Scorpio Tankers Inc. Company Presentation June 2018

1 1 Company Overview

Key Facts Fleet Profile

Scorpio Tankers Inc. is the world’s largest and Owned TC/BB Chartered-In youngest product company 60 • Pure product tanker play offering all asset classes • 109 owned ECO product tankers on the 50 water with an average age of 2.8 years 8 • 17 time/bareboat charters-in vessels 40 • NYSE-compliant governance and transparency, 2 listed under the ticker “STNG” • Headquartered in Monaco, incorporated in the 30 Marshall Islands and is not subject to US income tax 45 20 38 • Vessels employed in well-established Scorpio 7 pools with a track record of outperforming the market 10 14 • Merged with Navig8 Product Tankers, acquiring 27 12 ECO-spec product tankers 0 MR LR1 LR2

2 2 Company Profile

Shareholders

# Holder Ownership 1 Dimensional Fund Advisors 6.6% 2 Wellington Management Company 5.9% 3 Scorpio Services Holding Limited 4.5% 4 Magallanes Value Investor 4.1% 5 Bestinver Gestión 4.0% 6 BlackRock Fund Advisors 3.3% 7 Fidelity Management & Research Company 3.0% 8 Hosking Partners 3.0% 9 BNY Mellon Asset Management 3.0% 10 Monarch Alternative Capital 2.8%

Market Cap ($m) Liquidity Per Day ($m pd)

$1,500 $12

$10

$1,000 $8

$6

$500 $4

$2

$0 $0 Euronav Frontline Scorpio DHT Gener8 NAT Ardmore Scorpio Frontline Euronav NAT DHT Gener8 Ardmore Tankers Tankers

Source: Fearnleys June 8th, 2018 3 3 Product Tankers in the Oil Supply Chain

• Crude Tankers provide the marine transportation of the crude oil to the refineries. • Product Tankers provide the marine transportation of the refined products to areas of demand. • Structural demand drivers in the product tanker industry: • US has emerged as a refined products powerhouse, becoming the worlds largest product exporter • Changes in refinery locations, expansion of refining capacity in Asia and Middle East as well as a reduction in OECD refining capacity (Europe & Australia). • Changes in consumption demand growth in Latin America, Africa, and non-China/Japan Asia and lack of corresponding growth in refining capacity • Balance of trade: needs of each particular region- gasoline/diesel trade between U.S./Europe is a prime example of this given significantly different diesel penetration rates for light vehicles • Europe imports surplus diesel from the United States, and exports surplus gasoline to the United States.

Exploration & Crude Transportation Refining Products Terminalling & Production Transportation Distribution

Refined products are moved from Terminals are located closer to Oil production includes drilling, Crude oil is transported to the Refineries convert the crude oil the refinery to the end users via transportation hubs and are the extraction, and recovery of oil refinery for processing by crude into a wide range of consumable product tankers, railcars, final staging point for the refined from underground. tankers, rail cars, and pipelines. products. pipelines and trucks. fuel before the point of sale.

4 4 Product and Crude Tankers

Tankers “Dirty” “Clean”

Crude Products

Vessel VLCC LR2 LR1 Hmx/MR Handysize Size (200,000 + (120,000 - (80,000 - (60,000 - (< 60,000 (80,000- (60,000- (25,000- (<25,000 DWT) 200,000 DWT) 120,000 DWT) 80,000 DWT) DWT) 120,000 DWT) 80,000 DWT) 60,000 DWT) DWT)

Cargo 2,000,000 1,000,000 500,000- 350,000- <=350,000 615,000- 345,000- 200,000- <=200,000 Size bbls bbls 800,000 bbls 500,000 bbls bbls 800,000 bbls 615,000 bbls 345,000 bbls bbls

Chemicals

Naphtha Clean Clean Condensate Products Jet Fuels - Kerosene - Gasoline - Vegoil - Gasoils - Diesels Dirty Cycle Oils Fuel Oils Products

Crude Oil

5 5 Cargo Carriage 2017

MR Cargo Carriage 2017 LR2 Cargo Carriage 2017

Condensate, Edible Oil, 1.7% 1.4% Other, 0.5% Other, 2.1% Kerosene/Jet, 5.8%

Kerosene/Jet, 8.9% Gasoline, 11.3%

Naphtha, 9.2%

Gasoline, 41.2% Diesel/Gas Oil, 52.1%

Naphtha, Diesel/Gas Oil, 28.8% 25.3%

6 6 Company Highlights

• 109 owned ECO product tankers on the water with an average age of Youngest & largest product 2.8 years tanker fleet in the world ✓

