ATHENS, GREECE, June 20, 2024: Okeanis Eco Tankers Corp. ("we", the "Company",
"OET" or "Okeanis") (NYSE:ECO / OSE:OET) is pleased to announce the following
financing update relating to its fleet. 

On June 20, 2024, we entered into a new $31.11 million senior secured credit
facility to finance the option to purchase back the Suezmax vessel Poliegos from
its current sale and leaseback financier (the "Poliegos New Facility"). The
Poliegos New Facility is provided by Bank SinoPac Co., Ltd, and the transaction
is expected to close in July 2024. The Poliegos New Facility contains an
interest rate of Term SOFR plus 160 basis points, matures in six years, and will
be repaid in quarterly instalments of approximately $0.78 million each, together
with a balloon instalment of approximately $12.44 million payable at maturity.
The Poliegos New Facility is secured by, among other things, security over the
Poliegos, and is guaranteed by the Company. 

Iraklis Sbarounis, CFO of the Company, commented:
"We are very pleased to announce this transaction that marks an important
milestone in our continuous efforts to improve our capital structure, with a
significant reduction in pricing compared to the vessel's previous sale and
leaseback financing.
We have strategically targeted setting foot in this new financing market and are
satisfied to enter into our first transaction. We believe it may open new
opportunities for us in the future, and adds diversity and flexibility to our
debt financing options, especially considering the challenges that may start
affecting part of the more traditional ship financing markets due to the
implementation of the Basel IV banking reforms. We have strong relationships
with and access to multiple Asian financing markets that we believe tactically
and effectively complement our mix of financiers. 
Since June 2023, we have refinanced our entire fleet, except for our two VLCC
vessels that are financed through sale and leaseback facilities and whose
purchase options are not initially exercisable by us until the first half of
2026. With respect to the remaining twelve vessels that have been refinanced, we
have significantly improved pricing, extended maturities, added flexibility, and
accessed new financing markets. Indicatively (and also taking into account the
transition of the benchmark interest rate from LIBOR to SOFR in 2023), we have
reduced the applicable pricing on our banking debt on these vessels (the
principal of which is more than $550 million), on a weighted basis, by
approximately 125 basis points. Furthermore, we have extended maturities
staggered between 2028 and 2031. 
We look forward to continuing working with our financiers to source the best
refinancing options for the Nissos Rhenia and the Nissos Despotiko in 2026, or
if the opportunity arises for other accretive deals."

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

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

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 Børs under the symbol OET and the New York Stock Exchange under the symbol
ECO. The sailing fleet consists of six 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 U.S. federal securities laws. 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 U.S. Securities and Exchange
Commission. 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