International Seaways, Inc. — fact timeline

International Seaways, Inc. terminated Prior Distribution Agreement with Evercore Group L.L.C. and Jefferies LLC valued at up to $100,000,000 (effective 2026-05-11).

“In connection with entering into the Distribution Agreement, effective May 11, 2026, the Company terminated the equity distribution agreement dated December 20, 2023, with Evercore Group L.L.C. and Jefferies LLC (the “ Prior Distribution Agreement ”), relating to the “at the market” offerings of the shares of Common Stock having an aggregate gross sales price of up to $100,000,000.”

International Seaways, Inc. entered into Distribution Agreement with BTIG, LLC, B. Riley Securities, Inc., Clarksons Securities, Inc. and Fearnleys Securities, Inc. valued at up to $200,000,000 (effective 2026-05-11).

“On May 11, 2026, International Seaways, Inc. (the “ Company ”) entered into an Equity Distribution Agreement (the “ Distribution Agreement ”) with BTIG, LLC, B. Riley Securities, Inc., Clarksons Securities, Inc. and Fearnleys Securities, Inc. as sales agents (the “ Sales Agents ”), to issue and sell through or to the Sales Agents, from time to time, shares of its Common Stock, no par value (the “ Common Stock ”), in “at the market” offerings having an aggregate gross sales price of up to $200,000,000.”

International Seaways, Inc. reported first quarter 2026 results: revenue $325 million, net income $286 million, EPS $5.75 per diluted share.

“spot earnings that increased an average of approximately $30,000 per day across the fleet and an increase in gains on vessel sales. Shipping revenues for the first quarter were $325 million, compared to $183 million for the first quarter of 2025. Consolidated TCE revenues (1) for the first quarter were $317 million, compared to $178 million for the first quarter of”

International Seaways, Inc. issued option.

“On April 9, 2026, International Seaways, Inc. (the “Company”) amended and restated the Amended and Restated Rights Agreement, dated as of April 11, 2023, by and between the Company and Computershare Trust Company, N.A., as rights agent, to extend the “Final Expiration Date” to April 8, 2029 and increase the “Purchase Price” from $50 to $95.”

International Seaways, Inc. amended Second A&R Rights Agreement with Computershare Trust Company, N.A. (effective 2026-04-09).

“On April 9, 2026, International Seaways, Inc. (the “Company”) amended and restated the Amended and Restated Rights Agreement, dated as of April 11, 2023, by and between the Company and Computershare Trust Company, N.A., as rights agent, to extend the “Final Expiration Date” to April 8, 2029 and increase the “Purchase Price” from $50 to $95.”

International Seaways, Inc. entered into Joinder Agreement with Nordea Bank Abp, New York Branch (effective 2026-03-27).

“On March 27, 2026, an indirect wholly-owned subsidiary of International Seaways, Inc. (the “ Company ”) entered into a joinder agreement (the “ Agreement ”) to that certain Credit Agreement dated as of May 22, 2022”

International Seaways, Inc. incurred senior notes of $250 million aggregate principal amount at 7.125% per year maturing 2030.

“On September 23, 2025, International Seaways, Inc. (the “ Company ”) issued $250 million aggregate principal amount of 7.125% senior unsecured bonds due 2030 (the “ 2030 Bonds ”), at an issue price of 100%.”

International Seaways, Inc. incurred credit facility of up to $239.7 million term loan facility and up to $91.9 million revolving credit facility with DNB Bank ASA, New York Branch, as facility agent; K-SURE agent, security agent and hedge counterparty; DNB Capital LLC, as lender; and DNB Markets, Inc., as arranger at Term SOFR plus margin of 1.10% per annum for K-SURE covered tranche and 1.45% pe maturing 12-year term loan facility with 20-year amortization profile; each K-SURE covered tranche repaid in 24 equal consecutive semi-annual instalments.