Vessels employed in Scorpio • The worlds largest product tanker operating platform with track record of pools ✓ consistently outperforming the market

Significant operating • A $1,000/day change in rates equates to $39.7 million in annualized leverage ✓ cash flow

• Reduction in global inventories means further consumption will have to be met by imports rather than being subsidized by inventory drawdowns Short term drivers support • Asset values and time charter rates have increased y-o-y reflecting market inflection point ✓ improving market fundamentals

• Remaining orderbook provides favorable supply / demand Positive long term market • Refinery capacity expansions continue to move closer to the well head, fundamentals ✓ increasing ton mile demand

7 7 Scorpio has the Largest & Youngest Product Tanker Fleet

Largest & Youngest Product Tanker Fleet Scorpio Average Age vs. Worldwide Fleet

14 HM & MR LR1 LR2 Total Avg. Age of Vessels 13.0 Scorpio Tankers 120 (Owned Fleet Only) Active Fleet

12

100

10 9.6 38 9.5

80 8.1 8 11 12 7 60 6 11 11 5 4 13 40 10 4 3.7 3.4 59 59 41 2.6 2.1 20 34 33 36 2 11.1 9.8 10.1 8.0 2.8 3.8 0 0 Scorpio TORM SCF Group COSCO Sinokor A.P. Moller Handymax MR LR1 LR2 Tankers

Figures do not include newbuilding vessels on order. Source: Clarksons Research Services, June 2018 8 8 Scorpio Pools Provide World’s Largest Operating Platform

• Scorpio’s trading platform operates the largest product tanker fleet in the market with over 165 vessels under commercial management

Top Product Tanker Operators Top HM/MR Operators Top LR Operators

180 120 70 165 106 160 102 59 60 100 53 140 81 50 120 120 115 80

67 40 100 60 81 80 30 26 22 60 40 20

40 20 10 20

0 0 0 Scorpio Hafnia/Straits Maersk Norient Scorpio Maersk Norient Hafnia/Straits Scorpio Hafnia/Straits Prime Navig8 Tankers Tankers

Figures do not include newbuilding vessels on order. Source: Company Websites & Vessel Values, May 2018 9 9 Scorpio Pools Have Consistently Outperformed Market

Pool Performance ($/day)

$30,000 Scorpio Handymax Pool Handymax Benchmark (TD16 - TD18 - TC6 - BALTIC/CONT)

$20,000 Scorpio Handymax Tanker Pool (SHTP) $10,000

$0 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3-17 Q4-17 Q1-18

$30,000 Scorpio MR Clarksons MR

Scorpio MR $20,000 Tanker Pool (SMRP) $10,000

$0 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4-17 Q1-18

$50,000 Scorpio LR2 LR2 Benchmark (AG/EAST - AG/WEST - UKC/EAST) $40,000

Scorpio LR2 $30,000 Tanker Pool $20,000 (SLR2P) $10,000

$0 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4-17 Q1-18

10 10 What if STNG Earned the 2015 Daily Rates in 2017?

LR2 LR1 MR Hmx Total Average Vessels: Owned 27.5 4.9 41.7 14.0 88.1 TC-in/BB-in 1.2 0.4 8.8 8.1 18.5 28.7 5.3 50.5 22.1 106.6

Days in the Year 365 365 365 365 365

Number of Days 10,476 1,935 18,433 8,067 38,909

2015 Daily TCE $30,544 $21,804 $21,803 $19,686 2017 Daily TCE $14,849 $11,409 $12,975 $11,706 Difference in Daily TCE $15,695 $10,395 $8,828 $7,980

Incremental Rev/Income $164,412,973 $20,109,128 $162,722,110 $64,370,670 $411,614,880

2017 Weighted Avg Shares 215,333,402

Incremental EPS and Cash Flow per Share $1.91

Applying the average fleet in 2017 to the Company TCE earnings in 2015 generates an EPS of $1.91

