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

Greece - November 10, 2022

Okeanis Eco Tankers Corp. ("OET" or the "Company" or "Group") today reported unaudited interim condensed results for the third quarter and nine month period ended September 30, 2022.

Q3 2022 Highlights:

• Time charter equivalent ("TCE", a non-IFRS measure) revenue and Adjusted EBITDA (a non-IFRS measure) of $48.9 million and $37.4 million, respectively. Adjusted profit and Adjusted earnings per share (non-IFRS measures) for the period of $18.9 million or $0.59 per basic & diluted share.

• Fleetwide daily TCE rate of $38,400 per operating day; VLCC and Suezmax TCE rates of $28,900 and $51,200 per operating day, respectively.

• Daily vessel operating expenses ("opex", a non-IFRS measure) of $7,941 per calendar day, including management fees.

• In Q4 2022 to date, 85% of the available VLCC spot days have been booked at an average TCE rate of $75,600 per day and 43% of the available Suezmax spot days have been booked at an average TCE rate of $74,100 per day.

• The Company paid an amount of $10.0 million or $0.30 per share in September 2022 as a return of paid-in capital.

The Board of Directors declared a return of capital of $10.0 million or $0.30 per share to shareholders. The cash payment will be recorded as a return of paid-in-capital and will be paid on Friday December 9, 2022 to shareholders of record as of Thursday December 8, 2022. The shares will be traded ex-capital distribution as from and including Wednesday December 7, 2022.

Full report

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 BÝrs under the symbol OET. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers.

Okeanis Eco Tankers Corp. press release