Okeanis Eco Tankers Corp. - Changes to Management Team

29 Nov 2022 17:44 CET

ATHENS, GREECE, November 29, 2022 – Okeanis Eco Tankers Corp. (the “Company” or
“OET”) is pleased to announce the following changes to its management team:

1: Aristidis Alafouzos, currently the Chief Operating Officer (COO), will
replace Ioannis Alafouzos as Chief Executive Officer (CEO) of OET, who will
remain as Chairman of the Company. Aristidis Alafouzos will assume the role of
CEO from December 1, 2022

2: Iraklis Sbarounis will join the Company as Chief Financial Officer (CFO),
serving alongside Konstantinos Oikonomopoulos, who will take over the role of
Chief Development Officer. Mr. Sbarounis will assume the role of CFO from
January 9, 2023.

Ioannis Alafouzos commented: “We are pleased to announce the strengthening of
our management team. After over four years since the first major step of our
journey, our IPO in Oslo, leveraging on our industry-leading fleet and
performance, we are excited to enter our next chapter. The management team share
the values that have shaped OET, and their insights and experience will serve as
the basis to lead and develop the Company going forward. I look forward to
continuing working with the rest of our board of directors and ensure the
long-term vision of OET is successfully implemented.”

Aristidis Alafouzos commented: “Together with the rest of the OET team, we have
been building a high-performance tanker company through a period of high
volatility, and at times strongly adverse market conditions. I am extremely
proud of what we have achieved and am greatly humbled by the confidence placed
in me by the board of directors. I am confident that my years as COO have taught
me invaluable lessons which I shall put to use in service to the Company and our
shareholders. This is an incredibly exciting time for OET and I look forward to
help steer our Company on its onward journey.”

Iraklis Sbarounis has a wealth of experience within most facets of finance in
the maritime sector, ranging from capital markets to bank debt and alternative
funding structures. Prior to joining OET, he was Group CFO at TMS Shipping
Group. Mr Sbarounis commented: “I am delighted and excited to join the OET team.
With its young fleet, solid commercial track-record, and attractive operational
and financial leverage, the Company is uniquely positioned to deliver strong
results, going into a very promising market. I look forward to working with
Aristidis, Konstantinos, and the rest of the OET team, and contributing to the
Company’s strategy and value creation for our shareholders."

Mr. Sbarounis was previously with the TMS Shipping Group for 14 years, most
recently having served as its Group CFO. He also served as Ocean Rig UDW’s
(formerly a public company listed on NASDAQ) CFO, Corporate Secretary and
Director, until its merger with Transocean in 2018, and prior to that as its VP
Business Development. He started his career in investment banking with BNP
Paribas. Iraklis has extensive experience in dealing with corporate finance,
commercial and investment matters as an executive in the shipping industry, as
well as the capital markets. He holds a B.S. degree in Management Science from
the Massachusetts Institute of Technology (MIT) and a M.Sc. degree in Finance
and Economics from the London School of Economics and Political Science (LSE).

For further information, please contact:
info@okeanisecotankers.com

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.

About OET
OET is an international tanker company providing seaborne transportation of
crude oil. The Company was incorporated on April 30, 2018 under the laws of the
Republic of the Marshall Islands and is listed on Oslo Børs under the symbol
OET. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers
and eight modern scrubber-fitted VLCC tankers.

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