11 11 Significant Operating Leverage to a Market Recovery

• Only taking into consideration the Company’s 109 owned vessels, a $1,000/day change in rates equates to $39.7 million in annualized cash flow • Applying the actual TCE rates earned by the Company in 2015 to its larger fleet today, the Company would generate $978 million

2015A Rates Annualized Revenue Class # of Vessels Days/Yr Total Days ($/day) (Millions $USD) HM 14 365 5,110 $19,686 $101 MR 45 365 16,425 $21,803 $358 LR1 12 365 4,380 $21,804 $96 LR2 38 365 13,870 $30,544 $424 109 39,785 Total Revenue $978

Historical One Year TC Rates ($/day): 2003-2017 Implied Revenue from Historical TC Rates

$1,400 Class Min Avg Max $1,208 $1,200

HM $11,430 $16,204 $24,683 $1,000 $794 $800 MR $13,160 $17,784 $27,000 $600 $531

LR1 $12,995 $20,937 $31,904 $400

$200 LR2 $14,391 $23,615 $35,950 $0 Min Avg Max

The one year time charter rate “TC rate” is the rate paid per day to contract a vessel out for one year, and the time charter equivalent rate (“TCE”) which is the earnings per day for a vessel operating in the spot market. 12 Source: Clarksons Research Services 12 Asset Values & Time Charter Rates

Newbuilding Prices One Year TC Rate ($/day)

$60 $35,000

$55 $30,000

$50 $25,000

$45 $20,000

Million $USD Million $40 $15,000

$35 $10,000

$30 $5,000

$25 $0 May-14 Nov-14 May-15 Nov-15 May-16 Nov-16 May-17 Nov-17 May-18 May-14 Nov-14 May-15 Nov-15 May-16 Nov-16 May-17 Nov-17 May-18

HM MR LR1 LR2 HM MR LR1 LR2

Resale Prices Baltic Clean Tanker Index

$70 800

$65 750

$60 700

$55 650

$50 600

$45 550 Million $USD Million $40 500 $35 450 $30 400 $25 350 $20 May-14 Nov-14 May-15 Nov-15 May-16 Nov-16 May-17 Nov-17 May-18 300 Apr-14 Sep-14 Feb-15 Jul-15 Dec-15 May-16 Oct-16 Mar-17 Aug-17 Jan-18 Jun-18 HM MR LR1 LR2

Source: Clarksons Research Services, June 2018 13 13 Ballast Water Treatment Systems

• The IMO will require all vessels trading internationally to a install ballast water treatment system (BWTS) after September 8, 2019 at their next special survey. • Ballast water treatment systems actively remove/inactivate organisms taken in from one ecological zone prior to discharging it in another. • Expected cost is $0.5 million to $1.5 million depending on the type and size of vessel. • Retrofits on older, existing , can be more challenging and expensive as they were designed without the space in the engine room. • This is a potential “push” factor in the scrapping of older

BWTS Filtering Unit BWTS Piping in Engine Room

14 14 IMO 2020 Sulfur Emission Regulations & Compliance

What is IMO 2020?

• The International Maritime Organization (IMO) will require shipowners to reduce sulfur emissions from 3.5% currently to 0.5% in 2020. • To comply, shipowners will have to decide between: • Installing a scrubber to enable the vessel to burn HSFO; • Paying the premium to consume compliant fuels with a sulfur content <0.5% (MGO and LSFO) • LNG as bunker fuel • Scrubbers can cost $3-$5 million to install depending on the size of the

How will Scorpio comply with IMO 2020?

• At this time, Scorpio plans to comply with IMO 2020 regulation by burning compliant fuels with <0.5% sulfur

Why?

• The analysis of scrubbers favors liners and/or larger ship types, however, the analysis for smaller and/or tramp traders is less clear • Many of Scorpio’s vessels trade in ECA areas where the sulfur limit is <0.1% • Regulatory, technological, and supply/pricing risks are also relevant and largely argue against scrubbers • The demand and fuel-efficiency stories are more relevant to the product tanker segment than the yes/no scrubber decision • All of this being said, the Company continues to evaluate scrubbers and does not see a compelling argument to install them today

