Completed Transaction Announcement

October 31, 2014 – Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio” or the “Company”) announced the completion of a $45.0 million underwritten public offering of 1,800,000 7.50% Senior Unsecured Notes due on October 15, 2017 (the “Notes”) at a public offering price of $25.00 per Note. Scorpio has granted the underwriters of the offering a 30-day option to purchase up to an additional 270,000 of the Notes on the same terms and conditions. The Company intends to use the net proceeds from the offering for general corporate purposes and working capital, which may include the acquisition of additional new or secondhand vessels.

Janney Montgomery Scott LLC served as joint book-running manager on the transaction.

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Scorpio Tankers Inc. is engaged in seaborne transportation of refined petroleum products and crude oil in the international shipping markets. As of October 27, 2014, it operated a fleet consisting of 48 wholly-owned tankers consisting of four LR2 tankers, two LR1 tankers, 10 Handymax tankers, 31 MR tankers, and one post-Panamax tanker with a weighted average age of approximately 1.5 years, and 24 time chartered-in tankers consisting of eight LR2, five LR1, four MR and seven Handymax tankers. In addition, as of the same date, Scorpio has contracts for the construction of 27 newbuilding product tankers.


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