Okeanis Eco Tankers (OET) Pareto Securities' 33rd Annual Energy Conference presentation summary

Supportive crude tanker fundamentals

• Geopolitical disruptions and sanctions have led to less efficient trade routes, increasing tonne-mile demand and tightening effective vessel supply.

• Recovering Chinese crude imports and expected global inventory restocking are set to drive the next leg of tanker demand.

• Over 20% of global crude tanker capacity is sanctioned, reducing competition for compliant cargoes and supporting high utilization.

• Elevated orderbook impact is back-end weighted, with manageable near-term deliveries and an aging fleet profile.

• Tight utilization has created significant upside in freight rates, with small changes in vessel availability driving large rate movements.

Fully delivered, spot-exposed fleet

• Operates 18 eco-design, scrubber-fitted vessels with an average age of 5.6 years and 94% spot market exposure.

• Recent fleet expansion completed with the delivery of four new Suezmax vessels in 2026.

• Total fleet capacity stands at 4.1 million DWT, providing scale and operational flexibility.

Leading commercial platform, consistent outperformance

• Achieved spot market TCE outperformance of 24% for VLCCs and 33% for Suezmaxes versus listed peers since Q4 2019.

• Generated approximately $400 million in incremental TCE revenue over peers since 2019.

• Maintains premium P/NAV, lowest 2026E P/E, and highest expected dividend yield among crude tanker peers.