Scorpio Tankers Inc. Announces Financial Results for the Third Quarter of 2025 and an Increase to Its Quarterly Dividend

MONACO, Oct. 30, 2025 (GLOBE NEWSWIRE) -- Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers" or the "Company") today reported its results for the three months ended September 30, 2025. The Company also announced that its board of directors (the "Board of Directors") has declared a quarterly cash dividend on its common shares of $0.42 per share. Results for the three months ended September 30, 2025 and 2024 For the three months ended September 30, 2025, the Company had net income of $84.5 million, or $1.81 basic and $1.73 diluted earnings per share. For the three months ended September 30, 2025, the Company had adjusted net income (see Non-IFRS Measures section below) of $72.7 million, or $1.56 basic and $1.49 diluted earnings per share, which excludes from net income (i) a $12.7 million, or $0.27 per basic and $0.26 per diluted share, fair value gain on financial assets measured at fair value, and (ii) a $0.9 million, or $0.02 per basic and diluted share, loss on the extinguishment of debt and write-offs of deferred financing fees. For the three months ended September 30, 2024, the Company had net income of $158.7 million, or $3.31 basic and $3.16 diluted earnings per share. For the three months ended September 30, 2024, the Company had adjusted net income (see Non-IFRS Measures section below) of $87.7 million, or $1.83 basic and $1.75 diluted earnings per share, which excludes from net income (i) a $69.3 million, or $1.45 per basic and $1.38 per diluted share, gain on sales of vessels, (ii) a $2.8 million, or $0.06 per basic and diluted share, gain on sale of a vessel within a joint venture, and (iii) a $1.1 million, or $0.02 per basic and diluted share, fair value loss on financial assets measured at fair value. Results for the nine months ended September 30, 2025 and 2024 For the nine months ended September 30, 2025, the Company had net income of $216.2 million, or $4.66 basic and $4.46 diluted earnings per share. For the nine months ended September 30, 2025, the Company had adjusted net income (see Non-IFRS Measures section below) of $189.5 million, or $4.09 basic and $3.91 diluted earnings per share, which excludes from net income (i) a $29.7 million, or $0.64 per basic and $0.61 per diluted share, fair value gain on financial assets measured at fair value, and (ii) a $3.0 million, or $0.07 per basic and $0.06 per diluted share, loss on the extinguishment of debt and write-offs of deferred financing fees. For the nine months ended September 30, 2024, the Company had net income of $600.2 million, or $12.18 basic and $11.62 diluted earnings per share. For the nine months ended September 30, 2024, the Company had adjusted net income (see Non-IFRS Measures section below) of $482.6 million, or $9.79 basic and $9.34 diluted earnings per share, which excludes from net income (i) a $124.0 million, or $2.52 per basic and $2.40 per diluted share, gain on sales of vessels, (ii) a $2.8 million, or $0.06 per basic and $0.05 per diluted share, gain on sale of a vessel within a joint venture, (iii) a $1.1 million, or $0.02 per basic and diluted share, fair value loss on financial assets measured at fair value, and (iv) a $8.1 million, or $0.16 per basic and diluted share, write-off or acceleration of the amortization of deferred financing fees related to unscheduled debt and lease payments and debt extinguishment costs on certain lease financing obligations. Declaration of Dividend On October 29, 2025, the Company's Board of Directors declared a quarterly cash dividend of $0.42 per common share, with a payment date of December 5, 2025 to all shareholders of record as of November 14, 2025 (the record date). As of October 29, 2025, there were 51,762,790 common shares of the Company issued and outstanding. Summary of Third Quarter 2025 and Other Recent Significant Events Below is a summary of the average daily Time Charter Equivalent ("TCE") revenue (see Non-IFRS Measures section below) and duration of contracted voyages and time charters for the Company's vessels (both in the pools and outside of the pools) thus far in the fourth quarter of 2025 as of the date hereof (See footnotes to "Other operating data" table below for the definition of daily TCE revenue): Pool and Spot Market Time Charters Out of the Pool Bareboat Charter Out of the Pool Average DailyTCE RevenueExpected Revenue Days(1)% of Days Average DailyTCE RevenueExpected Revenue Days(1) AverageDaily RevenueExpected Revenue Days(1)% of DaysLR2$28,5002,43244% $31,400901 $——100%MR$23,5003,80346% $23,000283 $12,98692100%Handymax$20,5001,18235% $23,00091 $——100% (1) Expected Revenue Days are the total number of calendar days in the quarter for each vessel, less the total number of estimated off-hire days during the period associated with repairs or drydockings. Consequently, Expected Revenue Days represent the total number of days the vessel is expected to be available to earn revenue. Idle days, which are days when a vessel is available to earn revenue, yet is not employed, are included in revenue days. The Company uses revenue days to show changes in net vessel revenues between periods. Below is a summary of the average daily TCE revenue earned by the Company's vessels during the third quarter of 2025: Average Daily TCE RevenueDaily Bareboat Charter RateVessel classPool / SpotTime ChartersLR2$31,481$31,482$—MR$24,085$22,968$12,986Handymax$19,544$22,903$— In October 2025, the Company reached agreements with the lenders on certain of its secured credit facilities to make unscheduled prepayments totaling $154.6 million in aggregate. This amount represents the scheduled principal amortization due under the Company's credit facilities from January 1, 2026 through December 31, 2027. These prepayments are expected to occur in the fourth quarter of 2025.In October 2025, the Company entered into a time charter-out agreement on an LR2 product tanker, STI Spiga, for one year at a rate of $35,000 per day.In September 2025, the Company entered into agreements to sell two 2019 built scrubber-fitted LR2 