Scorpio Tankers Inc. · NYSE:STNG
Scorpio Tankers — Pareto Conference 2025
25 slides from Scorpio Tankers's conference presentation, Sep 11, 2025
Slide 1: Scorpio Tankers Inc. Pareto Conference Presentation
Scorpio Tankers Inc. Pareto Conference Presentation September 11, 2025
Slide 2: Q2 2025 Call Agenda
Q2 2025 Call Agenda 1. Introduction 2. Product Tanker Market 3. Financial Highlights 4. Q&A
Slide 3: 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 4: Introduction
Introduction 4
Slide 5: Scorpio Tankers at a Glance
Scorpio Tankers at a Glance Key Facts Listed On NYSE – STNG (1) Fleet Vessels MARKET CAP NUMBER • 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) $2.9bn 99 • Vessels e
Slide 6: Largest and Most Modern Product Tanker Fleet in the World
Largest and Most Modern Product Tanker Fleet in the Word Scorpio Tankers Fleet vs. Peers Scorpio Tankers Average Age vs. Global Fleet Number of Vessels HM MR LR1 LR2 Fleet Average Age Scorpio Tankers World Active Fleet 20.0 18.0 99 15.8 16.0 88 79 13.3 13.4 70 12.0 10.9 10.7 9.6 9.5 55 8.9 47 46 8.0
Slide 7: 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 9.5 years New Slide • No newbuildings on order = $0 newbuild capex • Significant Operating Leverage • A $10,000/day incr
Slide 8: Product Tanker Market
Product Tanker Market 8
Slide 9: Short Term Market Update
Short Term Market Update Monthly MR & LR2 Spot Rates (1) Global Refining Margins (2) $USD per day LR2 Eco-Middle East to Japan MR Eco-Avg Earnings $USD per barrel $60,000 $14 $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 Aug-25 1)
Slide 10: Refinery Maintenance & Strong Demand Limit Distillate Inventory Builds
Refinery Maintenance & Strong Demand Limit Distillate Inventory Builds Global Refinery Maintenance (Capacity Offline) (1) US Distillate Inventories (2) Million barrels per day Asia Pacific North America Europe Latin America FSU Middle East Africa Million barrels 5Y Range 2024 2025 12 170 10.2 10 160
Slide 11: 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 Increased 1.2 mb/d YoY (2) Million barrels per day, Base 2023 Diesel Gasoline Jet Naphtha Fuel Oil Million barrels per day 23.0 3.0 22.3 2.5 22.0 21.6 21.1 2.0 21.0 2
Slide 12: Middle East Volumes Transit Around COGH & Russian Capacity Attacks Curb Exports
Middle East Volumes Transit Around COGH & Russian Capacity Attacks Curb Exports Refined Product Volumes Via Cape of Good Hope & Bab-el-Mandeb (1) Russian Refinery Attacks Curtail Product Exports (1) Million barrels per day Via Bab-el-Mandeb Via COGH Million barrels per day Russian Product Exports 4.
Slide 13: Most Sanctioned Vessels Are Over 18 Years Old
Most Sanctioned Vessels Are Over 18 Years Old Sanctioned Vessels by Selected Classes (1) EU & UK Exclusively Sanctioned Tanker Fleet Age Distribution (1) Number of Vessels, Sanctioned fleet as % of the corresponding active fleet % of Sanctioned Vessel by Age <=15 16 - 17 18 - 19 20 & 20+ EU & UK exc
Slide 14: Refinery Closures Drive Ton-Mile Demand
Refinery Closures Drive 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) 4.0 130 0.12 0.18 3.5 0.24 125 0.59 3.0 120 0.74 115 2.5 -1.07 110 2.0
Slide 15: Orderbook Declines as Newbuilding Orders Slows
Orderbook Declines as Newbuilding Orders Slows Product Tanker Orderbook as % of the Fleet Newbuild Ordering Has Slowed % of Fleet Number of vessels MR LR1 LR2 70% 600 Vessels Ageing Out of the 60% Fleet 500 50% 431 400 40% 300 285 30% 255 234 200 183 180 179 188 20% 153 19% 116 105 113 111 106 95 10
Slide 16: Half the Orderbook Consists of LR2s & 50% of the LR2 Fleet Trades Crude Oil
Half the Orderbook Consists of LR2s & 50% of the LR2 Fleet Trades Crude Oil Product Tanker Orderbook By Vessel Class (1) % of LR2 Fleet Trading in Crude Oil & Dirty Products (2) % of total orderbook % trading dirty % Trading Dirty HM MR LR1 LR2 55% HM, 2.0% 53% 50% 51% 49% MR, 36.9% 47% LR2, 48.4% 4
Slide 17: 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 18: 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 3.2% CAGR Since 2000 Fleet growth Scenario 1 Scenario 2 Scenario 3 Billion ton miles 4,000 3,500 3,000 4.5% 4.2% 2,500 3.4% 3.1% 3.1% 2.3% 2,000 0.9% 0.6% 1,500 0.3% 1,000 500 0 2000 2001 200
Slide 19: Financial Highlights
Financial Highlights 19
Slide 20: 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 21: 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 22: 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 $39,660 $38,813 $37,500 $1,716 $32,949 $32,154 $28,313 $28,488 $1,355 $26,412 $25,569 $23,971 $33.6/Share $21,978 $994 $2
Slide 23: Q&A
Q&A 23
Slide 24: Chartered Out Vessels
Chartered Out Vessels Vessel Vessel Class Term Average Rate ($/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 25: www.scorpiotankers.com
www.scorpiotankers.com