Okeanis Eco Tankers Corp. - Unaudited Interim Condensed Results for the Fourth Quarter and Twelve Month Period of 2022

24 Feb 2023 06:30 CET

GREECE, February 24, 2023 – Okeanis Eco Tankers Corp. (“OET” or the “Company” or
“Group”) today reported unaudited interim condensed results for the fourth
quarter and twelve month period ended December 31, 2022.

Q4 2022 Highlights:

• Time charter equivalent (“TCE”, a non-IFRS measure) revenue and Adjusted
EBITDA (a non-IFRS measure) of $82.2 million and $69.8 million, respectively.
Adjusted profit and Adjusted earnings per share (non-IFRS measures) for the
period of $48.6 million or $1.51 per basic & diluted share.
• Fleetwide daily TCE rate of $63,800 per operating day; VLCC and Suezmax TCE
rates of $65,400 and $61,600 per operating day, respectively.
• Daily vessel operating expenses (“opex”, a non-IFRS measure) of $8,369 per
calendar day, including management fees.
• In Q1 2023 to date, 78% of the available VLCC spot days have been booked at an
average TCE rate of $91,700 per day and 84% of the available Suezmax spot days
have been booked at an average TCE rate of $118,600 per day.
• The Company paid an amount of approximately $10.0 million or $0.30 per share
in December 2022 as a return of paid-in capital.

The Board of Directors declared a return of capital of $1.25 per share to
shareholders. The cash payment will be recorded as a return of paid-in-capital
and will be paid on Friday March 17, 2023 to shareholders of record as of Friday
March 10, 2023. The shares will be traded ex-capital distribution as from and
including Thursday March 9, 2023.

The unaudited interim results and presentation are attached to this press
release.

OET will be hosting a conference call and webcast at 13:30 CET on Friday
February 24, 2023 to discuss Q4 2022 results. Participants may access the
conference call using the below dial-in details:

• Norway: +47 2 156 3318
• USA: +1 212 999 6659
• Standard International Access: +44 (0) 33 0551 0200
• Password: Okeanis

The webcast will include a slide presentation and will be available on the
following link:
https://channel.royalcast.com/landingpage/okeanis/20230224_1/
An audio replay of the conference call will be available on our website:
http://www.okeanisecotankers.com/reports/

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.

Forward-Looking Statements
Matters discussed in this release may contain certain forward-looking statements
relating to the business, financial performance and results of the Company
and/or the industry in which it operates, sometimes identified by the words
“believes”, “expects”, “intends”, “anticipates”, “forecast” and similar
expressions. The forward-looking statements contained in this release, including
assumptions, opinions and views of the Company or cited from third-party
sources, are solely opinions and forecasts that are subject to risks,
uncertainties and other factors that may cause actual events to differ
materially from any anticipated development. The Company does not provide any
assurance that the assumptions underlying such forward-looking statements are
free from errors, nor does the Company accept any responsibility for the future
accuracy of the opinions expressed in the presentation or the actual occurrence
of the forecast developments. No obligations are assumed to update any
forward-looking statements or to conform to these forward-looking statements to
actual results.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.


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

Contact:
Iraklis Sbarounis, CFO
Tel: +30 210 480 4200
ir@okeanisecotankers.com

More information:
Access the news on Oslo Bors NewsWeb site

583454_OET Presentation 4Q22.pdf
583454_OET Report 4Q22.pdf