product tankers, STI Lobelia and STI Lavender, for $61.2 million per vessel, and the 2020 built scrubber-fitted MR product tanker, STI Maestro, for $42.0 million. The sales of these vessels are expected to close within the fourth quarter of 2025.In August 2025, the Company commenced a time charter-out agreement on an LR2 product tanker, STI Orchard, for a term of five years at a rate of $28,350 per day.In August 2025, the Company commenced a bareboat charter-out agreement on an MR product tanker, STI Bosphorus, at a bareboat rate of $13,150 per day (which is equivalent to a time charter equivalent rate of approximately $21,000 per day). The vessel is chartered to a third-party joint venture which re-flagged the vessel to the United States in order for it to participate in the U.S. Government’s Tanker Security Program (TSP). The contract will remain in effect until the vessel reaches 20 years of age, which will occur in 2037, subject to annual renewal within the National Defense Authorization Act (“NDAA”).During the third quarter of 2025, the Company sold 4,778,000 common shares of DHT Holdings Inc. (“DHT”) at an average price of $12.50 per share. In October 2025, the Company sold an additional 502,686 common shares at an average price of $12.71 per share. The Company owns 3,551,794 common shares of DHT as of October 28, 2025. Securities Repurchase Program As of October 28, 2025, there is $173.4 million available under the Company's 2023 Securities Repurchase Program. Diluted Weighted Number of Shares The computation of earnings per share is determined by taking into consideration the potentially dilutive shares arising from the Company’s equity incentive plan. These potentially dilutive shares are excluded from the computation of earnings per share to the extent they are anti-dilutive. For the three months ended September 30, 2025, the Company’s basic weighted average number of shares outstanding was 46,599,567. For the three months ended September 30, 2025, the Company’s diluted weighted average number of shares outstanding was 48,818,293, which included the potentially dilutive impact of restricted shares issued under the Company’s equity incentive plan. Conference Call Title: Scorpio Tankers Inc. Third Quarter 2025 Conference Call Date: Thursday, October 30, 2025 Time: 9:00 AM Eastern Daylight Time and 2:00 PM Central European Time The conference call will be available over the internet, through the Scorpio Tankers Inc. website www.scorpiotankers.com and the webcast link: https://edge.media-server.com/mmc/p/frquv57j Participants for the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. The conference will also be available telephonically: US/CANADA Dial-In Number: 1-833-636-1321 International Dial-In Number: +1-412-902-4260 Please ask to join the Scorpio Tankers Inc. call. Participants should dial into the call 10 minutes before the scheduled time. Current Liquidity As of October 28, 2025, the Company had $626.7 million in unrestricted cash and cash equivalents and $788.3 million of undrawn revolver capacity, which includes $247.4 million of availability under the revolving portion of the 2023 $1.0 Billion Credit Facility, $40.9 million of availability under the 2023 $225.0 Million Revolving Credit Facility and $500.0 million of availability under the 2025 $500.0 Million Revolving Credit Facility. Within the next two weeks, the Company expects to receive approximately $61.8 million from the Scorpio pools with respect to the monthly cash distribution for October 2025. Additionally, the Company expects to receive $159.5 million in net proceeds (after estimated selling costs) from the sales of STI Maestro, STI Lobelia and STI Lavender during the fourth quarter of 2025. The debt related to these vessels was repaid in September and October 2025. After taking into account these two inflows, and deducting recently announced debt prepayments (described further below) the Company's pro-forma cash and gross debt positions as of October 28, 2025 are $626.2 million and $660.1 million, respectively. Debt Set forth below is a summary of the principal balances of the Company’s outstanding indebtedness as of the dates presented: In thousands of U.S. DollarsOutstanding Principalas of June 30, 2025Outstanding Principalas of September 30, 2025Outstanding Principalas of October 28, 202512023 $225.0 Million Revolving Credit Facility 102,610 102,610 102,61022023 $49.1 Million Credit Facility 38,703 37,549 37,54932023 $117.4 Million Credit Facility 83,380 79,127 79,12742023 $1.0 Billion Credit Facility(1) 351,213 333,457 319,42352023 $94.0 Million Credit Facility 78,409 75,992 75,9926Ocean Yield Lease Financing(2) 20,772 20,010 19,73872021 Ocean Yield Lease Financing(3) 49,316 47,841 47,3448Unsecured Senior Notes Due 2030 200,000 200,000 200,00092025 $500.0 Million Revolving Credit Facility — — — Gross debt outstanding 924,403 896,586 881,783 Cash and cash equivalents 471,062 603,205 626,656 Net debt$453,341$293,381$255,127 (1) In August 2025, the Company commenced a bareboat charter-out agreement on an MR product tanker, STI Bosphorus, at a bareboat rate of $13,150 per day (which is equivalent to a time charter equivalent rate of approximately $21,000 per day). The legal structure of this agreement triggered a mandatory prepayment of the outstanding debt related to this vessel under the Company's 2023 $1.0 Billion Credit Facility. Accordingly, the Company prepaid $12.7 million on this facility in July 2025 in advance of the commencement date, consisting of $3.5 million on the term portion of the loan and $9.2 million on the drawn revolving portion, which cannot be redrawn. The undrawn revolving portion of this facility was not impacted by this prepayment. In September 2025, the Company entered into an agreement to sell the 2020 built scrubber-fitted MR product tanker, STI Maestro, for $42.0 million. The outstanding debt of $5.1 million was repaid on the 2023 $1.0 Billion Credit Facility in September 2025, with a corresponding $10.2 million reduction in the undrawn revolving portion of the facility. This sale is expected to close within the fourth quarter of 2025. In September 