15 15 IMO 2020 & the Eco Advantage

The Eco Advantage

• STNG’s 100% Eco fleet to benefit from fuel savings compared to older less efficient vessels • Eco vessels comprise 28% of the current product tanker fleet, and STNG has 15% of the Eco fleet (1) STNG Fleet STNG Eco Non-Eco Eco % Total Eco Fleet as % of Eco Total Fleet Vessels Fleet Fleet Fleet LR2 38 138 28% 210 348 40% LR1 12 69 17% 295 364 19% MR 45 473 10% 1,035 1,508 31% HM 14 66 21% 386 452 15% Total 109 746 15% 1,926 2,672 28%

STNG Eco Fuel Savings • ECO fuel savings per day = (Non Eco fuel consumption MT/day – Eco fuel consumption MT/day) • If ECO fuel savings per day = 6 MT/day for HM/MR, and 8 MT/day for LR1/LR2 • LSFO costs $600 MT/day in Rotterdam today • HM/MR Eco Fuel Savings ($600/MT x 6 MT/day) = $3,600/day • LR1/LR2 Eco Fuel Savings ($600/MT x 8 MT/day) = $4,800/day • Total Eco Fleet Savings = ($3,600 x 59 vessels)+($4,800 x 50 vessels) = $452,400/day or $165,126,000 annually • If LSFO increases to $800/MT, STNG Eco fuel savings = $603,200/day or $220,168,000 annually

(1) Figures calculated based on number of ships Eco vessels defined as 2012 build and later 16 Clarksons Research Services, June 2018 16 IMO 2020 Implications for the Product Tanker Market

If the majority of owners do not install scrubbers by 2020 (~400 scrubbers installed today out of 90,000 vessels) then: Consumption of LSFO would be expected to increase • Global Marine fuel consumption today is 4.9 mb/d of which 3.2 mb/d is HSFO(1) • By 2020, if 20% of the global fleet uses scrubbers or LNG, the remaining 80% would need to comply through consuming compliant fuels with <0.5% sulfur (MGO/LSFO) • This would increase refined product consumption by 2.6 mb/d (80% of 3.2 mb/d)

Increased demand for product tankers • High sulfur fuel oil (“HSFO”) is a “dirty cargo” carried on crude tankers whereby compliant fuels (MGO/LSFO) are “clean cargoes” carried on product tankers • If 75% of the 2.5 mb/d of LSFO needs to be transported by sea, this would increase seaborne refined product exports by 1.9 mb/d (75% of 2.5 mb/d) • Current seaborne exports of refined products are 24.4 mb/d today, all else being equal, the additional 1.9 mb/d of LSFO would increase seaborne exports by 7.8%

Growing ton miles • Differences in refinery complexity, access to crude types, and respective yields creates increased complexity of refined product trade • Higher demand for LSFO increases the distance between LSFO production and consumption

(1) Goldman Sachs May 2018 HSFO= High sulfur fuel 17 Compliant fuels: LSFO = low sulfur fuel oil, MGO = marine gas oil 17 Product Tanker Fundamentals

18 18 Industry Highlights

In Q1-16 OECD refined products inventories were 320 mb above end of Refined product inventory 2013 inventories. By end-2017, the OECD’s product stocks surplus had surplus largely behind ✓ shrunk to just 20 mb.(1)

• Product tanker ton mile demand set to outpace fleet supply growth in Favorable supply demand 2018 dynamics ✓ • More MR’s will turn 15 years old than newbuildings are delivered in 2018

US refined product exports • US refined product exports averaged 4.9 mb/d in 2017(2) continue to grow ✓

Middle East drives refinery • From 2017 to 2023 the Middle East will add 2 mb/d of refining capacity expansions ✓ capacity(1)

• Environmental regulations coincided with high scrap prices likely to Environmental regulations ✓ accelerate scrapping of older tonnage provide supply and demand • Increase in diesel consumption from IMO sulfur regulations expected boost to increase demand for product tankers

1) IEA Oil Market Report 2) EIA 19 19 Ton Mile Demand Continues to Grow

• Ton miles, the quantity of cargo multiplied by the distance it travels, has increased at a CAGR of 4.3% since 2000

Seaborne Product Ton Miles

3,500

3,000

2,500

2,000 Billion Ton Miles Ton Billion

1,500

1,000

500

0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018*

Sources: Clarksons Research Services 20 20 Demand to Outpace Supply Growth in 2018

