Scorpio Tankers (STNG) investor relations material

Executive summary

• Reported Q4 2025 adjusted EBITDA of $151.6 million and net income of $128.1 million, with full-year adjusted EBITDA of $567.9 million and net income of $344.3 million.

• Increased quarterly dividend by 12.5% to $0.45 per share, payable in March 2026.

• Achieved a net cash position of $308.9 million as of February 2026, with $937.1 million in cash and $1.7 billion in available liquidity.

• Upgraded fleet by selling 10 older vessels and investing in 10 newbuilds, including MR, LR2, and VLCC classes, with deliveries through 2029.

• Fully exited DHT Holdings investment, realizing a $30 million gain.

Financial highlights

• Q4 2025 vessel revenue was $252.7 million, with TCE revenue of $241.4 million and average daily TCE of $28,066.

• Adjusted EBITDA margin for Q4 2025 was 60.7%, and net margin was 50.7%.

• Net debt reduced to negative $308.9 million as of February 2026, with $937.1 million in cash and $767 million undrawn revolver capacity.

• Prepaid $154.6 million in secured credit facilities, covering all scheduled amortization through 2027.

• Cash break-even reduced to $11,000 per day, the lowest in company history.

Outlook and guidance

• Market fundamentals remain supportive, with strong demand, constrained supply, and elevated product tanker rates.

• As of early Q1 2026, 70% of LR2 and 63% of MR revenue days were fixed at average TCEs of $46,000 and $27,500, respectively.

• Fleet growth projected to average 3% over the next three years, potentially lower due to aging vessels and sanctions.

• Strategy focuses on maintaining a high-quality, modern fleet and returning capital to shareholders.

• Dividend policy aims for sustainable growth through the cycle, with regular reviews.