2025, the Company entered into an agreement to sell two 2019 built scrubber-fitted LR2 product tankers, STI Lobelia and STI Lavender, for $61.2 million per vessel. An aggregate of $14.0 million was repaid during October 2025 on the 2023 $1.0 Billion Credit Facility, with a corresponding $30.7 million reduction in the undrawn revolving portion of the facility. These sales are expected to close within the fourth quarter of 2025. (2) In July 2025, the Company submitted notice to exercise the purchase option on the LR2 product tanker that is financed under this arrangement, STI Symphony. This vessel is scheduled to be purchased in February 2026 and the outstanding lease obligation on the date of purchase is scheduled to be $18.9 million. (3) In June 2025, the Company submitted notice to exercise the purchase options on the two LR2 product tankers that are currently financed under this arrangement, STI Guard and STI Gallantry. These vessels are scheduled to be purchased in December 2025 and the aggregate outstanding lease obligation on the date of purchase is scheduled to be $46.8 million. Set forth below are the estimated expected future principal repayments on the Company's outstanding indebtedness, which includes principal amounts due under the Company's secured credit facilities, lease financing arrangements and Unsecured Senior Notes Due 2030 (which also include actual scheduled payments made from October 1, 2025 through October 28, 2025): Outstanding Debt at September 30, 2025 In millions of U.S. dollars Repayments/maturities of unsecured debtUnscheduledPrepaymentsVessel financings - scheduled repayments, in addition to maturities in 2027 and thereafterTotal(1)AnnouncedPrepayments(5)Pro Forma, including Announced PrepaymentsOctober 1, 2025 to October 28, 2025(2) $—$14.0$0.8$14.8$— $14.8Remaining Q4 2025(3) — 46.8 8.9 55.7 154.6 210.3Q1 2026(4) — 18.9 8.2 27.1 (7.8) 19.3Q2 2026 — — 7.8 7.8 (7.8) —Q3 2026 — — 25.3 25.3 (25.3) —Q4 2026 — — 25.3 25.3 (25.3) —2027 — — 88.4 88.4 (88.4) —2028 and thereafter 200.0 — 452.2 652.2 — 652.2 $200.0$79.7$616.9$896.6$— $896.6 (1) Amounts represent the principal payments due on the Company’s outstanding indebtedness as of September 30, 2025. (2) In October 2025, the Company prepaid $14.0 million on the 2023 $1.0 Billion Credit Facility related in advance of the pending sales of STI Lobelia and STI Lavender. (3) The unscheduled prepayments reflect the aggregate outstanding lease liability on STI Guard and STI Gallantry, which are currently financed under the 2021 Ocean Yield Lease Financing. In June 2025, the Company submitted notice to exercise the purchase options on these vessels in December 2025. (4) The unscheduled prepayments reflect the outstanding lease liability on STI Symphony, which is currently financed under the Ocean Yield Lease Financing. In July 2025, the Company submitted notice to exercise the purchase option on this vessel in February 2026. (5) In October 2025, the Company reached agreements with the lenders on certain of its secured credit facilities to make unscheduled prepayments totaling $154.6 million in aggregate. This amount represents the scheduled principal amortization due under the Company's credit facilities from January 1, 2026 through December 31, 2027. These prepayments are expected to occur in the fourth quarter of 2025. Drydock and Off-Hire Update Set forth below is a table summarizing the drydock activity that occurred during the third quarter of 2025 and the estimated expected payments to be made for the Company's drydocks through the end of 2026. This table also includes an estimate of off-hire days for these periods which includes (i) estimated off-hire days for drydocks, and (ii) estimated off-hire time for general repairs. Number of vessels for drydock(3) Estimated aggregate drydock costs in millions of USD(1) Estimated aggregate off-hire days (both drydock and general repairs)(2) LR2sMRsHandymaxQ3 2025 - actual$16.8 200 210Q4 2025 - estimated 14.7 179 310Q1 2026 - estimated 4.6 136 200Q2 2026 - estimated 7.6 156 300Q3 2026 - estimated 5.3 136 200Q4 2026 - estimated 6.0 136 200 (1) These costs include estimated cash payments for drydocks. These amounts may include costs incurred for previous projects for which payments may not be due until subsequent quarters, or payments that are due in advance of the scheduled service and may be scheduled to occur in quarters prior to the actual drydocks. The timing of the payments set forth are estimates only and may vary as the timing of the related drydocks finalize. (2) Represents the total estimated off-hire days during the period for both drydockings or general repairs, including vessels that commenced work in a previous period. The number of off-hire days set forth in this table are estimates only and actual off-hire days may vary. (3) Represents the number of vessels scheduled to commence drydock. It does not include vessels that commenced work in prior periods but will be completed in a subsequent period. Additionally, the timing set forth in these tables may vary as drydock times are finalized. Explanation of Variances on the Third Quarter of 2025 Financial Results Compared to the Third Quarter of 2024 For the three months ended September 30, 2025, the Company recorded net income of $84.5 million compared to net income of $158.7 million for the three months ended September 30, 2024. The following were the significant changes between the two periods: TCE revenue, a Non-IFRS measure, is vessel revenues less voyage expenses (including bunkers and port charges). TCE revenue is included herein because it is a standard shipping industry performance measure used primarily to compare period-to-period changes in a shipping company's performance irrespective of changes in the mix of charter types (i.e., spot voyages, time charters, and pool charters), and it provides useful information to investors and management. The following table sets forth TCE revenue for the three months ended September 30, 2025, and 2024: For the three months ended September 30,In thousands of U.S. dollars 2025 2024 Vessel revenue $241,361 $267,986 Voyage expenses (8,440) (9,785)TCE