Scorpio Tankers Inc. · NYSE:STNG
Scorpio Tankers — Pareto Conference 2026
30 slides from Scorpio Tankers's conference presentation, Sep 17, 2026
Slide 1: Scorpio Tankers Inc. Pareto Conference Presentation
Scorpio Tankers Inc. Pareto Conference Presentation September 17, 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: Table of Contents
Table of Contents The Company Product Tanker Market Financials Appendix
Slide 4: The Company
The Company 4
Slide 5: Scorpio Tankers At a Glance
Scorpio Tankers At a Glance Key Facts Key Metrics NYSE Listed Ticker Market Cap (3) • Scorpio Tankers Inc. (“Scorpio”) is one of the world’s largest product tanker BILLION $USD owners, providing marine transportation of refined petroleum products (gasoline, diesel, jet fuel and naphtha) STNG $4.2 •
Slide 6: One of the Largest and Most Modern Product Tanker Fleets in the World
One of the Largest and Most Modern Product Tanker Fleets in the World Scorpio’s Fleet vs. Peers Scorpio Average Age vs Worldwide Fleet Number of vessels Fleet average age HM MR LR1 LR2 Scorpio Tankers World Active Fleet 20.0 Peer 1 92 18.4 Scorpio 14 36 25 75 16.0 Peer 2 64 13.4 11.9 12.0 Peer 3 63
Slide 7: Company History & Timeline
Company History & Timeline Fleet Size (1) (2) Average Number of Vessels MR Newbuild Price ($m) 160 $55.0 $52.0 140 135 132 $50.6 123 $49.0 $50.0 119 119 120 112 108 96 $47.5 93 100 $43.5 $45.0 78 75 80 73 $41.0 $40.0 60 $36.5 $36.8 $36.5 $35.5 $35.5 $35.8 40 $35.0 $34.8 32 $34.0 $33.8 $34.0 $35.0 16
Slide 8: Monetizing 12-Year-Old Tonnage near Newbuild-Equivalent Prices
Monetizing 12-Year-Old Tonnage near Newbuild-Equivalent Prices LR2 Newbuilding and Secondhand Values (1) Sale of Seven LR2 Vessels with an Average Age of ~11.7 years (2) $USD millions Value per vessel, $USD millions 12 Yr Old LR2 LR2 Newbuild $80.0 $80.0 $70.7 $70.0 $70.0 $68.7 $60.0 $60.0 $50.0 $50
Slide 9: Transformed Balance Sheet, Opportunistic Fleet Renewal & Increasing Shareholder Returns
Transformed Balance Sheet, Opportunistic Fleet Renewal & Increasing Shareholder Returns Earnings & Capital Returned Since 2022 Vessel Activity Since 2022 Sustainable & Increasing Dividend $USD millions Number of vessels $USD per share Dividends 57 $3,965 Share Repurchases $0.45 $2,509 $1,457 15 $0.1
Slide 10: Product Tanker Market
Product Tanker Market 10
Slide 11: Product Tanker Earnings Increase on Improving Demand
Product Tanker Earnings Increase on Improving Demand Product Tanker Earnings (1) Global Refined Product Demand (2) $USD per day Million barrels per day Diesel Gasoline Jet Naphtha Fuel Oil LR2 Eco-Avg Earnings MR Eco-Avg Earnings 90.0 $100,000 74.6 74.5 75.2 $90,000 71.8 7.3 7.2 7.1 6.7 $80,000 10.2
Slide 12: Increasing Seaborne Exports Driven by North America & Asia
Increasing Seaborne Exports Driven by North America & Asia Seaborne Refined Product Exports North America & Asia Clean Product Exports Million barrels per day Million barrels per day Previous 5Y Range 2026 CPP Exports Previous 5Y AVG 23.0 11.0 22.0 10.5 21.0 10.0 20.0 9.5 19.0 9.0 18.0 17.0 8.5 16.0
Slide 13: Offsetting Lower Middle East & Russian Exports
Offsetting Lower Middle East & Russian Exports Weekly Strait of Hormuz and Yanbu Crude and Refined Product Flows Middle East and Russian Refined Product Exports Million barrels per day Million barrels per day Crude Oil - Via Hormuz Crude Oil - Yanbu Exports Middle East Russia 24.0 8.0 Refined Produc
Slide 14: Strong Refining Margins Incentivize Refiners to Run Flat Out
Strong Refining Margins Incentivize Refiners to Run Flat Out Global Refining Margins Asia, North America & Europe Refinery Maintenance $USD per barrel Million barrels per day FY-25 FY-26 FY-26e $24 10 $21 9 8 $18 7 Typical Fall Maintenance $15 6 $12 5 $9 4 3 $6 2 Expected 2026 Fall $3 Maintenance 1
Slide 15: Global Inventory Restocking Expected to be a Tailwind for Seaborne Volumes
