Scorpio Tankers Inc. · NYSE:STNG
Scorpio Tankers — Q2 2025 Earnings Presentation
24 slides from Scorpio Tankers's earnings presentation, Jul 30, 2025
Slide 1: Scorpio Tankers Inc. Second Quarter 2025 Earnings Presentation
Scorpio Tankers Inc. Second Quarter 2025 Earnings Presentation July 30, 2025
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: Q2 2025 Call Agenda
Q2 2025 Call Agenda 1. Q2 2025 Highlights 2. Product Tanker Market 3. Financial Highlights 4. Conclusion 5. Q&A
Slide 4: Q2 2025 Highlights
Q2 2025 Highlights 4
Slide 5: Financial Highlights
Financial Highlights Financial Results Quarterly TCE Rates (Includes Vessels on Time Charter) • Adjusted EBITDA of $144.5 million (1) $USD per day Q2-25 • Adjusted net income of $67.8 million or $1.47 basic and $1.41 diluted earnings per share (1) Notice to Repurchase Remaining Sale Leaseback Vessel
Slide 6: Product Tanker Market
Product Tanker Market 6
Slide 7: Short Term Market Update
Short Term Market Update Monthly MR & LR2 Spot Rates (1) Global Refining Margins (2) $USD per day MR Eco Avg Earnings LR2 Eco Middle East to Japan $USD per barrel $14 $60,000 $12 $50,000 $10 $40,000 $8 $30,000 $6 $20,000 $4 $10,000 $2 $0 $0 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Refined Pr
Slide 8: Refined Product Demand & Seaborne Exports Remains Strong
Refined Product Demand & Seaborne Exports Remains Strong Change in Global Refined Product Demand (1) Seaborne Refined Product Exports (2) Million barrels per day, Base 2023 Diesel Gasoline Jet Naphtha Fuel Oil Million barrels per day 22.0 3.0 21.1 2.5 21.0 20.7 20.5 2.0 20.0 19.9 19.6 1.5 19.0 1.0 0
Slide 9: Unwinding of OPEC Capacity Constructive for Tanker Earnings
Unwinding of OPEC Capacity Constructive for Tanker Earnings OPEC+ Spare Capacity (1) Dirty-Clean Tanker Earnings Spread & Crude Vessels Carrying CPP (2)(3) Million barrels per day $USD per day Million barrels per day VLCC+Suezmax Carrying Clean Volume(RHS) 6.0 VLCC-LR2 Earnings Spread 5.8 5.6 $60,00
Slide 10: New EU Sanctions Package Expected to Tighten Market
New EU Sanctions Package Expected to Tighten Market The 18th EU Sanctions Package Against Russia (1) Sanctioned Vessels by Selected Classes (1) Number of Vessels, Sanctioned fleet as % of the corresponding active fleet • On July 18, 2025, the EU agreed on its 18th package of sanctions against Russia
Slide 11: Refinery Closures Drives Ton-Mile Demand
Refinery Closures Drives Ton-Mile Demand Net Refining Additions from 2020-2025 (1) Ton Mile Demand Since 2019 (2) Million barrels per day Index = 100, Base January 2019 Ton Mile Demand (Excl. Russia) Ton Mile Demand (Incl. Russia) 4.5 125 4.0 0.13 120 0.18 0.42 3.5 115 0.59 3.0 -0.94 110 0.74 2.5 10
Slide 12: Newbuilding Orders Have Slowed & 51% of LR2 Fleet is Trading Crude Oil
Newbuilding Orders Have Slowed & 51% of LR2 Fleet is Trading Crude Oil Product Tanker Orderbook as % of the Fleet (1) Newbuild Ordering Has Slowed (1) % of Fleet Number of vessels MR LR1 LR2 70% 600 Vessels Ageing Out of the 60% Fleet 500 431 50% 400 40% 285 30% 300 255 241 20% 183 180 179 188 200 1
Slide 13: Lower Effective Fleet Growth Due to Decreased Utilization of Ageing Vessels
Lower Effective Fleet Growth Due to Decreased Utilization of Ageing Vessels 2004 Built Product Tanker CPP Ton Mile by Year & Age (1) Vessels At or Above 20 Years Old (2) Billion ton miles Number of vessels HM MR LR1 LR2 20+ % of active fleet (RHS) Non-Russia Russia 140.0 1400 35.0% 127.5 30.6% 5.6 1
Slide 14: Product Tanker Fleet Growth & Ton Mile Demand
Product Tanker Fleet Growth & Ton Mile Demand Product Tanker Fleet Growth (1) Ton Mile Demand Has Grown at a 3.4% CAGR Since 2000 Fleet growth Scenario 1 Scenario 2 Scenario 3 Billion ton miles 4,000 3,500 3,000 4.7% 4.0% 3.5% 2,500 3.1% 2.8% 2.0% 2,000 0.6% 1,500 0.4% 0.4% 1,000 500 0 2000 2001 200
Slide 15: Financial Highlights
Financial Highlights 15
Slide 16: Financial Highlights & Strong Liquidity Position
Financial Highlights & Strong Liquidity Position Q2-25 Financial Highlights (1) Cash & Liquidity (3) $USD millions $USD millions Cash & Cash Equivalents as of July 28, 2025 $1 Billion Credit Facility – Revolver Availability $250 Feb 2025 Revolving Credit Facility 2023 $225.0 Million Revolving Credit
Slide 17: Optimizing Balance Sheet through Lower Leverage & Cost of Debt
Optimizing Balance Sheet through Lower Leverage & Cost of Debt Net Debt Outstanding Indebtedness by Type $USD millions Gross Debt Outstanding Cash & Cash Equivalents $USD millions Lease Financing Bank Facilities Unsecured Notes Convertible Bonds $3,500 $2,933 $3,164 $3,000 $70 $2,500 $574 $1,581 $1,
Slide 18: Debt Repayment & Drydock Schedule
Debt Repayment & Drydock Schedule Debt Repayment Schedule Completed & Estimated Drydock Schedule $USD millions Payments made through July 28, 2025 (1) Number of vessels Scheduled repayments LR2 MR HM Unscheduled Prepayments 20 $80.0 18 17 17 16 $56.5 14 12 10 10 $40.0 8 8 $46.8 8 7 $27.0 $26.8 $26.7
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 $USD millions $45,679 $44,222 $1,716 $39,660 $38,813 $37,500 $36,006 $32,949 $1,355 $32,154 $28,488 $33.6/Share $28,313 $25,569$25,106
Slide 20: Conclusion
Conclusion 20
Slide 21: Investment Highlights
Investment Highlights Company • One of the largest product tanker fleets in the world • 99 Eco (fuel-efficient) vessels on the water • Fully delivered fleet with an average age of 9.4 years New Slide • No newbuildings on order = $0 newbuild capex • Significant Operating Leverage • A $10,000/day incr
Slide 22: Chartered Out Vessels
Chartered Out Vessels Vessel Vessel Class Term Average Rate ($/day) Commencement date STI Battersea HM Two Years $24,000 April-25 STI Bosphorus (1) MR Twelve Years $21,000 August-25 STI Memphis (2) MR Three Years / 75-120 Days $21,000 / $21,500 June-22 / August-25 STI Miracle (2) MR Three Years / 75
Slide 23: Q&A
Q&A 23
Slide 24: www.scorpiotankers.com
www.scorpiotankers.com