revenue $232,921 $258,201 TCE revenue for the three months ended September 30, 2025 decreased by $25.3 million to $232.9 million, from $258.2 million for the three months ended September 30, 2024. Overall, the average daily TCE revenue decreased to $26,231 per vessel during the three months ended September 30, 2025, from $28,488 per vessel during the three months ended September 30, 2024. The average number of vessels was 99.0 during the three months ended September 30, 2025 as compared to 104.8 during the three months ended September 30, 2024.TCE revenue for the three months ended September 30, 2025 declined as compared to the same period in the previous year. Both periods were characterized by strong demand driven by growing underlying consumption of refined petroleum products and robust export volumes. During the three months ended September 30, 2024, the product tanker market was also impacted by inflated freight rates as much of the global shipping fleet avoided the Southern Red Sea due to attacks on commercial vessels in that region. By 2025, while the situation in the Southern Red Sea remained unresolved, trade patterns and supply chains for refined petroleum products adjusted, and the spike in daily spot TCE rates caused by the initial disruption normalized. This led to a reduction in TCE revenue during the three months ended September 30, 2025 as compared to the same period in the prior year. Vessel operating costs for the three months ended September 30, 2025 decreased by $6.6 million to $74.3 million, from $80.9 million for the three months ended September 30, 2024. The decrease in vessel operating costs was primarily driven by a decrease in the average number of vessels as a result of the sales of 12 vessels throughout 2024. Additionally, average daily vessel operating costs decreased slightly to $8,162 per vessel for the three months ended September 30, 2025 from $8,395 per vessel for the three months ended September 30, 2024. This improvement was driven by small improvements spread across several different expense categories.Depreciation expense for the three months ended September 30, 2025 increased by $0.8 million to $46.4 million, from $45.5 million for the three months ended September 30, 2024. This increase was primarily attributable to the increased depreciation stemming from the completed drydocks during 2024 and the first nine months of 2025. This increase was partially offset by a decrease in depreciation resulting from six vessels either being sold or classified as held for sale since the third quarter of 2024.General and administrative expenses for the three months ended September 30, 2025 decreased by $0.4 million to $29.6 million, from $30.0 million for the three months ended September 30, 2024 primarily due to decreases in cash compensation, administrative services costs and professional fees. These decreases were partially offset by an increase in the amortization of restricted stock.Financial expenses for the three months ended September 30, 2025 decreased by $0.9 million to $20.0 million, from $20.9 million for the three months ended September 30, 2024. This decrease was primarily attributable to the overall reduction in interest expense on debt and sale leaseback arrangements due to the Company's deleveraging efforts. Average indebtedness was $910.6 million during the three months ended September 30, 2025 as compared to $980.5 million during the three months ended September 30, 2024. Additionally: The Company recorded a $0.9 million loss on the extinguishment of debt and write-offs of deferred financing fees during the three months ended September 30, 2025, as compared to a nominal amount during the three months ended September 30, 2024.Amortization of deferred financing fees was $1.8 million during the three months ended September 30, 2025, as compared to $2.0 million during the three months ended September 30, 2024. Dividend income and fair value gain on financial assets measured at fair value through profit or loss, net includes $2.1 million of dividends received from the Company's investment in DHT during the three months ended September 30, 2025 and a fair value gain of $12.7 million in the value of this investment as of September 30, 2025. Scorpio Tankers Inc. and SubsidiariesCondensed Consolidated Statements of Income(unaudited) For the three months ended September 30, For the nine months ended September 30,In thousands of U.S. dollars except per share and share data 2025 2024 2025 2024 Revenue Vessel revenue$241,361 $267,986 $685,570 $1,039,982 Operating expenses Vessel operating costs (74,343) (80,943) (213,682) (238,335)Voyage expenses (8,440) (9,785) (25,685) (18,547)Depreciation (46,350) (45,512) (136,357) (140,099)General and administrative expenses (29,591) (29,991) (87,717) (97,188)Gain on sales of vessels — 69,306 — 123,961 Total operating expenses (158,724) (96,925) (463,441) (370,208)Operating income 82,637 171,061 222,129 669,774 Other (expenses) and income, net Financial expenses (19,958) (20,883) (60,884) (91,204)Financial income 5,661 2,859 14,875 12,977 Share of income from dual fuel tanker joint venture 1,153 3,706 2,961 6,552 Dividend income and fair value gain on financial assets measured at fair value through profit or loss, net 14,799 957 35,421 957 Other income and (expenses), net 160 1,005 1,672 1,161 Total other expense, net 1,815 (12,356) (5,955) (69,557)Net income$84,452 $158,705 $216,174 $600,217 Earnings per share Basic$1.81 $3.31 $4.66 $12.18 Diluted$1.73 $3.16 $4.46 $11.62 Basic weighted average shares outstanding 46,599,567 47,941,734 46,353,838 49,285,618 Diluted weighted average shares outstanding(1) 48,818,293 50,150,721 48,475,460 51,644,038 (1) The computation of diluted earnings per share for the three and nine months ended September 30, 2025 and 2024, includes the effect of potentially dilutive unvested shares of restricted stock. Scorpio Tankers Inc. and SubsidiariesCondensed Consolidated Balance Sheets(unaudited) As ofIn thousands of U.S. dollarsSeptember 30, 2025 December 31, 2024Assets Current assets Cash and cash equivalents$603,205 $332,580 Financial assets measured at