“agent and hedge counterparty; DNB Capital LLC, as lender; and DNB Markets, Inc., as arranger. The ECA Credit Facility consists of (1) a 12-year term loan facility of up to $239.7 million (the “ Term Loan Facility ”) and (2) a revolving credit facility of up to $91.9 million (the “ Revolving Facility ” and, together with the Term Loan Facility, the “ Facilities”

Ian Blackley was appointed as Chairman of the Board at International Seaways, Inc..

“On November 22, 2024, effective upon Mr. Wheat’s resignation, the Board appointed Captain Ian Blackley, a member of the Board since 2016 when the Company was spun off from its predecessor, to serve as Chairman.”

Douglas Wheat resigned as Chairman of the Board at International Seaways, Inc..

“On November 22, 2024, Mr. Douglas Wheat resigned from the Board of Directors (the “ Board ”) of International Seaways, Inc. (the “ Company ”), and from his role as Chairman of the Board, both with immediate effect.”

International Seaways, Inc. reported first quarter 2024 results: revenue $274.4 million, net income $144.5 million, EPS $2.92 per diluted share.

“the first quarter of 2023, partially offset by lower interest expense from the reduction of debt by nearly $300 million during 2023. Shipping revenues for the first quarter were $274.4 million, compared to $287.1 million for the first quarter of 2023. Consolidated TCE revenues (1) for the first quarter were $270.9 million, compared to $283.3 million for the first”

International Seaways, Inc. amended revolving credit of $500 million with Nordea Bank Abp, New York Branch at term SOFR+185bps maturing January 31, 2030.

“amendment, the $750 Million Facility, had a remaining term loan balance of $94.6 million and undrawn revolver capacity of $257.4 million. The amended agreement consists of a $500 million revolving credit facility (the “$500 Million RCF ”) that matures on January 31, 2030. That maturity date is subject to acceleration upon the occurrence of certain events (as”

International Seaways, Inc. amended $500 Million RCF with Nordea Bank Abp, New York Branch valued at $500 million revolving credit facility, maturing January 31, 2030 (effective 2024-04-26).

“On April 26, 2024, International Seaways, Inc. (the “ Company ”), International Seaways Operating Corporation (the “ Borrower ”) and certain of their subsidiaries entered into a second amendment that amended and extended that certain credit agreement dated as of May 22, 2022, as amended from time to time (the “ $750 Million Credit Facility ”) with Nordea Bank Abp, New York Branch (“ Nordea ”), BNP Paribas, Crédit Agricole Corporate & Investment Bank (“ CA-CIB ”), DNB Markets Inc., and Skandinaviska Enskilda Banken AB (PUBL) (or their respective affiliates), as mandated lead arrangers and bookrunners; and ING Bank N.V., London Branch and Danish Ship Finance A/S and (or their respective affiliates), as lead arrangers and National Australia Bank Limited as co-arranger.”

Joseph I. Kronsberg departed as Director at International Seaways, Inc..

“the Company was notified that, when his current term expires at the Annual Meeting, Mr. Joseph I. Kronsberg will retire from the Board and not stand for re-election as a director”

Darron M. Anderson was appointed as Director at International Seaways, Inc..

“announced that it will nominate Kristian K. Johansen and Darron M. Anderson for election as independent directors to the Company’s Board of Directors”

Kristian K. Johansen was appointed as Director at International Seaways, Inc..

“announced that it will nominate Kristian K. Johansen and Darron M. Anderson for election as independent directors to the Company’s Board of Directors”

International Seaways, Inc. reported the fourth quarter and full year of 2023 results: net income Net income for the full year of 2023 was $556.4 million, or $11.25 per diluted share.

“Net income for the full year of 2023 was $556.4 million, or $11.25 per diluted share”

Nadim Qureshi resigned as Director at International Seaways, Inc..

“On February 19, 2024, Mr. Nadim Qureshi resigned from the Board of Directors (the “ Board ”) of International Seaways, Inc. (the “ Company ”) with immediate effect.”

International Seaways, Inc. entered into Equity Distribution Agreement with Evercore Group L.L.C. and Jefferies LLC valued at up to $100,000,000 (effective 2023-12-20).

