Scorpio Tankers Inc. · NYSE:STNG
Scorpio Tankers — Q1 2026 Earnings Presentation
25 slides from Scorpio Tankers's earnings presentation, May 5, 2026
Slide 1: First Quarter 2026 Earnings Presentation
Scorpio Tankers Inc. First Quarter 2026 Earnings Presentation May 5, 2026
Slide 2: Disclaimer and Forward-looking Statements
Disclaimer and Forward-looking Statements This presentation includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Scorpio Tankers Inc.’s (“Scorpio’s”) curr
Slide 3: Q1 2026 Call Agenda
Q1 2026 Call Agenda 1. Q1 2026 Highlights 2. Product Tanker Market 3. Financial Highlights 4. Conclusion 5. Q&A
Slide 4: Q1 2026 Highlights
Q1 2026 Highlights 4
Slide 5: Q1 2026 Highlights
Q1 2026 Highlights Financial Results Quarterly TCE Rates • Adjusted EBITDA of $214.1 million (1) $USD per day Q1-26 (2) Q2-26 as of May 1, 2026 • Adjusted net income of $150.9 million or $3.20 basic and $3.02 diluted earnings per share (1) % of Days Quarterly Dividend Booked • The Company declared a
Slide 6: Product Tanker Market
Product Tanker Market 6
Slide 7: Product Tanker Earnings Reflect a Structurally Tighter Market
Product Tanker Earnings Reflect a Structurally Tighter Market Product Tanker Developments Product Tanker Earnings (1) $USD per day Average Weighetd Clean Product Tanker Earnings Previous 20 Yr Average Clean Product Tanker Earnings Several structural factors have supported strong product tanker 90,00
Slide 8: Strait of Hormuz Disruption Tightens Global Supply Chains
Strait of Hormuz Disruption Tightens Global Supply Chains Weekly Strait of Hormuz Crude and Product Oil Flows (1) 2025 Average Strait of Hormuz Outbound Crude & Product Oil Flows (1) Million barrels per day Million barrels per day 25 Kuwait 20 1.5 mb/d Crude Oil 0.8 mb/d Product Oil 15 Iraq 3.3 mb/d
Slide 9: Longer Voyage Distances Tighten Supply & Outpace Lower Exports
Longer Voyage Distances Tighten Supply & Outpace Lower Exports Changes in Seaborne Refined Product by Exports Region – April MR & Aframax/LR2 Ton Mile Demand Since 2019 Million barrels per day Index = 100, Base January 2019 MR Aframax/LR2 YoY Change 140 0.9 0.4 130 0.2 0.1 0.0 120 -0.2 Incremental v
Slide 10: Seaborne Product Exports Expected to Rebound as Flows Normalize
Seaborne Product Exports Expected to Rebound as Flows Normalize Global Refined Product Demand (1) Seaborne Refined Product Exports (2) Million barrels per day Million barrels per day Previous 5Y Range 2025 CPP Exports Previous 5Y AVG Diesel Gasoline Jet Naphtha 90.0 23.0 22.5 76.1 76.5 76.3 77.0 75.