fair value through profit or loss 48,451 74,157 Accounts receivable 172,288 150,183 Prepaid expenses and other current assets 11,455 9,230 Inventories 11,564 10,173 Assets held for sale 120,951 — Total current assets 967,914 576,323 Non-current assets Vessels and drydock 2,989,706 3,190,820 Other assets 63,454 58,312 Goodwill 8,197 8,197 Total non-current assets 3,061,357 3,257,329 Total assets$4,029,271 $3,833,652 Current liabilities Current portion of long-term debt$61,991 $122,797 Lease liability - sale and leaseback vessels 68,735 8,592 Accounts payable 28,861 32,213 Accrued expenses and other liabilities 41,809 73,591 Total current liabilities 201,396 237,193 Non-current liabilities Long-term debt 753,677 665,887 Lease liability - sale and leaseback vessels — 64,691 Total non-current liabilities 753,677 730,578 Total liabilities 955,073 967,771 Shareholders' equity Issued, authorized and fully paid-in share capital: Share capital 778 760 Additional paid-in capital 3,212,762 3,159,548 Treasury shares (1,467,127) (1,466,818)Retained earnings 1,327,785 1,172,391 Total shareholders' equity 3,074,198 2,865,881 Total liabilities and shareholders' equity$4,029,271 $3,833,652 Scorpio Tankers Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(unaudited) For the nine months ended September 30,In thousands of U.S. dollars 2025 2024 Operating activities Net income$216,174 $600,217 Depreciation 136,357 140,099 Equity settled share based compensation expense 53,232 46,062 Amortization of deferred financing fees 5,442 7,714 Non-cash debt extinguishment costs 3,014 3,010 Net gain on sales of vessels — (123,961)Accretion of fair value measurement on debt assumed in business combinations 33 62 Fair value gain on financial assets measured at fair value through profit or loss (29,659) 1,091 Share of income from dual fuel tanker joint venture (2,961) (6,552)Dividend from financial assets measured at fair value through profit or loss (5,762) (2,047) 375,870 665,695 Changes in assets and liabilities: Increase in inventories (1,392) (762)(Increase) / decrease in accounts receivable (20,855) 36,407 Increase in prepaid expenses and other current assets (2,225) (1,419)Decrease in other assets 1,217 1,600 Increase in accounts payable and other liabilities 101 16,733 Decrease in accrued expenses (26,265) (6,312) (49,419) 46,247 Net cash inflow from operating activities 326,451 711,942 Investing activities Net proceeds from sales of vessels — 324,844 Distributions from dual fuel tanker joint venture 2,582 7,816 Investment in dual fuel tanker joint venture — (1,937)Purchases of financial assets measured at fair value through profit or loss (45,850) (89,137)Proceeds from sale of financial assets measured at fair value through profit or loss 101,215 — Dividend from financial assets measured at fair value through profit or loss 5,762 2,047 Drydock, ballast water treatment system and other vessel related payments (65,163) (54,324)Net cash (outflow) / inflow from investing activities (1,454) 189,309 Financing activities Debt repayments (181,536) (794,232)Issuance of debt 200,000 99,000 Debt issuance costs (11,747) (340)Dividends paid (60,780) (63,512)Repurchase of common stock (309) (296,717)Net cash outflow from financing activities (54,372) (1,055,801)Increase in cash and cash equivalents 270,625 (154,550)Cash and cash equivalents at January 1, 332,580 355,551 Cash and cash equivalents at September 30,$603,205 $201,001 Scorpio Tankers Inc. and SubsidiariesOther operating data for the three and nine months ended September 30, 2025 and 2024(unaudited) For the three months ended September 30, For the nine months ended September 30, 2025 2024 2025 2024Adjusted EBITDA(1)(in thousands of U.S. dollars except Fleet Data) $148,140 $166,080 $416,351 $736,866 Average Daily Results Fleet TCE per revenue day(2) $26,231 $28,488 $25,272 $35,822Bareboat charter hire rate per revenue day(2) $12,986 $— $12,986 $—Vessel operating costs per day(3) $8,162 $8,395 $7,906 $8,047Average number of vessels 99.0 104.8 99.0 108.1 LR2 TCE per revenue day(2) $31,482 $36,288 $31,542 $44,751Vessel operating costs per day(3) $8,761 $9,043 $8,565 $8,860Average number of vessels 38.0 39.0 38.0 39.0 MR TCE per revenue day(2) $23,962 $24,823 $21,839 $31,665Bareboat charter hire rate per revenue day(2) $12,986 $— $12,986 $—Vessel operating costs per day(3) $7,858 $8,092 $7,552 $7,639Average number of vessels 47.0 51.8 47.0 55.1 Handymax TCE per revenue day(2) $19,784 $19,605 $20,229 $26,904Vessel operating costs per day(3) $7,557 $7,705 $7,307 $7,380Average number of vessels 14.0 14.0 14.0 14.0 Capital Expenditures Drydock, scrubber, ballast water treatment system and other vessel related payments (in thousands of U.S. dollars) $16,780 $30,448 $65,163 $54,324 (1)See Non-IFRS Measures section below. (2)Freight rates are commonly measured in the shipping industry in terms of time charter equivalent per day (or TCE per day), which is calculated by subtracting voyage expenses, including bunkers and port charges, from vessel revenue and dividing the net amount (time charter equivalent revenues) by the number of revenue days in the period. Revenue days are the number of days vessels are part of the fleet less the number of days vessels are off-hire for drydock and repairs.For bareboat chartered-out vessels, the charterers are responsible for the vessel operating costs. (3)Vessel operating costs per day represent vessel operating costs divided by the number of operating days during the period. Operating days are the total number of available days in a period with respect to vessels that are owned, operating under a lease financing arrangement, or bareboat chartered-in, before deducting available days due to off-hire days and days in drydock. Operating days is a measurement that is only applicable to vessels that are owned, operating under a lease financing arrangement, or bareboat chartered-in, not time chartered-in vessels. Fleet list as of October 30, 2025 Vessel Name Year Built DWT Ice class Employment Vessel type Scrubber Owned and sale leaseback vessels 1STI Brixton 2014 38,734 1A SHTP (1) Handymax N/A2STI Comandante 2014 38,734 