Global Inventory Restocking Expected to be a Tailwind for Seaborne Volumes Global Visible Crude & Product Inventories (1) US Diesel Inventories (2) Million barrels Million barrels 5Y Range 2025 2026 8,100 135 130 8,000 125 7,900 120 115 7,800 110 7,700 105 7,600 100 Mar-25 Apr-25 Mar-26 Apr-26 Sep-2
Slide 16: Changes in Global Refining Capacity Continue to Drive Ton-Mile Demand
Changes in Global Refining Capacity Continue to Drive Ton-Mile Demand Net Refining Capacity Growth from 2020 through 2026 (1) MR & Aframax/LR2 Ton-Mile Demand Since 2019 (2) Million barrels per day Index = 100, Base January 2019 MR Aframax/LR2 140 Middle East 2.1 China 1.2 130 Africa 0.6 120 India 0
Slide 17: Newbuilding Orders Have Slowed & Half the Orderbook Is LR2s
Newbuilding Orders Have Slowed & Half the Orderbook Is LR2s Product Tanker Orderbook as % of Fleet (1) % of LR2 Fleet Trading in Crude Oil & Dirty Products (2) % of fleet % of fleet % Trading Crude/Dirty Petroleum Products 70.0% 63.2% 70.0% 70% Sept 2026 Product Tanker Orderbook LR2 50.6% 60.0% MR 3
Slide 18: 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 35.0% Average 30.0% Age
Slide 19: 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 3,500 5.9% 5.6% 3,000 4.7% 4.1% 3.6% 3.4% 2,500 3.0% 2,000 0.1% 1,500 -1.0% 1,000 500 0 2015 2022 2000 2001 2002 2003 2
Slide 20: Financials
Financials 20
Slide 21: Financial Highlights
Financial Highlights Financial Highlights Q2-26 (1) Net Cash $USD millions $USD millions Net Cash Gross Debt Outstanding Cash & Cash Equivalents $450 $1,307 $391.8 $387.5 $389.1 $984 $400 $350 $124 $1,839 $1,962 $300.5 $300.8 $300 $752 $230 $377 $356 $333 $243.7 $250 -$628 -$655 -$878 -$855 $200 -$1
Slide 22: 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 Margins, % Lease Financing Bank Facilities Unsecured Notes Convertible Bonds $3,500 4.0% $3,164 3.5% $3,000 $278 3.5% $70 3.0% $2,50
Slide 23: 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 $USD millions Total Cash & Liquidity Paid Remaining Cash & Cash Equivalents as of July 28, 2026 $300.0 $2,800 $257.6 $264.9 $262.8 Availability Under Revolving Cr
Slide 24: Significant Operating Leverage & Earnings Potential
Significant Operating Leverage & Earnings Potential Company Fleet TCE Rates Potential Annual Cash Flow Generation (1) $USD per day $USD millions Company Achieved TCE Rate Cash Breakeven $56,000 $48,000 $1,341 $40,000 $1,068 $32,000 $794 $26.8/Share $24,000 $21.3/Share $520 $16,000 $15.9/Share $246 $
Slide 25: A Transformed Balance Sheet Built to Generate & Deliver Strong Returns
A Transformed Balance Sheet Built to Generate & Deliver Strong Returns Modern Massive Ultra-Low Cash Shareholder Fleet Deleveraging Break-Even Returns 75 (1) $1,307M (3) $11,000 $0.45 Quarterly Product Tankers Net Cash Per Day Dividend / Share Average age of ~10.2 years (1) and From $2.9 billion of
Slide 26: Appendix
Appendix 26
Slide 27: Chartered Out Vessels
Chartered Out Vessels Vessel Vessel Class Term Average Rate ($/day) Commencement date STI Battersea Handymax 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 Notting Hill MR Three Years $25,000 Q3-26 STI Westminster MR T
Slide 28: Newbuilding Vessels
Newbuilding Vessels Vessel Vessel Class DWT Yard Expected Delivery Date Hull YZJF2024-002 MR 49,800 Jingjiang Nanyang Shipbuilding Q1 - 2027 Hull YZJF2024-003 MR 49,800 Jingjiang Nanyang Shipbuilding Q2 - 2027 Hull YZJF2024-004 MR 49,800 Jingjiang Nanyang Shipbuilding Q2 - 2027 Hull YZJ2026-1869 MR
Slide 29: 50% of Aframax/LR2 Fleet Will Be LR2s by 2028, While >80% of Volumes Are Crude Oil
50% of Aframax/LR2 Fleet Will Be LR2s by 2028, While >80% of Volumes Are Crude Oil Aframax/LR2 Fleet Development (1) 83% of Aframax/LR2 Cargoes Have Been Crude Oil Since 2016 (2) Number of vessels % of Fleet % of Aframax/LR2 volumes Aframax LR2 LR2 % of Aframax/LR2 Fleet (RHS) Crude as % of Aframax/
Slide 30: www.scorpiotankers.com
www.scorpiotankers.com