Slide 11: Global Inventory Restocking to Support Tanker Rates
Global Inventory Restocking to Support Tanker Rates Global High Frequency Product Stocks (1) Weekly US Refined Product Inventories (2) Million barrels 5-Year Range 2025 2026 5-Year Avg Million barrels US Inventory Build / (Draws) 580 10 570 560 5 550 0 540 530 -5 520 510 -10 500 490 -15 480 Jan Apr
Slide 12: Newbuilding Orders Have Slowed & Half the Orderbook is LR2s
Newbuilding Orders Have Slowed & Half the Orderbook is LR2s Product Tanker Newbuilding Orders (1) % of LR2 Fleet Trading in Crude Oil & Dirty Products (2) Number of vessels % of fleet MR LR1 LR2 % Trading Crude/Dirty Petroleum Products 500 60% 431 400 57% 283 300 255 228 183 180179 188 200 154 105 1
Slide 13: Fleet Growth Likely Overstated Due to Ageing & Sanctioned Vessels
Fleet Growth Likely Overstated Due to Ageing & Sanctioned Vessels Product Tanker Orderbook vs % of Fleet Above 20 Years Old (1) Sanctioned Tankers as a Share of the Global Fleet & Average Age (1)(2) % of fleet Sanctioned fleet as % of active fleet Sanctioned fleet average age Average 35.0% Age 30.0%
Slide 14: Product Tanker Fleet Growth & Ton Mile Demand
Product Tanker Fleet Growth & Ton Mile Demand Product Tanker Fleet Growth (1) Refined Products Ton Mile Demand Fleet growth Billion ton miles Scenario 1 Scenario 2 Scenario 3 4,000 5.1% 4.6% 3,500 4.4% 3.4% 3,000 2.8% 2.4% 1.9% 2,500 0.5% 2,000 1,500 1,000 -2.6% 500 0 2001 2018 2000 2002 2003 2004 2
Slide 15: Financial Highlights
Financial Highlights 15
Slide 16: Financial Highlights
Financial Highlights Financial Highlights Q1-26 (1) Net Debt $USD millions $USD millions Net Debt Gross Debt Outstanding Cash & Cash Equivalents $350 $2,933 $303 $300 $1,581 $250 $1,263 $3,164 $214 $216 $211 $546 $293 $200 $1,958 $1,618 $878 $897 $943 $932 $628 $589 $151 $150 -$230 -$377 -$356 -$333
Slide 17: Balance Sheet Optimization Through Deleveraging and Margin Reductions
Balance Sheet Optimization Through Deleveraging and Margin Reductions Outstanding Indebtedness By Type Weighted Average Margins on Secured Financings (1) $USD millions Lease Financing Bank Facilities Unsecured Notes Convertible Bonds Margins, % $3,500 4.0% $3,164 3.5% $3,000 $278 3.5% $70 3.0% $2,50
Slide 18: Strong Liquidity, Limited Newbuild Commitments & No Debt Maturities until 2028
Strong Liquidity, Limited Newbuild Commitments & No Debt Maturities until 2028 Cash & Liquidity Newbuilding Commitments (1) $USD millions Availability under revolving credit facilities $USD millions Pro forma cash & cash equivalents as of May 1, 2026 * $2,800 Total cash & liquidity $250.0 $212.6 $20
Slide 19: Significant Operating Leverage & Earnings Potential
Significant Operating Leverage & Earnings Potential Company Fleet TCE Rates Potential Annual Cash Flow Generation After Scheduled Debt Amortization (1) $USD per day Company Achieved TCE Rate Cash Breakeven $USD millions $40,000 $1,413 $32,000 $1,125 $24,000 $836 $28.0/Share $16,000 $22.3/Share $548
Slide 20: Conclusion
Conclusion 20
Slide 21: A Transformed Balance Sheet Built to Generate & Deliver Strong Returns
A Transformed Balance Sheet Built to Generate & Deliver Strong Returns Modern Massive Ultra-Low Shareholder Fleet Deleveraging Break-Even Returns 87 (1) $876M (2) $11,000 $0.45 Quarterly Product Tankers Pro-forma Net Per Day Dividend / Share Cash Average age of ~10.2 years (1) and From $2.9 billion
Slide 22: Chartered Out Vessels
Chartered Out Vessels Vessel Vessel Class Term Average Rate ($/day) Commencement date STI Battersea HM Two Years $24,000 April-25 STI Jardins MR Three Years $29,550 October-24 STI Bosphorus (1) MR Twelve Years $21,000 August-25 STI Memphis MR Six Months $27,500 November-25 STI Magnetic MR Six Months
Slide 23: Newbuilding Vessels
Newbuilding Vessels Vessel Vessel Class DWT Yard Expected Delivery Date Hull YZJF2024-001 MR 49,800 Jingjiang Nanyang Shipbuilding Q3 - 2026 Hull YZJF2024-002 MR 49,800 Jingjiang Nanyang Shipbuilding Q4 - 2026 Hull YZJF2024-003 MR 49,800 Jingjiang Nanyang Shipbuilding Q1 - 2027 Hull YZJF2024-004 MR
Slide 24: Q&A
Q&A 24
Slide 25: www.scorpiotankers.com
www.scorpiotankers.com