1A SHTP (1) Handymax N/A3STI Pimlico 2014 38,734 1A SHTP (1) Handymax N/A4STI Hackney 2014 38,734 1A SHTP (1) Handymax N/A5STI Acton 2014 38,734 1A SHTP (1) Handymax N/A6STI Fulham 2014 38,734 1A SHTP (1) Handymax N/A7STI Camden 2014 38,734 1A SHTP (1) Handymax N/A8STI Battersea 2014 38,734 1A Time Charter (5) Handymax N/A9STI Wembley 2014 38,734 1A SHTP (1) Handymax N/A10STI Finchley 2014 38,734 1A SHTP (1) Handymax N/A11STI Clapham 2014 38,734 1A SHTP (1) Handymax N/A12STI Poplar 2014 38,734 1A SHTP (1) Handymax N/A13STI Hammersmith 2015 38,734 1A SHTP (1) Handymax N/A14STI Rotherhithe 2015 38,734 1A SHTP (1) Handymax N/A15STI Duchessa 2014 49,990 — Time Charter (6) MR No16STI Opera 2014 49,990 — SMRP (2) MR No17STI Meraux 2014 49,990 — SMRP (2) MR Yes18STI Venere 2014 49,990 — SMRP (2) MR Yes19STI Virtus 2014 49,990 — SMRP (2) MR Yes20STI Aqua 2014 49,990 — SMRP (2) MR Yes21STI Dama 2014 49,990 — SMRP (2) MR Yes22STI Regina 2014 49,990 — SMRP (2) MR Yes23STI St. Charles 2014 49,990 — SMRP (2) MR Yes24STI Mayfair 2014 49,990 — SMRP (2) MR Yes25STI Yorkville 2014 49,990 — SMRP (2) MR Yes26STI Milwaukee 2014 49,990 — SMRP (2) MR Yes27STI Battery 2014 49,990 — SMRP (2) MR Yes28STI Soho 2014 49,990 — SMRP (2) MR Yes29STI Memphis 2014 49,990 — Time Charter (7) MR Yes30STI Gramercy 2015 49,990 — SMRP (2) MR Yes31STI Bronx 2015 49,990 — SMRP (2) MR Yes32STI Pontiac 2015 49,990 — SMRP (2) MR Yes33STI Queens 2015 49,990 — SMRP (2) MR Yes34STI Osceola 2015 49,990 — SMRP (2) MR Yes35STI Notting Hill 2015 49,687 1B SMRP (2) MR Yes36STI Seneca 2015 49,990 — SMRP (2) MR Yes37STI Westminster 2015 49,687 1B SMRP (2) MR Yes38STI Brooklyn 2015 49,990 — SMRP (2) MR Yes39STI Black Hawk 2015 49,990 — SMRP (2) MR Yes40STI Galata 2017 49,990 — SMRP (2) MR Yes41STI Bosphorus 2017 49,990 — Bareboat Charter (8) MR No42STI Leblon 2017 49,990 — SMRP (2) MR Yes43STI La Boca 2017 49,990 — SMRP (2) MR Yes44STI San Telmo 2017 49,990 1B SMRP (2) MR No45STI Donald C Trauscht 2017 49,990 1B SMRP (2) MR No46STI Esles II 2018 49,990 1B SMRP (2) MR No47STI Jardins 2018 49,990 1B Time Charter (9) MR No48STI Magic 2019 50,000 — SMRP (2) MR Yes49STI Mystery 2019 50,000 — SMRP (2) MR Yes50STI Marvel 2019 50,000 — SMRP (2) MR Yes51STI Magnetic 2019 50,000 — Time Charter (10) MR Yes52STI Millennia 2019 50,000 — SMRP (2) MR Yes53STI Magister 2019 50,000 — SMRP (2) MR Yes54STI Mythic 2019 50,000 — SMRP (2) MR Yes55STI Marshall 2019 50,000 — SMRP (2) MR Yes56STI Modest 2019 50,000 — SMRP (2) MR Yes57STI Maverick 2019 50,000 — SMRP (2) MR Yes58STI Miracle 2020 50,000 — Time Charter (11) MR Yes59STI Maestro 2020 50,000 — SMRP (2) (12) MR Yes60STI Mighty 2020 50,000 — SMRP (2) MR Yes61STI Maximus 2020 50,000 — SMRP (2) MR Yes62STI Elysees 2014 109,999 — SLR2P (3) LR2 Yes63STI Madison 2014 109,999 — SLR2P (3) LR2 Yes64STI Park 2014 109,999 — SLR2P (3) LR2 Yes65STI Orchard 2014 109,999 — Time Charter (13) LR2 Yes66STI Sloane 2014 109,999 — SLR2P (3) LR2 Yes67STI Broadway 2014 109,999 — SLR2P (3) LR2 Yes68STI Condotti 2014 109,999 — SLR2P (3) LR2 Yes69STI Rose 2015 109,999 — SLR2P (3) LR2 Yes70STI Veneto 2015 109,999 — SLR2P (3) LR2 Yes71STI Alexis 2015 109,999 — MPL (4) LR2 Yes72STI Winnie 2015 109,999 — SLR2P (3) LR2 Yes73STI Oxford 2015 109,999 — SLR2P (3) LR2 Yes74STI Lauren 2015 109,999 — SLR2P (3) LR2 Yes75STI Connaught 2015 109,999 — SLR2P (3) LR2 Yes76STI Spiga 2015 109,999 — MPL (4) (14) LR2 Yes77STI Kingsway 2015 109,999 — SLR2P (3) LR2 Yes78STI Solidarity 2015 109,999 — SLR2P (3) LR2 Yes79STI Lombard 2015 109,999 — Time Charter (15) LR2 Yes80STI Grace 2016 109,999 — Time Charter (16) LR2 Yes81STI Jermyn 2016 109,999 — Time Charter (17) LR2 Yes82STI Sanctity 2016 109,999 — SLR2P (3) LR2 Yes83STI Solace 2016 109,999 — SLR2P (3) LR2 Yes84STI Stability 2016 109,999 — SLR2P (3) LR2 Yes85STI Steadfast 2016 109,999 — SLR2P (3) LR2 Yes86STI Supreme 2016 109,999 — SLR2P (3) LR2 Yes87STI Symphony 2016 109,999 — SLR2P (3) LR2 Yes88STI Gallantry 2016 113,000 — SLR2P (3) LR2 Yes89STI Goal 2016 113,000 — SLR2P (3) LR2 Yes90STI Guard 2016 113,000 — Time Charter (18) LR2 Yes91STI Guide 2016 113,000 — Time Charter (19) LR2 Yes92STI Selatar 2017 109,999 — SLR2P (3) LR2 Yes93STI Rambla 2017 109,999 — SLR2P (3) LR2 Yes94STI Gauntlet 2017 113,000 — Time Charter (20) LR2 Yes95STI Gladiator 2017 113,000 — Time Charter (19) LR2 Yes96STI Gratitude 2017 113,000 — Time Charter (21) LR2 Yes97STI Lobelia 2019 110,000 — SLR2P (3) (12) LR2 Yes98STI Lotus 2019 110,000 — SLR2P (3) LR2 Yes99STI Lavender 2019 110,000 — Time Charter (22) (12) LR2 Yes Total Fleet DWT 7,092,312 (1)This vessel operates in the Scorpio Handymax Tanker Pool, or SHTP. SHTP is operated by Scorpio Commercial Management S.A.M. (SCM). SHTP and SCM are related parties to the Company.(2)This vessel operates in the Scorpio MR Pool, or SMRP. SMRP is operated by SCM. SMRP and SCM are related parties to the Company.(3)This vessel operates in the Scorpio LR2 Pool, or SLR2P. SLR2P is operated by SCM. SLR2P and SCM are related parties to the Company.(4)This vessel operates in the Mercury Pool Limited, or MPL. MPL is operated by SCM. MPL and SCM are related parties to the Company.(5)This vessel commenced a time charter in April 2025 for two years at a rate of $24,000 per day.(6)This vessel commenced a time charter in October 2022 for three years at an average rate of $25,000 per day. This vessel is expected to be redelivered in November 2025.(7)This vessel commenced a time charter in June 2022 for three years at an average rate of $21,000 per day. The daily rate is the average rate over the three-year period, which is payable during the first six months at $30,000 per day, the next six months are payable at $20,000 per day, and years two and three are payable at $19,000 per day. In July 2025, this time charter was extended for a period of 75 to 120 days at a rate of $21,500 per day commencing in August 2025. This vessel is expected to be redelivered in November 2025.