12.0% Net Fleet Growth Demand Growth

10.9%

10.0%

8.5% 8.0%

6.2% 6.0% 5.8% 4.7% 5.3% 5.2% 4.4%

4.0% 3.8%

2.8% 2.8% 2.4%

2.0%

0.0% 2014 2015 2016 2017E 2018E 2019E

STIFEL estimates assume scrapping and slippage. Source: STIFEL, June 2018 21 21 MR’s Turning 15 vs Newbuild Deliveries

• Certain key customers will only employ product tankers 15 years and younger • This limits trading opportunities for older tonnage and creates a two tiered market where: • Owners consider continuing to carry refined products, switching from products to crude, vessel conversion, storage, and scrapping • The switch from products to crude is relatively easy, but becomes difficult to switch from crude to products as the age of the vessel increases

MR's Turning 15 Years Old MR NB Deliveries

100 93 87 78 57 54

27

-19 -16 -29 -35 -56 -79 -87 2014 2015 2016 2017 2018 2019 2020

For the first time more MR’s will turn 15 years old than are delivered

Assumes 10% slippage. 22 Source: Clarksons Research Services, June 2018 22 Fleet Age Profile & Scrap Prices

Fleet Age Profile

100% 3% 6% Environmental regulations and 5% 11% attractive scrap prices likely to 9% increase scrapping of older tonnage 90% 9%

80% 17% 21%

41% 27% 70%

60%

39% 600 50% 39% 465 500 32% 40%

400 39% 30%

300

20% 18%

200 32% 26% 10% 100 14% 12%

0 0% Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 LR2 LR1 MR Handymax 0-4 5-9 10-14 15-19 20+

Includes Product Tankers 10K to 120K DWT Source: Clarksons Research Services, June 2018 23 23 US Refining & Product Exports

U.S. Crude Oil Production U.S. Imports and Exports of Finished Oil Products

(mb/d) (mb/d) 12.0 6.0 Exports Imports 10.0 5.0

8.0 4.0

6.0 3.0

4.0 2.0

2.0 1.0

0.0 0.0

Jul-10 Jul-11 Jul-12 Jul-13 Jul-14 Jul-15 Jul-16 Jul-17

Jul-12 Jul-17

Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18

Jan-10 Jan-15

Jun-10 Jun-15

Oct-13

Apr-11 Apr-16

Sep-11 Feb-12 Sep-16 Feb-17

Dec-12 Dec-17

Aug-14

Nov-10 Nov-15

Mar-14

May-13 May-18 U.S. Diesel Exports Destination of US Diesel Exports: Jan – Nov 2017

(mb/d) 1.8 Mexico 1.6 18% Other 1.4 31% 1.2 1.0 Brazil 0.8 15% 0.6 0.4 United Kingdom 0.2 3% Chile 7% 0.0 Argentina 3% Panama Peru 4% 5%

Jul-15 Netherlands

Jan-13 Jan-18

Jun-13 Jun-18

Oct-11 Oct-16

Apr-14

Sep-14 Feb-15

Dec-10 Dec-15

Aug-12 Aug-17

Nov-13

Mar-12 Mar-17 May-16 May-11 Guatemala France 6% 4% 4%

Source: EIA, June 2018 24 24 Latin American Refining Woes Send Imports Soaring

• US exports to Mexico, Brazil and Venezuela has more than doubled in two years.

• While Venezuela’s extremely low capacity utilization rate (40%) is the result of ongoing turmoil in its petroleum industry, declines in Mexico and Brazil are due to operational decision-making.

• Latin American throughput in the next five years is expected to stay below 2015 levels due to declines in crude oil supply and ongoing under-investment in their refineries

• Refined products imports expected to continue fueling domestic consumption

Changes from 2014-2017 US Exports to Latin America

Source: IEA Oil Market Report 25 25 Middle East to Drive Refinery Capacity Expansions

• From 2017 to 2023, the largest regional refinery capacity expansions will come from the Middle East. • Saudi Aramco will complete it’s domestic mega refinery series by bringing online the Jazan complex (400 kb/d) in 2019. • If Saudi Arabia manages fulfill its ambition to double its refining capacity and increase crude throughput, it will effectively become the world’s largest refiner, leapfrogging ExxonMobil and Sinopec • In addition, Kuwait’s largest downstream expansion involves a 200 kb/d increase at Mina Abdullah, and the new 615 kb/d Al-Zour, plant and upgrades to increase the production of clean fuels