“On December 20, 2023, International Seaways, Inc. (the “ Company ”) updated and renewed its “at the market” offering program in connection with general corporate housekeeping and entered into an Equity Distribution Agreement (the “ Distribution Agreement ”) with Evercore Group L.L.C. and Jefferies LLC, as sales agents (the “ Sales Agents ”), to issue and sell through or to the Sales Agents, from time to time, shares of its Common Stock, no par value (the “ Common Stock ”), in “at the market” offerings having an aggregate gross sales price of up to $100,000,000.”

International Seaways, Inc. reported the third quarter 2023 results: revenue $241.7 million, net income $97.9 million, or $1.99 per diluted share.

“in depreciation and amortization due to the impact of VLCC newbuilding deliveries as well as increased drydockings and amortization. Shipping revenues for the third quarter were $241.7 million, compared to $236.8 million for the third quarter of 2022. Consolidated TCE revenues for the third quarter were $236.0 million, compared to $234.5 million for the third quarter”

International Seaways, Inc. incurred revolving credit of $160 million with Nordea Bank Abp, New York Branch at Term SOFR plus 1.90% maturing March 27, 2029.

“ith Nordea Bank Abp, New York Branch (“ Nordea ”), ING Bank N.V., London Branch (“ ING ”),”

International Seaways, Inc. entered into Revolving Credit Agreement with Nordea Bank Abp, New York Branch, ING Bank N.V., London Branch, Crédit Agricole Corporate & Investment Bank, DNB Markets Inc., Danish Ship Finance A/S, Skandinaviska Enskilda Banken AB (PUBL) valued at $160 million (effective 2023-09-27).

“On September 27, 2023, International Seaways, Inc. (the “ Company ”), International Seaways Operating Corporation (the “ Borrower ”) and certain of their subsidiaries entered into a $160 million revolving credit agreement (the “ Revolving Credit Agreement ”) with Nordea Bank Abp, New York Branch (“ Nordea ”), ING Bank N.V., London Branch (“ ING ”), Crédit Agricole Corporate & Investment Bank, and DNB Markets Inc. (or their respective affiliates), as mandated lead arrangers and bookrunners; and Danish Ship Finance A/S and Skandinaviska Enskilda Banken AB (PUBL) (or their respective affiliates), as lead arrangers.”

International Seaways, Inc. reported first quarter 2023 results: revenue $287.1 million, net income $172.6 million, or $3.47 per diluted share, EPS $3.47 per diluted share.

“and the effects of sanctions on Russian oil that disrupted trading patterns leading to longer voyages and higher tanker utilization. Shipping revenues for the first quarter were $287.1 million, compared to $101.5 million for the first quarter of 2022. Consolidated TCE revenues for the first quarter were $283.3 million, compared to $98.0 million for the first quarter of”

International Seaways, Inc. amended Amendment to Credit Agreement dated May 20, 2022 with Nordea Bank Abp, New York Branch valued at aggregate outstanding term loans $366.3 million; revolving commitments $257.4 million; additional co (effective 2023-03-10).

“On March 10, 2023, International Seaways, Inc. (the “ Company ”) and certain of its subsidiaries, including International Seaways Operating Corporation (the “ Borrower ”), entered into an amendment (the “ Amendment ”) to that certain credit agreement dated as of May 20, 2022, as amended from time to time, initially comprising $750 million of secured term and revolving debt facilities among the Company, the Borrower, the subsidiary guarantors, Nordea Bank Abp, New York Branch (as administrative agent, collateral agent, security trustee and a lender) and the other lenders thereunder (such agreement, the “ Credit Agreement ”).”

William Nugent changed role as Senior Vice President and Chief Technical and Sustainability Officer at International Seaways, Inc..

“The Committee also approved changes in the title of Mr. Nugent from “Senior Vice President and Head of Vessel Operations” to “ Senior Vice President and Chief Technical and Sustainability Officer ”.”