(8)This vessel commenced a bareboat charter-out arrangement in August 2025 at a bareboat rate of $13,150 per day. The vessel is chartered to a third-party joint venture which re-flagged the vessel to the United States in order for it to participate in the U.S. Government’s Tanker Security Program (TSP). The contract will remain in effect until the vessel reaches 20 years of age, which will occur in 2037, subject to annual renewal within the National Defense Authorization Act (“NDAA”)(9)This vessel commenced a time charter in October 2024 for three years at a rate of $29,550 per day.(10)This vessel commenced a time charter in July 2022 for three years at an average rate of $23,000 per day. The daily rate is the average rate over the three-year period, which is payable in years one, two, and three at $30,000 per day, $20,000 per day, and $19,000 per day, respectively. In July 2025, this time charter was extended for a period of 75 to 120 days at a rate of $21,500 per day commencing in August 2025.(11)This vessel commenced a time charter in August 2022 for three years at an average rate of $21,000 per day. The daily rate is the average rate over the three-year period, which is payable during the first six months at $30,000 per day, the next six months are payable at $20,000 per day, and years two and three are payable at $19,000 per day. In July 2025, this time charter was extended for a period of 75 to 120 days at a rate of $21,500 per day commencing in August 2025.(12)The Company has entered into an agreement to sell this vessel which is expected to close in the fourth quarter of 2025.(13)This vessel commenced a time charter in August 2025 for five years at a rate of $28,350 per day.(14)This vessel entered into a time charter-out agreement with a related party for one year at a rate of $35,000 per day which is expected to commence in November 2025.(15)This vessel commenced a time charter in September 2022 for three years at an average rate of $32,750 per day. This vessel is expected to be redelivered in November 2025.(16)This vessel commenced a time charter in December 2022 for three years at an average rate of $37,500 per day. The daily rate is the average rate over the three-year period, which is payable during the first six months at $47,000 per day, the next 6 months are payable at $28,000 per day, and years two and three are payable at $37,500 per day.(17)This vessel commenced a time charter in April 2023 for three years at a rate of $40,000 per day. The charterer has the option to extend the term of this agreement for an additional year at $42,500 per day.(18)This vessel commenced a time charter in July 2022 for five years at a rate of $28,000 per day.(19)This vessel commenced a time charter in July 2022 for three years at an average rate of $28,000 per day. In April 2025, the charterers exercised their option to extend the term of this agreement for an additional year at $31,000 per day commencing in July 2025. The charterers have the option to further extend the term of this agreement for an additional year at $33,000 per day.(20)This vessel commenced a time charter in November 2022 for three years at an average rate of $32,750 per day.(21)This vessel commenced a time charter in May 2022 for three years at an average rate of $28,000 per day. In February 2025, the charterers exercised their option to extend the term of this agreement for an additional year at $31,000 per day commencing in May 2025. The charterers have an additional option to further extend the term of this agreement for an additional year at $33,000 per day.(22)This vessel commenced a time charter in December 2022 for three years at an average rate of $35,000 per day. Dividend Policy The declaration and payment of dividends is subject at all times to the discretion of the Company's Board of Directors. The timing and the amount of dividends, if any, depends on the Company's earnings, financial condition, cash requirements and availability, fleet renewal and expansion, restrictions in loan agreements, the provisions of Marshall Islands law affecting the payment of dividends and other factors. The Company's dividends paid during 2024 and 2025 were as follows: Date paidDividend per commonshareMarch 2024$0.40June 2024$0.40September 2024$0.40December 2024$0.40March 2025$0.40June 2025$0.40August 2025$0.40 On October 29, 2025, the Company's Board of Directors declared a quarterly cash dividend of $0.42 per common share, with a payment date of December 5, 2025 to all shareholders of record as of November 14, 2025 (the record date). As of October 29, 2025, there were 51,762,790 common shares of the Company issued and outstanding. About Scorpio Tankers Inc. Scorpio Tankers Inc. is a provider of marine transportation of petroleum products worldwide. Scorpio Tankers Inc. currently owns or lease finances 99 product tankers (38 LR2 tankers, 47 MR tankers and 14 Handymax tankers) with an average age of 9.6 years. The Company has entered into agreements to sell one MR and two LR2 product tankers, which are expected to close in the fourth quarter of 2025. Additional information about the Company is available at the Company's website www.scorpiotankers.com. Information on the Company’s website does not constitute a part of and is not incorporated by reference into this press release. Non-IFRS Measures Reconciliation of IFRS Financial Information to Non-IFRS Financial Information This press release describes time charter equivalent revenue, or TCE revenue, adjusted net income or loss, and adjusted EBITDA, which are not measures prepared in accordance with IFRS ("Non-IFRS" measures). The Non-IFRS measures are presented in this press release as we believe that they provide investors and other users of our financial statements, such as our lenders, with a means of evaluating and understanding how the Company's management evaluates the Company's operating performance. These Non-IFRS measures should not be considered in isolation from, as substitutes for, or superior to financial measures prepared in accordance with IFRS. The Company believes that the presentation of TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA are useful to investors or other users of our financial statements, such as our lenders, because they facilitate the comparability and the evaluation of companies in the Company’s industry. In