, during the three and nine months ended September 30, 2026, respectively, were notincurred. Reconciliation of Net Income to Adjusted EBITDA(1) For the three monthsendedSeptember 30, For the nine monthsendedSeptember 30, In thousands of U.S.dollars 2026 2025 2026 2025 Net Income $ 224,316 $ 84,452 $ 828,116 $216,174 Financial expenses 9,682 19,958 58,011 60,884 Financial income (19,509) (5,661) (42,486) (14,875) Depreciation 35,208 46,350 112,941 136,357 Equity settled sharebased compensationexpense 19,500 17,840 57,170 53,232 Gain on sales ofvessels (152,550) — (372,629) — Dividend income andfair value gain onfinancialassetsmeasured atfair value throughprofit or loss — (14,799) — (35,421) Fair value change onfinancial liabilitiesmeasured at fairvaluethrough profit or loss 55,593 — 41,769 — Transaction costsallocated to derivativeliability — — 3,975 — Adjusted EBITDA$ 172,240 $148,140 $ 686,867 $416,351 (1) Adjusted EBITDA is calculated by taking net income and adding back financial expenses (whichinclude interest expense and amortization and write offs of deferred financing fees), financialincome (which includes interest income), depreciation, equity settled share based compensation(which represents the amortization of restricted stock awards and restricted stock units), dividendincome, gains and losses on asset sales, fair value adjustments on assets and liabilities measuredat fair value, and transaction costs allocated to the derivative liability arising from the ConvertibleNotes.
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Forward-Looking Statements Matters discussed in this press release may constitute forward‐looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward‐looking statements in order to encourage companies to provide prospective information about their business. Forward‐looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "expect," "anticipate," "estimate," "intend," "plan," "target," "project," "likely," "may," "will," "would," "could" and similar expressions identify forward‐looking statements. The forward‐looking statements in this press release 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 the Company’s records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. The Company undertakes no obligation, and specifically declines any obligation, except as required by law, to publicly update or revise any forward‐ looking statements, whether as a result of new information, future events or otherwise. In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward‐looking statements include unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, expansion and growth of the Company’s operations, risks relating to the integration of assets or operations of entities that it has or may in the future acquire and the possibility that the anticipated synergies and other benefits of such acquisitions may not be realized within expected timeframes or at all, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, the impact of the current and future sanctions that may impact the transportation of petroleum products, the ongoing military conflict in Iran which has had a significant direct and indirect impact on the trade of crude oil and refined petroleum products, potential disruption of shipping routes due to accidents or political events, potential liability from pending or future litigation, general domestic and international political conditions, which have and may continue to disrupt certain global shipping routes, vessel breakdowns and instances of off‐hires, and other factors. Please see the Company's filings with the SEC for a more complete discussion of certain of these and other risks and uncertainties. Contact Information Scorpio Tankers Inc.James Doyle - Head of Corporate Development & Investor RelationsTel: +1 203-900-0559Email: investor.relations@scorpiotankers.com Source: Scorpio Tankers Inc. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In This Story STNG