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Monaco - July 30, 2024 Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers" or the "Company") today reported its results for the three and six months ended June 30, 2024. The Company also announced that its board of directors (the "Board of Directors") has declared a quarterly cash dividend on its common shares of $0.40 per share. Results for the three months ended June 30, 2024 and 2023 For the three months ended June 30, 2024, the Company had net income of $227.3 million, or $4.54 basic and $4.34 diluted earnings per share. For the three months ended June 30, 2024, the Company had adjusted net income (see Non-IFRS Measures section below) of $188.4 million, or $3.77 basic and $3.60 diluted earnings per share, which excludes from net income a $43.3 million, or $0.87 per basic and $0.83 per diluted share, gain on sales of vessels and a $4.4 million, or $0.09 per basic and $0.08 per 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. For the three months ended June 30, 2023, the Company had net income of $132.4 million, or $2.50 basic and $2.40 diluted earnings per share. For the three months ended June 30, 2023, the Company had adjusted net income (see Non-IFRS Measures section below) of $133.3 million, or $2.51 basic and $2.41 diluted earnings per share, which excludes from net income a $0.9 million, or $0.02 per basic and diluted share, write-off or acceleration of the amortization of deferred financing fees on certain lease financing obligations and related debt extinguishment costs. Results for the six months ended June 30, 2024 and 2023 For the six months ended June 30, 2024, the Company had net income of $441.5 million, or $8.84 basic and $8.45 diluted earnings per share. For the six months ended June 30, 2024, the Company had adjusted net income (see Non-IFRS Measures section below) of $394.9 million, or $7.90 basic and $7.56 diluted earnings per share, which excludes from net income a $54.7 million, or $1.09 per basic and $1.05 per diluted share, gain on sales of vessels and a $8.1 million, or $0.16 per basic and $0.15 per 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. For the six months ended June 30, 2023, the Company had net income of $325.6 million, or $5.93 basic and $5.69 diluted earnings per share. For the six months ended June 30, 2023, the Company had adjusted net income (see Non-IFRS Measures section below) of $328.9 million, or $5.99 basic and $5.75 diluted earnings per share, which excludes from net income a $3.3 million, or $0.06 per basic and diluted share, write-off or acceleration of the amortization of deferred financing fees on certain lease financing obligations and related debt extinguishment costs. Declaration of Dividend On July 29, 2024, the Company's Board of Directors declared a quarterly cash dividend of $0.40 per common share, with a payment date of September 13, 2024 to all shareholders of record as of August 15, 2024 (the record date). As of July 29, 2024, there were 53,175,099 common shares of the Company outstanding. Emanuele Lauro, Chairman and Chief Executive Officer commented, "The Company’s balance sheet and cash flow generation potential continue to improve. In the second quarter, we repaid $399 million of debt and reduced our daily cash break evens to $12,500. Additionally, we've agreed to convert our 2023 $225.0 million Credit Facility to a revolving credit facility and committed to prepaying our $64 million credit facility with BNP Paribas and Sinosure. These initiatives could potentially reduce our daily cash break-even rates by over $1,000." Full report 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 106 product tankers (39 LR2 tankers, 53 MR tankers and 14 Handymax tankers) with an average age of 8.4 years. The Company has entered into agreements to sell four of its MR tankers, which are expected to close in the third quarter of 2024. 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. Scorpio Tankers Inc. press release 
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