Net CDU Capacity Additions

Source: IEA 26 26 Saudi Aramco Increasing Product Exports

Saudi Aramco Domestic Refining Capacity

• Saudi Aramco refined product exports Operational Refinery Capacity (kb/d) have increased 144% since 2013 1967 Jiddah 77 1979 Yanbu 243 • 800 kb/d of refining capacity added in 1981 Riyadh 126 2014 from export oriented refineries 1983 SAMREF – Yanbu 400 (Yanbu and Jubail) 1986 SASREF - Jubail 305 1986 Ras Tanura 550 • Additional 400 kb/d refining capacity 1990 Petro Rabigh 400 2014 YASREF - Yanbu 400 expected to come online in 2018/2019 2014 SATORP - Jubail 400 from Jazan refinery Current Domestic Capacity 2,901 2018/2019 Jazan 400 Total Domestic Capacity 3,301

Saudi Aramco Refined Products Exports Saudi Aramco Exports by Region

Million Barrels Million Barrels 2014 2015 2016 350 140

300 120

100 250 80 136.5 200 296 60 114.4 96.2 232 40 78.3 80.0 74.8 150 168 20 35.2 28.1 21.8 121 3.5 15.8 11.4 100 0 2013 2014 2015 2016 Mediterranean Northwest Europe Asia Other

Source: Saudi Aramco Annual Report 27 27 Incremental Supply Needed to Meet New Capacity

Product Tankers Needed to Meet New Capacity Growth AG-FE Illustrative Example Incremental Refining Capacity 500,000 Growth(bbl/d) HM/MR Carrying Capacity (bbl) 250,000 LR1/LR2 Carrying Capacity (bbl) 600,000 Far East Laden Speed (knots) 12.5 Ballast Speed (knots) 12.5 Arabian Gulf Voyage Days (Ras Tanura – Yokohama) Sailing (Round Trip) 44 Loading 2 Discharging 2 Total Voyage Days (Per Trip) 48 Operating Days (Per Year) 360 AG-FE Round Trip Voyages Per Year 7.5 Product Tankers Needed Per Year HM/MR Needed Per Year 96 LR1/LR2 Needed Per Year 40

AG-Far East trade route

Note: Operating assumptions are based upon industry standards. 28 28 Appendix

29 29 Product Tanker Specifications

IMO Classes I, II, & III IMO Class I Chemical IMO Class I refers to the transportation of the most hazardous, Tankers very acidic, chemicals. The tanks can be stainless steel, epoxy or marine-line coated.

IMO Class II Chemical & Product Tankers IMO Class II carries Veg & Palm Oils, Caustic Soda. These tanks tend to be coated with Epoxy or Stainless steel.

IMO Class III Product Tankers Typically carry refined either light, refined oil “clean” products or “dirty” heavy crude or refined oils.

• Product tankers have coated tanks, typically epoxy, making them easy to clean and preventing cargo contamination and corrosion. • IMO II & III tankers have at least 6 segregations and 12 tanks, i.e. 2 tanks can have a common line for discharge. • Oil majors and traders have strict requirements for the transportation of chemicals, FOSFA cargoes (vegetable oils and chemicals), and refined products. • Tanks must be completely cleaned before a new product is loaded to prevent contamination.

