Scorpio Tankers (STNG) Capital Link’s 2026 Virtual Corporate Presentation Series summary

Market Overview and Recent Trends

• Product tanker rates have surged, with LR2s earning over $50,000/day and MRs near $30,000/day, reflecting tightening supply and robust demand across all major regions.

• Time-charter demand is strong and diversified, with major players securing long-term charters, indicating broad market confidence.

• Geopolitical events, refinery closures, and shifts in global trade routes are driving longer voyages and higher ton-mile demand, up 20% since 2019.

• Spot and time-charter markets are moving up in unison, with both East and West markets showing strength.

• Product tanker earnings remain at historically high levels, supported by global events and supply constraints.

Company Overview

• Operates the world's largest product tanker fleet, with 93 eco-efficient vessels averaging 9.8 years in age and 8 newbuilds on order.

• Headquartered in Monaco, incorporated in the Marshall Islands, and listed on the NYSE.

• Maintains a diversified blue-chip customer base, including major oil companies.

• By end of Q1 2026, expects to have 89 eco product tankers on the water.

• Focused on maintaining high fleet quality and operational efficiency.

Financial and Operational Highlights

• Maintains a net cash position of $383 million, with total liquidity of $1.7 billion and trailing 12-month EBITDA of $520 million.

• Reduced total indebtedness by $2.5 billion since 2021 and returned over $1 billion to shareholders via buybacks and dividends.

• Achieved adjusted EBITDA of $416.4 million for the nine months ended September 2025.

• All-in daily cash break-even is $11,000, enabling positive cash flow even in low-rate environments.

• Increased quarterly dividend to $0.42/share, with a focus on sustainable, growing dividends through the cycle.