International Seaways, Inc. reported fourth quarter and full year of 2022 results: revenue $338.2 million, net income $218.4 million, EPS $4.40 per diluted share.

“Consolidated TCE revenues for the fourth quarter were $335.7 million, compared to $93.0 million for the fourth quarter of 2021. Shipping revenues for the fourth quarter were $338.2 million, compared to $94.7 million for the fourth quarter of 2021. Adjusted EBITDA for the fourth quarter was $254.3 million, compared to $11.9 million for the fourth quarter of 2021.”

International Seaways, Inc. terminated Term Loan Facility with Macquarie Bank Limited, London Branch valued at $20 million (effective 2022-11-17).

“On November 17, 2022, the previously disclosed secured Term Loan Facility dated September 30, 2021 by and among International Seaways, Inc. (as parent guarantor), Seaways Shipping II Corporation, a wholly-owned subsidiary of INSW (as guarantor), and three subsidiaries of Seaways Shipping II Corporation (as joint and several borrowers), for a $20 million term loan facility with Macquarie Bank Limited, London Branch, as lender, arranger, facility agent and security agent , which had an outstanding balance of $17.75 million, was repaid in full and terminated in accordance with its terms.”

International Seaways, Inc. reported third quarter of 2022 results: revenue $236.8 million, net income $113.4 million, or $2.28 per diluted share, EPS $2.28 per diluted share.

“Consolidated TCE revenues (C) for the third quarter were $234.5 million, compared to $73.0 million for the third quarter of 2021. Shipping revenues for the third quarter were $236.8 million, compared to $84.8 million for the third quarter of 2021. Adjusted EBITDA (A) for the third quarter was $157.1 million, compared to $8.0 million for the third quarter of 2021.”

Nadim Qureshi was appointed as Director at International Seaways, Inc..

“The three vacancies created by the resignation of Mr. Wallach and the expansion of the Board were filled by the Board with Mr. Stevenson, Alexandra K. Blankenship and Nadim Qureshi, the three directors designated by Diamond S in accordance with the Merger Agreement.”

Alexandra K. Blankenship was appointed as Director at International Seaways, Inc..

“The three vacancies created by the resignation of Mr. Wallach and the expansion of the Board were filled by the Board with Mr. Stevenson, Alexandra K. Blankenship and Nadim Qureshi, the three directors designated by Diamond S in accordance with the Merger Agreement.”

Craig Stevenson was appointed as Director at International Seaways, Inc..

“The three vacancies created by the resignation of Mr. Wallach and the expansion of the Board were filled by the Board with Mr. Stevenson, Alexandra K. Blankenship and Nadim Qureshi, the three directors designated by Diamond S in accordance with the Merger Agreement.”

Ty E. Wallach resigned as Director at International Seaways, Inc..

“Resignation of Director Effective as of the Effective Time, as contemplated by the Merger Agreement to permit three directors designated by Diamond S to serve on the Board, Mr. Ty E. Wallach resigned as a member of the Board.”

Nadim Qureshi was appointed as Director at International Seaways, Inc..

“Diamond has advised that Craig H. Stevenson, Jr., Alexandra K. Blankenship and Nadim Qureshi have been selected by Diamond as Diamond’s designees to the INSW Board with effect upon the Effective Time.”

Alexandra K. Blankenship was appointed as Director at International Seaways, Inc..

“Diamond has advised that Craig H. Stevenson, Jr., Alexandra K. Blankenship and Nadim Qureshi have been selected by Diamond as Diamond’s designees to the INSW Board with effect upon the Effective Time.”

Craig H. Stevenson, Jr. was appointed as Director at International Seaways, Inc..

“Diamond has advised that Craig H. Stevenson, Jr., Alexandra K. Blankenship and Nadim Qureshi have been selected by Diamond as Diamond’s designees to the INSW Board with effect upon the Effective Time.”

Ty E. Wallach resigned as Director at International Seaways, Inc..

“(at which time Mr. Ty E. Wallach will resign from the INSW Board)”