Scorpio Tankers (STNG) Conference Presentation summary

Company overview and fleet

• Operates the world's largest product tanker fleet with 99 eco-efficient vessels and an average fleet age of 9.5 years.

• No newbuildings on order, resulting in zero new capital expenditure for fleet expansion.

• Vessels are employed in established pools with a strong record of outperforming the market.

• Diversified blue-chip customer base and listed on the NYSE.

• Headquartered in Monaco and incorporated in the Marshall Islands.

Market environment and industry trends

• Product tanker rates have significantly increased since Q1 2022, driven by robust demand and low inventories.

• Seaborne refined product exports rose by 1.2 million barrels per day year-over-year.

• Global refinery closures and additions are reshaping trade flows and increasing ton-mile demand.

• Orderbook as a percentage of the fleet is at a multi-decade low, with newbuild ordering slowing and a significant portion of the fleet aging out.

• Most sanctioned vessels are over 18 years old, reducing effective fleet growth.

Financial highlights and capital allocation

• Q2 2025 cash and cash equivalents stood at $222.8 million, with total liquidity of $1.3 billion.

• Reduced overall indebtedness by approximately $2.2 billion from December 2021 to June 2025.

• From January 2023 to June 2025, repurchased $826 million in shares and paid $182 million in dividends.

• Significant operating leverage: a $10,000/day increase in freight rates could generate ~$361 million in incremental annualized cash flow.

• Q2 2025 TCE rates and cash flow generation remain strong, with potential for further upside.