ATHENS, GREECE, May 8, 2025 - Okeanis Eco Tankers Corp. (the "Company" or "OET")
(NYSE:ECO / OSE:OET), announced today that it has declared its options to
purchase back each of the VLCC vessels Nissos Kea, Nissos Nikouria, and Nissos
Anafi, from its current sale and leaseback financier. 

In addition, on May 8, 2025, we entered into a new $130.0 million senior secured
credit facility with a prominent Greek bank to finance the options to purchase
back the Nissos Nikouria and Nissos Anafi. The credit facility is expected to
close in June 2025 for the Nissos Nikouria and August 2025 for the Nissos Anafi.
The new credit facility contains an interest rate of Term SOFR plus 140 basis
points, matures in seven years, and will be repaid in quarterly installments of
$1.9 million for both vessels, together with balloon installments of $76.8
million for both vessels. It will be secured by, among other things, a mortgage
over the Nissos Nikouria and the Nissos Anafi, and will be guaranteed by the
Company.  The credit facility includes standard covenants, including for minimum
liquidity and security cover ratio.

The Company is also working on sourcing debt financing to fund the option to
purchase back the Nissos Kea. We currently expect to announce the details of
such financing within the second quarter of 2025, with the closing anticipated
in June 2025. We believe that the basic financial terms for financing the Nissos
Kea will be substantially similar to those obtained for the two other vessels
described above. Any such financing, however, is not guaranteed at this stage
and is subject to entry into definitive documentation.

Iraklis Sbarounis, CFO of the Company, commented:
"We are pleased to announce that we have declared the purchase options for our
three youngest VLCC vessels from their sale and leasebacks. By capitalizing on
the current favorable financing environment, we are improving our capital
structure, while enhancing the Company's resilience against geopolitical and
other risks and costs that our industry may be facing. 
The longstanding relationships built by the Alafouzos family within the Greek
banking market acted as a catalyst in allowing us to swiftly source and execute
the financing for the Nissos Nikouria and Nissos Anafi. We are confident that we
can finance the Nissos Kea in due course, anticipating that such financing will
be on similar financial terms. 
The vessels under this new financing will benefit from some of the most
competitive financing terms within our fleet, with debt maturing in 2032, as we
consistently look to further improve our future daily debt service breakeven
costs. 
We are confident that our modern fleet, comprised of vessels built at quality
shipyards in South Korea and Japan, strategically positions us in line with our
vision to be the platform of choice within the crude tankers market for
investors and all stakeholders."

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 six modern scrubber-fitted Suezmax
tankers and eight modern scrubber-fitted VLCC tankers.
 
Forward-Looking Statements
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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 (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