Okeanis Eco Tankers Corp. – New Financings Update

04 May 2026 06:00 CEST

ATHENS, GREECE, May 4, 2026 – Okeanis Eco Tankers Corp. (the “Company” or “OET”)
(NYSE:ECO / OSE:OET), announced today that it has entered into three new loan
facility agreements.

We entered into a $90.0 million facility agreement to finance a portion of the
acquisition price of our two recently acquired newbuilding contracts relating to
two new Suezmax vessels, each under construction at Daehan Shipbuilding Co.,
Ltd., to be named Nissos Tigani and Nissos Vous, with expected deliveries from
the shipyard in May 2026 and July 2026, respectively (the “Nissos Tigani and
Nissos Vous Facility”). The Nissos Tigani and Nissos Vous Facility is provided
by a syndicate of banks, led and arranged by E.SUN Commercial Bank, Ltd. It
contains an interest rate of Term SOFR plus 120 basis points, matures in eight
years, and will be repaid in quarterly installments of $1.07 million, together
with aggregate balloon installments of $55.76 million at maturity, related to
both vessels. It will be secured by, among other things, mortgages over the
Nissos Tigani and the Nissos Vous, and it will be guaranteed by the Company. The
transaction is expected to close in May 2026 and July 2026, respectively, for
each of the two vessels.

We entered into a $50.0 million facility agreement to finance the previously
announced declaration of our option to purchase back the Nissos Rhenia from its
current sale and leaseback financier (the “Nissos Rhenia Facility”). The Nissos
Rhenia Facility is provided by a prominent Greek bank. It contains an interest
rate of Term SOFR plus 125 basis points, matures in seven years, and will be
repaid in quarterly installments of $0.825 million, together with a balloon
installment of $26.9 million at maturity. It will be secured by, among other
things, a mortgage over the Nissos Rhenia, and it will be guaranteed by the
Company. The transaction is expected to close in May 2026.

We entered into a $50.0 million facility agreement to finance the previously
announced declaration of our option to purchase back the Nissos Despotiko from
its current sale and leaseback financier (the “Nissos Despotiko Facility”). The
Nissos Despotiko Facility is provided by another prominent Greek bank. It
contains an interest rate of Term SOFR plus 130 basis points, matures in nine
years, and will be repaid in quarterly installments of $0.825 million, together
with a balloon installment of $20.3 million at maturity. It will be secured by,
among other things, a mortgage over the Nissos Despotiko, and it will be
guaranteed by the Company. The transaction is expected to close in June 2026.

All facility agreements contain standard representations, warranties and
covenants, including financial covenants, and are subject to standard conditions
precedent, such as the delivery of the relevant vessel.

Iraklis Sbarounis, CFO of the Company, commented:

“We are pleased to announce our most recent bank financing transactions.

First, these transactions complete the funding of the acquisition of our two
resale newbuilding Suezmaxes, following our successful equity raise in January.
Similar to the structure we executed for the Nissos Piperi and Nissos
Serifopoula, we structured the acquisitions of the Nissos Tigani and Nissos Vous
in a way that we believe preserves our dividend capacity, funded by fresh
accretive equity capital and competitive bank debt. This transaction has been
our third with Taiwanese banks in the last two years. We are pleased with the
progress and relationships we are developing in that market, and look forward to
working with current and new partners in the future.

Second, these transactions also complete our transition away from all our legacy
sale and leaseback transactions. The sale and leaseback transactions served
their purpose well in supporting the start of our journey as a public entity; we
are now very pleased to replace them with competitive bank debt, which we
believe to be a reflection of how Okeanis as a platform has matured through the
years, how the market views our performance and capital structure, and the
confidence we enjoy by our financiers. The two vessels are each financed by
separate Greek banks. We continue fostering the relationships established by the
Alafouzos family in the Greek banking market, a market that we expect may always
play a significant role in our capital structure, which knows the shipping
market, and is built with long-term trust in mind.

Over the last few years we have refinanced and improved our debt structure.
Since the pre LIBOR to SOFR transition era in early 2023, and once these new
transactions close, we estimate that our debt margin pricing will have improved
by over 200 basis points on average across our fleet, resulting in significant
interest expense savings. We have extended loan maturities, such that some loans
run until 2035, and we have improved our daily debt service breakeven costs. We
are confident that we are well positioned to continue capitalizing on the
market, having set up our platform with a competitive capital structure and with
a focus on shareholder returns.”

Contacts

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

Investor Relations / Media Contact:
Nicolas Bornozis, President
Capital Link, Inc.
230 Park Avenue, Suite 1540, New York, N.Y. 10169
Tel: +1 (212) 661-7566
okeanisecotankers@capitallink.com

About OET
OET is a leading international tanker company providing seaborne transportation
of crude oil and refined products. The Company was incorporated on April 30,
2018 under the laws of the Republic of the Marshall Islands and is listed on
Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under
the symbol ECO. The sailing fleet consists of eight modern scrubber-fitted
Suezmax tankers and eight modern scrubber-fitted VLCC tankers.

Forward-Looking Statements
This communication contains “forward-looking statements”, including as defined
under applicable laws, such as the US Private Securities Litigation Reform Act
of 1995. Forward-looking statements provide the Company’s current expectations
or forecasts of future events. Forward-looking statements include statements
about the Company’s expectations, beliefs, plans, objectives, intentions,
assumptions and other statements that are not historical facts or that are not
present facts or conditions. Words or phrases such as “anticipate,” “believe,”
“continue,” “estimate,” “expect,” “hope,” “intend,” “may,” “ongoing,” “plan,”
“potential,” “predict,” “project,” “should,” “will” or similar words or phrases,
or the negatives of those words or phrases, may identify forward-looking
statements, but the absence of these words does not necessarily mean that a
statement is not forward-looking. Forward-looking statements are subject to
known and unknown risks and uncertainties and are based on potentially
inaccurate assumptions that could cause actual results to differ materially from
those expected or implied by the forward-looking statements. The Company’s
actual results could differ materially from those anticipated in forward-looking
statements for many reasons, including as described in the Company’s filings
with the SEC. Accordingly, you should not unduly rely on these forward-looking
statements, which speak only as of the date of this communication. Factors that
could cause actual results to differ materially include, but are not limited to,
the Company’s operating or financial results; the Company’s liquidity, including
its ability to service its indebtedness; competitive factors in the market in
which the Company operates; shipping industry trends, including charter rates,
vessel values and factors affecting vessel supply and demand; future, pending or
recent acquisitions and dispositions, business strategy, areas of possible
expansion or contraction, and expected capital spending or operating expenses;
risks associated with operations; broader market impacts arising from war (or
threatened war) or international hostilities; risks associated with pandemics,
including effects on demand for oil and other products transported by tankers
and the transportation thereof; and other factors listed from time to time in
the Company’s filings with the SEC. Except to the extent required by law, the
Company expressly disclaims any obligations or undertaking to release publicly
any updates or revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with respect thereto or any
change in events, conditions, or circumstances on which any statement is based.
You should, however, review the factors and risks the Company describes in the
reports it files and furnishes from time to time with the SEC, which can be
obtained free of charge on the SEC’s website at www.sec.gov.

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

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