Scorpio Tankers Inc. Prices Reopening of 1.75% Convertible Senior Notes due 2031 and Concurrent Stock Repurchase

Scorpio Tankers Inc. announced the pricing of a private offering of $200.0 million aggregate principal amount of additional 1.75% convertible senior notes due 2031. The offering size was increased from the previously announced $150.0 million. The new notes were priced at 110.25% of par, plus accrued interest of approximately $1.56 per $1,000 principal amount from April 10, 2026, to May 12, 2026, and any additional accrued interest if the settlement occurs after that date. The gross proceeds from the offering are expected to reach $220.5 million before any option to purchase additional notes is exercised.

Concurrently with the closing of the offering, the Company has agreed to repurchase 649,427 shares of its common stock from purchasers of the new notes at a price of $84.69 per share, based on the last reported sale price on May 7, 2026. The closing of the offering is anticipated on May 12, 2026, subject to customary closing conditions. The notes will mature on April 15, 2031, unless converted or repurchased earlier and will bear interest at a rate of 1.75% per annum, payable semi-annually.

Holders will be able to convert the notes prior to January 15, 2031, under specific conditions, with conversion available at any time thereafter. The initial conversion rate is set at 9.9615 shares of common stock per $1,000 principal amount of notes, correlating to a conversion price of approximately $100.39 per share. The notes will be redeemable by the Company under certain conditions starting from April 20, 2029.

The estimated net proceeds from the offering are projected to be around $216.3 million, which will be utilized for repurchasing shares and for general corporate purposes. The offering of new notes will be available only to qualified institutional buyers and will not be registered under the Securities Act of 1933. Scorpio Tankers Inc. provides marine transportation of petroleum products and currently owns 87 product tankers.