30 30 New Design Features on Scorpio Product Tankers

31 31 Fleet List

Owned & Finance Leased Vessels Name Year DWT Type Name Year DWT Type Name Year DWT Type STI Comandante May-14 38,734 HM STI Soho Dec-14 49,990 MR STI Broadway Nov-14 109,999 LR2 STI Brixton Jun-14 38,734 HM STI Tribeca Jan-15 49,990 MR STI Condotti Nov-14 109,999 LR2 STI Pimlico Jul-14 38,734 HM STI Gramercy Jan-15 49,990 MR STI Rose Jan-15 109,999 LR2 STI Hackney Aug-14 38,734 HM STI Bronx Feb-15 49,990 MR STI Veneto Jan-15 109,999 LR2 STI Acton Sep-14 38,734 HM STI Pontiac Mar-15 49,990 MR STI Alexis Jan-15 109,999 LR2 STI Fulham Sep-14 38,734 HM STI Manhattan Mar-15 49,990 MR STI Winnie Mar-15 109,999 LR2 STI Camden Sep-14 38,734 HM STI Queens Apr-15 49,990 MR STI Oxford Apr-15 109,999 LR2 STI Battersea Oct-14 38,734 HM STI Osceola Apr-15 49,990 MR STI Lauren Apr-15 109,999 LR2 STI Wembley Oct-14 38,734 HM STI Notting Hill May-15 49,687 MR STI Connaught May-15 109,999 LR2 STI Finchley Nov-14 38,734 HM STI Seneca Jun-15 49,990 MR STI Spiga Jun-15 109,999 LR2 STI Clapham Nov-14 38,734 HM STI Westminster Jun-15 49,687 MR STI Savile Row Jun-15 109,999 LR2 STI Poplar Dec-14 38,734 HM STI Brooklyn Jul-15 49,990 MR STI Kingsway Aug-15 109,999 LR2 STI Hammersmith Jan-15 38,734 HM STI Black Hawk Sep-15 49,990 MR STI Lombard Aug-15 109,999 LR2 STI Rotherhithe Jan-15 38,734 HM STI Galata Mar-17 49,990 MR STI Carnaby Sep-15 109,999 LR2 STI Amber Jul-12 49,990 MR STI Bosphorus Apr-17 49,990 MR STI Grace Mar-16 109,999 LR2 STI Topaz Aug-12 49,990 MR STI Leblon Jul-17 49,990 MR STI Jermyn Jun-16 109,999 LR2 STI Ruby Sep-12 49,990 MR STI La Boca Jul-17 49,990 MR STI Selatar Feb-17 109,999 LR2 STI Garnet Sep-12 49,990 MR STI San Telmo Sep-17 49,990 MR STI Rambla Mar-17 109,999 LR2 STI Onyx Sep-12 49,990 MR STI Donald C. Trauscht Oct-17 50,000 MR STI Solidarity Nov-15 109,999 LR2 STI Fontvieille Jul-13 49,990 MR STI Esles II Jan-18 50,000 MR STI Stability Jan-16 109,999 LR2 STI Ville Sep-13 49,990 MR STI Jardins Jan-18 50,000 MR STI Solace Jan-16 109,999 LR2 STI Opera Jan-14 49,990 MR STI Excel Nov-15 74,000 LR1 STI Symphony Feb-16 109,999 LR2 STI Duchessa Jan-14 49,990 MR STI Excelsior Jan-16 74,000 LR1 STI Sanctity Mar-16 109,999 LR2 STI Texas City Mar-14 49,990 MR STI Expedite Jan-16 74,000 LR1 STI Steadfast May-16 109,999 LR2 STI Meraux Apr-14 49,990 MR STI Exceed Feb-16 74,000 LR1 STI Nautilus May-16 113,000 LR2 STI San Antonio May-14 49,990 MR STI Experience Mar-16 74,000 LR1 STI Gallantry Jun-16 113,000 LR2 STI Venere Jun-14 49,990 MR STI Express May-16 74,000 LR1 STI Supreme Aug-16 109,999 LR2 STI Virtus Jun-14 49,990 MR STI Executive May-16 74,000 LR1 STI Guard Aug-16 113,000 LR2 STI Aqua Jul-14 49,990 MR STI Excellence May-16 74,000 LR1 STI Guide Oct-16 113,000 LR2 STI Dama Jul-14 49,990 MR STI Pride Jul-16 74,000 LR1 STI Goal Nov-16 113,000 LR2 STI Benicia Sep-14 49,990 MR STI Providence Aug-16 74,000 LR1 STI Guantlet Jan-17 113,000 LR2 STI Regina Sep-14 49,990 MR STI Precision Oct-16 74,000 LR1 STI Gladiator Jan-17 113,000 LR2 STI St Charles Sep-14 49,990 MR STI Prestige Nov-16 74,000 LR1 STI Gratitude May-17 113,000 LR2 STI Mayfair Oct-14 49,990 MR STI Elysees Jul-14 109,999 LR2 STI Yorkville Oct-14 49,990 MR STI Madison Aug-14 109,999 LR2 STI Memphis Nov-14 49,995 MR STI Park Sep-14 109,999 LR2 STI Milwaukee Nov-14 49,990 MR STI Orchard Sep-14 109,999 LR2 STI Battery Dec-14 49,990 MR STI Sloane Oct-14 109,999 LR2

32 32