ATHENS, GREECE, May 21, 2024: Okeanis Eco Tankers Corp. ("we", the "Company",
"OET" or "Okeanis") (NYSE:ECO / OSE:OET) is pleased to announce the following
financings update relating to its fleet. 

On May 20, 2024, we entered into a new $60.0 million senior secured credit
facility to refinance the Company's existing facility secured over the VLCC
vessel Nissos Kythnos and for general corporate purposes (the "Nissos Kythnos
New Facility"). The Nissos Kythnos New Facility is provided by Danish Ship
Finance A/S and the transaction is expected to close in May 2024. It is priced
at 140 basis points over the applicable Term SOFR, until December 2026.
Thereafter, a new applicable margin will be mutually agreed between the parties,
for the remaining duration of the facility, which matures in six years. If the
parties do not agree to a new applicable margin, the Company will have the
ability to prepay the facility at no additional cost. The facility will be
repaid in quarterly instalments of approximately $1.041 million each, together
with a balloon installment of approximately $35.024 million payable at maturity,
is secured by, among other things, security over the Nissos Kythnos, and is
guaranteed by the Company. The facility also includes a sustainability linked
margin adjustment provision, starting in 2025, whereby the applicable margin may
decrease or increase by 5 basis points per year, subject to the Company meeting
certain sustainability linked targets.  

On May 21, 2024, we entered into a supplemental agreement to our senior secured
credit facility currently financing the VLCC vessel Nissos Donoussa (the "Nissos
Donoussa Supplemental Agreement"). The Nissos Donoussa Supplemental Agreement,
which is expected to become effective in May 2024, provides for a reduction of
the margin to 165 basis points over the applicable Term SOFR, through the
duration of the facility. No other material terms of the facility have been
supplemented or amended.
 
Iraklis Sbarounis, CFO of the Company, commented:
"We continue our focus in improving our capital structure and are very pleased
to announce these two transactions, which reduce further our cost of debt. We
are currently observing a very competitive financing market landscape for us, a
testament to the positioning of the Company and our strong relationships with
our financiers. We are delighted to commence partnerships with new ones and at
the same time are proud and thankful to be able to benefit from ones we and our
major shareholder have established and cultivated for many years. These
transactions reduce our applicable pricing by approximately 100 basis points on
our two VLCC vessels, and continue the momentum from our series of accretive
refinancings and financing amendments over the last 10 months. We actively
continue working on sourcing debt capital at favorable and value-creating terms
to finance the purchase option of our Suezmax Poliegos under its current finance
lease this summer, and target to provide further updates in due course."

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