International Seaways, Inc.

In addition to the other information set forth below in this Quarterly Report, you should carefully consider the factors discussed in Part I, Item 1A. “Risk Factors” in our 2024 Form 10-K. The risks described in that document are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results. The risk factor set forth below updates, and should be read together with the risk factors in our 2024 Form 10-K:

Risks Related to Legal and Regulatory Matters

An increase in trade protectionism and a proposal by the United States to impose significant fees on vessels entering a U.S. port where that vessel was constructed in China or is owned or operated by a Chinese entity could adversely impact our results of operation, financial condition and cash flows.

Protectionist trade developments, such as increased tariffs on imports, or the perception that they may occur, may have an adverse effect on global economic conditions, and may significantly affect and/or reduce global trade. Governments may increasingly turn to trade barriers to protect their domestic industries against foreign imports or to retaliate against other governments imposing tariffs, potentially depressing shipping demand. The United States government has made statements and taken actions that impact U.S. international trade policies, including imposing new tariffs on imports from Canada, Mexico and China, and those and other countries have imposed, or threatened to impose, retaliatory tariffs on imports from the United States. In addition, the U.S. trade representative in April 2025 adopted a proposal under which, beginning in October 2025 certain vessels that were constructed in China or are owned or operated by a Chinese entity would be charged a fee based on their net tonnage upon entering a U.S. port, which fee would increase over time. The Company owns 14 vessels that were constructed in China (four of which fall below the 55,000 dwt scope of the proposal), time charters-in two vessels that were constructed in China and bareboat charters in three non-Chinese built vessels from a Chinese financial institution in a finance leasing arrangement, which is accounted for as a loan. The proposal lacks clarity in its

application to certain scenarios that may apply to us and it is expected that further guidance on the proposal will be provided before the fees are imposed. We are currently evaluating the effect that the proposal would have on us, including our results of operation and cash flows, and on our industry generally.

No stock repurchases were made during the three months ended March 31, 2025 other than shares withheld to cover tax withholding liabilities relating to the vesting of outstanding restricted stock units held by certain members of management.

See Note 10, “Capital Stock and Stock Compensation,” to the accompanying condensed consolidated financial statements for additional information about the stock repurchase plan and a description of shares withheld to cover the cost of stock options exercised by certain members of management and tax withholding liabilities relating to the vesting of previously-granted equity awards to certain members of management, which is incorporated by reference in this Part II, Item 2.

Not applicable.