addition, the Company believes that TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA are useful in evaluating its operating performance compared to that of other companies in the Company’s industry. The Company’s definitions of TCE revenue, adjusted net income or loss with adjusted earnings or loss per share, basic and diluted, and adjusted EBITDA may not be the same as reported by other companies in the shipping industry or other industries. TCE revenue, on a historical basis, is reconciled above in the section entitled "Explanation of Variances on the Third Quarter of 2025 Financial Results Compared to the Third Quarter of 2024". The Company has not provided a reconciliation of forward-looking TCE revenue because the most directly comparable IFRS measure on a forward-looking basis is not available to the Company without unreasonable effort. Reconciliation of Net Income to Adjusted Net Income For the three months ended September 30, 2025 Per share Per shareIn thousands of U.S. dollars except per share data Amount basic dilutedNet income $84,452 $1.81 $1.73 Adjustments: Write-offs of deferred financing fees and debt extinguishment costs 911 0.02 0.02 Fair value gain on financial assets measured at fair value through profit or loss (12,680) (0.27) (0.26)Adjusted net income $72,683 $1.56 $1.49 For the three months ended September 30, 2024 Per share Per shareIn thousands of U.S. dollars except per share data Amount basic dilutedNet income $158,705 $3.31 $3.16 Adjustments: Gain on sales of vessels (69,306) (1.45) (1.38)Gain on sale of vessel within joint venture (2,821) (0.06) (0.06)Fair value gain on financial assets measured at fair value through profit or loss 1,091 0.02 0.02 Adjusted net income $87,669 $1.83(1) $1.75(1) (1) Summation difference due to rounding For the nine months ended September 30, 2025 Per share Per shareIn thousands of U.S. dollars except per share data Amount basic dilutedNet income $216,174 $4.66 $4.46 Adjustments: Write-offs of deferred financing fees and debt extinguishment costs 3,014 0.07 0.06 Fair value gain on financial assets measured at fair value through profit or loss (29,659) (0.64) (0.61)Adjusted net income $189,529 $4.09 $3.91 For the nine months ended September 30, 2024 Per share Per shareIn thousands of U.S. dollars except per share data Amount basic dilutedNet income $600,217 $12.18 $11.62 Adjustments: Write-off of deferred financing fees and unamortized discounts on credit facilities 8,072 $0.16 $0.16 Gain on sales of vessels (123,961) (2.52) (2.40)Gain on sale of vessel within joint venture (2,821) (0.06) (0.05)Fair value gain on financial assets measured at fair value through profit or loss 1,091 0.02 0.02 Adjusted net income $482,598 $9.79(1) $9.34(1) (1) Summation difference due to rounding Reconciliation of Net Income to Adjusted EBITDA For the three months ended September 30, For the nine months ended September 30,In thousands of U.S. dollars 2025 2024 2025 2024 Net Income $84,452 $158,705 $216,174 $600,217 Financial expenses 19,958 20,883 60,884 91,204 Financial income (5,661) (2,859) (14,875) (12,977)Depreciation 46,350 45,512 136,357 140,099 Equity settled share based compensation expense 17,840 16,923 53,232 46,062 Gain on sales of vessels — (69,306) — (123,961)Gain on sale of vessel within joint venture — (2,821) — (2,821)Dividend income and fair value gain on financial assets measured at fair value through profit or loss, net (14,799) (957) (35,421) (957)Adjusted EBITDA $148,140 $166,080 $416,351 $736,866 Forward-Looking Statements Matters discussed in this press release may constitute forward‐looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward‐looking statements in order to encourage companies to provide prospective information about their business. Forward‐looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "expect," "anticipate," "estimate," "intend," "plan," "target," "project," "likely," "may," "will," "would," "could" and similar expressions identify forward‐looking statements. The forward‐looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. The Company undertakes no obligation, and specifically declines any obligation, except as required by law, to publicly update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise. In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward‐looking statements include unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, expansion and growth of the Company’s operations, risks relating to the integration of assets or operations of entities that it has or may in the future acquire and the possibility that the anticipated synergies and other benefits of such acquisitions may not be realized within expected timeframes or at all, the failure of counterparties to fully perform their contracts with the Company, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for tanker vessel capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, including without limitation the potential expenses incurred under the recently implemented port fee regimes in the United States and China that may be applicable to certain of our vessels, the impact of the current and future sanctions that may impact the transportation of petroleum products, potential liability from pending or future litigation, general domestic and international political conditions, including the impact of the conflict in Ukraine and the developments in the Middle East, including the continued uncertainty related to the conflict between Israel and Hamas and hostilities between Israel and Iran, which have and may continue to disrupt certain global shipping routes, vessel breakdowns and instances of off‐hires, and other factors. Please see the Company's filings with the SEC for a more complete discussion of certain of these and other risks and uncertainties. Contact Information Scorpio Tankers Inc.James Doyle - Head of Corporate Development & Investor RelationsTel: +1 203-900-0559Email: investor.relations@scorpiotankers.com

Scorpio Tankers Inc. Announces Financial Results for the Third Quarter of 2025 and an Increase to Its Quarterly Dividend

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