Scorpio Tankers Inc. · NYSE:STNG
Scorpio Tankers — Q3 2026 Earnings Presentation
23 slides from Scorpio Tankers's earnings presentation, Oct 28, 2026
Slide 1: Third Quarter 2026 Earnings Presentation
Scorpio Tankers Inc. Third Quarter 2026 Earnings Presentation October 28, 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: Q3 2026 Call Agenda
Q3 2026 Call Agenda 1. Highlights 2. Product Tanker Market 3. Financial Highlights 4. Conclusion 5. Q&A
Slide 4: Highlights
Highlights 4
Slide 5: Highlights
Highlights Financial Results Quarterly TCE Rates (2) • Adjusted EBITDA of $172.2 million (1) $USD per day Q3-26 Q4-26 as of October 27, 2026 • Adjusted net income of $127.4 million or $2.79 basic and $2.49 diluted earnings per share (1) % of Days $181,000 Booked Quarterly Dividend Increase of 67% •
Slide 6: Product Tanker Market
Product Tanker Market 6
Slide 7: Increasing Middle East Crude Exports Leading to Higher Refinery Runs
Increasing Middle East Crude Exports Leading to Higher Refinery Runs Middle East Crude & Refined Product Exports (1) Global Refinery Runs (2) Million barrels per day Million barrels per day Runs Forecast Runs Crude/DPP CPP 30.0 88.0 25.3 25.0 24.6 24.5 24.3 86.0 24.2 23.2 4.9 4.3 4.3 4.9 4.7 4.2 20.
Slide 8: Higher Runs Have Increased Seaborne Exports & Product Tanker Earnings
Higher Runs Have Increased Seaborne Exports & Product Tanker Earnings World Seaborne Refined Product Exports (1) Increasing Asian Refined Product Exports Driving Rates Higher (1)(2) Million barrels per day Million barrels per day $/day Previous 5Y Range 2026 CPP Exports Previous 5Y AVG Asian CPP Exp
Slide 9: Additional Volumes Needed to Meet Demand Before Inventories Can Rebuild
Additional Volumes Needed to Meet Demand Before Inventories Can Rebuild Global Refined Product Demand (1) Global Visible Crude & Product Inventories (1) Million barrels per day Million barrels 76 8,100 8,000 7,900 75 7,800 7,700 7,600 74 7,500 7,400 73 US Diesel Inventories (2) 72 Million barrels 5Y
Slide 10: 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, January 2019 = 100 MR Aframax/LR2 140 Middle East 2.1 China 1.2 130 Africa 0.6 120 India 0.5 FS
Slide 11: Aging Fleet, Sanctions & LR2 Crude Trading Limit Effective Supply Growth (1/2)
Aging Fleet, Sanctions & LR2 Crude Trading Limit Effective Supply Growth (1/2) Product Tanker Orderbook vs % of Fleet Above 20 Years Old (1) Sanctioned Tankers as % of the Global Fleet & Average Age (1)(2) % of fleet Sanctioned fleet as % of global active fleet Sanctioned fleet average age Average 3
Slide 12: Aging Fleet, Sanctions & LR2 Crude Trading Limit Effective Supply Growth (2/2)
Aging Fleet, Sanctions & LR2 Crude Trading Limit Effective Supply Growth (2/2) Product Tanker Fleet Growth (1)(2) Product Tanker Orderbook – Half the Orderbook is LR2s (1) Fleet growth Scenario 1 Scenario 2 Scenario 3 % of fleet Oct 2026 Product Tanker Orderbook 70% 63.2% LR2 50.1% 60% MR 38.0% LR1
Slide 13: Financial Highlights
Financial Highlights 13
Slide 14: Financial Highlights
Financial Highlights Financial Highlights Q3-26 (1) Net Cash $USD millions $USD millions Net Cash Gross Debt Outstanding Cash & Cash Equivalents $300 $1,387 $1,397 $249.1 $250 $224.3 $2,042 $2,052 $124 $200.0 $200 $752 $172.2 $175.5 $230 $377 $356 $333 $152.6 $150 -$628 -$655 -$655 -$878 $127.4 -$1,
Slide 15: 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 Outstanding Debt (1) $USD millions Lease Financing Bank Facilities Unsecured Notes Convertible Bonds Margins, % $3,500 4.0% $3,164 3.5% 3.5% $3,000 $278 $70 3.0%
Slide 16: 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 Total Cash & Liquidity $USD millions Remaining Cash & Cash Equivalents as of Oct 26, 2026 $500.0 $481.9 $2,800 Availability Under Revolving Credit Facilities $2,5
Slide 17: Significant Operating Leverage & Earnings Potential
Significant Operating Leverage & Earnings Potential Company Fleet TCE Rates Potential Annual Cash Flow Generation (2) $USD per day Company Achieved TCE Rate $USD millions Q4-26 as of October 27, 2026 (1) $70,000 Cash Breakeven $1,341 $60,000 $50,000 $1,068 $40,000 $794 $26.3/Share $30,000 $20.9/Shar
Slide 18: Conclusion
Conclusion 18
Slide 19: 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 74 (1) $1.4B (3) $11,000 $0.75 Quarterly Product Tankers Net Cash Per Day Dividend / Share Average age of ~10.3 years (1) and From $2.9 billion of ne
Slide 20: Chartered Out Vessels
Chartered Out Vessels No. Vessel Vessel Class Term Average Rate ($/day) Commencement Date 1 STI Battersea Handymax Two Years $24,000 April-25 2 STI Jardins MR Three Years $29,550 October-24 3 STI Bosphorus (1) MR Twelve Years $21,000 August-25 4 STI Notting Hill MR Three Years $25,000 Q4-26 5 STI We
Slide 21: Newbuilding Vessels
Newbuilding Vessels (1) No. Vessel Vessel Class DWT Yard Expected Delivery Date 1 Hull YZJF2024-002 MR 49,800 Jingjiang Nanyang Shipbuilding Q1 - 2027 2 Hull YZJF2024-003 MR 49,800 Jingjiang Nanyang Shipbuilding Q2 - 2027 3 Hull YZJF2024-004 MR 49,800 Jingjiang Nanyang Shipbuilding Q2 - 2027 4 Hull
Slide 22: Q&A
Q&A 22
Slide 23: www.scorpiotankers.com
www.scorpiotankers.com